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VOL. 124 | NO. 17 | Tuesday, January 27, 2009

Report: County Clerk CAO, Three Others Took Gifts And Tips

The chief administrative officer of the Shelby County Clerk’s office was taking gift cards and gift certificates from local auto dealers to help them with car titles and other auto paperwork, according to a report from the Shelby County Attorney’s office.

Wilson Appointed General Sessions Criminal Court Judge

Attorney Lee Wilson is the new judge of Division 10 General Sessions Criminal Court.

Re/Max Offices to Close by Sunday

The realty offices of Re/Max on the River and Re/Max at Mallard Creek will close Sunday, further proof that the slumping real estate market continues to claim casualties.

New Developer Awaits TVA Approval for Pickwick Project

Mississippi’s Tishomingo County Development Foundation has selected a new developer to take over a Pickwick Lake marina project that that has been mired in environmental problems, a federal lawsuit and defaulted lease payments.

Southaven’s Towne Center Facing Tough Times

Bad things come in threes, as the old saying goes, and that principle could easily apply to the 520,000-square-foot Southaven Towne Center, where the economic downturn has taken its toll on a trio of high-profile stores.

Local Weather
Currently
Memphis, TN
45.0°F
Fair
Wind: North at 10.4 mph
Humidity: 56%

EVENTS

Project Management Success, a one-day seminar, will be offered today from 8:30 a.m. to 5 p.m. at the Hampton Inn, 2935 Germantown Road. Greg Noonan and Teresa Wright will provide local bank managers with tools and concepts to help them in preparing and managing projects for success. Cost is $595 per person. A 10 percent discount applies for multiple attendees. To register, call 877-616-4385 or visit www.gregnoonanconsulting.com/seminar.htm.

more events »

Cohen Keeps Eye On Stimulus Money

The $825 billion Obama administration economic stimulus bill begins its journey through Congress this week and U.S. Rep. Steve Cohen, D-Memphis, estimates $167 million could be earmarked for projects in Shelby County over the next two years just through the public education allocations in the draft.

Banks Dodge About Where TARP Money’s Gone

Banks across the U.S. released fourth-quarter numbers last week, and for many of them the earnings announcement was an opportunity to tout new loans they’ve put on the books in the wake of accepting millions of dollars in federal capital.

Court Rules for Worker Over Retaliation

WASHINGTON (AP) – The U.S. Supreme Court ruled unanimously Monday that workers who cooperate with internal investigations of retaliation by their employers are sheltered by federal laws prohibiting job discrimination.

December Existing Home Sales Up 6.5 Percent

WASHINGTON (AP) – A real estate group says sales of existing homes rose 6.5 percent from November to December, closing out the worst year for the U.S. real estate market in more than a decade.

Loan Filed for Phase Two Of Centennial Gardens Apartments

7751 Centennial Drive, Memphis, TN 38125, Loan Amount: $11.5 Million -
Lightman Centennial Gardens Co., a division of Michael Lightman Realty Co., on Jan. 15 closed an $11.5 million construction loan with SunTrust Bank for the second phase of the Centennial Gardens apartment complex in Southeast Memphis. The property is west of Hacks Cross Road and south of Winchester Road.

Congress Takes Up Economic Plans, Treasury Nominee

WASHINGTON (AP) - Congress is set to tackle the economy this week by considering President Barack Obama's choice to head the Treasury Department and by acting on legislation to spur economic growth.

GM to Lay Off 2,000 Workers, Cut Production

DETROIT (AP) - General Motors Corp. said Monday it will cut 2,000 jobs at plants in Michigan and Ohio, and it will halt production for several weeks at nine U.S. plants over the next six months due to slow sales.

Pfizer to Buy Wyeth for $68B; Cut 8,000 Jobs

TRENTON, N.J. (AP) - No. 1 drugmaker Pfizer Inc. said Monday it is buying No. 12 Wyeth for $68 billion in a deal that ultimately will wipe out nearly 20,000 jobs but quickly boost Pfizer's revenue and profit and transform it overnight into a medicine cabinet for all.

Job-Killing Recession Racks Up More Layoff Victims

WASHINGTON (AP) - The recession is killing jobs at an alarming pace, with tens of thousands of new layoffs announced Monday by some of the biggest names in American business – Pfizer, Caterpillar and Home Depot.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 344 19,573
MORTGAGES 110 422 22,914
FORECLOSURE NOTICES 2 8,305 8,305
BUILDING PERMITS 207 838 40,029
BANKRUPTCIES 60 356 13,104
BUSINESS LICENSES 21 194 6,137
UTILITY CONNECTIONS 30 147 12,996
MARRIAGE LICENSES 15 65 4,842

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The Memphis News: Business, politics, and the public interest.