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VOL. 125 | NO. 19 | Friday, January 29, 2010

Frequent Flier

Wharton racks up miles to promote city

Memphis Mayor A C Wharton Jr. is quickly evolving into a virtual one-man chamber of commerce.

Inman Construction Acquired by EMJ Corp.

The longtime Memphis-based commercial construction firm Inman Construction has been acquired by Chattanooga, Tenn.-based EMJ Corp., the companies announced Thursday.

Common Table’s Frazier Takes Business of Healthy City Seriously

One year into the job as executive director of Healthy Memphis Common Table, Renee Frazier has mapped out a “take charge” agenda.

2009 Cargo Numbers Up at Memphis Int’l

Officials at Memphis International Airport spent Thursday preparing for the harsh winter weather possibly headed this way, but they also discussed ways in which the airport has been dealing with a brutal economic climate.

MED Funding a State Issue, Leaders Say

The issue of double taxation reared its head this week as a plan to provide $12 million in local emergency funding for the Regional Medical Center at Memphis scored $10 million.

MED Officials Brace for News In Bredesen’s Budget Address

After having made their case to Nashville powerbrokers this week for more funding for the Regional Medical Center at Memphis, officials with The MED are bracing for the news that will come Monday night.

MEMPHIS AREA

Shelby County Sees 0.3 Pct Rise in Unemployment

Shelby County saw a 10.3 percent unemployment rate in December, up 0.3 percent from the November rate. Shelby County was among 91 counties that saw increases, while one county saw a decrease and in three counties, unemployment remained the same.

STATEWIDE

Rural Officials Get Help with Economic Development

NASHVILLE, Tenn. (AP) - Elected officials in 28 rural Tennessee counties are eligible to apply for scholarships to educate them about economic development.

New Ethanol Plant Uses Non-Edible Switchgrass

CHATTANOOGA, Tenn. (AP) - The nation's first plant that exclusively makes ethanol fuel from non-edible switchgrass and corncobs has its grand opening Friday.

STATE LEGISLATURE

Senate Votes to Place Hunting Amendment on Ballot

NASHVILLE, Tenn. (AP) - The Tennessee Senate has voted to place a constitutional amendment guaranteeing the right to hunt and fish on the ballot in November.

Former State Sen. Don McLeary Seeking Rematch

JACKSON, Tenn. (AP) - Former state Sen. Don McLeary of Humboldt is seeking a rematch against the Democrat who beat him in 2006.

Tenn. Lawmakers Object to Honoring Michael Jackson

NASHVILLE, Tenn. (AP) - Some Tennessee lawmakers have objected to a resolution honoring late pop superstar Michael Jackson.

REGIONAL

Lawsuit Settled Over Deadly Miss. Paper Mill Blast

JACKSON, Miss. (AP) - Two brothers injured in a deadly explosion at an International Paper Co. mill in Mississippi have agreed to settle their federal lawsuit.

NATIONAL BUSINESS

Government Reports Show Weak Economic Growth

WASHINGTON (AP) – Reports released Thursday give evidence the economic rebound remains sluggish based on new claims for unemployment aid and orders to U.S. factories.

Wal-Mart Stores Reorganizes US Operations

NEW YORK (AP) - Wal-Mart Stores Inc., the world's largest retailer, said Thursday it is realigning its U.S. operations in an effort to give more autonomy to executives in regional markets and reinvigorate U.S. growth.

NATIONAL POLITICS

Senate Rejects Near-Freeze on Spending

WASHINGTON (AP) - Just days after President Barack Obama endorsed a partial freeze on domestic spending, his Democratic allies in the Senate have rejected a plan attempting to do pretty much the same thing.

REAL ESTATE

Gov't Eases Paperwork for Loan Help Program

WASHINGTON (AP) - Homeowners seeking relief under the Obama administration's mortgage aid program will be required to provide proof of their incomes upfront, a significant reversal for the problem-plagued effort to stem the foreclosure crisis.

Mortgage Rates Nearly Flat This Week

McLEAN, Va. (AP) - Rates on 30-year mortgages remained almost flat this week as the Federal Reserve said it would keep rates near record lows to help the economy recover.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 115 270 19,843
MORTGAGES 141 311 23,225
FORECLOSURE NOTICES 35 83 8,387
BUILDING PERMITS 0 338 40,366
BANKRUPTCIES 74 196 13,300
BUSINESS LICENSES 25 48 6,185
UTILITY CONNECTIONS 40 125 13,120
MARRIAGE LICENSES 15 73 4,915

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