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VOL. 124 | NO. 3 | Tuesday, January 6, 2009

’05 Bankruptcy Amendment To Be Tested in ’09

The painful economic slump of 2008 has many vantage points from which the wreckage can be studied.

Partners Proceed With Millington Development

At a time when many real estate developers are putting the brakes on projects, the partners behind Thornhill Estates in Millington are keeping their feet on the proverbial gas pedal.

Gibbons to Run For Governor

The day after former U.S. Senate Majority Leader Bill Frist announced he wouldn’t be running for Tennessee governor in 2010, other Republican contenders began staking their claims in the statewide race.

Work Progresses on Hope VI Development

Construction crews didn’t let a little Monday morning mud stop them from building new apartments at University Place, a Hope VI housing development.

GTx, UT Foundation Reach Agreement

GTx Inc. and the University of Tennessee Research Foundation have reached an agreement in a dispute over income from a drug therapy, the company said in a filing with the Securities and Exchange Commission.

Local Weather
Currently
Memphis, TN
77.0°F
Fair
Wind: Calm mph
Humidity: 77%

EVENTS

The Memphis Rotary Club will meet today at noon in Ballroom B of the Memphis Cook Convention Center, 255 N. Main St. State Sen. Jim Kyle, D-Memphis, will address the financial problems currently facing Tennessee. Lunch is $18 per person, payable at the door. For reservations, e-mail Taylor Hughes at taylor@memphisrotary.org.

more events »

Mulroy Goes After Missing Motel Taxes

Shelby County may have lost as much as $2.5 million each year for the past several years in unpaid hotel/motel tax revenue because of the rise of Internet-based travel companies such as Orbitz.com and Expedia.com, according to a resolution the Shelby County Board of Commissioners will discuss Wednesday.

Legal Community Bids Farewell to Stotts, Johnson

Two Shelby County judges who died on the same day are being mourned this week by the Memphis legal community.

NY Fed Begins Buying Mortgage Securities

NEW YORK (AP)The Federal Reserve Bank of New York reported Monday it has begun purchasing mortgage-backed securities in an effort to bolster the battered housing market.

Newly Merged Renal Firm To Improve Poplar Ave. Building

1333-1341 Poplar Ave., Memphis, TN 38104, Permit Amount: $1.2 Million -
Franklin, Tenn.-based National Renal Alliance LLC has filed a $1.2 million permit application with the city-county Office of Construction Code Enforcement to make alterations to the 18,482-square-foot building at 1333-1341 Poplar Ave.

Medtronic Starts Trial of Complete SE Stent

MINNEAPOLIS (AP) - Medical device maker Medtronic Inc. said Monday it started enrolling patients in a trial of its self-expanding Complete SE stent, as it tests the stent's ability to widen blood vessels in the thigh.

Va. Co Acquires Nuclear Fuel Provider Based in Tenn.

ERWIN, Tenn. (AP) - A Virginia company that specializes in nuclear technology services has completed its acquisition of Tennessee-based Nuclear Fuel Services Inc. for an undisclosed price, the companies announced Monday.

Obama Predicts Quick Approval of Econ Rescue Plan

WASHINGTON (AP) - President-elect Barack Obama declared the U.S. economy was "bad and getting worse" Monday as he began crisis talks with congressional leaders on emergency action. He predicted lawmakers would approve hundreds of billions of dollars in new spending and tax cuts within two weeks of his taking office.

Ill. Gov's Brother Won't Cooperate with Feds

CHICAGO (AP) - An attorney for Gov. Rod Blagojevich's brother says his client won't cooperate with federal investigators if he's formally asked.

Toyota, Honda Lead Declines in Dec. Auto Sales

DETROIT (AP) - Toyota and Honda's U.S. sales fell more than their U.S. competitors' in December, with Toyota's 37 percent decline and Honda's 35 percent drop showing the Japanese company's popular fuel-efficient models were little help as consumers steered clear of showrooms due to the dismal economy.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 98 238 15,862
MORTGAGES 122 284 18,332
FORECLOSURE NOTICES 13 34 2,439
BUILDING PERMITS 137 452 32,966
BANKRUPTCIES 62 178 10,191
BUSINESS LICENSES 23 73 5,251
UTILITY CONNECTIONS 28 92 6,240
MARRIAGE LICENSES 13 63 3,476

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