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VOL. 124 | NO. 6 | Friday, January 9, 2009

DeSoto Tops for Industrial Real Estate

Sale after sale, lease after lease, DeSoto County in 2008 retained its role as the area’s dominant player in industrial real estate with a host of high-profile transactions.

Local Developer Mixed Up In Pickwick Dispute

A once-wooded site that was supposed to be a $4 million, 31-acre marina development on the Mississippi side of Pickwick Lake is now a red clay hill at the center of a federal lawsuit involving a Collierville resident and a contest for control of the Tennessee Valley Authority-owned land.

Council Frets Over Next Move in Lee Case

In an attorney-client meeting this week, Memphis City Council chairman Myron Lowery laid out some options his fellow council members could pursue in defending themselves against a lawsuit filed last month by a former city official.

Wal-Mart’s Same-Store Sales Miss Forecasts

NEW YORK (AP) Wal-Mart Stores Inc. reported Thursday that its December sales at established stores edged upward, but the gain was less than analysts expected and the discounter cut its earnings forecast for the rest of its fiscal year.

Walgreens to Cut Corporate Jobs

Walgreens employs about 2,300 people in the Memphis area, but only a few of those jobs will be lost when the company cuts about 1,000 corporate positions.

Local Weather
Memphis, TN
Mostly Cloudy
Wind: North at 5.8 mph
Humidity: 84%


The Memphis Advertising Federation will hold a “Seminar on Trademarks and Intellectual Properties” by Alan G. Crone of Crone & Mason PLC today from 11 a.m. to 1 p.m. at the University Club of Memphis, 1346 Central Ave. Cost is $30 for members and $40 for guests. For reservations, contact Pam Routh at 550-2114 or pamcts@bellsouth.net. For more information, visit www.memphisadfed.org.

more events »

US Retailers Report Dismal December Sales

NEW YORK (AP) – Retailers reported dismal sales figures for December on Thursday as even Wal-Mart Stores Inc., one of the bright spots in the industry, finally buckled under the pressures of the deteriorating U.S. economy.

Another Year, Another Approach For Herenton’s Consolidation Hope

Once he started the first workweek of the New Year, Memphis Mayor Willie Herenton was handed a piece of paper. It is something that happens frequently. Usually there is a name and a phone number written on the scrap of paper and a brief description of a problem.

Senators Call for Coal Ash Regulation

WASHINGTON (AP) - Senate Democrats said Thursday they want stricter rules for toxic ash from coal-fired power plants following a massive spill in Tennessee that has threatened drinking water and caused health fears.

Horne: Dems Should Unite Behind Governor Candidate

NASHVILLE, Tenn. (AP) - Former state Democratic Party chairman Doug Horne is calling for potential gubernatorial aspirants to rally behind a single strong candidate for 2010.

Citi Reaches Deal with Lawmakers on Home Loans

WASHINGTON (AP) - Democratic lawmakers have reached a deal with Citigroup Inc. on a plan to let bankruptcy judges alter home loans in an effort to prevent foreclosures and urged other lenders to follow suit.

Tenn. General Assembly Overhauls Web Site

NASHVILLE, Tenn. (AP) - The Tennessee General Assembly is launching an overhauled Web site that officials say will make it easier to track bills and to watch video about specific legislative measures.

Kashkari: US Financial System 'More Stable'

WASHINGTON (AP) - The head of the government's $700 billion financial rescue program said Thursday that the effort has made the United States' financial system more stable.

GlaxoSmithKline Opening Huge Eastern Vaccine Plant

MARIETTA, Pa. (AP) - British drugmaker GlaxoSmithKline PLC is moving to expand its vaccine business in the key U.S. market by opening a sprawling East Coast vaccine factory, with production targeted to begin in April.

NCR Closing Viroqua Plant

VIROQUA, Wis. (AP) - A company that manufactures supplies for ATMs and retail checkout machines said Thursday it will close a plant in Wisconsin as it moves production to Tennessee.

Macy's Will Shutter 11 Stores in 9 States

NEW YORK (AP) - Department-store operator Macy's Inc. said Thursday it will close 11 underperforming stores in nine states – affecting 960 employees – and lowered its forecast for the fourth quarter after one of the weakest holiday seasons in years.

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PROPERTY SALES 84 84 12,005
MORTGAGES 78 78 13,948
BUILDING PERMITS 147 147 25,286
BANKRUPTCIES 58 58 7,820

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