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VOL. 124 | NO. 208 | Thursday, October 22, 2009

The MED Plans ER Closure

Still dealing with millions of dollars worth of red ink after implementing numerous cost-cutting measures, the board of the Regional Medical Center at Memphis on Wednesday proposed shutting down its emergency room.

Buehler Homes Proposal Approved

A plan by Buehler Homes to build 125 rental homes on 140 parcels of tax delinquent land was approved Wednesday by the Shelby County Commission.

Chaotic Council Welcomes Wharton To ‘Land of Fire’

Memphis Mayor-elect A C Wharton Jr. got an early welcome to the ways of City Hall in the week before he took the oath of office.

FDIC Report Offers Insight Into Banks’ Market Share

First Tennessee Bank commands more than a third of the bank deposit market share in the Memphis area, while its closest rival has about half that amount.

Memphis to Shed Five Regions Branches in Consolidation Move

Regions Financial Corp., in the wake of reporting a third quarter net loss of $437 million, is planning to close 6 percent of its roughly 1,900-branch network, which equates to 121 branches.

Local Weather
Currently
Memphis, TN
42.0°F
Fair
Wind: South at 8.1 mph
Humidity: 60%

EVENTS

SCORE will host a seminar titled “How to Successfully Operate a Small Business” today from 7:45 a.m. to 4:30 p.m. in the eighth floor conference room of Clark Tower, 5100 Poplar Ave. Cost is $79 in advance and $99 at the door. To register, call 544-3588 or visit www.scorememphis.org.

more events »

Lien-Inspired Court Fights Continue

The Regional Medical Center at Memphis contends it’s entitled to a chunk of the settlements many of its patients receive from automobile accidents and other injury-causing events, but some of those patients are challenging that assertion.

CVS Ventures Into Local, Walgreens-Dominated Market

CVS is already bringing one pharmacy to U.S. 64 and Houston Levee Road in Cordova, and the company last week secured the land where it will build its second Memphis store.

C’ville Beer Board Doles Out Double Whammy

The Collierville Beer Board unanimously voted Tuesday to suspend the beer permit of the Collierville Gas and Food Mart at 651 W. Poplar Ave. at its monthly meeting.

University Recognizes Innovations at Health Science Center

The University of Tennessee Research Foundation has recognized the work of professors at UT Health Science Center who are inventing new drugs, vaccinations, medical devices and research tools.

Tennessee Bar Foundation Names Stratton to Board of Trustees

Irma Merrill Stratton, an attorney at The Law Office of J. Houston Gordon, recently was elected to the Tennessee Bar Foundation’s Board of Trustees.

STATEWIDE

Tenn. AG: Pardoned Drug Felons Can't Buy Handguns

NASHVILLE, Tenn. (AP) - Tennessee Attorney General Bob Cooper has issued a legal opinion that says people who have received pardons for their felony drug convictions can own any type of firearm except handguns.

Jury Acquits Former State Sen. Jeff Miller

CLEVELAND, Tenn. (AP) - A jury has acquitted former state Sen. Jeff Miller on a charge of accepting pay for work he didn't do as Bradley County's delinquent tax attorney.

REGIONAL

Barbour Says Special Session Call Coming

JACKSON, Miss. (AP) - Gov. Haley Barbour has told a gathering of business leaders in Jackson that he will call a special legislative session late next week for a $300 million economic development project in the Delta.

NATIONAL BUSINESS

CDC Concedes Vaccine Production Behind Schedule

WASHINGTON (AP) - A top-ranking official of the Centers for Disease Control and Prevention says production of a vaccine for swine flu virus is behind schedule and people should take precautionary steps to prevent its spread.

Morgan Stanley Posts First Profit of Year

NEW YORK (AP) - Morgan Stanley returned to profitability for the first time in a year as income from its investment banking operations offset losses in commercial real estate.

Boeing Posts $1.6B Loss in Q3 on Plane Charges

PITTSBURGH (AP) - Boeing Co. lost $1.6 billion in the third quarter, hurt by growing costs from two troubled plane programs that forced the airplane maker to slash its profit forecast.

Bailout Watchdog Expects Much to Remain Unrefunded

WASHINGTON (AP) - The man who watches over the $700 billion in government money given to banks and other institutions to avert a financial collapse said Wednesday he thinks it's too early to say how much will be repaid to the taxpayers.

Bernanke Weighs Faster Credit Card Protection

WASHINGTON (AP) - Moving up the effective date of tough new regulations to protect credit card customers from sudden interest rate increases could be a double-edged sword, according to Federal Reserve Chairman Ben Bernanke.

US Plans Big Pay Cuts at Bailout Firms

WASHINGTON (AP) - The Obama administration plans to order companies that received huge U.S. government bailouts last year to sharply cut the compensation of their highest paid executives, according to a person familiar with the decision.

NATIONAL POLITICS

Tenn. Senator Says Obama Showing Nixonian Tendencies

WASHINGTON (AP) - The third-ranking Senate Republican said Wednesday the Obama administration appears to be launching a Richard Nixon-like political strategy of making an "enemies list" of people who disagree with the president.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 82 82 19,655
MORTGAGES 75 75 22,989
FORECLOSURE NOTICES 7 7 8,311
BUILDING PERMITS 138 138 40,167
BANKRUPTCIES 72 72 13,176
BUSINESS LICENSES 9 9 6,146
UTILITY CONNECTIONS 52 52 13,048
MARRIAGE LICENSES 30 30 4,872

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