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VOL. 123 | NO. 211 | Tuesday, October 28, 2008

Nurse Wage-Fixing Suit Seeks Class Action Status

Attorneys for two nurses suing Memphis-area hospitals over an alleged wage-fixing conspiracy have filed a motion in federal court to make the case a class action lawsuit.

CCC Ready to Write Off Loan Defaults

Three Downtown businesses that have filed for bankruptcy protection since December collectively owe the Center City Commission more than $151,000 in unpaid loan debt.

Early Voting Totals Headed for Record

More than 156,000 early votes were cast through Saturday in Shelby County.

Young Building Company Coasting Along, Owners Say

In the summer of 2006, Greg Bridgers and Kevin White left their respective homebuilding companies to form Southern Serenity Homes LLC. The longtime friends – “almost like brothers,” Bridgers said – saw the partnership as a chance to forge something new: to build homes the way they wanted at the pace they wanted, about 100 to 125 homes per year.

SunTrust Banks to Receive $3.5B From Treasury

ATLANTA (AP)SunTrust Banks Inc. reported Monday it has received preliminary approval from the U.S. Treasury Department for a $3.5 billion investment under the government’s capital purchase program.

Local Weather
Memphis, TN
Partly Cloudy
Wind: Southwest at 6.9 mph
Humidity: 88%


The Freedom Award Dinner and Ceremony will be held today at 6:30 p.m. at the Memphis Cook Convention Center, 255 N. Main St. The annual award ceremony will pay tribute to the people whose accomplishments depict the spirit of the civil rights movement. Faith Hill and Oleta Adams will perform. Cost is $200. For more information, call 521-9699, Ext. 237.

more events »

Treasury Set To Dish Out Rescue Funds

WASHINGTON (AP) – The Treasury Department will start doling out $125 billion to nine major banks this week to get credit flowing again, giving a lift to U.S. markets on rising confidence that the government’s moves would stave off a protracted recession.

Wal-Mart Officials To Meet About Combating Slump

NEW YORK (AP) Wal-Mart Stores Inc.’s plans to navigate a consumer spending slump feared to be deep and long-lasting will be at the front of investors’ minds at the company’s two-day meeting starting Monday. The discounter is also expected to offer analysts an update on its capital expenditures forecast.

Aintree Farms to Build Replacement Clubhouse

3310 Winners Circle, Germantown, TN 38138, Permit Amount: $1.3 Million -
The Aintree Farms subdivision in Germantown will rebuild its clubhouse, which burned down two years ago in an electrical fire. The neighborhood last week filed a $1.3 million permit application with the city-county Department of Construction Code Enforcement to build the 7,100-square-foot facility.

Gasoline Prices Below $2/Gallon in Parts of US

HOUSTON (AP) - Gasoline prices have fallen below $2 a gallon in some parts of the U.S. as the impact of plunging oil prices and reduced driving are finally taking hold.

Talks to End Boeing Strike Continue in Washington

SEATTLE (AP) - Negotiations to end a 51-day strike against Boeing Co. continued Sunday with no word on progress.

Arch Coal's Profits Up; Company Lowers Forecast

ST. LOUIS (AP) - Coal-producing Arch Coal Inc. said Monday its third-quarter earnings more than tripled, beating Wall Street's expectations. But the miner lowered its earnings outlook for the year, citing near-term softening of coal demand.

Banks to Use Gov't Funds for Lending, Dealmaking

NEW YORK (AP) - A number of financial institutions, including Capital One inancial Corp. and SunTrust Banks Inc., have announced they will receive funds under the Treasury Department's capital purchase program.

Humana Reports Sharply Lower 3Q Earnings

LOUISVILLE, Ky. (AP) - Humana Inc. said Monday its third-quarter profit tumbled nearly 40 percent, dragged down by a bitter dose of investment losses and an expected decline in premiums from its Medicare prescription drug plans.

Verizon 3Q Earnings Up 31 Percent

NEW YORK (AP) - Verizon Communications Inc. said Monday earnings rose 31 percent in the third quarter as wireless did better than expected, while its traditional phone business continued to decline.

Assassination Plot Targeting Obama Disrupted

WASHINGTON (AP) - Federal agents have broken up a plot by two neo-Nazi skinheads to assassinate Democratic presidential candidate Barack Obama and shoot or decapitate 102 black people, the Bureau of Alcohol, Tobacco Firearms and Explosives said Monday.

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PROPERTY SALES 119 482 10,051
MORTGAGES 119 497 11,811
BUILDING PERMITS 268 1,056 21,366
BANKRUPTCIES 50 263 6,700

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