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VOL. 123 | NO. 213 | Thursday, October 30, 2008

The Commercial Appeal to Cut Several Jobs

Leaders of the Memphis Newspaper Guild meet today with Commercial Appeal executives to finalize the latest round of layoffs at the daily newspaper, which employs more than 650 people.

Justice Department Approves Delta-Northwest Combo

MINNEAPOLIS (AP) - Delta Air Lines got antitrust approval for its buyout of Northwest Airlines, one of the last hurdles to the deal it hopes to close by the end of this year.

State Supreme Court To Hear Cases In Memphis

The Tennessee Supreme Court is coming to Memphis on election day.

Scripps Networks Q3 Profit Dips on Spinoff Charge

CINCINNATI (AP) - Scripps Networks Interactive Inc. said Wednesday that its third-quarter profit dipped 1 percent on charges related to its separation from former parent company E.W. Scripps Co.

Political Talk Inevitable at Freedom Awards

A week away from election day, the coming presidential election served as a backdrop for this year’s Freedom Awards presented by the National Civil Rights Museum.

Local Weather
Currently
Memphis, TN
77.0°F
Light Rain
Wind: from the North at 12.7 gusting to 20.7 mph
Humidity: 82%

EVENTS

The University of Memphis will host a five-part series titled “Let’s Talk About It: Jewish Literature–Identity and Imagination,” in Room 226 of the University of Memphis McWherter Library. The next session will be held from 11:30 a.m. to 1 p.m. today. The final session will be held Dec. 4. The series, which discusses Jewish literature, is free and will be led by Dr. David Patterson. For more information or reservations, contact Ross Johnson at 678-8211 or rmjohnsn@memphis.edu.

more events »

Outlook Bleak for Investment in Health Care Startups

Venture capital fund managers gave a bleak outlook for new investments in startup health care companies at the Musculoskeletal New Ventures Conference this week, but they did note that people who choose to invest in proven companies could see big payoffs.

'Skinhead Plot' Suspects To Appear in Court Today

Two men who allegedly plotted to kill Democratic presidential nominee Barack Obama in a suicide attack make their second court appearance today in Memphis federal court.

Wal-Mart Scales Back Expansion in Tough Economy

NEW YORK (AP) Wal-Mart Stores Inc. is navigating the global economic slowdown by scaling back its store growth and capital expenditures and, instead, focusing on remodeling existing locations and creating smaller outposts.

Wal-Mart to Adjust Existing Stores

ROGERS, Ark. (AP)Wal-Mart Stores Inc. is launching a new design for its supercenters, which will feature wider aisles, lower shelves and a more convenient layout.

Fed Cuts Key Interest Rate To 1 Percent

WASHINGTON (AP) – The Federal Reserve Wednesday slashed a key interest rate by half a percentage point as it sought to revive an economy hit by a long list of maladies stemming from the most severe financial crisis in decades.

Shipman Discusses Financial, Real Estate Crises

O. Douglas Shipman is a partner at Marks, Shipman & Lansky and the principal of the law office of O. Douglas Shipman PC. Marks, Shipman & Lansky is a corporate finance, real estate and banking firm.

Gov't Prepares Loan Modification Plan

WASHINGTON (AP) - The government is preparing to unveil a plan as soon as Thursday guaranteeing around $500 billion in loans to troubled borrowers, sources familiar briefed on the matter said.

Report: Governments Not Adequately Protecting SSNs

NASHVILLE, Tenn. (AP) - A recent study shows Tennessee's state and local governments need to make improvements in the protection of Social Security numbers.

Comcast Q3 Profit Rises 38 Percent, Co. Boosts Outlook

PHILADELPHIA (AP) - Comcast Corp., the nation's largest cable operator, on Wednesday reported a 38 percent increase in third-quarter earnings as a sharp drop in capital spending and higher cable TV rates buoyed its bottom line.

Report: US Drug Sales Growth Heads Toward New Low

WASHINGTON (AP) - U.S. sales of pharmaceuticals will grow at the slowest rate on record this year, as the weakening economy compounds other factors hampering the industry, according to a report issued Wednesday.

Report: GM Postponing Product Development Spending

DETROIT (AP) - General Motors Corp. is postponing nearly all of its spending on product development in 2009 and 2010 as part of a cost-cutting effort, an automotive trade publication reported Wednesday.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 110 188 14,031
MORTGAGES 126 219 16,224
FORECLOSURE NOTICES 12 17 2,219
BUILDING PERMITS 170 411 29,164
BANKRUPTCIES 57 116 9,042
BUSINESS LICENSES 23 52 4,753
UTILITY CONNECTIONS 29 66 5,599
MARRIAGE LICENSES 19 56 3,038

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