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VOL. 123 | NO. 196 | Tuesday, October 7, 2008

Topless-Club Owner in Court Over Cordova Restaurant

Over the past several months, construction has appeared to progress slowly or not at all at the Cordova property where topless-nightclub businessman Steve Cooper is building what he says will be a restaurant.

Interface Properties Re-Enters Memphis Market

A Florida development company absent from the Memphis market for the past few years is returning to the area with plans to develop outparcels at a Collierville retail center and a Germantown hotel.

Single-Source Funding Idea Faces Stiff Odds

It’s called a single source funding district – the plan that Memphis City Schools Superintendent Kriner Cash and Shelby County Schools Superintendent Bobby Webb unveiled last week.

Regardless of Own Role, Mayor Wants Consolidation

Memphis Mayor Willie Herenton’s latest consolidation call goes to a special joint meeting of the Memphis City Council and the Shelby County Board of Commissioners today.

BNSF Adds Fueling Facility To Memphis Intermodal Yard

5280 E. Shelby Drive, Memphis, TN 38118, Permit Amount: $1.6 Million -
BNSF Railway Co. has filed a $1.6 million application for permit with the city-county Department of Construction Code Enforcement to build a “hostler” fueling facility, which services the trucks moving cargo containers and trailers within the railroad’s facility.

Local Weather
Currently
Memphis, TN
38.0°F
Fair
Wind: South at 8.1 mph
Humidity: 65%

EVENTS

The University of Memphis will hold Sustainable Technologies Awareness Day today from 10 a.m. to 2 p.m. on the Student Plaza adjacent to the Administration Building. The campus-wide event will encourage environmental awareness. U of M president Dr. Shirley Raines will kick off the event at 9:30 a.m. For more information, contact Dr. Marian Levy at 678-4514 or mlevy@memphis.edu.

more events »

Bank of America Settles Lawsuits Over Bad Mortgages

SPRINGFIELD, Ill. (AP) – Facing a lawsuit over deceptive mortgage practices, Bank of America Corp. is agreeing to pay more than $8 billion to modify hundreds of thousands of loans to keep people from losing their homes.

Allianz to Invest $2.5B In Hartford Financial

CHARLOTTE, N.C. (AP) – Hartford Financial Services Group Inc. said Monday it will receive a $2.5 billion investment from Allianz SE.

Fed Will Provide as Much as $900B in Loans to Banks

WASHINGTON (AP) - The Federal Reserve will provide as much as $900 billion in cash loans to squeezed banks in an urgent effort Monday to break through a dangerous credit clog that threatens the economy and has unhinged financial markets around the globe.

Eli Lilly Agrees to Buy ImClone for Over $6B

INDIANAPOLIS (AP) - Eli Lilly & Co. has agreed to buy biotechnology company ImClone Systems Inc. for more than $6 billion in a deal that would expand Lilly's cancer treatment pipeline a few years before several patent expirations hit the drug maker.

Bush: Financial Rescue Plan Will Take Some Time

CINCINNATI (AP) - As Wall Street reeled and global markets plunged, President Bush on Monday said the U.S. economy is going to be "just fine" in the long run. But he cautioned that the massive rescue plan will take time to work.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 393 21,159
MORTGAGES 94 424 24,785
FORECLOSURE NOTICES 0 93 8,703
BUILDING PERMITS 173 1,010 43,347
BANKRUPTCIES 52 292 14,194
BUSINESS LICENSES 15 90 6,491
UTILITY CONNECTIONS 28 167 13,678
MARRIAGE LICENSES 12 89 5,158

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