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VOL. 123 | NO. 221 | Tuesday, November 11, 2008

Wharton Readies Bid For Memphis Mayor In 2011 Elections

First Fundraiser Next Week

"It will be a long time before that happens. We simply for legal reasons had to set up a different structure before we can spend money and raise money," Wharton said. "But I am serious about it. ... But I don't want to give the impression that I'll be on the street corner waving signs tomorrow."

Circuit City Files for Bankruptcy Protection

One week after announcing it would close 155 of its stores, including two in the Memphis area, Circuit City Stores Inc. reported Monday that it had filed for Chapter 11 bankruptcy protection.

Memphis’ First Green Hotel to Be Built Near Wolfchase

“Green” hotels might be all the rage on the West Coast, but they haven’t exactly caught on in the Mid-South.

UT Health Science Seeks Millions In Donations

Dr. Hershel Wall, chancellor of the University of Tennessee Health Science Center, is seeking $180 million in private donations so the institution can continue to grow.

DHL to Cut 9,500 U.S. Jobs

FRANKFURT, Germany (AP) – German mail and logistics company Deutsche Post AG will cut 9,500 jobs at its DHL unit in the U.S. and eliminate U.S.-only domestic express shipping by land and air, the company said Monday, citing heavy losses and fierce competition.

Local Weather
Currently
Memphis, TN
54.0°F
Mostly Cloudy
Wind: Southwest at 6.9 mph
Humidity: 34%

EVENTS

Memphis Heritage Inc. will host a Young Heritage meeting today at 6 p.m. at Howard Hall, 2282 Madison Ave. The meeting will include a discussion of future events, speakers and parties. For more information, call 272-2727.

more events »

FRS Powersports Building New Motorcycle/ATV Shop

2175 Whitten Road, Memphis, TN 38133, Loan Amount: $2 Million -
FRS Industries Inc., the company that owns and operates FRS Powersports, has filed a $2 million construction loan to build an 18,000-square-foot motorcycle and ATV shop at 2175 Whitten Road, just north of the Interstate 40 and Whitten Road interchange.

Sector Snap: Paper and Forest Products Companies

NEW YORK (AP) - Shares of paper and forest product companies fell Monday after an analyst said he expected weakening demand, lower prices and diminished earnings in the sector.

Government Provides Record Aid Package to AIG

WASHINGTON (AP) – In a record bailout of a private company, the government Monday provided a new $150 billion financial-rescue package to troubled insurance giant American International Group, including $40 billion for partial ownership.

Rates Drop at Weekly Treasury Bill Auction

WASHINGTON (AP) - Interest rates on short-term Treasury bills fell in Monday's auction with three-month bills dropping to the lowest level on record.

Homeowners Cling to False Optimism About Own Home

The housing market may have bust, but many homeowners are still living in a bubble.

Sector Snap: Specialty Apparel

NEW YORK (AP) - Shares of specialty apparel retailers were mixed Monday, ahead of several fiscal third-quarter earnings reports.

McDonald's Same-Store Sales Rise 8.2 Percent

NEW YORK (AP) - Consumers worldwide who are watching their spending bought more burgers and chicken breakfast biscuits at McDonald's in October, leading to a big rise in sales at established locations for the fast-food leader.

Wall Street Turns to Consumers To Gauge Economy

NEW YORK (AP) – Wall Street heads into another turbulent week with investors set to pore over a government report on retail sales and earnings from Wal-Mart Stores Inc. to get a better reading on consumers.

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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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