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VOL. 123 | NO. 224 | Friday, November 14, 2008

Latest Numbers Paint Dreary Homebuilding Picture

The homebuilding industry suffered another period of slower sales and fewer starts in October, signaling a continued crisis in the housing market.

Payday Lenders Grouse About Proposed Ordinance

Lobbyists representing check-cashing businesses, payday lenders and auto title loan shops are meeting with Memphis and Shelby County lawmakers to voice their concerns over a proposed zoning ordinance designed to curb their growth.

Monday Vote Could Make — or Break — Bass Pro Agreement

The Shelby County Board of Commissioners’ vote on a development agreement for Bass Pro Shops at The Pyramid will probably be close Monday if this week’s vote by a committee is any indication.

Skinhead Charged In Obama Plot Wants Dismissal

A white supremacist charged with plotting a killing spree that would include President-elect Barack Obama wants his indictment dismissed, arguing that the federal grand jury that charged him had too many black members.

Conference Focuses on Alternative Crops

About 150 people involved in agribusiness came to Memphis this week for an alternative crops conference, including a sizeable contingent of farmers.

Local Weather
Memphis, TN
Mostly Cloudy
Wind: South at 9.2 mph
Humidity: 58%


The Seventh Annual Methodist Cancer Center Luncheon will be held today at 11:45 a.m. at The Peabody hotel, 149 Union Ave. James Carville and Mary Matalin will speak about today’s political climate. Tickets are $100. To purchase tickets, call 516-0500.

more events »

Evidence at Heart of Matter For Cooley, The Innocence Project

Craig Cooley compares the aftermath of a wrongful criminal conviction to the aftermath of a train crash.

Wal-Mart Posts Higher Q3 Profit, But Cuts Outlook

NEW YORK (AP) Wal-Mart Stores Inc. reported a 10 percent increase in third-quarter profit Thursday but trimmed its profit outlook because of the troubled global economy and the renewed strength of the dollar.

Jobless Claims Surge While Trade Deficit Narrows

WASHINGTON (AP) – Applications for unemployment benefits soared to the highest level since just after the Sept. 11, 2001, terrorist attacks while the trade deficit shrank more than expected as demand for imports plunged, further evidence of the struggling U.S. economy.

Banks Say They're Using Bailout Money for Loans

WASHINGTON (AP) – Some of the nation's largest banks sharing in the $700 billion government bailout of the financial industry tried to assure lawmakers Thursday they are using the money to make more loans and help financially strapped homeowners avoid foreclosure.

October Budget Deficit Hits Record of $237.2B

WASHINGTON (AP) – The federal government began the new budget year with a record deficit of $237.2 billion, reflecting the billions of dollars the government has started to pay out to rescue the financial system.

Democrats at Work to Tap Bailout for Automakers

WASHINGTON (AP) – Congressional Democrats are marshaling support for a rescue package to pump $25 billion in emergency loans to U.S. automakers in exchange for a government ownership stake in Detroit's car companies.

US Steel Lays Off 677 Workers in US, Canada

PITTSBURGH (AP)United States Steel Corp. said Thursday it is laying off 677 workers in the United States and Canada because of lower demand for steel amid the economic downturn.

Business Groups Compile G-20 Wish Lists

WASHINGTON (AP) – Business groups are seeking to use this weekend's international economic summit to put their stamp on any regulatory reform that could be adopted in the wake of the global financial crisis.

OECD Says Developed World Already in Recession

LONDON (AP) – The world's developed countries, hard hit by the financial crisis, have probably tipped into a recession that will last at least through the first half of 2009, according to new projections issued Thursday.

CIT Group Applies to Become Bank Holding Company

NEW YORK (AP) – CIT Group is applying to the Federal Reserve to become a bank holding company.

Zycron Awarded 3-year IT Contract with Tennessee

NASHVILLE, Tenn. (AP)Tennessee has chosen Zycron Inc. as its primary vendor to provide information technology services for the state for a company estimate of $30 million.

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PROPERTY SALES 94 494 11,526
MORTGAGES 99 552 13,427
BUILDING PERMITS 135 926 24,165
BANKRUPTCIES 63 276 7,473

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