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VOL. 123 | NO. 226 | Tuesday, November 18, 2008

Council Rejects Police Residency Stretch Outside Shelby County

6-7 Vote Falls Along Racial Lines After Four Hour Debate

The 6-to-7 council vote rejected a resolution which would have allowed the police department to hire applicants who live within 20 miles of Shelby County.

Foreclosure Group Looks to Fight Back

A little more than a week ago, an ad hoc group that included bankers, elected leaders, civic officials and housing experts convened for an hour-long meeting inside the First Tennessee Bank building at 165 Madison Ave.

Bass Pro Development Agreement Approved On 9-3 Vote

Year Long Pact Means More Pyramid Negotiations

There is a development agreement between Bass Pro Shops and Memphis and Shelby County governments.

Vintage Homes, Next Solutions Form Partnership

Charles Morgan founded Vintage Homes LLC in 1979 and spent the past three decades transforming it into one of Shelby County’s leading homebuilders.

Small Business Center Provides Assistance During Tough Economic Times

The Tennessee Small Business Development Center stands ready to help businesses cope with today’s tough economic times and tight credit market.

Local Weather
Memphis, TN
A Few Clouds
Wind: Northeast at 8.1 mph
Humidity: 60%


The International Business Council will hold its fall meeting today from 4:30 p.m. to 7 p.m. at the Dixon Gallery and Gardens, 4339 Park Ave. Aaron S. Brickman, director of Invest in America, U.S. Department of Commerce, will speak. To register, contact Brenda Montgomery at bmontgomery@memphischamber.com or 543-3541.

more events »

Longleaf Managers See Brighter Days Ahead

That’s the way they put it in the quarterly report released last week for the Longleaf Partners family of mutual funds they manage. They used those words to describe themselves because they have in large part not been abandoned by shareholders of their funds – even though those funds have taken quite a beating this year.

SunTrust Receives $3.5 Billion from Gov't Program

NEW YORK (AP) - Regional bank SunTrust Banks Inc. said in a regulatory filing Monday that it received $3.5 billion in capital as part of the government's $700 billion bank rescue package.

Forecasters: Tough Road Ahead For Economy

WASHINGTON (AP) – The country is sinking deeper into the economic doldrums, and it’s likely to stay there for a while.

Enterprise Rent-A-Car Building 10,000-Square-Foot Facility

2424 Appling Road, Memphis, TN 38133, Permit Amount: $2.3 Million -
St. Louis-based Enterprise Rent-A-Car, a national car rental company, has filed a $2.3 million permit application with the city-county Department of Construction Code Enforcement to build a 10,000-square-foot facility on 13.11 acres of land at 2424 Appling Road. The parcel of land is just north of the Interstate 40 and Appling Road interchange and just south of the Reese Road and Appling Road intersection.

Auto-Aid Plan Prospects Dim in Partisan Stalemate

WASHINGTON (AP) - Prospects dimmed Monday for enactment of a $25 billion bailout for the faltering auto industry before year's end, as congressional Democrats and the Bush administration headed for a stalemate over the plan.

Hill Sources: Treasury Won't Use Full Bailout

WASHINGTON (AP) - The outgoing Bush administration has told top lawmakers it does not plan to use at least half of the $700 billion bailout fund that Congress approved this fall to aid the financial industry, congressional officials said Monday.

Citigroup to Shed Another 53,000 Jobs

NEW YORK (AP) - Citigroup Inc. is shedding approximately 53,000 more employees in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt.

Putnam Investments to Cut 47 Jobs, Merge Funds

BOSTON (AP) - Putnam Investments said Monday it will cut 47 jobs, including 12 portfolio managers, and merge six of its stock mutual funds into larger funds under a restructuring by the company's new top executive.

Target Plans Price Cuts Despite Lower Q3 Earnings

NEW YORK (AP) - Target Corp. said Monday it will aggressively cut prices to give consumers bargains during the holiday season, after weak sales of its apparel and home offerings led third-quarter earnings to fall 24 percent.

Lowe's Q3 Profit Falls 24 Percent on Slow Spending

CHICAGO (AP) - Lowe's Cos. Inc. posted better-than-expected third-quarter results Monday, even as profit slid more than 24 percent because shoppers postponed big-ticket purchases amid growing economic uncertainty.

Students, AAA Want Cell Phone Crackdown

KNOXVILLE, Tenn. (AP) - Forces are assembling to urge the Tennessee Legislature to curb people from using their cell phones while driving.

Two Hospital Groups Oppose Proposed Medical Center

OLIVE BRANCH, Miss. (AP) - Two hospital groups are opposing a decision by Memphis, Tenn.-based Methodist Le Bonheur Healthcare to seek direct approval from the Mississippi Legislature for a new $151 million acute care hospital in Olive Branch.

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