VOL. 123 | NO. 229 | Friday, November 21, 2008
Memphis International Airport will host the Airport Cities World Conference and Exhibition in April 2011, giving the city a chance to showcase the airport – and its burgeoning aerotropolis concept – to executives from around the globe.
Methodist Le Bonheur Healthcare is cutting 99 positions at its hospitals and offices.
About four months after the city of Memphis pulled the plug on a $2.5 million utility assistance program intended to help the working poor pay their power bills, the Memphis City Council has approved another $2.5 million in utility assistance.
Harrah’s Entertainment, which announced this week the closure of its Memphis operations, already had been shrinking its presence in the South although it remains the dominant player in the Tunica market.
Shelby County Mayor A C Wharton Jr. drew more than 100 people to a $500-a-head fundraiser this week at The Racquet Club of Memphis.
Graceland turns on the most famous Christmas lights in rock ‘n’ roll this evening in Whitehaven, and country music star Martina McBride will be in Graceland Plaza to throw the switch on the rows of blue lights.
WASHINGTON (AP) – Pounded by a fierce financial crisis, the United States is sinking deeper into economic despair that has pushed the number of newly laid-off workers to a 16-year high, with problems likely to stretch well into next year.
The retail market in Raleigh took another hit this week when the Raleigh Plaza shopping center at the northeast corner of Austin Peay Highway and Yale Road was demolished.
The Herenton administration’s plan to take a development agreement for the Fairgrounds to the City Council was delayed this week. The delay came the same week that the Shelby County Board of Commissioners finally approved a development agreement for Bass Pro Shops to remake The Pyramid.
It might seem counterintuitive that a small Memphis marketing and communications agency like RedRover Co. LLC is adding to its staff at a time of economic uncertainty and palpable fear in the business world. RedRover recently brought Cynthia Latourette on board as a marketing coordinator and account executive.
West Virginia-based Plethora Technology, which developed and received a patent earlier this year for the technology, chose Sparco.com because of its reputation and Memphis-area location, said Annette Kerlin, chief executive officer of Plethora.
DENVER (AP) - GMAC Financial Services, the financing arm of General Motors, said Thursday it applied to become a bank holding company, making it eligible for aid under the government's $700 billion bank rescue plan.
NEW YORK (AP) - Citigroup Inc. shares tumbled below $5 a share Thursday for the first time in 15 years, a sign that a Saudi prince's decision to boost his stake in the bank failed to galvanize confidence among increasingly anxious investors.
NEW YORK (AP) - Investors flooded into government debt again on Thursday, sending Treasury yields to multiyear lows as ongoing worries about an auto industry collapse impede the credit markets' attempts at a recovery.
NEW YORK (AP) - A restructuring expert overseeing the liquidation of Lehman Brothers will replace Richard Fuld as chief executive on Dec. 31, Lehman lawyer Harvey Miller said Thursday.
WASHINGTON (AP) - A plan to give troubled U.S. automakers billions of dollars in government-backed loans is on life support, leaving the fate of hundreds of thousands of workers and Detroit's once-venerable car companies hanging in the balance.
BENTONVILLE, Ark. (AP) - Wal-Mart Stores Inc. says it has invested in a wind energy farm in Texas that will generate enough power to light 15 percent of its Texas operations.
NEW YORK (AP) - After pushing steep discounts throughout November that are usually reserved for the day after Thanksgiving, retailers from Kohl's to Toys "R'' Us are offering even bigger cuts and promotions for Black Friday in a frantic bid to pull in shoppers.