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VOL. 124 | NO. 232 | Wednesday, November 25, 2009

Magna Bank Reports Stronger Numbers in Q3

It was only a few months ago that Kirk Bailey, chairman, president and CEO of Memphis-based Magna Bank, told shareholders the previous year had been nothing short of cataclysmic for the financial industry.

Muller to Tout City’s Position For Shipping

Memphis’ role in the global supply chain is often underappreciated, but shippers moving auto parts from Yokohama to Yazoo City or electronics from Beijing to Birmingham understand this city’s importance.

Merchants Hope for Better Shopping Season

Dolls perch atop shelves, fluffy creatures dangle toward the floor and wheeled speedsters hug the wall tops at the Village Toymaker, which is fully stocked for the holiday shopping season.

Sex Slavery Not Foreign to Memphis, Mid-South

Among the charges filed against North Carolina mother Antoinette Nicole Davis after her daughter’s body was found in a wooded area Nov. 16 was human trafficking – that she had sold her child into prostitution.

Garrison Appointed to Leadership Post for American Bar Section

Grady M. Garrison has been appointed to serve as vice chair of the Intellectual Property Litigation Subcommittee for the American Bar Association Litigation Section.

Local Weather
Currently
Memphis, TN
33.0°F
Fair
Wind: Calm mph
Humidity: 70%

EVENTS

Talk Shoppe will present “Open Microphone” Wednesday from 9 a.m. to 10 a.m. at the Better Business Bureau of the Mid-South, 3693 Tyndale Drive. For more information, call Jo Garner at 482-0354.

more events »

Fitz Casino’s Parent Files for Bankruptcy

The Majestic Star Casino LLC, the parent company of Fitz Casino & Hotel in Tunica, reported Tuesday morning it had filed for bankruptcy in an attempt to restructure its debt.

STATEWIDE

Tennessee Gets $1.2 Million for Higher Ed

NASHVILLE, Tenn. (AP) - The Lumina Foundation for Education is granting up to $1.2 million to Tennessee for higher education.

Spring Hill GM Plant is Idled

SPRING HILL, Tenn. (AP) - At its peak, about 7,800 people clocked in daily for work at the Saturn plant.

Tennessee Traffic Fatalities Down So Far This Year

NASHVILLE, Tenn. (AP) - Heading into the busy Thanksgiving travel weekend, Tennessee traffic deaths are down significantly this year.

REGIONAL

Swine Flu Vaccine at Miss. County Health Depts.

JACKSON, Miss. (AP) - The Mississippi State Department of Health said Tuesday that swine flu nasal mist vaccine is now available free at county health departments for all healthy residents from 2 years to 49 years old.

NATIONAL BUSINESS

Economy’s Rebound not as Strong as First Thought

WASHINGTON (AP) – The economy is growing modestly, with consumers too wary about spending to invigorate the recovery.

Fed: Super-Low Rates Could Fuel Speculative Bubble

WASHINGTON (AP) - The Federal Reserve doesn't expect the recovery will be strong enough to quickly drive down the jobless rate, and acknowledged its efforts to keep the rebound going could feed a new speculative bubble.

Banks Earn $2.8B in Q3; FDIC Says Dangers Persist

WASHINGTON (AP) - The apparent end of the recession and stabilizing financial markets have not cured the banking industry, as souring and past-due loans have reached the highest levels in 26 years, the Federal Deposit Insurance Corp. said Tuesday.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 115 270 19,843
MORTGAGES 141 311 23,225
FORECLOSURE NOTICES 35 83 8,387
BUILDING PERMITS 0 338 40,366
BANKRUPTCIES 74 196 13,300
BUSINESS LICENSES 25 48 6,185
UTILITY CONNECTIONS 40 125 13,120
MARRIAGE LICENSES 15 73 4,915

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The Memphis News: Business, politics, and the public interest.