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VOL. 124 | NO. 216 | Tuesday, November 3, 2009

FedExForum Financing Could See City Collecting

An internal city audit suggests Memphis and Shelby County might be due more than half a million dollars because of a gray area in the $250 million FedExForum’s complex financing scheme.

PILOTs Considered for Whitehaven Properties

The Memphis Health, Educational and Housing Facility Board will consider granting payment-in-lieu-of-taxes (PILOT) status to a pair of apartment complexes at this week’s public meeting, set for Wednesday at noon in the board’s conference room at 65 Union Ave.

GTx Receives ‘Complete Surprise’ From Food and Drug Admin

The stock of Memphis-based GTx Inc. plunged 45 percent Monday morning after the company explained why the U.S. Food and Drug Administration did not grant approval for its drug to prevent bone fractures in men with prostate cancer who are undergoing hormone deprivation treatment.

Trustee’s Office Spreads Word On Tax Relief Programs

So far this tax year, the Shelby County Trustee’s office seems to be fielding fewer applications for state-funded tax relief as well as the county-sponsored tax freeze program. But that doesn’t have Trustee Regina Morrison Newman worried yet.

Building Permit Brings Wally Joe Restaurant Closer to Reality

690 S. Perkins Road, Memphis, TN 38117, Permit Amount: $800,000 -
The ownership group that plans to bring a restaurant to 690 S. Perkins Road in the East Central/Poplar-Perkins area of East Memphis has filed an $800,000 permit to expand and renovate the property’s 2,764-square-foot house.

Local Weather
Currently
Memphis, TN
73.0°F
Fair
Wind: Northwest at 4.6 mph
Humidity: 79%

EVENTS

The Greater Memphis Chamber will present the fourth breakfast meeting in its Human Health Series today from 7:30 a.m. to 9 a.m. at The Crescent Club, 6075 Poplar Ave. The meeting is free to members and prospective members. For reservations, contact Ericka Milford at emilford@memphischamber.com or 543-3518.

more events »

Memphis City Council Agenda

The Memphis City Council will meet today at 3:30 p.m. in the Council Chambers at City Hall, 125 N. Main St. The council will be discussing several real-estate related issues. On the schedule for the audit committee at 9 a.m. is a discussion of an internal city audit that may show the city and county are owed money by the FedEx Forum because of its complicated ticketing fees. See today's story in The Daily News for more on this topic. For the complete meeting agenda, click the image.

MEMPHIS AREA

Church Meets in Memphis, Then Goes to St. Louis

MEMPHIS, Tenn. (AP) - The Memphis-based denomination Church of God in Christ begins its last Holy Week convocation in the city Monday – then prepares to move its 2010 meeting to St. Louis.

STATEWIDE

Supporters of Closing Gun Database Seek Records

NASHVILLE, Tenn. (AP) - Supporters of blocking public access to the names and addresses of Tennesseans with handgun carry permits appear to have a hard time keeping their hands off the records.

Dollar General Agrees to Stop Selling Sticky Traps

GOODLETTSVILLE, Tenn. (AP) - Dollar General stores will stop stocking sticky glue traps in the coming months.

Harvesters Race to Beat Rising River Flood Threats

MEMPHIS, Tenn. (AP) - Many West Tennessee farmers are in a race with rising water in the Mississippi River to harvest their crops.

NATIONAL BUSINESS

September Construction Spending Rises 0.8 Percent

WASHINGTON (AP) – Construction spending in September posted a better-than-expected performance, powered by the largest jump in housing construction in more than six years.

US Manufacturing Grows Most Since April ’06

NEW YORK (AP) – A private measure of U.S. manufacturing activity grew in October at the fastest pace in more than three years, helped by government spending and higher demand from overseas. The better-than-expected reading is a positive signal for the fledgling economic recovery.

Rule Would Boost Unions at Airlines, Railroads

WASHINGTON (AP) - Workers at U.S. airlines and railroads would have an easier time forming unions if the National Mediation Board succeeds in changing a 75-year-old rule on union organizing.

US: Full Recovery of Auto Investment Unlikely

WASHINGTON (AP) - Taxpayers are unlikely to recover their full investment in General Motors or Chrysler, government investigators said Monday in the latest review to cast doubts that the government will recoup the $80 billion it poured into the two automakers.

CIT Group's Biggest Hurdle: Keeping Customers

NEW YORK (AP) - A Chapter 11 filing usually means the end of the road for financial companies since they rely so heavily on customer trust. CIT Group Inc. is hoping that its case will be different.

NATIONAL POLITICS

High Court to Decide if Two-Person Labor Board Legal

WASHINGTON (AP) - The Supreme Court said Monday it will decide whether two people can do the work of five when it comes to resolving labor-management disputes in the workplace.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 110 188 14,031
MORTGAGES 126 219 16,224
FORECLOSURE NOTICES 12 17 2,219
BUILDING PERMITS 170 411 29,164
BANKRUPTCIES 57 116 9,042
BUSINESS LICENSES 23 52 4,753
UTILITY CONNECTIONS 29 66 5,599
MARRIAGE LICENSES 19 56 3,038

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