VOL. 123 | NO. 241 | Wednesday, December 10, 2008
Herenton declines comment for now
Memphis Mayor Willie Herenton already has promised no tax increase will be forthcoming next year, a pledge he made to Memphis City Council members during a mayor-council retreat last month at the University of Memphis.
A man arrested in an Airport area motel room Dec. 1 was indicted today by a federal grand jury on three counts of identity theft.
A four month long undercover drug investigation at an Airport area strip club surfaced Tuesday when Pure Passion, 1849 East Brooks Road, was closed as a nuisance under state law.
A new study by a Federal Reserve economist indicates the common belief that crime increases with recessions may not hold true.
NBC affiliate WMC-TV laid off about 10 percent of its employees Tuesday, general manager Lee Meredith told The Daily News.
The economic slowdown is taking its toll on Memphis businesses in the form of layoffs and store closures, sagging real estate values and rising foreclosures. But the logistics and distribution industries are weathering the storm as well as any sector – for now, at least.
To many Memphians, Fred Cook’s voice was rich and full, and he spoke with authority.
A landmark court case over who bears the ultimate funding responsibility for Memphis City Schools will move toward its conclusion in February.
ATLANTA (AP) – The pilot seniority lists at Delta Air Lines and Northwest Airlines will be integrated based on pilots’ status and aircraft category, though pilots from one carrier will not be able to fly for a period of time certain planes the other carrier brought to the combination, an arbitration panel ruled.
ATLANTA (AP) – SunTrust Banks Inc. reported Tuesday it has received preliminary approval for an additional $1.4 billion from the U.S. Treasury Department for a total capital investment of $4.9 billion – the full amount for which the regional bank was eligible.
WASHINGTON (AP) – Top executives at mortgage finance companies Fannie Mae and Freddie Mac ignored warnings that they were taking on too many risky loans years before the housing market plunged, according to documents released Tuesday by a House committee.
Kirk Caraway of Allen, Summers, Simpson, Lillie & Gresham PLLC has been selected as a “Rising Star” in the field of Labor and Employment Litigation by Law & Politics Midsouth Superlawyers publication for 2008.
CHATTANOOGA, Tenn. (AP) - Tennessee Republican Chairman Robin Smith is looking for GOP majorities in the state Legislature to get bigger when new districts are drawn after the census in 2010.
CINCINNATI (AP) - Hurricane Ike battered Kroger Co.'s third-quarter profits, and the grocery chain offered a cautious forecast Tuesday amid the churning U.S. economic storm.
KNOXVILLE, Tenn. (AP) - The University of Tennessee is bracing for up to $75 million in state funding cuts.
WASHINGTON (AP) - A convicted killer on death row since 1984 could be spared execution following arguments Tuesday at the Supreme Court.
ATLANTA (AP) - Delta Air Lines Inc., the world's biggest carrier, said Tuesday it is getting a $1 billion boost following a credit card agreement it has reached with American Express Co. A company executive also said Delta expects to turn a profit in 2009.
MINNEAPOLIS (AP) - Wal-Mart Stores Inc. said Tuesday it will pay up to $54.25 million to settle a class-action lawsuit that alleged the discount giant cut workers' break time and didn't prevent employees from working off the clock in Minnesota.
DES MOINES, Iowa (AP) - Insurance, banking, retirement and asset manager Principal Financial Group Inc. said Tuesday it is cutting 550 jobs, about 3.5 percent of its work force.