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VOL. 123 | NO. 242 | Thursday, December 11, 2008

Wright Medical Leaders Give Optimistic Outlook

Top executives at Arlington-based Wright Medical Group expect the company to stay on track with double-digit revenue growth for the next two years despite a national recession and global economic downturn.

Former Memphian: RNC Bid a ‘Return to Party Values’

He did it as he stood Monday morning in Nashville flanked by Tennessee Lieutenant Gov. Ron Ramsey and former U.S. Sen. Bill Frist. He let it show in a recent letter he sent to the members of the Republican National Committee.

Airport Motel Room Search Leads To Identity Theft Charges

A man arrested in an Airport area motel room Dec. 1 was indicted Wednesday by a federal grand jury on three counts of identity theft.

Tennessee Supreme Court Backs Access to Justice Campaign

The Tennessee Supreme Court has formally announced its support of the Tennessee Bar Association’s multifaceted Access to Justice, or “4ALL,” campaign, spearheaded by TBA president George “Buck” Lewis, a shareholder at the Memphis office of Baker, Donelson, Bearman, Caldwell & Berkowitz PC.

Single Source School Funding Idea Moves Forward

An ad hoc committee on local education funding is moving toward a vote on one of four plans for some measure of one-source funding for Memphis City and Shelby County public schools.

Local Weather
Currently
Memphis, TN
73.0°F
Light Rain
Wind: Calm mph
Humidity: 94%

EVENTS

The Memphis Regional Chamber will hold its annual chairman’s luncheon today from 11:30 a.m. to 1:30 p.m. in the Grand Ballroom of The Peabody hotel, 149 Union Ave. Tom Schmitt, chairman of the Memphis Regional Chamber and president and CEO of FedEx Global Supply Chain, will be the keynote speaker. Special features will include speaker University of Memphis basketball coach John Calipari, a tribute to Isaac Hayes and live musical performances. Cost is $125 for members and $150 for prospective members. For reservations, contact Tunga Lee at 543-3571 or tlee@memphischamber.com.

more events »

Oversight Panel Questions Treasury On Bailout Plan

WASHINGTON (AP) – A congressional panel reviewing the government’s $700 billion rescue of the financial sector questioned how the money is being spent and whether it’s helping homeowners avoid foreclosure.

Office Depot Closing 112 Stores, Cutting 2,200 Jobs

CHICAGO (AP) - Office Depot Inc. will close about 9 percent of its North American stores and cut 2,200 jobs over the next three months while planning to open fewer locations next year in an effort to cut costs.

Summers Addresses Impact of Economy on Construction

Jim Summers, a founding partner at Allen, Summers, Simpson, Lillie & Gresham PLLC, has been selected for inclusion in the 2009 edition of “The Best Lawyers of America” and in the 2008 Law and Politics Mid-South SuperLawyers in the field of construction litigation.

New Bridge Across Mississippi River Could be Built

BLYTHEVILLE, Ark. (AP) - A roughly 20-mile toll road between Northeast Arkansas and Northwest Tennessee, including a bridge spanning the Mississippi River, could be built and shave more than 20 minutes off a trip to nearby Memphis, Tenn., engineers say.

Wholesale Inventories, Sales Plunge in October

WASHINGTON (AP) - Wholesalers cut back on their inventories in October by the largest amount since the period following the 2001 terrorist attacks while they watched their sales plunge by a record amount.

Federal Deficit Totals $164.4B in November

WASHINGTON (AP) - The federal government registered a record budget deficit for the month of November, reflecting the impact of a recession on tax receipts and the mounting costs of the $700 billion financial rescue program.

GMAC Extends Deadline for Tender Offers

NEW YORK (AP) - GMAC Financial Services, the financing arm of General Motors, said Wednesday that its bid to become a bank holding company and qualify for aid under the government's $700 billion bank rescue plan may be in danger because it hasn't raised the capital needed to meet federal requirements.

Inaction on Big 3 Would Cost Taxpayers Billions

WASHINGTON (AP) - The U.S. auto industry's problems will cost taxpayers plenty whether or not the government helps Detroit.

Univ. of Tenn. Prepares for $75M Budget Cut

KNOXVILLE, Tenn. (AP) - The University of Tennessee imposed a hiring freeze, a moratorium on new academic programs and a stop work order on building renovations Tuesday as the school anticipated demands for up to $75 million in state funding cuts.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 322 8,071
MORTGAGES 93 381 9,580
FORECLOSURE NOTICES 31 81 1,439
BUILDING PERMITS 236 688 17,295
BANKRUPTCIES 52 207 5,613
BUSINESS LICENSES 35 143 3,091
UTILITY CONNECTIONS 28 128 3,378
MARRIAGE LICENSES 27 120 1,808

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