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VOL. 123 | NO. 244 | Monday, December 15, 2008

Lee Lawsuit Against Council Ready To Be Filed

Will Seek $7 Million In Damages

Former Memphis Light, Gas and Water Division president and CEO Joseph Lee is set to file a lawsuit in Shelby County Chancery Court Tuesday against all 13 members of the Memphis City Council. He plans to ask for more than $7 million in damages.

RISE Brings Financial Literacy To Workplaces

In what could be viewed as one of the effects the economic slump is having on cash-strapped Memphians, a nonprofit group that teaches financial literacy classes is adding two teachers to its program.

MLGW Seeks To Require Rentals To Be Energy-Efficient

Low-income customers of Memphis Light, Gas and Water Division eventually could see some relief in the form of lower utility bills if an ordinance the Memphis City Council will discuss Tuesday is approved.

Driving Continues To Decline As Gas Prices Drop

WASHINGTON (AP) – Drivers clocked 9 billion fewer miles on the nation’s roads in October even while gas prices were dropping, suggesting a downturn in driving that began a year ago is attributable to more than just energy costs.

Retail Sales, Wholesale Prices Fall in Nov.

WASHINGTON (AP) – Consumers reduced their spending at retail stores again in November while the costs of goods before they reach store shelves also continued to drop, more bad signs in a recession that appears to be deepening.

Local Weather
Currently
Memphis, TN
55.0°F
A Few Clouds
Wind: Northwest at 5.8 mph
Humidity: 26%

EVENTS

The Engineers’ Club of Memphis Inc. will hold its weekly meeting and lunch today at 11:30 a.m. at the Holiday Inn–University of Memphis, 3700 Central Ave. Leighann Gipson, biologist for the U.S. Army Corps of Engineers, Memphis District, will present “The Lower Mississippi River Resource Assessment.” Cost is $14. No reservations are required.

more events »

Memphis Drum Shop Named ‘Independent Retailer of the Year’

The students mix with the masters at Memphis Drum Shop.

Defense Awaiting State Evidence in Alleged Plot

JACKSON, Tenn. (AP) - Defense lawyers say they haven't yet seen the government's evidence against two young white supremacists accused of plotting to kill President-elect Barack Obama.

Funding Board Projects Shortfall Could Exceed $1B

NASHVILLE, Tenn. (AP) - The state Funding Board has adopted revenue projections that assume the state's general fund budget shortfall could plummet more than $1 billion by the end of June.

GM to Temporarily Close 20 Plants to Slash Output

NEW YORK (AP) - General Motors Corp. said Friday it will temporarily close 20 factories across North America and make sweeping cuts to its vehicle production as it tries to adjust to dramatically weaker automobile demand.

Ex-Nasdaq Chairman Arrested on Fraud Charge in NYC

NEW YORK (AP) - A Wall Street powerbroker for nearly 50 years who built an influential firm has confessed to a massive fraud scheme that will cost investors at least $50 billion, federal authorities say.

White House Readies New Rescue for Auto Industry

WASHINGTON (AP) - With Congress gridlocked and the economy flailing, the Bush administration declared Friday it would step in and prevent the "precipitous collapse" of the U.S. auto industry and the disastrous economic impact of the hundreds of thousands of job losses sure to follow.

Solar Technology Company to Hold Events in Michigan, Tenn.

NASHVILLE, Tenn. (AP) - Solar technology company Hemlock Semiconductor has scheduled two events in Michigan and Tennessee on Monday to announce a multibillion dollar investment.

Pending Hope

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 61 331 19,904
MORTGAGES 80 391 23,305
FORECLOSURE NOTICES 0 83 8,387
BUILDING PERMITS 0 338 40,366
BANKRUPTCIES 35 231 13,335
BUSINESS LICENSES 28 76 6,213
UTILITY CONNECTIONS 0 125 13,120
MARRIAGE LICENSES 21 94 4,936

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