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VOL. 125 | NO. 245 | Friday, December 17, 2010

Profit Down, Revenue Up at FedEx

FedEx Corp., the world’s second-largest package delivery company, said its profit fell 18 percent during the Memphis-based shipper’s fiscal second quarter.

Downtime Digs

MED’s new center gives docs a place to rest, teach

The Regional Medical Center at Memphis has a new center that will provide sleeping quarters and conference space for the surgeons who staff The Elvis Presley Memorial Trauma Center.

EMHC Moving to Appling Farms, Doubling in Size

Emergency Mobile Health Care is more than doubling the size of its Memphis corporate headquarters.

IDB Approves Dalphis Move to Airport Area

The same day local leaders celebrated the coming move of Electrolux to the Frank C. Pidgeon Industrial Park, members of the Memphis-Shelby County Industrial Development Board were reminded that there remains intense competition for jobs already in Memphis.

MSCAA Approves $200M Bond Refund

The Memphis-Shelby County Airport Authority made important strides toward gaining the benefits of low interest rates Thursday when the board of commissioners approved a maximum $200 million bond refund.

Local Weather
Currently
Memphis, TN
47.0°F
Overcast
Wind: Southwest at 3.5 mph
Humidity: 97%

EVENTS

The Memphis Gavel Club will meet Friday at 11:30 a.m. at the Holiday Inn University of Memphis, 3700 Central Ave. The meeting will include lunch and entertainment by Quicksilver Barber Shop Quartet. For more information, call Bob Gray at 494-8639.

more events »

Consolidation Lawsuit Fight Moves to Rhetorical Battlefront

The votes have been counted for six weeks in the twin votes on consolidation.

Evans Denies CVS, Church Injunction

Chancellor Walter Evans denied a motion Thursday that would have stopped work on Union Avenue United Methodist Church as the site of a new CVS drug store.

MPACT Chair Charged With Stopping ‘Brain Drain’

As the new board chair for MPACT Memphis, Audra Bares is at the helm of a big initiative – one in which she has a vested interest.

Dear Santa

Dear Santa, Please consider my gift list for our local elected officials. After all, they’ve been giving it to us all year.

Your Gift Makes a Difference

Sometimes we wonder, “Does my gift make a difference?” Whether it is a gift of $25 or $25,000, we don’t always know if our gift “matters.”

STATEWIDE

First Horizon Prices $500M Notes Offering

MEMPHIS (AP) – First Horizon National Corp. on Thursday priced a public offering of $500 million in 5.375 percent senior notes due 2015.

Officials Uncertain About Final Revenue Estimates

NASHVILLE (AP) – State officials say they're uncertain when final revenue projections for Tennessee will be released.

Tenn. Unemployment Rate Unchanged at 9.4 Percent

NASHVILLE (AP) — Tennessee's unemployment rate for November was 9.4 percent, unchanged from the October and September.

O'Charley's CFO and Treasurer Hyatt Resigning

NASHVILLE (AP) – O'Charley's Inc. says its chief financial officer and treasurer, Lawrence E. Hyatt, is resigning at the end of the fiscal year.

Registered Organ Donors Reach 1.5 Million in State

NASHVILLE (AP) – The number of registered organ and tissue donors in Tennessee has reached 1.5 million.

REAL ESTATE

Number of Homes Taken Back by Lenders Tumbles

LOS ANGELES (AP) — The number of U.S. homes taken back by lenders dropped to the lowest level in 18 months in November, the result of foreclosure freezes enacted by several banks following allegations that evictions were handled improperly.

Home Construction Up After 2 Months of Declines

WASHINGTON (AP) – Home construction nudged up in November after two months of declines.

NATIONAL BUSINESS

Fewer Jobless Claims Cap Strong Week for Economy

WASHINGTON (AP) – A further decline in the number of people applying for unemployment benefits capped a strong week for the economy.

Nucor Expects 4Q Loss of 10 to 15 Cents per Share

CHARLOTTE, N.C. (AP) — Steel maker Nucor Corp. expects to lose money in the fourth quarter as material costs rose and demand from construction markets remained weak.

FYI: Online Retailers Offer Free Shipping Friday

Online gift-buying carries an extra incentive on Friday: free shipping.

NATIONAL POLITICS

20 States Ask Judge to Throw Out Obama Health Law

PENSACOLA, Fla. (AP) – Attorneys for 20 states fighting the new federal health care law told a judge Thursday it will expand the government's powers in dangerous and unintended ways.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 393 21,159
MORTGAGES 94 424 24,785
FORECLOSURE NOTICES 0 93 8,703
BUILDING PERMITS 173 1,010 43,347
BANKRUPTCIES 52 292 14,194
BUSINESS LICENSES 15 90 6,491
UTILITY CONNECTIONS 28 167 13,678
MARRIAGE LICENSES 12 89 5,158

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