VOL. 123 | NO. 247 | Thursday, December 18, 2008
Salaries of Fred Smith and top execs cut even more
NEW YORK (AP) — FedEx will cut salaries 5 percent for all U.S. salaried personnel as a result of the weak economy, as well as make even deeper pay cuts for senior executives, eliminate some bonuses and implement a one-year freeze in contributions to 401(k) private retirement accounts.
Wharton Unveils College Gap Fund
The system of tax breaks local government offers businesses looking to relocate can’t compete with DeSoto County and other neighboring counties, according to a review by the Greater Memphis Chamber of Commerce and Shelby County economic development officials.
Thompson was sentenced by U.S. District Judge Jon P. McCalla on one count of mail fraud.
The same day this week that each member of the Memphis City Council was served notice they are being sued by former Memphis Light, Gas and Water Division president and CEO Joseph Lee, council members were not yet certain how they would respond.
Small boutique law firms and solo practices may be struggling in some ways during these economic times, but in general, most are weathering the economic storm, observers say.
In a month’s time, the debate about how to hire more Memphis police officers seems to bear out staying at least within Shelby County.
Harrah’s Entertainment has named a new regional president to supervise management of casinos in Mississippi and North Carolina.
U.S. Rep. Steve Cohen, D-Memphis, told the Memphis Rotary Club this week he was never asked to leave the White House. And he did find the Memphis ornament by local artist Carol DeForest on one of the White House Christmas trees before a run-in with an usher.
ATLANTIC CITY, N.J. (AP) – Juan Jimenez’s job at the casino wasn’t the most glamorous one in the place.
Kirk Caraway, a partner at Allen, Summers, Simpson, Lillie & Gresham PLLC, earlier this month received the Memphis Bar Association’s Sam A. Myar Jr. Award. He also recently was selected as a “Rising Star” in the field of labor and employment litigation by Law & Politics Mid-South SuperLawyers 2008. This award is limited to attorneys 40 years old and younger.
NASHVILLE, Tenn. (AP) - Tennessee officials hope a policy dealing with people who make frequent and multiple requests for public records will help custodians who handle such inquiries.
TEXARKANA, Ark. (AP) - With tax incentives and worker concessions, four cities in four states vied to keep their Cooper Tire & Rubber Co. plant open after the Ohio-based company said the weakening economy would cause it to shutter one of its U.S. plants.
WASHINGTON (AP) - The Federation of American Hospitals, which represents for-profit hospital chains, spent $740,000 lobbying the federal government in the third quarter, according to a recent disclosure form.
LONDON (AP) - British drug maker GlaxoSmithKline PLC said Wednesday it will pay U.S. biotechnology company Dynavax Technologies Corp. $10 million upfront in a research deal to develop drugs to treat autoimmune and inflammatory diseases.
WASHINGTON (AP) - Consumers trying to buy a house or finance a car loan could be the big winners as a result of the Federal Reserve's decision to slash its target interest rate to nearly zero and take other steps to battle the financial crisis and worsening recession.
ORAN, Algeria (AP) - OPEC on Wednesday agreed to slash 2.2 million barrels from its daily production – its single largest cut ever – while bloc outsiders Russia and Azerbaijan announced their own cutbacks of hundreds of thousands of barrels from the market.
REDMOND, Wash. (AP) - Microsoft Corp. is taking the unusual step of issuing an emergency fix for a security hole in its Internet Explorer software that has exposed millions of users to having their computers taken over by hackers.
WASHINGTON (AP) - U.S. oil consumption is expected to level off with virtually no growth between now and 2030 because of increases in energy efficiency, greater use of renewable fuels and an expected rebound in oil prices, the government said Wednesday.