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VOL. 124 | NO. 248 | Friday, December 18, 2009

Sanford Leaving Downtown Group After 12 Years

After 12 years with the organization, Jeff Sanford is stepping down from his position as president of the Center City Commission, the group that encourages and supports Downtown development. His resignation will be effective July 1.

Lending Biz At a Standstill

Rick Wood, senior vice president for Financial Federal Savings Bank, recently gave a speech about the drastic decline in institutional lending for commercial real estate loans.

Commercial Real Estate Hits Doldrums

When it comes to trends, commercial real estate usually lags residential real estate, sometimes by as much as a year. So with the housing market showing its first signs of improvement during the last month or so, the commercial sector needs to prepare itself for a long, bumpy road to recovery.

Aiken’s Love of Profession Radiates in Commercial Realty Work

Wyatt Aiken launched his commercial real estate career in 1983, the same year he graduated from Tulane University with an MBA. As the New Orleans native first looked for jobs, he interviewed in a handful of Southeastern U.S. cities, but never considered Memphis.

Wharton Considers City Division Cuts To Aid MCS

There probably will be fewer divisions in city government sometime early next year.

Local Weather
Memphis, TN
A Few Clouds
Wind: South at 13.8 mph
Humidity: 64%


The Memphis Gavel Club Christmas Luncheon will be held today from 11:30 a.m. to 1 p.m. at the Holiday Inn-University of Memphis, 3700 Central Ave. For more information, call 683-6802.

more events »

Tax Break Allows Smith & Nephew Expansion

Tax break in hand, Smith & Nephew can move forward with a $42 million investment to convert an office complex formerly occupied by a casino company into a centralized hub for research, marketing and medical education.

Washington Firm Chosen to Fight Foreclosure Courtroom Battle

Memphis and Shelby County governments have reloaded in preparation for a high-profile court battle over the area’s foreclosures and the lending practices that accompany them.

MED Committee Picks Coopwood for CEO

The executive search committee for the Regional Medical Center at Memphis unanimously voted Thursday to recommend Dr. Reginald Coopwood to be the chief executive officer for the financially struggling public hospital.

Flintco Picked for $89.5M Airport Project

The Memphis-Shelby County Airport Authority on Thursday awarded The Flintco Cos. Inc. an $89.5 million contract to build a state-of-the-art ground transportation facility at Memphis International Airport.


FedEx Issues Cautious Q3 Forecast

NEW YORK (AP) – FedEx offered a tepid outlook Thursday for the quarter that ends in February, after reporting fiscal second-quarter results fell 30 percent from a year ago.

AutoZone Board Authorizes $500M Stock Buybacks

MEMPHIS, Tenn. (AP) - AutoZone Inc., which sells car and truck parts and accessories, said Wednesday its board approved an additional $500 million in share buybacks as part of its ongoing repurchase program.


Tenn. November Unemployment Rate Drops Slightly

NASHVILLE, Tenn. (AP) - The Tennessee Department of Labor and Workforce Development reports the state's unemployment rate dropped to 10.3 percent in November.

Funding Board Delays Tenn. Revenue Estimates

NASHVILLE, Tenn. (AP) - The State Funding Board has delayed setting the revenue projections that the governor and lawmakers use to prepare Tennessee's annual spending plan.


Leading Indicators Rise for 8th Straight Month

NEW YORK (AP) - A forecast of U.S. economic activity rose for the eighth straight month in November, a private research group said, signaling the economic rebound will continue next year.

Brian Moynihan to Succeed Ken Lewis as BofA CEO

CHARLOTTE, North Carolina (AP) - Bank of America's new CEO says he doesn't expect to lead a major shift in strategy at America's largest bank when he takes over from Ken Lewis on Jan. 1. But with loan losses continuing to mount amid double-digit unemployment rates, it remains to be seen whether investors will embrace staying the course.


Citi to Suspend Foreclosures for 30 Days

WASHINGTON (AP) - Citigroup Inc. will suspend foreclosures and evictions for 30 days in a temporary break for about 4,000 borrowers during the holiday season.


Senate Panel Clears Bernanke Nomination

WASHINGTON (AP) - A Senate panel on Thursday approved the nomination of Federal Reserve Chairman Ben Bernanke to run the nation's central bank for another four years.

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