VOL. 123 | NO. 249 | Monday, December 22, 2008
Habitat for Humanity’s goal of launching its first entirely “green” neighborhood in Memphis has moved a step closer with a $263,060 infrastructure grant from the Plough Foundation.
Because of the severity of the foreclosure problem in Memphis and Shelby County, First Tennessee Bank recently decided to train employees in its call center on how to engage in crisis management.
WASHINGTON (AP) – Citing danger to the national economy, President Bush approved an emergency bailout of the U.S. auto industry Friday, offering $17.4 billion in rescue loans in exchange for tough concessions from the deeply troubled carmakers and their workers.
WASHINGTON (AP) – Treasury Secretary Henry Paulson said Friday that Congress will need to release the last half of the $700 billion rescue fund because the first $350 billion has been committed.
The old church pews inside Taylor Brown Apothecary provide a clue to the purpose behind the business.
NEW YORK (AP) - Retailers are accelerating their use of survival tactics – slashing prices further and pulling merchandise off shelves to send to liquidators – as the number of holiday shopping days dwindles. But January and beyond look scarier for even relatively healthy merchants as the passing of the holidays give shoppers no reason at all to spend.
PHOENIX (AP) - Economists believe that American consumers as a whole pocket a billion dollars every time the price for a gallon of gas drops by a penny. Given that retail gas prices have dropped by $2.44 per gallon since July, there should be a lot of money flowing back into the economy.
NEW YORK (AP) - A former Lehman Brothers broker who gleaned tips about pending mergers from his wife, a partner at a high-powered public relations firm, was charged Thursday in a wide-ranging insider trading scheme that earned $4.8 million in profits for several people including a former Playboy model and two lawyers, authorities said.
RICHMOND, Va. (AP) - Auto retailer CarMax Inc. said Friday it swung to a $21.9 million loss in the third quarter due to slumping sales and store traffic, and loan loss write-downs in its auto finance arm.
PHILADELPHIA (AP) - Sovereign Bank, the banking unit of Sovereign Bancorp Inc., said Friday it is cutting 1,000 jobs, or 8.3 percent of its work force, in an effort to reduce costs amid the economic downturn.
NASHVILLE, Tenn. (AP) - The Tennessee Urban Forestry Council is hoping a new state license plate honoring trees will help its effort to reduce carbon emissions.