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VOL. 123 | NO. 249 | Monday, December 22, 2008

Green Neighborhood Closer to Reality

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.

Task Force Explores Ideas to Battle Foreclosure Crisis

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.

Bailout Approved: Automakers Get $17.4B

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.

Paulson: Congress Should Release More Funds

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.

Taylor Brown Apothecary Serves Downtown Community

The old church pews inside Taylor Brown Apothecary provide a clue to the purpose behind the business.

Local Weather
Currently
Memphis, TN
59.0°F
Overcast
Wind: North at 10.4 mph
Humidity: 96%

EVENTS

The Shelby County Board of Commissioners Ad Hoc Committee on Homeland Security, Disaster Preparedness and 911 Communications Center will meet today at 12:30 p.m. in the fourth floor committee room of the Shelby County Administration Building, 160 N. Main St. The full Board of Commissioners will meet in the lobby chambers at 1:30 p.m. For more information, call Steve Summerall at 545-4301.

more events »

Stores Using Survival Tactics, Look Past Holidays

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.

Falling Energy Prices Yet to Show Economic Return

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.

Lehman Broker Charged in Insider Trading Case

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.

CarMax Swings to Q3 Loss as Sales Fall

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.

Sovereign Bancorp Cutting 1,000 Jobs Amid Downturn

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.

New License Plate to Honor Trees

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.

On The 12th Day Of Christmas

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 92 345 2,680
MORTGAGES 74 340 3,234
FORECLOSURE NOTICES 18 63 540
BUILDING PERMITS 188 810 5,813
BANKRUPTCIES 41 234 2,013
BUSINESS LICENSES 25 116 1,012
UTILITY CONNECTIONS 33 129 1,141
MARRIAGE LICENSES 14 66 409

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