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VOL. 123 | NO. 254 | Tuesday, December 30, 2008

Bus Company Sues School Board for $4.5M

A local bus company that for many years provided specialized transportation services for Memphis City Schools has filed a $4.5 million lawsuit against the board of education after the school district ended its contract with the company earlier this year.

Former FedEx HQ Recast as Aerotropolis

The building that served as FedEx Corp.’s initial corporate headquarters is at the center of a rebranding campaign designed to tap into the city’s growing aerotropolis concept.

Methodist Hospitals Pull Churches Into Health Initiative

The Rev. Gary R. Gunderson saw an opportunity in Memphis to show that people can have healthier lives when churches and hospitals work together.

Citing Economy, FedEx Delays Opening of New Hub

GREENSBORO, N.C. (AP)FedEx Corp. reported Friday its new hub at Piedmont Triad International Airport won’t open until next fall and will start operations with fewer workers than initially projected as the company keeps cautious amid a tumultuous economy.

State Shuts Public Law Libraries

CLEVELAND, Tenn. (AP) – The Tennessee Supreme Court will close its public law libraries Jan. 1 to reduce the costs of storage and updating books.

Local Weather
Currently
Memphis, TN
47.0°F
Overcast
Wind: Southeast at 5.8 mph
Humidity: 52%

EVENTS

The Desoto Athletic Club will host the first DAC New Year’s Eve 10K race Wednesday at DAC’s Collierville location, 440 W. Powell Road. Registration is available from 7 a.m. to 7:45 a.m. The race will benefit the Page Robbins Adult Day Care Center. Members and nonmembers are eligible to participate. To register, visit www.racesonline.com.

more events »

Lehman’s Chaotic Bankruptcy Destroyed Billions

As much as $75 billion of Lehman Brothers Holdings Inc. value was destroyed by the unplanned and chaotic form of the firm’s bankruptcy filing in September, according to an internal analysis by the company’s restructuring advisers.

100 South Main Partners Secure Project Financing

100 S. Main St., Memphis, TN 38103, Loan Amount: $9.5 Million -
The entity 100 South Main Partners, a partnership between Henry Turley and Greenhat Partners LLC, has secured financing with a $9.5 million loan for Barboro Alley Flats, a five-story mixed-use residential and commercial building. Turley signed the trust deed as managing partner of 100 South Main Partners.

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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.