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VOL. 124 | NO. 238 | Friday, December 4, 2009

Sale of Luminetx Proposed as Company Flounders

Luminetx Corp. is operating in the red and may soon run out of money unless its shareholders agree to sell the company to Christie Digital Systems Inc.

Luminetx to Be Acquired by Christie Digital Systems

Luminetx Corp. announced Thursday that its board of directors has entered into an agreement to be acquired by Christie Digital Systems Inc., which has already loaned money to the Memphis-based company.

Little Ready to Join Wharton Team

George Little has a towering physique and a booming voice. He speaks slowly, intently and with an almost steely gaze.

Mid South Reads, Literacy Council Soon to Merge

The partnership between Mid South Reads and the Memphis Literacy Council is about to be a marriage.

International Growth Gives Classic American Hardwoods Advantage

Classic American Hardwoods Inc. President Bill Courtney said he runs his business according to an old adage: “When they’re yelling, be selling. When they’re crying, be buying.”

Local Weather
Currently
Memphis, TN
75.0°F
Overcast
Wind: South at 10.4 mph
Humidity: 46%

EVENTS

The University of Tennessee Health Science Center will hold a seminar today from 8 a.m. to 4 p.m. at the UTHSC, 800 Madison Ave. The seminar will discuss HIV/AIDS in the Mid-South. For more information, call 218-5511.

more events »

Memphian Williams Has Economic Front-Row Seat From FINRA Board

When Memphian Duncan Williams joined the board of the Financial Industry Regulatory Authority in 2007, his colleagues included representatives of powerhouse firms with familiar names.

STATE LEGISLATURE

Democrat Ward Cammack Drops Out of Governor's Race

NASHVILLE, Tenn. (AP) - Nashville businessman Ward Cammack on Thursday became the second Democrat to drop out of the governor's race this week.

STATEWIDE

VW: Construction of Plant 'Absolutely on Track'

CHATTANOOGA, Tenn. (AP) - Volkswagen officials say construction of the new assembly plant in Chattanooga is on schedule and more than 1,000 employees are expected to be onsite early next year.

REGIONAL

Barbour Cuts Nearly $54.3 M from Miss. Budget

JACKSON, Miss. (AP) - Mississippi Gov. Haley Barbour says he is cutting almost $54.3 million from Mississippi's nearly $6 billion budget.

Ark. Judge Criticizes Beebe for Court Appointments

LITTLE ROCK, Ark. (AP) - A former state appeals court judge said Thursday that Gov. Mike Beebe should fill at least one of two recent vacancies on the state Supreme Court with a black candidate, and that the all-white court makes it appear Arkansas is racially segregated.

NATIONAL BUSINESS

Service Sector Activity, Retail Sales Disappoint

NEW YORK (AP) – Further evidence that the economic recovery will be a slow and bumpy one emerged Thursday with reports service sector activity and retail sales unexpectedly shrank in November as consumers held back on purchases.

Wal-Mart to Pay $40M to Workers in Mass.

BOSTON (AP) - Wal-Mart Stores Inc. has agreed to pay $40 million to 87,500 Massachusetts employees who claimed the retailer denied them rest and meals breaks, manipulated time cards and refused to pay overtime, according to court documents filed Wednesday.

American, Partners Offer $1.1B to Japan Airlines

TOKYO (AP) - American Airlines upped the ante in the tug-of-war over Japan Airlines, vowing Thursday to lead a $1.1 billion investment in the struggling carrier to prevent it from falling into the orbit of rival Delta.

Bernanke Claims Tools, Will to Reel in Stimulus

WASHINGTON (AP) - Making a case for a second term as head of the Federal Reserve, Ben Bernanke said Thursday that he has the tools and the political backbone necessary to reel in massive economic support once the recovery is firmly rooted.

Obama Open to Every Good Idea to Stop Job Losses

WASHINGTON (AP) - President Barack Obama kicked off a White House jobs forum on Thursday by saying he's "open to every demonstrably good idea" to reverse the worst job losses in decades. But Obama said the government's resources are limited and that growth ultimately must come from the private sector.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 31 327 17,870
MORTGAGES 49 409 20,835
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 129 800 36,616
BANKRUPTCIES 51 243 11,925
BUSINESS LICENSES 21 117 5,677
UTILITY CONNECTIONS 41 215 12,248
MARRIAGE LICENSES 29 121 4,478

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