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VOL. 123 | NO. 239 | Monday, December 8, 2008

Memphis Broadcaster Fred Cook Dies

Cook was best known for a 50-year career in Memphis radio, mainly at WREC-AM. He was also the first newscaster at WREG TV when Channel 3 went on the air in the 1950s.

Fewer Permits Hint at Building Correction

Shelby County’s homebuilders are doing what they can to reduce inventory, as their sales have outpaced starts for the fifth quarter in a row, a key indicator for housing recovery.

Trust One to Cut 11 Jobs in Memphis

Trust One Bank, a subsidiary of Georgia-based Synovus Financial Corp., will begin a round of job cuts starting Jan. 2 and ending Oct. 2.

Losch Readies For CFO Role At First Horizon

William “BJ” Losch will become the newest addition to the top ranks of Memphis-based First Horizon National Corp. next month when he takes over the executive role formerly held by current FHN president and CEO Bryan Jordan.

Lenny’s Founder’s Death Apparent Suicide, Police Say

Funeral services for Len Moore, the man who started a sandwich shop in Bartlett that grew into the Lenny’s Sub Shop national franchise, were held Friday in Woodlands, Texas.

Local Weather
Memphis, TN
A Few Clouds
Wind: South at 4.6 mph
Humidity: 90%


BlueCross Medicare Advocates will hold a community meeting today at 10 a.m. at the Courtyard by Marriott, 7750 Wolf River Bend. The meeting is designed to provide more information about the new Medicare options. For more information about the meeting, call BlueCross BlueShield of Tennessee at 1-800-561-4331.

more events »

FedEx to Pay $26.8M in Calif. Contractor Settlement

NEW YORK (AP) - FedEx Corp. said Friday it will pay $26.8 million to settle a case in its ongoing battle over whether its Ground unit workers are illegally classified as independent contractors instead of employees.

Some Bailout Holdings Down $9 Billion

WASHINGTON (AP) – Stock intended to eventually earn taxpayers a profit as part of the Bush administration’s massive bank bailout has lost a third of its value – about $9 billion – in barely one month, according to an Associated Press analysis. Shares in virtually every bank that received federal money have remained below the prices the government negotiated.

Employers Cut 533K Jobs in November

WASHINGTON (AP) – Skittish employers slashed 533,000 jobs in November, the most in 34 years, catapulting the unemployment rate to 6.7 percent, dramatic proof the country is careening deeper into recession.

Roulhac Mansion Makes Visitors Feel at Home

Every room at the Roulhac Mansion was booked over the weekend with marathon runners who wanted to experience the real Memphis instead of stay in a hotel room.

Merrill, BofA Shareholders Approve Combination

CHARLOTTE, N.C. (AP) - Shareholders of Merrill Lynch & Co. and Bank of America Corp. on Friday approved the investment bank's sale to Bank of America, in a move that will create the nation's largest financial-services firm.

Brown-Forman Reports 11 Pct Rise in Q2 Earnings

LOUISVILLE, Ky. (AP) - Showing strength in a weak economy, Brown-Forman Corp. said Friday its second-quarter profit rose 11 percent on gains by its Jack Daniel's Tennessee Whiskey and Finlandia vodka brands.

Bush, Hill Leaders: Job Losses Argue for Auto Help

WASHINGTON (AP) - President George W. Bush and congressional leaders seized on the latest grim unemployment data Friday to try to fire up lukewarm support on Capitol Hill for bailing out U.S. automakers. But they clashed anew over terms of the rescue plan and the source of any aid.

Plummeting Activity

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PROPERTY SALES 80 401 13,843
MORTGAGES 99 439 16,005
BUILDING PERMITS 233 998 28,755
BANKRUPTCIES 49 276 8,926

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