VOL. 124 | NO. 33 | Wednesday, February 18, 2009
Chair of Stanford Financial Group charged with $8B fraud
The U.S. Securities and Exchange Commission has charged a Texas billionaire whose family of companies has deep ties to Memphis with an $8 billion securities fraud.
Shelby County Chancellor Kenny Armstrong has ordered the city of Memphis to restore more than $57.5 million in funding to the Memphis school system.
Thomas W. Farris Sr. permanently surrendered his license as an appraiser last month after a state investigation determined he engaged in “fraudulent conduct.”
Memphis Mayor Willie Herenton and fairgrounds developer Henry Turley met for about an hour in Herenton’s office Tuesday about the uncertain future of the project.
Norfolk Southern Corp. has officially ruled out Frank C. Pidgeon Industrial Park south of Downtown Memphis for its planned intermodal yard because of logistical reasons, the company confirmed Tuesday.
MADISON, Wis. (AP) – Patients cannot sue the makers of potentially unsafe medical devices approved for sale by federal regulators, the Wisconsin Supreme Court ruled Tuesday.
GTx will hire up to 65 pharmaceutical salespeople this year once the company hears back from the U.S. Food and Drug Administration about a regulatory review of toremifene for the prevention of bone fractures in men with prostate cancer who are on androgen deprivation therapy.
Bill Duncan has been appointed senior vice president of brand management for Homewood Suites by Hilton and the newly launched Home2 Suites by Hilton.
NASHVILLE, Tenn. (AP) - Tennessee wants to quickly contract out all of its $572 million in federal transportation stimulus money, but some state lawmakers are raising concerns that their districts aren't in line for enough road and bridge projects.
NEW YORK (AP) - Wal-Mart Stores Inc. said it's still pulling shoppers away from its main rivals and enjoying a rise in customer traffic as the world's largest retailer released better-than-expected fourth-quarter earnings Tuesday.
WASHINGTON (AP) - The 20 largest banks that received government rescue funds slightly reduced their lending to consumers and businesses in the last three months of 2008, the government said Tuesday.
NASHVILLE, Tenn. (AP) - State House Speaker Kent Williams has returned to the Legislature after missing part of last week to attend to his hospitalized mother.
CHATTANOOGA, Tenn. (AP) - A top Nissan North America executive says the company's new, all-electric car to be sold starting late next year will have 100 miles of pure battery range.
ZEPHYRHILLS, Fla. (AP) - Kathy Lovelace lost her job and was about to lose her house, too. But then she made a seemingly simple request of the bank: Show me the original mortgage paperwork.
NEW YORK (AP) - Liberty Media Corp. will invest $530 million in Sirius XM Radio Inc., fending off a likely bankruptcy for the satellite radio company and blocking a bid by a rival, Dish Network Corp. CEO Charlie Ergen, to take control of Sirius.
ST. PAUL, Minn. (AP) - U.S. Sen. Amy Klobuchar is calling for the criminal prosecution of the owner of the peanut-processing company at the center of the national salmonella outbreak that's sickened more than 600 people and been linked to nine deaths.