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VOL. 124 | NO. 37 | Tuesday, February 24, 2009

Scope of Stanford Scandal Vast, Deep

When the U.S. Securities and Exchange Commission filed a complaint in federal court last week accusing Stanford Financial Group of defrauding billions from investors, the case was assigned to U.S. District Judge Sam Lindsay.

Kuhn Appointed To County Commission

Former Shelby County Democratic party chairman Matt Kuhn is the newest member of the Shelby County Board of Commissioners.

Red Flags Abounded During SEC Probe Of Stanford Cos.

WASHINGTON (AP) – As with the Bernard Madoff case, the scandal surrounding billionaire R. Allen Stanford now seems clear and obvious in hindsight. Yet Stanford managed to run his alleged scheme even while the U.S. Securities and Exchange Commission and other regulators investigated his businesses.

State Approves Bartlett Hospital Expansion

The board for the Tennessee Health Services and Development Agency voted unanimously at its last meeting to allow Saint Francis Hospital-Bartlett to go forward with a $45.4 million expansion.

Stimulus Bill Expected to Feed ‘Green’ Industry

The greenest home is the one that is already built, meaning any structure that doesn’t require an abundance of new materials and energy to construct is more eco-friendly than a house that does.

Local Weather
Currently
Memphis, TN
81.0°F
Partly Cloudy
Wind: Southwest at 6.9 mph
Humidity: 88%

EVENTS

Westminster Academy will host a mini-open house for parents of prospective students today from 10 a.m. to 11 a.m. at its campus, 2500 Ridgeway Road. Parents will have the opportunity to tour the campus and learn about Westminster’s educational opportunities. Westminster offers classical Christian education for kindergarten through 12th grade. For more information, call 380-9192 or visit www.wamemphis.com.

more events »

Diocese Settles With Man Abused as Teen

The Catholic Diocese of Memphis has come to a legal settlement with a man sexually abused as a teenager nine years ago by a Dominican priest.

French’s Bankruptcy Follows Steep Revenue Drop

The president of a technology firm who is a close political ally of Memphis Mayor Willie Herenton and whose company has performed contract work for the city of Memphis for several years has filed for Chapter 11 bankruptcy protection.

Goddard School Planned For Winchester Road in Collierville

2.5 Acres, Collierville, TN 38017, Loan Amount: $1.3 Million -
R.S. Harris LLC has filed a $1.3 million construction loan through First Citizens National Bank for a two-and-a-half acre lot along Winchester Road in Collierville.

Bank Stocks Up Amid Report of Gov't Plan for Citi

NEW YORK (AP) - Bank stocks rose in early morning trading Monday after hitting new lows last week as investors welcomed the possibility that the government would increase its ownership stake in struggling Citigroup Inc. – an alternative to nationalizing the bank.

FedEx CEO: Use of Foreign Oil Threatens US Economy

WASHINGTON (AP) - FedEx Corp. Chief Executive Fred Smith said Monday that U.S. reliance on foreign oil is the biggest threat to the nation's economy after terrorism.

UAW Reaches Health Care Trust Fund Deal with Ford

DETROIT (AP) - The United Auto Workers and Ford Motor Co. said Monday they agreed to let the automaker change how it pays for a health care trust fund for retired workers, a deal that could serve as the model for cash-starved General Motors Corp. and Chrysler LLC.

Bill Seeks to Make Anti-Bullying Law Consistent

NASHVILLE, Tenn. (AP) - Tennessee Sen. Diane Black is sponsoring legislation she hopes will help school districts develop more consistent anti-bullying policies.

Freddie Mac Investigates Self over Lobby Campaign

WASHINGTON (AP) - Lawyers hired by mortgage finance giant Freddie Mac are quietly investigating the firm's own $2 million lobbying campaign, The Associated Press has learned. The lobbying effort helped quash proposed new regulations on the company before the housing market collapsed.

Official: Investigator to Lead Stimulus Oversight

WASHINGTON (AP) - President Barack Obama plans to announce Monday a former Secret Service agent who helped expose lobbyists' corruption at the Interior Department as his pick to oversee the $787 billion economic stimulus plan.

Looking to 2012, GOP Governors Step into Spotlight

WASHINGTON (AP) - With an eye toward the 2012 presidential contest, leading Republicans used this weekend's meeting of the National Governors Association to lay out divergent views of President Obama's stimulus plan – and competing visions of their party's future.

Obama Urges Spending Curbs, Hands Out $15 Billion

WASHINGTON (AP) - Urging future restraint even as current spending soars, President Barack Obama pledged on Monday to dramatically slash the skyrocketing annual budget deficit as he started to dole out the record $787 billion economic stimulus package he signed last week.

Tenn. Coal Industry Agrees to Severance Tax Hike

NASHVILLE, Tenn. (AP) - Tennessee roadbuilders and the mining industry are lining up behind a bill to increase the state's severance tax on each ton of coal from 20 cents to $1 over the next four years.

Average Price of Gas Climbs 3 Cents Across US

CAMARILLO, Calif. (AP) - The Lundberg Survey of fuel prices says the average national price of gasoline increased 2.6 cents in the past two weeks.

Philly Newspaper Owner Files for Bankruptcy

PHILADELPHIA (AP) - The owner of The Philadelphia Inquirer and Philadelphia Daily News filed for bankruptcy protection Sunday in an effort to restructure its debt load.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 119 482 10,051
MORTGAGES 119 497 11,811
FORECLOSURE NOTICES 29 82 1,716
BUILDING PERMITS 268 1,056 21,366
BANKRUPTCIES 50 263 6,700
BUSINESS LICENSES 28 151 3,584
UTILITY CONNECTIONS 33 172 4,155
MARRIAGE LICENSES 20 111 2,290

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