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VOL. 125 | NO. 37 | Wednesday, February 24, 2010

Recession Pushes Looney Ricks Kiss Into Bankruptcy

Looney Ricks Kiss Architects Inc., one of the city’s most recognizable and renowned architectural and design firms, on Tuesday filed a Chapter 11 bankruptcy petition.

Growth Flat for Medtronic’s Local Divisions

Medtronic Inc. increased its revenue by 10 percent during the company’s most recent quarter, but the Memphis-based Spinal and Biologics Division did not factor into that profit margin.

Commercial Real Estate Raises Red Flags for Bankers

This month’s foreclosure of the 19-story Exchange Building apartment tower at 130 Madison Ave. is a local example of a problem that’s sounding alarm bells in the banking industry.

Council Delays MED Money Vote

Memphis City Council members have delayed a vote on $2 million in emergency funding for The Regional Medical Center until April.

New FDA Rules Could Tighten Medical Device Pipeline

Memphis makers of medical devices are keeping a close watch on the U.S. Food and Drug Administration as it considers tightening the rules that allow a faster approval track for some products.

Local Weather
Memphis, TN
Wind: South at 5.8 mph
Humidity: 88%


Talk Shoppe will present “The Master Mind Principle – A Proven Success Formula” today from 9 a.m. to 10 a.m. at the Better Business Bureau of the Mid-South, 3693 Tyndale Drive. For more information, call 482-0354.

more events »

Wooddale Condos’ Future Uncertain After Nuisance Action

A 43-year old set of decaying condominiums in Fox Meadows got a new crop of plywood and fresh signs this week warning people to keep out.

Accredo Health Reports $9.5 Billion in Revenue

With another record-setting year of revenues, Accredo Health Group Inc. is closing in on the $10 billion mark.

Evolve Bank & Trust Names Holland to Board

Evolve Bank & Trust has named Lewis E. Holland to its board of directors.


High Court Defines Business HQ

WASHINGTON (AP) – The U.S. Supreme Court ruled Tuesday that a corporation’s principal place of business is where the company’s executives work, not where its products are sold.

Banks Report Small Profit but ‘Problem’ List Jumps

WASHINGTON (AP) – The number of U.S. banks considered troubled jumped to more than 700 last quarter even as the industry eked out a small profit, the government said Tuesday.

Toyota Apologizes for Handling of Safety Issues

WASHINGTON (AP) — The president of Toyota's U.S. operations insisted Tuesday that electronic problems did not contribute to sudden acceleration of its cars, drawing sharp criticism from lawmakers who said such a possibility should not be ruled out and from a tearful woman driver who could not stop her runaway Lexus.

Report: Wall Streeters Received $20B in Bonuses in 2009

ALBANY, N.Y. (AP) — Employees at Wall Street financial firms collected more than $20 billion in bonuses in 2009, the year after taxpayers bailed out the financial sector amid the economic meltdown, New York state Comptroller Thomas DiNapoli said Tuesday. The payouts were about 17 percent higher than the previous year's bonuses.

Retailers Profits Rise, But Customers Hold Back

CHICAGO (AP) — A fleet of the nation's biggest merchants reported mostly better fourth-quarter profits Tuesday.

Sharp Fall in Consumer Confidence Spurs Fears

NEW YORK (AP) — Americans' outlook on the economy went into relapse in February. Rising job worries sent a key barometer of confidence to its lowest point in 10 months, raising concerns about the economic recovery.


Federal Break May Spare Some TennCare Cuts

NASHVILLE (AP) – TennCare officials say a federal agency’s decision could give the state $120 million and mitigate severe cuts to the state’s expanded Medicaid program.

Bill Would Allow Fish Tanks in Tenn. Barber Shops

NASHVILLE, Tenn. (AP) — Barber shop owners in Tennessee could have fish tanks in their establishments under a measure making waves in the Legislature.

Court Postponed for Skinhead Charged in Obama Plot

JACKSON, Tenn. (AP) — A West Tennessee man accused of plotting to kill then-Sen. Barack Obama and dozens of other black people in 2008 has had a court date reset for March 29.


Hoyer: Comprehensive Health Bill May Be No Go

WASHINGTON (AP) — Democratic congressional leaders confronted the reality Tuesday that they may not be able to pass the comprehensive health care overhaul sought by President Barack Obama. Republican leaders prepared to do everything in their power to make sure they can't.

Legislators Mull Cuts in Medicaid

LITTLE ROCK, Ark. (AP) — The Arkansas state Medicaid program likely has enough money to get through the current fiscal year, but legislators gave a preview of the discussion to come over how to cut as much as $400 million from the public health insurance program next fiscal year.

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PROPERTY SALES 94 494 11,526
MORTGAGES 99 552 13,427
BUILDING PERMITS 135 926 24,165
BANKRUPTCIES 63 276 7,473

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