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VOL. 125 | NO. 22 | Wednesday, February 3, 2010

Luttrell to Run for County Mayor

Shelby County Sheriff Mark Luttrell is running for county mayor in the May 4 Republican primaries.

Bank of Fayette Scoops Up MATCU Branch

It’s something that might seem in short supply in the bloodied financial services industry these days. But thanks to a lucky turn of fate, McCall Wilson’s 105-year-old community bank, headquartered in Moscow, Tenn., opened a new branch in Oakland this week.

DeSoto Officials Eye I-269’s Potential

Interstate 69 is dubbed the “NAFTA Highway” after the North American Free Trade Agreement because it will course through the central U.S. from Canada to Mexico, connecting the continent’s three nations.

UPS Earnings Mostly Bright After Economic Turbulence

UPS may not be based in Memphis – its hometown is Atlanta – but fourth quarter earnings from the world’s largest shipper should create as much buzz here as anywhere.

MED CEO Reacts to State Budget Cuts

Gov. Phil Bredesen said Monday night he plans to use the state’s reserves to spare some state jobs and key services but he stressed that painful cuts will be unavoidable and hundreds of state employees may be laid off.

Local Weather
Currently
Memphis, TN
55.0°F
A Few Clouds
Wind: Variable at 3.5 mph
Humidity: 29%

EVENTS

The Greater Memphis Chamber will hold a breakfast forum today from 7:30 a.m. to 9 a.m. at The Peabody hotel, 149 Union Ave. Tom Schmitt, chairman of the chamber, will speak. To register, contact Ericka Milford at 543-3518 or emilford@memphischamber.com.

more events »

TennCare Cuts Under Way Now

Call it coincidence or bad timing, but many physicians in Tennessee began taking a 14 percent cut for seeing TennCare patients on the same day Gov. Phil Bredesen announced deep cuts in health care spending.

Southern Heritage Classic Founder Receives Lifetime Achievement Award

Fred Jones has received the Arthur S. Holmon Lifetime Achievement Award from the University of Memphis Black Student Association.

MEMPHIS AREA

Medtronic Spends Nearly $1M on Lobbying in Q4

WASHINGTON (AP)Medtronic Inc., the world’s largest medical device maker, spent nearly $1 million lobbying Congress in the fourth quarter of 2009, according to a recent disclosure form.

STATEWIDE

Tenn. Anti-Gang Law Largely Unused Since Passage

COLUMBIA, Tenn. (AP) – A state law enacted 13 years ago to give gang members harsher prison sentences likely never has been successfully used by prosecutors.

STATE LEGISLATURE

Lawmakers Concerned About Bredesen's Revenue Plan

NASHVILLE, Tenn. (AP) - Some Tennessee lawmakers say they're concerned about how their constituents will react to a state revenue proposal that includes taxing cable TV and hiking driver's license fees for the first time in more than 20 years.

NATIONAL BUSINESS

Obama Pitches Aid for Struggling Small Businesses

NASHUA, N.H. (AP) - President Barack Obama unleashed bare-knuckled criticism against opposition Republicans on Tuesday, using some of his toughest language yet to paint them as electoral opportunists willing to switch positions at will to score points with voters.

Unemployment Rises in Most Metro Areas

WASHINGTON (AP) - Unemployment rose in most cities and counties in December, signaling that companies remain reluctant to hire even as the economy recovers.

Volcker Calls for US Commercial Bank Trading Limit

WASHINGTON (AP) - Prohibiting commercial banks from some high-risk trades should be an essential component of broader financial regulations and would cut back on institutions deemed "too big to fail," former Federal Reserve Chairman Paul Volcker said Tuesday.

NATIONAL POLITICS

Colbert Faces Off with Ford Jr. Over NY Residency

NEW YORK (AP) - Stephen Colbert grilled potential U.S. Senate candidate and Memphis native Harold Ford Jr. on Monday about his shifting beliefs on gay marriage and abortion rights, while Ford defended himself as open-minded to change.

Obama Team Draws Sharp Questions on US Budget

WASHINGTON (AP) - President Barack Obama's $3.8 trillion budget outline drew bipartisan fire from U.S. lawmakers on Tuesday, with Republicans complaining it does not address deficits soon enough and raises taxes too much. Democrats balked at some of Obama's spending cuts.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 61 331 19,904
MORTGAGES 80 391 23,305
FORECLOSURE NOTICES 0 83 8,387
BUILDING PERMITS 0 338 40,366
BANKRUPTCIES 35 231 13,335
BUSINESS LICENSES 28 76 6,213
UTILITY CONNECTIONS 0 125 13,120
MARRIAGE LICENSES 21 94 4,936

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The Memphis News: Business, politics, and the public interest.