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VOL. 124 | NO. 52 | Tuesday, March 17, 2009

Council, Commission Mobilize Against State Wage Bill

A bill passed by the Tennessee Senate Thursday and sponsored by a state lawmaker from Germantown would prohibit local governments from requiring private employers to pay their workers a living wage.

Investors Seek Out Troubled Properties in Troubled Times

Kent Clothier Sr. began dabbling in the real estate market more than 20 years ago when he owned American Wholesale Grocers. As real estate investment evolved into more than a hobby, Clothier sold that company in 1995. By then real estate was a full-time career – and a passion.

IRS Files $226M Claim Against Stanford

As a Texas receiver sifts through claims against Stanford Financial Group, one creditor has asked to skip toward the front of the line – the Internal Revenue Service.

Kids, Adults Gear Up for Shootout Event at FedExForum

During March in Memphis, it seems as if most days could be considered “basketball day.” But as the trappings of last week’s C-USA tournament at FedExForum give way to NCAA tournament rankings and travel schedules, the forum will be the site Saturday of what can only be described as a day devoted to what is the city’s most popular sport – basketball.

Analysts Mostly Unfazed by Medtronic Defibrillator Problems

On Friday, the company reported as many as 13 patients may have died as a result of problems with wires, or leads, that connect its Sprint Fidelis implantable defibrillators to a patient’s heart. The product has been off the market since October 2007 following the company’s disclosure that five patients’ deaths may have been caused by broken wires.

Local Weather
Currently
Memphis, TN
61.0°F
Partly Cloudy
Wind: South at 15.0 mph
Humidity: 35%

EVENTS

The Memphis Rotary Club will meet today at noon at the University Club of Memphis, 1346 Central Ave. State Sen. Mark Norris, R-Collierville, will speak. Lunch is $18 per person and reservations are required. For reservations, e-mail Taylor Hughes at taylor@memphisrotary.org.

more events »

World Overcomers Buys Hickory Ridge Mall Macy’s

6001 Winchester Road, Memphis, TN 38115, Sale Amount: $1 Million -
The World Overcomers Ministries Church Inc. has bought the former Macy’s department store at the Hickory Ridge Mall. The church, which already owned the main mall building, paid $1 million for the 212,282-square-foot store. Macy’s anchored the mall’s west side before a tornado damaged the property last year.

Police Chiefs Oppose End to Anonymous Complaints

NASHVILLE, Tenn. (AP) - Nashville Police Chief Ronal Serpas is speaking out against a legislative proposal to do away with anonymous complaints against law enforcement officers, saying it could deter reports of misconduct.

Senate to Hear Tenn. Abortion Amendment

NASHVILLE, Tenn. (AP) - A proposal to change the Tennessee Constitution to allow the state to impose greater limits on abortions will be heard by the Senate.

State Makes Changes to Figuring Incarceration Cost

NASHVILLE, Tenn. (AP) - State officials are taking steps to more accurately determine incarceration costs in Tennessee.

Mortgage Fraud Reports Up 26 Percent

WASHINGTON (AP) - The mortgage industry, applying far more scrutiny after a tidal wave of defaults, reported a record number of mortgage fraud incidents last year, with Rhode Island making its first appearance as the nation's top fraud hot spot.

Homebuilder Sentiment Index Unchanged in March

LOS ANGELES (AP) - A key gauge of homebuilders' confidence remained near historic lows in March, as builders saw a drop in prospective homebuyers visiting model homes amid rising job losses and economic fears, according to a survey released Monday.

Obama Details Plan to Aid Small Businesses

WASHINGTON (AP) - President Barack Obama on Monday offered a fresh package of aid to small businesses – "the heart of the American economy" – in an aggressive push to get big banks that got federal bailout money to do more lending to these struggling entrepreneurs.

AIG Says Emergency Aid Used to Pay Other Banks

NEW YORK (AP) - American International Group Inc. used more than $90 billion in federal aid to pay out foreign and domestic banks, some of whom had received their own multibillion-dollar U.S. government bailouts.

Bernanke: Recession Could End in '09

WASHINGTON (AP) - America's recession "probably" will end this year if the government succeeds in bolstering the banking system, Federal Reserve Chairman Ben Bernanke said.

Obama: AIG Can't Justify 'Outrage' of Bonuses

WASHINGTON (AP) - President Barack Obama on Monday issued a blistering attack on American International Group and pledged to stop the struggling insurance and investment giant from paying out millions in executive bonuses.

Prosecutors Will Seek Madoff's Wife's Money Too

NEW YORK (AP) - Bernard Madoff's wife could theoretically claim more than $100 million in assets – and should forfeit it all, according to federal prosecutors.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 331 19,904
MORTGAGES 0 391 23,305
FORECLOSURE NOTICES 0 83 8,387
BUILDING PERMITS 0 338 40,366
BANKRUPTCIES 1 232 13,336
BUSINESS LICENSES 0 76 6,213
UTILITY CONNECTIONS 0 125 13,120
MARRIAGE LICENSES 0 94 4,936

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