VOL. 124 | NO. 55 | Friday, March 20, 2009
The Commercial Appeal has begun a series of layoffs delayed from earlier this month. Among those fired today was Jimmie Covington, the CA’s most senior reporter who recently had been assigned to the newspaper’s DeSoto County bureau, newsroom sources said. Covington came to the newspaper as an intern in the early 1960s. His tenure included lengthy stays on the Memphis City Schools beat as well as covering Shelby County government.
The pulse of commercial real estate is barely detectable, but the fact that it’s still registering a beat is remarkable considering the trauma it’s suffered over the past year.
This summer’s PGA Tour golf tournament in Memphis, formerly known as the Stanford St. Jude Classic, has been renamed in the wake of an extensive federal investigation of former title sponsor Stanford Financial Group.?Reflecting the troubles surrounding Stanford, the tournament – scheduled for June 8-14 at Southwind – has dropped the name of Stanford and is now the St. Jude Classic.
FedEx Corp.’s earnings report landed with a thud Thursday morning, as the world’s largest air cargo shipper announced plans to further slash costs after seeing third-quarter profits plummet 75 percent.
The Shelby County Assessor of Property is releasing a second batch of 2009 residential property reappraisals today. And the preliminary figures show double-digit increases in taxable value for each municipality outside of Memphis included in the mailout.
One of several civil lawsuits alleging child sexual abuse by a Memphis Catholic priest has been dismissed the same week the Tennessee Supreme Court refused to hear an appeal in a similar case from Memphis.
There were different outcomes in Memphis federal court this week for two former Memphis police officers accused in a four-year scheme to rob drug dealers.
Peggy Williamson has no background in criminal justice or community policing, but that hasn’t stopped her from organizing and heading the Midtown Security Community.
There were times in the past 25 years or so when Downtown watchers believed it was only a matter of time before the old Lowenstein Building would crumble from neglect.
WASHINGTON (AP) – At least 13 firms receiving billions of dollars in bailout money owe more than $220 million in unpaid federal taxes, a key lawmaker said Thursday.
WASHINGTON (AP) - Democrats pressed for quick action Thursday on a bill to slap punishing taxes on big employee bonuses from firms bailed out by taxpayers. Republicans called it a legally questionable ploy to paper over Obama administration missteps.
NASHVILLE, Tenn. (AP) - The Tennessee House has voted to allow people with handgun carry permits to transport loaded rifles and shotguns in their vehicles.
DALLAS (AP) - Hospital operator Tenet Healthcare Corp. said Thursday it agreed to a contract with health insurer Aetna Inc. under which Aetna will use 400 doctors who work for Tenet in its health plan networks.
WASHINGTON (AP) - New jobless claims fell more than expected last week, but continuing claims set a new record for the eighth straight week and few economists expect the labor market to improve anytime soon.
WASHINGTON (AP) - Rates on 30-year mortgages plunged this week to the lowest level since January, and are poised to fall further after the Federal Reserve launched a new effort to prop up the flailing housing market.
NEW YORK (AP) - An appeals court considering whether Bernard Madoff should remain jailed pending sentencing grilled lawyers for both sides Thursday, noting to prosecutors that Madoff could have fled the country before his massive Ponzi scheme was uncovered.
SAN FRANSCISCO (AP) - Gannett Co. slashed its chief executive's pay package by 60 percent last year, passing along the financial misery that has tormented the largest U.S. newspaper publisher as its stock price and profit shrank amid an industrywide drop in advertising revenue.
WASHINGTON (AP) - The Treasury Department, trying to stabilize the battered auto industry, will provide up to $5 billion in financing to troubled auto parts suppliers who are linked to Detroit's carmakers, officials said Thursday.