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VOL. 124 | NO. 59 | Thursday, March 26, 2009

Aitken Tapped As New County School Superintendent

John Aitken is the new superintendent of the Shelby County school system.

Stimulus to Relieve MED Money Woes

The Regional Medical Center at Memphis, which laid off 88 employees this week, apparently won’t have to shut its doors later this year because federal stimulus money will offset some state funding cutbacks.

Perry Enters Probate Clerk Race

Add another candidate to the already forming 2010 Shelby County ballot.

Tenn. Panel Advances Bill Allowing Guns in Parks

NASHVILLE (AP) – A state House panel on Wednesday advanced a measure to authorize local governments to allow people with state-issued handgun carry permits to carry their loaded weapons in parks and playgrounds.

Bredesen Budget Leaves UTHSC Wanting

The budget proposed by Gov. Phil Bredesen may delay job cuts at the University of Tennessee Health Science Center, but it won’t provide any new money for construction projects or stop the institution from seeking a 10 percent tuition hike, said UTHSC Chancellor Hershel P. Wall.

Local Weather
Memphis, TN
Mostly Cloudy
Wind: North at 16.1 mph
Humidity: 48%


The Shelby County Board of Commissioners Needs Assessment Committee will meet today at 8:30 a.m. in the Shelby County Administration Building, 114 N. Main St. For more information, call Steve Summerall at 545-4301.

more events »

FedEx Plays Hardball Over Possible Union Move

FedEx Corp. might rescind its option to purchase $6.7 billion worth of Boeing aircraft if Congress passes a law that would classify the company under the National Labor Relations Act. That law, in turn, could pave the way for unionization at the shipping giant.

Robilio Takes Helm of Bar Auxiliary

Victor Robilio Jr. has been elected as the first male president in the Memphis Bar Auxiliary’s history. But that’s not all he has on his plate.

Target CEO Got $7.3 Million Pay Package

MINNEAPOLIS (AP)Target Corp.’s chief executive and chairman Gregg W. Steinhafel received compensation valued at $7.3 million in 2008, down more than 24 percent from the prior year, as the discount retailer struggled amid a deepening recession, according to an Associated Press analysis of a regulatory filing Tuesday.

Lenschau Blends Environmental Interests Into Law, Life

James G. M. Lenschau, a director and shareholder in the Memphis office of Martin, Tate, Morrow and Marston PC, practices in commercial transactions and commercial real estate. He advises and assists clients on a variety of matters ranging from business planning to public finance, banking and environmental and corporate governance. He also represents lenders in secured loan transactions.

Mortgage Lending Lawsuit Complaint Drafted

An 80-page complaint that could grow larger has been drafted as part of a lawsuit likely to be filed in the coming weeks on behalf of Memphis and Shelby County against more than a dozen national mortgage lending companies.

IP Gives its CEO '08 Compensation Valued at $10.3M

NEW YORK (AP) - John V. Faraci, chief executive of International Paper Co., received compensation last year valued at $10.3 million, 4 percent less that the previous year, according to an Associated Press calculation of figures disclosed Monday in a regulatory filing.

Wamp Announces Top Gubernatorial Campaign Staff

NASHVILLE, Tenn. (AP) - U.S. Rep. Zach Wamp has named former state Republican Party Chairman Bob Davis as his gubernatorial campaign chairman.

CB Richard Ellis Shares Soar on Credit Pact

BOSTON (AP) - Shares of CB Richard Ellis Group Inc. soared on Wednesday after the commercial real estate services company renegotiated a credit agreement and an analyst upgraded the stock.

Judge Refuses to Dismiss Charge in Obama Plot

JACKSON, Tenn. (AP) - One of two men accused of plotting to kill President Barack Obama and dozens of other black people has failed to get a threat charge against him dismissed.

Mortgage Applications Up on Jump in Refinancing

WASHINGTON (AP) - Mortgage applications surged last week, coming mostly from borrowers looking to refinance at sharply lower rates after the Federal Reserve unveiled plans to buy Treasury bonds and mortgage-backed securities.

Administration Seeks Action on Financial Overhaul

The administration wants Congress to act quickly on legislation that would give it sweeping new powers to seize financial firms whose collapse could jeopardize the U.S. economy, Treasury Secretary Timothy Geithner said Wednesday.

Treasury Provides $80.7M to 10 Banks from Bailout

WASHINGTON (AP) - The government said Tuesday it has provided $80.7 million to 10 banks in the latest payments from the $700 billion financial rescue fund.

Vet Groups: Definition of Combat is Outdated

WASHINGTON (AP) - A World War II-era law established that veterans who "engaged in combat with the enemy" receive special treatment when they seek disability compensation, making it less burdensome for them to prove the injury was from their time in the service.

Amtrak Workers to Get $145M in Back Pay

WASHINGTON (AP) - Amtrak says thousands of employees who worked for years under an outdated contract will soon start getting the remaining $145 million they are owed in back pay.

Postal Chief Says Post Office Running Out of Money

WASHINGTON (AP) - The post office will run out of money this year unless it gets help, Postmaster General John Potter told Congress on Wednesday as he sought permission to cut delivery to five days a week.

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PROPERTY SALES 79 396 11,921
MORTGAGES 90 443 13,870
BUILDING PERMITS 191 975 25,139
BANKRUPTCIES 56 289 7,762

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