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VOL. 124 | NO. 45 | Friday, March 6, 2009

Re/Max Owner Under Fire

Re/Max of Kentucky/Tennessee Inc. has filed a breach of franchise agreement complaint against Stan Holmes, his realty company and the four Re/Max franchises he operated in the Memphis area, for a litany of unpaid fees plus penalties and other costs.

Raiford’s Daughter to Open Downtown Club

The sounds that fill the still somewhat empty space inside 14 S. Second St. next to Elliott’s restaurant are hammers banging, saws buzzing and workmen getting everything ready.

Wharton Not Giving Up On Consolidation

Look for a new consolidation offensive to surface in about two weeks, said Shelby County Mayor A C Wharton Jr.

Tennessee, County Unemployment Jumps in January

Tennessee’s seasonally adjusted unemployment rate got worse in January, growing one percentage point from the December rate of 7.6 percent to 8.6 percent for the first month of the new year.

GTx: FDA Will Rule On Bone Drug By Oct.

GTx Inc. reported Thursday that the U.S. Food and Drug Administration plans to make a ruling on the company’s bone drug toremifene by Oct. 30.

Local Weather
Memphis, TN
Thunderstorm Rain Fog/Mist
Wind: Calm mph
Humidity: 100%


The University of Memphis Cecil C. Humphreys School of Law will host a diversity outreach program for high school and college undergraduate students today at 8 a.m. in Room 136 of the Fogelman Executive Center. The all-day event will include a question-and-answer session with current law students, a panel discussion and a luncheon. There is no admission fee but registration is required. To register, call 678-2528.

more events »

Ex-Toyota Official Says Miss. Plant Still in the Works

FULTON, Miss. (AP) – The former senior vice president for Toyota Motor North America says he expects the automaker to open its Northeast Mississippi plant when the economy gets better.

Kullman Educates Public About Bipolar Disorder

Marc Kullman hands out red, rectangular lapel pins that can have smiley faces or frowning faces. They are miniature versions of a painting he did to symbolize what living with bipolar disorder is like.

Ramsey Launches Tenn. Gubernatorial Committee

NASHVILLE, Tenn. (AP) - Republican state Senate Speaker Ron Ramsey has officially launched his exploratory committee for a gubernatorial run in 2010.

Republicans Form Rural Caucus in Tenn. Legislature

NASHVILLE, Tenn. (AP) - A new group of Republican lawmakers is being formed to advocate for rural issues in Tennessee.

House to Vote on Bankruptcy Mortgage Rewrites

WASHINGTON (AP) - Debt-strapped homeowners unable to afford their mortgages could get their monthly payments lowered in bankruptcy court under a controversial element of President Barack Obama's housing rescue plan.

Retailers Report Sales Declines in February

NEW YORK (AP) - Tighter inventory control and milder weather helped retailers in February as business at many merchants was not as bad as in January. Wal-Mart's gains far outpaced expectations – but many stores, especially at the higher end, still struggled.

Mortgage Woes Break Records Again in Q4

NEW YORK (AP) - A stunning 48 percent of the U.S. homeowners who have a subprime, adjustable-rate mortgage are behind on their payments or in foreclosure, and the rate for homeowners with all mortgage types hit a new record, new data Thursday showed.

Factory Orders Fall for Record Sixth Month

WASHINGTON (AP) - Orders to U.S. factories fell for a record sixth straight month in January as demand declined across a wide cross-section of industries.

Valero to Idle Delaware City Refinery for Repairs

DOVER, Del. (AP) - Valero Energy Corp. says it will shut down its Delaware City oil refinery for at least a month while repairs are made to a major refining unit.

Target February Same-Store Sales Fall 4.1 Percent

MINNEAPOLIS (AP) - Discount retailer Target Corp. said Thursday that its same-stores sales fell 4.1 percent in February, a better figure than analysts had expected as shoppers bought necessities such as groceries but steered clear of apparel and home products.

US Productivity Falls While Wage Pressures Rise

WASHINGTON (AP) - The deepening recession caused worker productivity to slide by a worse-than-expected amount in the fourth quarter while wage pressures shot up at the fastest clip in two years.

Obama Welcomes Allies, Skeptics to Health Summit

WASHINGTON (AP) - President Barack Obama summoned allies, skeptics and health care figures of all stripes to the White House Thursday to debate ideas for overhauling the nation's costly system and declared, "The status quo is the one option that is not on the table."

Ark. Bombing Investigation Draws Leads, Reward

LITTLE ROCK, Ark. (AP) - For days, lunchtime talk in West Memphis always came back to the well-known doctor, the bomb that injured him and the rumors about who planted the homemade explosive.

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PROPERTY SALES 59 232 11,757
MORTGAGES 80 254 13,681
BUILDING PERMITS 93 480 24,644
BANKRUPTCIES 61 179 7,652

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