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VOL. 125 | NO. 45 | Monday, March 8, 2010

UPDATE: Council To Be Asked To Jump Start Fairgrounds Project

Memphis City Council members will be on the deciding end Tuesday of a push to get an immediate council vote on a plan to create a great lawn at the Fairgrounds and demolish seven buildings including the Pipkin Building.

Small Biz: Where’s Our Stimulus?

The U.S. government has pumped billions of dollars into the economy to stabilize the banking system and keep money flowing, but not much is trickling down to small-business owners like Mitch Jacobs.

Biz Owners Seek Cost-Saving Measures

When sales are down, profits are thin and spending cuts have already been made, what else can a small-business owner do to keep the doors open?

Millington Businessman Admits to Running Ponzi Scheme

A Millington man pleaded guilty Monday to carrying out a Ponzi scheme that defrauded investors of about $3.5 million.

Hurd To Circuit Court

Collierville attorney Rhynette Northcross Hurd is the new division eight Circuit Court judge.

Local Weather
Currently
Memphis, TN
39.0°F
Fair
Wind: Northwest at 5.8 mph
Humidity: 76%

EVENTS

Methodist Hospice will hold a grief class today at 1 p.m. at Saint Luke’s United Methodist Church, 480 S. Highland St. Classes discuss a broad range of issues related to grief. Registration is not required. For more information, contact Mary Elizabeth Jones at 516-1604 or jonemar@methodisthealth.org.

more events »

Three Cops Indicted In Nightclub Payoff Case

Three Memphis police officers arrested on federal bribery, extortion and conspiracy charges have been indicted by a federal grand jury.

Financial Federal Keeps Up By Offering New Services

Financial Federal Savings Bank, which celebrates its silver anniversary this year, has a few simple goals for 2010.

Former Indy Mayor’s Advice To Local Government: Cut Red Tape

Combining city and county governments is not the issue, the former mayor of Indianapolis told the Metro Charter Commission last week.

Berclair Television Thrives In Changing Market, Economy

Carl Thornton isn’t sure what has changed more in the last half-century, the television industry or the economy, but he’s figured out ways to stay on top of both.

United Way Sees Unique Fundraising Success

The United Way of the Mid-South surpassed its $25 million goal this year, which is encouraging news for the Memphis nonprofit community. However, not all charities are enjoying that kind of success.

Little Draws on Experiences To Recognize Opportunities

George Little refers to the past two months as “eight weeks since I got out of prison.”

THE MEMPHIS NEWS

The Cost of Progress

The development of Norfolk Southern Corp.’s $112 million intermodal yard on a former cattle ranch in Fayette County has polarized the community for more than a year.

Intermodal Yard Points to Larger Questions About Fayette’s Future

The Piperton-Rossville area of Fayette County will change and the central question is how.

Rail Yard Backers Tout Economic Benefits

Ahost of heavy hitters back Norfolk Southern Corp.’s plan for a $112 million intermodal facility in Fayette County, but many of those in the private sector declined to comment here.

Water Contamination From Norfolk Site Almost a Certainty

News came recently that Norfolk Southern Corp. will receive $105 million in federal stimulus money. It was reported that $52.5 million of the taxpayer funds will be used to build the company’s new Memphis Regional Intermodal Facility in Fayette County between Rossville and Piperton on the former Twin Hill Ranch.

Children Get Bugged Out at CMOM Exhibit

Insects may be creepy and crawly but a brand new traveling exhibit at the Children’s Museum of Memphis hopes to demonstrate how bugs may also be educational and even tasty.

New Restaurants Quickly Change Cooper-Young Landscape

Afew weeks ago, you might have heard waves of despair sweeping through the intersection at Cooper Street and Young Avenue, when Dish, the long-running bar/restaurant, and Blue Fish, the upscale seafood restaurant, closed abruptly.

Chile’s Signature Grape Avoids Merlot Label

In the late 19th century the hapless carmenère grape got kicked out of Bordeaux and migrated to Chile and there everybody forgot about it and thought it was merlot!

STATEWIDE

US Senate Panel Approves TVA Board Appointees

CHATTANOOGA, Tenn. (AP) - A U.S. Senate panel has approved President Barack Obama's four appointees to the Tennessee Valley Authority board, putting them in line for a confirmation vote by the full Senate.

REGIONAL

Amendment Would Levy Fee Coal Ash Dumped in Perry

MONTGOMERY, Ala. (AP) - A proposed constitutional amendment has been introduced in the Alabama House that would allow Perry County to levy a $5 per ton fee on coal ash disposed at a privately owned landfill near Uniontown.

NATIONAL BUSINESS

Unemployment Rate Unchanged As 36K Jobs Lost

WASHINGTON (AP) – The unemployment rate held at 9.7 percent in February as employers shed 36,000 jobs, fewer than expected. The figures suggested the job market is slowly healing but that significant hiring has yet to occur.

Consumer Borrowing Up in January After 11 Declines

WASHINGTON (AP) - Consumer borrowing broke a record stretch of declines with a small increase in January as a boost in auto loans offset continued weakness in credit card borrowing.

Angry Students Protest Cuts to Schools, Colleges

BERKELEY, Calif. (AP) - Anger over rising tuition and school budget cuts boiled over as students across the country staged rowdy demonstrations that led to clashes with police and the rush-hour shutdown of a major freeway in California.

REAL ESTATE

Lawmaker is Working to Improve Loan Modifications

WASHINGTON (AP) - A key lawmaker is working with banks, regulators and the Obama administration on a new way to boost the government's struggling foreclosure prevention effort by encouraging banks to reduce the total amount borrowers owe.

Pending Home Sales Fall 7.6 Pct. in Jan

WASHINGTON (AP) - The number of buyers who agreed to purchase a home fell sharply in January, a sign that demand for housing is sinking this winter as stormy weather slammed Eastern states.

Thirsty America

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 344 19,573
MORTGAGES 110 422 22,914
FORECLOSURE NOTICES 2 8,305 8,305
BUILDING PERMITS 207 838 40,029
BANKRUPTCIES 60 356 13,104
BUSINESS LICENSES 21 194 6,137
UTILITY CONNECTIONS 30 147 12,996
MARRIAGE LICENSES 15 65 4,842

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