VOL. 124 | NO. 78 | Wednesday, April 22, 2009
Attorney John Ryder has been appointed receiver for the Beale Street entertainment district.
The Shelby County Board of Commissioners today approved in special session a deal that would continue city funding for the local Health Department for another year and sell off the county’s share of The Pyramid to the city.
Memphis Mayor Willie Herenton announced Tuesday that he has formed an exploratory committee to run for Congress in the 2010 elections.
The last pending civil lawsuit alleging child sexual abuse by a Memphis priest remained alive this week.
During his 18th annual budget presentation to the Memphis City Council, Memphis Mayor Willie Herenton signaled the city’s current property tax rate of $3.25 per $100 of assessed value likely will be reduced for the coming fiscal year.
The city of Memphis will not renew its controversial contract with a Texas law firm responsible for collecting delinquent taxes from Memphis taxpayers.
First Horizon National Corp. president and CEO Bryan Jordan opened his remarks to shareholders at the Memphis company’s annual meeting Tuesday with what most listeners probably would say was an understatement.
Mueller Industries Inc. announced Tuesday a first-quarter net loss of $2.5 million. In a company press release, numbers showed first-quarter net sales were $326.6 million, compared to $704.1 million in the first quarter of 2008. The company posted net income of $27.4 million for the first quarter of 2009.
The first use in Memphis of what is billed as the world’s smallest heart pump helped bring Benjamin Greene back from the brink of death.
ATLANTA (AP) – Delta Air Lines Inc., the world’s biggest airline operator, said Tuesday it was instituting a $50 fee for most passengers to check a second bag on an international flight – a first among major U.S. carriers – as it reported a $794 million first-quarter loss from the weak economy and bad bets on fuel hedges.
BIRMINGHAM, Ala. (AP) - Regions Financial Corp. on Tuesday reported a surprising first-quarter profit, driven by strong mortgage banking revenue and deposit growth. But loan losses at the regional bank continued to increase as consumers struggled to pay off their debts.
NASHVILLE (AP) – Tennessee’s two Nobel Peace Prize winners, Al Gore and Cordell Hull, might be honored with statues on the state Capitol grounds.
FedEx Corp. is known for its orange and purple logo, but company founder Fred Smith this week revealed his proclivity for an entirely different color – green.
Amy Chapman, broker and owner of Weichert Realtors-Chapman & Associates, has been awarded Quality Service Certified Platinum status. It is considered the highest level of service achievement in the real estate industry.
NASHVILLE, Tenn. (AP) - A proposal to place caps on damages in lawsuits against nursing homes failed in a House subcommittee on Tuesday, but the sponsor says he will try again next year.
NASHVILLE, Tenn. (AP) - The Senate Transportation Committee advanced the state Transportation Department spending plan despite objections to the use of bonds in the budget.
NASHVILLE, Tenn. (AP) - House Speaker Kent Williams returned to the Legislature Tuesday following the death last week of his 92-year-old father, Roby.
NASHVILLE, Tenn. (AP) - A measure to prohibit local governments in Tennessee from imposing a minimum wage higher than the federal rate has failed in a House subcommittee.
DETROIT (AP) - General Motors Corp. could get as much as $5 billion more in federal loans, while Chrysler LLC could get $500 million as they race against government-imposed deadlines to restructure, according to a government report filed Tuesday.
PITTSBURGH (AP) - Caterpillar Inc., the world's largest maker of construction and mining equipment, on Tuesday reported a first-quarter loss of $112 million, hurt by sharp sales declines across the globe and a big charge for recent layoffs.
WASHINGTON (AP) - Treasury Secretary Timothy Geithner acknowledged continued weaknesses in the U.S. financial system Tuesday, citing declines in consumer lending and higher costs for credit despite billions of dollars of government money for financial institutions.
NEW YORK (AP) - The anger was evident at Citigroup Inc.'s annual meeting, where all nominated directors were elected but shareholders took turns at the microphone to vociferously object to the bank's performance over the past year.
WASHINGTON (AP) - The International Monetary Fund said Tuesday worldwide financial institutions could suffer more than $4 trillion in losses from the global credit crisis with the U.S. leading the way with a total of $2.7 trillion.
WASHINGTON (AP) - Only $109.6 billion in resources remain in the government's $700 billion financial rescue fund.