VOL. 124 | NO. 80 | Friday, April 24, 2009
Memphis Mayor Willie Herenton has urged the Memphis City Council to restore 82 cents to the city’s property tax rate to help fund the Memphis school system.
The status report Dallas attorney Ralph Janvey filed in the Texas court where a sprawling federal case is unfolding against Stanford provides new details about the motivations, goals and progress of Janvey’s efforts. Janvey was appointed as Stanford’s receiver in February shortly after the U.S. Securities and Exchange Commission filed a civil suit claiming the Stanford business empire was built on secrets, deception and a multibillion-dollar investment fraud.
No matter what happens with the overall redevelopment of the Mid-South Fairgrounds – a project that could be scaled back in light of the economy – the plan to build the Kroc Center of Memphis is gaining steam.
Memphis City Council members this week were given the first annual report showing the impact of the city’s living wage ordinance. The news was positive in one sense and difficult to categorize in another.
The new receiver for the Beale Street Entertainment District will oversee an entity with shifting alliances, more than two sides to every story and thousands of pages of records involving hundreds of thousands of dollars.
Right now, it’s one of the city budget’s big What Ifs.
Hospital administrators have changed locations as Methodist Le Bonheur Healthcare expands its Germantown location and continues its campaign to put a hospital in Olive Branch.
The deal to continue city funding of the Memphis and Shelby County Health Department has a $2 million bonus if county government can get other Shelby County municipalities to join in its funding.
Warsaw, Ind., which competes with Memphis for orthopedics manufacturing jobs, recently opened a state-of-the-art training center with new equipment and machinery.
Regina Hubbard never considered herself a political person, but a couple of instances changed her outlook on the effect politics can have on real estate, in which she has practiced for 13 years.
NASHVILLE, Tenn. (AP) - The House has voted 45-44 to reject Senate changes to a bill to allow people with handgun permits to carry their weapons into establishments that sell alcoholic drinks.
NASHVILLE, Tenn. (AP) - Gov. Phil Bredesen says he expects partisan differences to be set aside on a proposal to raise taxes on employers to shore up Tennessee's unemployment trust fund.
NASHVILLE, Tenn. (AP) - Prominent Tennessee Democrats are setting up a fundraising apparatus that will be separate from state party operations.
NASHVILLE, Tenn. (AP) - The Senate has passed a proposal that would ban reading or sending cellular phone text messages while driving.
NASHVILLE, Tenn. (AP) - Gov. Phil Bredesen says sliding lottery sales shouldn't affect college scholarships.
NASHVILLE, Tenn. (AP) - State Sen. Roy Herron says he will step down as chairman of the Senate Democratic Caucus after this legislative session to focus on his run for governor.
PITTSBURGH (AP) - Nucor Corp., the largest U.S. steel maker by production, on Thursday reported its first loss ever as a severe recession sapped demand for the metal. It forecast an even bigger loss for the second quarter, calling conditions the worst it's ever seen.
ATLANTA (AP) - SunTrust Banks Inc. said Thursday that it swung to a loss in the first-quarter as a one-time impairment charge and increased loan loss reserves offset improving revenue.
ATLANTA (AP) - UPS Inc.'s first-quarter profit plunged as fewer people sent packages and used premium services like next-day air amid the global financial crisis. The world's largest shipping carrier also gave a disappointing second-quarter outlook on Thursday, and disclosed it shed 10,000 domestic jobs during the first three months of the year.
NEW YORK (AP) - Bank of America Chief Executive Kenneth Lewis told the New York attorney general he believed former Treasury Secretary Henry Paulson and Fed Chairman Ben Bernanke wanted him to keep quiet about the worsening terms of the bank's acquisition of Merrill Lynch, according to testimony reviewed by The Wall Street Journal.
WASHINGTON (AP) - Lawmakers pressed the Obama administration on Thursday to better track how financial institutions are using the government's financial bailout money, a step the Treasury Department has resisted despite demands from a federal watchdog agency.
DETROIT (AP) - Thousands of GM workers could learn as early as Thursday that they will be idle for up to nine weeks this summer as the automaker's plants stop making all but its most popular cars and trucks.
WASHINGTON (AP) - Millions of people jobless. Billions of dollars in bailouts. Trillions of dollars in U.S. debt. And yet, for the first time in years, more Americans than not say the country is on the right track.