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VOL. 124 | NO. 84 | Thursday, April 30, 2009

Shelby County Deals With First Swine Flu Case

St. Jude Children’s Research Hospital has detected swine flu in Shelby County, giving local officials a head start toward fighting the spread of the virus, and has begun efforts to develop a vaccine for global use.

Accredo Income Surges in Q1

Memphis-based Accredo Health Group Inc. saw a 43.3 percent increase in operating income as the company posted revenues of $2.3 billion during the first quarter of this year.

Magna Limits Banking to Memphis

Memphis-based Magna Bank has reached a deal to sell for an undisclosed sum its one bank branch outside the city to Brentwood, Tenn.-based Reliant Bank.

Corker Wants to Know How Banks Are Using TARP Money

Tennessee’s junior U.S. Senator wants more accountability from banks flush with money from the federal government’s Troubled Asset Relief Program.

Commercial Real Estate Slump Continues

The start of spring brought the first sign of hope in the commercial real estate market.

Local Weather
Currently
Memphis, TN
55.0°F
Overcast and Breezy
Wind: from the Northwest at 24.2 gusting to 40.3 mph
Humidity: 62%

EVENTS

The Shelby County EOC Appeals Board will meet today at 11 a.m. in the first floor chambers of the Shelby County Administration Building, 160 N. Main St. For more information, call Steve Summerall at 545-4301.

more events »

Married Attorneys: Working Together A Bonus for Clients

In the Memphis legal community, it’s not hard to find two attorneys who are married to each other. Constantly meeting new people is one of the most basic components of their jobs.

Buckeye Posts Decline In Q1 Earnings

Buckeye Technologies Inc. late Tuesday released its earnings for the first quarter. The company reported earnings of 11 cents per share, down from the 26 cents per share in the same period last year.

Treasury Increases 30-Year Bond Auctions

WASHINGTON (AP) – The U.S. Treasury Department reported Wednesday it will boost the number of times it auctions 30-year bonds to 12 times a year in another move to cope with the government’s soaring debt.

House GOP Leader Mentioned In Campfield Libel Case

NASHVILLE (AP) – House Republican Caucus Chairman Glen Casada doesn’t dispute that he could be the source of comments leading to a $750,000 libel lawsuit against another GOP lawmaker.

Faughnan Selected For Litigation Counsel of America

Brian Faughnan, a partner at the Memphis office of Adams & Reese LLP, has joined the Litigation Counsel of America, an invitation-only trial lawyer honorary society.

New Law Bars Collecting Information About Guns

NASHVILLE, Tenn. (AP) - Gov. Phil Bredesen has signed into law a measure to bar the state Safety Department from collecting identifying information about handguns used in training courses for carry permits.

Rival Bills Advancing on Tenn. Judicial Selection

NASHVILLE, Tenn. (AP) - Tennessee Supreme Court justices could be challenged in re-election campaigns under a proposal advanced by a Senate panel on Wednesday. But House leaders are voicing support for a rival measure with a more limited scope.

Bill Proposes Automatic Tenn. Gas Tax Increase

NASHVILLE, Tenn. (AP) - Legislation that would set up a new system to adjust Tennessee gasoline taxes annually based on the consumer price index is advancing in the House.

Bill Would Require DUI Offender to Purchase Plate

NASHVILLE, Tenn. (AP) - The House Judiciary Committee has delayed action on a proposal that would require a person convicted of driving under the influence to purchase a special license plate.

Tenn. Abortion Measure Passes House Budget Panel

NASHVILLE, Tenn. (AP) - A proposed constitutional amendment that would limit access to abortions in Tennessee is once again advancing in the House.

Earnings Preview: International Paper First Quarter

NEW YORK (AP) - International Paper Co. reports first-quarter results on Thursday before the market opens. The following is a summary of key developments and analyst opinion related to the period.

US House, Senate on Track to Pass Budget Plan

WASHINGTON (AP) - President Barack Obama's Democratic allies in Congress are aiming to give him a gift to cap his 100th day in office: passage of a congressional budget plan that endorses much of his ambitious agenda, especially his plan to reform the U.S. health care system.

WSJ: Citi Asks Treasury if It Can Pay Bonuses

NEW YORK (AP) - Citigroup Inc., which has received $45 billion in federal bailout funds and potentially could have to raise more capital based on "stress test" results, is requesting permission from the Treasury Department to pay out special bonuses to certain workers, The Wall Street Journal said late Tuesday.

BofA Delays Release of Votes on CEO Lewis

CHARLOTTE, North Carolina (AP) - Ken Lewis is keeping his seat on the Bank of America Corp. board, but his job title is less certain.

Fed Sees Signs Recession May be Easing

WASHINGTON (AP) - The Federal Reserve said Wednesday it sees signs the recession is easing and that the economic outlook has "improved modestly" since last month.

SPIN METER: Counting Jobs a Political Numbers Game

EDITOR'S NOTE — An occasional look behind the rhetoric of public officials.

Drugmaker Wyeth Posts Flat 1st-Quarter Profit

TRENTON, N.J. (AP) - Drugmaker Wyeth, which is being acquired by drug giant Pfizer, on Wednesday posted a flat first-quarter profit but beat analysts' expectations, as cost cuts offset lower revenue, particularly for its top seller, blockbuster antidepressant Effexor.

Nardelli Says Chrysler Making Progress

NEW YORK (AP) - With one day left to go before its deadline, Chrysler LLC's chief executive said Wednesday that the automaker is making progress toward meeting the government's restructuring requirements.

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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.