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VOL. 124 | NO. 67 | Tuesday, April 7, 2009

Council Approves PILOT Changes

Herenton Says No Tax Hike, No Layoffs and Three Percent Pay Raise

With the 13-0 vote, the PILOT (payment in lieu of taxes) program loses its requirement that businesses getting the tax breaks must have a work force that is at least 75 percent Shelby County residents. It also eliminates the provision that requires companies to put an amount of money in escrow that equates to the local taxes they would have paid during their ramp-up period.

Ridder Is New Circuit Court Judge

Attorney Lorrie Ridder is the new Shelby County Circuit Court judge for Division 4.

City Closer to Injecting Foreclosure Relief

The city of Memphis has checked off one more thing it has to do so $11.5 million in federal aid can be deployed in neighborhoods hit hard by foreclosure.

Maclin Announces For County Clerk

Wrestling promoter and television personality Corey Maclin in the latest Democratic candidate to announce his intention for the 2010 county-wide elections.

US Airlines Reduced Hassle In 2008

WASHINGTON (AP) – U.S. air carriers led by Hawaiian Airlines took some of the hassle out of flying last year.

Local Weather
Memphis, TN
Wind: Northwest at 8.1 mph
Humidity: 87%


The Greater Memphis Chamber will host the Metro Business Council Breakfast today from 7:30 a.m. to 9 a.m. at The Racquet Club of Memphis, 5111 Sanderlin Ave. Terrance Reed, vice president of human resources for Buckeye Technologies, and Paul Morris of law firm Martin, Tate, Morrow & Marston PC will speak. Cost is $20 for members. For reservations, contact Ericka Milford at emilford@memphischamber.com or 543-3518.

more events »

Treasury Extends Toxic Asset Program Deadline

WASHINGTON (AP) – The U.S. Treasury Department is trying to ensure broader participation from hedge funds and other private investors in its bad asset purchase program by loosening the criteria for those who want to take part.

Permit Filed For Owens Corning Alteration

693 Corrine Ave., Memphis, TN 38107, Permit Cost: $600,000 -
An industrial building permit for $600,000 has been filed with the city-county Office of Construction Code Enforcement for property at 693 Corrine Ave. The owner of the property is Belz Union Realty Co. GP, and the tenant is listed as Owens Corning Corp.

Government Cracking Down on Mortgage Scams

WASHINGTON (AP) - Top federal and state officials on Monday announced a broad crackdown on mortgage modification scams, accusing "criminal actors" of preying on desperate borrowers caught up in the nation's housing crisis.

Corbat Named CEO of Citi Holdings Unit

NEW YORK (AP) - Citigroup Inc. on Monday took the "interim" out of Mike Corbat's title as chief executive of Citi Holdings, the business that includes the riskier assets at the big banking company.

AT&T and Union Talks Continue Past Deadline

AT&T and unions for its landline workers were working past a strike deadline Sunday to try to reach agreement on a new contract.

Bristol-Myers, Japanese Drugmaker Expand Deal

TRENTON, N.J. (AP) - Drugmaker Bristol-Myers Squibb Co., seeking to bolster revenue during a crucial period, said Monday it has struck a deal with a Japanese partner to extend their partnership on one drug by 2 1/2 years and to collaborate on two others.

Defense Chief Proposes Weapons Cuts

WASHINGTON (AP) - Defense Secretary Robert Gates on Monday recommended halting production of the F-22 fighter jet and scrapping a new helicopter for the president as he outlined deep cuts to many of the military's biggest weapons programs.

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BANKRUPTCIES 55 113 4,460

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