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VOL. 124 | NO. 85 | Friday, May 1, 2009

One Commerce Square Faces Foreclosure

The real estate crisis has struck a blow to the Memphis skyline, hitting one of Downtown’s tallest and most iconic towers.

County Mobilizes Against Swine Flu

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.

Green Paper Trail Leads to Ware

It hasn’t been a good week and a half for City Council member Barbara Swearengen Ware.

Council Wrenched by School Funding

Around this time last year, Memphis City Council members axed $66 million from the city school system’s 2008-2009 budget request.

State AG Files Suit Against Memphis Businesses

Tennessee attorney general Bob Cooper filed two lawsuits this week and entered into three settlements involving misleading business advertisements that promote notary public services in Spanish. Two of the businesses his office went after operate in Memphis.

Local Weather
Memphis, TN
Mostly Cloudy
Wind: South at 6.9 mph
Humidity: 77%


The Alliance for Nonprofit Excellence will hold its fourth annual conference today from 8:30 a.m. to 3:30 p.m. at the Jewish Community Center, 6560 Poplar Ave. Cost is $99 for members, $150 for nonmembers and $65 for students. The theme is “Surviving the Perfect Storm: Reinventing the Nonprofit’s Future.” Paul Light, New York University professor and Washington Post columnist, will be the keynote speaker. To register, visit npexcellence.org/conference.php or call 684-6605.

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New Study Shows Airport’s Impact

As far as economic engines go, it’s long been known that Memphis International Airport has the power of a 747.

Chrysler Files for Chapter 11 Bankruptcy

WASHINGTON (AP)Chrysler LLC filed for bankruptcy protection Thursday and will form an alliance with the Italian carmaker Fiat Group SpA in an effort to revive the U.S.’ ailing third-largest automaker.

Beasley Touts Hybrid Hospital Records

Implementing innovative health care practices doesn’t always require reinventing the wheel.

Ramsey Seeks Agreement on Judicial Selection

NASHVILLE, Tenn. (AP) - Senate Speaker Ron Ramsey said Thursday he wants to strike an agreement on changes to Tennessee's system of filling state Supreme Court vacancies within the next two weeks.

Bill Would Remove Department's Transfer Authority

NASHVILLE, Tenn. (AP) - A proposal that would remove the state Department of Finance and Administration's authority to transfer certain funds is headed to the governor for his consideration.

Ramsey Questions Use of Stimulus to Alleviate Cuts

NASHVILLE, Tenn. (AP) - Senate Speaker Ron Ramsey says deeper spending cuts in Tennessee may need to come sooner than originally planned because of worsening economic conditions.

Senate Democrats Elect Finney Caucus Chairman

NASHVILLE, Tenn. (AP) - Senate Democrats have elected Sen. Lowe Finney of Jackson to be their next caucus chairman.

Domestic Violence Gun Legislation Advances

NASHVILLE, Tenn. (AP) - A person subject to an order of protection for domestic violence would have to relinquish his or her weapon under a proposal that the Senate Judiciary Committee has advanced.

Tenn. Lawmakers Agree on Texting While Driving Proposal

NASHVILLE, Tenn. (AP) - A proposal that would ban reading or sending cellular phone text messages while driving is headed to the governor's desk after lawmakers agreed on minor differences in the proposal.

Consumer Spending, New Jobless Claims Dip

WASHINGTON (AP) - Consumer spending fell more than expected in March after two straight monthly gains, a stark reminder of a fragile economy that has pushed a record number of Americans to draw jobless benefits.

Defendant in Reinsurance Fraud Faces Sentencing

HARTFORD, Conn. (AP) - A former executive of Connecticut-based General Re Corp. will serve a year and a day in prison for his role in an accounting scandal that authorities say cost shareholders of American International Group Inc. more than $500 million.

Consumer Spending Falls by 0.2 Percent in March

WASHINGTON (AP) - Consumer spending fell for the first time in three months while income growth slipped for a second straight month, indicating that the U.S. economy is still struggling to emerge from the recession.

Gov't Going After Companies Hiring Illegal Workers

WASHINGTON (AP) - The Obama administration is pursuing employers who knowingly hire and exploit illegal workers, a policy not significantly different from the Bush administration's, according to a copy of the guidelines obtained by The Associated Press.

Credit Card Legislation Nearing Success

WASHINGTON (AP) - Responding to a wave of populist anger, the House moved toward passage of a consumer protection bill to rein in credit card practices and eliminate sudden interest rate increases and late fees that have entangled millions of consumers.

Dollar 3-Month Interbank Rate Falls to 6-Year Low

LONDON (AP) - The cost of three-month dollar loans between banks fell modestly to a six-year low Thursday after the U.S. Federal Reserve said the recession had eased slightly since its last meeting in mid-March, though it stressed that economic activity would likely remain weak.

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PROPERTY SALES 79 396 11,921
MORTGAGES 90 443 13,870
BUILDING PERMITS 191 975 25,139
BANKRUPTCIES 56 289 7,762

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