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VOL. 124 | NO. 101 | Tuesday, May 26, 2009

County Schools Move on After Desegregation Case

Shifting school attendance zones and deciding where to build or close schools will still be controversial for those who lead the Shelby County school system.

Commercial Sector Limps Through April

The commercial real estate sales volume slowed to a crawl in April, reaching only half of what it was the same month a year ago.

New Dentistry Dean Tackles Knotty Agenda

As the new dean of the University of Tennessee Health Science Center College of Dentistry, his tasks are to renovate a 33-year-old building, raise the money to pay for the improvements and revamp a program that was once ranked among the best in the nation.

School Funding Stakeholders Discuss Differences

Shelby County Commission member Mike Ritz says that if the city of Memphis dropped its appeal in the court battle over school funding, the two governing bodies could talk through their differences.

Georgia Co. Buys U of M-Area Senior Nursing Facility

3549 Norriswood Ave., Memphis, TN 38111, Sale Amount: $7.3 Million -
The Wesley Highland Manor senior nursing facility at 3549 Norriswood Ave. near the University of Memphis has sold for $7.3 million to FC Highlands LLC, a single-purpose entity related to Alpharetta, Ga.-based Formation Capital.

Local Weather
Currently
Memphis, TN
80.0°F
Partly Cloudy
Wind: Northeast at 8.1 mph
Humidity: 62%

EVENTS

The Memphis Rotary Club will meet today at noon at the University Club of Memphis, 1346 Central Ave. Willie Gregory of Nike Inc. will speak. Lunch is $18 per person and reservations are required. For reservations, e-mail Taylor Hughes at taylor@memphisrotary.org.

more events »

Homeowners Turn To Home Trading Web Sites

MIAMI (AP) – Diane Peek needed to move from Georgia to central Florida, but for six months no one even showed interest in the house she and her husband built outside Atlanta.

US House OKs Safety Plan for Overseas Aircraft Work

WASHINGTON (AP) - U.S. inspectors would conduct more checks of overseas aircraft repair stations under a House bill approved Thursday that seeks to address safety concerns as major airlines send maintenance work overseas.

With Liddy Leaving, AIG Revamp Reaches New Phase

NEW YORK (AP) - After creating a plan to radically alter American International Group Inc.'s operations to help repay billions in government loans, chairman and chief executive Edward Liddy is leaving his vision for the insurer in the hands of a whole new set of managers.

GMAC Receives $7.5B in New Treasury Aid

NEW YORK (AP) - The U.S. government could eventually own a majority stake in GMAC Financial Services following its latest $7.5 billion aid package to the ailing auto financing company.

Treasury IG: 'Inappropriate' Backdating at Thrifts

WASHINGTON (AP) - The Treasury Department's watchdog has uncovered improper backdating of cash infusions at six thrifts including IndyMac, in an investigation that already has prompted the removal of the federal thrift agency's acting director.

To Cover Both Wars, Senate Passes $91.3B Bill

WASHINGTON (AP) - The Senate is backing President Barack Obama's efforts to ramp up the war in Afghanistan, granting his request for $91.3 billion for military and diplomatic operations there and in Iraq.

Obama Signs Bill to Cut Wasteful Defense Spending

WASHINGTON (AP) - President Barack Obama granted the Pentagon new power to rein in wasteful defense spending Friday, a change he said was long overdue.

Florida's BankUnited Fails, Will Cost FDIC $4.9B

WASHINGTON (AP) - The federal seizure of struggling Florida thrift BankUnited FSB is expected to cost the Federal Deposit Insurance Corp. $4.9 billion, representing the second-largest hit to the FDIC's insurance fund since the financial crisis began felling banks last year.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 79 396 11,921
MORTGAGES 90 443 13,870
FORECLOSURE NOTICES 10 70 1,928
BUILDING PERMITS 191 975 25,139
BANKRUPTCIES 56 289 7,762
BUSINESS LICENSES 23 184 4,083
UTILITY CONNECTIONS 22 166 4,847
MARRIAGE LICENSES 16 81 2,625

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The Memphis News: Business, politics, and the public interest.