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VOL. 124 | NO. 89 | Thursday, May 7, 2009

Grocery Wholesaler Inks Deal For Part Of Overton Square.

Associated Wholesale Grocers Inc., a Kansas-based grocery wholesaler, has signed a contract to acquire and develop a portion of Overton Square, The Daily News has learned.

Scrap-Metal Dealers to Make Case in City Court

Another round in the battle against scrap-metal theft is set for today, when the Memphis City Court hears protests from companies that haven’t complied with an ordinance requiring them to obtain a permit to recycle scrap metals such as copper and also to “tag and hold” purchased metals before processing them.

Pyramid Funding Details Shift to Legal Front

Now the attorneys begin drafting a contract.

Life After City Hall: The story behind Herenton’s Washington surprise

You would think that Mayor Willie Herenton’s “resignation” last spring as he thought about trying out for Memphis City Schools superintendent would be difficult to top.

Get Past Candidates’ Personalities and Focus on Citizenry

Even if Willie Herenton and Steve Cohen don’t have a showdown in 2010, major changes are under way in the community of people we elect to represent us. It is our obligation to make sure this is about more than who stays and who goes.

Local Weather
Memphis, TN
Mostly Cloudy
Wind: West at 11.5 mph
Humidity: 74%


The Alliance for Nonprofit Excellence will present a workshop titled “Capital Campaigns” today from 8:30 a.m. to noon at the Alliance office, 5100 Poplar Ave., Suite 502. David Lindstrom will lead the workshop. Cost is $65 for members, $125 for nonmembers and $55 for those in the Program for Nonprofit Excellence. For more information, call 684-6605 or visit www.npexcellence.org.

more events »

MED Progresses On Clinic Spin-Off Proposal

Claude Watts, the interim chief executive officer of The Regional Medical Center at Memphis, on Wednesday gave a timetable for negotiations to spin off the hospital’s clinics and an update on efforts to obtain more funding from neighboring states.

After Economy Induced Détente, Divorces Rise Again

The recession hit hard late last year, giving many couples another reason – besides the holiday season – to put off filing for divorce.

FDIC Chief Calls for ‘Systemic Risk Council’

WASHINGTON (AP) – The head of the Federal Deposit Insurance Corp. says new powers are needed to oversee companies that pose financial risks to the economy, an authority that could be shared by the FDIC and other regulators.

City Awaits Bids for Tracking Bracelets

The city of Memphis has $2 million set aside to fund the supply of a new high-tech device for the Memphis Police Department.

Vaxent Named Finalist In World Vaccine Competition

The selection committee of the World Vaccine Congress put Vaxent – a startup venture in Memphis with only two employees – alongside pharmaceutical giants Merck, Wyeth, Novartis and Sanofi Pasteur as a finalist for the Best Prophylactic Vaccine award.

Right to Work Foundation Prez. Discusses Legislation Impact

Mark A. Mix, president of the National Right to Work Legal Defense Foundation, will be the featured speaker at today’s 2009 Labor & Employment Conference at The Hilton Memphis on Ridge Lake Boulevard. The conference is sponsored by Kisewetter Wise Kaplan Prather PLC.

‘Sultana’ Author Offers Perspective On Little-Known Disaster

Alan Huffman is the author of a new book on the April 1865 explosion of the steamer “Sultana” on the Mississippi River.

Theatergoers off to See the Witches

By the pricking of Pat Halloran’s thumbs, something “Wicked” this way comes.

Gov't Sets June 8 Deadline for Banks' Capital Plan

WASHINGTON (AP) - The nation's biggest banks that are found to need more capital after government stress tests will have one month to come up with a plan to raise the additional resources.

Bill to Allow Handguns in Tenn. Parks Advances

NASHVILLE, Tenn. (AP) - People with handgun carry permits from Tennessee and 19 other states could bring their loaded firearms into state and local parks under a bill advancing in the Senate.

Bill Limiting State to Two Planes Fails for Year

NASHVILLE, Tenn. (AP) - A proposal that would limit the state of Tennessee to ownership of two airplanes has failed for the year.

Peabody Hotel Wins Legal Fight Over Use of Name

MEMPHIS, Tenn. (AP) - The Peabody hotel's prized marching ducks have gained a federal court's help in protecting their professional image.

Senate Moves Toward Easing Mortgage Terms

WASHINGTON (AP) - Trying to curb home foreclosures, the Senate voted on Wednesday to make it easier for homeowners with risky credit to switch to a lower-cost mortgage backed by the government.

BofA Shares Rise Amid Reports of $34B Shortfall

NEW YORK (AP) - Bank of America Corp. stock rose in premarket trading after an initial decline, amid reports that it needs $34 billion in new capital.

Public Scrutiny Blunted Bank Stress Tests

WASHINGTON (AP) - Treasury Secretary Timothy Geithner said in February that putting the nation's biggest banks through "stress tests" was vital to getting the financial system back on solid ground.

Bredesen Bill on Restaurant Calorie Counts Fails

NASHVILLE, Tenn. (AP) - Gov. Phil Bredesen's proposal to require calorie counts on menus at chain restaurants in Tennessee has failed for the year.

Auditors See SEC Deficiencies

WASHINGTON (AP) - The Securities and Exchange Commission has made progress in tightening its procedures for managing its caseload of enforcement investigations but internal communications and use of resources still must be improved, congressional auditors have concluded in a new report.

Health Insurers Ask Gov't to Police Their Industry

WASHINGTON (AP) - Health insurance companies are offering new concessions, including lower rates for millions of women, as they try to persuade Congress not to set up a government health plan to compete against them.

Banks Returning Bailouts Will Face Conditions

WASHINGTON (AP) - Banks that want to pay back their federal bailout funds and free themselves from government restrictions on compensation and dividends will have to sever their ties to another financial assistance program.

Madoff Secretary: His Silence is Protecting Others

NEW YORK (AP) - Bernard Madoff's longtime secretary said Wednesday that she believes the disgraced financier is not cooperating with authorities in order to protect others, and that he was a flirtatious boss who frequented massage parlors.

Glaxo Sells US Wellbutrin Rights to Biovail

LONDON (AP) - GlaxoSmithKline PLC said Wednesday it is selling full commercial rights to antidepressant Wellbutrin XL in the United States to Canadian drug developer Biovail Corp. for $510 million.

Judge OKs Chrysler's Steps Toward Sale to Fiat

NEW YORK (AP) - The judge overseeing Chrysler LLC's Chapter 11 bankruptcy protection proceedings has ruled that the automaker can start taking steps toward selling the vast majority of its assets to Italy's Fiat Group SpA. The judge also said lawyers for a dissident group of lenders have until noon (1600 GMT) Wednesday to file a list of members with the court, ruling that their identities do not need to be sealed despite reported death threats.

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