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VOL. 125 | NO. 116 | Wednesday, June 16, 2010

FedEx Reports Strong Q4, Forecasts Tepid Year

FedEx Corp. closed the fiscal year on a high note with strong fourth-quarter earnings, but the global shipping giant issued a conservative outlook as it gears up for the next 12 months.

Community Gift

Le Bonheur celebrates 58 years with new hospital

The floats told the story of Le Bonheur Children’s Hospital on Tuesday as it celebrated its 58th birthday with the opening celebration for a new $340 million pediatric medical center.

Ground Broken on Green Tiger Lane

With green rakes and hard hats, city leaders broke ground Wednesday for the $15 million Tiger Lane project at the Mid-South Fairgrounds.

Memphis Biofuels Facility Foreclosed

The property that houses the Memphis Biofuels LLC biodiesel production facility has been foreclosed and will be sold on the courthouse steps, according to a notice that appears on Page 24 of Wednesday’s print edition of The Daily News and also at The Daily News Online, www.memphisdailynews.com.

Trestle Capital Steps Into Downtown

A new investment management and consulting firm is preparing to set up shop Downtown after considering spaces in Midtown and in East Memphis’ Ridgeway Center.

Local Weather
Currently
Memphis, TN
42.0°F
Fair
Wind: Northwest at 6.9 mph
Humidity: 76%

EVENTS

The Shelby County Commission will hold committee meetings Wednesday beginning at 8:30 a.m. at 160 N. Main St. For more information, call Steve Summerall at 545-4301.

more events »

Arbors Of River Oaks Sells for $16.3 Million

An out-of-town company has pulled the trigger on the largest multifamily deal of 2010 with the $16.3 million purchase of the Arbors of River Oaks.

Fulbright-Dent Joins First Tennessee Team

Moya Fulbright-Dent has been named to the First Tennessee Bank private client team.

A Brand Experience That Engages

Let’s face it – consumers are simply bombarded with marketing clutter everywhere they turn. Standing out from the pack takes ingenuity, which is at the heart of guerrilla marketing.

Hodges Devises Task Force for Charter Group

Millington Mayor Richard Hodges missed some meetings of the Metro Charter Commission because of the early May floods. Millington got the worst of the flooding in Shelby County.

STATEWIDE

Haslam Tops $8M Mark for Tenn. Governor's Bid

NASHVILLE (AP) - Republican Bill Haslam's campaign says the Knoxville mayor has topped $8 million in contributions for his gubernatorial bid.

Attorneys in 1950 Nashville Protests Honored

NASHVILLE (AP) - Local bar associations are celebrating Law Day Tuesday by honoring local attorneys who defended the rights of lunch counter sit-in demonstrators in Nashville in 1960.

REAL ESTATE

Homebuilders Less Confident In Housing Market

WASHINGTON (AP) – Homebuilders are losing confidence in the housing market now that government incentives that spurred home sales have ended.

NATIONAL BUSINESS

China and Other Countries Buy US Treasury Debt

WASHINGTON (AP) - China boosted its holdings of U.S. Treasury debt in April for the second straight month as total foreign holdings of U.S. government debt increased.

NATIONAL POLITICS

Obama Walk in Sand is Prelude to Primetime Speech

PENSACOLA, Fla. (AP) - Laying the groundwork for an evening speech to the nation, President Barack Obama walked a pristine stretch of sand on Florida's shoreline Tuesday and pledged to "fight back with everything we've got" against the spreading oil lurking offshore.

Congress Grills Oil Execs on Prep for Major Spill

WASHINGTON (AP) - Members of Congress chastised the largest oil companies Tuesday, accusing them of being no better prepared than BP to avert an environmental catastrophe.

Government Soon To Require Clearer 401(k) Fees

DES MOINES, Iowa (AP) – Who would choose to buy something without knowing exactly how much it costs? Few people would. Yet that’s what millions of investors do when they sign up for a 401(k) plan.

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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.