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VOL. 123 | NO. 118 | Tuesday, June 17, 2008

School Board Pleads for Funding – Again

Since Friday, members of the Memphis City Schools Board of Education and the Memphis City Council have continued haggling over the council’s decision earlier this month to withhold more than $70 million from the school district’s budget.

Sales Drop 50% Despite Builders’ Best Efforts

Green building isn’t an instant salve for the ailing real estate market, but some local builders are moving in that direction as they continue to cope with slumping home sales.

Jackson Avenue Properties Transformed Into Flea Market

3972 Jackson Ave., Memphis, TN 38128, Sale Amount: $1 Million -
Joseph Sy has added the final piece of the puzzle for his forthcoming open-air flea market on Jackson Avenue. Sy, a developer who spends time in Nevada and Memphis, has bought a 17,686-square-foot retail center at 3792 Jackson Ave., south of the Jackson–Interstate 40 interchange.

Report Finds Tenn. Offered $3 Million To Snag Cyrus Movie

NASHVILLE (AP) – Tennessee used more than $3 million in incentives to lure Walt Disney Pictures to film “Hannah Montana: The Movie” in the state.

Bernanke: Improving Health Care Is Critical Challenge

WASHINGTON (AP) – Bolstering the performance of the U.S. health care system is one of the biggest challenges facing the country, said Federal Reserve Chairman Ben Bernanke Monday.

Local Weather
Currently
Memphis, TN
49.0°F
Fair
Wind: from the North at 10.4 gusting to 21.9 mph
Humidity: 41%

EVENTS

The Memphis Rotary Club will meet today at noon in Ballroom B of the Memphis Cook Convention Center, 255 N. Main St. The featured speaker will be Betty Ann Wilson, who will speak on international efforts for water purification. The cost is $18 per person. Reservations are required and can be made to Taylor Hughes at 526-1318 or taylor@memphisrotary.org.

more events »

Former Sen. Bowers Begins Prison Sentence

MEMPHIS (AP) - Former state Sen. Kathryn Bowers of Memphis has begun serving her federal prison sentence for bribery.

Alexander Reports Up to $42M in Assets

KNOXVILLE (AP) - U.S. Sen. Lamar Alexander, the third-ranking Republican in the Senate and one of the chamber's wealthiest members, reports personal assets ranging from $13.2 million to more than $42 million.

Tennessee Animal Advocates Say Good Year in Legislature

CHATTANOOGA (AP) - Animal protection advocates in Tennessee consider this year's legislative session to be a success, including a new law that requires a bittering agent in antifreeze.

Homebuilder Sentiment Index Falls in June

LOS ANGELES (AP) - Homebuilders say business is looking as grim as they did back in December, when a monthly survey of hundreds of builders hit a record low.

Lenders Pledge Speedy Response on Loan Help

WASHINGTON (AP) - Mortgage companies are pledging to let troubled borrowers know whether they're approved for help within 45 days of receiving a homeowner's application.

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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.