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VOL. 124 | NO. 119 | Friday, June 19, 2009

Numbers Show Industrial Real Estate Taking Plenty Of ‘Licks’

A healthy industrial real estate market is imperative for Memphis to live up to its longtime moniker of “America’s Distribution Center” or its new one of “America’s Aerotropolis.”

Outside Interests Local Sector’s Biggest Benefactors

As the real estate slump toils on, a Chicago-based company has proven to be a savior of sorts for the local industrial sector.

Massey Keeps Tabs on Industrial Incentives

Joann Massey started her new job just six months ago, but within that short time frame she has been a key player on a team that has made Memphis a better competitor for new jobs.

City, County Tax Picture Comes Into Focus

Most property owners whose appraisals increased this year will end up paying more in property taxes, based on tax rates approved this week by Memphis and Shelby County governments.

Memphis Airport Traffic Numbers Down

Passenger and cargo traffic at Memphis International Airport continued to shrink in May because of the soft economy.

Local Weather
Currently
Memphis, TN
34.0°F
Fair
Wind: Northeast at 5.8 mph
Humidity: 73%

EVENTS

The Center for Southern Folklore will host a free performance by Tempeh Four today at noon at the center, 123 S. Main St. The performance is part of the center’s Brown Bag Lunch Series. For more information, call 525-3655.

more events »

Le Bonheur Adds To Original Plans, Stays on Track

Low costs for building materials and an ample pool of skilled construction workers have allowed the new Le Bonheur Children’s Medical Center to stay on track for completion one year from now – even with additions to the project.

Medtronic Responds To False Research Reports

However, the controversy isn’t likely to have an effect on sales of the product because the disputed study does not concern its approved uses.

Lawmakers OK $29.6B State Budget

NASHVILLE (AP) – The House and Senate agreed late Wednesday on a $29.6 billion Tennessee spending plan and sent the budget measure for the governor’s consideration.

Jobless Rate in Tenn. Reaches 10.7 Percent

NASHVILLE, Tenn. (AP) - Tennessee Commissioner of Labor and Workforce Development James Neeley has announced a state jobless rate of 10.7 percent for May.

Black Caucus Seeks Culture Change on Tenn. Capitol Hill

NASHVILLE, Tenn. (AP) - The chairman of the Tennessee Black Caucus says a culture change is needed on Capitol Hill to prevent the dissemination of racist e-mails like the one sent from a state computer about President Barack Obama.

Measure to Close Handgun Records Fails in Tenn. Senate

NASHVILLE, Tenn. (AP) - Opponents of a measure to close access to the names of people who hold state-issued permits to carry loaded handguns say its failure Wednesday night is a victory for those who support open government.

Regions Wins 29 Percent Acceptance for Swap

BIRMINGHAM, Ala. (AP) - Regions Financial Corp. said Thursday that it achieved nearly 29 percent acceptance of its capital-raising offer to exchange up to 110 million shares of common stock for $700 million in debt securities.

Tenn. Submits Bid for GM Car at Spring Hill Plant

NASHVILLE, Tenn. (AP) - Tennessee officials have submitted their bid to General Motors to try to persuade the company to choose its Spring Hill plant over two other finalists for the production of a new small car.

Leading Economic Indicators Up More Than Expected

NEW YORK (AP) - A private research group's forecast of economic activity rose in May by the largest amount in more than five years, the latest sign that the recession is easing.

High Court Rules in Favor of Ex-Enron Executive

WASHINGTON (AP) - The Supreme Court on Thursday sided with a former Enron Corp. executive in a ruling that makes it unlikely he can be tried a second time on charges related to financial fraud at the one-time energy giant.

Senate Questions Obama's Financial Oversight Plan

WASHINGTON (AP) - President Barack Obama's plan to increase oversight of U.S. banks and other financial institutions met with skepticism on Capitol Hill on Thursday, where senators sharply questioned whether it was enough to prevent another economic meltdown.

Fits and Starts on Health Care Slow Down Bill

WASHINGTON (AP) - Delays and disputes bogged down a Senate panel considering the details of remaking the nation's $2.5 trillion health care system.

Report: Health Care Costs to Rise 9 Pct in 2010

INDIANAPOLIS (AP) - Employers who offer health insurance coverage could see a 9 percent cost increase next year, and their workers may face an even bigger hit, according to a report from consulting firm PricewaterhouseCoopers.

Court Upholds Settlement in Asbestos Lawsuits

WASHINGTON (AP) - The Supreme Court on Thursday agreed to let an insurance company settle some asbestos lawsuits for about $500 million in exchange for blocking any future litigation resulting from its long relationship with Johns Manville Corp., once the world's largest producer of asbestos.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 78 307 21,073
MORTGAGES 82 330 24,691
FORECLOSURE NOTICES 66 93 8,703
BUILDING PERMITS 0 837 43,174
BANKRUPTCIES 63 240 14,142
BUSINESS LICENSES 17 75 6,476
UTILITY CONNECTIONS 25 139 13,650
MARRIAGE LICENSES 10 77 5,146

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