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VOL. 124 | NO. 106 | Tuesday, June 2, 2009

UPDATE: Herenton Defends Handling Of Rape Crisis Center

Memphis Mayor Willie Herenton told City Council members Tuesday afternoon that the Memphis Sexual Assault Resource Center (MSARC) will remain a part of city government and will not be transferred to Shelby County government as long as he is mayor.

Rape Center Management Tops Council Agenda

For the second time in two weeks, Memphis City Council members will discuss the management of the Memphis Sexual Assault Resource Center. The discussion is expected to dominate today’s council executive session at 1 p.m.

County Budget-Tax Rate Still A Work In Progress

Shelby County Commissioners still have lots of work to do on a county operating budget for the new fiscal year as well as setting a county property tax rate.

New York Flap Behind CSG Scrutiny

To understand the sudden scrutiny of Consulting Services Group, a description of recent events in New York is in order.

Compromise Anti-Discrimination Resolution Clears County Commission

After almost three hours of debate and comments from 58 citizens, the Shelby County Commission voted 9-4 Monday to promote a new anti-discrimination policy within county government.

Local Weather
Currently
Memphis, TN
81.0°F
Partly Cloudy
Wind: West at 13.8 mph
Humidity: 69%

EVENTS

The Dixon Gallery and Gardens will host Talks on the Terrace with Mike Berkley today from noon to 1:30 p.m. at the Dixon, 4339 Park Ave. Berkley is the co-owner of GroWild Inc. Cost is $15 for members and $25 for nonmembers. Reservations and pre-payment are required. For more information, call 761-5250.

more events »

Recent Media Coverage Puts Spotlight on CSG

Memphis-based Consulting Services Group, a major player in the pension consulting business, has been tied to the outer edges of the so-called “pay-to-play” pension consulting scandal unfolding in New York.

Bank Buys One Commerce For $20M

One Commerce Square at 40 S. Main St. sold Monday for $20 million on the Shelby County Courthouse steps.

Ramsey’s Entry Marks New Phase In Governor’s Race

FRANKLIN, Tenn. (AP) – State Senate Speaker Ron Ramsey’s entry Monday into the Tennessee governor’s race marks a new phase of an arduous – and expensive – Republican primary campaign.

FedEx Moving Workers Into $300M NC Hub

GREENSBORO, N.C. (AP)FedEx Corp. was beginning operations Monday at a new $300 million hub at Piedmont Triad International Airport, but the company had no immediate plans to expand the work force there because of concerns about the economy.

SunTrust to Raise $1.4B in Stock Offer

ATLANTA (AP)SunTrust Banks Inc. reported Monday it is raising $1.4 billion through a common stock offering as part of its plan to generate the cash necessary to meet a reserve requirement outlined by the government last month.

Service Employs Caretakers To Help Houses Sell

Homes in Memphis are averaging 115.6 days on the market, a number that has risen during the past couple of years as residential real estate has suffered a continuing slump.

Collier Lincoln Mercury Dealership Sold Back to Bank

2177 Covington Pike, Memphis, TN 38128, Sale Amount: $2.5 Million -
The car dealership at 2177 Covington Pike in Raleigh was sold back to the lender, First Tennessee Bank NA, May 22 on the Shelby County Courthouse steps in a substitute trustee’s sale. The bank reacquired the property, formerly home to Collier Lincoln Mercury, for $2.5 million.

Broker CB Richard Ellis Upgraded on Stock Price

NEW YORK (AP) - A Goldman Sachs analyst upgraded real estate broker CB Richard Ellis Group Inc. on Monday, saying that although he expects transactions to remain low until 2010 and continued pressure on earnings, the stock's price makes it more attractive.

GM Idling Tenn. Plant; It Could Get New Small Car

SPRING HILL, Tenn. (AP) - As one of 2,500 workers at the General Motors plant that will be idled at least temporarily in November, Michelle Burley has a suggestion for young car buyers: "Buy American and protect American jobs."

Geithner Says US Concerned About Deficits

BEIJING (AP) - As the federal budget deficit soars into the stratosphere, Treasury Secretary Timothy Geithner is reassuring the Chinese – the largest holders of U.S. government debt – that the Obama administration is serious about restoring fiscal discipline once the current economic crisis is resolved.

Judge OKs Sale of Most Chrysler Assets to Fiat

NEW YORK (AP) - A federal bankruptcy judge approved the sale of most of Chrysler LLC's assets to Italy's Fiat, moving the American automaker a step closer to its goal of a quick exit from court protection.

AP Source: DirecTV CEO in Talks to Join News Corp.

The chief executive of DirecTV Group Inc. is in talks to return to News Corp. to be Rupert Murdoch's second in command.

Falling Dollar, Surging Stocks Weigh on Treasurys

NEW YORK (AP) - Long-term bond yields climbed sharply on Monday as improving sentiment on the economy sapped demand for government debt.

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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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