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VOL. 126 | NO. 127 | Thursday, June 30, 2011

Consolidation Case Deadline Arrives

It’s been briefed several times over, unsuccessfully mediated three times and adorned with a fresh supply of depositions.

Social Running

Businesses find group events serve dual purposes

Some local businesses are attracting customers by hosting running groups, and seemingly, it’s a win for both sides with the venues getting more people coming through the doors and participants gaining much appreciated motivation in their quest to stay active.

Morgan Keegan Fraud Case Dismissed

Morgan Keegan & Co. Inc. has won the dismissal of a securities fraud case brought against it by the U.S. Securities and Exchange Commission in 2009.

Canada-Based Kruger Wins Tax Freeze

Canada-based manufacturer Kruger Inc. is still weighing several choices of locales where the company would like to pursue a major capital investment.

Pinnacle Increases Working Capital for Colgan

Memphis-based Pinnacle Airlines Corp. has made two moves designed to increase working capital of the Pinnacle subsidiary Colgan Air Inc.

Local Weather
Currently
Memphis, TN
75.0°F
Mostly Cloudy
Wind: Southeast at 5.8 mph
Humidity: 48%

EVENTS

The Madison Hotel will continue its Sunset Atop the Madison series Thursday, June 30, at 5:30 p.m. at the hotel, 79 Madison Ave. Preston Shannon will perform, and the evening will include drinks and a special menu. Admission is $7. For more information, call 333-1200.

more events »

Medtronic Responds to Spine Journal Report

Medtronic Inc. has responded to a series of articles published in Spine Journal claiming surgeons on the company’s payroll failed to disclose complications that arose during clinical trials of a bone-growth protein. Minneapolis-based Medtronic’s Spinal and Biologics Business is in Memphis.

Former Pitt Mayor Discusses Infrastructure Challenges

Former Pittsburgh Mayor Tom Murphy drove to Memphis Tuesday, June 28, from Nashville to speak at an Urban Land Institute program on infrastructure held at the University of Memphis.

TDN Takes 12 Green Eyeshade Awards

The Daily News won 12 awards in 10 categories during the 2011 Green Eyeshade Excellence in Journalism Awards, including three first-place finishes. Held by the Atlanta chapter of the Society of Professional Journalists, the 61st annual Green Eyeshade contest recognizes outstanding journalism produced in an 11-state Southern region.

Paired Transplants Make Local Debut

Tennessee’s first-ever paired kidney transplants, which involve living donors matched with patients through a national registry, were performed this week in Memphis by surgeons at Methodist University Hospital, 1265 Union Ave.

Biggs Erases Stumbling Blocks for Companies

Before Lodie Biggs ever stepped foot into law school, he was coached on business ethics from his Depression-era grandfather.

LOCAL COLUMNISTS

Declare Your Independence from Debt Now

Ray’s Take: Where American patriots fought for independence, today’s Americans are often indentured servants to the tyranny of crippling debt for most of their lives. Don’t think it’s too late for you to make a change. Make a stand for your freedom starting today and make a plan to throw off the shackles of debt forever.

More on Hot Coffee

A couple weeks back, I mentioned the film “Hot Coffee,” a documentary centered around the infamous 1994 McDonald’s case.

STATEWIDE

Univ of Tenn Studying Wrongful Conviction Project

KNOXVILLE (AP) – The University of Tennessee School of Journalism and Electronic Media is exploring the possibility of starting an innocence/wrongful conviction project.

New Guideline for Getting Help Paying Energy Bill

NASHVILLE (AP) – Individuals who have received help from the Low-Income Home Energy Assistance Program since last July must wait until Oct. 1 to reapply for benefits.

TDOT Head Touring Construction Projects

NASHVILLE (AP) – Tennessee Department of Transportation Commissioner John Schroer is making week-long tours of major construction projects across the state.

NATIONAL BUSINESS

Unemployment Rises in More Than Half of US Metros

WASHINGTON (AP) – Unemployment rates rose last month in more than half of the nation's largest metro areas, driven higher by weak private-sector hiring and natural disasters.

NATIONAL POLITICS

Geithner Calls GOP Debt Limit Plan 'Irresponsible'

WASHINGTON (AP) – Treasury Secretary Timothy Geithner is strongly criticizing a Republican proposal that would prioritize interest payments on the nation's debt and cut spending rather than raise the borrowing limit.

'Get it Done,' Obama Challenges GOP on Debt Talks

WASHINGTON (AP) – In a blunt challenge to Republicans in Congress, President Barack Obama insisted Wednesday that elimination of selected tax breaks for oil companies and the super-wealthy must be included in any deficit reduction plan.

Fed Sets 21 Cent-Cap on Retailer Debit Swipe Fees

WASHINGTON (AP) – The Federal Reserve is poised to limit the fees that banks can charge retailers for swiping debit cards to 21 cents, a higher cap than initially proposed.

Senators Concerned by Photo ID Requirement to Vote

WASHINGTON (AP) – Sixteen Democratic senators want the Justice Department to look into whether voting rights are being jeopardized in states that require photo identification in order for people to vote.

Obama Reaps Victory as Judges Uphold Health Law

CINCINNATI (AP) – In the first ruling by a federal appeals court on President Barack Obama's health care overhaul, a panel in Cincinnati handed the administration a victory Wednesday by agreeing that the government can require a minimum amount of insurance for Americans.

REAL ESTATE

Contracts to Buy Homes Rose Sharply in May

WASHINGTON (AP) – The number of people who signed contracts to buy homes rose sharply in May. But the influx of spring buyers wasn't enough to signal a rebound in the struggling housing market.

Bank of America in $8.5B Mortgage Settlement

NEW YORK (AP) – Bank of America and its Countrywide unit will pay $8.5 billion to settle claims that the lenders sold poor-quality mortgage-backed securities that went sour when the housing market collapsed.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 31 327 17,870
MORTGAGES 49 409 20,835
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 129 800 36,616
BANKRUPTCIES 51 243 11,925
BUSINESS LICENSES 21 117 5,677
UTILITY CONNECTIONS 0 175 12,208
MARRIAGE LICENSES 29 121 4,478

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