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VOL. 124 | NO. 134 | Friday, July 10, 2009

Contemporary Media Landlord Foreclosed

Memphis Flyer, Memphis Magazine parent not involved in ownership

The mixed-use building at 460 Tennessee St. in the South Main Historic Arts District has been foreclosed and will be sold on the Shelby County Courthouse steps, according to a notice that appears on Page 29 of today’s print edition of The Daily News and also at The Daily News Online, www.memphisdailynews.com.

Victorian Village Restaurant Seeks CCDC’s Aid

Memphis restaurateur Karen Blockman Carrier has applied for a $50,000 retail forgivable loan from the Center City Development Corp. in an effort to revive Mollie Fontaine Lounge, the restaurant she runs out of an historic Victorian Village home.

New Rules Improve Olive Branch Hospital’s Chances

Methodist Healthcare again will ask permission from Mississippi to build a hospital in Olive Branch – something it has been trying to do since around 2000 – but this time the state will likely say yes.

Building Permit Activity Abysmal in June

Home permits continued to slide in June, reaching their lowest monthly mark in years as the demand for new housing remained soft and the building industry remained focused on sales.

Volunteering a Rewarding Hobby for Peabody

Eric Peabody began volunteering as a way to meet people when he moved to Memphis two years ago. He hasn’t been able to stop.

Local Weather
Memphis, TN
Wind: Calm mph
Humidity: 61%


MPACT Memphis will meet for a Lunch Bunch today at noon at On the River, 51 S. Main St. To R.S.V.P., contact Joy Turner at memberconnections@mpactmemphis.org or 528-8340.

more events »

Norfolk Southern Set to Announce Fayette County Yard Site

Norfolk Southern Corp. will end months of speculation Thursday by announcing the site of its new Fayette County intermodal facility.

Guilty Plea in Ponzi Scheme

ATLANTA (AP) - A former attorney has pleaded guilty in a real estate investment fraud scheme that authorities say took in more than a dozen victims in Georgia, Florida and Tennessee.

Wal-Mart in Final Settlement of $17.5M Bias Suit

LITTLE ROCK, Ark. (AP) - A federal judge has given final approval to a $17.5 million settlement reached after black truck drivers sued retail giant Wal-Mart Stores Inc.

Feds Want Cash, Plane in Contraband Cigarette Case

JACKSON, Miss. (AP) - Federal authorities want to take $1.89 million and an airplane allegedly used in a multimillion dollar scheme to sell contraband cigarettes in the Southeast.

Commercial Real Estate Woes Grow

WASHINGTON (AP) – Owners of shopping malls, hotels and offices are defaulting on their loans at an alarming rate, and the commercial real estate market is not expected to hit bottom for three more years, industry experts warned Thursday.

New Jobless Claims Hit Lowest Level Since January

WASHINGTON (AP) – The number of newly laid-off workers filing initial claims for jobless benefits last week fell to the lowest level since early January, largely due to changes in the timing of auto industry layoffs.

Study: Sotomayor Tough on White-Collar Criminals

WASHINGTON (AP) - High court nominee Sonia Sotomayor typically handed out tougher prison sentences than her colleagues in the federal courthouse in Manhattan, especially to white-collar criminals, a new study says.

House Dems Look at Taxing the Rich for Health Care

WASHINGTON (AP) - House Democrats at work on health legislation are narrowing in on an income tax surcharge on the highest-paid wage earners to help pay the cost of subsidizing insurance for the 50 million who lack it.

Citigroup Shuffles Executives, Former CFO Leaving

NEW YORK (AP) - Citigroup Inc. shuffled its top management again Thursday, naming its third chief financial officer of the year and bringing in a new head of its Citibank division as it returns its focus to traditional banking.

GM Sale Cleared, Path Opens to Exit Chapter 11

DETROIT (AP) - The path is now clear for General Motors Corp. to leave bankruptcy protection in record time as a leaner company that is better equipped to compete in a brutal global auto market.

Merck, Portola in $470M Deal for Anticlotting Drug

TRENTON, N.J. (AP) - Merck & Co. and Portola Pharmaceuticals Inc. said Thursday they have signed an exclusive deal to develop and market an experimental drug to prevent strokes in people with a dangerous irregular heart rhythm.

Fall Swine Flu: Obama Urges Vigilance, Not Panic

WASHINGTON (AP) - U.S. swine flu vaccinations could begin in October with children at schools among the first in line, the Obama administration said Thursday as the president and his Cabinet urged states to figure out now how they'll tackle the virus' all-but-certain resurgence.

Poll: Would-Be Homebuyers Cautious as Layoffs Rise

WASHINGTON (AP) - More than half of potential homebuyers say they're still not prepared to jump into the market, and fear of losing their jobs is the No. 1 reason, a new poll shows.

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PROPERTY SALES 90 140 15,764
MORTGAGES 100 162 18,210
BUILDING PERMITS 194 315 32,829
BANKRUPTCIES 57 116 10,129

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