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VOL. 125 | NO. 134 | Tuesday, July 13, 2010

Obama Backs Cohen in Congressional Race

President Barack Obama is backing U.S. Rep. Steve Cohen, D-Memphis, in the 9th Congressional District Democratic primary between Cohen and former Memphis Mayor Willie Herenton.

Back on the Air

Historic KWEM returns to airwaves

After being silent and nearly forgotten for more than 50 years, the radio station that helped launch the careers of such music pioneers as B.B. King, Johnny Cash, Howlin’ Wolf, Ike Turner, Carl Perkins, Albert King – and even Elvis Presley – is back.

Low Rates Spark Mortgage Activity

Mortgage rates that have fallen to the lowest levels on record are bringing with them a sound loan officers in Memphis no doubt like to hear – the incessant ring of the telephone.

Freedom Awards to Honor Three Women

The National Civil Rights Museum will honor three women in October at its annual Freedom Awards ceremony.

Development Partners Reunite on Midtown Project

Community Capital and Architecture Inc. have teamed up again, this time to build Community Capital’s new headquarters at 1708 Monroe Ave. between South Belvedere Boulevard and South Evergreen Street.

Lux to Reopen in New Cooper-Young Locale

Lux owner Tadd Feazell is reopening his clothing store right after ending a going-out-of-business sale.

Ohio-Based Company Buys Land Slated for Strayer University Campus

7275 Appling Farms Parkway, Memphis, TN 38133, Sale Amount: $603,788 -
Testa Cos. has closed on the land in Appling Farms Business Park where it will build a campus for Strayer University.

Slow Growth, Not Double Dip, On Horizon

Equity markets gathered their composure last week with the S&P 500 advancing over 5 percent.

REGIONAL

Analysis: Fundraising Questions for Down Races

Competitive races for governor and lieutenant governor in Mississippi in 2011 could be expected to impact fundraising by down ballot statewide candidates.

Ark Ed Board Adopts New Standards

LITTLE ROCK, Ark. (AP) — The Arkansas Education Board has agreed to adopt a new set of standards for teaching English and math to help students to measure up in the global economy.

NATIONAL BUSINESS

Fed Looks for Ways to Aid Small Business Lending

WASHINGTON (AP) — Federal Reserve Chairman Ben Bernanke stepped up pressure on Monday to get banks to boost lending to the nation’s small businesses, a critical element to spurring the economic recovery and reducing unemployment.

FDIC's Authority to Review Banks Expands

WASHINGTON (AP) — Federal bank regulators have agreed to give the Federal Deposit Insurance Corp. unlimited authority to investigate banks, clarifying the agency's power that was in question during the financial crisis.

Treasury: 4.5M Hires Qualify for New Tax Break

WASHINGTON (AP) — Businesses have added 4.5 million workers under a new program that provides tax breaks for hiring unemployed workers, the Treasury Department said Monday. It is unclear, however, how many of those workers would have been added without the tax break.

Brown Says He Will Vote for Regulation Overhaul

WASHINGTON (AP) – Republican Sen. Scott Brown of Massachusetts helped move sweeping financial legislation closer to passage Monday, announcing that after some misgivings he will support the regulatory overhaul after all.

BP Fund Official: No Need for Individuals to Sue

PENSACOLA BEACH, Fla. (AP) — The head of the $20 billion Gulf oil spill compensation fund urged individuals and businesspeople not to sue BP — at least not yet — and said emergency payments would soon be increased.

NATIONAL POLITICS

Gingrich Says He's Considering Presidential Run

DES MOINES, Iowa (AP) — Former U.S. House Speaker Newt Gingrich said Monday he's seriously considering seeking the Republican presidential nomination and will announce his decision early next year.

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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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