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VOL. 123 | NO. 139 | Thursday, July 17, 2008

Most Press Shut Out of MCS Hearing Thursday

A Chancery Court hearing on the Memphis City Schools’ lawsuit against the city of Memphis began Thursday morning with most of the press not allowed into the courtroom.

Q2 Foreclosure Rate Creeps Upward

U.S. Sen. Lamar Alexander, R-Tenn., joined more than 80 U.S. senators last week in writing a prescription for the housing market, a sector of the economy that’s been under the weather for several months now.

Bogatin Well-Liked In Law Community

The Memphis law community recently lost one of its most well-known and well-liked lawyers.

Ruling Could Send MCS, City Back To Drawing Board

Even if Shelby County Chancery Court Chancellor Kenny Armstrong sides with Memphis City Schools in his expected ruling today that’s part of the city school district’s funding lawsuit, school officials might not be able to rejoice just yet.

Consumer Prices Jump in June

WASHINGTON (AP) – Consumer prices shot up in June at the second fastest pace in 26 years with two-thirds of the surge blamed on soaring energy prices.

Local Weather
Currently
Memphis, TN
76.0°F
Fair
Wind: South at 6.9 mph
Humidity: 88%

EVENTS

The Shelby County Beer Board will meet today at 2 p.m. in the fourth floor conference room of the Shelby County Administration Building, 160 N. Main St. For more information, call Stephanie Jones at 545-4301.

more events »

Fannie, Freddie In No Danger of Failing, Bernanke Says

WASHINGTON (AP) – Federal Reserve Chairman Ben Bernanke told Congress Wednesday that troubled mortgage giants Fannie Mae and Freddie Mac are in “no danger of failing.”

Walker Advocates for Litigants In Juvenile Court Position

David Walker is the supervising attorney for the Juvenile Court of Memphis and Shelby County’s Advocate for Non-Custodial Parents Program, a free service that helps litigants with various juvenile-related matters.

Ford's Wife Gives to Cohen's Challenger in Memphis

NASHVILLE (AP) - Former Rep. Harold Ford Jr.'s new bride is lending her financial support to the primary challenger of the Democrat who succeeded her husband in Congress.

Last Call: International Paper Rises on Upgrade

NEW YORK (AP) - Shares of International Paper Co. jumped Wednesday after an analyst upgraded its shares because improving profit margins are boosting its cash flow.

FBI Looking Into IndyMac Bancorp.

WASHINGTON (AP) - The FBI is investigating failed bank IndyMac Bancorp Inc. for possible fraud, an official said Wednesday of the government's latest target following the collapse of the nation's subprime mortgage market.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 77 435 9,569
MORTGAGES 104 511 11,314
FORECLOSURE NOTICES 3 77 1,634
BUILDING PERMITS 196 1,045 20,310
BANKRUPTCIES 44 275 6,437
BUSINESS LICENSES 21 134 3,446
UTILITY CONNECTIONS 33 170 3,983
MARRIAGE LICENSES 30 115 2,179

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The Memphis News: Business, politics, and the public interest.