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VOL. 123 | NO. 142 | Tuesday, July 22, 2008

Business License Filings Dip in Q2

The average price of gas in the Memphis area lingers very close to the $4 mark. The average price of milk is much more than that at about $4.50 a gallon.

Crye-Leike Office Closings Shine Light On Poor Market

For the first time in its 31-year history, Crye-Leike Realtors has shuttered branches without plans to replace them, proof the housing crisis is gaining strength as real estate companies shrink their footprints to reduce overhead and cope with the downturn.

Cooper Offers Reward to Prove Jury Tampering

Former Shelby County Board of Commissioners member Joe Cooper is offering a $10,000 cash reward to anyone who comes forward with knowledge that can prove jury tampering in the corruption trial of former Memphis City Council member Edmund Ford Sr.

Daily News Wins TPA, SPJ Awards

Several Daily News reporters and designers were honored Friday and Saturday, placing in the Tennessee Press Association awards as well as the Society of Professional Journalists’ regional Green Eyeshade Awards.

Lee Seeks Legal Fees From MLGW

Memphis Light, Gas and Water Division is being asked to pay several hundred thousand dollars for about 18 months of legal work centered around the now-aborted federal prosecution of Joseph Lee, the company’s former president and CEO.

Local Weather
Currently
Memphis, TN
72.0°F
Mostly Cloudy
Wind: from the South at 17.3 gusting to 27.6 mph
Humidity: 57%

EVENTS

The National Black MBA Association will host the “Entrepreneur Edge Workshop” today from 6 p.m. to 7:30 p.m. at The Racquet Club of Memphis, 5111 Sanderlin Ave. The event is free for members and nonmembers. For more information, visit www.nbmbaamemphis.org.

more events »

Economists Expect Anemic Second-Half Growth

WASHINGTON (AP) – Call it the big fizzle. The hoped-for second-half economic rebound is looking to be lethargic, with the country straining under high energy prices and fallout from the housing and credit debacles.

Reality Trumps Ideology In Fannie-Freddie Rescue

WASHINGTON (AP) – Odd alliances are at work as President Bush and congressional Democrats band together to save Fannie Mae and Freddie Mac.

Penn Specialty Chemicals Sells Assets to PennAkem

3324 Chelsea Ave., Memphis, TN 38108, Sale Amount: $1.5 Million -
Memphis-based Penn Specialty Chemicals has been acquired by PennAkem, a wholly owned subsidiary of the French company Minakem Group.

Tenn. Trying to Boost Enrollment in CoverKids

NASHVILLE (AP) - The state will be sending out 1.5 million flyers to public school students to boost enrollment in the state's health insurance program for low-income families.

BofA Q2 Profit Shrinks, Beats Wall Street Expectations

CHARLOTTE, N.C. (AP) - Bank of America Corp. has become the latest in a string of big banks whose second-quarter earnings, while hurting from the impact of the credit crisis, still managed to beat Wall Street expectations.

Fed Chairman Bernanke's Finances are No-Frills

WASHINGTON (AP) - Engulfed by economic and financial turbulence, Federal Reserve Chairman Ben Bernanke has taken extraordinary steps to ease the nation's problems. His own finances are a bit more straightforward.

In Tight Times, Shunning Materialism Saves Money

NEW YORK - Give up worldly goods and help save the Earth.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 344 19,573
MORTGAGES 110 422 22,914
FORECLOSURE NOTICES 0 8,303 8,303
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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The Memphis News: Business, politics, and the public interest.