VOL. 124 | NO. 142 | Wednesday, July 22, 2009
Election Commission Sets Tentative Oct. 27 Election Date
Memphis Mayor Willie Herenton has again raised the possibility that he might not leave office on July 30. That possibility comes the same week that Herenton wondered aloud why reporters doubted that he would leave next week.
The TBI is investigating an alleged attempt to extort $10,000 from state Sen. Paul Stanley, of Germantown.
Two regulatory bodies took enforcement action against Memphis-based Morgan Keegan & Co. Inc. Tuesday morning.
The probe of corruption at the Shelby County Clerk’s office moved into federal court Tuesday afternoon as four people pleaded guilty to federal charges.
Although Norfolk Southern Corp.’s planned $129 million intermodal yard won’t be built within the city limits but instead in neighboring Rossville, Memphis’ logistics and distribution industries stand to benefit from the railroad’s decision to expand its local presence.
The U.S. Department of Justice wants a federal judge in Texas to put the brakes on the first stages of a civil fraud case filed in February against Texas financier R. Allen Stanford and several former subordinates.
When Memphis police arrived to close Hughes Uptown this past weekend, the North Memphis nightspot’s security guards bailed out of their golf cart and left behind two handguns – a .45 caliber and a .40 caliber semi automatic pistol.
Al Bell has been elected the new chairman of the Memphis Music Foundation.
BIRMINGHAM, Ala. (AP) – Regions Financial Corp., parent company of Memphis-based Morgan Keegan & Co. Inc., reported Tuesday it recorded a loss during the second quarter as it nearly tripled its provision for loan losses – a problem nearly all banks are facing amid the ongoing recession.
ATLANTA (AP) - UPS Inc., the world's largest shipping carrier, is scheduled to report second-quarter results on Thursday. The following is a summary of key developments and analyst opinion related to the period.
Caterpillar Inc.'s second-quarter profit tumbled on slumping sales of heavy equipment and the cost of staff cuts, but it saw signs that the global economy is starting to stabilize after a prolonged slide.
WASHINGTON (AP) - As Congress spent much of the last three months looking at ways to tighten regulations on financial institutions, some of the biggest recipients of the government's $700 billion bailout increased their spending on influencing legislators.
NEW YORK (AP) - CIT Group Inc. said in a regulatory filing Tuesday that it might have to file for bankruptcy protection if not enough bondholders participate in a recently launched debt exchange.
WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke ran into skepticism Tuesday from lawmakers wary of expanding the Fed's duties to police big financial companies. They argued that the Fed failed to spot problems that led to the financial crisis in the first place.
WASHINGTON (AP) - The drug industry's trade group and one of the nation's biggest pharmaceutical companies reported spending more money than other health care organizations on lobbying in the second quarter of this year.
WASHINGTON (AP) - Two senior congressional Democrats are calling on the U.S. Treasury Department to make the $700 financial bailout program more visible and accountable to taxpayers.
SAN FRANCISCO (AP) - McClatchy Co.'s second-quarter profit more than doubled as a cost-costing spree that wiped out one-third of the newspaper publisher's staff offset the loss of more advertisers and subscribers.