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VOL. 125 | NO. 144 | Tuesday, July 27, 2010

Trust One Taps New CEO; Metropolitan BancGroup Completes Equity Raise

Memphis-based Trust One Bank, part of Synovus Financial Corp., has tapped a Georgia banker and Memphis native as its new president and CEO.

The Rise of Redbox

Rental kiosks, Internet services change movie landscape

Redbox, which is reshaping the U.S. video market with its massive horde of DVD kiosks and $1-per-day price strategy, is going on a tear in Memphis.

Morgan Keegan $200M Charge Leads to Region's Q2 Loss

One of the drivers of Regions Financial Corp.’s second quarter loss of $277 million announced Tuesday was a $200 million charge recorded by its Memphis-based investment banking subsidiary.

FedEx Restores 401(k) Matches

The 31,000 Memphis employees of FedEx Corp. can feel better about the future because the company said Monday that it expected better earnings and would start matching their retirement savings again.

Deputies Win Extra One Percent Pay Raise

The Shelby County Commission Monday approved an extra one percent pay raise for Shelby County Sheriff’s Deputies.

Local Weather
Currently
Memphis, TN
33.0°F
Fair
Wind: Southwest at 5.8 mph
Humidity: 48%

EVENTS

Baker, Donelson, Bearman, Caldwell & Berkowitz PC will hold the Baker Donelson Emerging Company Boot Camp Breakfast Briefing Tuesday from 7:30 a.m. to 9 a.m. at its Downtown office, 165 Madison Ave. The title of the brief is “What It Means to Be the Boss.” The event is free but seating is limited. To register, contact Brittany Meeker at 577-2275 or bmeeker@donelson.com.

more events »

Charter Commission Recommends 25 Member Metro Council

Metro charter commissioners have settled on a 25 member metro council with four multi member districts.

Luncheon to Focus on Q2 Market Trends

Although it’s too early to say for certain, the second quarter of 2010 might go down as a turning point for the housing market.

Ford Jr. Takes Readers Behind the Scenes With New Book

Former Memphis Congressman Harold Ford Jr. made it clear last week that he’s a former Memphian.

Urban Child Data Show Steep Rise in Teen Births

The birth rate for teenage mothers in Shelby County rose 41 percent among blacks and 17 percent among whites from 2007 to 2008. The rate sharply increased compared to prior years.

Boyle Investment Files Loan on Ridgeway Center Office Building

889 Ridge Lake Boulevard, Memphis, TN 38120, Loan Amount: $6.9 Million -
Boyle Investment Co. has filed a $6.9 million deed of trust, security agreement, absolute assignment of leases and rents and fixture filing on the office building it owns at 889 Ridge Lake Boulevard in East Memphis.

After the Returns: Fog Lifter

Now that a third of the second-quarter earnings season has passed we can make informed generalizations.

STATEWIDE

Va Court Reverses TVA Emissions Ruling

RICHMOND, Va. (AP) — A federal appeals court in Virginia has reversed a judge's ruling requiring prompt installation of upgraded emission controls at three coal-fired power plants in Tennessee and one in Alabama.

REGIONAL

Barbour Says He'll Sue to Block Tribe's Casino

JACKSON, Miss. (AP) — Mississippi Gov. Haley Barbour says he's pursuing legal action to block a gaming development proposed by the Mississippi Band of Choctaw Indians.

Keet Calls for Selling Ark. State Police Plane

LITTLE ROCK, Ark. (AP) — Republican gubernatorial candidate Jim Keet is calling for Arkansas to sell the airplane the governor uses to travel on official business.

NATIONAL BUSINESS

Nissan Recalls 51,100 Hatchbacks Over Fuel Spills

WASHINGTON (AP) — Nissan is recalling 51,100 of its Cube hatchbacks in the United States and Canada because of possible problems with fuel spilling during rear end collisions.

Allen: BP Well-Killing Process Starts in a Week

NEW ORLEANS (AP) — The government's oil spill chief says workers expect to begin the two-step process of finally killing BP's blown-out well in a week.

NATIONAL POLITICS

Obama Calls on Senate to Pass Campaign Bill

WASHINGTON (AP) — President Barack Obama is imploring Republican senators to allow a vote on new campaign finance disclosure requirements, warning them not to resort to political delaying tactics that would block the legislation.

Pelosi, McConnell Give Different Views on Stimulus

LOUISVILLE, Ky. (AP) — Democratic House Speaker Nancy Pelosi on Monday urged state lawmakers to lobby for House-passed initiatives endangered in the Senate, while Senate GOP leader Mitch McConnell complained congressional Democrats were out of touch with voters.

REAL ESTATE

New Home Sales Up, but Sales Remain Slow

WASHINGTON (AP) – Sales of new homes jumped last month, but it was the second-weakest month on record. The lackluster economy has made potential buyers skittish about shopping for homes.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 90 90 890
MORTGAGES 131 131 1,083
FORECLOSURE NOTICES 24 51 146
BUILDING PERMITS 187 319 1,524
BANKRUPTCIES 38 85 576
BUSINESS LICENSES 0 74 240
UTILITY CONNECTIONS 27 28 365
MARRIAGE LICENSES 0 0 82

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