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VOL. 124 | NO. 149 | Friday, July 31, 2009

UPDATE: Lowery Promises 'New Day' for Memphis

Fires City Attorney

Memphis Mayor Myron Lowery fired City Attorney Elbert Jefferson on his first day in office, apparently during a meeting in a City Hall stairwell.

Day After Tornado Means Recovery Efforts In Wolfchase Area

There were no deaths or injuries reported from the storms that raked Memphis early Thursday evening. But the commercial strip of Germantown Parkway as well as some residential areas near the Wolfchase Galleria were the hardest hit areas in the city.

GOP Governor Contenders Highlight Differences

Bill Gibbons, Ron Ramsey and Bill Haslam agree that one of them will be the next governor. When they are with Zach Wamp, he’s included.

Lowery Takes Office After Stormy Herenton Exit

Myron Lowery becomes mayor of Memphis today in the aftermath of a literal storm and the political storm that was the 18 year administration of Willie Herenton.

Herenton Prepares For Next Political Chapter

Retirement may be upon him, but he won’t be spending hours at the golf course, adding Hawaiian shirts to his wardrobe or hitting the road for long delayed vacations.

Local Weather
Currently
Memphis, TN
59.0°F
Overcast
Wind: Southwest at 6.9 mph
Humidity: 46%

EVENTS

The Memphis Bar Association will hold a continuing legal education seminar today from noon to 1 p.m. at 200 Jefferson Ave., sixth floor. Judges David Kennedy, Jennie Latta, George Emerson and Paulette Delk will speak about reaffirmation agreements. To register, visit www.memphisbar.org/cle.

more events »

Court Reverses Police Captain Rank Decision

A Tennessee Court of Appeals decision issued this week appears to reopen the 2005 decision by the Memphis Police Department’s brass to abolish the rank of 30-year captain.

Medical Practitioners Seek Tort Reform In Legislation

Measures to control malpractice costs have not emerged as a priority in the health care reform legislation moving through Congress, but it’s still at the top of the list for physicians and other providers.

International Paper Earnings Fall, Says Worst of Global Slowdown Over

International Paper Co. on Thursday reported a 40 percent drop in second-quarter profit but said the worst of the global economic slowdown appears to be over and that demand is steadying.

On the Call: IP Stands by Russian Pulp Venture

Memphis-based International Paper Co. is the top North American producer of cardboard box parts. It produces pulp, a raw material for paper and packaging products, through its Ilim joint venture in Russia. The two-year old pulp production venture has been losing money. International Paper said that in the second quarter its share of Ilim's losses came to $30 million.

Probe of NE Miss. Mueller Plant Explosion Begins

JACKSON, Miss. (AP) - Federal investigators were gathering information Thursday, one day after an explosion killed a man and injured three others at copper tubing plant in northeast Mississippi.

Tenn. Students Borrowing to Pay For-Profit Colleges

NASHVILLE, Tenn. (AP) - A recent report from the Tennessee Independent Colleges and Schools Association finds almost 90 percent of students at for-profit colleges and universities are borrowing money for their educations.

Jobless Claims Show Downward Trend in Hopeful Sign

WASHINGTON (AP) – The number of newly laid-off workers filing first-time claims for jobless benefits rose last week, the government said, though the increase was mostly due to seasonal distortions.

Citigroup Sells Stake in Japanese Asset Manager

NEW YORK (AP) - Citigroup Inc. said Thursday it is selling its entire majority stake in a Japanese asset management company to The Sumitomo Trust and Banking Co Ltd. for about $795 million.

House Panel Goes Back to Work on Health Care

WASHINGTON (AP) - The Senate's top Republican accused Democrats of cutting Medicare to finance a "massive new government-run" health care plan, as the last of three House committees pushed its way through a compromise version of the health care overhaul Thursday.

Kellogg Profit Rises 13 Percent in Q2

PORTLAND, Ore. (AP) - Kellogg Co. helped raise the mood on Wall Street Thursday, reporting second-quarter profits that beat expectations and saying it expects full year results at the high end of its goal.

US House Rejects Most Obama Weapons Cuts

WASHINGTON (AP) - The Democratic-controlled House of Representatives went along with U.S. Defense Secretary Robert Gates' plans to kill the over-budget F-22 fighter jet but has rejected his efforts to cut off several other big ticket items.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 73 155 19,728
MORTGAGES 95 170 23,084
FORECLOSURE NOTICES 12 19 8,323
BUILDING PERMITS 200 338 40,366
BANKRUPTCIES 50 122 13,226
BUSINESS LICENSES 14 23 6,160
UTILITY CONNECTIONS 33 85 13,080
MARRIAGE LICENSES 28 58 4,900

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