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VOL. 124 | NO. 161 | Tuesday, August 18, 2009

UPDATE: Consolidation Charter Commission Plan Surfaces

In a summer of political surprise and controversy, one of the local area's most volatile and enduring concepts is about to surface again.

CCC Loan Program Attracts More Applicants

To bounce back from a more than 30 percent slide in sales from 2007 to 2008, Jeff Johnson has several changes in the works for Sauces, the Downtown restaurant he’s owned since last year.

Kelsey Frontrunner After Rivals Quit Race For Stanley’s Seat

State Rep. Brian Kelsey appears to be the last man standing among the candidates who have lined up to replace former State Sen. Paul Stanley, who resigned this month in the wake of an intern sex scandal.

Roebuck’s Lease-Auction Program Takes Hold

Robert “Bob” Shively of Roebuck Auctions thought he had a good idea when he formed “Lease for Auction,” the company’s new program that allows bidders to make offers on commercial space to lease rather than buy, as is the traditional auction format.

Think Tank Event Returning to Memphis

Professors with academic expertise and community organizers with street knowledge will combine forces to find solutions for the problems faced by young black men when The Think Tank for African American Progress returns to Memphis this fall.

Local Weather
Currently
Memphis, TN
84.0°F
Partly Cloudy
Wind: Southwest at 12.7 mph
Humidity: 63%

EVENTS

The Greater Memphis Chamber will present the third breakfast meeting in its Human Health Series today from 7:30 a.m. to 9 a.m. at The Crescent Club, 6075 Poplar Ave. The meeting is free to members and prospective members. For reservations, contact Ericka Milford at emilford@memphischamber.com or 543-3518.

more events »

Wharton, Carpenter Keep Eyes On the Prize

Former Memphis Mayor Willie Herenton may still be pondering another political crossroads.

Troubled Frayser Apartment Complexes Land New Owner

3081 St. Charles Drive, and 931 Frayser Blvd., Memphis, TN 38127 -
The bank that bought the Whitney Manor and Frayser Manor apartment complexes in Frayser out of foreclosure has sold the properties to a Connecticut-based entity called Group 40 LLC. The $2.2 million sale closed in late July.

Medtronic Spent Over $1M Lobbying Gov't in Q2

WASHINGTON (AP) - Medtronic Inc., the world's largest medical device maker, spent more than $1 million lobbying Congress in the second quarter, according to a recent disclosure form.

Rochdale Analyst Upgrades Wal-Mart to 'Buy'

NEW YORK (AP) - An analyst upgraded shares of Wal-Mart Stores Inc. on Monday and said the world's largest retailer is benefiting as consumers trade down to cheaper products and the U.S. dollar eases.

Fed Extends Consumer Lending Program through March

WASHINGTON (AP) – The Federal Reserve has extended a program intended to spur lending to U.S. consumers and small businesses at lower rates, but the central bank will not expand the types of loans made.

AP Analysis: Banks Added 10,000 Branches in Boom

DALLAS (AP) - Banks expanded at a breathtaking pace over the past five years, adding more than 10,000 full-service branches, but barely 1 in 10 were in inner-city, minority neighborhoods, another sign the financial spending spree skipped over substantial parts of the country.

Homebuilder Sentiment Index Rises in August

NEW YORK (AP) - The National Association of Home Builders said Monday its housing market index rose in August to the highest point in more than a year, as homebuyers hurried to take advantage of a federal tax credit before it expires.

Foreign Demand for Long-Term US Securities Rises

WASHINGTON (AP) - Foreign demand for long-term U.S. financial assets rebounded in June even though China and Russia trimmed their holdings.

US State Rejects Madoff Settlement Offer

BOSTON (AP) - Massachusetts Secretary of State William Galvin's office has rejected a proposed settlement by an investment firm to repay nearly $6 million to state investors who lost money in Bernard Madoff's fraudulent investment scheme.

CIT Group Wraps Debt Purchase, Dodges Bankruptcy

NEW YORK (AP) - Commercial lender CIT Group Inc. said Monday its offer to repurchase outstanding debt at a discount – a crucial step to help stave off bankruptcy – was successful.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 105 105 9,674
MORTGAGES 82 82 11,396
FORECLOSURE NOTICES 17 17 1,651
BUILDING PERMITS 134 134 20,444
BANKRUPTCIES 58 58 6,495
BUSINESS LICENSES 27 27 3,473
UTILITY CONNECTIONS 48 48 4,031
MARRIAGE LICENSES 32 32 2,211

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