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VOL. 125 | NO. 164 | Tuesday, August 24, 2010

Schmitt Stepping Down as SVP of FedEx Solutions

After calling Memphis home for 12 years, FedEx executive Tom Schmitt is heading north to take a new job in Toronto as president and CEO of Purolator, Canada’s largest parcel transportation company.

Downtown Condo Market Hangs On

Cautiously optimistic. That would be a pretty accurate phrase to describe the mood of condominium brokers who sell primarily in Downtown Memphis.

Medtronic Spinal Sales Dip 9 Percent

Sales of spinal products for Medtronic Inc. decreased 9 percent during the last three months.

City Council Considers Latest on Union Avenue CVS

The Memphis City Council Tuesday takes up a proposed CVS drug store at Union Avenue and Cooper Street two weeks after adopting a Midtown zoning overlay that suggests a different kind of development for the area.

Luttrell Assembles Team

Luttrell had earlier announced Harvey Kennedy would be his chief administrative officer. Kennedy has been Luttrell’s CAO at the Sheriff’s department.

Local Weather
Memphis, TN
Mostly Cloudy
Wind: West at 6.9 mph
Humidity: 85%


Small Biz Memphis will host the Cordova/Bartlett and East Memphis/Midtown Business Builders Circle meetings Tuesday and Wednesday, respectively, from 7:45 a.m. to 9 a.m. at 1661 International Drive, suite 400. The Germantown/Collierville meeting will be Thursday at 7:45 a.m. at 2176 West St., suite 110. For more information, call 205-9303.

more events »

Ford Veto Stands At Last County Commission Meeting of Term

The last meeting for six Shelby County Commissioners came with proclamations, plaques and an agenda full of controversy.

‘KNO Tonite To Feature News, Local Programming

Now that WKNO has settled into its new 39,000-square-foot digital media center, the public broadcasting station is moving to the next item it’s long had on its to-do list.

Magic Kids Launch Album With Memphis Youth Symphony Fundraiser

When Alice Buchanan plays her violin with the Memphis Youth Symphony tonight at the Levitt Shell, it won’t be a nostalgic reunion.

Methodist Posts Real-Time Info on ER Wait

Methodist Le Bonheur Healthcare has put information at people’s fingertips about the wait times for emergency room service at its hospitals.

Corporations See Added Value in Volunteer Hours

The value of a corporate dollar may have seen some decreases in the last few years, but the value of a corporate hour – a volunteer hour that is – is going up.

DriveTime Car Sales Buys Former Bud Davis Dealership

2177 Covington Pike, Memphis, TN 38128, Sale Amount: $1.3 million -
DriveTime Car Sales Co. LLC has bought a 32,700-square-foot auto dealership and service center from First Tennessee Bank NA for $1.3 million. The dealership sits on 6.5 acres at the southwest corner of Covington Pike and Elmore Road.

Don’t Jump Ahead

Markets that oscillate and lack direction frustrate investors and advisers alike. Famed money manager Stan Druckenmiller joined several other recently retired longtime hedge fund vets citing stress and fatigue. His fund has only fallen 5 percent. The magnitude of the gains and losses this year may be slight, but not the effort required.


Memphis City Council Agenda

The Memphis City Council will meet today at 3:30 p.m. in the Council chambers in City Hall, 125 N. Main St. Click on the meeting icon for a full agenda.


First Horizon Board Member Simon Cooper Resigns

MEMPHIS (AP) – Regional bank First Horizon National Corp. said it has been notified that board member Simon Cooper plans to resign.


Professor Gets Nod as Fellow From Health Group

MEMPHIS (AP) – A professor at the University of Tennessee Health Science Center has been selected as a fellow of the American Health Information Management Association.


Hot Tennessee River Costs TVA Millions of Dollars

CHATTANOOGA, Tenn. (AP) — The Tennessee Valley Authority has cut power generation in half at its largest nuclear plant to avoid overheating the Tennessee River in Alabama, costing the utility millions of dollars.


AIG Repaying Nearly $4 Billion in Federal Loans

In its single biggest repayment of bailout loans so far, American International Group Inc. said Monday it is paying back nearly $4 billion in taxpayer aid with proceeds from a recent debt sale.

SunTrust Completes $750M Debt Purchase Offer

ATLANTA (AP)SunTrust Banks Inc. said Monday that investors agreed to tender nearly $948 million in debt in response to the company's offer to buy back a maximum $750 million.

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PROPERTY SALES 80 401 13,843
MORTGAGES 99 439 16,005
BUILDING PERMITS 233 998 28,755
BANKRUPTCIES 49 276 8,926

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