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VOL. 124 | NO. 153 | Thursday, August 6, 2009

UPDATE: Jefferson Denies Access To Info On Probe To Lowery

Lowery Accuses Halbert of "A Personal Attack"

City Attorney Elbert Jefferson has refused to turn over any paperwork to Mayor Pro Tempore Myron Lowery on what he claims is an “ethics investigation” he is conducting of Lowery.

City Attorney Standoff Changes Little With Court Ruling

Chancellor Walter Evans has ruled Memphis Mayor Myron Lowery did nothing wrong in his move to fire City Attorney Elbert Jefferson.

Cotton Giants Move Toward Merger

Allenberg Cotton Co. and Dunavant Enterprises Inc., both based in Memphis and once fixtures on the iconic stretch of Front Street that used to be a thriving hub of cotton commerce, are in talks to combine their operations.

Conrad Not Running for Mayor

Memphis City Council member Kemp Conrad, who had been considering an entry in this fall’s special mayoral election, has decided not to run.

New Company Finds IT Niche in Health Care

A new Memphis-based company is growing rapidly after developing a business plan for long-term care facilities that links health care providers with the information technology they need to carry out their work.

Local Weather
Memphis, TN
Wind: North at 3.5 mph
Humidity: 93%


The Mid-South Area Business Travel Association will hold its monthly luncheon today from 11:30 a.m. to 1 p.m. at the Holiday Inn Select East Memphis, 5795 Poplar Ave. Emily Capadalis of First Tennessee Bank’s Private Client Financial Services Division will speak. Cost is $25 for members and $40 for guests. For more information, visit www.msabta.com.

more events »

Charter School to Rehab Potential Eyesore

Not surprisingly, business education is standard fare at the Memphis Business Academy, a charter school about to begin its fifth academic year.

Legal Battle Over Tennessee Plan Continues

A statewide debate continues after the U.S. Sixth Circuit Court of Appeals last week upheld a lower court’s dismissal of a lawsuit challenging the constitutionality of the Tennessee Plan, the state system for appointing judges to the Tennessee Court of Appeals, the Court of Criminal Appeals and the Tennessee Supreme Court.

Taube Touts Influences, Lessons Learned in Law Practice

Emily Campbell Taube, a partner at Adams and Reese LLP, is a member of the firm’s Commercial Disputes, Labor and Employment, and Appellate Advocacy Practice teams. Taube focuses on litigation in the areas of commercial, Employee Retirement Income Security Act and employee benefits, employment practice and franchise/dealership litigation.

Buckeye Technologies Announces Q4 Results

Memphis-based Buckeye Technologies Inc. this week announced its fourth-quarter earnings. The company’s net sales were $177 million, down from $215 million compared to the fourth quarter of fiscal year 2008.

Bredesen Commends THP’s Funds Misuse Investigation

NASHVILLE (AP) – Gov. Phil Bredesen says the Tennessee Department of Safety is doing fine on its own, probing allegations of misused funds in the Highway Patrol’s East Tennessee criminal investigations division.

Tenn. Finance Head Says State Faces More Cuts

NASHVILLE, Tenn. (AP) - Tennessee Finance Commissioner Dave Goetz said Wednesday that continued poor sales tax revenue means state departments will likely have to make more cuts.

Tennessee Among First to Get Electric Car Chargers

CHATTANOOGA, Tenn. (AP) - The president of an Arizona-based company working with Nissan and getting a nearly $100 million federal grant to supply chargers for electric vehicles said communities in Tennessee, Arizona, California, Washington and Oregon will get the equipment first.

Merck, Schering-Plough in $42M Vytorin Settlement

TRENTON, N.J. (AP) - Merck & Co. and Schering-Plough Corp. said Wednesday they will pay $41.5 million to settle lawsuits claiming the drugmakers, partners on two blockbuster cholesterol drugs, delayed unfavorable study results because they would hurt sales.

Housing Agency Chief Lockhart to Step Down

WASHINGTON (AP) - The head of the federal agency that regulates mortgage finance companies Fannie Mae and Freddie Mac is stepping down.

Signs Show Slow Start on Back-to-School Sales

NEW YORK (AP) - It's still early, but analysts' grades already are coming in: the back-to-school shopping season is off to a lousy start.

ISM Service Sector Index Dips Unexpectedly in July

NEW YORK (AP) - Shrinking business activity, fewer new orders and lower employment sapped some modest momentum from the U.S. services sector in July, although economists said the setback likely was a blip and not the start of a troubling trend.

Factory Orders Unexpectedly Increase in June

WASHINGTON (AP) - Factory orders rose in June for the fourth time in five months, an unexpected gain and the latest sign of recovery in the ailing manufacturing sector.

Sotomayor Picks Up More GOP with Confirmation Near

WASHINGTON (AP) - Supreme Court nominee Sonia Sotomayor picked up more Republican support Wednesday in her drive toward near-certain Senate confirmation this week as the first Hispanic justice, even as the vast majority of the GOP called her unfit for the bench.

Gov't Insurance Would Allow Coverage for Abortion

WASHINGTON (AP) - Health care legislation before Congress would allow a new government-sponsored insurance plan to cover abortions, a decision that would affect millions of women and recast federal policy on the divisive issue.

Tips for Borrowers Dealing with Loan Servicers

WASHINGTON (AP) - Having trouble paying your mortgage? To find out if you qualify for a loan modification, you'll have to work with a loan servicer – the company that collects your mortgage payments.

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PROPERTY SALES 68 321 13,763
MORTGAGES 79 340 15,906
BUILDING PERMITS 265 765 28,522
BANKRUPTCIES 49 227 8,877

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