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VOL. 123 | NO. 184 | Friday, September 19, 2008

St. Clair Expands In Rough Economy

When Oscar Edmonds III bought St. Clair Foods in 1976, the company employed two people and manufactured four salad dressings in an 1,800-square-foot space off Highland Avenue.

Story Not Straight on MCS Layoffs

Memphis City Council members left their public meeting at City Hall last week convinced they now have a more complete understanding of Memphis City Schools demographics. That feeling might prove to be short-lived.

Herenton Addresses Convention Center Speculation

Memphis Mayor Willie Herenton said Thursday no decision has been made on the idea of a new convention center, much less the cost of such a center and its location.

Weiss Spicer Chosen For Fannie Mae National Network

Weiss Spicer Cash PLLC, a Memphis law firm that focuses on real estate transactions, recently became a member of Fannie Mae’s Retained Attorney Network.

Commission to Decide Ultimate Role in Pyramid Deal

Shelby County government may or may not give up its share of The Pyramid in advance of a deal to bring Bass Pro Shops there. The Shelby County Board of Commissioners will make that decision Monday.

Local Weather
Memphis, TN
Partly Cloudy
Wind: West at 6.9 mph
Humidity: 68%


The American Bar Association and Memphis Bar Association will present a one-day institute on basic law and procedure concerning the National Labor Relations Act today at the Fogelman Executive Conference Center, 330 Innovation Drive. Registration begins at 8:30 a.m. For more information, visit www.abanet.org.

more events »

Fed Steps Up Action to Stem Global Crisis

WASHINGTON (AP) – Scrambling to break the grip of a worsening global credit crisis, the Federal Reserve stepped up action Thursday by pumping billions into financial markets here and abroad.

Fowlkes Seeks Better Way To Treat Criminals in System

When he was an assistant public defender and an assistant district attorney in the 1980s, John Fowlkes used to measure whether it was a busy day by if he could carry all of his case files under one arm. One arm was busy. Two arms meant he was slammed.

Stocks Surge on Report of Entity for Bad Debt

NEW YORK (AP) - Wall Street surged higher Thursday, with the Dow Jones industrials up more than 400 points after a report that the federal government is considering creation of a repository for banks' bad debt.

Fed, Central Banks Move to Boost Global Confidence

NEW YORK (AP) - The worst global financial crisis since the Great Depression forced the Federal Reserve and central banks in other countries to pump billions of dollars into the world's banking system in an urgent bid to stop further damage.

Oil Rises as Investors Eye US Financial Turmoil

VIENNA, Austria (AP) - Concerns over deepening turmoil in the U.S. financial system briefly propelled oil prices above $100 a barrel Thursday as investors turned away from equities in favor of commodities. Unrest in oil-rich Nigeria also supported prices.

Kraft Replaces AIG in Dow Jones Industrial Average

NEW YORK (AP) - Dow Jones & Co. said Thursday that Kraft Foods Inc. will replace struggling insurer American International Group Inc. in the Dow Jones Industrial Average when trading begins Sept. 22.

Leading Indicators Fall as Building Permits Drop

NEW YORK (AP) - The economy's health dropped for the second consecutive month in August as building permits dropped and unemployment claims rose, a private business group said Thursday.

Delta Updates Liquidity Projection

ATLANTA (AP) - Delta Air Lines Inc., the nation's third-largest carrier, said Thursday it expects to end the year with slightly less cash on hand that previously forecast.

Northwest Airlines Sees Up to $100M Pretax Profit

MINNEAPOLIS (AP) - Northwest Airlines says it could make a pretax profit of $60 million to $100 million in the quarter.

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PROPERTY SALES 85 317 11,842
MORTGAGES 99 353 13,780
BUILDING PERMITS 304 784 24,948
BANKRUPTCIES 54 233 7,706

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