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VOL. 123 | NO. 176 | Tuesday, September 9, 2008

FedEx Sees Growth on Horizon

For both shareholders and executives of FedEx Corp., the transportation giant’s expected outlook for 2009 soon will come more into focus after several months of wrestling with the housing and economic slump in the U.S.

Lenox Homes Makes Adjustments In Poor Market

Chris Christian had been in the homebuilding business long enough – more than 20 years – to know it was time to shake things up.

City Council to Pick Interim Member

Memphis City Council members will pick an interim council member today to fill their ranks until the Nov. 4 election.

US Government Takes on Big Role In Mortgage Market

WASHINGTON (AP) – Uncle Sam has just become the 800-pound gorilla in the U.S. mortgage market.

Racquet Club’s New Owners To Make Improvements

5111 Sanderlin Ave., Memphis, TN 38117, Sale Amount: $4.4 Million -
Tennis Club of Memphis LLC – a partnership led by Doug Carpenter and Brian Sullivan of the carpenter | sullivan | sossaman advertising firm plus San Jose, Calif.-based Silicon Valley Sports & Entertainment – has bought The Racquet Club of Memphis for $4.4 million.

Local Weather
Currently
Memphis, TN
44.0°F
Fair
Wind: Northeast at 4.6 mph
Humidity: 47%

EVENTS

The Memphis Area Teachers’ Credit Union will sponsor the Spirit of Kindness Award celebration luncheon with The Kindness Revolution today from 11:30 a.m. to 1:30 p.m. at the Hilton Memphis, 939 Ridge Lake Blvd. Shelby County Mayor A C Wharton Jr. will deliver the keynote address. For more information, call 385-5200 or visit www.matcu.com.

more events »

Fannie, Freddie Deal Helps Some Borrowers, Not All

NEW YORK (AP) - Few outside Washington and Wall Street may understand what Fannie Mae and Freddie Mac do, but the government's bailout of the two will likely be felt in cities and suburbs across the country.

Real-Estate Site Expands Ad Deal with Newspapers

NEW YORK (AP) - Real-estate Web site Zillow.com is expanding its partnership with 282 newspapers to give national advertisers new ways to reach local markets, changes that the news companies hope will allow them to raise their fees for online ads.

OPEC Considers Cutting Oil Production

VIENNA, Austria (AP) - With oil prices off nearly 30 percent from their highs of almost $150 a barrel, OPEC oil ministers are considering what was unthinkable just a few weeks ago - cutting back output to prop up the price of crude.

GM Recalling 314,000 HHR SUVs to Fix Storage Bin

WASHINGTON (AP) - General Motors Corp. has recalled 314,048 Chevrolet HHR sport utility vehicles to fix a storage bin door that failed to remain closed during government testing, the automaker said Monday.

Head of North American Ops Departs GlaxoSmithKline

LONDON (AP) - GlaxoSmithKline PLC said Monday that the president of its North American pharmaceutical division will leave the company Dec. 1.

Furor Builds on SEC Indexed Annuity Oversight Plan

NEW YORK (AP) - It sounds like an arcane topic that would concern only a few, but a proposal by the Securities and Exchange Commission has generated a mini furor.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 344 19,573
MORTGAGES 110 422 22,914
FORECLOSURE NOTICES 2 8,305 8,305
BUILDING PERMITS 207 838 40,029
BANKRUPTCIES 60 356 13,104
BUSINESS LICENSES 21 194 6,137
UTILITY CONNECTIONS 30 147 12,996
MARRIAGE LICENSES 15 65 4,842

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