Editorial Results (free)
1. Parking Was Key in ServiceMaster Deal
- Thursday, June 16, 2016
Parking concerns for ServiceMaster Global Holdings’ move to Downtown Memphis have been resolved.
On June 14, the Downtown Parking Authority granted ServiceMaster access to the parking garage at 250 Peabody Place.
2. ServiceMaster Tax Incentive Package Approved
- Wednesday, June 15, 2016
The Center City Revenue Finance Corp. approved a tax incentive package Tuesday, June 14, to support ServiceMaster Global Holdings’ conversion of Peabody Place mall into a multimillion-dollar headquarters.
3. Show Time
- Saturday, June 11, 2016
For the first time in years, the Peabody Place mall was packed. On June 3, hundreds of ServiceMaster employees and a handful of business and government leaders ushered in One ServiceMaster Center, a multimillion-dollar headquarters for Memphis’ fourth-largest public company.
4. St. Louis Cardinals Sell Majority Stake in Memphis Redbirds
- Tuesday, March 08, 2016
Less than two years ago, the St. Louis Cardinals finalized their purchase of their Triple-A affiliate, the Memphis Redbirds. Now, the Cardinals, pending full approval from the Pacific Coast League, have announced on Monday, March 7, that they have reached an agreement to sell a majority interest in the Redbirds to Peter B. Freund, the Principal Owner of Trinity Baseball Holdings.
5. Mall of Memphis Property Bought by Trucking Company
- Tuesday, January 05, 2016
Mall of Memphis Site
Sale Amount: $3.9 million
Sale Date: Dec. 29, 2015
Buyer: TAG Real Estate Holdings LLC
Seller: Memphis Industrial Properties LLC (Johnson Development Associates Inc.)
Loan Amount: $23 million
Loan Date: Dec. 29, 2015
Lender: Mercedes-Benz Financial Services USA LLC
Details: The 113-acre former Mall of Memphis property has a new owner. TAG Real Estate Holdings, an affiliate of Memphis-based TAG Truck Enterprises LLC, paid $3.9 million, or $34,513 an acre, to buy the property from Johnson Development Associates Inc., acting as Memphis Industrial Properties LLC.
6. Mall of Memphis Land Sold to Trucking Company
- Thursday, December 31, 2015
The development company that wanted to build a speculative industrial park on the former Mall of Memphis site has sold the property instead.
Johnson Development Associates, Inc., acting as Memphis Industrial Properties, LLC, has unloaded the Mall of Memphis land in a Dec. 29 warranty deed.
7. Howard Stern Announces 5-Year Deal With Sirius XM
- Wednesday, December 16, 2015
NEW YORK (AP) — Much has changed for Howard Stern and SiriusXM since their first deal a decade ago — except for their desire to stay in business together.
The company announced Tuesday its third five-year deal to keep Stern's radio show at SiriusXM, together with a longer-term video arrangement that will allow fans to see as well as hear his program and have access to 30 years of career highlights.
8. Record Q3 Profit at United Fueled by Cheap Fuel
- Friday, October 23, 2015
DALLAS (AP) — Helped by lower jet fuel prices, United Airlines posted a record third-quarter profit even with lower revenue and airfares.
The airline's new acting CEO renewed his predecessor's pledge to improve service and boost profit margins.
9. Memphis Investment Professionals Preach Caution Amid Market Swings
- Tuesday, August 25, 2015
The 1,000-point drop at one point Monday, Aug. 24, in the Dow Jones Industrial Average – it ended the day down 588 points to close at an 18-month low – was a result of volatile trading that marked a stomach-churning start to the week for investors.
10. Home Depot Separates Itself From Retail Crowd in 2Q
- Wednesday, August 19, 2015
NEW YORK (AP) — Homes are getting a lot of TLC from their owners of late, which means better sales for businesses like Home Depot.
The world's largest home improvement retailer reported second-quarter results on Tuesday that surpassed Wall Street expectations, thanks largely to consumers opening their wallets. But Home Depot knows it's a change in mindset that is spurring homeowners to action.
11. Leco Realty Credits Success To Hands-On Approach
- Monday, August 17, 2015
Over the past 33 years, Bert Less has weathered many financial storms with his property management company Leco Realty Inc.
12. Snapshot: Memphis-Based Public Companies
- Saturday, May 30, 2015
Here's a look at what's going on at the dozen public companies headquartered in Memphis:
AutoZone Inc. is one of the largest auto parts retailers and distributors in the U.S., with a store count of 5,476 as of Feb. 14. Since 1998, the company has repurchased $15.7 billion worth of its own shares. At the end of March, AutoZone continued its share buyback program with the authorization to buy back another $750 million in company stock. The company followed that news with plans to pursue a $650 million debt offering to be used for “general corporate purposes.” – Andy Meek
13. Shops at Kirby Gate Sells for $3.4 Million
- Friday, May 08, 2015
A California-based investor has purchased the Shops at Kirby Gate in East Memphis for $3.4 million.
An affiliate of Los Angeles-based Westwood Financial Corp. acquired the shopping center at the northwest corner of Quince Road and Kirby Parkway from Shops at Kirby Gate LLC, according to public records.
14. Open In Memphis
- Monday, February 02, 2015
First-year Memphis Open tennis director Erin Mazurek no doubt could tell you more than you ever wanted to know about the Detroit Red Wings.
Mazurek spent five years working for the National Hockey League team as director of private events. So, she’s got a history there. She knows the value of winning and what the Stanley Cup means (last won by the Red Wings in 2008).
15. Randy Odom Named CEO of Memphis Athletic Ministries
- Wednesday, January 28, 2015
Randy Odom has been named president and chief executive officer of Memphis Athletic Ministries. Odom joined MAM in 2006 as a neighborhood center director and became chief operating officer in 2012. In his new role, he oversees all operations and programming for 10 neighborhood youth centers that serve more than 900 underserved youth after school each day.
16. ServiceMaster Signals Desire to Strengthen Tennis Tournament
- Monday, January 19, 2015
After it was announced at a press conference at The Racquet Club of Memphis that ServiceMaster Global Holdings Inc. had entered into a three-year deal to be the presenting sponsor of the Memphis Open, the company’s chief financial officer, Alan Haughie, couldn’t help himself.
17. Despite Global Weakness, Fed Upbeat About US Economy
- Thursday, January 08, 2015
WASHINGTON (AP) – Federal Reserve policymakers who met in December expressed concern about weakness overseas but were upbeat enough about the U.S. economy and impact of lower oil prices to prepare for a likely interest rate hike sometime this year.
18. Fed Promises 'Patient' Approach to a Rate Increase
- Thursday, December 18, 2014
WASHINGTON (AP) – The Federal Reserve is edging closer to raising interest rates from record lows given a strengthening U.S. job market and economy. But it says it will be "patient" in determining when to raise rates.
19. Wealth Gap Widens Between Whites and Minorities
- Monday, December 15, 2014
PORTLAND, Ore. (AP) – The economic recovery has not been equal among the races, according to a Pew Research Center study released Friday.
The study found that the wealth gap between white households and minorities has widened in recent years.
20. These Retailers Could Use Some Holiday Cheer
- Friday, December 05, 2014
NEW YORK (AP) – The holiday shopping season is always a make-or-break period for struggling retailers.
But this year, the fight to grab shoppers has intensified, making it difficult for stores to use the season that accounts for about 20 percent of the retail industry's annual sales to bounce back.
21. Fuel Costs Ease, US Airline Profits Soar
- Friday, October 24, 2014
DALLAS (AP) — Profits are soaring at the biggest U.S. airlines as fuel prices drop — but don't expect fares to fall too.
Heading into the busy holiday-travel period, the airlines expect even cheaper fuel, thanks to the nosedive in crude oil prices. The price of jet fuel, an airline's biggest single expense, has dropped by about one-fifth since mid-June.
22. Fed Keeps Rates Low, But Brace for the Inevitable
- Friday, September 19, 2014
WASHINGTON (AP) – Record-low interest rates will be around for at least a few more months, the Federal Reserve made clear Wednesday.
Enjoy the easy money while it lasts.
By mid-2015, economists expect the Fed to abandon a nearly 6-year-old policy of keeping short-term rates at record lows. Those rates have helped support the economy, cheered the stock market and shrunk mortgage rates. A Fed rate increase could potentially reverse those trends.
23. Regulators Set Rules Meant to Ward Off Bank Crisis
- Thursday, September 04, 2014
WASHINGTON (AP) – Federal regulators are set to require big banks to keep enough high-quality assets on hand to survive during a severe downturn, the latest move under congressional mandate to lessen the likelihood of another financial meltdown.
24. Indmar Marine Engines Files Expansion Permit
- Monday, September 01, 2014
5400 Old Millington Road
Unincorporated Shelby County
Permit Cost: $2 million
25. Fannie, Freddie Post Profits in Second Quarter
- Friday, August 08, 2014
WASHINGTON (AP) – Government-controlled mortgage companies Fannie Mae and Freddie Mac posted profits for the April-June period as the U.S. housing market continued to recover. Gains in recent years have enabled them to fully repay their government aid after being rescued during the financial crisis in 2008.
26. Fed Weighs Key Issues But May Reveal Little
- Wednesday, July 30, 2014
WASHINGTON (AP) — This much is clear: The Federal Reserve will make another cut this week in its monthly bond purchases, which have been aimed at keeping long-term loan rates low.
This much is not: When will the Fed start tightening its interest-rate policy to thwart any runaway inflation? How will it do so? And when will the Fed start paring its enormous $4 trillion-plus investment portfolio — a step that will put upward pressure on interest rates?
27. Yellen Says Economy Still Needs Fed Support
- Wednesday, July 16, 2014
WASHINGTON (AP) – Federal Reserve Chair Janet Yellen said Tuesday that the economic recovery is not yet complete and for that reason the Fed intends to keep providing significant support to boost growth and improve labor market conditions.
28. Fed Split on Signals for First Rate Increase
- Thursday, July 10, 2014
WASHINGTON (AP) – Federal Reserve officials had differing views in June on the best way to signal to financial markets when they might raise a key short-term interest rate. They were in broad agreement, however, that they will likely announce an end to their monthly bond buying program in October.
29. Minutes: Fed Began Weighing Options for Rate Rise
- Thursday, May 22, 2014
WASHINGTON (AP) – The Federal Reserve has begun to discuss the tools it could use to finally pull back the extraordinary stimulus it's provided the U.S. economy since 2008. But Fed officials plan further discussions and have set no timetable for any increase in interest rates.
30. Life Church Buys Victory Campus for $4.4 Million
- Tuesday, May 13, 2014
255 N. Highland St.
Memphis, TN 38111
Sale Amount: $4.4 million
Sale Date: May 2, 2014
Buyer: The Life Church of Memphis Inc.
Seller: SignificantPsychology LLC
Loan Amount: $3.8 million
Loan Date: May 2, 2014
Maturity Date: May 5, 2019
Lender: Triumph Bank
Details: The Life Church of Memphis has paid $4.4 million for the former Victory University campus at 255 N. Highland St.
31. Yellen Foresees Continued Low Borrowing Rates
- Thursday, May 08, 2014
WASHINGTON (AP) – Federal Reserve Chair Janet Yellen said Wednesday that the U.S. economy is improving but noted that the job market remains "far from satisfactory" and inflation is still below the Fed's target rate.
32. Hedgemoor Square Sells for $3.6 Million
- Tuesday, May 06, 2014
375 N. Graham St.
Memphis, TN 38117
Sale Amount: $3.6 million
Sale Date: April 30, 2014
Buyer: Summit Hedgemoor Square Apartments LLC
Seller: Hedgemoor Square Apartments GP
Loan Amount: $2.7 million
Loan Date: April 30, 2014
Maturity Date: N/A
Lender: Pulaski Bank
33. Eastgate Set for Possible Makeover
- Friday, May 02, 2014
A venerable shopping center in East Memphis could be getting a significant makeover, according to a recent retail market report from CB Richard Ellis Memphis.
Eastgate Center LLC, the owner of Eastgate Shopping Center at Park Avenue and White Station Road in East Memphis, could make significant aesthetic improvements to the retail center beginning this year.
34. US Says Average Airfares Rising Slowly
- Wednesday, April 23, 2014
DALLAS (AP) – The average price of an airline ticket for travel within the U.S. rose by just $1 last year, although prices are still modestly higher than they were five years ago.
The U.S. Department of Transportation said Tuesday that the average domestic airfare rose to $381 in the fourth quarter of 2013, a 0.3 percent increase from a year earlier.
35. Is Hot Market for IPOs Cooling?
- Tuesday, April 15, 2014
NEW YORK (AP) – A hot market for initial public offerings may soon face a cooler reception from investors.
IPOs are having their best start to a year since 2000. Eighty-nine companies have raised $19 billion through sales of new stock so far in 2014. But demand for more offerings depends largely on the health of the broader market, and after last week's sell-off, the clamor from buyers may quiet down.
36. Flight Cancelations Take a Toll on Airline Revenue
- Wednesday, March 12, 2014
DALLAS (AP) – Airlines are still tallying up the damage from this winter's storms, but solid demand for travel means they are likely to weather the rocky start to 2014 in good shape.
Reports from some of the airlines point to higher average prices, and executives say spring bookings look strong.
37. Jos. A. Bank Buying Eddie Bauer in $825 Million Deal
- Monday, February 17, 2014
After months of flirting with the idea of combining with a rival, Jos. A. Bank has decided it is better suited for another men's clothing brand.
38. Yellen to Investors: Expect Continuity at the Fed
- Wednesday, February 12, 2014
WASHINGTON (AP) – Federal Reserve Chair Janet Yellen sought Tuesday to reassure investors that she will embrace the approach to interest-rate policy that her predecessor, Ben Bernanke, pursued before he stepped down as chairman last month.
39. Council Gets Overview of Public Safety Spending
- Wednesday, January 22, 2014
Memphis City Council members got a first and at times conflicting look Tuesday, Jan. 21, at the hard decisions they could make about city spending on public safety.
Memphis Mayor A C Wharton Jr. walked the council through some ideas for cuts in city spending beyond larger changes in city retirement and health benefits. Those obligations are the “cornerstone” of the efforts to get the city’s financial house in order, said city Chief Administrative Officer George Little.
40. New Life
- Saturday, January 18, 2014
When Rob Clark and his wife moved into their home in the historic Evergreen neighborhood in 1993, catalog and distribution operations were still active at the Sears Crosstown building.
That soon changed, and for roughly two decades the hulking property stood as a towering, painful reminder of the area’s faded glory.
41. New Life
- Monday, January 20, 2014
When Rob Clark and his wife moved into their home in the historic Evergreen neighborhood in 1993, catalog and distribution operations were still active at the Sears Crosstown building.
That soon changed, and for roughly two decades the hulking property stood as a towering, painful reminder of the area’s faded glory.
42. Senate Panel Advances Yellen's Bid to Lead Fed
- Friday, November 22, 2013
WASHINGTON (AP) – A Senate panel on Thursday advanced Janet Yellen's nomination to lead the Federal Reserve, setting up a final vote in the full Senate after lawmakers return from a two-week Thanksgiving break.
43. Leases Push Renaissance Center Near Capacity
- Friday, November 22, 2013
The Renaissance Center office building in East Memphis should be near capacity early next year, following a series of recent lease signings.
Financial Federal signed a lease on Tuesday, Nov. 20, to occupy 27,000 square feet on the first and second floors of the Renaissance Center, 1715 Aaron Brenner Drive. In addition to the new location, the growing financial firm will have signage atop the East Memphis office building along Poplar Avenue east of Interstate 240.
44. ServiceMaster to Spin Off Struggling TruGreen
- Thursday, November 14, 2013
The ServiceMaster Co. plans to spin off its TruGreen lawn care business at the end of 2013 after several years in which the Memphis-based collection of residential- and commercial-services companies has struggled with the right business model for the TruGreen brand.
45. Twitter Just One Symptom of IPO Fever's Return
- Wednesday, November 06, 2013
IPO fever is back.
Five years after the financial crisis dampened enthusiasm for initial public offerings, investors are again eager to buy shares when companies start trading. Twitter is the star this week, but the number of offerings shows that it's not just social-media darlings that are seeking and attracting investors.
46. Buying Yellen
- Friday, October 18, 2013
President Obama recently made it official that Janet Yellen will succeed Ben Bernanke as the head of the Federal Reserve. Janet has spent much of her career as a dedicated and vocal advocate for the unemployed. With participation rates low, and the unemployment rate high, the markets anticipate that Janet will continue, if not augment, Ben Bernanke’s expansionary monetary policies. A renewed enthusiasm for monetary stimulus has had observable market impact.
47. Combined Net Worth of America's Richest Rises
- Tuesday, September 17, 2013
NEW YORK (AP) – Life is good for America's super wealthy.
Forbes on Monday released its annual list of the top 400 richest Americans. While most of the top names and rankings didn't change from a year ago, the majority of the elite club's members saw their fortunes grow over the past year, helped by strong stock and real estate markets.
48. Hospital Operator HCA's Second-Quarter Profit Rises 8.2 Percent
- Friday, August 02, 2013
NASHVILLE (AP) – HCA Holdings Inc.'s second-quarter earnings climbed more than 8 percent, as the largest U.S. hospital chain saw admissions climb at its established locations and reaped more revenue out of each admission.
49. Virginia Company Buys Poplar Avenue Retail Property
- Tuesday, April 30, 2013
7665 Poplar Ave. Germantown, TN 38138
Sale Amount: $2.9 million
Sale Date: April 19, 2013
50. Haslams Try to Halt Fallout From FBI Raid on Pilot
- Thursday, April 25, 2013
NASHVILLE (AP) – Tennessee's Haslam family is furiously trying to control the damage following a federal investigation into the family business that could threaten to unravel decades of growing wealth and influence that spans business, sports and politics in the state and beyond.
51. Report: Richest 7 Percent Got Richer During Recovery
- Wednesday, April 24, 2013
WASHINGTON (AP) – The richest Americans got richer during the first two years of the economic recovery while average net worth declined for the other 93 percent of U.S. households, says a report released Tuesday.
52. Wills Stewarding Growth of East Memphis Land
- Monday, March 18, 2013
For Walter Wills III, taking care of his neighborhood and the surrounding area is one of his life tasks.
Wills & Wills LP has owned much of the land in the Kirby-Quince corridor for more than 40 years. The area is seeing an influx of medical office and retail users in the past few years, and more are expected with a new Regional Medical Center at Memphis outpatient center in the area.
53. Federal Reserve Pays Government $88.9 Billion
- Saturday, January 12, 2013
The Federal Reserve paid the federal government a record $88.9 billion in 2012. The central bank earned the money from the Treasury bonds and mortgage-backed securities it has purchased to drive interest rates lower and boost the economy.
54. Federal Reserve Pays Government $88.9 Billion
- Friday, January 11, 2013
The Federal Reserve paid the federal government a record $88.9 billion in 2012.
The central bank earned the money from the Treasury bonds and mortgage-backed securities it has purchased to drive interest rates lower and boost the economy.
55. Foreign Holdings of US Debt Hit Record $5.48 Trillion
- Tuesday, December 18, 2012
WASHINGTON (AP) – Foreign ownership of U.S. Treasury securities rose to a record level in October, a sign that overseas investors remain confident in U.S. debt despite a potential budget crisis.
56. Hickory Hill Warehouse Sells for $15.7 Million
- Tuesday, December 11, 2012
6380 Holmes Road Memphis, TN 38141
Sale Amount: $15.7 million
Sale Date: Dec. 5, 2012
57. ConAgra Gobbles Up Store Brands With Ralcorp Deal
- Wednesday, November 28, 2012
NEW YORK (AP) – ConAgra Foods is set to become the nation's biggest maker of store brand foods, with its $5 billion purchase of Ralcorp expanding its stake in the fast-growing market for cereals, crackers and other packaged foods sold under private labels.
58. Storm Leads Companies to Postpone Earnings Reports
- Tuesday, October 30, 2012
NEW YORK (AP) – A number of major U.S. companies postponed quarterly earnings reports scheduled for Monday and Tuesday, as Hurricane Sandy barreled into the East Coast and caused the first unplanned shutdown of financial markets since 2001.
59. Holiday Sales Seen Rising 4.1 Percent in 2012
- Wednesday, October 03, 2012
NEW YORK (AP) – Americans are expected to spend more during what's traditionally the busiest shopping season of the year, but they're not exactly ready to shop 'til they drop like they have been in the past two years.
60. Panda to Build Restaurant On Winchester Outparcel
- Monday, September 03, 2012
7525 Winchester Road
Memphis, TN 38125
Permit Cost: $791,345
Project Cost: N/A
61. Cordova Ridge Shops Sells for $2 Million
- Tuesday, August 28, 2012
An affiliate of Dallas-based CWCapital Asset Management LLC has paid $2 million for Cordova Ridge Shops, a retail shopping center at 1204 Houston Levee Road in unincorporated Cordova.
62. Freddie Mac Posts $1.2B Net Income for Q2
- Wednesday, August 08, 2012
WASHINGTON (AP) – Government-controlled mortgage giant Freddie Mac posted net income of $1.2 billion for the second quarter and isn't requesting any additional federal aid for the period.
63. American CEO Bashes US Airways; Calls it Desperate
- Thursday, July 26, 2012
BOSTON (AP) – American Airlines CEO Tom Horton wants to set the record straight: It was he who approached US Airways CEO Doug Parker about the possibility of combining the two airlines, not the other way around.
64. Sears Execs Say Retailer Financially Strong
- Thursday, May 03, 2012
HOFFMAN ESTATES, Ill. (AP) – Sears executives tried Wednesday to ease concerns about the troubled retailer's long-term outlook amid ever-sinking sales, emphasizing the company's financial strength, increased liquidity and prospects to boost operational results.
65. American Makes its Case Against Union Contracts
- Tuesday, April 24, 2012
NEW YORK (AP) – American Airlines argued before a federal bankruptcy judge Monday that its union contracts need to be changed to make the company financially stable.
The airline lost more than $10 billion in the decade leading up to its declaration of bankruptcy in November. During that same period most of its major rivals used the bankruptcy process to cut wages and benefits, which American says has left it saddled with higher labor costs.
66. Govt Loses About $49M on Sale of Small-Bank Stocks
- Friday, March 30, 2012
WASHINGTON (AP) – The government has lost roughly $50 million on its sale of stock in six small banks bailed out in the 2008 financial crisis. But the Treasury Department says the three-year investment was profitable after counting dividends and investments.
67. Privatization Thoughts Highlight Changes
- Monday, February 27, 2012
Here’s a roundup of what some of the city’s banks and bankers, investment professionals, mortgage brokers, asset management firms and other financial services shops have been up to in recent weeks.
68. Sears Adds Ex-Brookstone CEO to Head Merchandising
- Wednesday, January 04, 2012
NEW YORK (AP) – Sears Holdings Corp.'s CEO says he's looking to former Brookstone head Ron Boire as its new chief merchandising officer to help meld the store experience with online and mobile shopping.
69. To be on Safe Side, Diversify
- Thursday, December 15, 2011
Ray’s Take The old adage “don’t put all your eggs in one basket” very much applies to saving and investing. You may think of investment diversification as simply having a variety of mutual funds, but it’s important to consider other factors, too.
70. Fed Says Economy is Healthier; Takes No New Steps
- Wednesday, December 14, 2011
WASHINGTON (AP) – The Federal Reserve on Tuesday portrayed the U.S. economy as slightly healthier and held off on any new steps to boost the economy.
Hiring is picking up and consumers are spending more despite slower growth globally, the Fed said in its latest policy statement.
71. Fed Nearing a Plan to Clarify Direction of Rates
- Tuesday, December 13, 2011
WASHINGTON (AP) – The Federal Reserve under Ben Bernanke has gone further than ever to explain its policies to the public. It's ready to go further still.
A Fed policy meeting Tuesday will likely focus, in part, on an evolving plan to reveal the direction of interest rates more explicitly. The Fed may decide, for example, to regularly update the public on how long it plans to keep short-term rates at record lows.
72. Airlines Hike Fares for 1st Time Since Summer
- Thursday, October 20, 2011
NEW YORK (AP) – Holiday travelers may want to lock in airfares now, because they're going up.
Major airlines are joining in the first widespread airfare increase since early August. The hike was initiated by Delta Air Lines Inc. late Tuesday when it raised fares by $4 to $10 on roundtrip flights across most of its U.S. routes, according to Rick Seaney of Farecompare.com. Soon after, United Continental Holdings Inc. matched the increases.
73. FTN’s Low Says US Economy ‘On the Brink’
- Wednesday, October 19, 2011
Chris Low, chief economist for FTN Financial in New York, compressed several years’ worth of recent economic data and trends into the three-word title of his hour-long presentation Monday at the Racquet Club of Memphis.
74. A Summer Many Investors Would Rather Forget
- Monday, October 03, 2011
NEW YORK (AP) – It was a stomach-churning summer that most investors would like to forget.
The United States lost its top-of-the-line credit rating for the first time. The financial system of Europe seemed ready to collapse. Money managers sifted through data for signs that the economy was about to slide into a new recession.
75. Mortgage Fraud Reports Spike as Lawsuits Pile Up
- Thursday, September 29, 2011
VIENNA, Va. (AP) – The wave of lawsuits and other demands from investors in mortgage-backed securities contributed to a big spike in reports of likely mortgage fraud during the second quarter, according to a Treasury Department report.
76. Stock Buybacks Rise for 8th Consecutive Quarter
- Wednesday, September 21, 2011
BOSTON (AP) – America's biggest corporations rewarded shareholders by spending more money on stock repurchases for the eighth consecutive quarter.
Standard & Poor's Indices on Tuesday said stock repurchases by companies in the S&P 500 index rose 41 percent in the April-June period, growing to more than $109 billion from nearly $78 billion in last year's second quarter. Buybacks rose 22 percent compared with this year's first quarter, when the total was nearly $90 billion.
77. First Horizon, Fitch Say Risk Manageable
- Monday, September 19, 2011
Bryan Jordan, the president and CEO of First Tennessee Bank’s parent company, told his audience at an industry conference a few days ago in New York City that his company has been out of the mortgage business for three years now.
78. Bernanke Offers No Hints of Further Aid to Economy
- Friday, September 09, 2011
WASHINGTON (AP) – Federal Reserve Chairman Ben Bernanke said Thursday that he's surprised by how cautious consumers remain more than two years since the recession officially ended. But he offered no hints of further steps the Fed might take to try to boost the weak economy.
79. Fed Says 12 Regions Grew Modestly This Summer
- Thursday, September 08, 2011
WASHINGTON (AP) – Despite the turmoil that shook the financial markets last month, the Federal Reserve says its 12 bank regions grew modestly this summer because consumers spent more in most parts of the country.
80. Feds Sue 17 Major U.S. Banks, Including First Tenn. Parent
- Wednesday, September 07, 2011
The federal agency that oversees the government-sponsored mortgage entities Fannie Mae and Freddie Mac has filed lawsuits seeking billions of dollars in compensation from several major U.S. banks, including the parent company of First Tennessee Bank.
81. Feds Sue 17 Major U.S. Banks, including First Tenn. Parent
- Tuesday, September 06, 2011
The federal agency that oversees the government-sponsored mortgage entities Fannie Mae and Freddie Mac has filed suit seeking billions of dollars in compensation from several major U.S. banks, including the parent company of First Tennessee Bank.
82. Wealth Gap Widens Between Whites, Minorities
- Wednesday, July 27, 2011
WASHINGTON (AP) — The wealth gaps between whites and minorities have grown to their widest levels in a quarter-century. The recession and uneven recovery have erased decades of minority gains, leaving whites on average with 20 times the net worth of blacks and 18 times that of Hispanics, according to an analysis of new Census data.
83. End of the Road
- Monday, July 04, 2011
Not long after the Federal Reserve announced a controversial program in November 2010 to buy $600 billion in U.S. government securities, Tennessee’s junior senator found himself besieged by incredulous voters at a town hall meeting in Memphis.
84. End of the Road
- Friday, July 01, 2011
ot long after the Federal Reserve announced a controversial program in November 2010 to buy $600 billion in U.S. government securities, Tennessee’s junior senator found himself besieged by incredulous voters at a town hall meeting in Memphis.
85. Fed Acknowledges Economy is Growing More Slowly
- Thursday, June 23, 2011
WASHINGTON (AP) – The Federal Reserve acknowledged Wednesday that the economy is growing more slowly than it expected. But it said it will complete its $600 billion Treasury bond buying program by June 30 as planned and announced no further efforts to boost the economy.
86. Bernanke Offers Clues About Steps to Raise Rates
- Thursday, April 28, 2011
WASHINGTON (AP) – At a historic news conference, Federal Reserve Chairman Ben Bernanke offered clues Wednesday about when and how the Fed would begin raising interest rates.
Bernanke said that as long as the Fed continues to say rates will remain at historic lows for "an extended period," rates won't rise until the Fed has met at least twice more. The Fed, which ended a two-day meeting Wednesday, gathers about every six weeks.
87. Spike in Fuel Prices Erasing Airline Profits
- Friday, April 22, 2011
Soaring jet fuel prices are wiping out profits at the nation's biggest airlines.
The world's biggest airline company, United Continental Holdings Inc., said Thursday that it lost $213 million in the first three months of the year after it paid nearly $600 million more for fuel than in the year-ago quarter.
88. ServiceMaster Revenues Increase
- Thursday, March 31, 2011
Hank Mullany’s tenure as CEO of The ServiceMaster Co. begins Friday at the Memphis headquarters of the company that includes Terminix, TruGreen, Merry Maids and other residential and commercial services.
89. SRVS Files Construction Loan for New Headquarters
- Tuesday, March 29, 2011
3971 Knight Arnold Road
Memphis, TN 38118
Loan Amount: $3.3 million
Loan Date: March 22, 2011
Maturity Date: n/a
Borrower: Shelby Residential and Vocational Services Inc.
Lender: First Tennessee Bank NA
90. Treasury: Will Begin Selling Mortgage Securities
- Tuesday, March 22, 2011
WASHINGTON (AP) – The Treasury Department announced Monday that it will begin selling its remaining $142 billion in holdings of mortgage-backed securities purchased during the financial crisis.
91. ‘Big 3’ Reflect Local Banking Scene
- Monday, February 21, 2011
One of the most famous aphorisms about politics is that all of it is local. Bankers and other inhabitants of the finance world know the same often goes for them too.
In the run-up to the recession, financial services firms like Citigroup and Bank of America raced to gobble each other up and built sprawling financial supermarkets.
92. Treasury Announces Bank Warrant Auction
- Tuesday, February 01, 2011
WASHINGTON (AP) – The Treasury Department says this week it will auction off warrants it received from Boston Private Financial Holdings Inc., the latest effort to recoup the costs of the $700 billion financial bailout.
93. Haslam Stresses Transparency in Cabinet Meeting
- Friday, January 21, 2011
NASHVILLE (AP) – Gov. Bill Haslam stressed the themes of transparency, responsiveness and humility at his first full Cabinet meeting Wednesday even as he defended a decision to scrap financial disclosure rules for himself and other top officials.
94. Cypress Realty Holdings Buys Millington Perkins Site
- Tuesday, January 11, 2011
8472 New Wilkinsville Road
Millington, TN 38053
Sale Amount: $1.3 Million
95. Sears Q3 Loss Widens on Poor Appliance, Clothing Sales
- Friday, November 19, 2010
NEW YORK (AP) – Sears Holdings Corp.'s third-quarter loss nearly doubled, dragged down by weak revenue at its long-suffering Sears chain, hurt by poor sales of appliances and clothing.
96. RxBio, ED Labs Use Federal Funds for Drug Development
- Wednesday, November 17, 2010
Sister companies RxBio Inc. and ED Laboratories have been awarded federal funding to support their bioscience research, which includes the development of drugs to protect against the effects of typically lethal radiation following unintended exposure, as in the case of a nuclear attack.
97. Pinnacle Reports $9.4M Profit in Q3
- Wednesday, November 10, 2010
Pinnacle Airlines Corp. on Tuesday reported a net income of $9.4 million during the third quarter excluding special items, a 29 percent increase from the same quarter a year ago.
98. Citi Selling $1.6B Consumer Finance Assets to GE
- Thursday, October 07, 2010
NEW YORK (AP) – Citigroup is selling $1.6 billion in retail sales finance assets to GE Capital as the bank continues to restructure its business to focus on core consumer banking operations.
99. Williams Joins Ronald McDonald House Charities
- Wednesday, September 08, 2010
Keaton Williams has joined Ronald McDonald House Charities of Memphis as special events coordinator.
100. MedVet Memphis Builds New Cordova Facility
- Tuesday, August 31, 2010
555 Trinity Creek Cove
Cordova, TN 38018
Permit Amount: $3 million
Permit Date: Applied August 2010
Completion: May 2011 (open Summer 2011)
Owner: MedVet Memphis LLC
Tenant: MedVet Memphis LLC
Contractor: Grinder, Taber & Grinder Inc.