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VOL. 123 | NO. 152 | Tuesday, August 5, 2008

Newby’s, BMI Ordered to Mediation

Todd Adams, the owner of Newby’s, a popular college bar along the Highland Strip, was a little nervous as he prepared to participate in a Thursday conference call that would decide his business’ fate.

College of Art Buys Area Homes

Renowned for training artists at its Overton Park campus, the Memphis College of Art recently has shown a flair for acquiring properties that will aid in its mission.

Crew Training International Awarded Drone Pilot Contract

Memphis-based Crew Training International has been awarded a $50 million contract to train Predator drone pilots to operate the unmanned aerial vehicles. The five-year contract calls for CTI to train U.S. Air Force pilots to operate the MQ-1 “Predator” and its slightly larger cousin the MQ-9 “Reaper.”

Chick-fil-A Closes Purchase Of Midtown Church

1978 Union Ave., Memphis, TN 38104, Sale Amount: $1.3 Million -
The long-anticipated sale of a Cumberland Presbyterian Church building on Union Avenue in Midtown to Chick-fil-A Inc. has closed, with the Atlanta-based restaurant chain buying the historic property July 24. The sale was recorded July 31 in the Shelby County Register of Deeds, clearing the way for the fast-food chicken chain to raze the church building and begin construction of a restaurant, its first in Midtown.

Rising Prices Beat Down June Spending

WASHINGTON (AP) – Consumer spending, after adjusting for inflation, fell in June as shoppers were hit with the biggest increase in prices in nearly three decades.

Local Weather
Currently
Memphis, TN
82.0°F
Mostly Cloudy
Wind: North at 11.5 mph
Humidity: 53%

EVENTS

The Memphis Regional Chamber will hold its Metro Business Council Breakfast today from 7:30 a.m. to 9 a.m. at The Crescent Club, 6075 Poplar Ave. The topic is “Leveraging Your Business with Technology.” Cost is $20 for members and $30 for prospective members. For reservations, contact Ericka Milford at 543-3518 or emilford@memphischamber.com.

more events »

Fed Likely to Hold Rates Steady

WASHINGTON (AP) – An ugly brew of rising unemployment, spiking foreclosures and gyrating energy prices is plaguing the country and making life difficult for Federal Reserve Chairman Ben Bernanke as he tries to right the economy.

GM Posts $15.5B 2Q Loss, Third Worst in its History

DETROIT (AP) - With another huge quarterly loss now in its rearview mirror, General Motors Corp. faces the ominous task of raising revenue by selling cars rather than trucks.

Federal Pension Agency Seeks Investment Partners

WASHINGTON (AP) - The federal agency that backs the retirement benefits of 44 million Americans is seeking financial firms to invest about $2.5 billion of its assets in private equity and real estate.

Treasurys Slip as Stocks Improve on Oil Price Drop

NEW YORK (AP) - Treasury bond prices slipped Monday, reversing gains after the stock market rebounded off its lows thanks to a hefty drop in oil prices.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 98 440 10,282
MORTGAGES 129 503 12,017
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 1,028 21,997
BANKRUPTCIES 45 280 7,090
BUSINESS LICENSES 24 136 3,605
UTILITY CONNECTIONS 0 222 7,664
MARRIAGE LICENSES 28 117 2,580

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The Memphis News: Business, politics, and the public interest.