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