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VOL. 123 | NO. 55 | Wednesday, March 19, 2008

Drop in the Bucket

City sales tax revenue could see 7 percent decline

Local sales tax revenue is the latest casualty of the nationwide credit crunch.

Hong Kong Closes On Memphis' Airport Ranking

When Memphis International Airport was named last week as the world's busiest cargo airport for the 16th consecutive year, the rankings indicated that an already slim lead over No. 2 Hong Kong had narrowed even more.

Peeples Promoted to Administrator At Methodist Alliance Health Services

Trip Peeples has been promoted to administrator for Methodist Alliance Health Services' Home Medical Equipment and Infusion division.

City Council Puts Off Strip Club Ordinance Vote

The Memphis City Council has delayed indefinitely a final vote on a new city ordinance governing strip clubs.

Herenton Advances Plan to Close Libraries; Announces ‘Inevitable’ Tax Hike

Some of them are dilapidated. Others are redundant, too close to existing facilities.

Local Weather
Memphis, TN
Partly Cloudy
Wind: Calm mph
Humidity: 76%


The University of Memphis and the Performance Excellence Association of the Mid-South "Lunch and Learn" series will be held today from 11:30 a.m. to 1 p.m. at Meritan, 4700 Poplar Ave. Dr. Jiada Mo, professor and graduate coordinator at the Mechanical Engineering Department of the University of Memphis, will present "The Chinese Connection." Lunch is $7 for PerfX members and $10 for nonmembers. For more information, e-mail hjbrowning@comcast.net or call 831-0230.

more events »

Nucor to Acquire North Carolina Recycler

CHARLOTTE, N.C. (AP) - Steel producer Nucor Corp. agreed Tuesday to buy nearly all the assets of Metal Recycling Services Inc. for an undisclosed amount.

Fed Aggressively Cuts Funds Rate by Three-Fourths of a Percentage Point

WASHINGTON (AP) - The Federal Reserve on Tuesday slashed a key interest rate by three-fourths of a percentage point, moving aggressively to contain a credit crisis threatening to push the country into a severe recession.

Lawmakers Ask Fed to Take Action to Bolster Student Loan Market Amid Financial Distress

WASHINGTON (AP) - House members from both parties are asking the Federal Reserve to intervene and steady the shaken student loan market.

FDA Cites Increased Risks of Death With Medtronic Stent

WASHINGTON (AP) - Patients treated with a Medtronic stent to prevent aneurysms appear more likely to die than those who undergo surgery, the Food and Drug Administration said Tuesday.

Research Model Seeks to Include More Minority Participants

A local research network has developed a research model designed to bridge the gap in health care to underserved communities, especially the black community.

More Charter Chat On Tap Today

Shelby County Board of Commissioners members appear on their way to an August countywide vote on charter changes that would leave five offices elected, but term-limit the elected officials and make them part of the charter as opposed to offices with duties now defined by the Tennessee Constitution.

Gov't May Soon Loosen Capital Restraints On Fannie, Freddie

WASHINGTON (AP) - Fannie Mae and Freddie Mac are expected to get further financial leeway from the government, enabling the mortgage-finance companies to expand their roles in the stricken housing market.

Pilot Seniority Issue Brings Delta-Northwest Merger Into Question

ATLANTA (AP) - Delta Air Lines' pilots union has told company executives it can't agree on seniority issues with its counterpart at Northwest Airlines, raising serious doubts about the prospect of a combination of the two companies.

Bass Pro CEO to Meet With Local Officials in Memphis Thursday

The president and chief executive officer of Bass Pro Shops is coming to Memphis this week to meet with local elected leaders. It is the first meeting Jim Hagale has had with the leaders who will ultimately decide whether the hunting and fishing retailer builds a store and other attractions in The Pyramid.

Dropouts Would be Ineligible for Driver’s Licenses Until 21

NASHVILLE (AP) - People who don't have high school diplomas or GEDs wouldn't be able to get driver’s licenses until the age of 21 under a proposal advancing in the state Legislature.

Under State Bill, Parole Officer Would Face Felony for Sexual Contact With Parolee

NASHVILLE (AP) - A proposal that would make it a felony for a parole officer to have sexual contact with a parolee is advancing in the Tennessee Legislature.

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PROPERTY SALES 96 173 11,698
MORTGAGES 95 174 13,601
BUILDING PERMITS 291 387 24,551
BANKRUPTCIES 65 118 7,591

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