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VOL. 123 | NO. 192 | Wednesday, October 1, 2008

Area Reps. Split on Bailout Bill

The Memphis area’s three U.S. representatives split along party lines in Monday’s House vote killing a $700 billion financial bailout bill.

U of M Begins Intermodal Safety Center

The University of Memphis has created the “CN – E. Hunter Harrison Center for Intermodal Safety and Emergency Preparedness” thanks to a $1 million donation by Canadian National Railway Co.

As Banks Scrimp, Borrowing Rates Soar

NEW YORK (AP) – Bank-to-bank lending rates jumped Tuesday and Treasury bill demand remained high, a day after Congress’ rejection of the bank bailout plan cast an even deeper freeze over the barely operational credit markets.

Muvico, Peabody Place Wrestle Over Contract Claims

Muvico Entertainment LLC, which closed its Downtown Memphis theater this summer, is locked in a federal lawsuit with Peabody Place Centre GP over contractual issues related to the theater’s closure.

Conference To Address Black Issues

A group of black scholars today will begin addressing the effects of hip-hop music, health care disparities and other issues important to African-Americans and then present their findings to local policy-makers.

Local Weather
Currently
Memphis, TN
44.0°F
Mostly Cloudy
Wind: South at 6.9 mph
Humidity: 55%

EVENTS

LunaWeb Inc. will sponsor the Seventh Memphis Social Media Breakfast today at 7:30 a.m. at The Crescent Club, 6075 Poplar Ave. The event will feature open discussion on new developments in social media as well as presentations from group members. For more information, visit http://newmedia.meetup.com/84/.

more events »

Wal-Mart Stands Up Against Uzbeki Child Labor

BENTONVILLE, Ark. (AP) – Wal-Mart Stores Inc. reported Tuesday it has told suppliers to stop acquiring cotton from Uzbekistan to try and put an end to forced child labor in cotton harvesting.

Warren Named Bursar At University of Memphis

Carol Warren has accepted the position of bursar in the Division of Business & Finance at the University of Memphis. Warren is a graduate of the University of Memphis and has experience in student financial service operations working for the U of M previously as the assistant bursar. Before joining the university, Warren spent several years in the Loan Division at First Tennessee Bank.

Huge TVA Electric Rate Increase Takes Effect

KNOXVILLE, Tenn. (AP) – The Tennessee Valley Authority's largest electric rate increase in more than three decades takes effect Wednesday as thousands of consumers already are struggling to pay their power bills and avoid service cutoffs.

Lobbyists Regroup After Public Beats Bailout Bill

WASHINGTON (AP) – Lobbyists regrouped Tuesday after the House defeated the $700 billion bailout, a loss that had the business sector trying to recast the terms of the debate.

Poll: Frist Has Wide Name Recognition in Tenn.

NASHVILLE, Tenn. (AP) – Potential Republican gubernatorial candidate Bill Frist is known to more than nine in 10 Tennessee voters, according to a poll released Tuesday.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 331 19,904
MORTGAGES 0 391 23,305
FORECLOSURE NOTICES 0 83 8,387
BUILDING PERMITS 0 338 40,366
BANKRUPTCIES 1 232 13,336
BUSINESS LICENSES 0 76 6,213
UTILITY CONNECTIONS 0 125 13,120
MARRIAGE LICENSES 0 94 4,936

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