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VOL. 123 | NO. 209 | Friday, October 24, 2008

First Horizon to Get $866M From US Treasury

First Horizon announced Friday that it has received preliminary approval from the Treasury Dept. to participate in the department’s Capital Purchase Program. The announcement came exactly one week after the Memphis company reported a third quarter 2008 loss of $118.3 million.

Local Crime Fuels Thriving Security Sector

The typical customer at Rangemaster firing range is not who you might think.

UPS Reports Drop in 3Q Profit

ATLANTA (AP) - UPS Inc.'s third-quarter profit fell nearly 10 percent despite a rise in sales, the world's largest shipping carrier said Thursday as it warned that it faces more challenges ahead, job cuts may be on the horizon and the "scope and the size" of a deal it is working out to carry some packages for rival DHL could change.

Saddle Creek Approval Anticipated in Early ’09

Poag & McEwen Lifestyle Centers intends to submit revised plans to Germantown city officials in about a month that give an updated look at a $250 million project the company is developing on 35 acres in the Memphis suburb.

White House: Next Week's GDP Rate Will Not Be Rosy

WASHINGTON (AP) - The White House said Thursday the economy will remain gloomy through at least the end of the year, inching closer toward a recognition the United States is in a recession.

Local Weather
Currently
Memphis, TN
83.0°F
Partly Cloudy
Wind: South at 9.2 mph
Humidity: 74%

EVENTS

The Memphis Bar Association in conjunction with the American College of Trial Lawyers will host the 3rd Annual Professionalism, Civility and Courtesy Seminar today from 9 a.m. to 12:15 p.m. in Room 252 of the University of Memphis Cecil C. Humphreys School of Law. The seminar is worth three hours of dual continuing legal education credit. To register, visit www.memphisbar.org.

more events »

Taylor Set to Begin Presidency Of Tenn. Association of Realtors

A 28-year veteran of the real estate industry and the owner of a successful realty company, Fontaine Taylor achieved another milestone in her career when she was elected 2009 president of the Tennessee Association of Realtors (TAR).

IRS Withdraws Tax Assessment For FedEx

FedEx Corp. announced Wednesday that the Internal Revenue Service has withdrawn a tentative tax assessment of $319 million filed against the delivery company’s trucking division for its operations in 2002.

US Devising Home Refinance Aid Plan

WASHINGTON (AP) – U.S. government regulators told Congress Thursday they are working on a plan that could help many distressed homeowners escape foreclosure in a global financial crisis that former Federal Reserve Chairman Alan Greenspan warned will get worse before it gets better.

Bennigan's to Focus on Pub Fare Post-Bankruptcy

NEW YORK (AP) - Bennigan's diners can expect a bigger emphasis on booze, burgers and other bar and grill fare in the days and months to come, the new owner of the chain said Thursday.

NY Times 3Q Profits Down 51 Pct, Beats Estimates

NEW YORK (AP) - The New York Times Co. reported Thursday that its third-quarter profit skidded 51 percent lower, but still beat Wall Street estimates as the newspaper industry continues to suffer from advertising reductions accelerated by a worsening economy.

Bristol-Myers Triples 3Q Profit on Business Sale

TRENTON, N.J. (AP) - Bristol-Myers Squibb Co. said Thursday its third-quarter profit tripled, mainly because of a big gain from selling its high-tech wound care business.

Sallie Mae CEO Hoping for Credit Thaw

WASHINGTON (AP) - The chief executive of Sallie Mae said Thursday that despite government assistance, continued stress in the credit markets and the tough economy continue to weigh on the nation's largest student lender.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 68 321 13,763
MORTGAGES 79 340 15,906
FORECLOSURE NOTICES 20 44 2,183
BUILDING PERMITS 265 765 28,522
BANKRUPTCIES 49 227 8,877
BUSINESS LICENSES 28 113 4,678
UTILITY CONNECTIONS 25 118 5,511
MARRIAGE LICENSES 16 73 2,967

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