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VOL. 125 | NO. 218 | Tuesday, November 9, 2010

State Rep. Ulysses Jones Jr. Dies

Veteran state representative Ulysses Jones Jr. of Memphis has died.

Corker in the Crosshairs

In a Wall Street Journal article earlier this month about Republican U.S. senators whom the “tea party wants to ambush” in 2012, Bob Corker’s picture was included with that of a few other moderate Republicans.

Council Hears Wharton’s MCS Funding Plan

Memphis Mayor A C Wharton Jr. pitched the general outline of an eight-year $55 million payout to Memphis City Schools to City Council members Tuesday afternoon.

GTx Cuts Loss, Gets More Capital

Memphis-based GTx Inc. completed its public offering of additional stock with help from another major investment by Joseph R. “Pitt” Hyde III.

Center City Board Approves Pyramid Financing

At the city of Memphis’ request, the Center City Revenue Finance Corp. Tuesday morning decided to issue up to $125 million in bonds to redevelop The Pyramid arena and surrounding Pinch District.

Housing Market Tumbles 21 Percent

While October’s home sales are down – 21 percent from the same month a year ago – many local real estate agents are ramping up their marketing efforts to increase their customer base.

BlueCross BlueShield Subsidiary Lays Off Workers

Twenty-two Memphis employees have lost their jobs as part of a work force reduction by BlueCross BlueShield of Tennessee to save costs on its subsidiary that contracts with TennCare.

Goetz Exits Governor’s Office

As Tennessee Gov. Phil Bredesen prepares to leave office at the end of the year, another member of his cabinet has left.

New Chairman, Anti-Discrimination On Deck for Council

Council member Bill Boyd is favored to become the next City Council chairman when council members vote Tuesday.

Reichling Settles Into Corps of Engineers Post

Col. Vernie Reichling grew up in a military family, but it wasn’t until he spent a week with his uncle, a colonel in the U.S. Army, at Fort Bragg, N.C., one summer during junior high that Reichling felt his true calling to join up.

Who Will Dance First in The Economic Recovery?

Editor’s Note: DiNicolantonio is the West Tennessee area president for Regions Bank.

Ryan’s Property in Millington Sells for $1.6 Million

8165 U.S. Highway 61 N., Millington, TN 38053, Sale Amount: $1.6 million -
Fresno, Calif.-based DPI Group LLC has bought Ryan’s restaurant property at 8165 U.S. Highway 51 North from FIGRYANH LLC for $1.6 million. The deal closed Oct. 15.

Why People Buy – The Psychology Behind ‘Yes’

It takes more to get a “yes” from a prospect than a strong product with compelling benefits. The psychology behind buying is complex.

GOVERNMENT AGENDA

Memphis City Council Agenda

The Memphis City Council will meet today at 3:30 p.m. in the Council chambers in City Hall, 125 N. Main St. Click on the meeting icon for a full agenda.

REAL ESTATE

Homeowners Say Loan Mods Led Them to Foreclosure

LOS ANGELES (AP) – Grocery store owners William and Esperanza Casco were making enough money to stay current on their mortgage, but when JPMorgan Chase & Co. offered a plan that reduced their payments, they figured they could use the extra cash and signed up.

NATIONAL BUSINESS

AmEx Promotes 'Small Business Saturday'

NEW YORK (AP) – Hoping to drum up support for independent merchants, American Express' CEO said Monday that his company will promote "Small Business Saturday" on the weekend after Thanksgiving.

Retail Gas Prices Rise as Thanksgiving Prep Begins

Retail pump prices are heading back toward their high for the year as Americans map out their plans for Thanksgiving.

Broadband Usage Growing Even as Gaps Persist

WASHINGTON (AP) – The U.S. still faces a significant gap in residential broadband use that breaks down along incomes, education levels and other socio-economic factors, even as subscriptions among American households overall grew sevenfold between 2001 and 2009.

Small Banks Failing as Larger Firms Regain Health

WASHINGTON (AP) – U.S. banks are failing at the fastest rate in two decades.

Monopoly Game Pushes McDonald's October Sales

OAK BROOK, Ill. (AP) – A Monopoly promotion and strong sales of basic menu items such as the Big Mac helped push a key sales figure up 5.6 percent in the U.S. for McDonald's Corp. during October.

IHOP, Aramark Plan More College Restaurants

GLENDALE, Calif. (AP) – Casual dining chain International House of Pancakes LLC is planning to develop more restaurants on college campuses with partner Aramark.

NATIONAL POLITICS

Obama Sidesteps Question on Fed Monetary Policy

NEW DELHI (AP) – President Barack Obama has sidestepped a question of whether the Federal Reserve may have weakened the value of the dollar by purchasing $600 billion worth of government bonds to aid the economy.

Bernanke Defends New Fed Plan to Boost Economy

JEKYLL ISLAND, Ga. (AP) – Federal Reserve Chairman Ben Bernanke defended the Fed's new $600 billion program to aid the economy on Saturday, rejecting concerns that it will spur runaway inflation.

Court Seems Divided on Taxing Medical Residents

WASHINGTON (AP) – The Supreme Court on Monday seemed divided on whether student doctors are students or employees when it comes to collecting Social Security taxes.

Fed Survey: New Standards Don't Lure Small Firms

WASHINGTON (AP) – Banks loosened lending standards for small businesses over the past three months but demand for loans remained weak, the Federal Reserve said Monday.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 128 128 17,998
MORTGAGES 155 155 20,990
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 149 149 36,765
BANKRUPTCIES 60 60 11,985
BUSINESS LICENSES 19 19 5,696
UTILITY CONNECTIONS 49 49 12,297
MARRIAGE LICENSES 40 40 4,518

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