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VOL. 126 | NO. 38 | Thursday, February 24, 2011

Builders Struggle to Turn ‘Lookers’ Into Buyers

While Shelby County builders filed just 24 permits last month – a 41.5 percent decrease from 41 permits in January 2010 – industry professionals are confident the numbers will be corrected by the close of the first quarter as the weather improves.

Hybrid Luxury

Lexus of Memphis bets on fuel-efficient demand

With gas selling at $3 a gallon, the staff at Lexus of Memphis gathered earlier this month for a training session.

GTx Reports Q4 Loss, But 2010 Profit

Memphis-based biopharmaceutical company GTx Inc. Thursday reported a $7.5 million net loss in the fourth quarter, but posted a $15.3 million profit for the full-year, ended Dec. 31.

Commission Finds Surprises in Countywide School Board District Lines

Shelby County commissioners got their first detailed look Wednesday at district lines for a proposed 25-member countywide school board.

Local Office Latest Proof Of M&P’s Growth Mode

Merchants & Planters Bank has something in common with a few of its local lending peers like BankTennessee and Evolve Bank & Trust.

Local Weather
Today
Memphis, TN
61°F
Partly Cloudy
Wind: 6 mph
Humidity: 64%

EVENTS

Westminster Academy will host a mini open house for parents of prospective students Thursday from 10 a.m. to 11 a.m. at its campus, 2500 Ridgeway Road. For more information, call 380-9192 or visit www.wamemphis.com.

more events »

County Commission Committee Recommends Mitsubishi Incentives

The Shelby County Commission’s economic development & tourism committee has recommended approval of the county contributing $1 million to the financial incentives for Mitsubishi Electric Power Products Inc., which is building a new transformer manufacturing plant in Memphis.

Local U.S. Attorney Forms Civil Rights Unit

A new civil rights unit in the office of the U.S. Attorney for the Western District of Tennessee will build on a substantial record of official misconduct, civil rights conspiracy, hate crimes and similar cases the office has prosecuted for decades.

Drug Case Gets Stranger With Plea Revelation

It is not unusual in Memphis federal court for a grand jury indictment to be sealed by a judge. And there are times when a guilty plea may be sealed.

GTx Reports Q4, Full-Year Financial Results

GTx, Inc. (Nasdaq: GTXI) today provided a company update and reported financial results for the fourth quarter and full year 2010.

Former Litigator Winsett Now Helps Lawyers Find Jobs

Studying law runs in Estelle Winsett’s blood.

Fire the Spouse, Keep The Financial Planner

Ray’s Take: Divorce is never pleasant, yet for some it is a fact of life. As hard as both parties try to forge a happy marriage, sometimes it doesn’t work.

Quintessential Pro Se Brie

Let’s start by quoting some reader mail:

STATE LEGISLATURE

GOP Taking Longer to Study Closed Tenn. Primaries

NASHVILLE (AP) – A state Republican Party panel assigned to study a proposal to require party registration to vote in Tennessee primaries is taking more time to consider the idea.

Tenn. Senate Passes 'Health Freedom Act'

NASHVILLE (AP) – The Republican-controlled Senate passed a measure Wednesday that would allow Tennesseans to opt out of the federal health care law despite opposition from some who say the proposal is unnecessary and pure politics.

Lawmakers' Bill Equates Shariah With Terrorism

NASHVILLE (AP) – Republican state lawmakers have proposed a bill that would make following the Islamic code known as Shariah law a felony punishable by 15 years in jail.

REAL ESTATE

Retailers: Home Owners Spending More on Renovation

NEW YORK (AP) – Home owners are starting to spend more on home-improvement projects despite the weak housing market, quarterly results from Lowe's Cos. and Home Depot show.

NATIONAL BUSINESS

Troubled Banks Rise to Highest Level in 18 Years

WASHINGTON (AP) – The number of banks at risk of failing made up nearly 12 percent of all federally insured banks in the final three months of 2010, the highest level in 18 years.

Consumer Comeback Skips Wal-Mart's Aisles

NEW YORK (AP) – Wal-Mart is missing out on the consumer comeback.

NATIONAL POLITICS

Obama Names Business, Labor Leaders to New Council

WASHINGTON (AP) – President Barack Obama is naming leaders from business and labor to his newly created jobs and competitiveness council.

Fed Official Mulls Early End to Bond-Buying Plan

WASHINGTON (AP) — A Federal Reserve official says he may push for an early end to the central bank's $600 billion bond-purchase program if inflation shows signs of spreading.

Foreclosures, Cash Deals Lifted January Home Sales

WASHINGTON (AP) – More people bought previously occupied homes in January. But sales surged on a rising number of foreclosures and all-cash deals, and not first-time home-buyers.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 57 307 5,073
MORTGAGES 101 483 6,709
FORECLOSURE NOTICES 22 77 1,556
BUILDING PERMITS 0 720 11,979
BANKRUPTCIES 84 341 5,300
BUSINESS LICENSES 36 125 2,061
UTILITY CONNECTIONS 152 594 7,058
MARRIAGE LICENSES 36 117 1,458

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