News - Thursday, February 19, 2009

The Main Street Journal Website

News - Thursday, February 19, 2009

Memphis City Government: With the court rulings on school funding and ADA compliance at the Liberty Bowl, the City must now plug a $100 million hole ripped in the budget.


Dr Trent Pierce: He has no memory of the near-fatal explosion. More from Eyewitness News.


Metropolitan Inter-Faith Association: They have received a $10,000 grant from the MGM Mirage Voice Foundation.


DeSoto County: Thanks to budget cuts, the County District Attorney’s office may have to layoff important members of the office. The Horn Lake - Walls annexation court fight turns ugly. And a motor home in Hernando is causing a ruckus. The Regional Utility Authority has its job made easier.


UPDATE: Stanford Group: A class action lawsuit has been filed. A breakdown of the charges, from the Daily News. Two Memphis officers of Stanford arrested. Stanford has many local charitable ties. Local financial leaders react to the investigation, via the Business Journal. Tips from professionals on what to do now. From the Flyer, the FBI was not involved in the operation yesterday. State Senator Paul Stanley, an employee of Stanford, had his offices searched yesterday but is not a subject of inquiry himself. Spring Creek Ranch golf course, co-owned by Stanford, says it hasn’t been affected.

US Marshalls raid Stanford’s Houston offices. Memphis offices are raided as well. SEC calls it ‘massive ongoing fraud’. More from the Wall Street Journal, the Memphis Business Journalthe Flyer, Fox13, WMC, Daily News; WREG here and here. And, of course, the Commercial Appeal.


Memphis City Council: The employee buyout plan approved this week is different than the one first proposed. The option was withdrawn for “full-time elected leaders and division directors or their deputy directors.”


ARKANSAS: Senate prepares to vote on partial-birth abortion legislation. Supporters of a lottery say they want it run more like a business than as a government agency.


University of Tennessee: President John Petersen, already under fire and poorly rated, has resigned. He goes on immediate leave and ends his tenure in June. Other stories from Fox13, Daily News.


Industrial Development Board: They are facing litigation from PFS Web relating to a revoked PILOT from 2003. Also, the Board amended 4 PILOTs from other compnaies, including NUCOR. A Shelby County Commission committee approved an array of changes to the PILOT program, including residency and compliance issues. More from the Commercial Appeal, as well as analysis of the jobs and revenue lost to the County.


School Funding: Four local government bodies have to get their ducks in a row, and plan for contingencies, as they move forward toward single-source funding and giving the school systems taxing authority.


Veteran’s Medical Center: Veterans gathered to protest the firing of a clinical psychologist, Dr Sidney Ornduff, the actions of some staff members and the quality of care provided.


MISSISSIPPI: The Blues Archive at the University of Mississippi and Living Blues magazine will receive a Blue Trail marker.


Jerry “The King” Lawler: The fight against local crime has a new hero! Lawler and many more Memphis wrestling alumni will host a special charity event next Saturday.


Appraisers: In the wake of the complaint against appraiser Thomas W. Farris, the Daily News reports there is no system to track who is doing appraisals.


Main Street Journal: Our February 2009 issue is now out! You can peruse the Table of Contents here. Chuck Bates presents Part Two of Socialism Not Seen Since FDR.


Shelby County Commission Vacancy: The list of candidates for David Lillard’s vacant Position 4 seat: John Bogan, Jim Bomprezzi, Rudolph Daniels, Tommy Hart, Linda Kerley, Matt Kuhn, Adrienne Pakis-Gillon, Chris Price, Terry Roland. James Bolden applied but was ruled ineligible due to residency issues. More on the candidates from the Daily News and the Commercial Appeal.


Liberty Bowl: Although the decision is still to be appealed, the court ruling that the stadium must be upgraded to meet ADA standards may mean an additional $100 million to local taxpayers.


Mid-South Fairgrounds: Reportedly, talks between Mayor Willie Herenton and Fairgrounds developer Henry Turley didn’t go far.


POLITICS: House Speaker Kent Williams will be in Memphis this weekend, taking a whirlwind tour of the city; more in the Commercial Appeal. A member of the House wants to legalise the sale of whole horse carcasses; more from WREG. Rep. Jimmy Naifeh was given the title of House Speaker Emeritus; further stories from Fox13. Governor Phil Bredesen says that, even with Federal stimulus money, there will likely still be layoffsp; more from Fox13, the Daily News. Former Senate Majority Leader Bill Frist is starting a grassroots initiative to reform K - 12 education in TN; more from the CA.


BUSINESS: AT&T is adding 50 new cell towers across TN. The FDA has accepted GTx’s application for the drug toremifenerelated GTx story here. The owners of Luther Towers, near the U of M, have filed a $3.2 million trust deed. More on Stringer’s Garden Center’s not selling.

After serving the Bush administration in the Department of Labor, David Prather is returning to private practice in Memphis at Ford & Harrison.

People in Business, from the CA.


American Institute of Architects: Their Architectural Billing Index reached an historic low in January. The ABI is considered a leading economic indicator of future non-residential construction.


Opticians Association of America: They are moving their national HQ to Lakeland.


Memphis Area Legal Services: They will be partnering with Youth Villages to provide legal assistance to young people.


Memphis International Airport: Along with their record-setting cargo handling rating, they are now hosting the Airports Council International–North America Air Cargo conference in March.


University of Memphis: It’s basketball homecoming! The Lady Tigers kick things off Sunday afternoon. This Friday, the campus chapter of the NAACP is holding its Freedom Ball, part of nationwide celebrations of the organisation’s centennial.


Previously Posted: More on the layoffs in the Shelby County Office of Planning and Development.


Survey Says: The Association of Corporate Travel Executives says 71% of companies plan to spend less on travel this year. The Internatonal Air Transport Association says business travel dropped 2.8% in 2008; premium tickets fell even more sharply. The Commerce Department says new home construction dropped almost 17%. The demand for commecial real estate is still dropping; more from the CA. Federal agencies report that industrial production and new housing starts both plunged.



Picture of the Day

Preparing the nursery for the new arrival, from Running With Dice by Jerm. © 2008.


Opinion and Blogs

Notes From Memphis: Blue Fin’s sushi and music. BTW, February is chocolate month!
 


Author of Y’all’s Destruction: A proposal to limit the size of total deposits at banks. Also, soccer (and Fox Sports) blogging.


a semi-charmed kind of life: The real world interferes with blogging.


Geoff Calkins: The Liberty Bowl is a big money pit.


Wendi Thomas: Eating all week for just five dollars is a real challenge, but an illuminating one.


Because I Said So: Moving to a new house is a happy adjustment for this family.


Ashley la Rouge: She’s got a job interview that could mean the start of her career!


Buck’s Blog: Such moments are heart-breakers for parents, but sweet ones.


Long Tall Animals: She had a really nice three-day weekend.
 


Friends for Our Riverfront: Learning the lessons of New York’s streets; and what about public bike rentals for Memphis?


Commercial Appeal: The proof of President Obama’s foreclosure rescue will come soon. Resolve the City - schools funding dispute — it’s for the children!


Musings, Nits and Praises: Hard work alone is not sufficient for that ‘A’.


The Soundcheck & the Fury: He had a good time at the Old Crow Medicine Show at Minglewood Hall.


Downtown Memphis Blog: Heavenly Hoagie on Union, with pic. ‘Nuff said.


Tom Guleff: He links to a great resource for following the money in TN politics.


Steve’s Nude Memphis Blog: He comments on the news and headlines. (Might be marginally unsafe for work.)