The Commercial Appeal (Memphis, TN) articles from April 2001

The Commercial Appeal (Memphis, TN) archives from April 2001

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
April 1, 2001... Byline: David Flaum Apr. 1--Sarah Haizlip calls retirement "kind of a childhood without adult supervision." That is, retirees must make decisions about how to use their time and their money, often without anyone to tell them what is...

Birmingham, Ala.-Based Regions Financial Buys Memphis, Tenn.-Based Firm.
April 2, 2001... Byline: David Flaum Mar. 30--Morgan Keegan Inc. shareholders overwhelmingly endorsed the sale of the Memphis-based investment firm to Regions Financial Corp. of Birmingham for $27 a share at a special meeting Thursday. The deal,...

Memphis, Tenn., Electronic Transaction Company to Cut Jobs.
April 2, 2001... Byline: David Flaum Mar. 30--Concord EFS Inc. of Memphis will slash 250 jobs, or 10 percent of its workforce -- including about 100 positions in Memphis -- over the next year and take a charge against first-quarter earnings of $75 million...

Memphis, Tenn., Consumers Warned about Scam Artists.
April 2, 2001... Byline: Linda A. Moore Mar. 30--It's no mystery how scam artists get your money. The trick is to keep them out of your pocket. With that in mind, officials with the FBI, the Postal Service and area consumer reporters presented the...

Memphis, Tenn., Groups Help Businesses Improve Plans, Processes.
April 2, 2001... Byline: Mark Watson Mar. 30--If certain failed dot-coms had used organizations such as the Greater Memphis Association for Quality to help improve their processes, those companies might still be thriving. So says Dr. Brian Janz,...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
April 2, 2001... Byline: Linda A. Moore Mar. 30--To say I don't like gadgets isn't entirely true. Back in the days when my sewing machine hummed, I loved the little bits of plastic and metal that made sewing easier. In particular, I loved the...

Tennessee Investigates McNairy County, Tenn., Insurance Claim Processor.
April 3, 2001... Byline: Christopher Barton Apr. 3--The state is investigating a McNairy County, Tenn., company that processed payroll and insurance claims until it shut down last week. Selmer-based Progressive Systems Inc., which employed about 30...

Memphis, Tenn.-Area Jobless Rates Drops in February.
April 3, 2001... Byline: Christopher Barton Apr. 3--Area unemployment rates dropped significantly in February, showing that the region's economy is still strong, one state economist said. Shelby County's unemployment rate dropped from 4.2 percent in...

Bankruptcy Hearing for Tennessee-Based Medical Management Firm Takes Place.
April 4, 2001... Byline: David Flaum Apr. 4--Threats that at least one physician practice would cancel its management contract with Response Oncology Inc. forced Memphis-based company to seek bankruptcy protection, the firm's top executive said Tuesday in...

Memphis, Tenn.-Based Resort Manager Acquires Florida Firm.
April 4, 2001... Byline: Jerome Obermark Apr. 4--ResortQuest International, a Memphis-based company that manages and markets 19,000 privately owned vacation and resort homes and condos in 45 markets in North America, reported it has acquired a company...

Memphis, Tenn.-Area Group Honors Workers at Power Take-Off Plant.
April 4, 2001... Byline: Mark Watson Apr. 4--A "power take-off" device diverts a commercial vehicle's mechanical energy from its transmission to a special unit, such as a hydraulic lift or large drill. At the Dana Chelsea Power Take-Off Manufacturing...

Memphis, Tenn., Hosts Biomedical Engineering Conference.
April 5, 2001... Byline: Mark Watson Apr. 5--Building a successful, sustainable biomedical engineering company requires a process no less methodical and exact than launching a rocket into outer space. So says Mark Harbaugh, director of research...

Memphis, Tenn., Business Leaders Remain Optimistic About E-Commerce Future.
April 5, 2001... Byline: Mark Watson Apr. 5--PlanetRx.com's planned sale of all assets and Response Oncology's decision to file Chapter 11 bankruptcy does not diminish Memphis's future as a center of electronic commerce and health care. That's the...

Students Take Part in Career Opportunity Fair in Memphis, Tenn.
April 5, 2001... Byline: Christopher Barton Apr. 5--While the labor market remains tight in some sectors of the economy, many soon-to-be graduates are anxious about their prospects for good jobs this summer. More than 350 students from 19 colleges in...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
April 5, 2001... Byline: David Flaum Apr. 5--QUESTION: I have a conventional IRA, which I started contributing to in 1982, making some deductible and some non-deductible contributions through 1996 when I retired. At the end of 2000, the IRA balance was...

New Store to Open in Memphis, Tenn., Studies What Women Want.
April 5, 2001... Byline: Linda A. Moore Apr. 5--Inner Self, scheduled to open today at Wolfchase Galleria will bring to Memphis a retail concept that's a work in progress. The new store has made a study of analyzing what women want when they shop and...

Memphis, Tenn., School Teaches Art of Cosmetics.
April 6, 2001... Byline: Linda A. Moore Apr. 5--With unflinching calmness Donna Driscoll settled in while student, Donna Shivers, began carefully darkening her eyebrows. Shivers, was working under the guidance of Polly Dogan, owner of the newly opened...

Beleaguered FedEx Executives Address Financial Analysts in Memphis, Tenn.
April 6, 2001... Byline: Richard Thompson Apr. 6--Make no mistake, Memphis- based FedEx Corp. is a wounded army. Domestic express package shipments, its primary core business, are expected to drop 4.4 percent in March. That's a continuing decline that...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
April 6, 2001... Byline: Linda A. Moore Apr. 5--WE'VE ALL DONE IT -- bought something we don't need. At this very moment I've got a trio of flower pots at home purchased three weeks ago that I now just look at and scratch my head. Thank goodness...

Parent of Knox County, Tenn., Bank to Buy Subsidiary of Counterpart.
April 8, 2001... Apr. 7--National Commerce Bancorporation, parent company of National Bank of Commerce, announced Friday it has an agreement to acquire First Vantage Bank-Tennessee, a subsidiary of First Virginia Banks Inc., with 10 branches and $168 million in...

Manufacturing Firm to Close Plant in Covington, Tenn., Lay Off 45.
April 8, 2001... Byline: Christopher Barton Apr. 7--Manchester, Conn.-based Lydall Inc. said it is closing its 180,000-square-feet manufacturing plant in Covington, Tenn., and eliminating 45 jobs. Meanwhile, local business leaders said Friday that...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
April 8, 2001... Byline: David Flaum Apr. 7--You've set your retirement goals, gone over income and expenses, built a budget, reviewed your insurance and updated your estate plan. You're ready to decide how to invest what you have to fit in with your...

Memphis, Tenn., Religious Retail Firm to Close after 23 Years.
April 8, 2001... Apr. 7--For more than 20 years M & W Church Goods at 16 N. McLean has been serving the area's religious community. But owner Wanda Whitehead's decision to close will take from the city's business community an operation with roots that go...

Northwest Airlines Reaches Tentative Agreement with Mechanics Union.
April 10, 2001... Byline: Richard Thompson Apr. 10--Northwest Airlines Corp. reached a tentative agreement with the union representing its 9,795 aircraft mechanics, cleaners and custodians on Monday. And while it might not be the "industry-changing"...

Little Rock, Ark.-Based Food Distributor to Open Center in Batesville, Miss.
April 10, 2001... Byline: Christopher Barton Apr. 10--A Little Rock-based food distributor plans to invest $15 million to open a center in Batesville, Miss. Quality Foods Inc. said it has bought a former Kroger Co. distribution center and plans to...

Political Tension with China Fails to Impact International Business of FedEx.
April 11, 2001... Byline: Christopher Barton Apr. 11--While diplomatic tensions mounted between the United States and China over Chinese authorities' decision to detain the crew of a United States spy plane, the ordeal is not impacting business with global...

Car Sellers Take Advantage of Memphis, Tenn., Flea Market Crowds.
April 11, 2001... Byline: Linda A. Moore Apr. 11--Go to the flea market and come back with a car. The Memphis Flea Market, The Big One, which offers customers countless items from 800 to 1,000 vendors, has added another product to the mix. Auto Row...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
April 12, 2001... Byline: David Flaum Apr. 11--Use formula to figure gains on jointly owned home QUESTION: My mother passed away in September, and we were joint owners of her house. When she died, I had to submit the will to probate court as deed to...

Memphis, Tenn.-Based Oncology Groups Merge to Form 11-Doctor Practice.
April 12, 2001... Byline: Christopher Barton Apr. 11--Two Memphis oncology groups have merged and could lease up to 50,000 square feet of office space in the Medical Center area in the next year. The Boston Cancer Group and Cancer Specialty Clinic have...

Philip Morris Visits Memphis, Tenn., University on Campaign for New Image.
April 12, 2001... Byline: Linda A. Moore Apr. 11--Philip Morris executive Jay Poole doesn't deny that his company sells a deadly product and that people shouldn't smoke. He also doesn't deny that the tobacco company has done things wrong in the past....

Memphis, Tenn.-Based Vacation Property Management Firm Adds More Units.
April 12, 2001... Byline: Jerome Obermark Apr. 11--ResortQuest International Inc., (RZT) a Memphis-based vacation property management company, announced two more acquisitions Wednesday, which added vacation rental properties in North Carolina and Colorado....

Firearms Manufacturer Unveils Memphis, Tenn., Distribution Facility.
April 12, 2001... Byline: Christopher Barton Apr. 11--Madison, N.C.-based Remington Arms Co. Inc./Stren Fishing Lines today will tout its new distribution center in Memphis. "Locating in Memphis has placed us within two days shipping time for most of...

New York Analyst Offers Positive Economic Outlook in Memphis, Tenn., Visit.
April 13, 2001... Byline: David Flaum Apr. 13--We're not in a recession, and, in fact, the economy will improve quite nicely the rest of this year. That's the view of Gail Fosler, chief economist of The Conference Board, a New York-based research and...

Tissue Company Reopens Memphis, Tenn., Plant.
April 13, 2001... Byline: Christopher Barton Apr. 13--William Shumpert of Memphis pulls off the excess white fluff from a mammoth tissue roll weighing about 5,500 pounds. He pushes a few buttons and the roll drops down on its way to another machine. A...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
April 13, 2001... Byline: Linda A. Moore Apr. 13--ECONOMIC WORRIES DON'T STOP HOLIDAY SPENDING: Some people aren't going to let an economic downturn spoil a good Easter egg hunt. At least, that's what the National Retail Federation thinks. The NRF,...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
April 16, 2001... Byline: David Flaum Apr. 14--QUESTION: My friend and I are joint owners of the house we bought last year. We each pay half of the monthly mortgage payment which includes insurance and taxes. When we received the form from the mortgage...

Hershey Foods To Invest in New Equipment for Memphis, Tenn., Candy Factory.
April 17, 2001... Byline: Christopher Barton Apr. 17--Hershey, Pa.-based Hershey Foods Corp. plans to invest $2.7 million in new equipment at its Memphis candy factory. The company, which already has 312 employees in Memphis, plans to create 45 jobs in...

Federal Order Halts Shipping at Memphis, Tenn.-Based E-Commerce Firm.
April 18, 2001... Byline: Christopher Barton Apr. 17--The U.S. Department of Labor has halted a Memphis-based E-commerce firm from shipping products after the company allegedly stopped paying workers and fired most of its 80-member staff. Officials at...

Tennessee-Based Financial Services Firm Reports 56 Percent Jump in Earnings.
April 18, 2001... Byline: Jerome Obermark Apr. 17--First Tennessee National Corp. reported a turnaround first quarter Tuesday highlighted by a 56.6 percent increase in earnings per share and revenue growth of 29 percent. Earnings (before the affect of...

Harrah's Entertainment to Close Memphis, Tenn., Call Center.
April 18, 2001... Byline: Linda A. Moore Apr. 17--Harrah's Entertainment Inc. is closing its Memphis Teleservices Center at 850 Ridge Lake, eliminating 143 jobs. Employees were told Tuesday that they will work through April 22 and will receive pay and...

National Commerce Bancorporation's Meeting in Memphis, Tenn., Has Full Agenda.
April 19, 2001... Byline: David Flaum Apr. 19--A new name, seven directors and a short-term incentive compensation plan will be up for votes at the National Commerce Bancorporation annual shareholder's meeting Wednesday at 10 a.m. in the auditorium at One...

Memphis, Tenn., Native Settles in as Editor of Men's Journal.
April 19, 2001... Byline: Linda A. Moore Apr. 19--Sid Evans planned, when he left Memphis for college "up North" to get a taste of something different and come home. But Evans, 31, never moved back to Memphis and says he won't anytime soon. The...

Steel Company Looks to Sell Closed Memphis, Tenn., Mill.
April 19, 2001... Byline: Christopher Barton Apr. 19--While Birmingham Steel Corp. continues to look for a buyer of its closed steel mill in Memphis, city and county officials will soon rethink the company's multimillion-dollar tax abatement. The...

Memphis, Tenn.-Based Service Provider for Eye Doctors Files for Bankruptcy.
April 19, 2001... Byline: Mark Watson Apr. 19--Memphis-based VisionAmerica Inc. has filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code. A company that provides facilities and services to eye doctors and optometrists,...

Labor Department Won't Discuss Investigation of Memphis, Tenn.-Based Web Firm.
April 19, 2001... Byline: Christopher Barton Apr. 19--The U.S. Department of Labor refused to comment Wednesday about its investigation into a Memphis-based E-commerce firm that it forced to shutdown. Government officials visited 3Re.com on Monday and...

Memphis, Tenn., Online Pharmacy Firm Works against Flood of Lawsuits.
April 19, 2001... Byline: Mark Watson Apr. 19--Memphis's PlanetRx.com has been transformed from an online pharmacy to an off-line legal case. Its latest annual report filed with the Securities and Exchange Commission says that its remaining employees...

Memphis, Tenn.-Based Cancer Treatment Firm To Close 11 Centers.
April 20, 2001... Byline: David Flaum Apr. 20--Response Oncology Inc. lost more than $14 million last year, most of it in the final three months of 2000, and the Memphis-based cancer treatment company plans to close at least 11 more treatment centers,...

United Airlines Downgrades from Boeing to Regional Jets on Six Routes.
April 20, 2001... Byline: Richard Thompson Apr. 20--Chicago-based United Airlines is downgrading its jet service between Memphis and the Windy City from large Boeing 737s to smaller Canadair Regional Jets (CRJs), starting July 9. Memphis is one of six...

Memphis, Tenn.-Based Union Planters Bank Shareholders Reject Merger Plan.
April 23, 2001... Byline: David Flaum Apr. 20--Union Planters Corp. shareholders Thursday overwhelmingly voted down a stockholder proposal to require directors to look for a buyer or merger partner for the Memphis-based bank holding company. About 10...

Black Enterprise Conference Moves to Nashville, Tenn., from Florida.
April 23, 2001... Byline: Linda A. Moore Apr. 21--The 6th Annual Black Enterprise/Bank of America Entrepreneurs Conference has moved from Florida to Nashville. The conference, May 15-20 at the Opryland Hotel, will bring to Tennessee leading chief...

Memphis, Tenn.-Based Cellulose-Products Firm Trims Costs.
April 23, 2001... Byline: Christopher Barton Apr. 20--Memphis-based Buckeye Technologies Inc. is cutting costs after reporting a slim quarterly profit, but the company hopes to avoid layoffs. The company also is cutting bonuses to its executives. In...

Germantown, Tenn., Firm Helps Financial Services Company Launch New Service.
April 23, 2001... Byline: Mark Watson Apr. 21--Baltimore-based retail financial broker Legg Mason Wood Walker has launched a new account aggregation service powered by Germantown-based uMonitor Inc.'s system. Called Legg Mason Total Picture, the service...

Memphis, Ten..-Based Hotel Real Estate Firm Starts Dividend Plan.
April 23, 2001... Byline: Jerome Obermark Apr. 20--RFS Hotel Investors Inc., a Memphis-based real estate investment trust that owns 59 hotels with 8,600 rooms in 24 states, announced Thursday it has established a dividend reinvestment plan. Its Dividend...

Memphis, Tenn.-Based Tech Firm Supplies Clinics with New Records Systems.
April 23, 2001... Byline: Mark Watson Apr. 20--Physicians and patients often idealize their relationship as being more about human kindness than about business, but for a private medical practice to survive, it must operate as a business. And businesses...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
April 23, 2001... Byline: David Flaum Apr. 21--QUESTION: In the example you used in a recent column on rule changes on mandatory distributions from IRAs, at age 70 1/2 you said $100,000 would require a distribution of $3,817 the first year. If the accounts...

Memphis, Tenn., Businesses Hear about Microsoft's New Software Platform.
April 23, 2001... Byline: Mark Watson Apr. 21--A new computer software platform designed to make the development of new software applications faster, easier and more broadly usable drew the curiosity of about 40 people for lunch Friday. At Quilogy, a...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
April 23, 2001... Byline: Linda A. Moore Apr. 20--Income tax deadlines have passed, and many of you will be looking for an envelope from the U.S. Treasury Department. Some of you may have already gotten and spent that tax return money, while others are...

Gas Prices Rise in Shelby County, Tenn.; May Reach Record Levels This Summer.
April 24, 2001... Byline: Christopher Barton Apr. 24--Gas prices in Shelby County have increased 20 cents per gallon this month in April and matched a record high set in June, according to AAA Auto Club South in Memphis. "Right now, it's looking like we...

Nashville, Tenn.-Based Entertainment Company Names Two Top Executives.
April 25, 2001... Byline: Jerome Obermark Apr. 24--Two former executives with Holiday Corp. when it was based in Memphis have been named to top positions with Gaylord Entertainment Co., the Nashville-based parent company of Opryland Hotel and the Grand Ole...

Some Memphis, Tenn., Laundromats Increase Prices to Cover Energy Costs.
April 25, 2001... Byline: Linda A. Moore Apr. 25--Everybody felt the sting of higher energy prices this winter. Some consumers may be feeling that bite elsewhere, as area coin-operated laundries increase prices to cover the escalated costs of doing...

Memphis, Tenn.-Based Resort Firm Reports Record First-Quarter Earnings.
April 25, 2001... Byline: Jerome Obermark Apr. 25--ResortQuest International Inc., a Memphis-based company that manages about 20,000 vacation properties in 46 markets, reported record first quarter earnings per diluted share of 23 cents, up 53 percent. ...

Memphis, Tenn., Utility Grants Incentive Payments to 2,600 Employees.
April 25, 2001... Byline: Tom Charlier Apr. 25--Most of the Memphis Light, Gas & Water Division's nearly 2,600 employees received incentive payments of up to $1,000 with their most recent paychecks as a reward for helping the utility achieve several goals...

Memphis, Tenn., Airport Able to Keep Flights On Time.
April 26, 2001... Byline: Richard Thompson Apr. 26--At Memphis International Airport, less than 0.1 percent of flights were delayed for more than 15 minutes in 2000, according to a report released Wednesday by the Federal Aviation Administration. In...

Shareholders of Tennessee Bank May Elect Shelby County Mayor to Board.
April 26, 2001... Byline: David Flaum Apr. 26--Shelby County Mayor Jim Rout is expected to be elected to the board of Cumberland Bancorp Inc. today when shareholders meet at BankTennessee, the company's Collierville-based subsidiary. Rout, 58, has been...

Oxford, Miss.-Based Financial Software Company Succeeds.
April 26, 2001... Byline: Mark Watson Apr. 26--OXFORD, MISS.--If the walls of 606 Van Buren Ave. could talk, they might bend your ear about the big changes they've seen in the past two years or so. That's the headquarters of FNC Inc., a financial...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
April 26, 2001... Byline: Linda A. Moore Apr. 26--Who wouldn't jump at the chance for a credit card at a lifetime rate of eight percent? Well, if you get a call for such an offer, officials with the Better Business Bureau of the Mid-South suggest that...

Memphis, Tenn.-Based Brokerage Promotes Executive.
April 27, 2001... Byline: David Flaum Apr. 27--One Morgan Keegan & Co. executive was promoted to second in command at the Memphis-based brokerage firm Thursday, and another executive has left the firm. G. Douglas Edwards, 49, became vice chairman and...

Study Shapes Common Economic Goals for Memphis, Tenn., Tri-State Area.
April 27, 2001... Byline: Christopher Barton Apr. 27--After more than two years of meetings, a steering committee next month expects to release a study on how Memphis's tri-state region can unite on common issues. The Governors' Alliance for Regional...

Jobless Rates Remain Stable in Tennessee.
April 27, 2001... Byline: Christopher Barton Apr. 27--Tipton County's unemployment rate edged up slightly in March, but other area counties' rates were down. Shelby County's unemployment rate dropped from 3.6 percent in February to 3.5 percent in March,...

Memphis, Tenn.-Based Transactions Processing Firm Posts Loss.
April 27, 2001... Byline: David Flaum Apr. 27--Costs of digesting acquisitions left Concord EFS Inc. with a loss in the first quarter, the company reported Thursday. The Memphis-based transactions-processing company lost $26 million or 11 cents a share...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
April 27, 2001... Byline: Linda A. Moore Apr. 27--LEASING A CAR? TAKE YOUR TIME, READ THE FINE PRINT: Want to drive what you otherwise could not afford? Leasing may be the way to go. Monthly payments are low. You can drive a new car every two...

Memphis, Tenn., Man Starts Business Start-Up Consulting Company.
April 28, 2001... Byline: Mark Watson Apr. 28--After 12 years of helping entrepreneurs start businesses, Sam Pruett has decided to start his own consulting business. "Gosh, if I don't have some of that entrepreneurial spirit rub off on me after all...

Three Men Plan to Open Denny's Restaurant in Memphis, Tenn.
April 28, 2001... Byline: Christopher Barton Apr. 28--Despite Denny's past controversies with racial discrimination, three African-American businessmen plan to open a restaurant in the chain across from AutoZone Park. Local entrepreneur Frank Banks said...

Downers Grove, Ill.-Based Maintenance Services Company Seeks Growth.
April 28, 2001... Byline: Linda A. Moore Apr. 28--The new president and chief executive officer of ServiceMaster told stockholders Friday about his plans to boost their stock's value, including a review of all of the company's businesses with an eye toward...