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

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

Drop in Gas Prices Gives Holiday Travelers More Spending Money.
July 3, 2001... Byline: Christopher Barton Jul. 3--As gas prices have dropped, Fourth of July holiday travelers are enjoying the additional spending money. Bob and Betty Anderson of Tecumseh, Okla., were happy to cross into Arkansas on Monday...

Memphis, Tenn.-Based Financial Company Restates Earnings Reports.
July 4, 2001... Byline: David Flaum Jul. 4--National Commerce Financial Corp. (NCFC) filed restated earnings going back to 1998 with the Securities and Exchange Commission late Tuesday, showing that profits weren't as large as originally stated because of...

Memphis, Tenn.-Area Residents Buy Special Items for Holiday Meals.
July 4, 2001... Byline: Christopher Barton Jul. 4--Shelia Hudson stood several people deep in line Tuesday afternoon at Southern Meat Market getting ready for a family barbecue today. She had her list ready -- ribs, polish sausage, steaks, chicken...

Millington, Tenn., Hotel Uses Innovative Energy Conservation Techniques.
July 5, 2001... Byline: Mark Watson Jul. 5--Along a row of motels on U.S. 51 in Millington, near the Naval Support Activity MidSouth, concrete parking lots reflect the heat onto pedestrians like a solar oven. Entering one of the rooms of Magnolia Inn...

Wal-Mart Offers Mexican Fare in Memphis, Tenn.
July 5, 2001... Byline: By Linda A. Moore Jul. 5--For decades Memphis area diners have enjoyed the spicy concoctions at Pancho's Mexican Restaurants and their products, sold in area grocery stores. Now, more people will get a chance to taste what...

Federal Survey Shows Rise in Memphis, Tenn.-Area Wages.
July 6, 2001... Byline: Christopher Barton Jul. 6--In its second year, a survey by the federal government shows that average wages in Memphis have risen in the past year. Workers in the Memphis metropolitan area averaged $15.53 per hour in February...

Hotel Tax Revenue in Memphis, Tenn., Doubles Last Year's Figures.
July 7, 2001... Byline: Jason Greer Jul. 7--City and county leaders can thank patrons of Memphis in May for more than doubling last year's hotel tax revenue for the month of May. According to the Shelby County Trustee's office, tax revenue in May was...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
July 7, 2001... Byline: David Flaum Jul. 7--QUESTION: I am considering rolling my 401(k) from a former employer into an IRA. Since I'm now disabled, will I be penalized the 10 percent for early withdrawal? How long must I wait after rolling the funds into...

Northwest Airlines Orders 75 Bombardier Regional Jets.
July 10, 2001... Byline: Richard Thompson Jul. 10--Eagan, Minn.-based Northwest Airlines Corp. and Bombardier Aerospace announced Monday a $1.68 billion order for 75 additional Canadair Regional Jets (CRJs) with delivery expected to begin in the third...

Memphis, Tenn-Based Response Oncology Won't Emerge from Bankruptcy Quickly.
July 10, 2001... Byline: David Flaum Jul. 10--Response Oncology Inc. won't emerge from bankruptcy court protection for at least six to nine months, top executives of the Memphis-based cancer treatment company said at the annual shareholder meeting Tuesday....

Merger of Relocation Services to Create 40 Jobs in Memphis, Tenn.
July 10, 2001... Byline: Jason Greer Jul. 10--The acquisition of Pinnacle Group Associates Inc. by Memphis-based Primacy Relocation will create 40-50 new jobs for the city. Primacy and Pinnacle provide relocation services for companies throughout the...

Tax Abatements Suggest Sluggish Economy in Memphis, Tenn., Area.
July 10, 2001... Byline: Christopher Barton Jul. 10--If the number of tax abatements being granted by the city and county are a sign of economy vitality, 2001 is looking pretty drab compared to last year. The Memphis and Shelby County Industrial...

AutoZone Hires Brokerage to Aid in Sale of Truck-Parts Subsidiary.
July 11, 2001... Jul. 11--AutoZone Inc. has hired Morgan Keegan & Co. Inc. to aid in the sale of TruckPro, AutoZone's heavy-duty truck parts subsidiary. AutoZone operates 49 TruckPro stores in 15 states and had identified the TruckPro subsidiary as an...

Stock Slides at Memphis, Tenn.-Based Accredo Health.
July 11, 2001... Byline: David Flaum Jul. 11--Shares of Accredo Health Inc. slid $2.08 Tuesday, suffering from what analysts said were several developments. The stock price stood at $29.05 in late trading as nearly 1.4 million shares changed hands. The...

AutoZone Stock Is Riding High.
July 12, 2001... Byline: Linda A. Moore Jul. 12--AutoZone Inc. shares rose by more than 10 percent Wednesday, closing with a new 52-week high, evidence in part, a local analyst says, of higher than expected sales in stores open at least one year midway...

New Group Chairman Wants to Keep Tennessee Bankers Up on Technology.
July 12, 2001... Byline: Jason Greer Jul. 12--Keeping bankers on the cutting edge of technology and hampering the fraud industry are among the goals of the Tennessee Bankers Association, said Kenneth W. Plunk, newly elected association chairman. Plunk...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
July 12, 2001... Byline: David Flaum Jul. 12--QUESTION: I am a senior citizen who works part time. I earn about $7,500 annually and withdraw $7,500 from my IRA for a total income of $15,000. I am in the 15 percent tax bracket. Will I be able to take...

National Commerce Financial in Memphis to Trade on NYSE.
July 12, 2001... Byline: David Flaum Jul. 12--Trading of shares in National Commerce Financial Corp. of Memphis will move to the New York Stock Exchange (NYSE) from the Nasdaq Stock Market on July 25, company and exchange officials said Wednesday. ...

Walgreens Aims to Be Found on Many Streets Corners in Memphis, Tenn.
July 12, 2001... Byline: Linda A. Moore Jul. 12--Drive to a Walgreens drugstore, and its pretty much a given that there's another one nearby. That's certainly not happenstance. With more than 3,400 stores, including about 120 in Tennessee and...

Arkansas Governor Addresses Potential Economic Growth Issues.
July 13, 2001... Byline: Christopher Barton Jul. 13--HELENA, Ark.--Arkansas Gov. Mike Huckabee crisscrossed the state Thursday and spoke to more than 1,000 people about improving the state's economy. In Helena, he addressed more than 120 business...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
July 13, 2001... Byline: Linda A. Moore Jul. 13--As a consumer, you try to do the right thing and follow proper channels. But when things go wrong, what do you do? Case in point, Vickie and Ashley Williams' 31-inch television. The couple had...

Federal Officials Perform Safety Inspection at FedEx Hub in Memphis, Tenn.
July 13, 2001... Byline: Richard Thompson Jul. 13--U.S. Occupational Safety and Health Administration investigators conducted an unannounced inspection of portable aircraft stairs at the FedEx Express superhub in Memphis Thursday, according to the Fedex...

Jackson, Tenn.-Based Railroad Company to Administer Another 140 Miles of Track.
July 13, 2001... Byline: Christopher Barton Jul. 13--Jackson, Tenn.,-based West Tennessee Railroad LLC on Aug. 1 will take over the operation of 140 miles of railroad track previously operated by Norfolk Southern Railway Co. West Tennessee Railroad...

Memphis, Tenn.-Area Theater Companies Embroiled in Lawsuit.
July 13, 2001... Byline: Jody Callahan Jul. 13--When is it acceptable to use the word "Hollywood" in a movie advertisement? That's the crux of a lawsuit filed June 22 by Hollywood Cinema against Malco Theatres. On June 15, an advertisement ran in...

Arlington, Tenn., Medical Group Completes Initial Public Offering.
July 14, 2001... Byline: Mark Watson Jul. 14--Arlington-based Wright Medical Group Inc.'s initial public offering stock price up by $3.11, or almost 25 percent, to $15.61 by the close of its first day of trading. This occurred after David Menlow,...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
July 14, 2001... Byline: David Flaum Jul. 14--If you depend on interest earnings for your income, chances are you weren't cheering the six Federal Reserve short-term interest rate cuts this year. "We're certainly starting to see the person who is...

Tampa, Fla.-Based Outback Steakhouse Eyes Memphis, Tenn., Site.
July 14, 2001... Byline: Wayne Risher Jul. 14--A national steakhouse chain is seeking a parking variance for a former PoFolks restaurant site that has sat vacant at Union and Edgewood in Midtown for more than six years. Tampa, Fla.-based Outback...

Memphis, Tenn., Company Growth Exceeds Much of Nation.
July 16, 2001... Byline: Jason Greer Jul. 16--Company growth in Memphis is better than about 80 percent of the nation, according to a report by the National Commission on Entrpreneurship. In the report released this week, High Growth Companies: Mapping...

National Commerce Financial to Buy Anderson, S.C., Bank.
July 17, 2001... Byline: David Flaum Jul. 17--National Commerce Financial Corp. has agreed to buy SouthBanc Shares Inc. of Anderson, S.C., in a stock and cash deal worth $28 a share or about $126 million, executives of the Memphis-based company said...

Labor Secretary Holds Forums on Rewriting Rules on Ergonomics in Workplace.
July 17, 2001... Byline: James W. Brosnan Jul. 17--WASHINGTON--"We're going to make somebody unhappy," said Labor Secretary Elaine Chao Monday as she began the first of three forums on how she should re-write the Clinton administration rules on ergonomics...

Memphis, Tenn., Council to Hear Proposed Housing Ordinance in Two Weeks.
July 17, 2001... Byline: Jerome Obermark Jul. 17--A proposed Fair Housing ordinance -- prepared in part from recommendations made by a Fair Housing Task Force -- will be presented to Memphis City Council within two weeks, officials said Monday. A...

Banking School in Memphis, Tenn., to Change Its Name.
July 17, 2001... Byline: Jason Greer Jul. 17--The Mid-South School of Banking will undergo a name change to honor the sponsor of its newly awarded $8 million grant. Officials from the Paul J. Barret Jr. Charitable Trust and the school's executive...

Airline Experts Say Now's the Time to Spin Off Regional Carriers.
July 18, 2001... Byline: Richard Thompson Jul. 18--The airline industry is often a game of Follow the Leader. One carrier raises fares; the others fall in line. One carrier has a fare sale, here comes another. So, since Houston-based Continental...

Fabric Plant in Dyersburg, Tenn., to Close.
July 18, 2001... Byline: Richard Thompson Jul. 18--After 72 years, the Dyersburg Fabrics plant will essentially close its doors by the end of August, leaving just over 900 workers jobless -- with no severance packages -- and ending an era in the city with...

Global Healthcare Company Aims for Larger Expansion in Memphis, Tenn.
July 18, 2001... Byline: Jason Greer Jul. 18--London-based Smith & Nephew Plc has revised its expansion plans, increasing total capital investment from $32 million to 47.92 million. A bigger building is the cause of the capital increase. "We are...

Tennessee Titans Players Buy Memphis Sporting-Goods Store.
July 18, 2001... Byline: Linda A. Moore Jul. 18--A retired Tennessee Titan has joined three former teammates in the business world with the purchase of The Athlete's Foot store at Southland Mall. The athletes, retired Titan Michael Jones, 31, along...

Executive to Retire from Memphis, Tenn.-Based Bank.
July 19, 2001... Byline: David Flaum Jul. 19--A top executive at National Commerce Financial Corp. announced his retirement Wednesday as the Memphis-based company reported a second quarter profit gain. Lewis E. Holland, president of Financial...

Gas Prices Fall Dramatically in Memphis, Tenn.
July 19, 2001... Byline: Christopher Barton Jul. 19--Along the busy Winchester retail corridor in Southeast Memphis, competition for gas heated up this week as gas prices have fallen dramatically nationwide. Several stations -- between Riverdale and...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
July 19, 2001... Byline: David Flaum Jul. 19--QUESTION: A couple of years ago I left a company I had worked for for 17 years. I have not rolled over my 401(k). At the time of my severance, I was under the impression I could roll as much of it as I could...

Study Promotes Cooperation among Memphis, Tenn.-Area Small Towns.
July 19, 2001... Byline: Mark Watson Jul. 19--The leaders of small towns like Forrest City, Ark., hope a new study released today will help them deal with tough economic times. Forrest City is in St. Francis County, which had an unemployment rate of...

Control Tower at Memphis, Tenn., Airport Struck by Lightning.
July 20, 2001... Byline: Richard Thompson Jul. 20--Lightning struck the air traffic control tower at Memphis International Airport Thursday afternoon, but no vital systems were damaged or taken off line, according to an airport official. Larry Cox,...

Albertson's to Sell Memphis, Tenn.-Area Stores Before Closing Them.
July 20, 2001... Byline: Linda A. Moore Jul. 20--Albertson's Inc., which owns the area's Seessel's stores and announced plans to close 165 stores in 25 states, said Thursday it will attempt to sell as many of those stores as possible before closing them....

Memphis, Tenn.-Based Bank Holding Company Promotes Executive.
July 20, 2001... Byline: David Flaum Jul. 20--J. Kenneth Glass was named president and chief operating officer of First Tennessee National Corp. on Thursday, making him second in command at the Memphis-based bank holding company. Glass, 54, a 27-year...

Memphis, Tenn.-Based Bank Holding Company Increases Profits.
July 20, 2001... Byline: David Flaum Jul. 20--Union Planters Corp. profits for the second quarter were slightly higher than the same three months a year ago, the Memphis-based bank holding company reported Thursday. UP earned $109.33 million or 79...

U.S. Small Businesses Encouraged to Seek Foreign Trade Opportunities.
July 20, 2001... Byline: Christopher Barton Jul. 20--With slower growth in the U.S. economy, now is the time for small businesses to export their products or services, especially to Canada and Mexico. That was the message of state and federal trade...

Governors Agree More Cooperation Is Needed Among Memphis, Tenn., Region.
July 20, 2001... Byline: Mark Watson Jul. 20--Mid-South governors praised a new report that calls for more cooperation among the communities in the Memphis region. In The Peabody's Grand Ballroom, Arkansas Gov. Mike Huckabee, Mississippi Gov. Ronnie...

Rental Cars Serving Memphis, Tenn., Airport to Institute Vehicle Charge.
July 20, 2001... Byline: Jason Greer Jul. 20--Starting Aug. 1, a $3 per day per vehicle charge will be added to bills from all rental car companies operating at or serving Memphis International Airport. On Thursday, the Memphis-Shelby County Airport...

Flowers Baking Co. to Close Florida Plant.
July 24, 2001... Byline: Linda A. Moore Jul. 24--Flowers Baking Co. is closing its 1029 Florida plant, leaving about 107 people without jobs. "We're losing money," company president Charles Avera said. The bakery produces Sunbeam and Nature's Own...

Mississippi Governor Lends Support to Industrial Park's Development.
July 24, 2001... Byline: Christopher Barton Jul. 24--Mississippi Gov. Ronnie Musgrove today will visit regional officials in Holly Springs to help support development of a 6,000-acre industrial park that straddles state lines. The Chickasaw Trail...

Memphis, Tenn.-Based Electrical Products Maker May See More Job Cuts.
July 25, 2001... Byline: Christopher Barton Jul. 25--More job cuts could be on the horizon for Memphis-based Thomas & Betts Corp., but the worst of the company's troubles are behind the firm, the company said Tuesday. The electrical products and components...

Project Managers Are Valuable to Memphis, Tenn., High-Tech Startups.
July 26, 2001... Byline: Mark Watson Jul. 26--Work 'round the clock. Enter code. Take pizza breaks at midnight. Take foosball breaks at 4 a.m. Brush teeth in office bathroom at 7:30 a.m., before the receptionist shows up. That's a "to do" list for the...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
July 26, 2001... Byline: David Flaum Jul. 26--QUESTION: We didn't get a letter from the IRS telling us how much our tax rebate would be like most of our friends and relatives did. We filed our tax return on time and had enough taxable income to get a...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
July 27, 2001... Byline: Linda A. Moore Jul. 27--The nasty little electronic scam artists have been busy the last few weeks. If you're an America Online customer, you may have gotten a bogus (I hope you realized it was bogus) E-mail from the company's...

Judge Approves Sale of Five Tennessee Eye Care Centers.
July 27, 2001... Byline: Christopher Barton Jul. 27--U.S. Bankruptcy Court Judge William H. Brown on Thursday approved the sale of five VisionAmerica Inc. eye care centers, including a center in Nashville and Jackson, Tenn., for $1.6 million. ...

Memphis, Tenn., Home Builder Seeks Bankruptcy Protection.
July 27, 2001... Byline: Jerome Obermark Jul. 27--U.S. Bankruptcy Court Judge William Houston Brown sorted through multiple motions Thursday in a complicated Chapter 11 (reorganization) case filed earlier by Snyder Home Builders. Real estate developer/...

Milk Fat Prices Plump Up Ice Cream.
July 27, 2001... Byline: Jason Greer Jul. 27--Spending quality time at the ice cream parlor may be a bigger investment than imagined. Try about 4 percent bigger. Milk fat prices have soared in recent months. And because it is the main ingredient...

Memphis-Based Rental Property Owner Expects Lower Third-Quarter Earnings.
July 28, 2001... Byline: Jerome Obermark Jul. 28--ResortQuest International Inc., stock price dropped $2.10 Friday to close at $8.95 in active trading of more than 447,000 shares on the New York Stock Exchange. The movement followed announcements of...

Grocery Store Chain to End Trading Stamp Redemption Program.
July 28, 2001... Jul. 28--For nearly 50 years Ray and Alice Eubanks have traded Quality Stamps for household goods. But on Thursday the Eubanks, of Water Valley, Miss., made their last trip to the Memphis Quality Stamps redemption center on Knight Road....

Unemployment Rate Remains Steady in Memphis, Tenn., Area.
July 28, 2001... Byline: Christopher Barton Jul. 28--While area county unemployment rates remained steady in June, that news didn't comfort Sunday Gamble. Gamble, 22, a carpenter, was applying for unemployment benefits Friday at the Tennessee...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
July 29, 2001... Byline: David Flaum Jul. 29--About the only thing at college more challenging than passing final exams is saving enough money to attend school in the first place. A growing number of parents and grandparents are starting with...

Memphis, Tenn., Bank Starts New Business to Make Loans to Keep or Sell.
July 31, 2001... Byline: David Flaum Jul. 31--1st Trust Bank for Savings of Memphis has started doing for commercial and multifamily housing loans what it has been doing with residential mortgages. The two and a half year old bank started the new...

Computer Worm Infects Memphis, Tenn., Technology Community.
July 31, 2001... Byline: Mark Watson Jul. 31--The "Code Red" Internet worm has penetrated the Memphis computer community, but it seems to have caused little damage. Public and private technology leaders, in a joint press conference in Washington,...

Analysts Say FedEx May Try to Acquire Parts of Customs Brokerage Services Firm.
July 31, 2001... Byline: Richard Thompson Jul. 31--Earlier this year, FedEx Corp. sued Fritz Cos., a firm that it contracts with for customs brokerage services, after learning that Atlanta-based United Parcel Service was acquiring Fritz. While FedEx has...

Ford to Set Up Distribution Center in Memphis, Tenn.
July 31, 2001... Byline: Christopher Barton Jul. 31--Ford Motor Co., the world's second-largest automaker, confirmed Monday that it will open nearly 1 million square feet of distribution space in Memphis in January, the company said. The news bodes...

Hampton Inn Reveals New Compact Hotel Design.
July 31, 2001... Byline: Jerome Obermark Jul. 31--Hampton Inn introduced a new compact hotel design Monday for small towns typically with populations of 20,000 to 50,000 and business generators such as a university or manufacturing plant. The...