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

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

Jobless Rate Jumps in Fayette County, Tenn.
October 2, 2001... Byline: Christopher Barton Oct. 2--Fayette County's unemployment rate jumped from 4 percent in July to 5.7 percent in August, according to the Tennessee Department of Labor and Workforce Development. Nikki Crosslin, a spokesman for the...

Satellite Radio to Make Its Debut in Memphis, Tenn., Area.
October 3, 2001... Byline: Mark Watson Oct. 3--Satellite radio service, featuring a diverse new set of choices, is scheduled to become available in the Memphis area and elsewhere across the southern half of the U.S. on Oct. 18. That's when XM Satellite...

DaimlerChrysler Officials Attribute Idling of Plants to Slip in Car Sales.
October 4, 2001... Byline: Linda A. Moore Oct. 4--DaimlerChrysler AG officials say the idling of several U.S. and Canadian assembly plants this month is a direct response to a marketplace where car sales have waned and company sales dropped by 28 percent in...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
October 4, 2001... Byline: David Flaum Oct. 4--QUESTION: I left a government job after 10 years and rolled all my pension money, $21,500, into an Individual Retirement Account in 1995. This (annuity) is divided among growth, high income, overseas stock,...

Study: Memphis, Tenn.-Area Minorities Denied Mortgages More Often Than Whites.
October 4, 2001... Byline: David Flaum Oct. 4--African-Americans in the Memphis area were more than twice as likely as whites to have home purchase loans rejected by mortgage lenders in 2000, according to a study of Home Mortgage Disclosure Act (HMDA) data...

Northwest Airlines to Install New Security Devices on Cockpit Doors.
October 4, 2001... Byline: Richard Thompson Oct. 4--Northwest Airlines Corp. said Wednesday it would install new flight deck door security devices on its entire fleet as well as resume its Internet check-in service. Northwest said its door enhancement...

Some Small Airports in Memphis, Tenn., Area Hit Hard by New Security Steps.
October 4, 2001... Byline: Richard Thompson Oct. 4--The ongoing impact of the new aviation security measures varies at small airports in the region. At Tupelo Regional Airport in Mississippi, for instance, the 300-foot buffer zone in front of the...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
October 5, 2001... Byline: Linda A. Moore Oct. 5--Simply put, the government wants us to spend money. Why? Well, it needs us to circulate money in order to stimulate the economy. If only it were that simple. Intro Economics 101 tells us...

ARAMARK Pays $800 Million for ServiceMaster's Management Services Sector.
October 5, 2001... Byline: Linda A. Moore Oct. 5--ServiceMaster announced Thursday the sale of its Management Services business to ARAMARK Corp. for $800 million and will exit two other poor performing segments, making the company's dominate focus on...

Varsity Brands to Terminate Licensing Deal with Umbro's Soccer Products.
October 5, 2001... Byline: David Flaum Oct. 5--Varsity Brands Inc. of Memphis will end its licensing agreement with Umbro Worldwide Ltd. that allows Varsity to sell Umbro soccer apparel, equipment and shoes under a settlement of Varsity's lawsuit against...

Memphis, Tenn., Businessman Plans Appeal of $1.8 Million Fine in Medicaid Case.
October 6, 2001... Byline: Christopher Barton Oct. 6--A Memphis businessman plans to appeal a $1.8 million judgment against him in connection with a fraudulent Medicaid claims case, his attorney said. Stephen H. Winters, founder of Memphis-based...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
October 7, 2001... Byline: David Flaum Oct. 7--Even before terrorists attacked on Sept. 11 in New York, Washington and Pennsylvania, the high-tech bubble burst, the economy stumbled, stock prices nosedived and investors looked for a safe haven for their...

Memphis, Tenn.-Based Thomas & Betts Corp. Sells Two Lighting Product Lines.
October 9, 2001... Byline: Christopher Barton Oct. 9--Memphis-based Thomas & Betts Corp. said it is selling more of its operations on Monday as the company continues to refocus on core businesses. The company announced it will sell its American Electric...

J.M. Smucker Plans to Acquire Jif, Crisco Divisions from Procter & Gamble.
October 10, 2001... Byline: Christopher Barton Oct. 10--J.M. Smucker Co., which employs about 165 workers at its Memphis jam factory, and Procter & Gamble Co. said Wednesday they will merge P&G's Jif peanut butter and Crisco cooking oils businesses into...

Trucking Companies Want to Check Employee Backgrounds in Criminal Databases.
October 10, 2001... Byline: James W. Brosnan Oct. 10--WASHINGTON--Trucking companies will ask Congress today for access to criminal databases so they can check the backgrounds of their drivers. The American Trucking Association will make the plea at a...

Memphis, Tenn., Management Firm Expands Its Group of Apartment Communities.
October 11, 2001... Byline: Jerome Obermark Oct. 11--LEDIC Management Group has landed a contract that increases properties under its management by 33 percent. Brent Garrett, president and chief executive officer of the firm, was on his way from Memphis...

BellSouth Seeks Federal Permission to Offer Long-Distance in Mississippi.
October 11, 2001... Byline: Mark Watson Oct. 11--BellSouth expects to seek federal permission to offer long-distance service in Mississippi by the end of 2001, a spokesman said Wednesday. The Mississippi Public Service Commission on Oct. 2 approved...

Experts on Bus Transportation Discuss Costs of Increased Security.
October 11, 2001... Byline: James W. Brosnan Oct. 11--WASHINGTON--It would be difficult and costly to increase security on the buses serving more than 4,000 communities, an industry official and top government regulator told senators Wednesday. The...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
October 11, 2001... Byline: David Flaum Oct. 11--QUESTION--Are tax free municipal bonds as safe as CD's? I cannot afford to lose one single penny. I am unable to work but did not get disability income. My savings are it. --B. A., Memphis ...

Memphis, Tenn.-Based Bank Reports Third-Quarter Profits of 28 Cents a Share.
October 12, 2001... Byline: David Flaum Oct. 12--National Commerce Financial Corp. of Memphis set earnings records in the third quarter, company executives reported Thursday. The bank holding company earned $57.61 million or 28 cents a share in the three...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
October 12, 2001... Byline: Linda A. Moore Oct. 12--Mid-South shoppers are, like the rest of the country, keenly aware of the continued after- shocks of Sept. 11, the nation's newest war and an economy on the brink of a recession. But they're also a...

Uncompleted Memphis, Tenn.-Area Real Estate Developments to Be Auctioned.
October 12, 2001... Byline: Christopher Barton Oct. 12--Millions of dollars in uncompleted real estate developments will be auctioned off in the next few months as part of the Snyder Home Builders bankruptcy case, a court-appointed trustee said Thursday. ...

Coors Brewing Chief Says Economy May Bottom Out Soon.
October 13, 2001... Byline: Christopher Barton Oct. 13--One of the nation's top brewery executives said Friday that the U.S. economy could be leveling off its downward slide, but growth for most large American corporations doesn't appear to be on the horizon...

Gas Prices Plunge in Memphis, Tenn., Area Since Sept. 11.
October 13, 2001... Byline: Christopher Barton Oct. 13--Despite the Sept. 11 terrorist attacks on America, gas prices in Shelby County are considerably less than they were a month ago. The average price for self-serve regular unleaded gas in Shelby...

Former Mortgage Broker Pleads Guilty in Duplex Resale Scheme in Tennessee.
October 13, 2001... Byline: Jerome Obermark Oct. 13--Lakina S. Cook, a former mortgage broker, pleaded guilty Friday to a charge of conspiracy to commit mail, wire and bank fraud in connection with a scheme in which duplexes were resold at highly inflated...

Collierville, Tenn.-Based Bank Names New President.
October 16, 2001... Byline: David Flaum Oct. 16--BankTennessee added a new president Monday as the Collierville-based bank's top executive prepares to do added work for Cumberland Bancorp, the holding company that owns the institution. R. Todd Vanderpool,...

U.S. Treasury Secretary Optimistic about Economy.
October 16, 2001... Oct. 16--The U S. economy took "a real shot" when terrorists attacked in New York, Washington and Pennsylvania on Sept. 11, but business has bounced back over the past few weeks, U. S. Treasury Secretary Paul O'Neill, said Monday. ...

Federal Express Targets Smaller Businesses in New Ad Campaign.
October 16, 2001... Byline: Richard Thompson Oct. 16--Memphis-based FedEx Corp. kicked off a new advertising campaign Monday designed to target small- to medium-sized businesses. The campaign features five 30-second spots with the tagline: "Don't worry....

Memphis, Tenn., Toyota Dealer Remembers Lifetime Selling Cars.
October 17, 2001... Byline: Linda A. Moore Oct. 17--It was the early 1950s when a young man walked into a car dealership and tried to buy Pontiac for $495. The young man, according to storyteller Bob Randall, had no credit and was turned down. "That...

Direct Mail Companies in Memphis, Tenn., Plan Stepped-Up Security.
October 17, 2001... Byline: Mark Watson Oct. 17--Concern over the use of the mails to spread anthrax has not affected local direct-mail companies, but they are taking steps to address security issues. "It's certainly something that somebody involved in...

Officials Say Probability of Anthrax Sent through Mail Is Remote.
October 17, 2001... Byline: Richard Thompson Oct. 17--Out of 20 billion pieces of mail delivered since Sept. 11, there are very only two few confirmed cases of anthrax bacteria being sent through the U.S. Postal Service (USPS). In that light, "The...

Cookie Entrepreneur Encourages Memphis, Tenn., Business Leaders to Dream Big.
October 17, 2001... Byline: Christopher Barton Oct. 17--Despite the current economic slowdown, it's not time to give up on dreams of building a small business into a multi-million-dollar company with national name recognition. That was the message of...

Memphis, Tenn.-Based Bank Company Reports Big Increase in Profits.
October 18, 2001... Byline: David Flaum Oct. 18--Boosted by substantial revenue gains in the three major parts of its business, First Tennessee National Corp. recorded sharply higher profits in the third quarter than it had a year ago, although the amount of...

Memphis, Tenn., Officials Approve Tax Freeze for Ford Expansion Project.
October 18, 2001... Byline: Christopher Barton Oct. 18--Ford Motor Co. officials said the company is moving forward with spending $28 million to expand into two existing warehouses in Memphis. Ford previously announced it would create 220 jobs in Memphis,...

Humana Logs On with Internet-Based Health Insurance System.
October 18, 2001... Byline: Mark Watson Oct. 18--Memphis is the first place where a comprehensive new Internet-centered health-insurance system will be implemented for patients, health-care providers and employers. At a launch party at Memphis Botanic...

Teddy Bear Retailer Brings Its Interactive Fun to Memphis, Tenn., Mall.
October 18, 2001... Byline: Linda A. Moore Oct. 18--In theory it's just a stuffed animal. But once inside the bright, colorful Build-A-Bear Workshop, which recently opened at the Wolfchase Galleria, customers find that building a bear is more than just...

Lawmaker to Push for Flights Between Memphis, Tenn., Reagan National.
October 20, 2001... Byline: James W. Brosnan Oct. 20-- Rep. Harold Ford Jr. (D-Tenn.) said Friday he and officials from Memphis International Airport hope to meet next week with Transportation Secretary Norm Mineta to lobby him to allow flights from Memphis...

Developer to Have Office, Retail Focus in New Nashville, Tenn., Office.
October 20, 2001... Byline: Jerome Obermark Oct. 20--Boyle Investment Co., developer of Ridgeway Office Center at Poplar and Interstate 240, announced it is opening a Nashville office. The new office is headed by Jeff Haynes and Phil Fawcett. Their...

Federal Bills against Predatory Lending Focus on Brokers, Credit Agencies.
October 21, 2001... Byline: David Flaum Oct. 21--States and cities don't have a monopoly on efforts to clamp down legally on predatory lending. Momentum is growing for federal action on the issue, but like Tennessee with its budget, Congress is dealing...

Merchants Hope Holiday Traditions Will Transcend Mood of Tragedy.
October 21, 2001... Byline: Linda A. Moore Oct. 21--Several weeks before Halloween, Tracey Long of Cordova was out scouting for Christmas trees at a local department store. With Christmas gifts to buy for about 20 relatives, Long had no intention of...

Renovations Revitalize Three Apartment Complexes in Memphis, Tenn.
October 22, 2001... Byline: Dave Darnell Oct. 22--Anita Dobbs used to visit her brother in Memphis at his apartment complex at 3855 Jackson. "I would have never considered moving out there -- even with my bodyguard," said Dobbs, 60, who recently moved to...

Memphis, Tenn.-Area Transit Agency to Vote on Contract for Trolley Extension.
October 22, 2001... Byline: Blake Fontenay Oct. 22--A northeast Mississippi construction company is in line to get a $23.7 million contract to build a trolley line extension connecting downtown and the Medical Center. The Memphis Area Transit Authority's...

Memphis, Tenn.-Based Cellulose Company Notes 10 Percent Jump in Stock.
October 23, 2001... Byline: Christopher Barton Oct. 23--Buckeye Technologies Inc. saw its stock rise 10 percent on Monday after the company was upgraded by one stock analyst who predicted the company's downslide has ended. The analyst said that global...

Memphis, Tenn., Prepares to Launch Web Site for Prospective Businesses.
October 23, 2001... Byline: Mark Watson Oct. 23--By the end of October, companies trying to decide whether to do biz in Memphis will have a new Web site, "dobizinmemphis.com," designed to ease the choice. The Memphis and Shelby County Division of Planning...

FedEx Donates Boeing 727 for Aircraft Training at Tchulahoma, Tenn., School.
October 23, 2001... Byline: Richard Thompson Oct. 23--Memphis-based FedEx Corp. donated a retired Boeing 727 to the Tennessee Technology Center at Memphis Aviation Training Center on Tchulahoma Monday. The donation transforms theory into practical...

Some States, Cities Consider Action against Predatory Home Lending.
October 23, 2001... Byline: David Flaum Oct. 23--People like Robin Taylor have grabbed the attention of congressmen, federal and state regulators, state and local lawmakers and community groups. Nearly two years ago Taylor, 47, an X-ray technician at...

Indiana Firm May Soon Complete Buyout of Tunica County, Miss., Casino.
October 24, 2001... Byline: David Flaum Oct. 24--Majestic Star Casino LLC of Gary, Ind., should complete the buyout of Fitzgeralds Casinos in Tunica County and two other places by mid-November, company officials said Tuesday. The Tunica casino, along with...

FedEx Express to Discontinue Extra Hours Service.
October 24, 2001... Byline: Richard Thompson Oct. 24--This holiday season, FedEx Express customers can expect money-back guarantees for all express services, but don't expect extended pickup times after Thanksgiving. Effective Nov. 23, Memphis-based FedEx...

New Orleans-Based Steamboat Company Files for Bankruptcy.
October 24, 2001... Byline: Christopher Barton Oct. 24--A New Orleans-based steamboat company that brings as many as 10,000 passengers annually to Memphis has filed for Chapter 11 bankruptcy protection. American Classic Voyages Co. said the Sept. 11...

Tennessee-Based National Commerce Financial to Outsource Work, Cut 115 Jobs.
October 25, 2001... Byline: David Flaum Oct. 25--National Commerce Financial Corp. (NCF) will farm out much of its loan processing and reporting work, cutting about 115 jobs including 100 in Memphis by September 2002, executives of the Memphis-based bank...

Home Sales in Memphis, Tenn., Area Decrease 10.6 Percent in September.
October 25, 2001... Byline: Jerome Obermark Oct. 25--Memphis area homes sales declined 10.6 percent in September, and house shopping slowed dramatically immediately after the Sept. 11th attacks in New York and Washington. The 3,500-member Memphis Area...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
October 25, 2001... Byline: David Flaum Oct. 25--QUESTION: I am a 48-year-old woman with a traditional IRA in an emerging growth mutual fund that is performing poorly. Would it be advisable to convert that into a Roth IRA now since the taxes I would pay would...

Northwest Plans to Increase Checkpoint Lanes at Memphis, Tenn., Airport.
October 25, 2001... Byline: Richard Thompson Oct. 25--Eagan, Minn.-based Northwest Airlines is applying some of its "line-busting" knowledge to airport security checkpoints in a move to regain passengers, especially as the holiday travel season approaches....

Northwest Airlines Wants to Fly between Memphis, Tenn., and National Airport.
October 25, 2001... Byline: James W. Brosnan Oct. 25--WASHINGTON--Northwest Airlines told the Department of Transportation Wednesday that it is willing to fly three times a day from Memphis to Reagan National Airport and back by giving up three flights from...

Federal Reserve Reports Slumping Economic Activity in Mid-South Region.
October 25, 2001... Byline: David Flaum Oct. 25--Economic activity in the Mid-South slowed in September and early October, as it did around the nation, especially after the Sept. 11 terrorist attacks, but the Federal Reserve highlighted some bright spots in...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
October 26, 2001... Byline: Linda A. Moore Oct. 26--Winters in these parts are unpredictable, but usually in a good way -- balmy in February, frigid in March. I haven't gotten reports from a weather beetle or woolly bears, although The Old Farmer's...

Memphis, Tenn.-Based Home Designer Wins People's Choice Award at Home Show.
October 26, 2001... Byline: Jerome Obermark Oct. 26--A Chamberlain & McCreery home called The Dogwood designed by Creative Home Designs Inc., with Country French architectural styling won the "People's Choice" award at this year's Vesta Home Show. People...

Memphis, Tenn., Houses, Duplexes Win National Design Award.
October 26, 2001... Byline: Jerome Obermark Oct. 26--Delmar-Lema Village, an adaptive reuse of 12 turn-of-the-century shotgun houses and six duplexes in inner city Memphis, won a grand award in a national design competition. Of hundreds of entries, 46...

Experts Expect Drop in Tennessee Jobless Rate for September.
October 26, 2001... Byline: Christopher Barton Oct. 26--Shelby County's unemployment rate dropped in September, as did most of the state's county unemployment rates. But at least one economist said the state and counties may see a delayed effect from the...

Northwest Reports Third-Quarter Profit of $19 Million with Federal Help.
October 26, 2001... Byline: Richard Thompson Oct. 26--If not for the Sept. 11 hijacking of four commercial jetliners, Northwest Airlines Corp. would have posted a profit for the three-month period ended Sept. 30, company officials said Thursday. Instead,...

Memphis, Tenn., Retailers Report Slow Halloween Sales.
October 27, 2001... Byline: Linda A. Moore Oct. 27--Americans are expected to spend billions on Halloween costumes, candy and other related items this year, but some area providers say they're seeing slower sales than this time last year. The National...

Judge Approves Spending Plan at Memphis, Tenn.-Based Response Oncology.
October 27, 2001... Byline: Christopher Barton Oct. 27--U.S. Bankruptcy Court Judge David S. Kennedy on Friday approved a request from Memphis-based Response Oncology Inc. to spend cash as part of an agreement closely regulated by lenders. The move should...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
October 28, 2001... Byline: David Flaum Oct. 28--If your own a business or have retirement accounts and other investments, you have opportunities to cut your federal income tax bill for 2001 between now and the end of the year. Self-employed people have a...

Tennessee Lawmaker Wants Airport Security Screeners to Be Federal Workers.
October 30, 2001... Byline: Richard Thompson Oct. 30--Rep. Harold Ford, Jr. (DTenn.) wants to be clearly understood. He will not vote for any legislation that does not include making the nation's 28,000 airport security screeners federal employees. ...

FedEx Optimistic on Outlook for Second-Quarter Earnings.
October 30, 2001... Byline: Richard Thompson Oct. 30--Memphis-based FedEx Corp. expects its fiscal second quarter earnings to be higher than what analysts expect, and that's without the help of $101 million in federal aid. Strong growth in ground...

Outlook Improves for Memphis, Tenn.-Based E-Payment Processor Concord EFS.
October 31, 2001... Byline: David Flaum Oct. 31--Neither a sluggish economy nor the Sept. 11 terrorist attacks stood in the way of third-quarter profit growth at Concord EFS Inc. as the Memphis-based electronic payment processing firm earned 60 percent more...

Use of Pfizer Drugs in Terror War Would Not Boost Profit, Analyst Says.
October 31, 2001... Byline: Christopher Barton Oct. 31--New York-based Pfizer Inc. could see more demand for its antibiotic drugs due to concerns about anthrax and other bio-tech warfare compounds. That would increase volume at the company's Memphis...

Memphis, Tenn.-Based ResortQuest Reports Lower Quarterly Earnings.
October 31, 2001... Byline: Jerome Obermark Oct. 31--ResortQuest International Inc., a Memphis-based company that owns firms that manage and sell properties in 50 resort markets, reported sharply lower third-quarter earnings. It reported revenues of $48.6...

Quarterly Revenues Rise at Downers Grove, Ill.-Based ServiceMaster.
October 31, 2001... Byline: Linda A. Moore Oct. 31--ServiceMaster reported third-quarter revenues of $1.13 billion, a 1 percent increase compared with 2000, along with earnings of 15 cents a share, compared with 17 cents a share last year. The results...