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

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

Memphis, Tenn., Apartments to Become Condominiums.
September 1, 2001... Byline: Jerome Obermark Sep. 1--The Paperworks Apartments at Front and Huling will be converted to condominiums. Paperworks was the first large warehouse-to-residential-loft apartment conversion in downtown Memphis. The Henry Turley...

Ford to Lease Building in Capleville, Tenn., Area.
September 1, 2001... Byline: Christopher Barton Sep. 1--Officials with Ford Motor Co. said Friday the company has signed a lease with Panattoni Development Co. for a 360,800-square-foot building in the Capleville area. The building is one of two that Ford...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
September 1, 2001... Byline: David Flaum Sep. 1--Dave Cooley began planning for his retirement about 10 years ago, but he wishes he had started earlier. It is not that Cooley, who retired as president of the Memphis Area Chamber of Commerce in 1995,...

Memphis, Tenn., Real Estate Appraiser Charged with Fraud.
September 1, 2001... Byline: Jerome Obermark Sep. 1--Appraiser Tilma Ann Baker entered a guilty plea Friday to a charge of conspiracy in an ongoing federal case involving flip sales of properties at highly inflated values in Memphis. She entered the guilty...

FedEx Mechanics Begin to Organize Union.
September 5, 2001... Byline: Richard Thompson Sep. 5--At Memphis-based FedEx Express, a grassroots movement to organize its mechanics continues to sprout. The move is to organize under the Aircraft Mechanics Fraternal Association, which also represents...

Northwest to Settle in Racial Discrimination, Harassment Suit.
September 5, 2001... Byline: Richard Thompson Sep. 5--A tentative settlement of a purported class action racial discrimination and harassment lawsuit involving Northwest Airlines Corp. will be filed today in federal district court in Atlanta. The lawsuit...

Memphis Conference to Unite Small Businesses, Big Firms.
September 5, 2001... Byline: Christopher Barton Sep. 5--About 450 small business owners are expected to attend a conference Monday to network with the some of the largest companies in the country. U.S. Rep. Harold Ford Jr. (D-Tenn.) will host a Private...

Albertson's Likely to Eye Memphis, Tenn.-Area for Store Closings.
September 6, 2001... Byline: Linda A. Moore Sep. 6--Memphis, analysts say, could fall under the knife as Albertson's Inc., considers where it will close 165 drug and grocery stores. Even with a strong secondplace market share, the Memphis area stores...

Dell Computers Sees Opportunity in Hewlett-Packard, Compaq Merger.
September 6, 2001... Byline: Mark Watson Sep. 6--NASHVILLE, Tenn.--Michael Dell views the proposed combination of Hewlett-Packard with Compaq not as a threat, but perhaps as an opportunity to capture more market share. At Nashville Area Chamber of Commerce...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
September 6, 2001... Byline: David Flaum Sep. 6--QUESTION: I am 60. My ex-wife passed away in June at age 58. We have three grown children, and she left all of her assets equally to them. However, I am still listed as beneficiary on one of her IRAs. I need to...

Chicago-Based Real Estate Firm Offers Home Savings Program in Memphis, Tenn.
September 6, 2001... Byline: Jerome Obermark Sep. 6--Equity Residential Properties Trust, a Chicago-based firm that owns six Memphis apartments with 2,100 units, is offering tenants something special -- an automatic savings program to help buy a new home. ...

Memphis, Tenn.-Based Bank Profits To Surpass Analysts' Expectations.
September 7, 2001... Byline: David Flaum Sep. 7--First Tennessee National Corp. profits for the rest of this year and 2002 will be greater than analysts have predicted, executives of the Memphis-based bank holding company said Thursday. The statement...

Memphis, Tenn., Business Expo Draws 5,000.
September 7, 2001... Byline: Christopher Barton Sep. 7--Chris Miller was aggressively shaking hands, talking about his business and trying to lure patrons to his booth. Miller, president of Yuletide Office Plus of Memphis, was among 260 business owners and...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
September 7, 2001... Byline: Linda A. Moore Sep. 7--I noticed the other day that my wallet was getting heavy with plastic. Not the credit card kind, but the customer loyalty card kind. These cards mean I'm a member of an elite group (although anybody...

Memphis, Tenn., Airport to Use New Technology to Identify Bad Weather Patterns.
September 8, 2001... Byline: Richard Thompson Sep. 8--Memphis International Airport will become the third airport in the country to use a new technology that enables air traffic controllers to better identify bad weather patterns on radar and direct aircraft...

Germantown, Tenn.-Based Banking Firm to Be Sold for $27.55 Million.
September 8, 2001... Byline: David Flaum Sep. 8--Nashoba Bancshares Inc. executives have agreed to sell the 11-year-old Germantown based banking firm to Trustmark Corp. of Jackson, Miss., for $27.55 million in cash, officials of the companies said Friday. ...

IHOP to Open New Restaurant at Memphis, Tenn.-Area Mall.
September 8, 2001... Byline: Linda A. Moore Sep. 8--IHOP (International House of Pancakes) will open a 4,000-square-foot restaurant as a Southland Mall out-parcel, while First Tennessee Bank will build a new location at the mall. IHOP will build a...

Memphis, Tenn., Unit Affected by Declining Pulp, Paper Prices.
September 8, 2001... Byline: Christopher Barton Sep. 8--While Buckeye Technologies Inc. of Memphis is taking a big financial hit to one-third of its business due to falling pulp and paper prices, the company's growing airlaid nonwovens division is holding its...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
September 8, 2001... Byline: David Flaum Sep. 8--QUESTION: I want to roll a 401(k) account I have with a former employer into the stocks of three companies. Is there a way to do it without using a brokerage account? -- L. P., Memphis ANSWER: To do...

Milwaukee, Wisc., Resident Sues Dallas-Based Home-Loan Company.
September 11, 2001... Byline: David Flaum Sep. 11--A lawsuit over payments to mortgage brokers has been filed against First Horizon Home Loan Corp., a Dallas-based subsidiary of First Tennessee National Corp. of Memphis. Leah Farr of Milwaukee, Wisc., filed...

Stamford, Conn.-Based Paper Company to Close Memphis, Tenn., Operation.
September 11, 2001... Byline: Christopher Barton Sep. 11--Westvaco Corp. of Stamford, Conn., said it will close its Memphis printing operation and fire 80 workers by mid-November. Workers at the 186,000square-foot plant on seven acres at 1248 Warford print...

Memphis, Tenn., Conference Helps Small Businesses Make Big Deals Work.
September 11, 2001... Byline: Christopher Barton Sep. 11--More than 300 area small business owners attended a conference Monday at The Peabody to learn how to do business with big corporations and the government. For Tosha Sturks, accounts manager for...

Memphis, Tenn.-Based Storage Firm Questions Largest Shareholder's Intentions.
September 11, 2001... Byline: Jerome Obermark Sep. 11--Storage USA's stock may have been put into play Monday after the company announced a special committee of five independent directors has been named to explore the intent of its largest shareholder. ...

Hauppauge, N.Y.-Based Tissue Company Files for Bankruptcy.
September 11, 2001... Byline: Christopher Barton Sep. 11--American Tissue Inc., which employs about 450 workers in Memphis, filed for Chapter 11 bankruptcy protection on Monday, according to court officials in Delaware. The news comes after the company...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
September 14, 2001... Byline: David Flaum Sep. 14--QUESTION: My medical needs have been covered by a group HMO prior to and since I retired in 1995. This plan covers all benefits that Medicare parts A and B cover. When I became eligible for Medicare in 1998, I...

Founder Expands Southern Heritage Classic in Memphis, Tenn.
September 14, 2001... Byline: Linda A. Moore Sep. 14--The plan for each year is to add something new and exciting to the Southern Heritage Classic lineup. But Fred Jones, founder of the Southern Heritage Classic, says The Store -- this year's new addition...

Memphis, Tenn., Lawn Care Business Owner Grows 'American Dream'.
September 15, 2001... Byline: Christopher Barton Sep. 15--William Collier never imagined in 1995 that starting his own lawn care business would lead to a national television appearance. But it appears his hard work has paid off. Collier, 37, owner of...

Memphis, Tenn., Orthopaedic Division Recalls Parts Used in Artificial Hips.
September 15, 2001... Byline: David Flaum Sep. 15--Smith & Nephew Inc.'s Orthopaedic Division in Memphis is one of eight U.S. companies involved in a recall of a hip implant part made by a French manufacturer. The division distributes from Memphis zirconia...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
September 15, 2001... Byline: David Flaum Sep. 15--QUESTION: I have approximately $13,000 in a 401(k) from a former employer that I'd like to roll over into an IRA. What is the best way to do it? Who should handle the paperwork? Am I limited to rolling over no...

Williams Cos. Expansion to Add 90 Jobs in Memphis, Tenn.
September 15, 2001... Byline: Christopher Barton Sep. 15--Tulsa-based Williams Cos. Inc. plans to spend $400 million and create 90 jobs in Memphis as part of three expansions related to the company's Memphis refinery. For nearly two years, the company has...

West Tennessee Wireless Users Need to Use New Area Code.
September 15, 2001... Byline: Mark Watson Sep. 15--West Tennesseans who live outside the Memphis metro area have just two more days to reprogram their phones to operate with the new area code, 731. On Monday, the new area code becomes mandatory, and many...

Bush Administration to Meet with Airline Leaders to Discuss Aid.
September 18, 2001... Sep. 18--WASHINGTON--While some airline stocks tumbled more than 40 percent Monday and additional layoffs loomed, the Bush administration prepared to meet with airline executives on a relief package that could be considered by Congress this...

Hershey's Memphis, Tenn., Factory to Begin Making Mints, Gum.
September 18, 2001... Byline: Christopher Barton Sep. 18--Hershey Foods Corp. plans to make Bubble Yum gum and Breath Savers mints at its Memphis candy factory as part of a $40 million expansion. Hershey, based in Hershey, Pa., bought the product lines from...

Chicago Business Buys Memphis, Tenn.-Based Publishing Company.
September 18, 2001... Byline: David Flaum Sep. 18--Towery Publishing Co. of Memphis has been sold to The Oxford Companies of Chicago, executives of the two firms said Monday. The price of the deal was not disclosed. Both companies are privately held. ...

Memphis, Tenn.-Area Realtors Report Fewer Sales in Past Week.
September 18, 2001... Byline: Jerome Obermark Sep. 18--Realtors and builders in the Memphis area reported lower traffic but surprisingly good housing sales last week in the aftermath of terrorist attacks Tuesday in New York and Washington. Among most...

Memphis, Tenn.-Area Travel Agencies Feel Terror's Sting.
September 18, 2001... Byline: Mark Watson Sep. 18--Already staggered by cuts in corporate travel and airline commissions, local travel agencies consider the terrorist attacks of Sept. 11 and the subsequent airline grounding a "devastating blow" to their...

Bush, Congress Agree That Airline Bailout Is Necessary.
September 19, 2001... Sep. 19--WASHINGTON--The Bush administration and congressional leaders agreed Tuesday that the airlines should be quickly bailed out for their losses last week, estimated at about $5 billion. But they stopped short of endorsing the...

Memphis, Tenn.-Based AutoZone Reports Increase in Earnings Per Share.
September 19, 2001... Byline: Linda A. Moore Sep. 19--AutoZone Inc. reported unaudited fourth-quarter results of $1.07 in earnings per share before non-recurring charges and an 8 percent increase in sales at stores open at least one year. Memphis-based...

Memphis, Tenn.-Area Better Business Bureau Sets Up Disaster Hotline.
September 19, 2001... Byline: David Flaum Sep. 19--The Better Business Bureau of the Mid-South has set up a disaster appeals monitoring hotline for people with questions about solicitations related to the attacks in New York and Washington. If you get...

New Comic Book Warehouse to Create 150 Jobs in Shelby County, Tenn.
September 19, 2001... Byline: Christopher Barton Sep. 19--One of the world's largest comic book distributors plans to spend nearly $5.2 million to open a warehouse and distribution center in Shelby County. Officials with Diamond Comic Distributors Inc. of...

Consumers Too Stunned to Go Shopping.
September 19, 2001... Byline: Linda A. Moore Sep. 19--American and Mid-South consumers stayed away from car lots and shopping malls last week, focusing on the tragedy that hit New York, Washington and the nation. J.D. Power and Associates reports that...

Shareholders of Memphis, Tenn.-Based Riddell Sports to Vote on Name Change.
September 19, 2001... Byline: David Flaum Sep. 19--Riddell Sports Inc. shareholders will vote on changing the name of the company to Varsity Brands Inc. and to elect directors at the company's annual meeting at 10 a.m. today in company offices at 2525 Horizon...

Memphis, Tenn., Airport Issued $164.24 Million in Bonds for Construction.
September 20, 2001... Byline: David Flaum Sep. 20--Making payments on airport construction bonds may become difficult in some cities as air travel declines in the wake of the terrorist attacks on New York and Washington, but Memphis International Airport...

New Head Named for Memphis, Tenn.-Based Apartment Management Firm.
September 20, 2001... Byline: Jerome Obermark Sep. 20--Brent Garrett, former director of commercial sales for ARS, a division of ServiceMaster Co., has been named president and chief executive officer of Memphis-based LEDIC Management Group Inc. LEDIC is a...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
September 20, 2001... Byline: David Flaum Sep. 20--QUESTION: My parents are visiting me from a foreign country and keeping my baby. They meet the test to be resident aliens and to be claimed as our dependents. Before they came, I set up a pretax child-care...

Sports Company Gets New Name, Headquarters in Memphis, Tenn.
September 20, 2001... Byline: David Flaum Sep. 20--Riddell Sports Inc. became Varsity Brands Inc. Wednesday after a nearly unanimous shareholder vote on the name change, which moves the Memphis-based company toward its roots. The vote came at the company...

Embattled Tissue Company Makes Promises to Memphis, Tenn., Workers.
September 20, 2001... Byline: Christopher Barton Sep. 20--An official with American Tissue Inc., which filed for bankruptcy last week, said Wednesday the company is operating its Memphis tissue mill with 215 workers, and plans to fulfill its commitments to the...

Tennessee Governor Asks Lawmakers to Make New Budget for Fiscal 2001-02.
September 21, 2001... Byline: Christopher Barton Sep. 21--JACKSON, Tenn.--Gov. Don Sundquist on Thursday made an urgent plea for lawmakers to return with a new budget for fiscal 2001-2002, citing an expected $200 million shortfall because of the Sept. 11...

Computer Worm Has Been Much Worse than Predecessor, Code Red.
September 21, 2001... Byline: Mark Watson Sep. 21--The Nimda computer worm is proving to be much worse than the Code Red worm, local information systems experts said Wednesday, but it infected few local systems. Around the world, the worm caused Web sites...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
September 21, 2001... Byline: Linda A. Moore Sep. 21--Within hours of the terrorist attacks on the World Trade Center and the Pentagon, scam artists were sending out E-mails offering opportunities to make donations to victims and their families. Of course,...

FedEx Reports 38 Percent Decline in First Quarter.
September 21, 2001... Byline: Richard Thompson Sep. 21--Memphis-based FedEx Corp. reported Thursday a 38 percent drop in net income for its fiscal first quarter 2002, which ended Aug. 31, citing continued weakness in the economy that's reducing demand for its...

J.C. Penney to Close Anchor Store at Memphis, Tenn., Mall.
September 22, 2001... Byline: Jerome Obermark Sep. 22--The J.C. Penney store at the Mall of Memphis announced Friday it will close Nov. 29. The 123,000-square-foot store is the southeast Memphis mall's last anchor tenant. Dillard's announced this year plans...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
September 22, 2001... Byline: David Flaum Sep. 22--BE PREPARED FOR DISASTERS BY KEEPING DOCUMENTS SAFE: Disasters -- from terrorist attacks to tornadoes to fires -- strike without warning. While your personal safety is paramount in catastrophes, pulling...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
September 22, 2001... Byline: David Flaum Sep. 22--Disasters -- from terrorist attacks to tornadoes to fires -- strike without warning. While your personal safety is paramount in catastrophes, pulling your life back together after such events includes...

Northwest Airlines to Cut 1,100 Jobs in Memphis, Tenn.
September 22, 2001... Byline: Mark Watson Sep. 22--Northwest Airlines and its Memphis-based commuter subsidiary announced plans Friday that will eliminate about 1,100 jobs here. Northwest's elimination of its set of late evening flights will cut 400 to 500...

Memphis, Tenn., Vacation Rental Company to Cut 100 Jobs.
September 22, 2001... Byline: Jerome Obermark Sep. 22--ResortQuest International Inc., a Memphis-Tenn.,based manager of vacation rental properties, announced Friday it will lay off or eliminate jobs of more than 100 employees. The companywide job cuts will...

Switzerland-Based Caterer Plans Layoffs as Airlines Reduce Meals.
September 25, 2001... Byline: Richard Thompson Sep. 25--Gate Gourmet International, the Switzerland-based airline caterer, said Monday that it plans to immediately eliminate 3,000 jobs, primarily in North America. The layoffs represent about 10 percent of...

Organizers Plan Independent Bank in Memphis, Tenn., Area.
September 25, 2001... Byline: David Flaum Sep. 25--When they open a branch of Security Bank of Newbern, Tenn., in Millington next week, organizers hope it will be the first step in establishing a new, independent bank -- Patriot Bank. The branch, which will...

Retailers at Memphis, Tenn., Mall Worry about Departure of J.C. Penney.
September 25, 2001... Byline: Linda A. Moore Sep. 25--Although merchants at the Mall of Memphis are duly concerned the mall is losing J.C. Penney, some say the retailer is a victim of to the same traffic patterns that forced Dillard's, as well, to announce its...

Package Volume Grows for FedEx Home Service; New Terminals Open Nationwide.
September 26, 2001... Byline: Richard Thompson Sep. 26--FedEx Home, the dedicated residential delivery service with a puppy logo, was expanded to reach 80 percent of the U.S. population Tuesday. Sixty-three new terminals opened in 28 states, serving cities...

Maker of Tear Duct Implant to Expand Operations in Memphis, Tenn.
September 26, 2001... Byline: Christopher Barton Sep. 26--A Memphis-based medical device company plans to hire about 15 workers in the next year as it grows with its core product -- a silicon implant for tear ducts that is about the size of a grain of salt. ...

Northwest Eliminates Day, Evening Flights at Memphis, Tenn., Airport.
September 26, 2001... Byline: Richard Thompson Sep. 26--Yes, Northwest Airlines Corp.'s evening slate of flights from Memphis International Airport will be gone when the new schedule goes into effect Oct. 1. But as some travelers have discovered, the cuts...

East Memphis, Tenn.-Based Business Challenges Pesticide Violation Allegations.
September 26, 2001... Byline: Tom Charlier Sep. 26--A Memphis-based company is negotiating with the U.S. Environmental Protection Agency to settle a case in which it was assessed the largest penalty ever issued for alleged violations of federal pesticide laws....

Auto-Parts Businesses in Memphis, Tenn., Reports Sales Climb, Profits Decline.
September 27, 2001... Byline: Christopher Barton Sep. 27--Despite the sluggish economy, Memphis-based AutoZone Inc. reported Wednesday that sales had increased for its fourth fiscal quarter, but profits were down because of one-time charges. Investors...

Memphis, Tenn., Hospital Announces Switch in Chief Executives.
September 27, 2001... Byline: Mark Watson Sep. 27--The operator of Memphis's largest hospital is changing chief executives effective Oct. 1. Maurice Elliott, 61, is stepping down as chief executive officer of Methodist Healthcare, and Gary Shorb, 51, now...

More Students, Fewer Businesses Attend Job Fair in Memphis, Tenn.
September 27, 2001... Byline: Christopher Barton Sep. 27--More than 1,300 students attended the Corporate/Government Job Fair Wednesday at the University of Memphis, hundreds more than last year. The larger crowd was likely taking a cue from the slowing...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
September 27, 2001... Byline: David Flaum Sep. 27--Q -- My father, who died this year, put his house in my name by way of a quitclaim deed in 1971. I sold the house, the proceeds of which are $40,000, which I will divide evenly among my three siblings and...

Northwest Announces Pay, Flight Privileges for Some Hit by Job Cuts.
September 27, 2001... Byline: Richard Thompson Sep. 27--In addition to extended medical coverage, Northwest Airlines Corp. said Wednesday about 5,500 laid-off employees will also be given pay and flight privileges as well. "We hope this will help them...

Memphis, Tenn., Airport Cuts Spending.
September 28, 2001... Byline: Richard Thompson Sep. 28--With its main customers -- passenger airlines -- reeling financially, Memphis International Airport is reducing its own expenditures to help them save money. "We certainly think that's appropriate"...

Two Lenders Enter Memphis, Tenn., Area with Mortgage Refinance Products.
September 28, 2001... Byline: David Flaum Sep. 28--Out-of-town loan companies have jumped into the Shelby County market, particularly the inner city Memphis areas, with mortgage refinance products, filling a vacuum left by regulated lenders such as banks,...

Memphis, Tenn.-Based FedEx Subsidiary Receives $101 Million in Federal Aid.
September 29, 2001... Byline: Richard Thompson Sep. 29--Memphis-based FedEx Express, a subsidiary of FedEx Corp., said it received $101 million in federal assistance Friday. The air express unit received the payment from the federal government under the Air...

Foreign `Lottery' Letters Inundate Tennessee Residents with False Promises.
September 29, 2001... Byline: David Flaum Sep. 29--The letters filling some MidSouth mailboxes in the past couple weeks start like this: "We joyfully salute you on this occasion confirming this announcement which now recognizes you as . . . known recipient for...

Longtime Memphis, Tenn., Real Estate Guru Highly Regarded by Peers.
September 29, 2001... Byline: Jerome Obermark Sep. 29--Frank M. Campbell made $200 a month in 1947, his first year in real estate, and he didn't sell a thing. That's not the stuff of television commercials about people getting rich quick selling real...

United Parcel Service Lowers Third Quarter Earnings Projections.
September 29, 2001... Byline: Richard Thompson Sep. 29--Not surprisingly, Atlanta-based United Parcel Service Inc. Friday reduced earnings expectations for the third quarter, saying its volume declined more than 10 percent during the week of the terrorist...