Editorial Results (free)
1. Citigroup Agrees to Pay $968 Million to Fannie Mae
- Tuesday, July 02, 2013
NEW YORK (AP) – Citigroup has agreed to pay $968 million to Fannie Mae to resolve potential future repurchase claims on residential mortgage loans originated between 2000 and 2012.
A sizable group of the loans were originated during the U.S. housing boom. Mortgage giants Fannie Mae and Freddie Mac bought mortgage loans from banks like Citigroup in the run-up to the financial crisis. Fannie and Freddie teetered as the loans went bad, and they were effectively nationalized in 2008. The government has spent billions to keep Fannie and Freddie afloat.
2. Is Your Pension Plan Safe?
- Thursday, November 22, 2012
Ray’s Take While most companies have abandoned pension plans for 401(k) programs, there are still countless employees counting on their pension plan to fund their retirement years. The question is: Will that pension plan still be around when the time comes?
3. Vanderpool Takes Reins at FAA Federal Credit Union
- Monday, October 01, 2012
Banking is not a complicated business, but it’s a hard business.
That’s what Todd Vanderpool, then-CEO of BankTennessee, told The Daily News in 2010. It was a couple years removed from the near-market collapse of 2008. But the scars of 2008 still showed up in some of Vanderpool’s general comments about the industry.
4. First Tennessee Unit to Move Downtown
- Friday, September 07, 2012
First Tennessee Bank is preparing its Downtown Memphis headquarters for occupancy of one of its units.
5. New Tractor Supply Slated for West Memphis
- Monday, September 03, 2012
Construction is set to begin in early September on a new 20,000-square-foot Tractor Supply Co. facility at the corner of College Boulevard and the Interstate 40 service road in West Memphis.
6. US Makes $62.4M on Sale of Stock in 4 Small Banks
- Monday, August 27, 2012
WASHINGTON (AP) – The government says it made $62.4 million on the sale of its stock in four small banks that were bailed out during the 2008 financial crisis.
The Treasury Department announced Friday the results of its latest auction of its preferred stock in small banks. The government sold its shares for $5.1 million less than its original investment in the four banks of $67.5 million. But overall the Treasury says the investment was profitable after counting $12.1 million in dividends it received from the banks, for total income of $74.5 million.
7. New Law Gives US Companies a Break on Pensions
- Tuesday, July 10, 2012
WASHINGTON (AP) – A new law will let companies contribute billions of dollars less to their workers' pension funds, raising concerns about weakening the plans that millions of Americans count on for retirement.
8. $17M in Permit Applications Filed for Miller Creek Apts.
- Tuesday, May 22, 2012
Miller Creek Apartments
Germantown, TN 38125
Permit Cost: $17.2 million (20 permits)
Permit Date: Applied May 2012
Owner: Miller Creek Residences LLC
9. Missouri Co. Buys Wolf River Blvd. Land
- Friday, May 18, 2012
Springfield, Mo.-based Collierville Assisted Living LLC has bought 7 acres in the 1500 block of Wolf River Boulevard in Collierville from Halle Acquisition Fund for $1.1 million, filing an $8.5 million construction mortgage at the time of purchase.
10. Evolve Designated Preferred Lender
- Friday, March 16, 2012
Evolve Bank & Trust has been designated a preferred lender within the U.S. Small Business Administration Preferred Lender Program.
11. American Airlines Aims to Cut 13,000 Jobs
- Thursday, February 02, 2012
DALLAS (AP) – The parent of American Airlines wants to eliminate about 13,000 jobs – 15 percent of its workforce – as the nation's third-biggest airline remakes itself under bankruptcy protection.
12. Bluff City Coffee Inks New Space
- Friday, January 20, 2012
Bluff City Coffee, the coffee and snack shop in Downtown’s South Main Historic Arts District, has recently unveiled some aggressive expansion plans.
The local eatery has leased a 3,000-square-foot kitchen in the Pembroke Building, 119 S. Main St., in the space behind the Center for Southern Folklore.
13. Delta Shares Up on Report of Interest in AMR
- Friday, January 13, 2012
FORT WORTH, Texas (AP) – Shares of Delta Air Lines Inc. rose Thursday after a report that the world's second-biggest airline may try to buy American Airlines parent AMR Corp.
14. 3 Senior Executives Leaving American Airlines
- Wednesday, December 07, 2011
DALLAS (AP) – The exodus of top leaders at American Airlines is growing, a week after parent AMR Corp. filed for bankruptcy protection.
15. A Primer for Seeking Capital as a Start-Up
- Thursday, October 27, 2011
Start-up entrepreneurs that come up with the next world-changing investment strategy or widget are always faced with the difficult challenge of raising the initial capital needed just to get the idea off the ground.
16. IP, Temple-Inland Reach Merger Deal
- Wednesday, September 07, 2011
Memphis-based International Paper Co. will buy Temple-Inland Inc. of Austin, Texas, in a $4.3 billion deal announced Tuesday, Sept. 6, that increases IP’s dominance in industrial packaging.
17. Temple-Inland Reopens Bogalusa Paper Mill
- Tuesday, August 30, 2011
Austin, Texas-based Temple Inland Inc. is preparing to restart its paper mill in Bogalusa, La., the company said in a Monday, Aug. 29, filing with the Securities and Exchange Commission.
18. IP Stays Fixed on Temple-Inland Pursuit
- Thursday, August 25, 2011
The chief financial officer of Memphis-based International Paper Co. said this week the company is still interested in buying competitor Temple-Inland of Austin, Texas.
19. Fannie Mae Loss Widens; Asking Taxpayers for $2.8B
- Monday, August 08, 2011
NEW YORK (AP) – Government-controlled mortgage company Fannie Mae said Friday that its second-quarter loss widened as it continues to seek loan modifications to help reduce defaults amid the ongoing difficulties in the housing and mortgage markets.
20. Small Biz: Where’s Our Stimulus?
- Monday, March 08, 2010
The U.S. government has pumped billions of dollars into the economy to stabilize the banking system and keep money flowing, but not much is trickling down to small-business owners like Mitch Jacobs.
21. FDIC May Need Help
- Thursday, August 27, 2009
NEW YORK (AP) – The government agency that guarantees you won't lose your money in a bank failure may need a lifeline of its own.
The coffers of the Federal Deposit Insurance Corp. have been so depleted by the epidemic of collapsing financial institutions that analysts warn it could sink into the red by the end of this year.
22. US Thrifts Earn $4M in Q2
- Thursday, August 27, 2009
WASHINGTON (AP) – U.S. thrifts eked out a $4 million profit in the second quarter, but the number of troubled institutions continued to rise, the government reported Wednesday.
The Office of Thrift Supervision said the small profit in the April-June period marked the industry's first positive earnings since the third quarter of 2007. It compared to a loss of $5.4 billion in the year-ago period, and $1.62 billion in the first quarter of this year.
23. Former Head of Pension Agency Takes the Fifth
- Thursday, May 21, 2009
WASHINGTON (AP) - The former director of the government's pension agency took the Fifth Amendment at a Senate hearing where lawmakers quizzed him about allegations that he had inappropriate contacts with three Wall Street firms.
24. Citigroup to Lower Some Mortgage Payments
- Wednesday, March 04, 2009
NEW YORK (AP) - Citigroup Inc. said Tuesday that it will lower mortgage payments for some homeowners to an average of $500 a month for three months as part of a new program to help the unemployed.
25. Government Pension Agency Braces for Recession
- Tuesday, February 17, 2009
WASHINGTON (AP) - The deepening recession spells trouble for a little-known government corporation that insures the pensions of 44 million workers and retirees.
The Pension Benefit Guaranty Corp. already has an $11 billion deficit that seems sure to grow larger as Corporate America suffers through the worst economic crisis since the Great Depression.
26. Lehman’s Chaotic Bankruptcy Destroyed Billions
- Tuesday, December 30, 2008
As much as $75 billion of Lehman Brothers Holdings Inc. value was destroyed by the unplanned and chaotic form of the firm’s bankruptcy filing in September, according to an internal analysis by the company’s restructuring advisers.
27. Inaction on Big 3 Would Cost Taxpayers Billions
- Thursday, December 11, 2008
WASHINGTON (AP) - The U.S. auto industry's problems will cost taxpayers plenty whether or not the government helps Detroit.
Just walking away and letting the struggling Big Three automakers go under would drain government coffers by about as much as the $15 billion bridge loan that lawmakers are preparing, and perhaps much more, according to outside analysts. The costs would come from lower tax collections by the federal, state and local governments and the payment of extra unemployment, pension and other benefits to unemployed or retired auto workers.
28. FDIC Chief Wants Home Loans Part of Bailout Plan
- Wednesday, September 24, 2008
WASHINGTON (AP) - As Congress moves on the financial bailout plan, restructuring of troubled mortgages should be part of the final package, the head of the Federal Deposit Insurance Corp. said Tuesday.
29. PBGC Downplays Investment Plan Risks
- Tuesday, August 19, 2008
WASHINGTON (AP) – The federal agency charged with backstopping pension benefits for 44 million Americans has understated the risks of its new investment policy, a congressional watchdog said Monday.
30. Treasury Rules Against Pension Plan Transfers
- Friday, August 08, 2008
WASHINGTON (AP) - The Bush administration dealt a blow to the already reeling financial services sector Wednesday, ruling that companies can't transfer their pension plans to large banks to be managed for a profit.
31. Federal Pension Agency Seeks Investment Partners
- Tuesday, August 05, 2008
WASHINGTON (AP) - The federal agency that backs the retirement benefits of 44 million Americans is seeking financial firms to invest about $2.5 billion of its assets in private equity and real estate.
32. House Discusses Impact Of Delta-Northwest Merger
- Thursday, July 31, 2008
Officials of unions that represent Northwest Airlines Corp. flight attendants, ramp workers and reservation agents told lawmakers Wednesday they are worried Delta Air Lines Inc.’s plan to combine the two carriers could lead to lost pension benefits for employees.
33. Memphis Health Care Employees Enjoy Better Pensions
- Thursday, October 25, 2007
More than 22,000 workers at Memphis' largest health care institutions likely will avoid a looming domino effect of failing pension plans at hospitals on the East Coast. They can thank their employers for converting pension structures from the traditional defined benefits to the newer defined contributions approach.
34. Ginnie Mae Acts to Enable More Low-Cost Mortgage Financing for Veterans
- Friday, August 31, 2007
WASHINGTON (AP) - The government is taking action to enable more low-cost financing to be available for military veterans buying homes in pricier areas of the country.
The Government National Mortgage Association, known as Ginnie Mae, is eliminating the $417,000 cap on mortgages guaranteed by the Department of Veterans Affairs that are bundled together as securities and backed in turn by Ginnie Mae.
35. Bond Insurers See Ill Winds
- Tuesday, August 28, 2007
When a hurricane slams into Florida, investors dump shares of companies that insure homes. When a storm of defaults engulfs the bond market, investors naturally sell the companies that insure bonds. In both cases, the selloffs are often overdone.
36. 'If You Build It'
- Monday, June 19, 2006
In the 1989 movie "Field of Dreams," a mysterious voice tells Kevin Costner's character, Ray Kinsella, "If you build it, they will come," referring to the construction of a baseball field in the middle of Iowa farmland. A Chicago-based development company is taking that approach, except with a large-scale warehouse project at the northwest edge of West Memphis, Ark., touching the border of Marion.
37. Archived Article: Real Recap
- Tuesday, January 11, 2005
Kohner Refinances The Villages at Harrison Creek
Kohner Refinances The Villages at Harrison Creek
3855 Jackson Ave.
Memphis, TN 38128
Cost: $7.3 million
Borrower: Harrison Creek LLC
Lender: Mortgage Electronic Registration Systems ...
38. Archived Article: Law Talk
- Thursday, February 12, 2004
Law Talk Buck Wellford
McLean Joins Fight for Promenade Protection
LANE GARDNER CAMP
The Daily News
Hite McLean is an employment discrimination lawyer in Memphis, but recently has been devoting time to Friends for Our Riverfront as a mem...
39. Archived Article: Real Focus
- Tuesday, November 12, 2002
By STACEY WIEDOWER
Agencies say wait and see on changes to Fed program
By STACEY WIEDOWER
The Daily News
The Government National Mortgage Association, or Ginnie Mae, has proposed changes to its Mortgage-Backed Securities program that Gin...
40. Archived Article: Real Review
- Tuesday, October 03, 2000
Industrial Developments International LP, a Georgia limited partnership, financed $6 Allen and OHara opens student residence projects Allen and OHara Education Services LLC opened Bettie Johnson Hall at the University of Louisville and University Pa...
41. Archived Article: Benchmark
- Thursday, April 06, 2000
Creditrust Corporation on Wednesday filed an 18-count suit for $130 million in compensatory damages against Enhanced Financial Services, Asset Guaranty Insurance Company, and Charles Henneman, Senior Vice President of EFS Creditrust Corp. files suit...
42. Archived Article: Real Review
- Tuesday, January 11, 2000
Real Estate Review Real Estate Review 01-11-00 Valenti Mid-South finances loans worth $23.7 million Valenti Mid-South Realty LLC, a Tennessee limited liability company, and Valenti Mid-South Management LLC, a Tennessee limited liability company whos...
43. Archived Article: Real Review
- Tuesday, March 02, 1999
By LAURIE JOHNSON Alan L. Mullen financed $1.5 million through Trust One Bank, securing the loan with property on Crestwyn Hills Drive, according to a trust deed filed Feb. 19 in the Shelby County Registers Office. Memphis Tradecenter Partners Two L...
44. Archived Article: Graphic
- Tuesday, October 06, 1998
Following is a look at the top mortgage lenders in Shelby County based on dollar amounts, according to trust deeds issued in the Shelby County Register's Office Sept Union Planters National Bank and First Tennessee Bank topped the list of local mort...
45. Archived Article: Bank Moves
- Thursday, October 01, 1998
By LAURIE JOHNSON First American Bank to relocate Downtown By LAURIE JOHNSON The Daily News First American National Bank is moving its Downtown Second Street branch to the Peabody Place development on South Main. Renovations are underway at Peabody ...
46. Archived Article: Back
- Wednesday, March 25, 1998
Company Press Release Deposit Guaranty Corp. completes purchase of Victory Bancshares Deposit Guaranty Corp. completed its purchase of Memphis-based Victory Bancshares and its wholly owned subsidiary, Victory Bank, on Monday. Initial plans for the p...
47. Archived Article: Back
- Thursday, March 12, 1998
Company Press Release Two banks to retain names after merger Deposit Guaranty National Bank and First American National Bank will continue to operate under their current names following the pending merger of Deposit Guaranty Corp. and First American...
48. Archived Article: Resourcenet Chg
- Thursday, October 09, 1997
Construction has started on a 45,600 square foot addition to ResourceNet ResourceNet doubles space at Airport Industrial Park By CAMILLE H. GAMBLE The Daily News Farnsworth Investment Co. has borrowed $2.7 million from Deposit Guaranty National Bank...
49. Archived Article: Govt Briefs
- Friday, June 13, 1997
The U The U.S. Small Business Administration announced this week that SBA would have an additional $2.47 billion available under its 7(a) small business loan guaranty program this year. The additional resources will help the SBA resolve a funding sh...
50. Archived Article: N Miss Expo 97 Lj
- Thursday, May 22, 1997
lj 10/5 cates DeSoto County expo spotlights business By LAURIE JOHNSON The Daily News With every booth sold out and more than a thousand complimentary tickets distributed, organizers of DeSoto Countys first business exposition anticipate that the ev...
51. Archived Article
- Friday, June 28, 1996
lj 10/5 cates Construction progressing on 1 million-square-foot Midway Distribution Center By LAURIE JOHNSON The Daily News Construction is underway on the first phase of Midway Distribution Center, The Weston Cos. new 1 million-square-foot speculat...
52. Archived Article: Real Review Lj
- Tuesday, June 25, 1996
lj 10/5 cates Market commentary. Last week, mortgage rates on 30-year fixed rate conventional and government loans remained unchanged. Mortgage interest rates remained within a narrow range amid almost no volatility last week as economic data releas...
53. Archived Article: Gov Analysis
- Friday, May 31, 1996
gov. anal Politics of scandals By Berje Yacoubian Whitewater is no Watergate! And as Ross Perot would say, "You know it, I know it, and the American people know it." What is whitewater anyway? The American Heritage dictionary defines white...
54. Archived Article: Back
- Wednesday, March 13, 1996
03-13 Back New apartments will be constructed in Southaven Church Lake Apartments, a 352-unit property, is planned for the northeast quadrant of Church Road and E. W. Ross Parkway in Southaven. The site is adjacent to the new Northwest Mississippi C...
55. Archived Article: Real Review Lj
- Tuesday, February 13, 1996
lj 10/5 cates Real Review Transactions. Farnsworth Industrial Properties III LLC, a Tennessee limited liability company, composed of Thomas C. Farnsworth Jr. and Thomas C. Farnsworth III, borrowed $2.7 million from Deposit Guaranty National Bank, se...
56. Archived Article: Northwest
- Thursday, December 28, 1995
12/27 jts Northwest Northwest, Bridgestone-Firestone pinch pensions By JAMES SNYDER The Daily News Northwest Airlines, the dominant passenger air carrier in Memphis, has entrenched itself on a list of 50 companies with the largest underfunded pensio...
57. Archived Article: Real Estate Back
- Monday, December 11, 1995
12/11 Real estate (back) Local LP Buys Aspenwood Square Apartments for $2.2 million By ED RAINS The Daily News Aspenwood Square apartments, a 120-unit complex built in the early 1970s and located on Mendenhall Road south of Knight Arnold Road, sold ...
58. Archived Article: Jts Small Business Loans
- Monday, October 30, 1995
10/30 jts Small Business Focus SBA changes fee, guaranty level with new law Code should reduce costs, increase loans By JAMES SNYDER The Daily News Two-week old changes in the Small Business Administration fee structure and loan formula are d...