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VOL. 123 | NO. 34 | Tuesday, February 19, 2008

$16M Bid Chosen for Two Apartment Complexes

Two Memphis apartment properties originally developed with low-income renters in mind - and whose cash-strapped owners filed for bankruptcy protection last year - appear likely to be snapped up soon by a private equity fund for $16 million.

Big-Picture Economics Topic Of Property Summit

A host of experts will discuss the bigger picture of the U.S. and global economies as well as local real estate matters at this week's Commercial Property Forecast summit, hosted by the Memphis Area Association of Realtors' Commercial Council.

New School to Rise On Church Property

675 National St.

Platinum Plus Owner Sentenced

It might have been one of the more unique statements ever made during a sentencing hearing in Memphis federal court.

First Horizon CEO Got $3M in 2007

NEW YORK (AP) - Gerald L. Baker, president and chief executive of First Horizon National Corp., received compensation valued at about $3 million in fiscal 2007, according to a regulatory filing Friday.

Local Weather
Today
Memphis, TN
54°F
Mostly Cloudy
Wind: 5 mph
Humidity: 62%

EVENTS

The Memphis Rotary Club will meet today at noon in the Steamboat Room of the Memphis Cook Convention Center, 255 N. Main St. A lunch buffet will be provided for $18. Shelby County Mayor A C Wharton Jr. will give his annual State of the County address. Reservations should be made to Taylor Hughes at 526-1318 or taylor@memphisrotary.org.

more events »

Regulators Hope to Make Wall Street Pay for its Role in Subprime-Mortgage-Fueled Housing Bust

BOSTON (AP) - Regulators are trying to punish Wall Street for mortgage finance practices that expanded home ownership and spread risk among a host of new players - but also may have duped borrowers and investors who supplied cash to fuel a housing boom that's turned bust.

Seismic Concerns Leave Pyramid-Bass Pro Terms Still Shaky

The city of Memphis approached Bass Pro Shops in 2005 about developing a store and other attractions in The Pyramid. That was one of the disclosures made today by Robert Lipscomb, the Herenton administration’s point man on the Pyramid development plan.

Wharton Suggests Educational Neglect Statute

Shelby County Mayor AC Wharton Jr. is exploring the idea of a state law that would make it a crime for parents to neglect their children’s education. Wharton floated the idea during his State of the County speech today at the Memphis Rotary Club.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 368 16,413
MORTGAGES 66 422 21,432
FORECLOSURE NOTICES 15 76 4,266
BUILDING PERMITS 176 877 39,378
BANKRUPTCIES 60 294 15,542
BUSINESS LICENSES 20 98 5,491
UTILITY CONNECTIONS 69 423 23,573
MARRIAGE LICENSES 17 95 5,035

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The Memphis News: Business, politics, and the public interest.