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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
64°F
Partly Cloudy
Wind: 6 mph
Humidity: 75%

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 38 349 15,066
MORTGAGES 111 449 19,779
FORECLOSURE NOTICES 33 91 3,886
BUILDING PERMITS 0 512 35,842
BANKRUPTCIES 62 309 14,343
BUSINESS LICENSES 18 138 5,129
UTILITY CONNECTIONS 69 385 21,817
MARRIAGE LICENSES 13 106 4,663

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