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VOL. 123 | NO. 10 | Tuesday, January 15, 2008

Year of the 'Tailspin'

Year-end numbers show how mortgage industry went from bad to worse

Like victims of a car accident, mortgage company executives might be checking body parts to make sure everything is intact. That's because 2007 turned into a multi-vehicle pileup for the industry - and not everyone survived.

Kroger Latest Business to Leave Hickory Hill

For years, Hickory Hill residents have watched the neighborhood slowly decline as one business after another leaves.

Alvord Enterprise Group Buys 2 Office Centers

3242 and 3238 Players Club Circle, And 6465 Quail Hollow Road, Unit 2, Sale Amount: $4.4 million -
Alvord Enterprise Group LLC has bought the Southwind Executive Suites and Office Center, two buildings at 3238 and 3242 Players Club Circle and the International Conference and Business Center at 6456 N. Quail Hollow Road, Unit 2. The properties will be used for Alvord's new subsidiary, Alvord Executive Offices LLC, which will own and manage office suites, training facilities and conference centers.

Q4 Non-Commercial Mortgages Drop 36%

Non-commercial mortgage filings tapered off throughout 2007, but they suffered their largest declines in December and during the fourth quarter.

Lee Case Twists and Turns

Within the past few days, each side in the pending federal corruption case against former Memphis Light, Gas & Water Division president Joseph Lee has considerably upped the ante.

Local Weather
Currently
Memphis, TN
47.0°F
Fair
Wind: Calm mph
Humidity: 59%

EVENTS

The Memphis Rotary Club will meet today at noon in Ballroom B of the Memphis Cook Convention Center, 255 N. Main St. A lunch buffet will be provided for $18. Dr. George Nicopoulos and Maurice Elliott will be the speakers. Reservations should be made to Taylor Hughes at 526-1318 or taylor@memphisrotary.org.

more events »

School Overcrowding Collides With Desegregation Decision, Appeals

Shelby County Schools officials want to build two new schools - a middle school and an elementary school in the Arlington-Lakeland area and Southeast Shelby County - and open them in time for the 2009-2010 school year.

Save Libertyland!, Ericson Reach Deal for Zippin Pippin

The group that may or may not own the Zippin Pippin has reached an agreement with one of the companies that wants to develop attractions in and around The Pyramid.

Traffic Fatalities in Tennessee Dropped 9 Percent in 2007

NASHVILLE (AP) - Traffic deaths in Tennessee fell by about 9 percent in 2007, to their lowest level in 15 years.

Federal Policy Will Let Airports Charge Landing Fees Based on Time of Day, Traffic Volume

WASHINGTON (AP) - Congested airports nationwide can charge landing fees based on the time flights land and traffic volume instead of on the plane's weight, according to a federal policy introduced Monday.

Temporary Transfer Recommendations Presented to Bredesen

NASHVILLE (AP) - A panel asked to propose a mechanism for an incapacitated governor to temporarily transfer powers has issued its findings to Gov. Phil Bredesen.

Obama’s Memphis Office to Open Thursday in Eastgate

With three weeks to go before Tennesseans vote in the Feb. 5 “Super Tuesday” presidential primary, the campaign of Sen. Barack Obama, D-Ill., has established an office in Memphis and will host a grand opening celebration Thursday night. The Obama campaign, which opened an office in Nashville earlier this month, is leasing space in the Eastgate Shopping Center, at 5026 Park Ave.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 55 55 20,821
MORTGAGES 44 44 24,405
FORECLOSURE NOTICES 0 0 8,610
BUILDING PERMITS 0 0 42,337
BANKRUPTCIES 51 51 13,953
BUSINESS LICENSES 22 22 6,423
UTILITY CONNECTIONS 0 0 13,511
MARRIAGE LICENSES 23 23 5,092

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