VOL. 123 | NO. 201 | Tuesday, October 14, 2008
Of all the industries affected by the economic downturn – and there are many – the mortgage business has perhaps taken the biggest hit.
Banks and other financial institutions in Tennessee have shown little interest in the $700 billion rescue plan for the country’s financial system.
WASHINGTON (AP) – The Bush administration announced Monday it is moving quickly to implement a $700 billion rescue program, including consulting with private law firms on how to buy ownership shares in banks to help thaw frozen lending and get the economy moving again.
NEW YORK (AP) – Morgan Stanley completed a deal Monday to receive a $9 billion investment from Japanese bank Mitsubishi UFJ Financial Group Inc., giving it a much-needed cash infusion.
7751 Centennial Drive, Memphis, TN 38125, Permit Amount: $10.6 Million -
Michael Lightman Realty Co. has filed a $10.6 million permit application with the city-county Department of Construction Code Enforcement to build the second phase of the Centennial Gardens apartments at 7751 Centennial Drive in Southeast Memphis. The property is off Hacks Cross Road south of Winchester Road.
NEW YORK (AP) - Wall Street snapped back from last week's devastating losses after major governments announced further steps to support the global banking system, including plans by the U.S. Treasury to buy stocks of some banks. All the major indexes rose more than 8 percent, and the Dow Jones industrials rose more than 700 points.
WASHINGTON (AP) - House Republicans and Democrats pushed dueling economic stimulus measures Monday as evidence mounted that the financial meltdown is dominating the presidential race and House and Senate campaigns.
A look at what happened in some stock markets around the world Monday:
SEATTLE (AP) - The president of the Machinists union says negotiators are having a "tough time" trying to end a five-week strike at the Boeing Co.
NEW YORK (AP) - Beef may not be what's for dinner at your favorite restaurant come 2009.