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VOL. 125 | NO. 200 | Thursday, October 14, 2010

Foreclosures Hit Higher-Income Suburbs

The rate of foreclosures in the suburbs surged during the third quarter, while the problem showed signs of ebbing in some of Memphis’ hardest hit neighborhoods, according to ZIP code data compiled by real estate information company Chandler Reports, www.chandlerreports.com.

Going Pink

Businesses get creative with breast cancer awareness

For 20 years, the massive, brightly-colored “CMOM” building block letters on the lawn of the Children’s Museum of Memphis on Central Avenue have stood testament to the private nonprofit’s mission to inspire a passion for learning in the city’s youngest citizens.

Pinnacle Applies For Tenant Improvement Grant

Downtown boosters are not finished adding incentives to the mix to solidify the headquarters relocation of Pinnacle Airlines Corp. from Memphis International Airport to Downtown's One Commerce Square.

Fallout Over Morgan Keegan Funds Continues

After losing a $7.1 million arbitration claim last month against Morgan Keegan & Co., the lawyer for a group of investors that includes the former chairman of the U.S. Chamber of Commerce is preparing to renew the fight against the Memphis firm in Shelby County Chancery Court.

SCOTN Rules Against Med In Third Party Lien Case

The Tennessee Supreme Court has put off limits to hospitals medical insurance proceeds an insurer pays to third party service providers.

Local Weather
Currently
Memphis, TN
71.0°F
Fair
Wind: South at 8.1 mph
Humidity: 94%

EVENTS

The Alliance for Nonprofit Excellence will hold a workshop Thursday from 8:30 a.m. to noon at its office, 5100 Poplar Ave., Suite 502. Melissa Hanson, director of grants and research at Christian Brothers University will speak on the topic “Research Grants.” Cost is $60 for members, $110 for nonmembers and $55 for those in the Program for Nonprofit Excellence. For more information, call 684-6605 or visit www.npexcellence.org.

more events »

U of M Ramping Up Sustainability Focus

Starting in spring 2011, the University of Memphis will offer a breakthrough real estate graduate program that will emphasize sustainability and ways to reduce carbon footprints.

Plans Unveiled for Expanded Civil Rights Museum

The bare bones of an expanded National Civil Rights Museum include three times more space for the Memphis chapter in the story of the civil rights movement, updated technology for exhibits and a more detailed story of how connected the events are over three centuries.

Alabama Avenue Could Become Residential Corridor

For years, the stretch of Alabama Avenue between Danny Thomas Boulevard and Poplar Avenue has been both a traffic shortcut and a hotspot for illegal drug sales and violent crime.

Longtime Prosecutor Weirich Embraces New Role as Deputy DA

In August, veteran prosecutor Amy Weirich made history when she was appointed Shelby County’s first female deputy district attorney.

Time to Get Back on the Horse

Ray’s Take: I’m hearing a lot of people talk about how they’ve cut back on their investments in 401(k)s, IRAs and long-term investments. The main reason they give is the poor performance of stocks over the last several years.

Thoughts on Workaholic Behavior

Workaholism is a common type of dysfunctional behavior.

REAL ESTATE

Officials in 50 States Launch Foreclosure Probe

WASHINGTON (AP) – Officials in 50 states and the District of Columbia have launched a joint investigation into allegations that mortgage companies mishandled documents and broke laws in foreclosing on hundreds of thousands of homeowners.

Mortgage Refinancing Requests Climb 21 Percent

NEW YORK (AP) – Applications for mortgage refinancings jumped last week, while purchase applications fell.

JPMorgan Exits Electronic Mortgage Tracking System

NEW YORK (AP) – JPMorgan Chase's CEO says the bank has stopped using the electronic mortgage tracking system used by major financial institutions.

NATIONAL BUSINESS

Wal-Mart CEO Says he Expects ‘Positive' 4Q Sales

NEW YORK (AP) – Wal-Mart is focusing on smaller-format stores, bringing back "Action Alley" – wide aisles filled with palettes of discounted merchandise – and offering same-day pickup for online purchases in some areas in an effort to jump start sluggish U.S. sales.

SEC Proposes Caps on Trading Venue Stakes

WASHINGTON (AP) – Federal regulators on Wednesday proposed to cap the stake that banks and other market players can own in exchanges where the complex investments blamed for hastening the financial crisis are traded.

JPMorgan Chase's Profit Jumps 23 Percent in Q3

NEW YORK (AP)JPMorgan Chase & Co. said Wednesday that its third-quarter profit jumped 23 percent because the banking giant was able to set aside less money to cover loan losses.

Proposed Burger King Buyout Clears Another Hurdle

MIAMI (AP) – Investment firm 3G Capital's proposed $3.26 billion buyout of Burger King Holdings Inc. has cleared another hurdle as the 40 days that the burger chain was given to solicit third-party offers has expired.

Walgreen Approves $1B Stock Repurchase Plan

DEERFIELD, Ill. (AP) – Drugstore chain Walgreen Co. said Wednesday it approved the repurchase of up to $1 billion in stock through the end of 2012.

NATIONAL POLITICS

Obama to Highlight Benefits of College Tax Credit

WASHINGTON (AP) — President Barack Obama wants Congress to make permanent a $2,500 college tuition tax credit that's set to expire at the end of the year.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 83 363 9,932
MORTGAGES 91 378 11,692
FORECLOSURE NOTICES 14 53 1,687
BUILDING PERMITS 213 788 21,098
BANKRUPTCIES 50 213 6,650
BUSINESS LICENSES 40 125 3,564
UTILITY CONNECTIONS 30 139 4,122
MARRIAGE LICENSES 12 91 2,270

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