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VOL. 123 | NO. 220 | Monday, November 10, 2008

October Mortgages Plummet 33 Percent

Although his term as president of the Memphis Mortgage Bankers Association (MMBA) extends two more months through the end of 2008, Chris Bowers can begin to reflect on what has been a tumultuous year in his profession.

West Memphis Lawyer Dies Of Brain Aneurysm

Kent J. Rubens of the West Memphis law firm Rieves, Rubens & Mayton passed away Wednesday from complications of a brain aneurysm. Although based in Arkansas, Rubens was a well-known litigator in the Memphis legal community.

Election Totals: Better Late Than Never

Two days after the Nov. 4 elections, the final unofficial totals were finally posted by the Shelby County Election Commission. The long vote count involved absentee ballots whose count was delayed because of problems with an optical scanning machine.

Plans to Expand

Furniture Maker La-Z-Boy Laying Off 240 in Tenn.

DAYTON, Tenn. (AP) - Furniture maker La-Z-Boy Inc. says it's laying off 240 workers at its plant in Dayton, Tenn.

Local Weather
Currently
Memphis, TN
57.0°F
Rain
Wind: East at 6.9 mph
Humidity: 87%

EVENTS

The Memphis Bar Association will host a new member luncheon today at noon at the Memphis Bar Association offices, 80 Monroe Ave. All new members are invited to attend. To R.S.V.P., call 527-3573.

more events »

Service, Family Drive EnviroUSA’s Specialty Cleaning Business

The business model for EnviroUSA Corp. is somewhere between the world of basic cleaning tips and the interesting jobs on the TV show “Dirty Jobs” on Discovery Channel.

Airlines' On-Time Performance Improved in Sept.

ATLANTA (AP) - U.S. airlines' on-time performance and baggage handling improved in September, though the carriers overall posted a higher rate of domestic cancellations compared to the same month a year ago, the Transportation Department said Friday.

New Mortgage Caps Reduce Options in Pricey Metros

WASHINGTON (AP) - People looking to buy more expensive homes next year will have fewer options to find financing because Fannie Mae and Freddie Mac will have lower limits on the size of loans they can buy.

Wharton To Run For Memphis Mayor In 2011

Invitations To First Fundraiser In The Mail

Shelby County Mayor A C Wharton Jr. is running for Memphis mayor in the 2011 city elections.

AIG Repays More of $85 Billion Fed Loan

CHARLOTTE, N.C. (AP) - American International Group Inc. reduced the amount it owes the U.S. government by another $2.3 billion as the insurer continues to use the Federal Reserve's new commercial-paper-funding program.

Weekly Snapshot

Jobless Rate Bolts to 14-Year High

WASHINGTON (AP) – The nation’s unemployment rate bolted to a 14-year high of 6.5 percent in October as another 240,000 jobs were cut, far worse than economists expected and stark proof the economy is deteriorating at an alarmingly rapid pace.

Vanishing Jobs, Stressed Consumers Feed Downturn

WASHINGTON (AP) - The nation's unemployment rate is at a 14-year high, General Motors reported a massive third-quarter loss and says it may run out of cash next year, and Ford is planning more job cuts after burning through billions of its own.

E.W. Scripps Cuts 400 Newspaper Jobs

E.W. Scripps Co., the parent company of The Commercial Appeal, said Friday it was laying off around 400 employees nationwide.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 57 252 6,191
MORTGAGES 73 287 7,379
FORECLOSURE NOTICES 0 37 1,152
BUILDING PERMITS 227 556 13,147
BANKRUPTCIES 40 153 4,500
BUSINESS LICENSES 25 86 2,448
UTILITY CONNECTIONS 37 110 2,650
MARRIAGE LICENSES 16 65 1,300

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