VOL. 123 | NO. 106 | Friday, May 30, 2008
It took a pair of West Coast companies to give Memphis’ commercial real estate a shot in the arm in April – Tacoma, Wash.-based Gintz Group sold a 172-unit Midtown apartment complex at 1550 North Parkway to Newport Beach, Calif.-based Nationwide Health Properties Inc. for $19.5 million.
Memphis City Council members didn’t know the full extent of what they’d encounter in the city administration’s budget proposal for the coming fiscal year. Budget committee hearings held over the last few weeks have given them the details they need.
Memphis Mayor Willie Herenton isn’t trying to talk the Memphis City Council out of cutting city funding to the city school system anymore.
A dozen Memphians are taking a different journey to what they hope will be NBA stardom. It’s a journey that includes weekend games in high school and college gymnasiums before small crowds. Practice sessions are worked in between 9-to-5 jobs and second jobs. There is very little glory and no guarantee.
A compromise by members of the Shelby County Board of Commissioners on the issue of term limits lasted long enough – about two weeks – that the consensus collapsed this week.
WASHINGTON (AP) – The economy plodded ahead at a 0.9 percent pace in the first quarter – slightly better than first estimated – but still underscoring caution on the part of consumers and businesses walloped by housing, credit and financial problems.
NEW YORK (AP) – Bear Stearns Cos. shareholders on Thursday approved JPMorgan Chase & Co.’s $2.2 billion buyout of the investment bank whose wagers on subprime mortgages made it the largest corporate casualty of the global credit crisis.
WASHINGTON (AP) - The Federal Reserve announced Thursday that it will make a fresh batch of short-term cash loans available to squeezed banks as part of an ongoing effort to ease stressed credit markets.
WASHINGTON (AP) - Federally insured banks and thrifts set aside a record $37.1 billion to cover losses from soured mortgages and other loans in the first quarter, when profits were nearly halved, regulators said Thursday.