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VOL. 123 | NO. 122 | Monday, June 23, 2008

May Commercial Sales Drop 75 Percent

Take away the $16 million multifamily portfolio sold in a complicated deal that kept the properties out of bankruptcy and Shelby County’s commercial real estate activity in May was a picture of paltriness.

Hedge Fund Collapse Leaves Mark On Memphis

A hedge fund manager convicted of swindling $450 million from investors and who had been sentenced earlier this year for his actions was supposed to report to prison in Massachusetts recently. But Samuel Israel III, one of the founders of the Connecticut-based Bayou Group, never showed up.

Ex-Mayor Hackett Helps Quash Charter Amendment

Scratch the proposed amendment to the Memphis charter that would require City Council approval of some contracts signed by the mayor.

Tenn. Unemployment Rate Up to 6.4 Percent

NASHVILLE (AP) – The number of unemployed people in Tennessee jumped by 30,800 in May, a 19 percent increase over the previous month, the state Department of Labor and Workforce Development reported late last week.

Governor Signs Update To Tenn. Open Records Law

NASHVILLE (AP) – Gov. Phil Bredesen on Thursday signed an update of the state’s open records law that will for the first time create deadlines for records custodians to respond to requests.

Local Weather
Currently
Memphis, TN
35.0°F
Fair
Wind: South at 8.1 mph
Humidity: 46%

EVENTS

The Engineers’ Club of Memphis Inc. will hold its weekly lunch meeting today at noon at the Holiday Inn-University of Memphis, 3700 Central Ave. Jon Thompson, former director of “The Wonders Series,” will present “The Search for Amelia Earhart.” The cost is $12 and no reservations are required.

more events »

Reputation, Experience Help Tom Martin’s Inc. Thrive in Downtown

Tom Martin’s Inc. has sat on the corner of South Third Street and G.E. Patterson since 1960, where Tom Martin Sr. opened it.

Ups and Downs

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 90 90 890
MORTGAGES 131 131 1,083
FORECLOSURE NOTICES 7 34 129
BUILDING PERMITS 187 319 1,524
BANKRUPTCIES 38 85 576
BUSINESS LICENSES 0 74 240
UTILITY CONNECTIONS 27 28 365
MARRIAGE LICENSES 0 0 82

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