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VOL. 122 | NO. 151 | Monday, August 13, 2007

Roadmap to Improvement

MPO seeks public input on transportation plans

Take a moment to consider what Memphis and the surrounding area will look like 23 years from now. Where will the majority of people live and where will they work? How many businesses will have opened or closed, relocated or expanded?

Herman Morris Campaign Receives Prominent Backing

The first major endorsement in Memphis' mayoral race by a former or current area mayor is the product of a relationship that stretches back to the 1980s.

Creating a Greener Earth, One Solar Panel at a Time

Terry Schaf and a friend were doing some work on a shack that had no electricity when the idea for Power Source Plus Electric Co. Inc. was born. Because there was no electricity, they couldn't just plug their electrical tools into an outlet. So they adapted to their environment and a company was born.

Making the Grade

Countrywide Signals Heightened Risk From Stressed Credit Markets

LOS ANGELES (AP) - Countrywide Financial Corp. said Thursday that disruptions in credit and secondary mortgage markets pose a risk to the company and could hurt its financial condition in the short-term.

Local Weather
Memphis, TN
Partly Cloudy
Wind: from the Southwest at 12.7 gusting to 23.0 mph
Humidity: 61%


The Engineers' Club of Memphis will hold a meeting today at noon at the Holiday Inn-University of Memphis, 3700 Central Ave. Cost is $12 and no reservations are required. Don Smith, president of Quality of Life Development, will speak on "Quality of Life."

more events »

Garcia Wells' Owners File Complaint Against Landlords

Garcia Wells Inc., the ownership group behind Garcia Wells Southwestern Grill, has filed a complaint for damages of $750,000 against its landlord, Overton Square Investors LLC, for allegedly breaching a 2005 lease agreement.

SEC Probes Books of Wall Street Firms to Determine Their Exposure to Mortgage Turmoil

The people, who declined to be identified by name because the inquiry has not been publicly disclosed, described the examination as a routine part of the SEC's oversight authority and said it involved Goldman Sachs Group Inc., Merrill Lynch & Co. and several rival investment banks.

Fed Pumps Another $38B Into US Financial System Friday to Stem Credit Crunch

The Fed, in a short statement, said it will provide "reserves as necessary" to help the markets safely make their way. The central bank did not provide details but said it would do all it can to "facilitate the orderly functioning of financial markets."

New York Fed Accepts $35B in Mortgage-Backed Securities to Inject Cash in System

According to the New York Fed's historical data, which goes back to July 2000, the bank in that time has never accepted that much in mortgage-backed securities in a three-day repurchase agreement.

Illegal Immigration May Help State, Hurt Some Cities, Study Finds

NASHVILLE (AP) - Tennessee can do little to curb illegal immigration and its costs beyond urging the federal government to enforce its laws and fund the programs it requires state and local government to provide, according to a new report from the state comptroller's office.

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PROPERTY SALES 95 253 13,695
MORTGAGES 96 261 15,827
BUILDING PERMITS 250 500 28,258
BANKRUPTCIES 57 178 8,828

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