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VOL. 123 | NO. 165 | Friday, August 22, 2008

Commercial Real Estate Tumbles

After a prolonged and prosperous ride, commercial real estate stumbled in the past year with no signs of regaining its balance anytime soon.

Next Bell Rings for Crucial Funding Deal

But the circumstances MCS detailed in a court filing last week to show why the school district believes mediation is necessary have since changed in an important way.

Eleven File For Council Seat

A field of 11 candidates had filed by Thursday’s noon deadline for an open seat on the Memphis City Council on the Nov. 4 ballot. Four of the contenders ran for the council just a year ago. Also at the deadline, three Memphis school board members were effectively re-elected when they failed to draw any opposition.

Airport Authority Tackles Namesake Question

Memphis International Airport won’t be renamed after Isaac Hayes despite a suggestion from Congressman Steve Cohen to honor the late soul singer, airport board members and executives decided Thursday.

Fannie, Freddie Shares Stabilize

WASHINGTON (AP) – Shares of troubled mortgage finance companies Fannie Mae and Freddie Mac stabilized Thursday in late morning trading, reversing three days of double-digit declines.

Local Weather
Currently
Memphis, TN
89.0°F
A Few Clouds
Wind: Northwest at 11.5 mph
Humidity: 55%

EVENTS

The Memphis Tri-State Defender will host Pancakes & Politics today at 7:30 a.m. at the Memphis Marriot East, 2625 Thousand Oaks Blvd. Dr. Kriner Cash, Harold B. Collins, Tomeka R. Hart and Dr. Kenneth T. Whalum Jr. will be there. For more information and to buy tickets, visit www.tristatedefender.com or call General Manger Phyllis Fickling at 523-1818.

more events »

History of St. Mary’s Episcopal Runs Rich and Deep

130 years ago this week, two Episcopalian nuns arrived in Memphis from New York on a journey that would become part of the city’s history. It also became a part of the tradition of the Episcopal Church.

30-Year Mortgages Dip Slightly to 6.47 Percent

WASHINGTON (AP) - Rates on 30-year mortgages fell slightly this week to the lowest level since mid-July.

Web Site to Educate Employers About Hiring Vets

WASHINGTON (AP) - They survived war, but for some veterans of the wars in Iraq and Afghanistan, returning to work back home hasn't been easy.

FDIC Sets Mortgage Plan for IndyMac Borrowers

WASHINGTON (AP) - Thousands of troubled home borrowers with loans from IndyMac Federal Bank will be able to switch to fixed-rate mortgages under a new plan from federal regulators, who seized the bank last month after it became the largest regulated thrift to fail.

Post Office Offering Early Retirements

WASHINGTON (AP) - In lackluster economic times, not even postal workers enjoy much of a security envelope.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 79 396 11,921
MORTGAGES 90 443 13,870
FORECLOSURE NOTICES 10 70 1,928
BUILDING PERMITS 191 975 25,139
BANKRUPTCIES 56 289 7,762
BUSINESS LICENSES 23 184 4,083
UTILITY CONNECTIONS 22 166 4,847
MARRIAGE LICENSES 16 81 2,625

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