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VOL. 122 | NO. 165 | Friday, August 31, 2007

Commercial Real Estate Hangs Tight

The nation's residential housing market may be sinking, but commercial real estate in Memphis has remained afloat.

Toothsome Ethics Ordinances to Sharpen by Year-End

Shelby County government hasn't printed the forms that are a basic part of its new ethics ordinance. Memphis City Council members are still debating what could be the final piece of the city's ethics array.

Chef Gutierrez Driven By Growing Business Ventures

The work day at Chef Jose Gutierrez's year-and-a-half-old Downtown business, Encore Restaurant & Bar, begins at about 3 in the afternoon. Some of the kitchen staff already are in place doing prep work for the French-style bistro in Peabody Place.

Let's Waltz for a Moment

"A moment comes, which comes but rarely in history, when we step out from the old to the new, when an age ends, and when the sound of a nation, long suppressed, finds utterance." - Jawaharial Nehru, Indian statesman

Credit Crunch Spurs Uncertainty On Bankruptcy Exit Loans

WASHINGTON (Dow Jones/AP) - Companies trying to emerge from Chapter 11 protection by the end of this year may have trouble securing financing, as credit market woes extend into the niche arena of bankruptcy lending.

Local Weather
Currently
Memphis, TN
45.0°F
Fair
Wind: from the South at 17.3 gusting to 33.4 mph
Humidity: 40%

EVENTS

The Southern Business Education Association Worldwide presents "My CEO! Salsa Night" today at 8 p.m. at the Hilton Memphis, 939 Ridge Lake Blvd. Networking, business events and upcoming seminar information will be available, as will a free one-hour salsa instruction and salsa dancing. For more information, call Stephanie Anderson at 690-2831.

more events »

Bernanke Discusses Ways to Help Troubled Homeowners

WASHINGTON (AP) - Federal Reserve Chairman Ben Bernanke is suggesting that policymakers look for ways to encourage a wider range of mortgages geared for low-income and other borrowers who have been hard hit by the housing slump and credit crunch.

Health Benefits Continue for 4 Waltz-Convicted Legislators

A state report shows that Tennessee taxpayers over the next year will spend from about $15,350 to $38,350 a year on insurance for all four, depending on whether they signed up for single or family coverage.

Subprime Hazards Lurk in Special Pipelines

The subprime-mortgage downturn keeps showing up in unexpected places in unusual ways.

Hearings This Fall Likely to Consider Rule Changes for Moody's, Standard & Poor's, Fitch

WASHINGTON (AP) - Lawmakers this fall will consider stricter rules for credit-rating agencies amid criticism that they failed to accurately assess - or warn investors about - the risks that mortgage investments posed to financial markets.

Ginnie Mae Acts to Enable More Low-Cost Mortgage Financing for Veterans

WASHINGTON (AP) - The government is taking action to enable more low-cost financing to be available for military veterans buying homes in pricier areas of the country.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 46 229 20,995
MORTGAGES 74 248 24,609
FORECLOSURE NOTICES 0 27 8,637
BUILDING PERMITS 282 641 42,978
BANKRUPTCIES 61 177 14,079
BUSINESS LICENSES 12 58 6,459
UTILITY CONNECTIONS 0 85 13,596
MARRIAGE LICENSES 20 67 5,136

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