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VOL. 122 | NO. 171 | Tuesday, September 11, 2007

CASA Finds New Home; COMEC's Search Continues

In early July, Juvenile Court officials informed CASA (Court Appointed Special Advocates) of Memphis and Shelby County and COMEC (the Commission on Missing and Exploited Children) that they would have to find new office space by Oct. 1.

California Investor Sees Memphis As 'Long-Haul' Market

Thanks to his company's recent purchase of The Birches Townhouses in Whitehaven for $3.6 million, Bill Sparano can be counted among the out-of-town investors who are bullish on Memphis real estate.

Site Work on Prototype Hyatt Place to Begin Soon

10.8 acres slated to become, Hyatt Place, Outparcels, Sale Amount: $2.2 million -
10.8 acres in Germantown slated to become a four-story Hyatt Place hotel with four outparcels. The buyer is Silver Cos., a master land developer based in Boca Raton, Fla., and metro Washington. The parcel is at the southeast corner of Winchester and Forest Hill-Irene roads in Germantown.

Memphis Market Not Immune to Economic Swings

Development partners Dick Willingham and Randy Sprouse would probably tell you it's disingenuous to suggest the Memphis real estate market is entirely protected from nationwide industry swings.

Longtime Customer Questions SunTrust Termination Letter

The winds of change seem to be blowing at Atlanta-based SunTrust Banks Inc., but just which way remains to be seen.

Local Weather
Currently
Memphis, TN
42.0°F
Mostly Cloudy
Wind: Variable at 4.6 mph
Humidity: 55%

EVENTS

The National Association of Women Business Owners will meet today from 11:30 a.m. to 1:30 p.m. at The Crescent Club, 6075 Poplar Ave., ninth floor. The event is $25 for members and $30 for nonmembers. RSVP by calling 844-3738 or visit www.nawbomemphis.org.

more events »

Bond Fund Investors Could Be Next In Subprime Saga

WASHINGTON (AP) - Could the housing market's woes spread to bonds held in mutual funds by millions of ordinary investors?

Workers Gripe About High Fees, Limited Choice at Some 401(k)s

Peter Ching, 28, landed a job as a programmer at a New York software company this summer. But he had second thoughts when he saw the menu of mutual funds in the company's 401(k) retirement-savings plan.

Growth in Consumer Credit Slows Slightly Reflecting Weaker Gains in Auto Loans

WASHINGTON (AP) - Consumers kept charging at a rapid pace on their credit cards in July although their overall borrowing slowed a bit.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 393 21,159
MORTGAGES 94 424 24,785
FORECLOSURE NOTICES 0 93 8,703
BUILDING PERMITS 173 1,010 43,347
BANKRUPTCIES 52 292 14,194
BUSINESS LICENSES 15 90 6,491
UTILITY CONNECTIONS 28 167 13,678
MARRIAGE LICENSES 12 89 5,158

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