VOL. 123 | NO. 181 | Tuesday, September 16, 2008
No matter how tough the economy gets, people still need a place to live, and one of the few sectors to weather this latest downturn has been multifamily.
NEW YORK (AP) – Bank of America on Monday began adding another slice to its growing financial services empire, buying Merrill Lynch in a $50 billion deal that would create a bank that offers everything from fixed-income trading to credit card lending.
WASHINGTON (AP) – The Federal Reserve announced late Sunday several steps to cope with the worst U.S. credit crisis in decades, including broadening the types of assets that investment banks can put up to get emergency loans from the Fed.
WASHINGTON (AP) – The federal government will not pay the ousted chief executives of mortgage finance companies Fannie Mae and Freddie Mac up to $24 million in exit packages.
1513 N. Second St., Memphis, TN 38107, Permit Amount: $12.5 Million -
Harbor View Properties Inc., a division of Parsons, Tenn.-based Tennessee Health Management Inc., has filed a building permit with the city-county Department of Construction Code Enforcement to build a 120-bed, 82,000-square-foot nursing and assisted-living facility on North Second Street, near Pear Avenue and just south of North Mud Island Road.
WASHINGTON (AP) - Wreckage from a massive crisis on Wall Street could prompt the Federal Reserve to do an about face and once again cut a key interest rate this week or possibly later this year, economists said Monday.
PARIS (AP) - World stock markets turned sharply lower Monday after a double-fisted blow from Wall Street - news that Lehman Brothers had filed for bankruptcy and Merrill Lynch would be sold to Bank of America.
WASHINGTON (AP) - With Wall Street engulfed in crisis, the Securities and Exchange Commission is planning measures to rein in aggressive forms of short-selling that were blamed in part for the demise of Lehman Brothers and which some fear could be turned against other vulnerable companies.
GRAND JUNCTION, Colo. (AP) - Barack Obama said Monday the upheaval on Wall Street was "the most serious financial crisis since the Great Depression" and blamed it on policies that he said Republican rival John McCain supports.
CHICAGO (AP) - United Airlines on Monday doubled its fee for a second checked bag to $50, citing volatile fuel prices.