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VOL. 123 | NO. 185 | Monday, September 22, 2008

Decision Time for Cordova Wal-Mart

About half a dozen community meetings had been held and roughly 3,000 signatures gathered on a petition as of last week in an effort to stop the world’s largest retailer from building a new Supercenter in Cordova.

Mortgage Bankers Anticipate More Activity

The phone has been ringing nonstop for Sam Goff, mortgage loan originator for Evolve Mortgage and vice president of the Memphis Mortgage Bankers Association (MMBA).

County Looks to Lighten Arena Ownership Load

Members of the Shelby County Board of Commissioners aren’t ready to vote on the Bass Pro Shops Pyramid deal just yet.

Memphis Real Estate Community Loses Pioneer

K. William “Bill” Chandler, founder of real estate information company Chandler Reports and real estate appraisal company Chandler & Chandler, died Sept. 12 in his Memphis home after a lengthy battle with ALS (Lou Gehrig’s disease). He was 72.

SEC Bans Short-Selling of Financial Stocks

WASHINGTON (AP) – The federal government, trying to boost investor confidence in the face of a market crisis, took the dramatic step Friday of temporarily banning a practice of betting against financial stocks.

Local Weather
Currently
Memphis, TN
67.0°F
Fair
Wind: from the West at 16.1 gusting to 21.9 mph
Humidity: 44%

EVENTS

The Engineers’ Club of Memphis will hold its weekly meeting and lunch today at 11:30 a.m. at the Holiday Inn-University of Memphis, 3700 Central Ave. Page Cotton, Midwest regional manger for Stego Industries LLC, will speak on the topic “Below Slab Moisture Protection.” Cost is $14 to attend.

more events »

Simple Strokes Therapy Uses Latest Tools to Bring Out Optimal Abilities

On a recent Wednesday morning at Simple Strokes Therapy in Southaven, 8-year-old Matthew Gary worked with an occupational therapist. Matthew, who has an undiagnosed developmental disorder, is learning to walk and communicate better.

Treasury, Fed Move to Bolster Money Market Funds

WASHINGTON (AP) - The Treasury Department and the Federal Reserve announced separate actions Friday designed to bolster $2 trillion of assets in money market funds, which had come under threat from one of the worst financial crises in decades.

World Markets Soar on Plans for US Bank Rescue

FRANKFURT, Germany (AP) - Global stock markets roared higher Friday after news of a U.S. government plan to rescue banks from toxic mortgage debt raised investors' hopes amid the world's worst financial crisis in decades.

Bush Says Government Role Essential to Ease Crisis

WASHINGTON (AP) - President Bush on Friday asked Congress to approve extensive federal intervention in financial markets that he said is both warranted and essential to halt the worst financial crisis in decades. "We must act now," he said.

Paulson: Fannie, Freddie to Buy More Mortgages

WASHINGTON (AP) - Treasury Secretary Henry Paulson announced Friday that mortgage giants Fannie Mae and Freddie Mac will step up their purchases of mortgage-backed securities to help provide support to the crippled housing market.

McCain Says Fed Should Stop Government Bailouts

GREEN BAY, Wis. (AP) - Republican John McCain said Friday the Federal Reserve needs to stop bailing out failed financial institutions.

Bredesen to Host Fundraiser for Kurita Replacement

NASHVILLE, Tenn. (AP) - Gov. Phil Bredesen plans to headline a fundraiser for the Democratic nominee who replaced incumbent Sen. Rosalind Kurita on the ticket in Senate District 22.

Market Watch

Average days on market for homes listed in the Memphis area, as recorded in the Multiple Listing Service.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 128 128 17,998
MORTGAGES 155 155 20,990
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 149 149 36,765
BANKRUPTCIES 60 60 11,985
BUSINESS LICENSES 19 19 5,696
UTILITY CONNECTIONS 49 49 12,297
MARRIAGE LICENSES 40 40 4,518

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