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VOL. 123 | NO. 156 | Monday, August 11, 2008

Bass Pro Moves Closer to Memphis Reality

Bass Pro Shops officials say they are ready to sign on the dotted line to start the planning process for the return of The Pyramid to public use.

July Mortgage Activity Drops 37 Percent

The federal housing bill recently signed into law might bring relief to the beleaguered mortgage industry, but it likely won’t bring results for a few months. In the meantime, the real estate market sputters along and lenders struggle to keep pace with last year’s numbers.

State Buyout Offer Shows Mixed Results

The administration of Gov. Phil Bredesen today will begin notifying a little more than 2,000 state employees who have applied to participate in a buyout plan whether their applications have been accepted or not.

Cohen, Blackburn Lead Local Election Winners

More than half and possibly as much as 75 percent of Shelby County’s nearly 626,000 voters are expected to turn out for the Nov. 4 election that will be highlighted by the John McCain-Barack Obama battle for the White House.

Weekly Snapshot: Thank You Very Much

Local Weather
Currently
Memphis, TN
79.0°F
Overcast
Wind: Calm mph
Humidity: 77%

EVENTS

The Engineers’ Club of Memphis Inc. will hold its weekly luncheon today at noon at the Holiday Inn-University of Memphis, 3700 Central Ave. Bob Sweeney will speak on the topic “Greece, Origin of the Olympics.” Cost is $12.

more events »

Fannie Mae Loses $2.3B in Q2

WASHINGTON (AP) – Mortgage finance company Fannie Mae swung to a second-quarter loss that was more than triple what Wall Street expected as conditions in the housing market continued to deteriorate.

RedRover Creates Breakthrough Strategies for Clients

When the economy is in a downturn and businesses have to cut expenses, one of the first things cut can be advertising budgets. Those cuts also can leave advertising agencies having to cut staff as their bottom line suffers.

SEC Now Conducting Formal Probe into Countrywide

LOS ANGELES (AP) - The Securities and Exchange Commission has escalated its scrutiny of Countrywide Financial Corp. into a formal investigation, according to a regulatory filing by Bank of America Corp.

Productivity Growth Slowed in Spring

WASHINGTON (AP) - The efficiency of America's workers grew at a slightly slower pace in the spring as companies sought to produce more with leaner work forces. Workers' compensation growth slowed, too.

Food Giants Race to Pass Rising Costs to Shoppers

Companies throughout the food chain are changing the way they do business in response to soaring grain costs, and consumers are likely to bear the brunt in the form of rising food prices.

Citigroup Returning Billions to Investors

WASHINGTON (AP) - Citigroup Inc. will buy back more than $7 billion in auction-rate securities and pay $100 million in fines as part of settlements with federal and state regulators, who said the bank marketed the investments as safe despite liquidity risks.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 95 460 14,043
MORTGAGES 101 520 16,304
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 198 1,098 29,161
BANKRUPTCIES 48 285 9,323
BUSINESS LICENSES 26 123 4,603
UTILITY CONNECTIONS 45 277 10,236
MARRIAGE LICENSES 18 96 3,352

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