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VOL. 123 | NO. 151 | Monday, August 4, 2008

Growth Continues for Finance for Life

It’s easy to track the growth of Finance for Life, the premium finance brokerage firm that Ronnie Katz launched in 2004 as a one-man operation in a 120-square-foot office on June Road in East Memphis.

Bredesen Reaffirms Commitment To Tennessee Plan

Tennessee Gov. Phil Bredesen wants the Tennessee Plan for selecting appeals court judges to remain in place.

Watchdog Seeks Financial Muscle, Volunteers

For almost four years, he’s done what many average citizens don’t have the patience to do and what reporters often don’t have the resources to commit to.

Construction Spending Falls 0.4 Percent in June

WASHINGTON (AP) – Construction spending fell for the 11th time in the past 13 months in June as continued steep declines in housing activity offset strength in nonresidential building activity.

Hard Times

Local Weather
Currently
Memphis, TN
40.0°F
Fair
Wind: Calm mph
Humidity: 60%

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. Paul Gavin of Contech Construction Products will speak on “Giogrid” Geotextiles. Cost is $12.

more events »

Jobless Rate Rises To 4-Year High

WASHINGTON (AP) – The nation’s unemployment rate climbed to a four-year high of 5.7 percent in July as employers cut 51,000 jobs, dashing the hopes of an influx of young people looking for summer work.

Virginia Rippee & Associates Celebrates 25 Years Designing for Clients

Local entrepreneur Virginia Rippee has always loved art and design, and she pursued that passion as a profession, building a career and a business around the field of interior design. Her firm, Virginia Rippee & Associates Interior Design, is now celebrating 25 years of serving residential and commercial clients – in and around Memphis.

Banks, Wall Street Firms Step Up Fed Borrowing

WASHINGTON (AP) - Banks and Wall Street firms stepped up their borrowing over the past week from the Federal Reserve's emergency lending program.

Strong Debit Use Lifts Visa, MasterCard Revenues

NEW YORK (AP) - As Americans see their home prices plunge, bills climb, and credit lines shrink, they are swiping their credit cards less and their debit cards more - and Visa and MasterCard are still raking in the fees.

Manufacturing Flat in July as Exports Keep Growing

NEW YORK (AP) - Higher prices, tight credit and a gloomy economy kept U.S. manufacturers from growing in July, but exports helped prop them up.

IndyMac Bancorp Files for Chapter 7 Bankruptcy

NEW YORK (AP) - IndyMac Bancorp Inc., former holding company of the California mortgage lender seized last month by the Federal Deposit Insurance Corp., has filed for Chapter 7 bankruptcy protection.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 344 19,573
MORTGAGES 110 422 22,914
FORECLOSURE NOTICES 2 8,305 8,305
BUILDING PERMITS 207 838 40,029
BANKRUPTCIES 60 356 13,104
BUSINESS LICENSES 21 194 6,137
UTILITY CONNECTIONS 30 147 12,996
MARRIAGE LICENSES 15 65 4,842

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