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VOL. 123 | NO. 13 | Friday, January 18, 2008

Mercury Rising

Bankruptcy filings climb more than 22 percent

It was a year that wreaked havoc on homeowners, construction firms, landscaping services and other related enterprises.

March Continues In Memphis Politics

Measuring progress in numbers can be tricky. And the numbers are usually mute on the topic of what should come next.

Ballard Finds Numerous Outlets To Express Artistic Side

The multi-talented Kathryn Ballard could be considered a gifted individual.

Q4 Bankruptcies Up 21 Percent

The bad news was all around in fourth quarter 2007. Retailers reported lower-than-expected holiday sales. The price of oil shot higher. The economy tightened, squeezed by the effects of the soft housing market.

Noonan & Assocs. Triples Services

With only one person on the payroll, it wasn't too difficult for the Germantown-based consulting firm of Gregory A. Noonan & Associates Inc. to triple in size.

Local Weather
Memphis, TN
Wind: Southwest at 3.5 mph
Humidity: 79%


Rhodes College will present its 21st annual Institute on the Profession of Law today from 8 a.m. to 12:30 p.m. in the Bryan Campus Life Center Ballroom on the Rhodes campus. David Luban, the Frederick J. Haas Professor of Law and Philosophy at Georgetown Law School, will be the keynote speaker.

more events »

Drive is on to Keep Sheriff, Others Elected Positions

Let the search for signatures begin.

New County Schools Get Green Light, Wharton Insists Call Still on for Change

Before Memphis Mayor Willie Herenton and Shelby County Mayor A C Wharton Jr. could get to Nashville this week for a meeting with Gov. Phil Bredesen, Memphis school board president Tomeka Hart scheduled her own meetings with each of the mayors.

First Horizon Swings To Loss in Q4

Regional bank First Horizon National Corp. swung to a loss during the fourth quarter because of rising loan-loss reserves, a reduction in the value of mortgage servicing rights and charges stemming from an earnings enhancement plan.

Bredesen May Weigh in on Fight Over Cable Permitting

NASHVILLE (AP) - Gov. Phil Bredesen says he may get involved in a contentious proposal to change cable permitting rules in Tennessee to encourage broadband access around the state.

Resolution Urges Parents to Take Kids When They Vote

NASHVILLE (AP) - The state Senate has passed a resolution urging parents to take their children with them when they vote.

Tenn. Marks 30th Anniversary of Country's 1st Child Seat Law

NASHVILLE (AP) - State officials are celebrating the 30th anniversary of Tennessee's first-in-the-nation child seat laws.

S&P Cuts Ratings on First Horizon Nat'l

NEW YORK (AP) - Standard & Poor's Ratings Services said Thursday it cut its long-term credit rating on First Horizon National Corp. after the regional bank swung to a loss in the fourth quarter.

Rates on 30-Year Mortgages Decline Further Below 6 Percent Level

WASHINGTON (AP) - Rates on 30-year mortgages dropped for a third straight week to the lowest level since the summer of 2005 as worries intensified about the current economic slowdown.

Administration Considers Mortgage Debt-Approval Process for Fannie Mae, Freddie Mac

WASHINGTON (AP) - The Bush administration is considering easing its approval process of mortgage-related debt issued by Fannie Mae and Freddie Mac as they are increasingly relied upon to stabilize the turbulent home-loan market.

Thompson Not Ready to Support Economic Stimulus Package

WEST COLUMBIA, S.C. (AP) - Republican White House hopeful Fred Thompson made light of Federal Reserve Chairman Ben Bernanke's call for a quick economic stimulus Thursday and said it might be best to leave the economy alone for now.

Fed's Pianalto: On Subprime, Central Bank Failed to Anticipate 'Perfect Storm'

NEW YORK (Dow Jones/AP) - Federal Reserve Bank of Cleveland President Sandra Pianalto on Thursday offered a rare mea culpa from the Fed regarding the U.S. subprime mortgage sector meltdown and its detrimental effects on the overall U.S. economy.

Number of Foreclosures 60 Percent Higher Than Home-Loan Modifications in Third Quarter

WASHINGTON (AP) - The number of new U.S. foreclosures in the third quarter was 60 percent higher than the number of borrowers the industry was able to help, a trade group said Thursday.

Construction of New Homes Falls 24.8 Percent in 2007, the Largest Amount in 27 Years

WASHINGTON (AP) - The prolonged slump in housing pushed construction of new homes in 2007 down by the largest amount in 27 years with the expectation that the downturn has further to go.

Memphis, Shelby Co. Mayors Endorse Alexander in Senate Race

MEMPHIS (AP) - U.S. Sen. Lamar Alexander lists the mayors of Memphis and Shelby County among prominent Democrats and independents endorsing his re-election.

Tenn. unemployment rate increases to 5.3 percent

NASHVILLE (AP) - Tennessee's unemployment rate for December was 5.3 percent, up .4 percent from November, the state Department of Labor and Work Force Development announced Thursday.

Crutchfield Avoids Jail Time, Gets 2 Years Probation

Former state Sen. Ward Crutchfield of Chattanooga avoided jail time Thursday and was instead sentenced to two years probation for taking a bribe in the Tennessee Waltz corruption sting.

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Blog News, Training & Events
PROPERTY SALES 90 140 15,764
MORTGAGES 100 162 18,210
BUILDING PERMITS 194 315 32,829
BANKRUPTCIES 57 116 10,129

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