VOL. 123 | NO. 13 | Friday, January 18, 2008
Bankruptcy filings climb more than 22 percent
It was a year that wreaked havoc on homeowners, construction firms, landscaping services and other related enterprises.
Measuring progress in numbers can be tricky. And the numbers are usually mute on the topic of what should come next.
The multi-talented Kathryn Ballard could be considered a gifted individual.
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.
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.
Let the search for signatures begin.
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.
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.
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.
NASHVILLE (AP) - The state Senate has passed a resolution urging parents to take their children with them when they vote.
NASHVILLE (AP) - State officials are celebrating the 30th anniversary of Tennessee's first-in-the-nation child seat laws.
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.
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.
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.
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.
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.
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.
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 (AP) - U.S. Sen. Lamar Alexander lists the mayors of Memphis and Shelby County among prominent Democrats and independents endorsing his re-election.
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.
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.