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VOL. 123 | NO. 148 | Wednesday, July 30, 2008

Downtown Market Study Mostly Favorable

At more than 90 pages long, a new market study prepared by a pair of research firms provides a look at Downtown Memphis by the numbers.

MED Board to Choose Helper Firm Today

The board of the Regional Medical Center at Memphis today will make a decision its leaders say they hope will put the hospital on the road to becoming more financially stable.

Cordova Industrial Site Bound for Auction

It’s not every day that a 10-acre industrial site is put on the auction block – selling absolute to the highest bidder, no less – but a Cordova property zoned for heavy industrial use and about 80 percent occupied goes to bid next week.

S&P: Home Prices Drop By Record 15.8 Percent in May

NEW YORK (AP) – Home prices tumbled by the steepest rate ever in May, according to a closely watched housing index released Tuesday, as the housing slump deepened nationwide.

Americans’ Economic Outlook Remains Gloomy

NEW YORK (AP) – Amid the gloom of higher gas and food prices and a slumping housing market, Americans appear to be looking for a bit of hope.

Local Weather
Currently
Memphis, TN
78.0°F
Partly Cloudy
Wind: South at 9.2 mph
Humidity: 79%

EVENTS

The Shelby County Board of Commissioners will hold committee meetings today beginning at 8:30 a.m. on the lobby level in the commission chambers, 160 N. Main St. For more information, including a complete agenda, visit http://agendapub.shelbycountytn.gov or call 545-4301.

more events »

Wilson Named CBU Dean Of Graduate, Professional Studies

Dr. Patrick Wilson has been named dean of the Graduate and Professional Studies program at Christian Brothers University.

Court Reverses Whole Foods-Wild Oats Ruling

WASHINGTON (AP) - Whole Foods' long-running effort to acquire its rival organic supermarket chain Wild Oats isn't completely out of the legal woods yet.

Merrill to Sell Troubled Assets, Raise Capital

NEW YORK (AP) - Merrill Lynch & Co., in a broad move to clean up its troubled balance sheet, said Monday it will sell a big slice of its toxic asset-backed securities and issue new stock to raise $8.5 billion of fresh capital.

Businesses Owe $58 Billion in Withheld Taxes

WASHINGTON (AP) - More than a million and a half businesses owe the government about $58 billion in taxes they were supposed to withhold from employees' paychecks but never forwarded to the IRS, congressional investigators said in a report made public Monday.

Meeting Focuses on New Mississippi River Bridge

MEMPHIS, Tenn. (AP) - A top state official says a toll road may be the only way to go if motorists want a new bridge over the Mississippi River at Memphis.

Official Downplays Importance of Housing Plan

WASHINGTON (AP) - A top Bush administration official Tuesday downplayed the importance of a homeowner rescue plan passed by Congress over the weekend, arguing that efforts already in place will help more borrowers.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 92 158 13,600
MORTGAGES 89 165 15,731
FORECLOSURE NOTICES 10 21 2,160
BUILDING PERMITS 250 250 28,008
BANKRUPTCIES 54 121 8,771
BUSINESS LICENSES 33 54 4,619
UTILITY CONNECTIONS 28 60 5,453
MARRIAGE LICENSES 20 48 2,942

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