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VOL. 121 | NO. 97 | Monday, May 8, 2006

Daily Digest

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Keith and David Grant Homes Plans Wellsgate Construction

Keith and David Grant Homes LLC has filed a $2 million mortgage through First Tennessee Bank NA for 10 lots in Wellsgate Subdivision. The developers bought the lots May 2 from Beazer Homes Corp. for $531,500. South of Old Brownsville Road and west of Ellendale Road, Wellsgate was approved in May 2005 for 55 lots on 28.96 acres.

Cotton Museum Hosts Book Signing

Later this month, the newly opened Cotton Museum, housed on the old Cotton Exchange trading floor at 65 Union Ave., will host its first book-signing event.
Author Janis Kearney, a former aide to President Bill Clinton, will present a lunchtime lecture at noon May 26, followed by a book signing until 2 p.m. The book, "Cotton Field of Dreams," chronicles three decades in Kearney's life and ends just before her stint at the Clinton White House. She served as Clinton's personal diarist.
The event will be a brown bag lunch format, and the lecture is free with museum admission. Kearney's book will be available for purchase in the museum gift shop. After the lecture, the official ribbon cutting of the new Cotton Museum will take place at 1 p.m. Hours of the museum are Tuesday through Saturday, 10 a.m. to 5 p.m. For more information, call 531-7827.

Local Housing Market Could Grow Almost 8 Percent

The Memphis housing market might be catching up to some of the hotter housing markets in the country, according to an article at www.cnnmoney.com.
The article quotes housing price forecasts by Fiserv Lending Solutions, which says Memphis' real estate market could grow 7.8 percent in 2006.
Consequently, "hot" housing markets like Las Vegas are experiencing a cool-down.
Fiserv predicts Las Vegas real estate will drop 8.2 percent in 2006, while New York City's market will drop 2.43 percent and Los Angeles will fall 3 percent. San Francisco, which has a median home price of $739,000, is expected to drop 1.9 percent. The article listed the median home price in Memphis at $129,000.

Four Morgan Keegan Analysts Make Best Brokerage List

Morgan Keegan & Co. equity research analysts Brent Rakers, Bob Derrington, Brian Ruttenbur and Art Hatfield have been ranked among the nation's top earnings estimators and stock pickers by Forbes.com/StarMine's 2005 Wall Street's Best Brokerage Analysts.
Rakers was ranked the No. 1 earnings analyst for those who cover trading companies and the distribution industry. Derrington ranked No. 2 among analysts for the restaurant industry, while Ruttenbur earned the No. 3 earnings estimator and No. 2 stock picker slots for electronic/electrical equipment analysts. Hatfield got the No. 2 ranking for stock pickers in the air freight and logistics industries.
Morgan Keegan, which has about 280 offices, is headquartered in Memphis.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 83 188 9,757
MORTGAGES 100 182 11,496
FORECLOSURE NOTICES 11 28 1,662
BUILDING PERMITS 194 328 20,638
BANKRUPTCIES 61 119 6,556
BUSINESS LICENSES 25 52 3,497
UTILITY CONNECTIONS 31 79 4,062
MARRIAGE LICENSES 31 63 2,242

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