Property owner says former Trace site not insured
Dec 18, 2008 5:17 PM
Trade, business service sectors add jobs, but overall labor force shrinking
Dec 18, 2008 2:40 PM
While the average rate on a fixed 30-year mortgage fell to 5.18 percent last week from 6.47 percent in October, according to Mortgage Bankers Association data, the historical relationship between home loans and mortgage bonds shows rates should be at least half a percentage point lower. Though the U.S. is paying nothing to borrow in some cases, homebuyers are paying about $730 more a year than they would otherwise on a $200,000 mortgage. The demise of lenders including Countrywide Financial Corp. of Calabasas, California, and Seattle-based Washington Mutual Inc. reduced competition as refinancings soar. At the same time, surviving mortgage banks face a credit crunch that limits their lending ability, industry officials say. “Lenders have raised their prices over the last few weeks because of capacity concerns amid all this additional business,” said Brian Simon, chief operating officer at Freedom Mortgage Corp. The Mount Laurel, New Jersey-based firm is among the five biggest independent mortgage companies.
Dec 18, 2008 1:07 PM
FedEx Corp. said Thursday its fiscal second-quarter profit edged up nearly 3%, but challenging times are ahead in "the worst economic conditions" in the company's 35-year history spurred pay cuts and a hiring freeze. For the recent quarter, the Memphis, Tenn., shipping giant said earnings rose to $493 million, or $1.58 a share, from $479 million, or $1.54 a share, in the year-ago period. Revenue rose 1% to $9.54 billion.
Dec 18, 2008 1:03 PM
Updated with comment from buyer and loan info
Dec 17, 2008 11:30 AM
The National Association of Realtors says much needs to be done to free up lending in the commercial property market. Looking ahead, the group sees a whopping 234 million square feet of office, industrial and retail space going vacant next year.
Dec 17, 2008 11:25 AM
Milt Capps follows up with ECD Commissioner Matt Kisber on how his team and Governor Bredesen plan to follow up the massive solar energy investment.
"I've got two more years here [as governor] and I'd love to have two more Hemlocks here, and I want to know how I get that done," the governor told his task force.
Dec 16, 2008 1:50 PM
- FAHLEKAMP, BROOKE FEYE; KEPLEY, JOHN; KEPLEY, BROOKE FAYE; KEPLEY, BROOKE F
- GLENN, JEREMY; GRAYSON, THERESE S; GRAYSON, ALAN L
- CRABTREE DAVID P GREEN HILLS FAMILY INVESTMENTS LLC; DAVID P CRABTREE GREEN HILLS FAMILY INVESTMENTS LLC; HTC VI PARTNERS
- HAMMOND, GRANT; RADER, ERIC STACEY; RADER, KRISTIN