The owners of the Fifth & Main condo complex say they will accept until the end of the year the auction-level prices paid by 25 people Saturday for the 80-plus units they still need to ship. The weekend auction fetched ACG Equities about $135 per square foot.
“We hope we won’t have any left by January, but if we do, we’ll have to discuss pricing at that point,” he said. “In the last three weeks before the auction, we had about 600 people come through the building, and 100 of them came back multiple times. We see those people as our prime buyers.”
It appears to be a little bit academic at this point, but Tennessee Commerce Bancorp executives on Wednesday told investors that it has received a formal agreement from the Tennessee Department of Financial Institutions that outlines a host of capital level, asset management and governance steps it must take to right its ship. Many of the terms and remedies prescribed are the same ones called for earlier this year by the Federal Deposit Insurance Corp.
Dover Motorsports, which in early August said it is preparing to shut down the Nashville Superspeedway, last week reported third-quarter results that included the cost of that decision. Between taking a non-cash charge on a writedown of the speedway's value and picking up the expected tab for bond payments to Wilson County, the tab comes to almost $18 million.
The FDIC is closing an Illinois office — one of three — set up a few years ago to handle the wave of bank failures. As for the prospect of doing the same in Jacksonville, where regulators are working their way through the troubles of Southeastern banks? Yeah, that's not gonna happen soon.