Posted on April - 03 - 2010
Coffee Break: Pending home sales rise in February
Housing markets are coming back from the winter doldrums.
The number of buyers who agreed to purchase previously occupied homes rose sharply in February, far exceeding expectations, a report said Monday.
That’s a sign that a second round of government incentives is pushing buyers to make offers before a deadline at the end of this month. Buyers may also be motivated by worries that mortgage rates will climb later this year.
The National Association of Realtors said Monday its seasonally adjusted index of sales agreements rose 8.2 percent from January to a February reading of 97.6. January’s reading was revised slightly downward to 90.2.
A reading of 100 is equal to the level of sales activity in 2001, when the index started.
In the Memphis area, pending sales continued to show strength in February, rising 5.9 percent from January to 1,676 units. That’s an increase of 6.3 percent from a year ago.
Morgan Keegan adds energy expertise
In a move to strengthen its expertise in the energy industry, Memphis-based Morgan Keegan & Company announced Monday it hired the co-founders of a Houston-based investment bank that advised energy firms.
Barry R. Donovan and Michael S. Chevalier-White, who were principals of Paragon Advising, have joined Morgan Keegan’s investment banking group as managing directors.
Rob Baird, president of Morgan Keegan Investment Banking, said, “Over the past few years, we have strategically built a comprehensive energy platform with our own investment banking team, our affiliate Albrecht & Associates, and our commercial banking partners at Regions. The Paragon team adds another facet to the scope of services and the type of clients we can assist in this sector.”
Giving birth on Twitter
Methodist Le Bonheur Germantown has invited the public to experience the miracle of birth, one tweet at a time.
The hospital will follow one family’s birth experience at the hospital’s new Women’s and Children’s Pavilion from check-in to birth and will post details on Twitter. The April 7 Twittercast will include tweets and videos that will showcase the pavilion’s features and services.
You can follow the “Twitter Patter of Little Feet” event at twitter.com/methodisthlth.
Claim against Southland is denied
A white woman at Southland Gaming and Racing who claimed a black supervisor discriminated against her by promoting another white woman ahead of her has lost a federal appeal.
Dianna L. Helton says she quit her job as assistant cage manager at the dog track and casino in West Memphis after she became concerned that she could be set up to take the blame for a rules violation. In a split ruling, the 8th U.S. Circuit Court of Appeals on Monday upheld a federal judge’s dismissal of the case.
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