The Parties Agree: October 2007

Monday, October 29, 2007

Foreclosure rates continue decline in Tennessee, other states

According to Realtor Magazine, siting statistics from the National Delinquency Survey conducted by the Mortgage Bankers Association, a recent survey reveals trends contrary to what most might assume: foreclosure rates are not on the rise everywhere. In fact, 8 states, including Tennessee(-3%), are reporting foreclosure declines. A block of states in the Southeast (South Carolina,-4%; North Carolina, -3%; Tennessee, and Arkansas -3%) reported declines. Other states reporting declines or no change include Utah (biggest decliner at -26%), New Mexico (-9%), Kansas (-1%), and Pennsylvania (no change). The statistics compare 2006-Q2 to 2007-Q2.

Sunday, October 28, 2007

Connecting Southeast Tennessee with Southwest North Carolina

An editorial in the Cleveland (TN) Daily Banner advocates for the placement of Corridor K improvements along the current roadway for Highway 64. The editorial includes some statistics and a few economic arguments for the placement. According the editorial, U.S. Hwy 64 has long been considered the route for the proposed Corridor K that has been on the drawing board since 1965. The Appalachian Development Highway emerged in January as the No. 1 transportation priority of the Southeast Tennessee Rural Planning Organization.

Cleveland (TN) Daily Banner

Nama Sushi Bar of Knoxville to open in Chattanooga in February or March

According to Knox News, Nama Sushi Bar is expanding with plans to open a site in Chattanooga in early 2008. According to the story, the decision to expand comes as Owner Gregg White works to open his first location outside of Knoxville. A Nama restaurant in downtown Chattanooga is expected to open some time in February or March.

“We’ve been working on Chattanooga for a long time, had some disappointments and finally we’re able to speak positively about it,” said White, who also is working on opening a Farragut location but those details are still being worked out.

Nama Sushi Bar

Knox News

Exo-Brain Solutions and founder Peter Warren guilty of Fraud

According to CCH Wall Street, the Northern District Court of Georgia has entered a final judgment in the SEC's case against Peter Warren and Exo-Brain, Inc.

The story reports that the SEC had charged Warren and Exo-Brain, a software development company, with securities fraud in its 2004 complaint. The court found that from 2000 through 2001, Warren and Exo-Brain netted $12.4 million through several fraudulent unregistered securities offerings. The court has ordered Warren and Exo-Brain to pay disgorgement of $6,400,000, pre-judgment interest of $1,981,734, and a $75,000 civil penalty. The defendants were ordered to make the payments within 30 days of the judgment.

Warren, a British national, currently resides in Cannes, France, but lived in Chattanooga, Tennessee during the relevant period. At all times, he controlled Exo-Brain, which operated out of Chattanooga.

CCH Wall Street

Saturday, October 27, 2007

Two North Shore Grand Opening Is Nov. 10

According to the Chattanoogan.com, Two North Shore retail center will host a free Grand Opening celebration November 10 from 10 a.m. until 7 p.m. at 301 Manufacturers Road. Attendees can visit the "Greenlife Stage" and listen to Chattanooga bands perform live including Jennifer Daniels, Up with the Joneses and a special performance by the professional belly dancing troop Desert Sirens. For families there will be an interactive area equipped with jugglers, face painters, balloon artists, a hot chocolate bar and local mascots such as Rocky the Raccoon and the Aquarium's Shark and Penguin duo. Rock Creek will host geocaching, a high-tech scavenger hunt using GPS units, as well as other interactive competitions.

Chattanoogan.com