Daily News – September 21, 2009

Here are the news stories you might find interesting today:

Telx data center site expands footprint in Phoenix

Telx, one of the largest U.S. interconnection and colocation data center operators, is expanding its presence in Phoenix.

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Home lots snapped up in the East Valley

A Queen Creek community abandoned by a homebuilder when the new home market went bust is getting a second chance at completion as the market shows signs of improvement.

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Q.C. shopping center depends on market

Queen Creek Town Center is expecting a new shopping center. Design plans for Heritage Square, which will sit at the corner of Ellsworth and Heritage Loop roads surrounding an existing M&I Bank, were approved by the Town Council this week.

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Restaurants on the rebound in East Valley?

If the recession is hurting the Valley’s restaurant industry, it’s not readily apparent at Joe’s Farm Grill in Gilbert. More than a dozen customers are standing in line to place their orders at the window of the retro-looking burger stand on Wednesday night. Outside on the grassy grounds, picnic tables are filled with families devouring hamburgers, hot dogs and milkshakes.

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FDIC seizes Irwin Union Bank

Irwin Union Bank F.S.B., which operates a branch in Mesa and Phoenix, was shut down by the Office of Thrift Supervision. The Federal Deposit Insurance Corp. was named receiver.

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Home builders continue to gain confidence

Builder confidence in single-family homes edged higher for the third consecutive month in September, according to the National Association of Home Builders/Wells Fargo Housing Market Index. (WFC)

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MBA: Mortgage bankers’ profits skyrocket 635%

Mortgage bankers realized a 635 percent increase in the amount of profit made on each loan they originated in the first quarter of this year, versus the fourth quarter of last year, according to the Mortgage Bankers Association.

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Arizona unemployment down in August

Unemployment has more than doubled in Arizona since the recession started in late 2007, but it was the only Southwestern state to see its jobless rate decline in August.

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East Valley Tribune’ could be put up for sale

The East Valley Tribune could be up for sale.

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