Daily News – September 30, 2009

Here are the news stories you might find interesting today:

Phoenix hits bottom 10 in long-term income growth

Phoenix ranked on the bottom rung in a new bizjournals study of per capita income growth in the nation’s metropolitan areas from 1983 through 2008.

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SolarCity, U.S. Bank pump more money into solar lease programs

SolarCity Inc. and U.S. Bancorp will double the size of a loan fund to $100 million to encourage more people to install solar power systems at their homes and businesses.

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Conference Board’s Consumer Confidence Index falls

The Conference Board’s national Consumer Confidence Index fell in September to 53.1, down from 54.5 in August and 61.4 in September 2008.

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Case-Shiller: Phoenix home prices rise 1.8% in July

Home prices in Phoenix rose 1.8 percent between June and July, according to the S&P/Case-Shiller Home Price Index.

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Starbucks instant brew makes debut

Starbucks Coffee Co. on Tuesday began selling its instant coffee product at all of its U.S. locations.

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100 years of electricity milestone for Valley

Thursday will mark the first of a series of important 100-year anniversaries for the Valley and the state of Arizona.

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$9M Awarded For Terminal Expansion

MESA, AZ-Phoenix-Mesa Gateway Airport will expand its passenger terminal by 25,000 square feet. Experts, meanwhile, note future area developments could lead to a permanent terminal.

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Banks Tapped to Bolster FDIC Resources

The Board of Directors of the Federal Deposit Insurance Corporation today adopted a Notice of Proposed Rulemaking (NPR) that would require insured institutions to prepay their estimated quarterly risk-based assessments for the fourth quarter of 2009 and for all of 2010, 2011 and 2012. The FDIC estimates that the total prepaid assessments collected would be approximately $45 billion. The FDIC Board also voted to adopt a uniform three-basis point increase in assessment rates effective on January 1, 2011, and extend the restoration period from seven to eight years.

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Feel free to contact me regarding any of these stories, the current market, distressed commercial real estate opportunities or your property.