Here are the news stories you might find interesting today:
Money woes may force day-labor center to close
Eco-Chic Consignments expanding in Chandler
Development to feature 6 vintage homes
CIT says bankruptcy filing still a possibility
Ben Bernanke: Rates to stay low, Fed has ‘exit strategy’
| Federal Reserve Chairman Ben Bernanke told lawmakers on Capitol Hill Tuesday that Fed policymakers expect to keep interest rates low for a while longer because financial conditions remain stressed despite signs of stabilization within the economy. |
Majerle’s Sports Grill heads to Goodyear
| Phoenix Suns’ assistant coach and entrepreneur Dan Majerle is opening a third location of his restaurant and sports bar concept, Majerle’s Sports Grill, in Goodyear. |
Submarkets Show Signs of Life
| PHOENIX-Though Q2 apartment stats continue dismal overall, experts note that certain part of the metro area show small, but positive, gains. |
Holsum Signs Just Under 100,000 SF
| TOLLESON, AZ-The baked-goods manufacturer takes close to half of a 200,000-square-foot facility for distribution purposes. |
Chandler a finalist for 3 solar businesses
| The outlook is sunny for Chandler to become the solar industry capital of the Valley, possibly even of the Southwest. Three companies searching for a new U.S. base have Chandler on their “ultra short list,” said Christine Mackay, the city’s economic development director. |
Mesa crystal firm to build Valley facility
| CRC Crystal Research Corp., a Mesa-based crystal manufacturing company, said it has received a commitment of $10 million in financing to develop a manufacturing facility in the Valley. |
Economic Update: Panning for Gold in CRE Debt
Federal Reserve chairman Ben Bernanke, high oracle of the U.S. economy, began two days of testimony before Congress on Tuesday, and said that things will slowly get better, eventually. He also noted that he and his banking brethren are watching developments in the commercial real estate industry–that ticking time bomb–with all the attention that a ticking time bomb deserves. Meanwhile, down in the trenches, there’s a gold rush of sorts going on to find profits in real estate debt.
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