Thursday, November 20, 2008

Business: $1.5B Streets of Buckhead project delayed

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Streets of Buckhead on hold
Stocks open lower after jobless claims jump
In the opening minutes of trading, the Dow Jones industrial average is down 55 at the 7,939 level. Investors are watching to see whether the Dow can stay above the 7,882.51 trading low seen on Oct. 10.

Cigarette warehouse up in smoke
The three-alarm blaze destroyed the large warehouse off Lawrenceville Highway. Fire officials said the fire apparently started before 6:30 a.m. in a storage trailer parked behind the A to Z Wholesale warehouse on Jordan Lane.

Georgia jobless rate jumps to 7 percent
The October unemployment rate - the highest since 1992 - is up from 4.5 percent in the same month of 2007, and metro Atlanta has lost 44,800 jobs over the past 12 months, or 1.8 percent of the total, the report said.
High-paying jobs on decline in metro Atlanta
Weather Channel lays off staff
U.S. jobless claims jump unexpectedly to 16-year high
 
Wendy's/Arby's moving 120 jobs to Atlanta from Ohio
Wendy's, based in Dublin, Ohio, and Atlanta-based Triarc, the parent company of Arby's, completed a mergeri n September to create Atlanta-based Wendy's/Arby's Group.

Big metro counties seek foreclosure aid
In all, Atlanta and Fulton, DeKalb, Gwinnett, Clayton and Cobb counties stand to get about $81 million in federal aid through the Neighborhood Stabilization Program. There's a total of $153 million headed to Georgia.

Delta ends fees for window, exit row seats
The Atlanta-based carrier is dropping the $5 to $25 fees instituted last month, after its elite SkyMiles Medallion frequent fliers complained en masse. Delta returned to its original preferred seating system to allow Medallion members to book any preferred seats at booking for free.
AirTran expects lighter Thanksgiving traffic

$1.5B Streets of Buckhead project delayed
"A lot of retailers are reconsidering or slowing down their 2009 openings," developer Ben Carter said. "The general consensus is that we'll be in a recovery mode in 2010. Retailers we've signed up are in agreement with that."

Atlanta gets 2013 men's Final Four
Eight months after a twister blasted out skyscraper windows and shook the rafters of the Georgia Dome during an SEC basketball tournament game, the NCAA announced Wednesday that Atlanta is its choice to host the Men's Final Four basketball championship in 2013.

Korean dry cleaners in Atlanta sue gas marketer
Cheesy pun first: A group of Korean dry cleaners claim to have been taken to the cleaners by their gas marketer. Seriously, they've filed a federal lawsuit against Florida-based Infinite Energy, claiming the marketer exploited the short-term price spike that followed 2005's Hurricane Katrina to lock them into long-term contracts at an inflated price.

2 troubled community banks hit with sanctions
FirstBank Financial Services of McDonough and Southern Community Bancshares of Fayetteville are prohibited from paying dividends, issuing debt or purchasing or redeeming shares of its stock without approval of state and federal regulators.

Oil dips under $50 on fears of deep recession
 Light, sweet crude for December delivery was down $3.25 to $50.37 a barrel in electronic trading on the New York Mercantile Exchange by early afternoon in Europe. Oil prices plunged over $3 today as 16-year high U.S. unemployment figures and plummeting stock markets caused investors to price in lower crude demand.

For studio, vampire movie is a Cinderella story
Obscure Summit Entertainment obtained the rights to "Twilight," based on the first of Stephenie Meyer's hugely popular teenage vampire novels, after Paramount Pictures decided in 2006 that the series was a dud. Big mistake.

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