CopperWynd Resort, the Fountain Hills hotel with striking views of Scottsdale and the
Starting Monday, the upper level of the resort’s main building and all 32 European-inspired guest rooms will close until further notice. The resort’s upscale restaurant, Alchemy, also will cease operations. more…
Deliberations between banks and regulators about the tests’ results pushed back the release date, which initially was expected to be earlier in the week. more…
SANTA FE,
The Santa Fe-based jumbo mortgage lender had been hit hard since mid-2007 by the mortgage and credit market crisis.
The company announced its plans a month ago to file for bankruptcy protection, liquidate assets and to go out of business.
The company laid off 130 employees in April. Before the economic downturn, it had employed up to 180 people.
Thornburg says it will sell a key subsidiary called ADFITECH, which provides quality-control services.
Company officials could not be reached for comment.
Among the unsecured creditors was one
Associated Press – 05.02.09
A Maricopa County Superior Court jury has awarded $3.3 million to a
Home construction for Americans 55 and older is expected to drop by nearly half in 2009 compared with the previous year, a sign that the market for home building geared to senior citizens is contracting despite the wave of Baby Boomers approaching retirement.
The National Association of Home Builders reported this week that about 126,000 homes will be built this year for buyers 55 and older, down from about 249,000 last year. more…
New regulations designed to reduce home-appraisal fraud could result in lower-quality appraisals and make it more difficult for consumers to shop around for the best mortgage rates, loan officers and appraisers say. more…
Barneys New York is on track to open its first Arizona store, despite financial problems that have impacted the venerable store along with other high-end retailers.
The company hasn’t set a specific opening date, but remains committed to a fall debut of its 80,000-square-foot store at
It’s hard to imagine a business facing more scrutiny than banking. But as bankers work through loan defaults and quarterly losses, some see signs of improvement.
Three bankers - Patrick Patrick of Towne Bank of Arizona in
After a two-year courtship, Phoenix and the Persian Gulf
Phoenix Mayor Phil Gordon and Dubai Director General Hussain Nasser Lootah signed a partnership agreement aimed at promoting trade and foreign investment between the two cities. more…
NEW YORK (Reuters) — Citigroup Inc. may need to generate up to $10 billion in new capital to meet the requirements of the U.S. government’s stress tests, the Wall Street Journal reported on its Web site Friday
Like other financial institutions, the bank is in talks with the Federal Reserve about whether it needs more capital. more…
The same government agency known for certifying the quality of hamburger and steak is becoming a prime force in the Arizona housing market.
The U.S. Department of Agriculture has guaranteed mortgage loans for many years, much like the Federal Housing Administration and Department of Veterans Affairs, but this year the value of
The Arizona Supreme Court will consider the CityNorth incentive agreement case on June 1. The court will not actually hear the case that day. Instead, it will decide whether to accept the case for review. more…
One of the Phoenix area’s largest commercial developers is showing signs of financial stress that local experts say is a symptom of widespread economic problems facing the industry this year.
A group of lenders led by Bank of America has filed a complaint in Maricopa County Superior Court claiming that Opus West Corp., based in