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Foreclosures Soared 79 Percent in 2007

Some properties may have received more than one notice if the owners had multiple mortgages.A late-year surge in the number of properties reporting foreclosure filings suggests that many are in the initial stages of the foreclosure process and could end up lost to foreclosure this year unless lenders or the government steps in, RealtyTrac said."It does appear that we're seeing a new batch of properties enter the process," said Rick Sharga, RealtyTrac's vice president of marketing.RealtyTrac is forecasting that the pace of foreclosure filings will remain steady, rather than accelerate during the first half of 2008."Assuming nothing else bad happens economically ... we will have exhausted the bulk of the worst-performing loans by the end of June," Sharga said, referring to adjustable-rate mortgage loans made to borrowers with poor credit.


There's gonna be a plebiscite in May.

I didn't know about the referendum. As a Crestview resident, I'll be sure to vote. Hopefully, some of the market that benefits from the Wal Mart and their extended hours, will be able to make it to the polls. Unfortunately, since SES is strongly and positively correlated with political involvement, this may be wishful thinking.

Was such disdain directed at the Conn's or the Lowes--I don't know, I didn't live here at the time, but my guess it was not, nor would it be if the proposed redevelopment was a more cheerful, upper-middle class Target. From my understanding, their development plans were revised due to "monolithic" community opposition--read, affluent, probably single-income professional folks with way too much time on their hands--and they do not intend to be open 24 hours.


Questions surround S. Phila. complex plan

The developers are calling it Philly Live! Between the exclamation point and the artists' glitzy renderings, it is hard not to get excited.

But if people were looking for details about the proposed retail and entertainment complex adjacent to the Wachovia Center, they were not released at a news conference yesterday.

"The only definite decision that is being proposed is that we are going to make Philly Live! a truly spectacular experience - a great place for shopping, dining, entertainment and gathering with friends," said Ed Snider, chairman of Comcast Spectacor and one of the two private developers behind the project.

David Cordish, a Baltimore developer whose company specializes in such complexes, called the South Philadelphia site "probably the best I have ever seen for one of our projects."

With Philly Live! surrounded by the Wachovia Center, Lincoln Financial Field, Citizens Bank Park, and possibly the Spectrum, Snider and Cordish conjured images of upscale stores filled with shoppers - some going to or from ball games, some not.


Chinese fight to get home amid blizzard

The country's top leadership is on the ball while local officials are incompetent or corrupt or both.

China's leaders have deployed more than 450,000 army troops and extra units of police to clear roads and help provide emergency supplies to the millions of stranded travelers, state-run media reported, saying authorities had declared an "all out war" on the crisis.

The storms have caused dozens of deaths and airport closures. China's antiquated power grid, powered largely by coal, ground to a near halt, plunging many cities into darkness. The storms have caused economic losses of $3 billion since they began Jan. 10, the Civil Affairs Ministry said Tuesday.

Jing Ulrich, chairwoman for China equities for JPMorgan Securities, said the snowstorm came at the worst time.


Getting rid of liquor stash `a nightmare'

During his 30 years in banking, Hunter Padgett has never had a bigger challenge: how to shut down the largest liquor store in the Keys.

The repossessed inventory of the failed Kraus' Supermarket Liquors & Deli includes nearly 70,000 bottles of spirits and wines -- and a life-size plastic Captain Morgan pirate.

''This has been a nightmare,'' said Padgett, CEO and president of Marathon-based Marine Bank, which financed the venture that failed last July after only about a year of operation.

But Padgett -- with the help of attorneys, inventory specialists, bank employees, his two daughters and their friends -- has prepared nearly $1 million worth of alcohol for a three-day Internet auction that runs Tuesday through Thursday at www.bid4assets.com/liquorauction.


Man died calling triple-0 from burning home

He said it appeared the fire had started in the front bedroom. A police spokesman said investigators believed the fire was started by a discarded cigarette butt. They have ruled out any suspicious circumstances. Metropolitan Fire Brigade northern region operations commander Ian Yates said the man lived on his own, there were no smoke detectors in the house, it was full of old boxes and the front door was deadlocked. He urged people not to deadlock their doors while at home. "We would like people to take notice of this and ensure that if they're going to have deadlocks, leave the key in the deadlock. You must be able to get out of the house as well as prevent people getting in, and have a properly operating smoke detector," he said. "Our fire crews found the back door open ... but fire is a very funny thing and if the fire and the smoke was strong in the back of the house he would not have been able to get out via the back door." The man's dog, a seven-year-old brown kelpie named Bill, escaped through the back door and is now being cared for at the Lost Dog's Home.


Maribyrnong man fighting for life after Footscray assault

AN Asian man left fighting for life in hospital after being attacked in Melbourne's west has been identified as a 41-year-old from Maribyrnong in the city's west.

He was set upon by up to seven youths in Empire Street, Footscray, about 11pm on Tuesday, suffering serious head injuries, and remains in a life-threatening condition in the Royal Melbourne Hospital. Investigators believe the youths also accosted two women outside a nearby McDonald's fast food outlet less than an hour earlier and are appealing for the women to come forward. They were in a dark blue late model Mitsubishi Lancer with a rear spoiler and P-plate. Police are also appealing for a man who called 000 from a nearby phone booth to report a disturbance just before 11pm to come forward.The group of up to seven youths were reportedly wearing US-style street wear.


Pier 1, QVC among bidders in Bombay Co. bankruptcy auction

Liquidators weren't the only bidders for Bombay Co. last week.

According to bankruptcy court documents, Fort Worth-based Pier 1 Imports Inc. and television shopping network QVC Inc. participated in the auction last week for bankrupt retailer Bombay Co.

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