The Memphis Economy: A 50 Percent Off Sale 

A bank bailout. A once-stellar Memphis mutual-fund family takes an alarming plunge. More layoffs and less news at the daily paper. And an analysis of the upcoming 2009 property reappraisal that suggests homeowners could get the worst of both worlds.

No need to wait for those post-holiday markdowns, shoppers. Memphis companies are already selling at 50 percent off.

More of John Branston's commentary here.

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