Morris Brown College avoids building auction

Morris Brown College is avoiding the auction of one of its building to help pay its debt. The historically black college struggled to keep its doors open recently in the face of a 385-thousand dollar overdue water bill. Courts intervened on the school’s behalf in that matter.

Morris Brown officials say lienholders have given the college a 60-day reprieve to keep the Jordan hall classroom building off the auction block for now.

Morris Brown is recovering from a 2002 embezzlement scandal that brought the institution to the brink of extinction.

Old schools head to auction

Several old schools in east Georgia are going up for auction. Richmond County is finalizing details of the sale of 7 properties. Prospective buyers will be able to place bids on the school system's Web site.

(Associated Press)

Mall heads to auction block

A foreclosed middle Georgia mall goes up for auction next month. Macon Mall can't pay a $141 million loan. The mall's manager says it is unclear what effect the foreclosure will have on Belk, Sears and Macy's, which own their buildings. Dillard's plans to close its store at the mall by December.

(Associated Press)

Home auctions reach record high

Home foreclosures have hit a record in metro Atlanta. Alpharetta-based Equity Depot, which tracks foreclosures, says 7,335 properties in 13 counties are scheduled for auction next month. The previous record was set in January, when 6,992 properties went up for auction. The foreclosures are a symptom of the subprime mortgage crisis that began being felt last year after many loans reset at higher rates, prompting an increase in defaults.

Pike's Nursery up for auction

A 50-year-old nursery chain that had to file for bankruptcy because of lost sales from the drought--goes up for auction today. Pike’s nurseries are well-known in the metro Atlanta area and have been around for 50 years. In November the company filed for Chapter 11 protection. The company had more than 750 employees at the time of filing. The retailer had 22 locations in Georgia, Alabama and North Carolina. It called itself the nation’s largest independently owned garden center.

Abused horses sold at auction

54 abused horses have new homes. They were sold at auction Saturday by the Department of Agriculture. The horses are among hundreds of animals rescued earlier this year during a raid on a farm in Pike County. Many of the animals were starving and diseased. The Department of Agriculture says volunteers and donations were responsible for rehabilitating the animals.