From Atlanta Business Journal (GA):

Duke Realty takes $50M hit on 3630 Peachtree

Duke Realty Corp. has taken a $50 million write-down on the value of its 3630 Peachtree project in Buckhead, another sign of the worsening commercial real estate mess.

Duke is co-developing the 425,000- square-foot office tower with Pope & Land Enterprises Inc. The 34-story building also includes 17 floors of luxury condos developed by Novare Group Holdings LLC and Post Properties Inc. It’s one of four new office towers that will be added to the Buckhead market between 2009 and early 2010. Two of them, including 3630 Peachtree, are empty. The other two have one tenant each.

From Atlanta business journal (GA):

Credit problems rising for Georgia banks

Credit problems for banks in metro Atlanta and statewide increased for the sixth straight quarter, as the state’s banking crisis shows no signs of letting up.

An analysis of third-quarter results for the state’s more than 300 banks, filed with the Federal Deposit Insurance Corp., shows the rate of increase in credit problems slowing slightly, but it does not indicate wholesale improvements for a battered industry.

Atlanta banks are reporting, on average, that 13.9 percent of loans are in some stage of delinquency, default or have been foreclosed, according to an analysis of third-quarter data by Atlanta-based FIG Partners LLC. That number is nearly double the statewide figure of almost 8.5 percent…

From Macon.com (GA):

Kumho Tire plant is delayed by three years

Construction of the $225 million Kumho Tire plant in south Bibb County which had already been delayed once before, has been pushed back for three years.

Work had been expected to begin this fall on the 1.3 milion-square-foot plant in the Sofkee Industrial Park and was expected to employ up to 450 workers….