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Atlanta

One of seven American cities classified as Gamma world cities, Atlanta ranks third in the number of Fortune 500 companies headquartered within city boundaries, behind New York City and Houston.  Several major national and international companies are headquartered in Atlanta or its nearby suburbs, including three Fortune 100 companies: The Coca-Cola Company, Home Depot, and United Parcel Service in adjacent Sandy Springs. The headquarters of AT&T Mobility (formerly Cingular Wireless), the largest mobile phone service provider in the United States,  can be found a short distance inside the Perimeter beside Georgia State Route 400.  Newell Rubbermaid is one of the most recent companies to relocate to the metro area; in October 2006, it announced plans to move its headquarters to Sandy Springs.  Other headquarters for some major companies in Atlanta and around the metro area include Arby's, Chick-Fil-A, Earthlink, Equifax, Georgia-Pacific, Oxford Industries, Southern Company, SunTrust Banks, and Waffle House. Over 75% of the Fortune 1000 companies have a presence in the Atlanta area, and the region hosts offices of about 1,250 multinational corporations.

Delta Air Lines is the city's largest employer and the metro area's third largest. Delta operates the world's largest airline hub at Hartsfield-Jackson Atlanta International Airport and, together with the hub of competing carrier AirTran Airways, has helped make Hartsfield-Jackson the world's busiest airport, both in terms of passenger traffic and aircraft operations. The airport, since its construction in the 1950s, has served as a key engine of Atlanta's economic growth.

Atlanta has a sizable financial sector. SunTrust Banks, the seventh largest bank by asset holdings in the United States, has its home office on Peachtree Street in downtown.  The Federal Reserve System has a district headquarters in Atlanta; the Federal Reserve Bank of Atlanta, which oversees much of the deep South, relocated from downtown to midtown in 2001.  Wachovia announced plans in August 2006 to place its new credit-card division in Atlanta,  and city, state and civic leaders harbor long-term hopes of having the city serve as the home of the secretariat of a future Free Trade Area of the Americas.

The auto manufacturing sector in metropolitan Atlanta has suffered setbacks recently, including the planned closure of the General Motors Doraville Assembly plant in 2008, and the shutdown of Ford Motor Company's Atlanta Assembly plant in Hapeville in 2006. Kia, however, has broken ground on a new assembly plant near West Point, Georgia.

The city is a major cable television programming center. Ted Turner began the Turner Broadcasting System media empire in Atlanta, where he bought a UHF station that eventually became WTBS. Turner established the headquarters of the Cable News Network at CNN Center, adjacent today to Centennial Olympic Park. As his company grew, its other channels – the Cartoon Network, Boomerang, TNT, Turner South, CNN International, CNN en Español, CNN Headline News, and CNN Airport Network – centered their operations in Atlanta as well (Turner South has since been sold). The Weather Channel, owned by Landmark Communications, has its offices in the nearby suburb of Marietta.

Cox Enterprises, a privately held company controlled by siblings Barbara Cox Anthony and Anne Cox Chambers, has substantial media holdings in and beyond Atlanta. Its Cox Communications division is the nation's third-largest cable television service provider;  the company also publishes over a dozen daily newspapers in the United States, including The Atlanta Journal-Constitution. WSB – the flagship station of Cox Radio – was the first AM radio station in the South.

Atlanta is also home to the Centers for Disease Control and Prevention (CDC). Adjacent to Emory University, with a staff of nearly 15,000 (including 6,000 contractors and 840 Commissioned Corps officers) in 170 occupations, including: engineers, entomologists, epidemiologists, biologists, physicians, veterinarians, behavioral scientists, nurses, medical technologists, economists, health communicators, toxicologists, chemists, computer scientists, and statisticians. Headquartered in DeKalb County, CDC has 10 other offices throughout the United States and Puerto Rico. In addition, CDC staff are located in local health agencies, quarantine/border health offices at ports of entry, and 45 countries around the world. Originally established in 1946 as the Communicable Disease Center, its primary function was to combat malaria, the deep southeast being the heart of the U.S. malaria zone at the time.

The Georgia Aquarium, located in Atlanta, Georgia at Pemberton Place, is billed as the "world's largest aquarium" with more than 8.1 million US gallons (31,000 m³) of marine and fresh water housing more than 100,000 animals of 500 different species. The aquarium's notable specimens include four young whale sharks, three beluga whales and a manta ray.
Architecture

Atlanta Architecture

Atlanta's skyline is punctuated with highrise and midrise buildings of modern and postmodern vintage. Its tallest landmark – the Bank of America Plaza – is the 30th-tallest building in the world at 1,023 feet (312 m). It is also the tallest building in the United States outside of Chicago and New York City.

Unlike many other Southern cities such as Charleston, Savannah, and New Orleans, Atlanta chose not to retain its historic Old South architectural characteristics. Instead, Atlanta viewed itself as the leading city of a progressive "New South" and opted for expressive modern structures.  The Architecture of Atlanta has seen works by most major U.S. firms and some of the more prominent architects of the 20th century, including Michael Graves, Richard Meier, Renzo Piano, and soon, Santiago Calatrava and David Chipperfield. Atlanta's most notable hometown architect may be John Portman whose creation of the atrium hotel beginning with the Hyatt Regency Atlanta (1967) made a significant mark on the hospitality sector. A graduate of Georgia Tech's College of Architecture, Portman's work reshaped downtown Atlanta with his designs for the Atlanta Merchandise Mart, Peachtree Center, the Westin Peachtree Plaza Hotel, and SunTrust Plaza. The city's highrises are clustered in three districts in the city — Downtown, Midtown, and Buckhead.  (there are two more major suburban clusters, Perimeter Center to the north and Cumberland/Vinings to the northwest). The central business district, clustered around the Hyatt Regency Atlanta hotel – one of the tallest buildings in Atlanta at the time of its completion in 1967 – also includes the newer 191 Peachtree Tower, Westin Peachtree Plaza, SunTrust Plaza, Georgia-Pacific Tower, and the buildings of Peachtree Center. Midtown Atlanta, farther north, developed rapidly after the completion of One Atlantic Center in 1987.

Atlanta Real Estate

There were 4,308 closings for all single family in August. This is a 33% decline from August 2007 and the 18th consecutive year-to-year monthly decline.

There were 3,737 closings for single family detached or a year-to-year decline of 31.1%. This was the 18th consecutive year-to-year decline and the 25th out of the last 26th for single family detached. After lags are reported the percentage decline will be at least 20% or the 12th consecutive decline of 20% or more.

The year-to-year decline for condos & townhomes was 43.3%, as 572 units closed in August versus 1,009 for the same year ago period. For the first eight months of 2008, condos & townhomes have closed 31.6% less units versus the first eight months of 2007.

The first year-to-year decline for all single family during our downturn occurred in September 2006. Clos ings were also down October-December 2006 versus October-December 2005, so there is a good chance we may start experiencing yearly period declines for three straight years for the rest of 2008.

Decreasing demand results in declining prices and for the 9th consecutive period the average price for all single family declined from the same year ago period. The average price in August for all single family was $233,394 versus $259,316 for August 2007 or a decline of 10%. This was also the 7th consecutive monthly period with a year-to-year average price decline of 9% or more.

The average sale price for single family detached was $241,761 for August or a decline of 10.8% for the same year ago period.

The average sale price for condos & townhomes in August was $178,747 or an 8.7% decline from August 2007. The year-to-date average closing price for condos & townhomes is $180,752, which is lower than the average closing prices for the years 2002-2007. Condos & townhomes have not had an average sale price under $170,000 since October 2001, but if demand remains weak there is a good chance the average price may drop under $170,000 before the end of the year.

There were almost 1,000 less withdrawn listings for all single family in August versus August 2007. The reason for the large reduction is that there were a lot more listings on the market last summer that were “testing” the market, but with prices declining, owners are less inclined to try and sell their home this year. In this market, if a home is for sale there is a good chance the owner has to sell.

There were 7,563 expired listings for all single family in August. This was only 224 more expired listings than August 2007 and the smallest year-to-year percentage increase since April 05-06. This may be a sign that a bottom may be near.

Oil prices have been falling and the government is doing their best to stabilize our financial markets. In order for a housing uptick to occur in 2009 oil has to fall and stay down and the financial markets must have the ability to finance home mortgages.

Atlanta Aquarium

Funded mostly by a $250 million donation from Home Depot founder Bernie Marcus, the aquarium was built on a 20 acre (81,000 m²) site north of Centennial Olympic Park in downtown Atlanta. Marcus credited his 60th birthday dinner at the Monterey Bay Aquarium in 1990 as among the inspirations behind his desire to build an aquarium in Atlanta.