October 26-November 1, 2012, Vol. 5, Issue 44 Office & Industrial Real Estate Special Emphasis From institutional capital seeking local industrial properties to changes in the medical office sector, the commercial real estate industry is undergoing plenty of changes PAGE 16

Shelby • Fayette • Tipton • Madison

Grizzlies, Tigers look to reach new heights in 2012-2013

A Seasonfor MORE Page 14

AP Photo: Chuck Burton Grizzlies forward Rudy Gay (22) dunks against the Charlotte Bobcats as Tony Allen (9) watches during the first half of a game in Charlotte in April. The Grizzlies hope to improve on last season’s first-round playoff debacle. Meanwhile, the Memphis Tigers look to be one of Josh Pastner’s most talented squads yet.

10 Arts Now in its sixth year, RiverArtsFest 2012 begins at 6 p.m. Friday, Oct. 26, and runs through 5 p.m. Sunday, Oct. 28, in the South Main Historic Arts District. The event features more than 170 juried artists in this year’s expanded Artist Market.

weekly digest: page 2 real estate: pages 26-27 law talk: page 28 newsmakers: page 31 EDITORIAL: page 38

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Nike Green Lights Two Memphis Marriotts has introduced a guest recycling program, facility on Peabody Avenue is available to with receptacles for paper, glass, plastic qualified individuals who have success- Frayser Expansion Complete Renovations and metal located by side exits. fully completed a residential drug and Less than a week after winning a Two East Memphis Marriott hotels, alcohol treatment program, and provides 15-year payment-in-lieu-of-taxes agree- Courtyard Memphis East/Park Avenue housing and supportive services as they ment, Nike Inc. executives have apparently and Residence Inn Memphis East, have Mueller Industries CFO integrate back into society. ended their deliberations about where to recently completed major renovations. Steps Down From Position The facility got new plumbing, electri- build a larger supply chain distribution Residence Inn Memphis East re- cal wiring, windows, air conditioners and center. vamped its 105 guestrooms with mod- Kent A. McKee, executive vice presi- heaters, cabinets, flooring, exterior land- The Beaverton, Ore.-based world ern furnishings and bold colors, granite dent and chief financial officer of Mem- scaping, interior painting, new furnishings athletic brand announced in a statement countertops and stainless steel appliances, phis-based Mueller Industries Inc., has and new fixtures. First Tennessee Bank Monday, Oct. 22, that the $301 million deluxe signature bedding, 37-inch televi- resigned effective Friday, Oct. 26, to pursue provided construction financing. project will be an expansion of the North- sions and high-speed Internet. other opportunities, according to the There are three apartment units that ridge plant in Frayser. Also enhanced was Residence Inn’s company. provide housing for up to 15 male resi- After winning the $57.8 million tax public area’s multi-functional space, with McKee will remain as a consultant to dents. Each unit is fully furnished and con- break from the board of the Memphis and high-definition television and free wireless the company that makes brass, copper and tains three bedrooms, a full bathroom and Shelby County Economic Development Internet in the lounge area; private studies; plastic tubing and fittings used in com- an efficiency kitchen. Utilities are included Growth Engine, Nike executives stressed and outdoor spaces with comfortable seat- mercial and home construction. in the rent. that the company was still weighing other ing, barbecue grills, a fire pit and relaxing Jeffrey A. Martin, Mueller’s vice presi- An open house and ribbon cutting competitive offers for the project else- music. dent of corporate development, will serve ceremony, with the support of the Greater where. Meanwhile, the Courtyard Memphis as interim CFO as the company searches Memphis Chamber, will be held Nov. 14 Elliott Hill, the general manager of Nike East/Park Avenue hotel has redefined for a permanent replacement. from 10 a.m. to 2 p.m. Lunch and refresh- North America, discussed the deal in a its lobby with bright and contemporary ments will be provided, and the event is Monday statement. colors, separate guest welcome pedestals, open to the public. “The Northridge investment is a com- GoBoard technology for local navigation, Synergy Treatment Centers mitment that will help enable Nike’s future flexible seating options, an enlarged busi- Gets Grant for Property growth and bring new opportunities into ness library, high-definition televisions, Luttrell’s Executive Assistant Memphis.” free wireless Internet access and a 24/7 Synergy Treatment Centers has re- Moving to Evolve Bank The expansion is a more centralized food and beverage market. ceived a grant to rehabilitate the 46-year- operation for wholesale and retail distribu- Courtyard Memphis East’s guest rooms old property at 1157 Peabody Ave. Shelby County Mayor Mark Luttrell’s tion in a city that is already home to Nike’s have also been updated with more stylish The $214,508 grant to the drug and executive assistant is leaving his position second largest base of employees in North designs, plush bedding, large flat-screen alcohol treatment center was awarded by soon to become director of communica- America. TVs, a functional work area and separate the Federal Home Loan Bank of Cincinnati tions for Evolve Bank & Trust. With the expansion, Nike will be seating area and complimentary wireless through the U.S. Department of Hous- Dan Springer, 28, was hired on with the closing a leased distribution center on Internet access. ing and Urban Development’s affordable county in September 2010. Before serving Winchester Road. Additionally, Courtyard Memphis East housing program. The transitional housing in Luttrell’s office, he worked in U.S. Sen.

Frank Stallworth Frank Crump Randy Engel Brooks Winchester Rhett Armistead Executive Vice President Senior Vice President Senior Vice President Assistant Vice President Senior Vice President MAGNA BANK COMMERCIAL & MULTIFAMILY REAL ESTATE LENDING Mortgage Capital That Fits

MAGNA BANK ® 1000 Ridgeway Loop Rd., Suite 301 Memphis, Tennessee 38120 magnabank.com

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Bob Corker’s office as a legislative corre- Caring kickoff rally. The event honored the approximately 15,000 beds. Each recipient gets a salaried second- spondent. work of hundreds of nonprofit volunteers With this purchase, EdR owns or man- year summer associate position in one As communications director for Evolve, from across the Mid-South. ages 65 communities in 24 states with of the firm’s offices. After finishing the Springer will oversee the company’s com- more than 36,600 beds within more than summer associate position, the firm also munications and marketing strategies 12,000 units. awards each recipient a $10,000 scholar- as well as community and government EdR Completes Purchase ship during the student’s third year of law relations. He’ll continue to serve Luttrell’s Of Community in Michigan school. office until Nov. 2 and move to the bank Baker Donelson Awards later in the month. EdR, a Memphis-based developer, Diversity Scholarships owner and manager of collegiate housing, India Fest Slated has purchased Campus Village – a colle- The law firm of Baker, Donelson, For Nov. 3 at Agricenter Exchange Club Family giate housing community serving Michi- Bearman, Caldwell & Berkowitz PC has an- Center Gets $25,000 Grant gan State University in East Lansing – for nounced the 2012 recipients of the firm’s The 10th annual India Fest, a showcase $20.9 million. diversity scholarship. of the rich and diverse Indian culture in The Exchange Club Family Center has Campus Village is a 355-bed, 106-unit They are Stephanie deJesus, Willie Memphis, is set for Nov. 3 at Agricenter been named the recipient of the United community adjacent to the university. Santana and LaToyia Slay. International from 10 a.m. to 7 p.m. Way G. Bradley Wanzer Jr. Award For Excel- Developed in two phases in 2002 and A graduate of Vanderbilt University, Hosted by the India Association of lence. The award includes a $25,000 grant, 2004, the community is 97.7 percent leased deJesus is in her second year at the South Memphis, this year’s India Fest theme is which the Center will use to support its for the 2012-2013 academic year with an Texas College of Law and will clerk in “Past, Present and Future,” and is open to services and programs that assist those average monthly lease rate of $639 per Baker Donelson’s Houston office next the public. impacted by family violence and abuse. bed. The purchase price represents an ap- summer. Santana is in his second year Some 7,500 attended India Fest last The award honors G. Bradley Wanzer’s proximate 6.7 percent economic cap rate at the University of Tennessee College of year, and 8,000 are projected this year. 31-year career and legacy by recognizing on expected next 12 months’ net operating Law and will be a summer associate in More than 50 food and marketplace ven- United Way agencies in the Mid-South income. the firm’s Knoxville office. And Slay, who dors will be present. community that demonstrate high stan- The fully-furnished community fea- graduated magna cum laude from The Festival highlights include: booths dards of service. It focuses on a nonprofit’s tures one-, two-, three- and four-bedroom University of the South, is in her second selling traditional Indian cuisine prepared work in accountability, collaborations apartments with a private bathroom year at Mississippi College School of Law by local residents and restaurants; musical with other nonprofit organizations in the for each bedroom. Amenities include a and will be a summer associate in Baker performances from Tennessee and Mis- Mid-South, outcome measurements and clubhouse with fitness center, tanning Donelson’s Jackson, Miss., office. sissippi area artists; a shopping bazaar; its partnership with the United Way of the bed, computer lab/business center, game The three recipients were selected from cooking demonstrations; regional cultural Mid-South. room, volleyball court and grill/picnic 185 applicants attending 87 law schools displays; Indian arts and crafts; a kid’s cor- Barbara King, executive director of the area. across the country. Established in 2008, ner with games, Henna, costume parade, Exchange Club Family Center, accepted The Michigan State campus has a the Baker Donelson Diversity Scholarship yoga, storytelling, Hindi calligraphy and the award from Wanzer’s wife, Sally, and full-time enrollment of more than 41,500 Program awards scholarships annually face painting; and a medical junction with son, Bradley, during a recent ceremony undergraduate and graduate students. to diverse law school students who have health screens. held as part of the United Way’s Day of Current on-campus housing consists of completed their first year of law school. The cost for adults is $3 and for chil-

No other Memphis-based CPA firm has a longer legacy of providing accounting, tax and advisory services to the Mid-South community.

901.682.2431 • rbgcpa.com 4 October 26-November 1, 2012 www.thememphisnews.com

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dren is $1. Kids can also bring in two or boardwalk on the northern side of the Ha- The 10-year lease brings the Laurel- conditions (bull, bear and flat market more cans of food for the Mid-South Food rahan Rail Bridge across the Mississippi wood Shopping Center’s retail space to cycles). Bank for free entry. River. The project has secured $15 million 100 percent occupancy. Angel Investment Advisory Group is a Tickets are available at the door. Park- in federal funding with more being raised Construction will begin soon to local Memphis full-service financial firm ing is free. from private sources. completely renovate the space, which was that offers a wide range of financial prod- The commission also voted to accept previously occupied by Sachi and Cotton ucts to individuals and business owners. $867,848 in funding through a federal law Tails before those retailers expanded to a It has been in Memphis for more than 20 County Commission enforcement grant that covers the next larger store within the shopping center a years. Approves New Dobbs Honda two fiscal years. few years ago. Commissioner Henri Brooks at- Orvis represents a growing trend of Shelby County Commissioners ap- tempted unsuccessfully to hold any future upscale retailers entering Memphis out- LeMoyne-Owen College proved Monday, Oct. 22, a Dobbs Honda funding through the grant process for door lifestyle shopping centers in recent Receives $1 Million Gift car lot on the northeast side of Hacks Memphis-Shelby County Juvenile Court times. Cross Road and Tenn. 385. until the court signs off on a plan with Vancouver, British Columbia-based The estate of a 1940 graduate of The dealership will move from the the U.S. Justice Department to remedy a Lululemon Athletica Inc. opened in LeMoyne-Owen College is donating $1 location it has had at 2785 Mendenhall number of problems cited in a Civil Rights Regalia shopping center in August and million to the college’s annual fund, col- Road for 20 years. The new dealership is Division review of the court earlier this Philadelphia-based Free People opened lege officials announced Friday, Oct. 19. a $10.5 million project that is expected to year. at The Shops of Saddle Creek in German- It is the largest single donation in the produce 30 jobs once completed. town in September. 150-year-history of the city’s only histori- The commission also approved cally black college. $844,686 in funding for the relocation of The Orvis Co. to Open The gift from the estate of Wylodine utilities at the new Fite Road bridge over In Laurelwood Center Angel Investment Group Taylor Patton is the second since her the Canadian National Railway Co. cross- Announces Investment death in 2009. ing in North Shelby County. The Orvis Co. has leased a Her estate donated $500,000 to the And the body approved the use of $2 6,000-square-foot space in Laurelwood Angel Investment Advisory Group and college in 2010. million in payment-in-lieu-of-taxes ex- Shopping Center and is expected to open Brookstone Capital Management have Patton set up a revocable trust in tension funds by the Center City Revenue in early February. launched an investment strategy called which the college is to receive 75 percent Finance Corp. for the $30 million “Main The 156-year-old, Manchester, Vt.- SMARToption. of her estate. The $1 million contribution Street to Main Street” project. The $2 mil- based retailer supplies fly-fishing gear, The new strategy is sub-advised by a comes from the recent sale of real estate lion comes from fees paid on tax breaks exclusive lines of clothing and accessories money management firm and is intended she owned in the San Francisco area. by businesses within the Downtown for men and women, home accents, gifts, to grow wealth while protecting capital. The LeMoyne-Owen College annual district. pet products and sporting goods. SMARToption does not rely on market fund bridges the gap between the cost It includes improvements to Main Orvis’ new store is located between timing, asset allocation or buy-and-hold of business for the college of just more Street in Memphis and Broadway Street in The Grove Grill and Booksellers of Laurel- strategies. than 1,000 students and revenue from the West Memphis. The link between the two wood, next door to J. Jill and South House Also, it seeks to maximize returns and tuition students pay. “main streets” is a pedestrian and bicycle Jewelry. minimize losses in all three types of market The goal is to keep tuition rates stable.

CFO/Controller Conference Series Presented by: CBIZ MHM Thompson Dunavant & The Daily News

8:30 a.m. Registration / Breakfast EARN 9:00 a.m. Estate And Gift Tax Update: Key Planning Opportunities NOVEMBER 14, 2012 4 CPE To Expire At Year End And Major Changes Loom For 2013 8:30 A.M. – 1:00 P.M. CREDITS! 10:00 a.m. Business And Personal Investments: Diversification, Taxes And The Economy University Of Memphis, 11:00 a.m. Hot Tax Topics For CFOs And Controllers Fogelman Center 12:00 p.m. Lunch / M&A Market Update And Steps To Build Value From The Perspective Of A CFO COST: $50 – Space is limited; breakfast & lunch provided.

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Electrolux Shows Third into urban areas, especially the opening of Quarter Improvement the school’s Memphis campus in 2001. Electrolux, the Swedish parent com- FROM THE BLOG pany of Electrolux North America Cook- US Homes Sales ing Products, reported better sales and Decline 1.7 Percent earnings in the third quarter of 2012 than Steve Mulroy vs. Alberto Gonzales a year ago. U.S. sales of previously occupied The worldwide company’s operating Editor’s Note: “From the Blog” is a weekly feature that highlights homes fell in September after hitting a margin, the measurement of the propor- two-year high in August, in part because some of the enterprising work our staff and contributors post on The tion of the company’s revenue left after there were fewer homes available for sale. paying variable costs of production, was Daily News blog, blog.memphisdailynews.com. The National Association of Realtors above 6 percent for all of its divisions said Friday that sales dipped 1.7 percent to except Europe. a seasonally adjusted annual rate of 4.75 The improvement included North ANDY MEEK | The Memphis News million. That’s down from a rate of 4.83 America where the company is building a million in August, which was the highest in new Memphis plant in the Frank Pidgeon ere’s something you don’t see every day: more than two years. Industrial Park. Earlier this month, sign H Shelby County Commissioner Steve Mulroy, a former Sales are still up 11 percent from a crews put the Electrolux logo on the plant year earlier. They remain below the more that will make stoves and ranges. It sym- Justice Department attorney and staunch Democrat, probing than 5.5 million that economists consider bolizes that construction of the plant is George W. Bush’s former U.S. Atty. Gen. Alberto Gonzales on the consistent with a healthy market. past the halfway point of completion. Still, the housing market is recovering Electrolux President and CEO Keith legal justification for drone attacks and on whether the president after a six-year slump. Economists expect McLoughlin characterized market demand has the power to unilaterally declare an American an enemy sales will rebound in October, noting that for Electrolux products in North America mortgage applications have picked up as “slightly positive.” combatant. That’s what happened during a recent presentation after falling in August. at the U of M law school. Gonzales was less emphatic on wheth- Sales have improved from last year, helped by record-low mortgage rates Central Defense Security er the president has that power than he was in saying, once the and steady gains in home prices in most Opens Second Texas Office president has declared someone an enemy combatant, he has metro areas. Home prices are more stable because there are fewer foreclosures and Memphis-based private security no qualms about the president sending out a drone. a low supply of homes has some markets provider Central Defense Security has more competitive. In Gonzales’ words, “I’ve got no problem with the president expanded in Texas. The inventory of homes for sale fell in CDS has opened an Amarillo office, taking you out.” Regarding whether the president can declare an September to 2.32 million. It would take the company’s second in Texas from 5.9 months to exhaust the supply at the which it will initially provide asset, client American an enemy combatant, Gonzales said as long as there is current sales pace, the lowest sales-to- and customer protection for a national a process to make that determination, then the president would inventory ratio since March 2006. retailer through a multi-year contract. Economists noted that rising prices CDS entered the Texas market earlier seem to be on good legal ground. could spur more homeowners to put their this year with the opening of its Dallas/ homes on the market, which could fuel Fort Worth office in Arlington. It’s also in more sales. the process of negotiating several con- Sales rose slightly in the South last tracts to provide security services in the month, compared to August. They fell in all region. Memphis Bar Foundation. The founda- St. George's Recognized other regions. In the past year, sales have The Amarillo office has plans to add tion, formed in 1982, is the philanthropic risen at a healthy pace in the Northeast, additional management, administra- arm of the Memphis Bar Association. By National Partnership South and Midwest. They have risen only tion and security staff as the business Blaylock concentrates his practice in St. George’s Independent School is slightly in the West, where inventories are develops, which would complement an the areas of creditors’ rights, bankruptcy featured in the October newsletter of the particularly tight. existing account manager and 16 security and insolvency, secured creditor repre- National Partnership for Educational Ac- The market is still being constrained guards. sentation and general commercial law. He cess. by tougher lending standards. Many has participated as a speaker in seminars The organization itself partners with would-be buyers, particularly first-time relating to bankruptcy and commercial St. George’s faculty, staff and parents on a buyers, are having difficulty qualifying for Bar Foundation Adds law, and has won many industry plau- goal of better opportunities for education a mortgage or can’t afford the larger down Glankler Brown Attorney dits including being named a Mid-South that targets underserved students across payments that many lenders want. SuperLawyer and among the “Best 101 the country. A low supply of previously occupied Glankler Brown PLLC attorney David Lawyers in Tennessee” as ranked by the The school is noted in the nationally homes has also given a boost to the new- Blaylock has been named a Fellow of the publication BusinessTN. distributed newsletter for its expansion home market.

Call for an appointment today! 901.685.5008 The more we invest in children from birth to 3 A Patient’s View: “I’ve had a lot of dentists before (I’ve lived in a lot of places), and I’ve had dentists whose work is the better crop of definitely shoddy. Finding a good service provider is hard. It’s a lot like finding a good hair stylist/barber; teenagers we’ll get. once you find someone, you stick with them.” I highly recommend Dr. Castle. His work is top notch and he is extremely nice; he’s definitely not one of those uppity, crusty doctor types!” - Paul C. William N. Castle, D.D.S. general dentistry 79 n. cooper (in midtown) • memphis, tn 38104 Go to TUCI.org for a copy of the Parents Guide to Kindergarten Readiness. 6 October 26-November 1, 2012 www.thememphisnews.com

contributors October 26-november 1, VOL. 5, NO. 44 news

TOURISM

President & CEO Peter Schutt bill dries Senior Reporter

General Manager Emeritus Government, Transportation/Distribution/Logistics, Ed Rains Education, Manufacturing, Agribusiness 528-5277 | [email protected] Publisher Eric Barnes

Associate Publisher & Executive Editor James Overstreet

Managing Editor Lance Allan Wiedower

Deputy Managing Editor andy meek Eric Smith Senior Reporter

Banking/Financial Services/Accountants, Markets & Economy, Associate Editor Economic Development, Small Business, Attorneys/Courts/ Kate Simone Civil Litigation 528-5279 | [email protected] Photo: Courtesy of Stax Museum of American Soul Music Graphic Designer & Photo Editor The city of Memphis and its musical heritage is on display in numerous ways around Brad Johnson the globe, including this special exhibit in Germany called “Memphis Exhibition Berlin.”

Graphic Designer & Illustrator Emily Morrow

Senior Production Assistant Sandy Youngblood International Exposure

SARAH BAKER | Production Assistant REPORTER SARAH BAKER The Memphis News said. “There is this very positive allure Laurie Beck of being from Memphis and having that Commercial and Residential Real Estate, Architects/Engi- Memphis connection. We basically export neers/Construction, Advertising/PR/Media, Tourism/Hospi- Pressman tality, Food/Restaurants it to the rest of the world.” Cedric Walsh 521-2464 | [email protected] Memphis music, The “Memphis Exhibition Berlin” is a prime example of Memphis’ global repute. Pressman culture spotlighted Put together by husband and wife business Pete Mitchell partners West Berliners Clemens Guber- at exhibits worldwide nath and Jacqueline Mende, the exhibit Administrative Specialist Marsha Payne portrays Memphis as an important place he Memphis hotel industry can for the development of American music Senior Account Executive thank at least 200,000 of its room culture, starting with the blues, on to rock Janice Jenkins T nights last year to European visi- 'n’ roll and soul, and the influence on DON WADE tors booked by tour operators. youth culture and society worldwide. Account Executive SPORTS COLUMNIST European stays in Memphis averaged Located in Berlin’s Gibson Guitar Robin Bender [email protected] three nights, with each person spending Showroom, “Memphis Exhibition Berlin” more than $200 per day. features photographs – many of which Advertising Director Don Fancher Those are projections from the were taken by Ernest Withers – clothing, Memphis Convention and Visitors Bureau documents, films and other memora-

Business Development Manager after Memphis was featured in the travel bilia that tell the story of world-famous Patricia McKinney catalogs and websites of more than 200 Beale Street, Sun Studio, Stax Records and European tour operators in 2011. Memphis’ pivotal role in the American civil Director of Marketing & Circulation That robust marketing trend is con- rights movement of the 1950s and 1960s. Donna Waggener tinuing this fall, as Memphis has more so Tim Sampson, communications LANCE MURPHEY than usual stepped into the international director at the Stax Museum, took nine Production/Distribution Manager PHOTOGRAPHER limelight with a medley of events and Stax Music Academy students to perform John Buescher Weekly features, spot news exhibits. at opening reception festivities. To his [email protected] In Germany, “Memphis Exhibition surprise, those in the crowd who didn’t Controller Pam Mallett Berlin” runs until Oct. 28; in Sao Paulo, speak English thought the students were Brazil, the “Elvis Experience” runs until professional musicians and were scream- To reach our editorial department, e-mail: Dec. 1; in England, Memphis-themed taxis ing in excitement. [email protected] or call: 901-523-1561 have been on the streets in London since Meanwhile, the “Elvis Experience” is Published by: before the Olympics and the “Rock ‘n’ Soul about halfway through its 12-week run in THE DAILY NEWS PUBLISHING CO. 193 Jefferson Avenue Mates” initiative continues in Liverpool for Sao Paulo’s Shopping Eldorado Mall – the Memphis, TN 38103 another year. largest Elvis exhibition to ever take place P.O. Box 3663 Memphis, TN 38173-0663 And last month in Tokyo, Japan, the outside of the U.S. It features more than Tel: 901.523.1561 “Million Dollar Quartet” – a musical show- 600 rare artifacts, documents and photos, Fax: 901.526.5813 www.memphisdailynews.com The Daily News is supportive, including in casing the December 1956 meeting of Elvis many of which have never left Graceland. some case being on the boards of, the following Presley, Jerry Lee Lewis, Carl Perkins and Yet another hot tourism market for The Daily News is a general interest organizations: Literacy Mid-South, Grace St. newspaper covering business, law, Luke's Episcopal School, Wolf River Conservancy, Johnny Cash at Sun Studio – wrapped up Memphis is the United Kingdom. Starting government, and real estate and Ronald McDonald House, Great Outdoors its run. It’s the first time for so many proj- with the Summer Olympics and over the development throughout the Memphis University, Tennessee Wildlife Federation, metropolitan area. Temple Israel, St. Jude's, St George's ects highlighting the birthplace of blues course of the next year, 10 London taxi The Daily News, the successor of the Daily Independent Schools, Shelby Residential & and rock ‘n’ roll to be occurring in different cabs with the Memphis logo are bustling Record, The Daily Court Reporter, and The Vocational Svcs, Shelby Farms Park, Calvary Daily Court News, was founded in 1886. & The Arts, Bridges, Boys & Girls Club of parts of the world simultaneously, said around the city. And while the “Memphis” Greater Memphis, Binghampton Development CVB president and CEO Kevin Kane. musical is still on its U.S. tour through Corporation, U of M Journalism Dept., Chickasaw AUDIT PENDING Council Boy Scouts, Memphis Leadership “That notoriety … speaks volumes of June, it's negotiating a show in London Foundation, Junior Achievement, Overton Park our rich heritage in this city that we posses for fall 2013. What’s more, in Liverpool, Conservancy, The Cotton Museum and WKNO. and how there is a global interest of what England, the “Rock ‘n’ Soul Mates” exhibit our legacy represents in the world,” Kane just completed its first year. www.thememphisnews.com October 26-November 1, 2012 7

news

FINANCIAL SERVICES ECONOMY State, Employers Negative Impact Make Jobs Push

ANDY MEEK | The Memphis News For Veterans

ANDY MEEK | The Memphis News

undreds of thousands of veterans will be coming home in the near Hfuture, as the U.S. downsizes its presence in the Middle East. Many of those veterans will need jobs. And employers across Tennessee, with help from state government, are going on a major hiring push to put them to work. The Tennessee Department of Labor has joined employers including Dollar Gen- eral and others around the state to connect veterans with jobs in an initiative called “Paychecks for Patriots.” It will feature hiring fairs held Thursday, Oct. 25, in 13 Tennessee Career Centers across the state that will con- nect veterans with local employers. The Paychecks for Patriots hiring fair in Memphis will be held from 10 a.m. to 2 p.m. at 1295 Poplar Ave. on a day that Tennessee Gov. Bill Haslam has declared “Paychecks for Memphis News File Photo: Lance Murphey Patriots Day.” First Horizon National Corp., whose headquarters are in Downtown Memphis (above), reported a $26 million profit for the third quarter. However, the company’s results still missed Wall Street’s expectations. The fairs will be held concurrently in Chattanooga, Clarksville, Columbia, Cookev- ille, Crossville, Dyersburg, Jackson, Johnson City, Knoxville, Memphis, Nashville, Talbott Regulatory guidelines hurt Memphis-based First Horizon National and Tullahoma. Corp. profit as it falls short of Wall Street expectations In Memphis, representatives from Au- toZone Inc., Nike Inc., Dollar General Corp., FedEx Corp., Corrections Corp. of America, irst Horizon National Corp. rizon chairman and CEO Bryan Jordan. Average total loans at First Ten- Hospital Corp. of America, ESTES and Titan reported a $26 million profit for He added the company is continu- nessee, the largest bank based in the Transfer Inc. will be on hand to accept Fthe third quarter and improved ing to make progress in unwinding its state, were up 12 percent from a year resumes or to refer job seekers to online ap- profitability in its regional banking and non-core businesses and to streamline earlier, and average core deposits plications. capital markets businesses, though the its processes and find new ways of increased 9 percent year-over-year. In a statement about the initiative, Memphis-based company’s results still reaching customers. And one analyst Higher loan balances helped improve Haslam said he’s happy the state could help missed Wall Street’s expectations. who was pleased with the quarter’s the company’s net interest income and in this effort by partnering with local employ- The parent company of First Ten- results titled his commentary sent out contribute a 2 percent increase in total ers. nessee Bank notched a profit of $26 to clients in the aftermath of the com- revenue from the second quarter to the “We should never take for granted the million between July and September, pany’s earnings conference call, “Final third quarter. freedoms we enjoy here at home because of down 29 percent from the $36.1 mil- Thoughts on 3Q12 Results: Much Bet- As the company continues trim- the service of veterans,” he said. “I am really lion profit it reported during the same ter than the Headline Suggested.” ming itself down, it reported an 18 grateful for our service members and all that quarter in 2011. On an earnings-per- According to Wunderlich Securi- percent decrease in consolidated they do overseas and back here at home.” share basis, the company earned 10 ties Inc. bank analyst Kevin Reynolds, expenses year-over-year. Tennessee Career Centers, where those cents in the third quarter, down from “Excluding one-time items, (First Along those lines, the company veterans will participate in the job fairs, are 14 cents one year earlier. Horizon’s) results reflected solid earlier this month sent out letters of- equipped with computer workstations to The company’s mortgage repur- performance within the regional bank fering buyouts to some 400 employees. facilitate online applications and job searches chase provision expense couldn’t get with strong loan growth and a stable And the company’s executive leader- through a database at www.jobs4tn.gov. Ten- any lower than it did in the third quar- (net interest margin). … Our $12 price ship, including Jordan, is taking a pay nessee has a network of those centers that ter, when it fell to zero. Revenue, loans, target reflects our expectation that cut. serve myriad purposes, including offering deposits and fixed income activity all First Horizon will continue to improve The company in recent days ac- such services as labor market information, saw improvement during the quarter its bottom line performance as the knowledged that Jordan volunteered Internet access, workshops, an online talent as well. Still, the company’s 10 cent economy recovers, and we believe for a pay cut including a 5 percent bank, job placement, recruitment and train- earnings per share result missed the 19 current levels continue to offer an reduction to his cash salary. ing referrals. cents that was the consensus estimate attractive entry point for long-term Meanwhile, FTN Financial – the Several state agencies are contributing to among analysts. investors.” company’s capital markets business the Paychecks for Patriots push including the Also, the company said recently The company has plenty of capital, – continues to be a boon for First Ho- departments of Labor and Workforce Devel- issued regulatory guidelines on con- exceeding levels at which it would be rizon, with third quarter fixed income opment, Economic and Community Devel- sumer loans had a negative impact of 7 regarded as “well-capitalized” and average daily revenue of $1.2 million. opment, Military, Veterans Affairs and the cents on earnings per share. it gave shareholders a dividend of “Powering through the noise on Employer Support of the Tennessee National “Our employees continue to do a a penny per share Oct. 1. Also dur- this,” Reynolds wrote, “(First Hori- Guard and Reserve. Dollar General, one of the fantastic job building relationships ing the second quarter, First Horizon zon’s) 3Q12 results were pretty solid, major employers participating, already has with our customers, winning new busi- repurchased $15 million in stock, with loan growth, revenue growth, a hired more than 7,000 veterans in the last two ness and working more efficiently, and leaving $60 million available under the stable net interest margin, improv- years, according to Dollar General executive that’s reflected in the financial results company’s $200 million stock buyback ing expenses and greatly diminished vice president and chief people officer Bob for our core businesses,” said First Ho- program. mortgage repurchase risk.” Ravener. 8 October 26-November 1, 2012 www.thememphisnews.com

QUARTERLY REPORT Hospital Liens Escalate in Third Quarter

BILL DRIES | The Memphis News

Circuit Court filings Third Quarter 2012 Court Filings September Court Filings rise as hospitals seek Q3 2012 Q3 2011 2012 2011 Circuit 1,884 1,686 Total 837 729 payments 607 Hospital Liens 481 DivorceS Circuit 608 580 486 Divorces 374 Hospital Liens Chancery 148 149 ircuit Court filings for the third 285 Auto Accident Claims 277 Auto Accident Claims Probate 81 87 quarter of 2012 were up from a year ago while Chancery and Pro- Chancery 394 442 Source: The Daily News Online C www.memphisdailynews.com bate Court filings were down. 129 Divorces 158 DivorceS The filings for the three civil courts, as 59 Delinquent Taxes 48 Contract Breach followed by The Daily News Online, www. 32 Worker Comp 36 Damages Complaint has knowledge and interest,” said Mem- memphisdailynews.com, also included phis attorney Deborah K. Brooks, who will Probate 273 254 a spike in hospital liens filed in Circuit be among those taking input at the Mem- Court. The 607 liens filed by hospitals for 139 Wills 114 WiLLS phis hearing. Brooks’ practice is primarily insurance payments patients receive was 67 Administrators 69 Conservators in the area of elder law. the top category accounting for a third of 58 Conservators 53 AdministratorS “Sometimes it can just be a person at the 1,884 cases filed in Circuit from July 1 a nursing home who sees a person needs 9 Guardians 18 Guardians to Sept. 30. help,” she said. “I’m afraid it may dissuade Source: The Daily News Online A year ago the liens numbered 374. www.memphisdailynews.com some potential petitioners who see people Divorces with and without children, in trouble from filing needed conservator- which is usually the top category, re- The 139 wills filed marked the largest “We’re probably going to offer pro- ship actions.” mained about the same at 486 compared category followed by 67 administrators, posed amendments to the current Wright said the motivation behind to 481 the same period a year ago. Civil 58 conservatorships and nine guardian statutes,” said Jackson, Tenn., attorney the laws appear to address “common claims connected to auto accidents were appointments. Conservatorships had been Pam Wright of West Tennessee Legal problems” based on comments from the the third-highest category with 285 filings. the second-highest category and adminis- Services, who is coordinating the input hearings so far. The total number of third-quarter trators the third highest a year ago. sessions. “We’re looking at specific things “Some courts probably need more filings in Circuit is a 20.6 percent increase The change is rare in the Probate Court that might need to be addressed in the information,” she added. “There’s probably from the 1,686 filings in the third quarter numbers, which are usually the most con- statute.” a need for some kind of training and edu- of 2011. The 394 Chancery Court filings sistent of the civil court numbers. Petitioners for conservatorships and cation of individuals who are named to be represented a 20.9 percent drop from 442 The conservatorships are an area of the conservators appointed by Probate conservators of what is expected of them.” the same period a year ago. state law that has changed in the last year Court have to report whether they have A proposal the Tennessee Legislature Divorces remained the top category at with some new state laws and proposals ever been convicted of a misdemeanor or is expected to take up next year would 129 with 59 delinquent tax claims filed and for other measures. Both are being exam- felony at any point in their lives. The law bar Probate Court judges from appoint- 32 workers compensation claims. A year ined by the Tennessee Bar Association at a was passed this year after stories in The ing guardian ad litems for someone 60 or ago divorces were a bit higher at 158 with set of hearings across the state that began Tennessean newspaper in Nashville this older. The guardian ad litem performs an breach of contract claims second followed in Nashville last month. year about Jewell Tinnon. The Nashville investigation including talking to doctors by complaints for damages. The Memphis session on conservator- woman had her house and possessions about the person’s medical condition and The 273 Probate Court filings in Q3 ship laws is Tuesday, Oct. 23, from 1 p.m. to sold off by conservators who were rela- looking at bank records as well as other were a 7 percent increase from the 254 in 5 p.m., at the University of Memphis Cecil tives she had not seen for six years. items that figure into a recommendation the third quarter of 2011. C. Humphreys School of Law. “The petitioner is just a person who to the court.

Desperately Seeking Dividends Over Bond Interest

The 10-year Treasury bond, countries offer a 3.7 percent dividend ing five-year multiple of 12x earnings, and divergences the emerging markets are which historically yields 5 percent, yields yield. Surprisingly, the more swiftly grow- a 3.7 percent dividend yield. The emerg- vastly underappreciated. 1.75 percent today. At these levels, the ing emerging markets yield nearly 3 per- ing markets have a 5 percent economic Another way to assess the maturity of risk/reward features of low yielding bonds cent. At the country level in the developed growth rate, a trailing five-year multiple of these markets is to consider their sov- and higher yielding world, the United Kingdom 14x earnings and a dividend yield of 3 per- ereign bond yields. Obviously, bonds in stocks favors stock divi- offers a 4.1 percent yield, cent. Seen in this light, the “quality” pre- risky regions like southern Europe trade dends over bond interest France a 4.2 percent yield, mium for the U.S. seems a bit much. Eu- at steep discounts and high yields. For payments. However, with and Australia a 4.9 percent ropean payouts might seem vulnerable orientation, the yield on the 10-year Greek dividend yields in hot pur- yield. In the emerging world, with the European economic condition, bond is 18 percent, and 6 percent on the suit, investors have driven China yields 3.3 percent, although they do begin far higher than Spanish 10-year bond. Across the emerg- valuations higher for U.S. Russia 3.6 percent, and Brazil their U.S. peers. The emerging markets, ing markets, yields have fallen consistent- dividend payers. In fact, 4.1 percent. Outside the U.S., on the other hand, boasts higher growth, ly since the early 2000s and now average David S. Waddell high yielding U.S. stocks the worldly these dividend yields well lower valuations, and higher payouts. 4.5 percent across the category. Lower now carry higher valua- investor exceed their 10-year averages Those of you fearful about the term debt burdens, higher growth rates and tions than the market on unlike the U.S. yield, which “emerging markets” might consider how steadily improving credit ratings have average, far above their normal 20 percent mirrors its 10-year average. mature they have become. While the curried favor with yield-seeking bond in- discount. This is the highest valuation By combining economic growth rates, emerging markets only account for 13 per- vestors. This should ultimately encourage premium they have commanded since the valuations and current yields, we can now cent of world stock market capitalization, yield-seeking stock investors as well. 1950s. This does not foretell an immedi- evaluate the regional alternatives. The U.S. they comprise 50 percent of world GDP. David Waddell, who is regularly fea- ate valuation collapse, but it does beg the has a 2 percent economic growth rate, a Conversely, U.S. companies comprise 47 tured in the Wall Street Journal, USA Today question, are there better alternatives? trailing five-year multiple of 20x earnings, percent of world stock market capitaliza- and Forbes, as well as on Fox Business Currently, the S&P 500 offers a 2 per- and a 2 percent dividend yield. Europe has tion, while the U.S. only contributes 19 News and CNBC, is president and CEO of cent dividend yield. The ex-U.S. developed a 0 percent economic growth rate, a trail- percent of world GDP. Based upon these Memphis-based Waddell & Associates. www.thememphisnews.com October 26-November 1, 2012 9 Money&Markets Extra The decline of American manufactur- U.S. manufacturing? What types of manufacturers are most We own some producers of industrial ing is an outdated story, says Serena Labor costs in China and India have likely to expand in the U.S.? gases used in manufacturing, such as American Perin Vinton. The co-manager of the been rising 10 percent to 20 percent over We’re starting to see big potential in Praxair and Air Products & Chemicals. Franklin Growth fund sees an American the last few years, so their manufacturing appliances, machinery, chemicals, Praxair is seeing a resurgence in demand manufacturing manufacturing renaissance, driven by cost advantage is disappearing. And now plastics, rubber and furniture. And from U.S. manufacturers that refine Insider a variety of factors. Among them: wage in the U.S. we have this new abundant Japanese automakers like Toyota and petrochemicals, make semiconductors renaissance Q&A growth in China and India, rising oil source of cheap energy with natural gas. Honda are expanding manufacturing and fabricate metals. prices and high shipping costs. American With oil costs high, shipping goods is here, including hybrid vehicles. That Title: Co-manager, Franklin Growth Fund manufacturers also are benefiting from expensive. By adding jobs here rather leads to other potential benefits, like How long might it take for these (FKGRX) cheaper U.S.-produced natural gas, than offshore, you can reduce supply bringing hybrid battery manufacturing trends to play out? due to new drilling technologies. Vinton times and increase the availability of back to the U.S. and away from Mexico. As exciting as this is, we must What she suggests: cites recent domestic manufacturing goods. There’s also less political risk for There’s a ripple effect for the broader understand that it will take a long time. Stocks of many U.S.-based manufactur- expansions by such companies as manufacturers expanding here rather economy. For every manufacturing job Some of these manufacturing plants ers offer strong Procter & Gamble, General Electric, than overseas, and there’s less risk of brought back to the U.S., two to three take years to build. And there are investment potential as Intel, Caterpillar and Master Lock. She intellectual property theft. Also, the U.S jobs are created in the supply chain that legitimate concerns now about global economic trends make it sees long-term investment potential dollar is relatively cheap now, and it manufacturers rely on. economic growth prospects. But there more affordable for manufacturers to expand in companies with big stakes in a U.S. makes it more attractive to manufacture are opportunities to invest in high quality here rather than manufacturing comeback. here. Plus, productivity levels in the What are some stocks in your fund’s businesses at attractive prices. Serena Perin overseas. U.S. are high due to adoption of new portfolio that could benefit from the How are the factors you cite helping technologies and automation. onshoring trend? Answers edited for content and clarity. AP

BEHIND THE BRAND ANN TAYLOR (ANN) Gold’s next move Female The price of gold is on track to decline in October, economic growth. China imports large quantities of its first monthly decline since May. commodities, so its growth rate affects metals Gold hit a 2012 peak of $1,796 per ounce on Oct. demand. Although China’s growth has slowed, the fashion 4. Three weeks earlier, the Federal Reserve decline has leveled. That means Chinese leaders announced its latest round of bond may decide against further stimulus, buying to stimulate the economy, which could reduce gold demand. favorite known as QE3. When the Fed buys Yet some expect gold may not fall bonds, it pumps more money into far. The European debt crisis remains the economy. That stokes fears of a potential flash point and the QE3 high inflation in the future and program doesn’t have an end date. When it comes to women’s fashion, Ann, the chain’s parent weakens the value of the dollar — Another factor is whether lawmak- few brands are as established as company, started this year with Ann Taylor. more than 950 Ann Taylor, LOFT, both factors that tend to send gold ers in Washington can reach an Nearly 60 years since the first Ann Taylor Factory and LOFT prices higher. agreement to prevent automatic store opened for business, the Outlet stores in 46 states, Gold traded at $1,713 per ounce federal spending cuts and tax chain, along with its sister brands, Washington D.C. and Puerto Rico. on Thursday. So why the fall? increases from taking effect Jan. 1. has become a fixture of malls The company has continued to A key factor is whether China’s Until there’s a deal, uncertainty is likely to across the U.S. add new stores this year, with an leaders will take more action to revive cause many investors to hang on to gold. eye toward establishing a presence in Canada. It’s also opened smaller Thursday’s close: $34.22 Starting to melt? The price of an ounce of gold has slipped but lingering uncertainty may slow its decline. Ann Taylor stores in urban areas, Price-earnings ratio: 18 and beefed up its rollout of $1,800 Feb. 28: $1,788 Oct 4: (based on last 12 mos.) LOFT-brand outlet stores. Sept. 13, QE3 announced: $1,772 $1,796 52-week price range Unlike many other retailers, Ann Taylor employs designers to create Feb. 29: One-day drop of $77 an ounce, $22 $40 much of the clothing, shoes and Fed Chairman fails to hint at more bond other items sold at its stores. That’s 1,700 purchases: $1,711 1-yr. stock change: 28% Oct 25: 1-yr. S&P 500 change: 15% helped drive sales and keep customers coming back. $1,713 Market value: $1.6 billion In the six months ended July 28, 2011 revenue: $2.2 billion revenue grew nearly 7 percent to 1,600 $1.16 billion, while earnings Gold set a record of Dec. 31, 2011: $1,566 Avg. broker rating: jumped 14 percent to $59.5 million. $1,891 per ounce in SELL HOLD BUY A Jefferies analyst recently August 2011. May 16: $1,536 predicted a strong 2012 holiday 1,500 season for the company. J F M A M J J A S O Source: FactSet Mark Jewell; J. Paschke • AP Source: FactSet Data through Oct. 25 Alex Veiga, Jenni Sohn • AP

LocalStocks 52-WK RANGE CLOSE YTD% 1YR% 52-WK RANGE CLOSE YTD% 1YR% COMPANY TICKER LO HI CLOSE THUR. %CHG WK MO QTR CHG RTN P/E DIV COMPANY TICKER LO HI THUR. CHG %CHG WK MO QTR CHG RTN P/E DIV AT&T Inc T 27.41 7 38.58 34.50 -.21 -0.6 t t t +14.1 +26.3 45 1.76 Medtronic Inc MDT 33.11 8 44.79 41.88 +.19 +0.5 t t t +9.5 +23.0 12 1.04 t t t AutoZone Inc AZO 313.11 7 399.10 367.78 +3.42 +0.9 +13.2 +10.3 16 ... Merck & Co MRK 32.82 9 48.00 46.30 +.42 +0.9 t s s +22.8 +41.8 21 1.68 8 s t t BancorpSouth BXS 8.57 15.69 14.25 +.07 +0.5 +29.3 +29.4 16 0.04 Mid Amer Apartments MAA 55.12 6 70.22 64.06 -.09 -0.1 t t t +2.4 +11.1 33 2.64 Boyd Gaming BYD 5.17 3 9.75 6.19 +.05 +0.8 t t t -17.0 -6.4 44 ... Monsanto Co MON 67.09 8 92.20 86.49 ...... t t t +23.4 +17.3 23 1.50f Buckeye Technology BKI 24.08 3 38.50 27.54 -.46 -1.6 t t t -17.6 -2.3 15 0.36f Mueller Inds MLI 35.56 8 51.41 46.67 -1.46 -3.0 t s s +21.5 +5.5 23 0.40 Community Hlth Sys CYH 15.97 9 30.00 27.64 +.57 +2.1 s t t +58.4 +36.9 9 ... 1 t t t Corrections Corp CXW 20.14 9 35.16 33.34 +.34 +1.0 s t t +63.7 +48.0 22 0.80 Navistar Intl NAV 18.47 48.18 18.59 -.49 -2.6 -50.9 -55.6 dd ... t t t Cummins Inc CMI 82.20 3 129.51 94.05 +1.78 +1.9 s s s +6.9 -4.9 9 2.00 Nike Inc B NKE 85.10 3 114.81 91.31 -1.58 -1.7 -5.3 -0.8 20 1.44 Delta Air Lines DAL 7.08 5 12.25 9.64 -.40 -4.0 t s s +19.2 +12.8 4 ... Pinnacle Entert PNK 8.89 0 13.00 12.80 +.06 +0.5 s s s +26.0 +4.3 23 ... t s s Dillards Inc DDS 42.54 9 79.24 75.35 +.25 +0.3 +67.9 +44.8 8 0.20 Regions Fncl RF 3.51 8 7.73 6.61 +.15 +2.3 t t t +53.7 +66.7 12 0.04 5 s t t Dover Corp DOV 50.14 67.20 58.19 +.67 +1.2 +0.2 +9.4 12 1.40f Renasant Corp RNST 13.00 8 20.45 18.52 +.35 +1.9 s t t +23.5 +32.5 19 0.68 DuPont DD 43.06 2 57.50 45.17 +.26 +0.6 t t t -1.3 +1.1 14 1.72 Smith & Nephew PLC SNN 42.63 8 56.32 52.39 +.53 +1.0 s t t +8.8 +12.9 72 1.04e Education Realty Tr EDR 8.52 6 11.81 10.36 -.05 -0.5 t t t +1.3 +12.1 dd 0.40 Smucker, JM SJM 70.50 9 87.81 85.76 +.73 +0.9 s t t +9.7 +12.9 21 2.08 FedEx Corp FDX 76.06 8 97.19 91.12 +.29 +0.3 t s s +9.1 +12.1 14 0.56 8 t t t Fst Horizon Natl FHN 6.51 7 10.99 9.34 +.08 +0.9 s t t +16.8 +30.3 dd 0.04 Suntrust Bks STI 15.79 30.79 27.24 +.17 +0.6 +53.9 +39.0 8 0.20 s s s Freds Inc FRED 11.54 5 15.98 13.47 +.03 +0.2 t t t -7.6 +9.8 14 0.24 Synovus Fincl SNV 1.28 0 2.55 2.55 +.01 +0.4 +80.9 +91.1 dd 0.04 GTx Inc GTXI 2.34 5 6.55 4.23 +.12 +2.9 s t t +25.9 -6.8 dd ... Sysco Corp SYY 26.48 9 31.90 30.84 +.43 +1.4 t t t +5.1 +16.7 16 1.08 t t s Ingram Micro IM 14.42 2 19.80 15.30 +.02 +0.1 -15.9 -15.0 8 ... Trustmark TRMK 20.12 6 26.35 23.63 +.29 +1.2 s t t -2.7 +7.7 13 0.92 8 t t t Intl Paper IP 25.36 38.42 35.26 -1.12 -3.1 +19.1 +39.9 13 1.20a Tyson Foods TSN 14.07 4 21.06 16.37 -.03 -0.2 t s s -20.7 -12.7 12 0.16 Isle Capri Casino ISLE 3.90 6 7.92 6.21 +.31 +5.3 s t t +33.0 +13.7 dd ... UPS class B UPS 66.46 5 81.79 73.20 +.08 +0.1 s s s ... +6.3 19 2.28 Kellogg Co K 46.33 7 55.30 52.56 +.74 +1.4 s s s +3.9 -2.2 16 1.76f Utd Technologies UTX 70.41 5 87.50 77.29 -.61 -0.8 t t t +5.7 +4.2 13 2.14 Kirklands Inc KIRK 8.50 2 17.42 9.54 -.01 -0.1 t t t -28.3 -14.6 12 ... 7 t t t Kroger Co KR 20.98 0 25.36 25.36 +.35 +1.4 s s s +4.7 +9.5 23 0.60f Valero Energy VLO 19.12 34.36 28.49 +.08 +0.3 +35.3 +24.9 7 0.70f t t t LifePoint Hosp LPNT 34.32 6 43.87 40.04 +.22 +0.6 t t t +7.8 +1.6 12 ... Verso Paper Corp VRS 0.85 2 3.36 1.21 -.02 -1.6 +26.0 -28.9 40 ... Macy’s Inc M 28.69 8 42.17 38.68 -.20 -0.5 t s s +20.2 +27.2 12 0.80 Wright Medical Grp WMGI 13.57 8 22.59 20.15 -.16 -0.8 t t t +22.1 +11.3 54 ...

Dividend Footnotes: a - Extra dividends were paid, but are not included. b - Annual rate plus stock. c - Liquidating dividend. e - Amount declared or paid in last 12 months. f - Current annual rate, which was increased by most recent dividend announcement. i - Sum of dividends paid after stock split, no regular rate. j - Sum of dividends paid this year. Most recent dividend was omitted or deferred. k - Declared or paid this year, a cumulative issue with dividends in arrears. m - Current annual rate, which was decreased by most recent dividend announcement. p - Initial dividend, annual rate not known, yield not shown. r - Declared or paid in preceding 12 months plus stock dividend. t - Paid in stock, approximate cash value on ex-distribution date. PE Footnotes: q - Stock is a closed-end fund - no P/E ratio shown. cc - P/E exceeds 99. dd - Loss in last 12 months. 10 October 26-November 1, 2012 www.thememphisnews.com

Caring About ARTS Global Economy

Ray’s Take Most people tend to think provincially. We see and weigh what is closer to us more heavily than things and events that are further away. Americans in particular have long believed that what happens to the economies outside our borders doesn’t really affect us. The euro may be threatened and certain countries facing default, but we tend to believe that our economy is so massive and insulated that it won’t really bother us. However, that’s not the case anymore. Our economy is tightly tied into the ray & dana Brandon rays of wisdom world’s. In fact, international transactions account for more than 30 percent of our total output. Our Fortune 500 companies get half their revenues from international operations, and foreign capital stakes a significant investment in domestic entities. Our global economic involvement is a two-edged Photo: Courtesy of RiverArtsFest sword: it has enriched the U.S. more than a trillion The South Main Historic Arts District this weekend will be filled with food, music and plenty of art as thousands dollars each year, yet nearly a half million American of visitors attend the sixth annual RiverArtsFest. workers lose their jobs at least temporarily annually. While international commerce has many benefits – we love low prices – it has brought individual pain. Regardless, any crisis in the global economy directly threatens American companies – not just their profitability but also their employees. Our ex- ports would decrease, which would create a negative Art City ripple effect throughout our own economy. Foreign investment here would diminish simply because In sixth year, RiverArtsFest attendees ‘get it’ there wouldn’t be as much capital to invest. Less confidence in the global economy – and the Euro- pean Union is of particular concern – means less ERINN FIGG | Special to The Memphis News as a variety of street performers gotten bigger and better every year, spending and investing all around the globe. coordinated by the Memphis Music Watkins said. We might like to think that we’re insulated from Foundation. Artist in Motion stations “Every year we do something the rest of the world, but we’re all in this together. So will feature demonstrations of differ- different. This year we decided to be aware of what is happening to economies beyond rtists Colleen Couch-Smith ent art mediums. And children of all create a food court at South Main our shores. and Kelly Lindsey of Mem- ages can express themselves through and Webster Avenue.” Tsunami restaurant owner Ben The United States is still the leader of the global Aphis are the creative minds interactive projects at the Hands On behind Rock Paper Scissors (in- Art attraction, presented by Arts- Smith will manage the food court, economy, but the continuation of our economic dielamps.com), offering lamps Memphis, which also sponsors the and Watkins says grouping the food strength and influence doesn’t just depend on what distinctive enough to double as related Art in the Making program, trucks and vendors in one place we do here. For better or worse, our economy is illuminated art. enabling 10 RiverArtsFest artists should help ease foot traffic conges- intertwined with that of the rest of the world. In this At the moment, they primarily to teach master classes in 10 area tion throughout the Artist Market. day and age, no one “goes it alone” and thrives. sell their work at local arts festivals, schools for the fifth consecutive year. This year, RiverArtsFest also is and there’s one in particular where “The whole purpose of RiverArts- illuminating all the artists’ booths for Dana’s Take they truly feel at home. Fest is to allow people to get up close a Friday night Artist Market planned For two decades my sister has worked as an “I feel like the people who attend and personal with the fine arts,” exclusively for the South Main Art accountant for a company whose name begins with RiverArtsFest really get it,” Couch- Watkins said. “We try to give them Trolley Tour, the monthly event that the word “American.” A few years ago her company Smith said. “They know that if they many ways to do that.” sees the district’s restaurants, galler- was purchased by a business in Singapore. Now, her go to that festival, they’re going to RiverArtsFest originated in 2007 ies and boutiques open from 6 p.m. boss and the accounting team speak Chinese. find unique, handmade things that as a way to keep the spirit of the for- to 9 p.m. How do we prepare our children for this global have quality and meaning.” mer Arts in the Park festival alive. Also new for RiverArtsFest 2012: marketplace? Start small by exposing kids to Now in its sixth year, RiverAr- “After Arts in the Park closed, a $5 admission fee for patrons 12 international foods and sports with global appeal, tsFest 2012 begins at 6 p.m. Friday, some of us wondered if we could pull and older. However, attendees on a like soccer. Invite friends from other cultures to your Oct. 26, and runs through 5 p.m. off a festival in the street,” Watkins tight budget can enjoy free admis- home. Friendship is the shortest route to under- Sunday, Oct. 28, in the South Main said. “We called all the past chair- sion Friday evening and 10 a.m. to standing. Historic Arts District. Couch-Smith men and volunteers from Arts in the noon Sunday. Take it up a notch by hosting a foreign exchange and Lindsey will be among the more Park to a big meeting – every one of “Our sponsorships have dwin- student. When planning a family vacation consider than 170 juried artists in this year’s them came. It was really exciting.” dled because of the economy,” far-flung spots like India or Thailand. A college stu- expanded Artist Market, which, if The festival’s steering committee Watkins said. dent’s junior year abroad could be in a city outside of history is any indication, should is comprised of many of those Arts in “A nominal fee will give us just the EU, like Hong Kong or Sao Paulo. attract tens of thousands of art the Park volunteers as well as mem- enough money to keep RiverArtsFest Opening our kids’ eyes to the world will position enthusiasts. bers of the South Main Association. going.” them to adapt and succeed. “It’s gotten bigger every year. We It also operates under Experience Art Festival organizers rely on spon- Ray Brandon is a certified financial planner and have attendee estimates as high as in Memphis (formerly Memphis Arts sorships to cover costs such as tent CEO of Brandon Financial Planning (www.brandon- 85,000,” said Carol Watkins, one of Festival), the 501(c)3 that governed rentals, electrical equipment, sup- planning.com). His wife, Dana, has a bachelor’s de- the festival’s founders and a member Arts in the Park. All proceeds go plies, necessary software and many gree in finance and is a licensed clinical social worker. of its 2012 board of directors. “It’s back into growing the festival and other logistics-oriented costs. Contact Ray Brandon at raybrandon@brandonplan- very rewarding to put on a festival so cultivating the arts community in Complete festival dates and ning.com. the whole city can enjoy the arts.” Memphis. hours are 6 p.m. to 9 p.m. Friday, 10 This year’s festival also will That first RiverArtsFest attracted a.m. to 6 p.m. Saturday and 10 a.m. include three music stages as well about 40,000 patrons. Since then, it’s to 5 p.m. Sunday. www.thememphisnews.com October 26-November 1, 2012 11

HEALTH CARE & BIOTECH SPORTS Race for the Cure NBA Approves Pera As New Grizzlies Owner

Marks 20th Local Event ANDY MEEK | The Memphis News

ERINN FIGG | Special to The Memphis News

hanks to a unanimous vote of approval from the NBA Board of Governors, Robert Pera is a ink is prevalent during the 20th race, she says at the moment of $40,000 a year to the Memphis- Tfew days away from being the new owner of month of October, but don’t they’re not on track for that. MidSouth Affiliate. The company the Memphis Grizzlies. Plet its playful, flirtatious de- “If people want to help us meet also has launched a Pink Ribbon The NBA’s approval came Thursday, Oct. 25, in meanor mislead you. The thousands our goal, we need them to go online product line, including hot cups New York City. One remaining box to check before of Mid-Southerners who will be and register,” she said. “Sleep in for and lids, from which 20 percent of everything is finished is for Pera to formally com- wearing it this weekend are strong, the Cure is great for people who can’t profits are donated to breast cancer plete the sale with current owner Michael Heisley, resilient and determined. And they make the race.” research and awareness. something that could take two to four more days, by are waging a fierce battle against The deadline for online registra- As with all of Komen Memphis- one estimate. breast cancer. tion is Friday, Oct. 26, at komen- MidSouth’s efforts, money raised NBA Commissioner David Stern praised Pera, a Since its inception in 1983, the memphis.org. Registration for Sleep during Race for the Cure will support communications technology businessman who has Komen Race for the Cure has grown in for the Cure, designed for people community breast health programs split his time between Silicon Valley and Asia, in a from one race with 800 participants who can’t make the race but would throughout the region. To date, the statement released after Thursday’s vote. in Dallas to more than 140 races with like to be a part of it, also is available affiliate has invested $7.6 million in “We are delighted that the NBA’s Board of Gov- more than 1.6 million participants on the online registration form. providing breast cancer screenings, ernors has approved Robert Pera’s purchase of the on five continents. In the Mid-South, Joni Janis Hester, 30, senior education, support, research grants Grizzlies,” Stern said. “Robert will no doubt bring the race is the region’s largest event marketing analyst for International and treatment programs in Shelby, great energy and passion to the franchise. He has to promote awareness and raise Paper Foodservice Business, is part Fayette, DeSoto, Tipton and Tunica assembled an ownership group with very strong lo- money for breast cancer research. of International Paper’s team, IPink, counties. This year, thanks in part cal ties, and we anticipate that their commitment to This year, it has additional sig- and one of the many registrants af- to the funds raised during the 2011 the Memphis area will greatly benefit both the team nificance: Saturday marks the 20th fected personally by breast cancer. race, the affiliate added 16 more and the community." Komen Memphis-MidSouth Race for Her mother Robin, 58, is a breast counties across Tennessee and Mis- Pera still is not commenting publicly until the Cure. cancer survivor who was diagnosed sissippi to its service area. after the deal is finished with Heisley. The owner- “This affiliate was formed in at age 45. At the time, Hester was 18. Up to 75 percent of net proceeds ship group he assembled has grown steadily in the 1992, and for that first race, our goal “I learned at a young age how generated by the affiliate stays in the months since his bid formally became public, with was to get 500 women to participate important early detection is and how area. Only 16 percent covers the af- some dozen partners having been publicly identi- – back then, the race was only for breast cancer doesn’t only affect the filiate’s operations, Hare said. Any re- fied up to now and others still to be named. women,” said Elaine Hare, executive patients, it affects everyone around maining money goes to the national Partners who have joined Pera’s group include director of the Memphis-MidSouth them,” she said. “Now I want to do Susan G. Komen for the Cure Grants local businessman Billy Orgel, singer Justin Timber- Affiliate of Susan G. Komen for the what I can to help raise awareness Program to fund research. lake, former Memphis congressman Harold Ford Jr., Cure. “We ended up with 1,753 par- and support others in treatment. I “Out of the more than 1 million AutoZone Inc. founder J.R. “Pitt” Hyde, investment ticipants and raised enough money also want to celebrate the survivors women in the Mid-South, one in ev- firm president Duncan Williams, financier Staley to give $30,000 in grants.” and honor the memory of those we ery eight of them will develop breast Cates and Denver Broncos quarterback Peyton Since then, the numbers steadily have lost.” cancer in her lifetime,” Hare said. Manning and his wife, Ashley, a Memphis native, increased. Last year, more than Hester says she is fortunate to “One in eight is too high a number.” among others. 18,600 registrants raised $1.1 million. work for a company that actively The Memphis-MidSouth Komen A handful of other investors from both inside Although Hare had hopes of beating supports the cause. As a presenting Race for the Cure begins at 8 a.m. and outside Memphis still have not been named those numbers with at least 20,000 sponsor of Race for the Cure, Inter- Saturday, Oct. 27, at The Shops at and could push the total number of investors in participants to coincide with the national Paper donates a minimum Saddle Creek in Germantown. Pera’s group up to about 20, according to a source.

Nonprofit Success Can Be Found in Details

Part two of a three-part series on pro- the closing remarks. It has heart and data quainted with someone at a foundation or summarizing the request – how much posal writing references to back up the work. The pro- corporation. The board member can have is requested and for what. Other ele- posal does not create a conversation – in person ments include a paragraph describing the Need money? Write a grant barriers for the reader. if possible – with their organization – the year and reason the proposal. If only life in the nonprofit sector For example, informa- contact to tell them about organization was founded, who founded it, were so simple. tion is presented in the the great work of the its mission, and programs or services pro- Writing a proposal to a foundation is about order it is requested, organization. The board vided; description of the need the services much more than writing. Our conversation so if readers are using member plans the key address; how your organization addresses with professional proposal writer Marlene an evaluation check- points of the conversation this need and why your organization is Lynn points out the important subtleties list, they don’t have to in advance with a devel- successful; key accomplishments/out- involved in securing foundation grant search through your MEL & Pearl shaw opment staff member, comes your organization has achieved in funds. For example, a well-written proposal proposal for the infor- FUNdraising so the board member addressing the need; and a closing state- is not necessarily a funded proposal. We mation. The reader can understands the founda- ment that includes the name, phone num- asked Lynn about the difference between see that you have done your homework, tion’s funding priorities and can tailor the ber and email of who may be contacted for the two. and that your work and their priorities are conversation to fit this context. The board more information. Always thank them for “A funded proposal sticks out from a strong match.” member can then report back on the level considering your request.” the crowd. It provides a track record of To learn more about creating a funded of interest the foundation has in a pro- Next week we will cover foundation re- success in addressing problems that the proposal, we asked Lynn what role can posal, and instructions on when to submit search, trying to make your nonprofit “fit” funder has identified as a priority. It high- board members play in creating a climate a proposal or Letter of Interest (LOI), how a funder’s guidelines, and how and when lights what is unique about your organiza- where a foundation requests (or wants to much to ask, who to send it to, and other to follow up. tion. It is easy to read with information receive) a proposal. related questions. Visit Lynn at https://sites.google.com/ that flows from the opening statement to “Sometimes a board member is ac- “An LOI will begin with a sentence site/mlynnbaptista. 12 October 26-November 1, 2012 www.thememphisnews.com

sports

BASKETBALL Grizzlies Bench Play, Outside Shooting Finally Hitting Stride

Team will rely on newcomers Ellington and Bayless to drain shots from deep for successful season

DON WADE | Special to The Memphis News the regular season because Coach Lionel they displayed in their 115-100 victory over ers per game ranked 27th out of 30 teams. Hollins has said he’s giving the team’s key Orlando on Wednesday, Oct. 24, Bayless This preseason, the Grizzlies have hit 40- players the night off, or at least most of the and starting point guard Mike Conley will of-100 3-pointers (40 percent). night off. have more room with which to operate. Yes, preseason defense can be almost on’t make too much of the pre- But as center Marc Gasol said, “So far, The Grizzlies knocked down 10-of-16 non-existent. Still, there is reason to season. That’s a mantra that has so good.” 3-point shots (62.5 percent) and that was believe this will be a better shooting team – Dbeen well-tested. But also, don’t Bayless says he is still learning the play- with Josh Selby jacking up a couple of er- Conley’s added bulk seems to have helped make too little of the preseason. ing styles of his teammates and vice-versa. rant 3-pointers near game’s end. his long-range accuracy – and the team’s The Memphis Grizzlies finally ad- “But that’s what the preseason is for,” Rudy Gay was 4-for-4, Conley contin- apparently improved outside game could dressed their need for more outside he said. ued his torrid preseason 3-point shooting have a ripple effect. shooting – enter Wayne Ellington – and a For example, Bayless knows he has by going 2-for-2 (11-for-14 for 78.6 per- “Teams have got to respect the perim- viable backup point guard – welcome Jer- two great options in the post in Gasol and cent), and Ellington hit both his 3-pointers eter now,” said Randolph. “They can’t fall ryd Bayless. Through the team’s first seven power forward Zach Randolph. They can against the Magic. off in my lap when I’ve got the ball or fall preseason games, the newcomers have do similar things, Bayless says, but they “It’s starting to get there,” Ellington said back in Marc’s lap when he’s got the ball.” been adjusting to their new team and the like the ball on different spots on the floor, of his outside shot, “and at the right time.” Opponents will need to see the Griz- team has been adjusting to them. The final in different spaces and situations. The Grizzlies shot 32.6 percent from zlies shoot better over a longer period preseason game, on Friday, Oct. 26, will If the Grizzlies can even come close to 3-point range last season, tying them for of time in games that actually count, of bear no resemblance to what is to come in approximating the hot outside shooting 25th in the league. Their 4.2 made 3-point- course, but if that happens …

Cardinals Said Much More Than Pujols

When manager Tony La Russa in the regular season and making the NL finally woke up. retired and slugger Albert Pujols went All-Star team, has proven emotionally They also need to add at least one panning for gold in California, there fragile. more significant arm to the starting was no reason to expect the St. Louis Ultimate gamer Chris Carpenter rotation – maybe that’s one of their Cardinals’ 2012 season would stop just had nothing in Game 6 and Kyle Lohse hard-throwing relievers, maybe it’s top a game short of the World Series. THE PRESS BOX – six hits and five earned runs in just prospect Shelby Miller – and maybe But against all reason that’s what DON WADE two innings in Game 7 – had even less it’s a free agent or someone acquired happened. and, like Lynn, did not look ready for the in a trade. Lohse is a free agent and Mike Matheny was solid, if certainly saying what a nice year it was – grateful moment. unlikely to return. Carpenter may be not perfect, as a first-year manager. for the unexpected postseason run. The Cardinals made four errors in in the twilight of his career and Jamie And as with recent Cardinal teams, But gratitude is a tougher sentiment the last three games en route to becom- Garcia’s health is a question mark. That including the 2011 edition that won the to embrace given that the Cardinals ing just the 12th team to squander a 3-1 leaves Adam Wainwright and a lot of World Series, this team staved off elimi- held a 3-1 lead in this series and had a series lead. Small consolation: In 1996 uncertainty. nation time and time again. chance to close it out at Busch Stadium. when they blew a 3-1 NLCS lead to At- A proven bat or two for the bench The Cardinals took advantage of At that stage, everyone wants more. lanta, they were outscored 32-1 over the wouldn’t hurt, either. MLB adding an additional playoff spot And from that point forward – or maybe last three games; this time it was 20-1. In the end, the Cards played well the in each league and won the National we should say backward – the Cardinals The St. Louis Post-Dispatch’s Bernie hand they were dealt this year. Despite League’s first wildcard game over the did not hit, pitch or field like a major- Miklasz made an excellent point in a injuries and the loss of two future Hall- Atlanta Braves. Then, though twice league team. post-mortem column: of-Famers, they once again got to play down to their last strike, they rallied for Batters – let’s not call them hitters “Slumps aren’t scheduled. Slumps for a long stretch in October. four runs in the ninth inning of Game because there was precious little hitting aren’t written into a calendar in ad- If nothing else, it’s more than Albert 5 of the Division Series to defeat the – compiled a .190 average and struck vance. Slumps just happen, whether it Pujols can say. Washington Nationals and advance out 27 times. be the third week of June, or the third to the National League Championship Starting pitchers – maybe we week of October.” Don Wade’s column appears weekly Series. should say opening-game throwers – But flaws in the postseason also in The Daily News and The Memphis That’s the stuff of memories. Truth failed to last even four innings. In the provide direction for the offseason. The News. He and Jon Albright host the Jon & is, had the San Francisco Giants turned case of Lance Lynn in Game 5, his own Cardinals need to go younger and better Don Show on Sports 56 AM and 87.7 FM back the upstart Cardinals in a quick throwing error contributed greatly to his at shortstop – say goodbye to vet Rafael from 6 p.m. to 7 p.m. Tuesdays through five games, Cardinal loyalists would be demise. Lynn, despite winning 18 games Furcal and rookie Pete Kozma, who Thursdays. www.thememphisnews.com October 26-November 1, 2012 13

sports

“Teams will have to prepare differ- ently,” Gay said. Bayless is happy to see the good shoot- ing, but sounding like a Lionel Hollins echo, reminded, “Defensive pressure leads to open shots.” True enough. The Grizzlies’ opponents averaged 17.1 turnovers per game last Teams have got season; that was the highest in the league. to respect the Their 9.6 steals per game led the league, too. perimeter now. They In the annual survey of NBA gen- can’t fall off in my lap eral managers, Tony Allen was voted the when I’ve got the ball league’s best perimeter defender. When or fall back in Marc’s the athletic Darrell Arthur returns from “ a leg injury – he’s a few weeks away – the lap when he’s got defense in the front court expands and the ball.” suddenly becomes more dynamic. – Zach Randolph “Darrell gives us another dimension,” Grizzlies forward Gasol said. “He can stay in front of any- body in the league.” The Grizzlies are hoping the same is true for them as a team. Gasol says they have had their toughest training camp and the bench is deeper than it has ever been.

AP Photo: Lance Murphey Nothing has been accomplished yet, Guard Jerryd Bayless is part of what he understands that, but an already good should be an improved bench and 3-point team appears poised to shoot better, de- shooting for the Memphis Grizzlies. He fend better, be better. and Wayne Ellington will be called upon to “We are working toward the right di- assist the team’s core in outside scoring off the bench. rection,” said Gasol, “that’s for sure.”

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Contact Wendy Greenlaw at 901.528.5273 or [email protected] for a quote or to learn more! 14 October 26-November 1, 2012 www.thememphisnews.com

COVER STORy

A Seasonfor MORE

Photo: Lance Murphey Memphis players cheer their teammates to victory over Marshall during the championship game of the Conference USA tournament at FedExForum earlier this year. How far can the Tigers go this season? That will be determined by a solid group of returning players and some key freshmen, who combine to give Josh Pastner his best roster yet.

Grizzlies, Tigers look to reach new heights in 2012-2013

Story by DON WADE : Special to The Memphis News

ast season, the Grizzlies made the started practice for this season. No. 2 Louisville and No. 17 Missouri. playoffs and even earned home- “A horrible end to the season,” said junior Tarik Pastner says the early games matter so much court advantage for their first-round Black. because “bottom line, the conference is not going series against the Los Angeles Clip- And now both teams are set to embark on this to get the credit it deserves.” pers. season’s journey. Players and coaches from both Point guard Joe Jackson is even blunter about Last season, the Tigers made the teams talk of “looking good on paper,” an almost the early schedule, which also includes a Dec. 15 NCAA Tournament after winning throwback phrase given that today many fans have home game against Louisville and a Jan. 4 trip to the regular season and tournament Conference only checked rosters, standings and statistics on Knoxville to play the Vols. USAL championships. their laptops and cell phones. “That’s gonna tell it all,” Jackson said of the pre- Last season … Wherever they keep tabs on their teams, they conference schedule. Guarantees nothing about this season. are bound to have probing questions. Here are a few Still, by any objective standard, the Tigers and answers, what you need to know heading into the Who has more pressure to have a great Grizzlies had successful 2011-2012 seasons. Yet it’s season. season – the Tigers’ Adonis Thomas or the also true that each could have done, maybe even Grizzlies’ Rudy Gay? should have done, more. Every team wants a good start, but which Both are supremely talented small forwards “We owe the fans one,” Grizzlies center Marc Ga- team needs a good start worse – Tigers or and had Thomas not suffered an ankle injury last sol said as the team started training camp. “We do.” Grizzlies? season as a freshman he would have been a first- No argument here. The Grizzlies had a 27-point Last season the Grizzlies and every other NBA round NBA pick and probably playing against Gay second-half lead in Game 1 of their first-round team played a shortened season and compacted this season. Western Conference playoff series against the Clip- schedule because of a lockout. Early games were “Sometimes I played the four and that’s not the pers. They lost that game, 99-98 at home, and also uneven, rough. And as guard Mike Conley said position I’ll play in the NBA,” Thomas said. “This dropped Game 7 at FedExForum. recently, “It’s nice to look at the schedule and see year they (the pro scouts) will see me more on the Opportunity earned, opportunity squandered. space between games.” wing, at my natural position.” The University of Memphis earned an automat- So it’s a smoother start already. And with an 82- Thomas needs a big year for his draft status. ic NCAA bid by winning the C-USA Tournament in game schedule, an 0-4 stumble from the gate or a The Tigers need a breakout season from him for dominating fashion at FedExForum. But when the 2-6 start doesn’t have to ruin the Grizz’s season. their NCAA seeding. Thomas impressed with his tournament committee handed out seedings, they For the Tigers, however, who are No. 16 in the outside shooting stroke and won the Memphis plainly told the Tigers and coach Josh Pastner they coaches’ preseason poll, a good start is essential Madness 3-point shooting contest. Yet Pastner were not impressed. and a great start could be a season-changer. Mem- makes clear that the team needs many other things With no Top 25 victories, the Tigers were given phis plays in the Battle 4 Atlantis Tournament in from Thomas. an 8 seed and drew No. 9 seed Saint Louis, coached the Bahamas in late November. “Rebounding, assists, defense … I told him, by the accomplished Rick Majerus. The Billikens They first play Virginia Commonwealth, which I don’t want you living and dying with the jump made the Tigers play their slow-down game and would be ranked 27th in the poll, and their next shot,” Pastner said. won 61-54. game will be against either No. 8 Duke or Minne- Thomas adds leadership to that list, noting “Tough match-up,” Pastner said as the Tigers sota. The stacked tournament field also includes that’s another thing the NBA scouts will want to see www.thememphisnews.com October 26-November 1, 2012 15

in the talented sophomore. mentality in the post. ers’ names off their jerseys last season. Selfish- Grizzlies coach Lionel Hollins, while well “Shaq definitely can help us on the glass,” ness, if not always visible, was never far from the aware of Gay’s ability to score, also wants more Pastner said. surface. Will Barton, last season’s best player, never from his most dynamic player. Goodwin said he has gone from 275 pounds figured out how to make other players better. “Rudy has playmaking ability, he can rebound, to 260 and credits the Tigers’ Frank Matrisciano, Black, Jackson and Thomas all talk about he can defend the best player on the court,” Hol- the “Life Changer,” for “trimming the fat.” Ferra- needing to provide leadership, with Black saying, lins said. kohn Hall is the returning starter, but that status “I have to have the courage to speak up” and hold Gay says he wants to do more, too, but with is far from assured as Pastner seems to take extra people accountable. Gasol and Zach Randolph in the paint, he knows delight this preseason in saying all starting jobs If the Tigers struggle with their chemistry early he doesn’t have to always carry the load. are open. and don’t beat some good opponents, they could “I don’t have to be the man every night,” Gay What are the goals? dissolve into a team that has to win the C-USA said. Although in less robust terms than in the last Tournament just to make the NCAA field. Maybe not, but in the postseason his game two seasons, the Tigers still speak of aiming for the must reach another level. Final Four and they won’t say a national title is out What does a dream season look like? of the realm. The Grizzlies rally from a 27-point deficit at Who are the new players most likely to “That’s good to shoot for,” Jackson said, “but Los Angeles and beat the Clippers in Game 1 of make a huge impact? I don’t want to get into that right now. Take it one their playoff series and go on to sweep. Catch- The Grizzlies made some offseason moves. day at a time.” ing an overconfident Lakers team in the second Getting Dwight Howard wasn’t one of them. Said the Grizz’s Conley: “Our expectations are round, they win in seven games when Dwight “I’d have taken him,” Hollins said with a smile. as high or higher for ourselves as what everyone Howard and Kobe Bryant fight over the ball in the What they did get was an experienced backup else expects from us.” final seconds of Game 7. point guard in Jerryd Bayless and a shooting guard Having reached their first Western Conference with outside shooting touch in Wayne Ellington. What are the potential problems? Finals, All-Star Rudy Gay outscores Oklahoma Rookie guard Tony Wroten has impressed with his Aside from injuries, a new season always City’s Kevin Durant in five of seven games and athleticism, but it is Bayless and Ellington who are means a new identity must be formed and main- the Grizz advance to the NBA Finals to play the being counted upon to fill long-time voids. tained. defending champion Miami Heat. “That’s what I do best,” Ellington said of The most cynical Grizzlies observers still ques- The Tigers reach the finals of the tournament knocking down shots. “I’m not afraid to say it.” tion if Gay and Randolph can play together over in the Bahamas, beating Duke on the way and If Bayless proves capable, Conley will finally the long haul, a notion Gay called “insulting.” pushing Louisville. Then on Dec. 15 at home, they get normal rest and that may allow him to be the Hollins has to figure out rotations with the get revenge on their old rival. same offensive threat in the second half of games addition of Bayless and Ellington. When Darrell They run through the rest of the regular season that he has been in the first half of games. Arthur returns from injury in a few weeks another with one convincing victory after another, becom- For the Tigers, all eyes are on junior college adjustment will have to be made. ing a strong rebounding team. Thomas looks like transfer Geron Johnson. Under the best-case sce- The starters had to play big minutes last a high lottery pick and the TV pundits say Jackson, nario, Johnson pushes Chris Crawford at shooting season, but this year the challenge may be keep- Johnson and Crawford give the Tigers a three- guard and takes his starting spot sooner rather ing everyone happy if Hollins determines he can headed monster in the backcourt. than later. Johnson was considered perhaps the spread time more evenly. Tony Allen is well aware The NCAA Tournament Committee rewards best juco talent in the country. of the fact there are times Hollins simply does not the Tigers with a 3 seed and they advance to the But Johnson also had off-the-court troubles, trust him to make good decisions. That storyline Elite Eight where they play an underachieving 2 being booted from two junior colleges and even could take on more of a life if Hollins gains even seed from Kentucky coached by John Calipari. being arrested for attempted burglary while in more confidence in Quincy Pondexter and El- They beat the Wildcats by a single point when high school. Pastner has him on a daily curfew. For lington. Calipari’s team fails to foul the Tigers with a few his part, Johnson says he has turned the page on The best Tigers players are probably almost as seconds remaining and Crawford hits a ridiculous- his past through “prayer” and he predicts he and focused on the NBA as the Grizzlies are. If Thomas, ly long 3-pointer. Afterward, Calipari says he told Jackson will mesh beautifully on the court. Jackson, Black and Johnson believe that outsized the players to foul and he doesn’t understand why Freshman power forward Shaq Goodwin, of At- team success will bring the exposure they want, they didn’t. lanta, may play football for the Tigers next season, the Tigers should be fine. The Tigers return to the Final Four and the but for now Pastner wants to see a football-like But there was a reason Pastner took the play- banner never has to be taken down.

Memphis Grizzlies cen- ter Marc Gasol is a key member of the team’s “core” group along with Mike Conley, Rudy Gay and Zach Randolph. The team looks to avenge last season’s disap- pointing playoff loss to the Clippers.

AP Photo: Danny Johnston 16 October 26-November 1, 2012 www.thememphisnews.com

special coverage

special emphasis: OFFICE & INDUSTRIAL REAL ESTATE

CAPITAL INFLUX SARAH BAKER | The Memphis News Industrial sector sees notable uptick in institutional buyers

apital is finally being set free American Realty Capital Trust III Inc.’s Branch earlier this year. in the Memphis industrial $52.4 million purchase of the Williams- Meanwhile, New York-based DRA market, with opportunities on Sonoma distribution center in Olive Advisors LLC in June bought Southpoint both the buy and sale side of Branch. I and II on Shelby Drive for $12.3 mil- investment deals. In addition, Denver-based Industrial lion, as part of a larger portfolio purchase Nearly $200 million has Income Trust Inc. (IIT) bought various from Houston-based Weingarten Realty been spent since June, as pub- lots in Memphis Distribution Center for We were very disciplined Investors. Prior to that acquisition, DRA lic and private institutional $24.3 million in July. on any new developments, had only owned office and multifamily buyers alike make large plays. Lamberson called Memphis one of the we allowed the market to properties in Memphis. “The institutional capital in this mar- “hotter markets in the country right now” catch back up and now we’re One of the main drivers of this influx Cket really likes our industrial – the 32-foot compared to cities of similar size. of capital into Memphis’ industrial facili- seeing the fruits of that.” clears, they like the SFR sprinkler systems, “We were very disciplined on any new ties is because commercial real estate they like our tenant basis,” said Johnny developments, we allowed the market to – Johnny Lamberson is becoming a larger piece of investors’ Executive vice president,“ CB Richard Ellis Memphis Lamberson, executive vice president of catch back up and now we’re seeing the portfolios, said Kemp Conrad, principal of CB Richard Ellis Memphis. “We’ve got fruits of that,” Lamberson said. “We’re Cushman & Wakefield/Commercial Advi- good developers, we’ve got good market starting to see cap rates drop and price sors LLC. He projects asset allocations by fundamentals with the rail service, the per square foots going up, and we see that million in July from TIAA Realty Inc. investment managers to increase from water, the air and FedEx obviously being trend continuing.” The deal came on the heels of the historical levels of 5 to 10 percent of total here.” Private equity funds are also active. Dallas-based Hillwood’s acquisition of portfolio size to 25 percent. Real estate investment trusts (REITs) Hillwood Investment Properties, in a joint Pilot Distribution Center warehouse for “Real estate is now seen as more of a have entered the Memphis industrial venture with Brookfield Asset Manage- $7.5 million, as well as its $13.5 million mainstream investment,” Conrad said. scene, as evidenced by this year’s largest ment, bought five Class A buildings in purchase of the former Mazda North “Instead of investing in large cap stocks or and most recent deal, New York-based Southpark Distribution Center for $37.3 America Inc. distribution center in Olive international companies, they’re shift-

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allowing the San Francisco-based REIT to reallocate funds to core markets. Since the disposition, Prologis’ local portfolio is fully leased. “All the time, you have companies that are changing strategies,” Conrad said. “While you have some institutions or owners who have been here for several years, now they may have realized their return, leased their product up. They’re ready to take those gains, redeploy that asset, and now, you have buyers that want to buy fully occupied buildings.” To that end, the deal provided Exeter with some 2 million square feet in Class B properties at an attractive price point. “The B market has definitely picked up and been strong for some owners,” said Andy Cates, executive vice presi- dent brokerage for Colliers International Memphis. What’s more, cap rate compression in coastal and major markets have resulted in buyers transitioning more capital to secondary markets like Memphis. “The fundamentals of our market have allowed people to come in, find some good buys, and made it very com- Photo: Lance Murphey petitive,” Cates said. New York-based American Realty Capital Trust III Inc. paid $52.4 million for the Williams-Sonoma distribution center in Olive Branch, More capital appears to be on its way. just one example of real estate investment trusts (REITs) spending institutional capital on local industrial properties. Exeter and IIT are reportedly in the pro- ing almost a quarter of a total allocation Another private equity firm expanding trial buildings from Prologis Inc. for $40 cess of buying more. of a portfolio … into riskier asset classes its local industrial presence is Pennsylva- million. Lamberson said Exeter and IIT “may where there’s yield and where you can get nia-based Exeter Property Group, which The deal was part of a larger $80 be two of the largest players industrial- a little bit better of a return.” in June bought 10 Memphis-area indus- million asset shedding from Prologis, wise in the country right now.”

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Try to Resolve special emphasis: SMALL-BUSINESS SPOTLIGHT: OFFICE & INDUSTRIAL REAL ESTATE The Unresolved So, if you are reasonably conscientious about your health, you prob- ably get dental checkups semi-annually and Connecting Tenants Keeps Firm Thriving a general physical exam annually. If all goes well, you catch and treat little problems before they become big. Maybe you should consider CHRIS MCCOY | Special to The Memphis News a similar routine with your co-workers. Think of yourself as one link in a supply chain that must be functioning effectively to ensure your cus- or 11 years now, Acker out the distinction between tomers get what Robison Realty has commercial sales and com- they want from Fbeen helping busi- mercial leasing. your business. nesses around the Memphis “When people find out For discussion area with their commercial I’m a commercial broker, purposes, let’s as- real estate needs. they always ask me, ‘Have sume that you’re The boutique firm, you had any sales re- founded by Michael Robison cently?’” he said. “Well, the chris cRouch somewhere in SMART STUFF the middle of the in 2001, handles the full bread and butter of com- 4 WORK chain. Therefore, gamut of commercial bro- mercial real estate is not things related to kerage services, represent- really sales, unless you’re satisfying your customers happen before you ing landlords and tenants, in investment sales, which get involved in the fulfillment process and purchasers and sellers in the are generally done by larger things happen after you do your part. Com- office, industrial and retail brokerage firms. The bread mon sense dictates that one or more weak sectors. and butter is leasing.” links in such a chain can and will cause signifi- Though he is firmly Robison said his spe- cant problems. Unresolved negative issues entrenched in the real estate Photo: Lance Murphey cialty is connecting com- or feelings between two members of a supply profession today, Robison Michael Robison founded Acker Robison Realty in 2001 after mercial property owners chain can easily create some incredibly weak got his start in the working working in cotton and for FedEx. His firm specializes in com- with the right tenants, and mercial real estate brokerage and consulting for all sectors. links. At a minimum during your periodic world in a very different vice versa. And it has kept checkups, look at the person responsible for capacity. him thriving in a slumping ing to an economic development post at marking. the step immediately before you in the chain “I worked on Front Street in the cotton business for about 10 years,” he the Greater Memphis Chamber, where, “I just try to be honest and sincere and the person who handles the next step in said. over the course of three years as the and explain my expertise and describe the chain to see if your working relationship But when the cotton industry expe- Collierville liaison, he oversaw that city’s what I can do for them,” he said. “But is healthy. If it is, great – you get a clean bill of rienced a downturn, Robison decided growth. you have to get them to open up and health and all is as it should be. to make the change to real estate, and “Then I decided it was time for me tell you what their needs are so you can However, anyone who has participated in a in 1989 he left Memphis for Florida. to hang my own shingle and move out fully understand.” supply chain for any period of time knows that His stepfather worked for a real estate on my own,” Robison said. “It was pretty In the future, Robison said he hopes unresolved issues frequently fester and create consulting firm in Fort Lauderdale, and frightening to give up a regular pay- to expand his company by representing negative feelings between co-workers. And it’s Robison joined him there to learn the check.” more tenants as the market improves. human nature to default to the “I’ll just ignore business. But ultimately, the 2001 decision to “A lot of people miss out on ad- it and maybe it will go away” strategy. If you Two years later, he returned to be his own boss proved to be the right equate representation,” he said. “When truly think that is the case, then ignore it. If Memphis to ply his trade, and by 1993, one, and Acker Robison has remained you try to explain it to them, it’s much not, think about it in terms of the reputation he was employed with FedEx’s prop- successful through the economy’s ups like if you’re trying to buy a house, you you want to foster within your organization. erties department. At that time, Fred and downs. can go stumble around yourself looking Do you want to be known as someone who Smith’s giant was expanding, and that “Real estate is a tough business,” Ro- for properties and read the paper. But it avoids tough issues and leaves them unre- kept Robison busy. bison said. “You have to go sell yourself behooves you to have an agent who has solved, or someone who faces such issues “I was involved in both the World to someone, generally, to get a listing access to a database of available proper- fair-mindedly and head on? Tech Center project and the corporate or a representation agreement. But at ties and understands the market. Keep in mind that always getting your own headquarters,” he said. “Most brokers that point, you haven’t yet made a dime. “Having grown up here, and being way and resolving interpersonal problems don’t have the luxury to work for a big You just have the opportunity to make a in this business for close to 25 years are usually mutually exclusive goals. Genuine corporation and work on deals of that commission. So, the field of real estate is now, I’ve got a good handle on what the resolution requires that both parties embrace size. It was a very educational experi- unique in that respect.” market rates are; what you can expect to a give-and-take attitude. Marriages improve ence for me.” Even though the licensing agencies pay, rent-wise; what kind of concessions when both spouses adopt the attitude By 1998, he had learned all he could do not make a distinction between resi- and incentives are available out there; that any perceived “give-up” when working from working at FedEx and decided it dential and commercial, Robison noted and what the competition is offering, through a rough spot is not really a give-up was time to move on. He spent a brief there are vast differences between the as well as awareness of where the heavy to the other partner (as in, they won and I time at Trammell Crow Co. before mov- two disciplines, and he also pointed traffic counts are for retail.” lost), rather, it is an investment in the ongo- ing health of the marriage (in other words, the bigger-picture entity) that will ultimately benefit both partners. Think big picture and treat any perceived give up to co-workers as a Don’t wait for the next time your bank’s fees similar investment. go up and their service lets you down. In such situations, waiting for the other person to admit their wrongness and ac- Let me show you how we can make banking your knowledge your rightness is an ineffective most productive business relationship. strategy. Treat it like any health issue and stay focused on looking forward and resetting the relationship rather than re-litigating the past. 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special emphasis: OFFICE & INDUSTRIAL REAL ESTATE A Daunting Vision for Crosstown Project

SARAH BAKER | The Memphis News

o say the team behind the rede- Richardson knows velopment of the nearly 20-year- that hesitation all too Tvacant Sears, Roebuck & Co. well. He stopped count- Retail and Catalog distribution facility in ing the number of meet- Midtown’s Crosstown neighborhood has ings he had with tenant their work cut out for them would be an prospects last year at 220. understatement at best. “I often say that I felt The 85-year-old art deco building at like I was beginning to 495 N. Watkins St. has been robbed of grow the third eye that its copper and requires remediation of people looked at me as if asbestos, lead paint and glazing com- I had,” he said. “It’s just pounds. But that doesn’t begin to com- perseverance. If you have pare to the building’s daunting size of 1.5 a vision, it’s just a matter million square feet. of time before people “In a traditional commercial real catch it if you believe in.” estate sense in looking at the capabili- Richardson co- ties of getting the kind of return that you founded Crosstown Arts, would want to get, it’s almost impos- a nonprofit to accelerate sible to redevelop this building,” Todd arts-based community Richardson, University of Memphis art and economic develop- history professor and project leader of ment in the neighbor- the Sears Crosstown reinstatement, said hood, in 2009. on the Sept. 28 episode of the WKNO-TV It was less than two program “Behind The Headlines.” years after the build- Memphis News File Photo: Lance Murphey The show can be found at video.mem- ing was bought by phisdailynews.com. In an appearance on the WKNO-TV program “Behind The Headlines,” University of Memphis art history Crosstown LLC – a local professor and Sears Crosstown project leader Todd Richardson talked about the challenges the group “The question from the beginning faces. Despite these hurdles, the project is moving forward thanks to help from numerous stakeholders. investment group that when we first started the feasibility study has kept a meticulously two and a half years ago was … not neces- letter of intent to occupy 600,000 square similar out-of-the box vision for a district low profile since the purchase, claiming sarily the state of the building, because feet of the building: ALSAC, Church in Raleigh, N.C.” its intentions have always been a “purely there are plenty of buildings in Memphis Health Center, Crosstown Arts, Gestalt “I was able to work with him from the civic purpose.” that were built around the same time that Community Schools, Methodist Health- beginning and really just see what pas- “Their vision was to buy it and donate have been redeveloped. It’s the size.” care, Memphis Teacher Residency, Rhodes sion, commitment and a big vision can do it and to help make something positive “Behind The Headlines” is hosted by College, St. Jude Children’s Research for a city,” Wilson said, adding later in the happen for the city,” Richardson said. Eric Barnes, publisher of The Daily News, Hospital and The West Clinic. show, “There are a lot of things that are “They recognized the importance of it, and can be seen on The Daily News On- “The beauty of what we have at atypical about this project. We’re just tak- not only in terms of an architectural icon, line, www.memphisdailynews.com. Crosstown is really a combination of two ing it incrementally as we go and refining but also from the perspective of the his- Memphis’ Sears building was one things,” said McLean Wilson, vice presi- as we go.” tory of Memphis as the nation’s distribu- of 10 that were built across the country dent of Kemmons Wilson Cos. “One is Frank Ricks, principal with LRK Inc., tion center.” between 1910 and 1930. Since then, three the tenant mix of the arts, education and has also been involved with larger-than- But, as with other revitalization proj- have been demolished, three are empty health care. The second is the historical life undertakings that many deemed ects like The Pyramid, Overton Square and four have been redeveloped. nature of the building, which allows us to impractical on the front end, like Henry and the Chisca Hotel, the city could be When Sears was at its height, 1,500 really go out and explore various public Turley’s Harbor Town in the 1980s. asked in the future to contribute fund- people worked in the building. Instead of and private funding sources. There’s a “Just for the average person, they ing. A concept study is being compiled by re-creating that daytime population with balancing effect and an equalizing effect didn’t feel that was a viable alternative,” LRK in association with Canadian-based an anchor tenant and satellite businesses, with respect to some of the funding that Ricks said. “I think with the scale of the design firm DIALOG, Tony Bologna of the idea is to create a “vertical urban vil- we can receive from the federal govern- Sears building and the fact that it has Bologna Consultants LLC, and Amelia lage” that attracts up to 2,500 people dur- ment and other grants, etc.” been vacant for quite some time and the Carkuff of Carkuff Interiors. ing peak hours, supported by residential Wilson’s real estate experience condition around it, it’s just hard for some Grinder, Taber & Grinder Inc. will then units that spur activity 24 hours a day. includes spending time working on a people to imagine that you could actually cost estimate the study before the finan- Nine groups have inked a collective development “for a gentleman who had a swing the pendulum back the other way.” cial structure is built out.

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special emphasis: OFFICE & INDUSTRIAL REAL ESTATE

Seminar to Tackle Commercial Conditions SARAH BAKER | The Memphis News

of Art Auditorium, 1934 Poplar. of it to Exeter (Property Group), and they Professionals will cover Panelists and their topics are Shawn don’t have any vacancy right now – they’re The Daily News’ Commercial trends in retail, office, Massey, The Shopping Center Group at 100 percent occupied,” Cates said. “The (retail); Kelly Truitt, CB Richard Ellis Real Estate Seminar B market has definitely picked up and industrial and Memphis (office); Andy Cates, Colliers WHEN: Thursday, Nov. 1 at 3:30 p.m. been strong for some owners.” International (industrial); and Jimmy Meanwhile, Truitt will be discussing multifamily sectors Ringel, Makowsky Ringel Greenberg WHERE: Memphis Brooks Museum of Art the office market from a national perspec- Auditorium, 1934 Poplar Ave. (multifamily). tive, with a comparison of Memphis to hile many commercial real Massey will brief the audience on REGISTRATION: $25 to register at www. some peer cities. He’ll also tackle current memphisdailynews.com/seminar estate professionals would like retail developments from Overton Square conditions and W to forget about 2011 altogether, to new boutiques to the market, such as “may go out on a limb and make a celebrating increases in 2012 is necessary Lululemon Athletica Inc. and The Orvis been constructive as well. In fact, indus- projection or two.” for morale. Shelby County experienced Co. He’ll also touch on consumer trends trial sales have shown the most im- Truitt said there hasn’t been any con- the most second-quarter sales this year and how it affects bricks and mortar real provement of all commercial real estate siderable movement in the office market since the second quarter of 2008, and the estate. property types, with Chandler Reports because there hasn’t been a significant highest quarterly sales revenue since the “Memphis has got income for people registering a 40 percent increase through amount of white collar job growth. second quarter of 2007. to shop,” Massey said. “People are rec- August compared to the same period last The program will begin at 3:30 p.m. Through August, commercial sales are ognizing that in certain categories, we’re year. and will last about 90 minutes, including up 2 percent and average sales prices are under retailed.” “I get an inquiry about once every two a question-and-answer session that will up 54 percent to $1.62 million, according In addition, Massey will tackle res- days for somebody wanting a new survey follow the presentations allowing for au- to real estate information company Chan- taurants that have committed to the area of Memphis for industrial space,” Cates dience discussions with the presenters. dler Reports, www.chandlerreports.com. in recent times, such as Taziki’s, Huddle said. “Sometimes you go at least a month At the conclusion of the seminar, a What’s more, year-to-date commercial House and Panda Express, and how without getting those kinds of calls. It’s wine-and-cheese mixer will be held in the foreclosures are down 16 percent and the “Memphis has become a foodie city.” definitely showing up.” museum lobby for additional conversa- average foreclosure amount is down 50 “The reason food is expanding is they Cates will give a quick overview of tion and networking. The cost is $25. percent. can’t sell it over the Internet,” Massey the market, including its size and how To register, visit www.memphisdaily- Real estate professionals will take a said. local brokers define it, in order to “really news.com/seminar. look at pressing issues like these when He’ll also zero in on “hot markets,” help people understand how industrial Inquiries can be directed to The The Daily News hosts its second annual like Poplar Avenue and Mendenhall Road, Memphis really is.” Then he’ll talk about Daily News’ marketing manager Donna Commercial Real Estate Review & Fore- Southaven, Union Avenue, and Hacks “some of the exciting stuff that is happen- Waggener, at 528-8122 or dwaggener@ cast Thursday, Nov. 1. Cross and Winchester roads. Overall, ing,” like what different values for Class A, memphisdailynews.com. The seminar, sponsored by Magna Massey said, “it’s still a tenant market B and C properties are selling for. Bank & Evans Petree PC, will be held at where the tenants are driving deals.” “Using Prologis as an example, they Chandler Reports is a division of The 3:30 p.m. at the Memphis Brooks Museum Activity in the industrial sector has had a bunch of B space, they sold a bunch Daily News Publishing Co. Inc.

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special emphasis: OFFICE & INDUSTRIAL REAL ESTATE Commercial Advisors Capital Markets To Zero in on ‘Untapped Segment’

SARAH BAKER | The Memphis News Conrad said there is a “whole of strata moving forward. than 20 million square feet of office, retail of opportunities in the market,” especially “We will always see institutional and industrial properties. About 4 million with private client deals from $5 million to ownership in this market, especially on square feet of that has been awarded to the $20 million. the industrial side, but you’re going to see firm in the last six months with special ser- ushman & Wakefield/Commercial “That’s kind of an untapped segment more and more private money to be spent vicers like MIAC Owner Corp.’s Memphis Advisors Asset Services LLC has for us from a business development in this market,” Soefker said. “You’ve got so International Airport Center, CWCapital’s Claunched a Capital Markets Group, standpoint,” Conrad said. “In bigger deals, much capital out there right now and it’s Willow Lake Business Park and Corporate a new service line to complement the there’s a whole debt/equity component, just looking for opportunities.” Park and Lenox Office Park A and B. firm’s tenant representation and third-par- which we really have even not done much Examples of that activity in the past 24 Conrad attributed a lot of that growth ty leasing and management businesses. of here at all.” months include Raleigh, N.C.-based In-Rel to Joey Bland, a court-appointed receiver Capital Markets is led by principal And because lender parameters are Properties Inc. and Santa Monica, Calif.- who joined Commercial Advisors Asset Shane Soefker, a Memphis native and for- requiring more equity, now is the time to based Hertz Investment Group LLC in the Services in 2009 to oversee distressed mer senior managing director of Cushman act. Soefker said as all of the 2006 and 2007 office sector and Loeb Properties Inc. on assets. Over the next year, Soefker said & Wakefield’s South Florida offices. Soefker loans start to mature, sponsors delever- the retail front. special servicers could account to up to will work closely with Kemp Conrad, aging are poised to be a big part of the Soefker said development deals can 10 percent of the Capital Markets Groups’ principal of Commercial Advisors’ Asset investment sales business going forward. run the gamut, from more “cookie cutter” bottom line. Services division, and Jacob Biddle on “There are plenty of sponsors and type projects to extremely complex with “Special servicers are really just now tenant advisory, directing sales and invest- owners out there, whether they have needs multiple variables. Capital Markets will be getting active,” Soefker said. “They want ment activity, strategic planning and client to refinance or new debt – there are lim- selective about the deals it gets involved to make sure they can reposition and add relationship management. ited opportunities,” Soefker said. “There’s in, and the majority will be fee-based value.” “We’re really good at tenant rep, nobody here really focusing on the smaller starting off. Commercial Advisors Asset Services property management and construction deals, the middle-market, private-client “They have a project, they need some has entertained the idea of a Capital management, leasing, and the execution type of opportunities.” sort of advisory service to help them Markets Group for quite some time, but side on investment sales, but where that For years, capital markets have been execute,” Soefker said. “We can step in and Conrad said it boiled down to securing the gap was on development services,” Con- common in the major markets like Atlanta provide that link from design to pre-con- right candidate with a specific skill set. rad said. “With Shane, it allows us … more and Tampa, where brokers focus on deals struction to development to lease up and “It was really fortuitous that Shane was sophisticated analysis that affects build- in the $20 million-plus range. Soefker said stabilization.” running South Florida for Cushman and ing valuation at exit, or how a lease deal secondary markets like Memphis are well Collectively, Commercial Advisors … coming back here to work in the sum- changes the value.” positioned to benefit from private dollars currently leases and/or manages more mer with his family,” Conrad said.

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special emphasis: OFFICE & INDUSTRIAL REAL ESTATE Medical Office Sector Enters Transitional Period

MICHAEL WADDELL | Special to The Memphis News

for construction and different trades and Health care mergers and acquisitions bring changes to real estate sector suppliers.” Truitt sees two trends happening. Non- s the trend for health care mergers South area. “So we aren’t seeing as much REIT’s Memphis portfolio with the acquisi- clinical administrative spaces are moving intensifies, the city’s medical office movement there, but on the specialist side tion of a 40,592 square foot building for away from hospital campuses and out Amarket evolves, with some private I think there is a desire to consolidate and slightly less than $11 million at 8040 Wolf into the office market to free up important practices consolidating into hospital sys- bring them in closer to the hospitals.” River Blvd. near Baptist’s East Memphis space on the campuses for clinical use. tems and others relocating to better serve One example of Whitman’s point is campus. The building is 100 percent leased “As some practices have been acquired, their patients. Integrity Oncology, which aligned with with three medical tenants. some of the location strategies have been Industry insiders believe that as large the Baptist Memorial system last year. The largest lease in the Memphis office analyzed to focus on more strategic and hospitals buy up smaller practices, it will Integrity plans to move its Briarcrest office market for the third quarter involved Bap- accessible locations to make it easier free up small medical space in the market. in East Memphis into Baptist’s new $65 tist Medical Group’s leasing 14,500 square for patients,” he said. “So we are seeing Others think that due to the influx of new million comprehensive cancer treatment feet at 965 Ridge Lake Blvd. in Boyle Invest- some users move into more visible and patients into the medical system under the center planned to be built by 2015. ment Co.’s Ridgeway Center. Baptist plans accessible medical office and quasi-retail health care reform, there will be a greater Whitman describes Memphis as one of to consolidate three of its administrative locations.” demand for more medical office space. Healthcare Realty’s stronger markets, with offices into the new location, which will be At the Germantown Village Square However it plays out, by 2020, hospital occupancy rates at its properties hovering ready for move-in by mid-November. property across from Methodist Hospital, systems will have acquired more than 90 between 85 percent and 95 percent. Cap The lease helped fuel overall net CBRE is in the process of adapting the percent of all private practices. rates are generally stable now compared to absorption of 53,981 square feet for the second-floor office space for medical use “With the primary care practices that the recession years of 2008 and 2009. Memphis office market in Q3, according to accommodate a need for more medi- are being acquired, the hospital systems “The medical office sector is not reces- to CB Richard Ellis’ third quarter Memphis cal space near the hospital. In addition tend to like to have them out in the com- sion-proof, but it’s more resistant than oth- Office MarketView report. The deal also to Baptist’s proposed cancer treatment munity closer to the patient base,” said er sectors,” he said. “It isn’t boom and bust. helped drop the area’s overall vacancy rate center, more new medical office space is Doug Whitman, executive vice president When the economy is great, medical office to 14.2 percent from 15.1 percent. possibly on the horizon in East Memphis of corporate finance at Nashville-based doesn’t take off, but, conversely, when the “Overall, activity in health care real near the Baptist Memphis campus, as two Healthcare Realty Trust, a REIT that owns economy goes poorly, medical office gen- estate has been very positive for the local new projects are rumored to be in the early a total of 424,000 square feet of space erally does better than other areas.” real estate market,” said Kelly Truitt of stages of development from Landstone primarily on or near Baptist Memorial Recently HRT of Tennessee Inc., an CB Richard Ellis Memphis. “It’s provid- Medical Properties LLC and Ford Jarratt Health Care Corp. campuses in the Mid- affiliate of Healthcare Reality, added to the ing net absorption, and it’s providing jobs Realty & Development LLC.

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special emphasis: OFFICE & INDUSTRIAL REAL ESTATE Schmitt’s Career Fueled By Outside-the-Box Thinking

JONATHAN DEVIN | Special to The Memphis News

After earning degree in anthropology and archaeology, Memphian follows mom into CRE business

ill Schmitt used to envision herself She represents only tenants who wish to The market was strong for most of Others who lost their jobs and started searching for relics of ancient world lease or buy commercial property. She said her first 10 years, but when the economy home-based businesses are also now in Jcultures but instead found her niche she’s never looked back from her decision tanked, she still found plenty of work in the market for space. helping businesses find new digs. to switch vocations, and advises others to helping her clients renegotiate their leases “We’re seeing that retail is really start- After earning a degree in anthropology think about the real world when choosing or downsize. The point, ing to move ahead right and archaeology from the University of a degree. she said, is to maintain now because they were the Memphis, Schmitt followed her mother, “Business translates into whatever you good relationships with ones who were hit the most noted commercial real estate broker Mary want it to be later on,” Schmitt said. “It’s clients and be available to dramatically,” Schmitt said. Singer, into a career in commercial real harder to get those liberal arts degrees to their changing needs over “It wasn’t as dramatic in estate. move.” time. the office and industrial “Once I got my degree I realized it Schmitt got her real estate license and Since Schmitt doesn’t market. was hard work for 13 bucks an hour,” said took CCIM (Certified Commercial Invest- represent building land- “What’s really interest- Schmitt, who joined then-CresaPartners as ment Member) and continuing education lords, she is responsible ing is I’m seeing a lot of a broker in 1999. “It just so happened that courses but chose to put off her master’s for generating her own cli- home-grown businesses I was raised listening to dinner conversa- degree to start a family. entele, many of whom are want to come into the tions about rental rates and square foot- There was a bit of a learning curve at referrals. While she works market and try again. I’m ages. It was an easy occupation for me to first, learning the ins and outs of refriger- in the office, industrial schmitt rooting for the small family get into because I knew a lot about it.” ated warehouses and clearance heights and retail sectors, office businesses. People had to Schmitt is now senor adviser with for industrial distribution centers, but she has been her main focus. think outside the box when Cresa Nashville, covering the Memphis found the challenges enjoyable. Asked why tenants necessarily need a everyone was laid off. That forces creativ- and Nashville markets, and she also is a “When you’re first starting out you’re broker to walk them through leasing nego- ity that you don’t necessarily see in times local broker for Commercial Realty Group. eager and everything is new,” Schmitt said. tiations, Schmitt said that many business when everyone has a job at a big company. owners are unprepared to tackle the details A lot of them were able to create some- of the transaction, making what is usually thing and they’re ready to present it to a a long process take even longer. larger market.” “It’s like trying to represent yourself in Schmitt expects the market to lean court,” Schmitt said. “You don’t know all toward tenants’ favor until a complete the legal jargon. You don’t know what to recovery is made, but she thinks that may think about or what to ask for. It’s the same be another year off at best. with real estate. Unless you’re doing it day The Poplar Avenue corridor, particu- Complete in and day out, you don’t know what the larly in East Memphis, remains the hot market is. You don’t know what the person spot for retail space, and Schmitt said that down the street or across the hall is pay- rental rates there have not fluctuated as ing.” much as other parts of town like Down- Security Solutions And that’s critical in today’s recover- town. For industrial space, Northeast and ing real estate market. Though the overall Southeast Memphis are prime areas. economy is becoming stronger, Schmitt Schmitt also sees opportunities in said that it’s still a tenant’s market. Land- turning former big box spaces into nontra- lords are still willing to offer concessions to ditional uses like churches or schools, even get good tenants. though that sometimes means convincing What’s more, she said, many of the the landlord that it’s a good idea. businesses that waited out the worst years “Part of the reason I love what I do is of the recession before looking for com- because it’s fun to think out of the box,” mercial space are now actively looking. Schmitt said.

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real estate & DEVELOPMENT news

community Expanding Legacy Renovations set to begin at Civil Rights Museum for first time since it opened in 1991

BILL DRIES | The Memphis News far raised $22 million. The goal is to raise the rest by the first half of 2013 and then focus on building a $13 million endow- ment fund that stands at $2 million. heir annual Freedom Awards and The museum’s renovation begins in an public forum now complete for interesting time for the chronicling of the Tanother year, leaders of the Na- movement of the 1960s and early 1970s. tional Civil Rights Museum prepare next Bernard Lafayette, a cofounder of the month for construction on the 21-year-old Student Non Violent Coordinating Com- museum that chronicles the civil rights mittee and part of King’s inner circle, was movement. among the Freedom Award winners – the It will be the first renovation of the only one of the winners who was a veteran museum since its opening in July 1991. of the movement. Some exhibits will be off limits during The museum’s foundation varies its the phased renovation work. Others will choices for the awards to reflect present move, but the museum will not be closed. leaders of international movements as well “We’ll be partially open. We’ll be open as veterans of past chapters. across the street but we’ll be engaged in It is those past chapters that are construction inside the historic Lorraine increasingly beyond the memories of Motel,” said museum president Beverly most of the visitors to the museum. It’s a Robertson, referring to the museum annex phenomenon that Benjamin Lawless, a across Mulberry Street from what was the Memphis News File Photo: Lance Murphey museum planner with the Smithsonian In- Lorraine Motel. Visitors Shoji Yajima, left, and wife, Takako Yajima, of Japan visit an exhibit chroni- stitution, noted in the late 1980s when the Flintco LLC, the general contractor cling the March on Washington inside the National Civil Rights Museum. museum was still in the planning stages. on the project, earlier this month filed a $7.5 million permit application with the city-county Office of Construction Code Enforcement for the first phase of con- struction. The motel building, which is the part of the museum being renovated, LOGISTICS was expanded after its life as a motel to create the exhibits including the preserved rooms that Dr. Martin Luther King Jr. and Mallory Alexander Debuts New Space his inner circle stayed in at the time of his assassination April 4, 1968, on the motel balcony. BILL DRIES | The Memphis News “They’ll be able to walk onto the balcony, which is the first time we’ve really ever opened it up to the public,” Robert- son said. hen Mallory Alexander Inter- Mallory Alexander did some renova- parts of town as well,” Mallory said. “We The annex, opened several years later, national Logistics moved into tion work in the 300,000-square-foot believe as long as you can run a clean deals with the immediate aftermath of W what had been the Freightliner facility, including a lighting system that efficient operation, it doesn’t really matter King’s assassination and the civil rights warehouse in the Delp Distribution Cen- activates on and off when someone is what the age of the building is.” movement after King’s death to the pres- ter in early 2011, there was much to do. in a particular section or leaves it. It is The renovations also included a re- ent. That will change somewhat during So much that Mallory didn’t get owned by BRE/Tn Industrial Properties of frigeration unit for the 1-800-Flowers.com the renovation with tours beginning in the around to marking the move until re- Atlanta, which is based in Chicago. operation where flowers are flown to and annex and ending with a walk across Mul- cently with an open house for customers “We got a favorable rate on the build- arranged for distribution via FedEx. berry and the courtyard to the balcony. and others in the business. ing,” Mallory said. “We don’t own any “They were a customer at our old “We’re going to integrate some ele- So they set up a buffet and wine bar buildings that we operate in. We lease facility at Mendenhall and we moved that ments of the historic Lorraine (Motel) into near the pallets of groceries and had a everything we operate in. Part of us mov- operation here,” Mallory said. “We built the building across the street,” Robertson drawing for an abstract painting with a lo- ing in here was switching out the lights, new refrigeration units for them – more said. “They won’t miss the whole experi- gistics theme featuring the BNSF Railway building the offices and putting in new efficient refrigeration facilities. That’s an ence. We’ll still do our orientation video. Co. logo on a rail car among the images. bathroom facilities, fencing it, putting in a ongoing day-to-day business as well.” And then they’ll follow the path, which is It is the proximity to BNSF that drew guard station, expanding the parking lot. The flowers are stored at around 34 what happened after the assassination.” Mallory Alexander to Delp, in particu- … We’re very happy with the location.” degrees and the arrangers work in about The renovations will change the look lar the needs of Evergreen Packaging, a Mallory Alexander moved out of its 43 degree conditions to keep them fresh. of the museum with many exhibits getting Memphis-based client whose massive facility on Mendenhall Road as it made With the recent cutback in Amster- more modern technology than what was paper rolls are a large part of an even the switch to the Delp building. dam service at Memphis International considered state of the art 20 years ago. larger warehouse. “We like this part of town,” Mallory Airport, Mallory said flowers are coming Maintaining that technology has become a “Evergreen is the only customer we said of the firm’s operating philosophy. to the warehouse from markets in South problem just in getting parts to repair it. have on rail and that’s what drove us to “It’s close to our headquarters. We don’t America. The business is not a new one Meanwhile, visitors to the museum in this facility,” said Neely Mallory III, presi- normally operate in the brand new build- for Mallory Alexander, which has worked recent months have been getting a look at dent of The Mallory Group. “We needed ings. We like the older buildings to oper- with other floral delivery services includ- the artist renderings of the renovated mu- a rail-served facility for Evergreen. We got ate in in most cases.” ing those with lines of gift products. seum. Those drawings include an exhibit with a shortline operator, R.J. Corman The Delp warehouse was built in The operations are a bit of a chal- on slavery that would simulate conditions (Railroad Group). They went on a search 1981, according to the Shelby County lenge for an industry that seeks long-term on a slave ship. with us to find a good spot they could Property Assessor. agreements with a steady flow. The floral The renovation is being paid for with get in and out of and maybe give us two “There’s a lot of that space available, arrangements see sharp peaks during a $27 million capital campaign that has so switches a day.” not only in this part of town but in other holiday seasons. www.thememphisnews.com October 26-November 1, 2012 25

news

EDUCATION First of Many Funding Requests Approved

BILL DRIES | The Memphis News them to be successful.” Schools board member. Thomas is a for- The school board next week votes on a Bunker and other commissioners who mer Memphis City Schools board member. plan to mount a national search to find the echoed similar sentiments also said the Attorneys for the suburban govern- superintendent of the merged school sys- Democratic majority on the commission ments, meanwhile, filed motions last week tem. The recommendation from an ad hoc he first Shelby County government should drop its attempts in federal court seeking to dismiss the second part of the committee to be discussed Tuesday, Oct. financing of the soon to be merged to stop the formation of municipal school commission’s two-part case against the 22, at a school board work session includes Tpublic school system approved districts in the suburbs. formation of municipal school districts. hiring a consultant to conduct the search, Monday, Oct. 22, was about $1 million less “No matter what happens with the The case alleges the suburban school dis- gather community input and come up than expected. And it drew the support of municipal schools … I still have a lot of tricts would racially segregate school chil- with a list of three finalists for the school Shelby County Commissioners opposed to constituents in this unified system,” said dren. Memphis federal court Judge Samuel board to consider. The process would take the consolidation of Shelby County’s two commissioner Chris Thomas. “I would “Hardy” Mays has heard arguments and 20 weeks with a superintendent selected public school systems. like to see some cooperation about the is preparing to rule on the first part of the and his or her contract negotiated some “We are past that point in the process,” municipal schools instead of fighting us all commission’s argument, which is that the time in mid-February. said commissioner Wyatt Bunker. “The the time.” state laws on municipal school districts The timeline includes two weeks for schools are merged. … I think we all want Bunker is a former Shelby County violate the Tennessee Constitution. the board to interview search firms and Meanwhile, Shelby County Schools select one. That would be followed by five Superintendent John Aitken told reporters weeks in which the search firm is selected, the countywide school board is about to then interviews school board members begin making other critical decisions on and seeks community input, works up POLITICS the structure and leadership of the merged a profile of the job and prepares ads to school system. recruit candidates for the job. “We’ve started wading through some of Further along in the timeline is two ‘Behind the Headlines’ the 172 recommendations,” Aitken said of weeks for school board members to inter- the recommendations from the consolida- view the three finalists and “group outings” tion planning commission that proposed and then another two weeks for interviews Explores Election Fixes a blueprint for the merger and the start of the finalists by the community. of the unified school system. “There are The County Commission Monday ap- many more things that have to be recon- proved $13.9 million in funding for com- BILL DRIES | The Memphis News ciled and planned out and agreed on. … puter software and a program to handle November, December look like they are the human resources and financial needs going to be pretty eventful.” of the merged school system.

ome early voters in Shelby County assumption. But after a period of time are snapping pictures of their com- when that did not occur we should have S pleted ballots with their phones to moved forward.” verify their votes. Other voters are delaying One of two challenges of results their trip to the polls because they antici- from the Aug. 2 elections is still pend- pate problems in the opening days of the ing in Shelby County Chancery Court. voting period that ends Nov. 1. The Shelby County Election Commission Those are the stories those working to numbers that became part of the court repair Shelby County’s election machinery case this month show 837 disputed votes as well as confidence in that machinery in the District 4 countywide school board are hearing as early voting continues in between Kenneth Whalum Jr. and Kevin advance of the Nov. 6 Election Day. Woods. Woods won in the certified results “We’ve had problems on this elec- by 108 votes. tion commission and with elections in The other court challenge from the Shelby County for years, with Democratic August elections resulted in Chancellor Ar- administrations and with Republican,” nold Goldin ordering the certified results said Democratic Election Commissioner of the Millington referendum on a sales Norma Lester. “But at some time, it has to tax increase overturned to show the ballot stop.” proposal was approved by voters there. Lester, along with Election Commis- The election commission agreed with the sion attorney John Ryder and attorney move to overturn the results proposed by Lang Wiseman, said on the WKNO-TV Wiseman, representing the city of Milling- program “Behind The Headlines.” ton in the challenge. The weekly program, hosted by Eric “Let’s not pretend that it’s just here Barnes, publisher of The Daily News, can lately that there are problems in elections. be seen in its entirety at The Daily News Problems occur all the time,” he said. Online, www.memphisdailynews.com. “The only time you find those problems, Ryder and Lester blamed most but not though, is when you go looking for them. all of the problems in the August elections And in elections where the margin is very on the once-a-decade redistricting pro- wide, which historically most elections cess. The redrawing of district lines for the are – you don’t go looking for them. So Shelby County Commission was delayed therefore you don’t find anything.” by the commission and missed the end of Wiseman said he is sympathetic to 2011 deadline in state law by six months. some degree with the job the Election “Our legislature causes a lot of our Commission has. And he agrees with the problems. … The time frames are not in political adage that no election is ever sync always with the elections,” Lester going to be perfect. There will always be said. “It was our responsibility. However, some kind of problem. it was influenced in some part by thinking “Every election that I’ve looked into that the County Commission was going to you find issues and you find problems,” go ahead and redistrict. That was a natural he said. 26 October 26-November 1, 2012 www.thememphisnews.com

real estate & development Hardeman County RV Park on Auction Block

SARAH BAKER | The Memphis News

Big Buck Resort off U.S. 64 in Hornsby, Tenn., will go to highest bidder Nov. 10 at 10 a.m.

211-acre RV resort in Hardeman about a year for $2.25 million, including some more lease land for hunting for the decided that they have some things com- County will soon hit the auction personal property. He was marketing the members that like to do that, and be a ing up that are going to take 100 percent A block. resort for a church user. hands-on type owner.” of their attention, and they don’t want to Bill Caller, principal auctioneer with Caller said the Big Buck Resort’s Caller said the property’s 2012 profit deal with it anymore. They’re ready to let Crye-Leike Commercial Auction Services, highest and best use is as an RV resort or and loss statement is coming in at around it go,” Caller said. “Normally, (auctions will host an auction for Big Buck Resort related outdoors/retreat type of business. $90,000 in net operating income. If are due to) time (restraints), financial or off U.S. 64 in Hornsby, Tenn., Nov. 10 at He’s advertising nationally to RV resorts, someone bought it at its minimum bid combination of both needs. Something is 10 a.m. The minimum bid is $500,000; the deer hunting, equestrian and related of $500,000 plus the required 10 percent motivating them to want to move quickly property was last appraised for $2 million. industries, and has listed the auction on buyer’s premium, the capitalization rate and not rely on the market to produce a “We have it priced at $500,000, mainly more than 100 different websites. on the $550,000 total would be 16 percent. buyer. This is a property that’s outside the to send a strong message to buyers, say- There are 425 members that pay an “That’s a very good investment, even box, so to speak.” ing, ‘Come buy it,’” Caller said. “This is annual membership of $400 each. Ame- at the minimum,” he said. Caller is also selling a 3,152-square- not a distressed property, it’s not a vacant nities include a pool, clubhouse, skeet Since his first auction in February foot vacant restaurant and store in Horn- property, it’s not a property that’s facing shooting range, target range, deer skin- 2011, Caller has sold more than 20 prop- sby at 23180 U.S. 64 for the same owners. foreclosure or underperforming. We’re ning cooler and private treatment plant erties to the highest bidder. He said Big That property is selling absolute, with no hoping to find a user, buyer or investor that will service up to 1,000 homes. Buck’s owners, who bought the park as an minimum bid. An open house inspection who can come in and buy a property like “It’s an active business, so they’re investment, are motivated to expedite the for both properties will be held Thursday, this at a very low basis point.” buying the business too,” Caller said. “It’s sale for personal reasons, which is rare in Oct. 25, from 11 a.m. until 4 p.m. on site. The property was previously listed right for a special person to come in and the auction business. Visit BillCaller.com or BigBuckResort.com with Crye-Leike’s Charlie Callis for build up the membership, possibly attain “This is just a situation where they’ve for more information.

INKED J.D. Byrider Brings First Franchise to Memphis

SARAH BAKER | The Memphis News

he nation’s largest used car franchise company Pike, but as we grow into the future, we have enough This will mark the third Memphis area lease for Es- has entered the Memphis market. space there to reach our needs.” sex, a Nashville-based discount retailer. Essex entered T Carmel, Ind.-based J.D. Byrider has inked In addition to car sales and financing, J.D. Byrider the market in May, inking 35,767 square feet at 590 N. 30,900 square feet at 2580 Mount Moriah Road, marking also does discounted maintenance and repairs for its Germantown Parkway and 41,534 square feet at 5124 the company’s second Tennessee dealership. clients. Summer Ave. J.D. Byrider buys cars, SUVs, trucks and vans that are “We’re putting in a full-service shop in the back,” Gil Consuegra with New York-based Brixmor Property typically five to 10 years old at auction. An average of Crigler said. “We have a separate entrance for the J.D. By- Group represented the landlord. Other tenants in the $1,500 is pumped into each vehicle during a recondition- rider side, as well as a separate entrance for the finance 174,342-square-foot center include Burlington Coat Fac- ing process before J.D. Byrider resells it to those who do company.” tory and Home Décor Liquidators. not qualify for traditional financing. Interior build out has commenced, with Greg Eric Crigler is the Memphis franchisee. Formerly a Mitchell, president of Heritage Builders, as the project’s Meanwhile, Reggie White Cardio Pulmonary Reha- principal with Skyhawk Capital Management LLC, Cri- contractor. bilitation has leased another 3,600 square feet in Kirby gler was impressed with J.D. Byrider’s financial metrics J.D. Byrider’s new space is expected to be operational Gate Business Campus, 2715 Kirby Parkway, suite 15. while looking into various franchise and investment by Nov. 28. Crigler also bought the rights to a second The specialist group’s footprint now totals 9,700 opportunities. franchise location in Memphis. square feet, after its initial 6,100-square-foot lease in the “I thought it was really a different program that center last year. serves the consumers in a different way,” Crigler said. In other commercial real estate news, The Edge at Greg deWitt, vice president with Grubb & Ellis Co. “These subprime borrowers are not always given the best Monroe Condominiums at 437 Monroe Ave. has traded Memphis, represented the owner of the 24,230-square- opportunities.” hands. foot office park, Walter Wills, in the direct deal. J.D. Byrider budgets every customer to evaluate their Bartlett-based Nabsal Enterprises LLC purchased the “There is definite activity at Quince and Kirby,” de- level of affordability, and then conducts a needs analysis 14-unit portfolio for $1.1 million from Monroe Proper- Witt said. before putting a warranty behind all of its cars. Each car ties LLC. Collectively, the Shelby County Assessor of Also in Kirby Gate, HealthSpring has leased 3,600 payment is then reported to the three credit rating agen- Property’s 2012 appraisal totals $1.3 million. square feet at 2715 Kirby, suite 1. cies. Nabsal also filed a $990,000 mortgage with Representing the tenant were Pat Gamble, “The hope is, by the end of our program, they’ve Kent Wunderlich of Financial Federal Savings senior vice president with CB Richard Ellis improved their credit scores enough to go get some more Bank in conjunction with the purchase that Memphis, and Chris Mason, senior vice presi- traditional financing on their next vehicle,” Crigler said. matures in November 2022. dent with Dallas-based Jackson & Cooksey. Joe Jon Albright, managing director of Sperry Van Ness Chris Garland and Tracie Gaia with Gar- Steffner, president of Grubb & Ellis Memphis, | Investec Realty Services, represented Crigler in lease land Co. Real Estate were the seller’s agents. represented the landlord. negotiations. Chuck House with Keller Williams Realty The buyer was not represented. represented the landlords, Jalis and Shireen Pathan. Send commercial lease announcements Built in 1975, the auto dealer facility sits on 4.33 acres In other deals, Essex Bargain Hunt to Sarah Baker, who can be reached at and formerly housed Chuck Hutton Dodge Chrysler Jeep. has leased 69,342 square feet at State- 521-2464 or sbaker@memphisdaily- “It’s certainly one of the main corridors for auto sales line Square, 550 Stateline Road, in news.com. in the city,” Crigler said. “We also considered Covington Southaven. www.thememphisnews.com October 26-November 1, 2012 27

you require payment to begin? Will you Proposals: Be Sure to Make Them Sing invoice monthly? How quickly do you expect them to pay? Etc. Congratulations on getting to your consultation – such as “a focused, name the steps in your process, as your Thank You. End with a Thank You the proposal stage. You’ll have good odds inspired sense of priority, purpose, and particular, branded approach. Break paragraph that assumes a go by its tone now. organizational readiness that flows at the down the steps (or phases) into mile- and encourages a speedy signature. Tell As a general proposal outline, try the speed of business.” Then, thank them for stones, meetings, a set of deliverables, them that you are excited about working following: seriously considering the proposal. Sign or a combination of these touch points. together and to contact you if they are Opening Letter: your name. For each phase, note the timeline and ready for you to send over a standard, this letter sets the About Your Firm: expected dates of meetings and deliver- brief contract and set a kick-off date for tone of the profes- Add a paragraph ables. Make no notice of price here. this endeavor. sional relationship. about your business: Payment and Terms: Include a short As for advice, be your best and high- Demonstrate that what it does, how it paragraph about why it makes good busi- est self. Employ a tone that is friendly you understand does it, what the end ness sense to hire you to do this impor- and helpful, but is also assured. Persuade the client’s pain benefit is. Add an- tant assignment. Then, list the Payment. them that you are both passionate and points and points other paragraph that You can either price the project per phase thoroughly detailed. Most of all imbue the JOCELYN ATKINSON writing with a sense of mission. After they of stress. Tell & michael graber is your professional in the scope of work or per month. If you exactly how you let’s grow biography. If you do it per month, be prepared to explain read the proposal, they should have the plan to remedy this have any testimoni- your math. In terms of pricing, always sell conviction that you were born to do this ailment, but answer on a high strategic als, press or awards add them in a third the value of your services, never the mere work. level, alluding to your process and ap- paragraph. If you have references, list cost. Make it sing. Make it real. proach. Add how your experience makes them here with contact information. People pay a premium for unique you a natural to solve this vexing issue. Scope of Work: Here you outline the value. List any out-of-scope items after Jocelyn Atkinson and Michael Graber Paint an emotional and concrete picture engagement in vivid detail. Discuss the the price, as if an afterthought, but still run the Southern Growth Studio. Visit www. of what the client’s work life will be after steps of your process. You may want to an important point. Note your terms: Do southerngrowthstudio.com to learn more.

1265 riverside blvd. UTSI is parent of Mason Dixon Memphis, TN 38106 Intermodal, which operates the 4014 REAL ESTATE RECAP Outland Road facility. The com- Loan Amount: $1.3 million pany’s four parcels on which it filed Loan Date: Oct. 2, 2012 the loan total 35.58 acres along the Case Management Buys Maturity Date: Oct. 5, 2022 east side of Outland, between Win- Borrower: Pearl River Properties chester and East Raines roads. LLC All four parcels are in the Raines Airport-Area Office Building Lender: First Capital Bank Road Distribution Center subdivi- Details: Pearl River Properties LLC, sion and have a combined appraised ERIC SMITH | The Memphis News the owner of the 33,500-square-foot value of $1.2 million, according warehouse at 1265 Riverside Blvd. to the Shelby County Assessor of near the entrance to Presidents Property. UTSI bought the parcels Island, has filed a $1.3 million loan in 2010 from Christopher R. Folk, on the property. trustee, under Christopher R. Folk The company, which bought the Revocable Living Trust, dated Nov. Airport-Area Executive Ct Dr Oce Building industrial facility in December 2007 16, 2004. from Sims Properties LLC for $1.8 million, filed the loan Oct. 2 through 3060 N. germantown road First Capital Bank. bartlett, TN 38133 and 1831 Directors Row Built in 2004, the Class B getwell road Days Creek warehouse sits on four acres at Memphis, Tn 38111 the northwest corner of Riverside

E Brooks Rd Boulevard and West Trigg Avenue. Loan Amounts: $9.5 million and The property contains two adjoined $1.3 million buildings. Loan Dates: Oct. 5, 2012 The Shelby County Assessor of Maturity Dates: N/A

Windbrook Dr Property’s 2012 appraisal is $1.2 Borrower: JWE ACE LLC 3171 directors row • MEMPHIS, TN 38116 million. Lender: Bank of America NA Details: Duluth, Ga.-based JWE ACE 4014 outland road LLC has filed loans for $9.5 million 3171 directors row memphis, TN 38118 and $1.3 million, respectively, for Memphis, TN 38116 the auto dealerships at 3060 N. Ger- Loan Amount: $3.1 million mantown Road in Bartlett and 1831 Sale Amount: $1.3 million Loan Date: Aug. 28, 2012 Getwell Road in Memphis. Sale Date: Sept. 28, 2012 Maturity Date: N/A The company filed both loans Buyer: Case Management Inc. Borrower: UTSI Finance Inc. Oct. 5 through Bank of America NA. Seller: Directors Memphis LLC Lender: Comerica Bank JWE ACE opened the Infiniti Loan Amount: $1.3 million Details: UTSI Finance Inc., the of Memphis dealership at 3060 N. Loan Date: Sept. 27, 2012 owner of an intermodal yard at 4014 Germantown Road last year. Maturity Date: N/A Outland Road in Oakhaven, has The property contains a Lender: Hope Federal Credit Union filed a $3.1 million deed of trust, 30,717-square-foot building on 9.8 Details: Memphis-based Case Management Inc. has paid $1.3 million for the assignment of leases and security acres along the east side of German- 55,004-square-foot, four-story office building at 3171 Directors Row in Whitehaven. agreement on the property. town Road, north of U.S. 64 in the The company, which provides outpatient case management services to the men- The company, an entity related Wolfchase area. The Shelby County tally ill in the Memphis and Shelby County area, bought the building Sept. 28 from to Warren, Mich.-based transpor- Assessor of Property’s 2012 apprais- Tacoma, Wash.-based Directors Memphis LLC. Built in 1973, the Class C office build- tation service provider Universal al is $5.4 million. ing sits on 2.53 acres along the west side of Directors Row near its intersection with Truckload Services Inc., filed the Built in 1990, the 24,383-square- East Brooks Road and directly west of Memphis International Airport. The Shelby loan through Comerica Bank in foot dealership at 1831 Getwell Road County Assessor of Property’s 2012 appraisal is $526,900. August, although the Shelby County sits on 6.3 acres at the intersection The buyer filed a $1.3 million loan through Hope Federal Credit Union. Florence Register of Deeds didn’t process the of Getwell and Interstate 240. The Hervery signed the trust deed as CEO of Case Management. deed until this week. appraisal is $2.3 million. 28 October 26-November 1, 2012 www.thememphisnews.com

Ethics And Law Talk Infield Flies Harris’ Career Based On The Infield Fly Rule is neither a rule of law nor one of equity; it is a rule of baseball,” wrote William S. Stevens in “The Common Law Origins of the Infield Fly Rule,” University of Penn- Desire to Help Community sylvania Law Review, vol. 123, p. 1474. The IFR was invoked in the Oct. 5 wild card play- off game between the Braves and Cardinals when RICHARD J. ALLEY | Special to The Memphis News a pop-up landed between St. Louis’ shortstop and left fielder, due to their miscommunication. The t seems like with so many people, in, whatever somebody brings to me, umps called the batter Lee Harris’ eventual career inter- wherever there’s an opportunity for out. Atlanta’s fans threw Iest was sparked by television. change and reform, I’m just going to garbage onto the field. “All I knew was what I saw on TV, plow ahead.” When there are fewer and lawyers seemed very, very power- This idea of change and reform VIC FLEMING than two outs and runners ful and able to get things done,” he isn’t one that came with elected office, I SWEAR on first and second, if the said. but one he took into his training as batter hits a fly ball that Of course there was more to it a lawyer, one that he knew would be can be caught by an infielder “with ordinary effort,” than an infatuation with prime time enhanced with the power he saw in the batter is out and runners may not advance. drama, but Harris has known since the television lawyers long ago. Stevens argued that baseball derived from Brit- middle school that he wanted to be a “That’s what I was most con- lawyer and the reality of the profes- cerned about was making sure that I ish origins. Early contests were governed by rules HARRIS in which “winning was not the objective,” but rather sion, he said, has lived up to his was in a position to actually do some- exercise was. “As baseball grew, so did the influ- expectations. The Whitehaven native thing civically or community-wide, so ence of values that saw winning as the purpose of and Overton High graduate traveled law, his advice to anyone considering the law was a path to effect my com- munity,” he said. “I already had that the game.” Before long victory was sought “by any far from home for his degrees – B.A. in a career in the legal profession would international studies with a minor in be to do something else, “anything kind of bent, that kind of spirit, before means possible within the language of the rules” economics from Morehouse College, else,” before entering law school, he I entered into law school and it was – including tactics that violated the spirit of those and a J.D. from Yale Law School in said. just a way to make sure that I had the rules. In a May 1893 game between New York and 2003 – and then returned home. “I think once you’re a lawyer, I skills and the gravitas to actually make Baltimore, a speedster was on first and a slow run- “There was no question for me,” think you’re a lawyer for the rest of the kind of changes I wanted to make ner was at the plate. An infielder allowed a pop-up he says of his choosing to live and your career, your friends are lawyers, in the community.” to drop, forcing the runner out at second. A reporter work in his hometown. “Never at any you’re likely to marry a lawyer,” said To this end, Harris started a legal credited time did even a specter of doubt enter Harris who is married to an attorney. clinic at the law school to give free the fielder my mind, I always knew that I’d return “You’re in the law, and of the law, for legal advice and support to small- with I Swear Crossword to Memphis. … I knew this is where I the rest of your life and certainly the business entrepreneurs in Memphis, “excellent Fleming’s weekly puzzle Page 34 wanted to be to practice law, to raise a rest of your career. It’s a good idea to he volunteers with Big Brothers Big judg- family and to try to make a change.” have other experiences before you Sisters, is a member of the Frayser Ex- ment,” He practiced commercial litiga- make this lifelong commitment.” change Club, has served as co-chair of but others saw this as the defense obtaining “an tion for Baker, Donelson, Bearman, Having said that, Harris couldn’t a bar association committee on public advantage it did not deserve.” Caldwell & Berkowitz PC for two years imagine having taken any other track, service, and has co-directed the city's In June, a similar incident occurred in another before entering the academic side though he has, in fact, taken another High School Mock Trial Competition. game. As written up in the paper, “Kelley hit a teaching law for the Cecil C. Hum- track into politics as the city council- Harris and wife, Alena Allen, also a pop fly to shortstop. Dahlen caught the ball, then phreys School of Law at the University man for District 7. After nearly a year professor for the law school, have two dropped it and threw to second base.” The umpire of Memphis. In the years since first in office, he’s found his stride and says children. To make his city better for refused to allow the play and called the hitter out. donning the hat of professor, Harris he’s “having a good time” and has them, the avid jogger and cyclist has Identical fact patterns; different results. has done stints as a visiting professor managed to put criticism – a neces- advocated for the city’s ever-increas- The above plays prompted baseball to enact the with Yale, at Ecole de Management in sary evil that comes with the position ing profile as a more livable city for “trap ball” rule: “The batsman is out if he hits a fly Grenoble, France, and George Wash- – out of mind, and “to push forward pedestrians and strives for equality for ball that can be handled by an infielder while first ington University School of Law. and try to change as much as human- minorities, gays and lesbians, and the base is occupied and with only one out.” From there, Despite his love of teaching the ly possible. Whatever I’m interested disabled in the city. Stevens wrote, the IFR “emerged from the interplay of … factors, each [resembling] a major force in the development of the common law.” Honorable people don’t try to profit from their law & the courts own unethical conduct. Or do they? And not all par- ticipants are honorable. A formal code was needed. Written codes, though, can’t cover every situation. At common law, an aggrieved party had no rem- Bar Launches Health Care Section edy if “existing writs did not encompass the wrong complained of.” Judges and umpires would both prefer to have rules squarely on point, especially ANDY MEEK | The Memphis News the formation of which is in some re- emeritus at Methodist Le Bonheur when shenanigans are involved. Rules committees spects unsurprising and natural given Healthcare and of counsel at Glankler (and “legislatures”) responded as needs arose, but the robust health care community Brown PLLC, who was chosen as vice umpires and judges did justice (or equity) when that’s now established in Memphis. chair. Bill Bomar, member of Glankler exigencies so required. Precedents at common law he Memphis Bar Association The political climate of the country Brown, is secretary, and Mary Ann were used to mold existing remedies to new situa- has a new section of attor- also has health care reform as a topic Jackson, shareholder at Baker, Donel- tions. Legislators overrode judges where they could. T neys dedicated specifically to of hot discussion, which only adds to son, Bearman, Caldwell & Berkowitz After retiring from law practice in Pennsylvania health care law. what organizers think could make for PC, is treasurer. in September 2008, Stevens took a job as acting The bar’s newly formed Health a fruitful group. Board members chosen include director of continuing legal education for the Alaska Law Section held its organizational “Memphis has a remarkably Mary Margaret Petrinjak, an associate Bar Association. He died three months later in An- meeting Oct. 17 at St. Jude Children’s strong health care community, in- with Burch Porter & Johnson PLLC; chorage of a heart attack. He wrote many articles Research Hospital. Officers were cluding hospitals, physician groups, Cindy Reisz, an attorney with Bass during his legal career, but none achieved to the chosen at that time, including Robyn research centers, universities and Berry & Sims PLC; Walt Schuler, an notoriety of that accorded his first, “The Common Diaz, deputy general counsel at St. biotechnology, medical device and attorney for the University of Ten- pharmaceutical companies,” Diaz nessee Health Science Center; Scott Law Origins of the Infield Fly Rule.” Jude, who led the effort to form the section and who was nominated as said. Shanker, an attorney with Butler, Fleming is a district court judge in Little Rock. the first chair. In addition to Diaz, other of- Snow, O’Mara, Stevens & Cannada The new section’s attorneys also ficers chosen to lead the new section PLLC; and Kathy Steuer, an attorney voted on a direction for the group, include Steve West, general counsel with St. Jude. www.thememphisnews.com October 26-November 1, 2012 29

Memphis STANDOUT Nguyen Takes Pride in Rich Heritage

CHRIS MCCOY | Special to The Memphis News Asia, and Memphis became the home to a inspired by other family of Optometry. large and close-nit Vietnamese community members who were in the “My sister had gone to known as The Big Family. medical profession. But it SCO, and I knew, unbi- “We were the original group,” Nguyen was optometry that caught asedly speaking, that it is he Eyewear Gallery’s newest addi- said. “We were probably 85 percent of the his eye, so to speak. one of the better optometry tion, Dr. Do Nguyen, is proud of his Vietnamese people in Memphis at the “I was intrigued with schools in the nation,” he Theritage. time. There would be get togethers with a vision when I started having said. His family emigrated to the United hundred people every weekend. It was a to wear glasses when I was He was soon faced with States from Vietnam by way of Indonesia lot of fun. It was a very close culture.” a little kid,” he said. “I felt the decision of where to as a part of the mass migration from the Even though their means were humble, optometry was the best fit begin his career. But Dr. his family and community encouraged for me, because of all of Warren Johnson at the war-torn country that occurred in the late NGUYEN 1970s and early 1980s. him to succeed in whatever he set his the different ways you can Eyewear Gallery convinced “We were the last of the boat people,” mind to. practice: You can do private him to stay in Memphis. said Nguyen who was about 4 months old “I don’t know I would say my parents practice, you can teach, you can go com- “I thought, this opportunity only when he came to the U.S. pushed me, but it was kind of expected,” mercial, or you can do research.” comes along once in a blue moon,” The Nguyens are a traditionally large he said. Ultimately, it was the human element Nguyen said. “It’s a great job. It’s in my Asian family – Do, who was born in June His brothers and sisters all went on to that helped him decide on a field. hometown, my parents and family are 1986, is the youngest of seven siblings. earn advanced professional degrees and “I wanted to spend a lot of time with here, and he is a great doctor, and this is a His parents had scrimped and save for a become successful in their fields: Two patients,” Nguyen said. great practice. It’s the job every graduate decade to bring the family to the United of them became computer engineers, After graduating from White Station dreams of getting, and I was lucky enough States, and times were tough when the one a pediatrician, one an architect, one High School, Nguyen attended Brown to get it.” clan first arrived in Memphis. a rheumatology fellow, and one also an University in Providence, R.I. Nguyen said he is looking forward to “My parents were laborers making optometrist. “The best thing about college are all of building a thriving practice at the Eyewear minimum wage,” he said. “I think it was “My siblings were always there for me,” the people you meet,” he said. Gallery and giving back to the Memphis $3.25 (an hour) back then when they got he said. “They gave me direction and guid- When it came time to choose a gradu- community that helped him succeed. here.” ance. Seeing them work hard and make ate school, he considered the New England “My siblings set such a great example In the 1980s, the United States accept- something of themselves. I didn’t want to College of Optometry in Boston and the for me by mentoring and volunteering in ed more than 800,000 refugees fleeing the be the one who messed up.” Pennsylvania College of Optometry in the community,” he said. “I am trying to do aftermath of the decades of war and subse- Nguyen said he first considered be- Philadelphia, but decided to return to some of that now with mentoring pro- quent Communist reprisals in Southeast coming a medical doctor, because he was Memphis to attend the Southern College grams across the city.” 30 October 26-November 1, 2012 www.thememphisnews.com

EDUCATION quarterly report School Board To Make Stand Business Licenses On Tax Hike Drop 10 Percent BILL DRIES | The Memphis News

ANDY MEEK | The Memphis News

hen the countywide school board votes next week on a resolution to hether the reason is access audiences come to see live music and Wendorse a half-cent countywide to capital or lack of customer Shelby County Business Licenses where some operations – like the inter- sales tax hike, the vote will not be unanimous. demand, the result is the active creative company Bigfish – have W Third Quarter 2011: 1,592 And the resolution that backs the tax hike same: fewer entrepreneurs are filing their office. Third Quarter 2012: 1,435 on the Nov. 6 ballot will not guarantee that business licenses in Shelby County. A license was filed during the third the $30 million from the tax hike that goes to That’s according to third quarter to- Source: The Daily News Online, www.memphisdailynews.com quarter for the “Apple Store of Mem- local education will be used for pre- kinder- tals from the Shelby County Clerk’s of- phis,” in addition to Panda Express. The garten access for all children. fice, which show a decline of 10 percent former is the retail arm of the tech giant “This is simply additional resources to in the number of business licenses filed Third Quarter Corporate Charters that has an existing presence in Mem- make tough decisions,” school board mem- in the July to September period (1,435) (by type) phis, and the latter is a quick-service ber Kevin Woods said Tuesday, Oct. 23, as compared to the same period in 2011 Limited Liability in State: 267 food concept that entered the Memphis the school board had a lively debate over his (1,592), according to The Daily News retail market in recent weeks. Charter in State: 74 resolution at its work session. Online, www.memphisdailynews.com. The Chinese restaurant chain Charter Surrender in State: 57 Woods is the second board member to of- The third quarter 2012 number, opened a store in Cordova in front fer such a resolution that began with wording however, was more than the 1,397 busi- Charter Amendment in State: 48 of Walmart Supercenter. That Panda later taken out that would have specifically ness licenses filed in the second quarter Source: The Daily News Online, www.memphisdailynews.com Express marks parent company Panda committed the money to pre-k or at least said of this year. Restaurant Group Inc.’s 1,500th store it was the board’s intent to use the money for The numbers provide a glimpse into were looking for a $10,000 business and first in West Tennessee. pre-k access. the state of commerce in the county loan from a relative or a $300,000 busi- Other business licenses that were School board member Jeff Warren, who from a number of vantage points. Those ness loan from your bank, there is just filed include one for Bella Café at the floated similar resolutions last month, stood totals, for example, include filings less funding to go around. Which, in Pink Palace. The Pink Palace natural ready to make a specific commitment but from out of state by entrepreneurs who the end, means fewer new businesses and cultural history museum an- both school superintendents counseled intend to start a business here. launching in our area.” nounced a year ago it was seeking against it. They also include business license Last week, author, business coach proposals for a new operator for a “We asked our administrators, ‘Do we tell renewals, in addition to licenses for and strategy expert Michael Synk host- restaurant in the east lobby, with food people this money is definitely going to pre- new ventures. ed a workshop during which he went services for families, school children, k?’” Warren said. “We can’t because they don’t Robert Staub, a local small-business straight at another problem that might senior citizens and other visitors to definitely know how they are going to use it. consultant, said one problem is money. keep some ventures from getting off the have a meal, snack, or beverage. … The goal is to give some to pre-k but we “I believe one of the main reasons ground. Too many of them, he would Also, Redbox – the business that can’t commit that to you because of the way for the drop in business licenses is suggest, have a lack of strategic focus. rents DVDs via user-operated kiosks – the system works.” access to capital,” Staub said. “Some Attendees of his workshop, which filed half a dozen business licenses in The issue is an important one. Memphis might argue it is because of a weak was sponsored in part by The Daily Memphis in the third quarter. Mayor A C Wharton Jr. in reversing his oppo- economy or that it’s an election year. I News, walked away with a one-page Redbox files the licenses for each sition to the sales tax hike said his backing of would argue that there were plenty of strategic plan that contained actionable kiosk because they essentially are tiny the tax is based on all $30 million in educa- properly capitalized new businesses execution items. video rental businesses, similar to the tion revenue going for pre-kindergarten that did well this past year under those The third quarter business license old brick-and-mortar model. Redbox, access. conditions. totals included licenses for Minglewood however, crams its selections into a “Once I saw that … they were prepared to “The problem with starting a busi- Hall, the existing Midtown entertain- space equivalent to about 10 square earmark this portion of these funds to bring ness over the past year, whether you ment and commercial complex where feet. about early childhood (education) and this is guaranteed,” is how Wharton described the commitment backers of the ballot proposal made to him earlier this month. EARNINGS “There are mechanisms other than the traditional ways of doing this,” he added at the Oct. 2 press conference. “That’s what my support is conditioned on. The voters have to know before I give one speech out on the Delta Profit Surges on Fuel Contract Gains campaign trail.”

The mechanism would be private founda- BILL DRIES | The Memphis News which was just shy of Wall Street expec- port in a year’s time. The second round tion funding that comes with the caveat that tations of 91 cents. began in August. it would be combined with the tax revenue Revenue rose 1 percent to $9.92 bil- September numbers for Memphis only for pre-k programs. So far, that private lion, also just under analysts' estimate International Airport show 29 scheduled funding mechanism hasn’t surfaced and early elta Air Lines announced of $9.93 billion, according to FactSet. Delta daily flights, not counting regional voting has been under way for a week. Wednesday, Oct. 24, a third- Delta says revenue was driven by its ef- service under the Delta brand, carrying Some school board members opposed to Dquarter profit that nearly dou- fort to trim seats according to demand. 171,225 passengers. the resolution supporting the tax hike said bled for the three months that included As it scaled back capacity, flights were The same figures for August 2011 they don’t necessarily think that pre-kin- the start of the second round of Delta air slightly fuller. show 39 Delta flights at Memphis Inter- dergarten access should be the top priority service cuts at Memphis International “We expect our revenue perfor- national carrying 262,430 passengers. for the half of the revenue that goes to local Airport in a year. mance to benefit from our continued Delta made 3 percent more per schools by state law. Executives of the Atlanta-based air capacity discipline and further corpo- passenger in the third quarter, which “I think it is fiscally imprudent for this carrier said that Delta’s third-quarter rate travel gains,” said Delta President includes a bulk of the peak summer board to commit to any kind of budgetary profit nearly doubled mostly due to the Ed Bastian. season but also incorporates one of the item,” board member Rev. Kenneth Whalum increasing value of its fuel contracts. “And we are forecasting our October weakest months – September. Jr. said. The world's second-largest airline unit revenues to increase 4-5 percent Traffic at all the big airlines fell last “If we’re faced with choosing between earned $1.05 billion, or $1.23 per share, year over year.” month. jobs and pre-k, I’m going to choose to keep compared with $549 million, or 65 “Capacity discipline” is a phrase that the jobs of the custodians whose kids don’t cents, a year earlier. Excluding one-time has meant two rounds of air service cuts The Associated Press contributed to have pre-k.” items, it earned $768 million or 90 cents, by Delta at Memphis International Air- this report. www.thememphisnews.com October 26-November 1, 2012 31

Newsmakers Using Pinterest Palmer Joins Cannon Wright Blount To Increase

Kate Simone | The Memphis News Holiday Sales

Virtual scrapbooking site Pinterest is a force to be reckoned with. That’s why brands nationwide will integrate Pinterest David Palmer has joined Cannon Wright Blount CPA firm as direc- campaigns into their promotional strategies tor of assurance and accounting services. Palmer’s specialties include this holiday season. This 2-year-old social me- audit and profit-sharing plans in a multitude of industries. dia phenom has already attracted roughly 20 Hometown: Life-long Memphian the audit department. million users, making it the third-most popular social network in the U.S. Education and work experience: What are your goals? Making our Not only is its user base massive, Pinterest University of Memphis; Briarcrest Bap- department efficient while also re- is retaining and engaging users as much as tist School System; 24 years with a membering our quality standards and two to three times more efficiently than Twit- large local CPA firm service to the client. ter at a similar time in its history, according to SocialMediaExaminer. Family: Single, rescue dog named Greatest accomplishment? I guess com. Plus, 80 percent Betty it would be passing the CPA exam; it’s of pins are reportedly the toughest test I’ve ever had! PALMER “repins” (the equiva- Favorite quote: When things aren’t lent of “sharing” in the Facebook world) going well, I always remember, “This What do you most enjoy about your Barbara Prescott, strategic demonstrating the too shall pass.” work? I enjoy the variety of work: Just planning and development con- when you start to tire of one particular sultant and chair of the schools viral activity in the Activities you enjoy outside of thing, it’s on to the next and complete- Transition Planning Commis- Pinterest community. What’s more, shop- Lori turner- work: Going out to eat, spending time ly different task. I also enjoy getting to sion, has been named executive wilson with friends, traveling and trying new visit with clients all over the area – and director of the PeopleFirst Part- pers referred by Pin- guerrilla sales draft beers on pint night try new restaurants near my clients. nership. The goal of the partner- terest are 10 percent and marketing ship is to improve educational more likely to make Who has had the greatest influence What advice would you give to outcomes and to expand the a purchase than visitors who arrive via other on you? My parents; they helped to young people? Study hard and stay pool of talent in Memphis and social networks. make me who I am today. in school. It’s an old line, but it’s true. I Shelby County. Once thought to be just for the retail com- wouldn’t be where I am today if I hadn’t munity, nonprofits and even service-based What attracted you to the firm? done just that. My job is a lot more fun Dr. Stephanie Connelly has businesses will be jumping on the Pinterest Great relationships with the partners and pays much better than the manual joined Midtown Internal Medi- bandwagon this holiday season. Nonprofit and an exciting opportunity to develop work I did before graduation. cine, a primary care practice af- Samaritan’s Purse leverages Pinterest to filiated with Methodist Health- promote its holiday campaign called “Opera- care. tion Christmas Child” where supporters pack shoeboxes full of toys and school supplies for Dr. Reginald Coopwood, children in impoverished countries. CEO at The Regional Medical The organization reports its Shoe Box Center at Memphis, has been Ideas pinboard generates 70 to 100 repins per named the 2013 March for Ba- post. Supporters upload photos of gift ideas bies chair. March for Babies is for the shoeboxes, hosting tips for shoebox March of Dimes’ largest annual packing parties, and pictures of the children fundraiser, working with the receiving the gifts. Last year, Land’s End organization to prevent preterm deployed a “Pin It to Win It” contest for the births. holidays. Pinners created a Land’s End board with 10 to 20 pins featuring the brand’s ap- The Regional Medical Cen- parel, ultimately emailing the company a link ter at Memphis has made three to their board. hires. Wanda Gardner-Slater AMC Theatres created a pinboard dedicat- has joined as director, pastoral ed to contests and giveaways. Users following care, Keith Morrow as director this board get the latest holiday offers, VIP of clinical services and Angela ticket opportunities, and the notification of Hudson as nurse practitioner, giveaways such as signed movie posters and sickle cell. even a signed director’s chair. Victoria’s Secret encourages users to cre- Blanchard E. Tual of Tual ate a Victoria’s Secret board and pin at least Graves PLLC has been listed three images from the brand’s Facebook fan in the 2013 edition of The Best page or website. Top boards are selected with Lawyers in America for his work those receiving the most votes (or likes) taking in the practice areas of corpo- home prizes. Not only is the brand driving Pin- rate law; litigation – trust and terest traffic, but it’s also increasing Facebook estates; and trusts and estates. and website activity to boot. Email solution provider, Emailvision, asks Community LIFT has named users to pin their favorite email campaign its 2012/2013 board of directors. designs. The campaign, coined “Pin Your In- New members include Phillip box,” reminds users of the company’s primary May, president of the Tennessee service offering. The campaign with the most division of Metropolitan Bank; Pinterest likes wins a custom email campaign Stinson Liles, cofounder of Red Deluxe; and Sarah Ray, a Princ- designed by Emailvision’s design pros. eton University graduate stu- Pinterest offers opportunities for more dent studying urban policy. than just the retail community this holiday season. With a little ingenuity and a small Friday at 7:00pm WKNO The Rhodes College Depart- time investment you might be surprised at the impact on consumer engagement and Friday at 7:30pm WKNO2 ment of Music has been accred- ited by the National Association sales. Sunday at 8:30am WKNO of Schools of Music following a three-year review. 32 October 26-November 1, 2012 www.thememphisnews.com

MANUFACTURING QUARTERLY REPORT International Paper Reports Bankruptcy Filings Earnings Drop Drop 4 Percent in Q3

BILL DRIES | The Memphis News Shelby County residents still reeling from difficult financial climate

emphis-based International Bill Dries | The Memphis News practice he is seeing steady numbers in have the tenants whether it’s residential Paper Co. posted net earn- Chapter 13 filings with more clients quali- or non-residential. … That’s a trend that Mings for the third quarter of fying for Chapter 7. has been pretty steady for the last several $237 million compared to $468 million “I’m having a lot of people who are years.” the same period a year ago, a 49 per- ankruptcies filed across all catego- coming in and they’ve lost their car, Like Sweeney, Bailey also sees evidence cent drop. ries in Shelby County in the third they’ve lost their house and they don’t that debtors holding out for an economic The $237 million profit amounts to Bquarter of 2012 dropped 4 percent have a job,” he said. “There is no need recovery are running out of time. 43 cents a share compared to $1.08 a from the third quarter of 2011, according for me to even file a bankruptcy for them “There is still some spillover from the share a year ago. Excluding one-time to The Daily News Online, www.memphis- because they are basically judgment proof. real estate demise,” Bailey said. “You still expenses and charges, per share earn- dailynews.com. I’m seeing more and more of those people have builders and construction-related ings fell from 81 cents to 75 cents. The 3,171 bankruptcies compared come in the door than anything.” businesses and individuals that did that The results, reported Thursday, to 3,305 the same quarter a year ago and Sweeney said the beginning of the new kind of work that have hung on as long as Oct. 25, were lower than expected and 3,093 for the second quarter of 2012. year could be a critical period depending they could and for whatever reason they leaders of the paper and packaging Chapter 13 filings or “wage earner” on whether the national economy begins are continuing to file.” giant attributed that to weaker sales of cases for the quarter, which made up most to improve. If it does, he believes there will Bankruptcies filed in September in consumer packaging in Asia and North of the total across all categories, totaled be a “bankruptcy bounce.” Shelby County totaled 1,006, down 15.5 America. Third-quarter revenues were 2,483, down 3.2 percent from 2,565 a year “If next year, the economy turns percent from the 1,190 in September of $7 billion, a 5.9 percent increase from a ago. But the third quarter total was up around, I predict that we’ll see an increase 2011 and 1,084 in September of 2010. year ago. 5.4 percent from the 2,351 in the second in filings,” he said. “Those people who Chapter 13 filings for the month, ac- International Paper CEO John quarter of this year. came to me who didn’t have a job will be cording to The Daily News Online, www. Faraci characterized the numbers as Frayser’s 38127 ZIP code led the pack in employed. And at that point in time the memphisdailynews.com, were 783, down “strong results despite a challenging wage earner cases with 234 followed by the creditors are going to pounce on them to 16.8 percent from the 940 filings a year ago. macroeconomic environment.” 217 in Westwood’s 38109. The third highest collect money they haven’t been able to Chapter 7 filings were 220 in Septem- Before the earnings call, Faraci ZIP code was Raleigh’s 38128 with 204. collect.” ber, down from 260 the year before. told Reuters, “The world seems to be In the previous quarter, the Frayser Meanwhile, attorney James E. Bailey And the three Chapter 11 filings in Sep- moving in slow motion. It’s still moving and Westwood ZIP codes were also the two III, of Butler, Snow, O’Mara, Stevens and tember were down one from September ahead, but it’s definitely in slow mo- highest followed by the 38116 Whitehaven Cannada PLLC, works in Chapter 7 cases 2011. Those filing for bankruptcy in Shelby tion.” ZIP code and Raleigh was fourth. in several ways – as an attorney filing the County during the quarter included Sarsal Lower volume was the “primary There were 683 Chapter 7 filings for petitions, helping negotiate agreements Square Apartments LLC, Ellen’s Soul Foods headwind” for the quarter, according the July to September quarter, down 6.7 with creditors to avoid a filing and working and CTA Trucking Inc. to International Paper Chief Financial percent from the 732 a year ago. with two of the four Chapter 7 trustees. He Digital Domain Media Group – the Officer Carol Roberts. The Southeast Shelby County ZIP code works primarily on business bankruptcies. company working with Elvis Presley Enter- The day before the earnings report, of 38125 led the Chapter 7 category with 45 “We have seen a lot of commercial real prises Inc. to create a holographic image of International Paper announced it has filings, followed by 42 in Hickory Hill North estate workouts and there have been some Elvis Presley – filed for Chapter 11 bank- formed a joint venture with Jari Cel- and 40 in Frayser. bankruptcy filings for multifamily housing ruptcy in Delaware during the quarter. The lulose, a Brazilian corrugated packag- The Chapter 11 filings for reorganiza- projects where you have a small apart- company’s assets were bought weeks later ing producer that is part of the Grupo tion totaled five for the quarter, down from ment complex or series of small apartment at auction for $30.2 million by Galloping Orsa company. IP’s investment in the eight in the third quarter of 2011. complexes or a strip mall,” Bailey said. “In Horses America LLC in partnership with venture is $470 million. Attorney David Sweeney said in his general, it’s a lack of occupancy. They don’t Reliance MediaWorks Inc. The joint venture includes Jari’s three containerboard mills and four Third Quarter Shelby County Bankruptcies: September Shelby County Bankruptcies: box plants, which will be spun into a newly formed company that IP owns Third Quarter 2012 Third Quarter 2011 Sept. 2012 Sept. 2011 Sept. 2010 75 percent of. The company will be separate from Jari’s forestry and pulp Total: 3,171 3,305 Total 1,006 1,190 1,084 businesses. The joint venture is Inter- Chapter 13: 2,483 2,565 Chapter 7 220 246 260 national Paper’s entry into corrugated packaging in Brazil. Chapter 7: 683 732 Chapter 11 3 4 1 “It’s a market that we know well,” said Tim Nicholls, senior vice presi- Chapter 11: 5 8 Chapter 13: 783 940 823 dent of printing and communications papers. Source: The Daily News Online, www.memphisdailynews.com Source: The Daily News Online, www.memphisdailynews.com

MANUFACTURING Mueller Industries Net Income Up $5.5 Million in Third Quarter

BILL DRIES | The Memphis News That compares to net income of $10.5 well as plumbing. who believe the construction industry is in million for the third quarter of 2011 on net Mueller saw the average price of cop- the process of recovery,” said Mueller CEO sales of $585.8 million. per drop 54 cents a pound to $3.53 in the Greg Christopher. Mueller executives attributed the net third quarter compared to the same period “Absent disruptions to the market emphis-based Mueller Indus- sales drop of $71.6 million to lower selling a year ago. from potential changes in federal tax and tries Inc. reported third quarter prices. Mueller’s quarterly earnings reports are spending policies, we should see improved M2012 net income of $15.5 million The company makes copper and brass a window into the health of the construc- demand levels for our products, especially Tuesday, Oct. 23, on net sales of $514.2 tube and fittings and similar devices used tion and homebuilding sectors. as we move into the seasonally stronger million. in commercial and home construction as “We agree with the many economists spring months.” www.thememphisnews.com October 26-November 1, 2012 33

LOGISTICS FedEx Sees Online Shoppers Powering Holiday Record

The Associated Press The forecast, released Monday, comes handles on its busiest day, which varies ac- Holiday shipments will be driven by against a background of lackluster growth cording to Christmas shipping deadlines, sales of personal electronics, apparel, in the global economy. FedEx has warned has nearly doubled since 2005. luxury goods and items from large Internet the economy is stalling and expects condi- On FedEx’s busiest day this year, pro- retailers. FedEx moves the bulk of its edEx expects to ship a record num- tions to get worse next year. It’s making big jected to be Dec. 10, it forecasts 19 million cheaper, lighter-weight shipments from ber of packages during the holidays, cuts in the businesses that have been the packages will move through its network, online and catalog retailers through its Fthanks to shoppers’ growing fond- hardest hit, including its Express unit that up 10 percent from 2011. That’s in line with SmartPost service, a partnership with the ness for buying online. moves top-priority shipments by air. the increase FedEx has seen in years with U.S. Postal Service. The company expects to handle 280 But the number of shipments normal growth rates, noted Deutsche Bank FedEx SmartPost has been a huge million shipments between Thanksgiving FedEx handles at the holidays has climbed analyst Justin Yagerman. FedEx’s holiday driver of growth for the company since it and Christmas, up 13 percent from the steadily along with the growth of Internet shipment growth has ranged from 4.3 was formed. Average daily package volume same stretch last year. purchases. The volume of packages it percent to 18.3 percent since 2006. grew 18 percent in the fiscal first quarter. happenings

breads and cupcakes. » the arts Ballet Memphis will premiere “The River Cost is $49. Visit myur- Project” through Sunday, Oct. 28, at Playhouse banworkspace.com. The South Main Art Trolley Tour will be on the Square, 66 S. Cooper St. Buy tickets at Better Business Bureau of the held Friday, Oct. 26, from 6 p.m. to 9 p.m. in the balletmemphis.org. Methodist North South Main Historic Arts District. Email info@ Mid-South will hold a Lunch & Learn Hospital will hold a free southmainmemphis.net for details. The Circuit Playhouse will present “Zombies diabetes-management from the Beyond” through Oct. 28 at Circuit, 51 »Legal Series seminar titled “Surviving Germantown Community Theatre will class Tuesday, Oct. 30, S. Cooper St. Visit playhouseonthesquare.org. from 5 p.m. to 7 p.m. present the regional premiere of “Twilight of the Legal Minefield of Managing at the hospital’s Total the Gods” Oct. 26 to Nov. 11 at the theater, The Mid-South Cartoonists Association Employee Absenteeism” Tuesday, Oct. Joint Center, 3960 New 3037 Forest Hill-Irene Road. For more informa- presents the 25 Years of Drawing Funny art Covington Pike. Call 516- tion, visit germantowncommunitytheatre.org show in Adam B. Shaw Studio, 2547 Broad Ave. 30, from 11:30 a.m. to 1 p.m. at its office, 5038 to register. or call 754-2680. The show will run through Nov. 3. Visit mid- southcartoonists.com. 3693 Tyndale Drive. The speaker is Christian Brothers Germantown Performing Arts Centre University will host will host a concert by saxophonist Brian The Buckman Performing Arts Center at St. attorney Tim Bland of Ford & Harrison bestselling author Andy “Breeze” Cayolle as part of its Jazz in the Box Mary’s School will host an opening reception Andrews at its fall M.L. series Friday, Oct. 19, at 8:30 p.m. at GPAC, for “Explorations: New Works by Paula Kovarik LLP. Cost is $10 for members of the Seidman Town Hall Lec- 1801 Exeter Road. Buy tickets at gpacweb.com and Dorothy Northern” art exhibit Friday, Nov. ture Tuesday, Oct. 30, at or call 751-7500. 2, from 5 p.m. at 7 p.m. at the center, 60 Perkins BBB or Memphis Bar Association and 7 p.m. in the University Road Extended. Visit buckmanartscenter.com. Theater on campus, $15 for nonmembers. R.S.V.P. to Cheryl 650 East Parkway S. Andrews is author of Stewart at [email protected] “The Traveler’s Gift,” “The Noticer” and “How or 757-8603 by Friday, Oct. 26. Do You Kill 11 Million People.” Visit cbu.edu. Introducing the New Address of

Talk Shoppe and the Small Business Attorney Myra Hamilton » Community Chamber will present “The Mastermind Principle: Based on the Producer & Host of Success, Swagger & Power: Served Straight Up The Memphis Farmers Market will be open Book ‘Think & Grow Rich’ by Napoleon Hill” Radio Talk Show on KWAM 990 Saturday, Oct. 27, from 7 a.m. to 1 p.m. at Cen- Wednesday, Oct. 31, from 9 a.m. to 10 a.m. at tral Station Pavilion, 545 G.E. Patterson Ave. at the Better Business Bureau, 3693 Tyndale Ave. South Front Street. Visit www.memphisfarmer- Cost is free. Visit smallbusinesschamber.com smarket.org for more information. or talkshoppe.biz.

The Memphis-MidSouth affiliate of Susan The Rotary Club of Memphis East will meet G. Komen for the Cure will host the annual Wednesday, Oct. 31, at noon at The Racquet Komen Race for the Cure Saturday, Oct. 27, Club of Memphis, 5111 Sanderlin Ave. Orpheum at 8 a.m. at The Shops of Saddle Creek, 7509 president and CEO Pat Halloran will speak. Poplar Ave. The race expo, including a survivor Cost is $17. R.S.V.P. to Lee Hughes at lm- breakfast and photo, a warm-up period and [email protected]. stretching, begins at 6:30 a.m., and the race will be followed by awards and entertainment. Kiwanis Club of Memphis will meet Wednes- Register at komenmemphis.org. day, Oct. 31, from noon to 1 p.m. at The Peabody hotel, 149 Union Ave. Cost is $25 for Chucalissa archaeological site will host a nonmembers. volunteer day Saturday, Oct. 27, from 9 a.m. to 1 p.m. at Chucalissa, 1987 Indian Village Drive. Memphis Botanic Garden will hold Farm-

Volunteers will assist in sorting artifacts and ers’ Market at the Garden Wednesday, Oct. 31, Photography by Meredith Fentress-Charleston scanning photographs for Chucalissa’s digital from 2 p.m. to 6 p.m. at 750 Cherry Road. Visit archive project. Visit memphis.edu/chucalissa memphisbotanicgarden.com. for details. The Memphis Light, Gas and Water Division Hamilton Entertainment & Remington College-Memphis Campus will board of commissioners will meet Thursday, celebrate its 25th anniversary Saturday, Oct. Nov. 1, at 1:30 p.m. at the MLGW administration 27, from 10 a.m. to 2 p.m. on campus, 2710 building, 220 S. Main St. Visit mlgw.com for an Employment Law, LLC Nonconnah Blvd. The event will include kids’ agenda. activities, music, health checks and more. Cost is free. Call 800-448-6405. Cooper Young Night Out will be held Thurs- day, Nov. 1, from 5 p.m. to 9 p.m. at businesses The University of Memphis Cecil C. in the Cooper-Young neighborhood. Visit coop- Humphreys School of Law will hold its 50th eryoung.biz for a list of activities. anniversary celebration Saturday, Oct. 27, at www.hamiltonentertainmentemploymentlawgroup.com 6:30 p.m. at the law school, 1 N. Front St. Visit The Marcus W. Orr Center for the Humani- memphis.edu/alumni/law50th for details and ties at the University of Memphis will host a 8295 Tournament Drive, Suite 150, Memphis, TN 38125 tickets. lecture by Deborah Gray White, Rutgers Uni- Phone: 901-969-4582 Fax: 901-969-4401 versity Board of Governors professor of history My Urban Workspace will hold “Gluten-Free and women’s studies, Thursday, Nov. 1, at 6:30 Employment Email: [email protected] Cupcake Wars” as part of its Downtown cook- p.m. in the University Center theater. Her talk Entertainment Email: [email protected] ing class series Sunday, Oct. 28, from 2 p.m. is titled “Brown Sugar Melts: African American to 4 p.m. at its facility, 6 W. G.E. Patterson Ave. Women at the Turn of the Millennium.” Visit Attendees will learn how to make gluten-free memphis.edu/moch for details. 34 October 26-November 1, 2012 www.thememphisnews.com

Week of 10/15/12 - 10/21/12 crosswords The Weekly

Crossword Edited by Margie E. Burke The Weekly Crossword by Margie E. Burke ACROSS 1234 5678 9 10 11 12

1 Pyramid 13 14 15 scheme, e.g. 5 Juicy gossip 16 17 18

9 Sonic comeback 19 20 21 22 23 13 Boxcar rider 14 Muscle 24 25 26 27

connector 28 29 30 31 32 33 15 Attention getter 16 Bad sign 34 35 36 37 38 39 40

17 Part of MGM 41 42 43 18 Wound healer? 19 Body art 44 45 46

21 Throw out 47 48 49 50 23 Pester 24 Utterly detest 51 52 53 54 55 56

26 Cobain's band 57 58 59 60 61 62 63 28 The hoop in hoops 64 65 66 67 68 31 Burlap material 69 70 71 33 Crowd noise 34 French farewell 72 73 74 36 Bargain settings Copyright 2012 by The Puzzle Syndicate 41 Took a tumble 42 Lukewarm 3 Help in a holdup 42 Vintage toy 54 Fire remnant 43 Apple discard 4 Calendar page material 56 Bus terminal 44 Show 5 Bite the dust 45 Tofu source 59 Belted out a tune partisanship 6 Gaga about 46 Crockpot meal 61 Cathedral 46 Yarn quantity 7 Summer TV fare 49 Gunpowder section 47 Arrox ___ pollo 8 Like some DVDs ingredient 62 Source of shade 48 Tirade 9 Break bread 51 Kind of wave 63 Tall tale 50 Auction unit 10 Special occa- 52 Literary twist 65 Flock member 51 Antique photo sion dishes 53 Now or _____ 67 Additionally 55 Fudged the 11 Studly fellow facts 12 Last Greek letter 57 Steamed state 14 Clobbered, 58 Charitable gift biblically Answer to Last Week's Crossword 60 Jackson's bill 20 Waikiki's island 64 Bird of peace 22 Quick haircut BOSS REBUS S C OW 66 Slack off 25 Fix firmly ABET OVERT ALGA 68 Prefix for "legal" 27 Sweater style ROAR VERGE BARN or "normal" 28 Whitewater DEN I SE SEASONED 69 Once more vessel CURVE MA T 70 Caruso, for one 29 Notion ELATE I RRI TATED 71 All done 30 Breakfast drink JOB D I CKER GORE 72 Greek harp 32 Notebook filler EV I DENT BOREDOM 73 Thus 35 Put in office CEDE CORONA ADO 74 Many a 37Week Natural of rope 10/15/12 TREASURER - 10/21/12 DOYEN "Twilight" fan fiber DUB SNA I L 38 Yuletide song COVENANT B I DDER DOWN 39 The Kingston OVEN T I ARA MEMO 1 Bar purchase _____ L END OCTET AM I D 2 Vegetative state 40 Email folder ARTS REEVE NOTE

Sudoku Edited by Margie E. Burke  Edited by Margie E. Burke Difficulty : Easy HOWHOW TO TO SOLVE: PLAY 12n-3p Each row must contain the   numbers 1 to 9; each column must contain the numbers 1   to 9; and each set of 3 by 3 boxes must contain the  numbers 1 to 9.  Answer to Last Week's Sudoku                                     Copyright 2012 by The Puzzle Syndicate www.thememphisnews.com October 26-November 1, 2012 35 www.thememphisnews.com October 26 - November 1, 2012 35

public notices

DATED October 1, 2012 Wilson & Associates, P.L.L.C., having The sale held pursuant to this Notice Related Info Foreclosure Notices WILSON & ASSOCIATES, P.L.L.C., been appointed Successor Trustee. may be rescinded at the Successor Madison County Successor Trustee NOW, THEREFORE, notice is hereby Trustee’s option at any time. The right FOR SALE INFORMATION, VISIT WWW. given that the entire indebtedness has is reserved to adjourn the day of the Also read our daily edition, The Daily MYFIR.COM and WWW.REALTYTRAC. been declared due and payable; and sale to another day, time, and place News, in print or online every business COM that an agent of Wilson & Associates, certain without further publication, upon day for public notices for Memphis & NOTICE OF TRUSTEE’S SALE Oct. 12, 19, 26, 2012 Fhn11343 P.L.L.C., as Successor Trustee, by virtue announcement at the time and place Shelby County. WHEREAS, default has occurred of the power, duty, and authority vested for the sale set forth above. W&A No. Go to www.memphisdailynews.com or in the performance of the covenants, NOTICE OF TRUSTEE’S SALE in and imposed upon said Successor 726‑111996 call 683.NEWS for more information. terms, and conditions of a Deed of Trust WHEREAS, default has occurred in the Trustee will, on November 8, 2012 on DATED October 8, 2012 Note dated August 19, 2005, and the performance of the covenants, terms, or about 11:00 A.M., at the Madison WILSON & ASSOCIATES, P.L.L.C., Deed of Trust of even date securing the and conditions of a Deed of Trust Note County Courthouse, Jackson, Tennes‑ Successor Trustee same, recorded August 24, 2005, at dated June 28, 2002, and the Deed of see, offer for sale certain property here- FOR SALE INFORMATION, VISIT WWW. Book T1697, Page 667 in Office of the Trust of even date securing the same, inafter described to the highest bidder MYFIR.COM and WWW.REALTYTRAC. Register of Deeds for Madison County, recorded July 29, 2002, at Book T1395, FOR CASH, free from the statutory right COM Oct. 12, 19, 26, 2012 Fhn11346 Tennessee, executed by Joe L. Guyton Page 433 in Office of the Register of of redemption, homestead, dower, and Oct. 12, 19, 26, 2012 Fhn11344 and Nancy Y. Guyton, conveying certain Deeds for Madison County, Tennessee, all other exemptions which are expressly NOTICE OF TRUSTEE’S SALE property therein described to Larry N. executed by Efrain Rivera and Maria Del waived in the Deed of Trust, said property NOTICE OF TRUSTEE’S SALE WHEREAS, default has occurred in the Westbrook, Esq. as Trustee for Mort- Carmen Ouelis-Gadea, conveying certain being real estate situated in Madison WHEREAS, default has occurred in the performance of the covenants, terms, gage Electronic Registration Systems, property therein described to Arnold County, Tennessee, and being more performance of the covenants, terms, and conditions of a Deed of Trust Note Inc., as nominee for PHH Mortgage M. Weiss, Esq., 208 Adams Avenue, particularly described as follows: and conditions of a Deed of Trust Note dated July 14, 2005, and the Deed of Services, its successors and assigns; Memphis, TN 38103 as Trustee for Lying and being in Madison County, dated January 31, 2006, and the Deed Trust of even date securing the same, and the undersigned, Wilson & Associ- Wells Fargo Home Mortgage, Inc.; and Tennessee and more particularly of Trust of even date securing the same, recorded July 27, 2005, at Book T1690, ates, P.L.L.C., having been appointed the undersigned, Wilson & Associates, described as follows: recorded February 3, 2006, at Book Page 137 in Office of the Register of Successor Trustee. P.L.L.C., having been appointed Suc- Beginning at an iron pin on the T1735, Page 364 in Office of the Reg- Deeds for Madison County, Tennessee, NOW, THEREFORE, notice is hereby cessor Trustee. South margin of Clairpointe Cove ister of Deeds for Madison County, Ten- executed by Margaret J. Mullins, convey- given that the entire indebtedness has NOW, THEREFORE, notice is hereby at the Northeast corner of Lot 212, nessee, executed by Gregory May and ing certain property therein described to been declared due and payable; and given that the entire indebtedness has Section II, Briar Hill Subdivision as Paula May, conveying certain property Group 9, Inc. as Trustee for Washington that an agent of Wilson & Associates, been declared due and payable; and recorded in Plat Book 8, page 4 in the therein described to Arnold M. Weiss, Mutual Bank, FA, a federal association; P.L.L.C., as Successor Trustee, by virtue that an agent of Wilson & Associates, Register’s Office of Madison County, Esq., Shelby County as Trustee for Wells and the undersigned, Wilson & Associ- of the power, duty, and authority vested P.L.L.C., as Successor Trustee, by virtue Tennessee; thence with the South Fargo Bank, N.A.; and the undersigned, ates, P.L.L.C., having been appointed in and imposed upon said Successor of the power, duty, and authority vested margin of Clairpointe Cove following Wilson & Associates, P.L.L.C., having Successor Trustee. Trustee will, on November 8, 2012 on in and imposed upon said Successor a curve, Radius of 47 feet, to the left been appointed Successor Trustee. NOW, THEREFORE, notice is hereby or about 11:00 A.M., at the Madison Trustee will, on November 8, 2012 on a distance of 48.35 feet to an iron NOW, THEREFORE, notice is hereby given that the entire indebtedness has County Courthouse, Jackson, Tennes‑ or about 11:00 A.M., at the Madison pin at the Southwest corner of Lot given that the entire indebtedness has been declared due and payable; and see, offer for sale certain property here- County Courthouse, Jackson, Tennes‑ 210; thence with the South line of Lot been declared due and payable; and that an agent of Wilson & Associates, inafter described to the highest bidder see, offer for sale certain property here- 210 South 57 degrees 39 minutes 54 that an agent of Wilson & Associates, P.L.L.C., as Successor Trustee, by virtue FOR CASH, free from the statutory right inafter described to the highest bidder seconds East a distance of 133.92 P.L.L.C., as Successor Trustee, by virtue of the power, duty, and authority vested of redemption, homestead, dower, and FOR CASH, free from the statutory right feet to an iron pin on the West line of the power, duty, and authority vested in and imposed upon said Successor all other exemptions which are expressly of redemption, homestead, dower, and of Lot 118; thence South 2 degrees in and imposed upon said Successor Trustee will, on November 8, 2012 on waived in the Deed of Trust, said property all other exemptions which are expressly 51 minutes 28 seconds West a dis‑ Trustee will, on November 8, 2012 on or about 11:00 A.M., at the Madison being real estate situated in Madison waived in the Deed of Trust, said property tance of 55 feet to an iron pin at the or about 11:00 A.M., at the Madison County Courthouse, Jackson, Tennes‑ County, Tennessee, and being more being real estate situated in Madison Northeast corner of Lot 117; thence County Courthouse, Jackson, Tennes‑ see, offer for sale certain property here- particularly described as follows: County, Tennessee, and being more with the North line of Lot 117 South see, offer for sale certain property here- inafter described to the highest bidder Lot Number 9 in Block Number 5 of the particularly described as follows: 82 degrees 48 minutes 20 seconds inafter described to the highest bidder FOR CASH, free from the statutory right Walnut Grove Subdivision, appearing Lot 76, Carroll Station Subdivision, West a distance of 79.34 feet to an FOR CASH, free from the statutory right of redemption, homestead, dower, and of record in Plat Book 1, Page 41, in Section V, as shown on plat of re‑ iron pin at the Northeast corner of Lot of redemption, homestead, dower, and all other exemptions which are expressly the said Register’s Office. cord in Plat Book 7, Page 82, in the 116; thence with the North line of Lot all other exemptions which are expressly waived in the Deed of Trust, said property ALSO KNOWN AS: 208 Walnut Street, Register’s Office of Madison County, 116 North 88 degrees 43 minutes waived in the Deed of Trust, said property being real estate situated in Madison Jackson, Tennessee 38301 Tennessee, to which plat reference 13 seconds West a distance of 75 being real estate situated in Madison County, Tennessee, and being more The HB 3588 letter was mailed to the is hereby made for a more particular feet to an iron pin at the Southeast County, Tennessee, and being more particularly described as follows: borrower(s) pursuant to Tennessee Code description of said property. corner of Lot 212; thence with the particularly described as follows: Lying and being located in the 5th Civil Annotated 35-5-117. This sale is subject ALSO KNOWN AS: 619 Gettysburg East line of Lot 212 North 1 degree 16 BEING Lot 16 in Section V of Indian District, County of Madison, State of to all matters shown on any applicable Drive, Jackson, Tennessee 38305 minutes 47 seconds East a distance Hills Subdivision, a plat of which ap‑ Tennessee; all that certain parcel or recorded plat; any unpaid taxes; any The HB 3588 letter was mailed to the of 113 feet to the point of beginning. pears of record in Plat Book 4, Page tract of land known as: restrictive covenants, easements, or borrower(s) pursuant to Tennessee Code Being Lot 211, Section II, Briar Hill 23, in the Registers Office of Madison Being the Northern portion of Lot setback lines that may be applicable; Annotated 35-5-117. This sale is subject Subdivision platted as aforesaid, as County, Tennessee, reference to Number 5, Block 7 of the Walnut any statutory rights of redemption of any to all matters shown on any applicable surveyed by David Hall Land Survey‑ which plat is hereby made for a more Grove Subdivision of Highland Park governmental agency, state or federal; recorded plat; any unpaid taxes; any ing Company, R.L.S. Number 943, on particular description of said lot show‑ Addition to the City of Jackson, Ten‑ any prior liens or encumbrances as well restrictive covenants, easements, or January 21, 2000. ing its locations and the length and nessee, a plat of which subdivision as any priority created by a fixture filing; setback lines that may be applicable; ALSO KNOWN AS: 50 Clairpointe direction of its boundary lines. is recorded in Plat Book 1, Page 41, and to any matter that an accurate survey any statutory rights of redemption of any Cove, Jackson, Tennessee 38305 ALSO KNOWN AS: 20 Live Oak Place, in the Register’s Office of Madison of the premises might disclose. In addi- governmental agency, state or federal; The HB 3588 letter was mailed to the Jackson, Tennessee 38305‑1601 County, and being more particularly tion, the following parties may claim an any prior liens or encumbrances as well borrower(s) pursuant to Tennessee Code The HB 3588 letter was mailed to the described as follows: interest in the above-referenced prop- as any priority created by a fixture filing; Annotated 35-5-117. This sale is subject borrower(s) pursuant to Tennessee Code Beginning at an iron pin in the West erty: Joe L. Guyton; Nancy Y. Guyton; and to any matter that an accurate survey to all matters shown on any applicable Annotated 35-5-117. This sale is subject margin of Prospect Street at a point Waldrop and Hall, P.A.; City of Jackson, of the premises might disclose. In addi- recorded plat; any unpaid taxes; any to all matters shown on any applicable 110 feet North of the North margin Tennessee; Internal Revenue Service tion, the following parties may claim an restrictive covenants, easements, or recorded plat; any unpaid taxes; any of Walnut Avenue; said pin being 30 On or about September 19, 2011, interest in the above-referenced prop- setback lines that may be applicable; restrictive covenants, easements, or feet from the centerline of Prospect the United States of America, Internal erty: Efrain Rivera; Maria Del Carmen any statutory rights of redemption of any setback lines that may be applicable; Street; runs thence West a distance Revenue Service, filed a federal tax lien Ouelis‑Gadea; Union Planters National governmental agency, state or federal; any statutory rights of redemption of any of 70 feet to an iron pin in the East against the Defendant, Joseph L. Guyton Bank; Curtis L. Hudson; Union Planters any prior liens or encumbrances as governmental agency, state or federal; line of Lloyd K. Rush and wife; thence and Nancy Y. Guyton, recorded in the National Bank well as any priority created by a fixture any prior liens or encumbrances as with the East line of Rush, North a Register’s Office of Madison County, The sale held pursuant to this Notice filing; and to any matter that an accurate well as any priority created by a fixture distance of 110 feet to an iron pin in Tennessee, at Book L56, Page 162. Any may be rescinded at the Successor survey of the premises might disclose. filing; and to any matter that an accurate the South margin of a 10 foot alley; interest in the property held by the United Trustee’s option at any time. The right In addition, the following parties may survey of the premises might disclose. thence with the South margin of said States of America, Internal Revenue is reserved to adjourn the day of the claim an interest in the above-referenced In addition, the following parties may alley East a distance of 70 feet to an Service, by virtue of the aforementioned sale to another day, time, and place property: James E. Hurt Jr.; Wells Fargo claim an interest in the above-referenced iron pin in the West margin of Pros‑ federal tax lien is both junior and inferior certain without further publication, upon Financial Bank; Tennessee Department property: Gregory May; Paula May; US pect Street; thence with the West to the interests held by JPMorgan Chase announcement at the time and place of Revenue Bank National Association, as Trustee margin of Prospect Street, South a Bank, National Association. Provided, for the sale set forth above. W&A No. On or about January 9, 2007, the State for SASCO Mortgage Loan Trust 2006‑ distance of 110 feet to the point of however, that the United States of 1286‑118635 of Tennessee, filed a tax lien against WF2; Wells Fargo Home Mortgage; beginning. America, Internal Revenue Service, pur- DATED October 5, 2012 the Defendant, James E. Hurt, recorded Charis Davis ALSO KNOWN AS: 1187 Prospect Av‑ suant to 26 U.S.C. §7425 and 28 U.S.C. WILSON & ASSOCIATES, P.L.L.C., in the Register’s Office of Madison The sale held pursuant to this Notice enue, Jackson, Tennessee 38301 §2410(c), shall have one hundred and Successor Trustee County, Tennessee, at Book L49, Page may be rescinded at the Successor The HB 3588 letter was mailed to twenty (120) days from the date of the FOR SALE INFORMATION, VISIT WWW. 300. Any interest in the property held Trustee’s option at any time. The right the borrower(s) pursuant to Tennessee sale within which to redeem the property MYFIR.COM and WWW.REALTYTRAC. by the State of Tennessee, by virtue is reserved to adjourn the day of the Code Annotated 35-5-117. This sale is by virtue of its tax lien(s) herein by pay- COM of the aforementioned tax lien is both sale to another day, time, and place subject to all matters shown on any ap- ment of the actual amount paid by the Oct. 12, 19, 26, 2012 Fhn11345 junior and inferior to the interests held certain without further publication, upon plicable recorded plat; any unpaid taxes; purchaser at the foreclosure sale, plus by BANK OF AMERICA, N.A., SUCCES- announcement at the time and place any restrictive covenants, easements, or any amount in excess of the expenses NOTICE OF TRUSTEE’S SALE SOR BY MERGER TO BAC HOME LOANS for the sale set forth above. W&A No. setback lines that may be applicable; necessarily incurred in connection with WHEREAS, default has occurred in the SERVICING, LP FKA COUNTRYWIDE 1286‑181365 any statutory rights of redemption of any such property, less the income from performance of the covenants, terms, HOME LOANS SERVICING LP. Provided, DATED October 4, 2012 governmental agency, state or federal; such property, plus a reasonable rental and conditions of a Deed of Trust Note however, that the State of Tennessee, WILSON & ASSOCIATES, P.L.L.C., any prior liens or encumbrances as well value of such property. As required by dated April 20, 2005, and the Deed of pursuant to Tennessee Code Annotated Successor Trustee as any priority created by a fixture -fil 26 U.S.C. §7425(b), the United States Trust of even date securing the same, §67-1-133, shall have one hundred and FOR SALE INFORMATION, VISIT WWW. ing; and to any matter that an accurate of America, Internal Revenue Service recorded May 4, 2005, at Book T1668, twenty (120) days from the date of the MYFIR.COM and WWW.REALTYTRAC. survey of the premises might disclose. has been given timely notice of this Page 448 in Office of the Register of sale within which to redeem the property COM action. Deeds for Madison County, Tennessee, by virtue of its tax lien(s) herein by pay- Continued on page 36 The sale held pursuant to this Notice executed by James E. Hurt, Jr., convey- ment of the actual amount paid by the may be rescinded at the Successor ing certain property therein described purchaser at the foreclosure sale, plus Trustee’s option at any time. The right to Robert M. Wilson, Jr. as Trustee any amount in excess of the expenses is reserved to adjourn the day of the for Mortgage Electronic Registration necessarily incurred in connection with sale to another day, time, and place Systems, Inc., as a separate corpora- such property, less the income from The Memphis News certain without further publication, upon tion that is acting solely as a nominee such property, plus a reasonable rental announcement at the time and place for America’s Wholesale Lender and value of such property. As required by for the sale set forth above. W&A No. America’s Wholesale Lender’s succes- law, the State of Tennessee has been 3 700‑211807 sors and assigns; and the undersigned, given timely notice of this action. Call 68 -NEWS 36 October 26-November 1, 2012 www.thememphisnews.com 36 October 26 - November 1, 2012 www.thememphisnews.com

public notices public notices

Foreclosure Notices Trustee’s option at any time. The right COM & Associates, P.L.L.C., having been Subdivision, a plat of which appears Continued from page 35 is reserved to adjourn the day of the Oct. 19, 26, Nov. 2, 2012 Fhn11350 appointed Successor Trustee. of record in the Register’s Office of sale to another day, time, and place NOW, THEREFORE, notice is hereby Madison County, Tennessee, in Plat In addition, the following parties may certain without further publication, upon NOTICE OF TRUSTEE’S SALE given that the entire indebtedness has Book 7, Page 90. claim an interest in the above-referenced announcement at the time and place WHEREAS, default has occurred in the been declared due and payable; and ALSO KNOWN AS: 94 Scottland Drive, property: Margaret J. Mullins for the sale set forth above. W&A No. performance of the covenants, terms, that an agent of Wilson & Associates, Jackson, Tennessee 38301‑7647 The sale held pursuant to this Notice 1286‑154011 and conditions of a Deed of Trust Note P.L.L.C., as Successor Trustee, by virtue The HB 3588 letter was mailed to may be rescinded at the Successor DATED October 5, 2012 dated December 8, 2006, and the Deed of the power, duty, and authority vested the borrower(s) pursuant to Tennessee Trustee’s option at any time. The right WILSON & ASSOCIATES, P.L.L.C., of Trust of even date securing the same, in and imposed upon said Successor Code Annotated 35-5-117. This sale is is reserved to adjourn the day of the Successor Trustee recorded December 14, 2006, at Book Trustee will, on November 15, 2012 on subject to all matters shown on any ap- sale to another day, time, and place FOR SALE INFORMATION, VISIT WWW. T1783, Page 541 in Office of the Register or about 11:00 A.M., at the Madison plicable recorded plat; any unpaid taxes; certain without further publication, upon MYFIR.COM and WWW.REALTYTRAC. of Deeds for Madison County, Tennes- County Courthouse, Jackson, Tennes‑ any restrictive covenants, easements, or announcement at the time and place COM see, executed by Theodore White and see, offer for sale certain property here- setback lines that may be applicable; any for the sale set forth above. W&A No. Oct. 19, 26, Nov. 2, 2012 Fhn11349 Gloria Robinson White, conveying certain inafter described to the highest bidder statutory rights of redemption of any gov- 1356‑225901 property therein described to Arnold M. FOR CASH, free from the statutory right ernmental agency, state or federal; any DATED October 4, 2012 NOTICE OF TRUSTEE’S SALE Weiss, Esq., Shelby County a resident of of redemption, homestead, dower, and prior liens or encumbrances as well as WILSON & ASSOCIATES, P.L.L.C., WHEREAS, default has occurred in the 208 Adams Avenue, Memphis TN 38103 all other exemptions which are expressly any priority created by a fixture filing; and Successor Trustee performance of the covenants, terms, as Trustee for Wells Fargo Bank, N.A.; waived in the Deed of Trust, said property to any matter that an accurate survey of FOR SALE INFORMATION, VISIT WWW. and conditions of a Deed of Trust Note and the undersigned, Wilson & Associ- being real estate situated in Madison the premises might disclose. In addition, MYFIR.COM and WWW.REALTYTRAC. dated November 21, 2002, and the ates, P.L.L.C., having been appointed County, Tennessee, and being more the following parties may claim an inter- COM Deed of Trust of even date securing the Successor Trustee. particularly described as follows: est in the above-referenced property: Oct. 12, 19, 26, 2012 Fhn11347 same, recorded November 22, 2002, at NOW, THEREFORE, notice is hereby Lying and being in Madison County, Walton Wimberley; Leah Wimberley Book T1426, Page 558 in Office of the given that the entire indebtedness has Tennessee and more particularly The sale held pursuant to this Notice NOTICE OF TRUSTEE’S SALE Register of Deeds for Madison County, been declared due and payable; and described as follows: may be rescinded at the Successor WHEREAS, default has occurred Tennessee, executed by Mose Robinson that an agent of Wilson & Associates, Lot No. 305, Section III, Wrights Mill Trustee’s option at any time. The right in the performance of the covenants, and Daisy Woods a/k/a Daisy Robinson, P.L.L.C., as Successor Trustee, by virtue Subdivision, a plat of which appears is reserved to adjourn the day of the terms, and conditions of a Deed of Trust conveying certain property therein de- of the power, duty, and authority vested of record in Plat Book 10, Page 135, sale to another day, time, and place Note dated October 21, 2005, and the scribed to Arnold M. Weiss, Esq., Shelby in and imposed upon said Successor Register’s Office of Madison County, certain without further publication, upon Deed of Trust of even date securing the County as Trustee for Wells Fargo Home Trustee will, on November 15, 2012 on Tennessee, reference to which plat announcement at the time and place same, recorded November 3, 2005, at Mortgage, Inc.; and the undersigned, or about 11:00 A.M., at the Madison is hereby made for a more particular for the sale set forth above. W&A No. Book 1715, Page 508 in Office of the Wilson & Associates, P.L.L.C., having County Courthouse, Jackson, Tennes‑ description of said lot showing its 1286‑217834 Register of Deeds for Madison County, been appointed Successor Trustee. see, offer for sale certain property here- location and the length and direction DATED October 15, 2012 Tennessee, executed by Gustavie Miller NOW, THEREFORE, notice is hereby inafter described to the highest bidder of its boundaries. WILSON & ASSOCIATES, P.L.L.C., and Cynthia Miller, conveying certain given that the entire indebtedness has FOR CASH, free from the statutory right ALSO KNOWN AS: 48 Flagstone Drive, Successor Trustee property therein described to Creations been declared due and payable; and of redemption, homestead, dower, and Jackson, Tennessee 38305‑8577 FOR SALE INFORMATION, VISIT WWW. Title as Trustee for New Century Mort- that an agent of Wilson & Associates, all other exemptions which are expressly The HB 3588 letter was mailed to MYFIR.COM and WWW.REALTYTRAC. gage Corporation; and the undersigned, P.L.L.C., as Successor Trustee, by virtue waived in the Deed of Trust, said property the borrower(s) pursuant to Tennessee COM Wilson & Associates, P.L.L.C., having of the power, duty, and authority vested being real estate situated in Madison Code Annotated 35-5-117. This sale is Oct. 19, 26, Nov. 2, 2012 Fhn11353 been appointed Successor Trustee. in and imposed upon said Successor County, Tennessee, and being more subject to all matters shown on any ap- NOW, THEREFORE, notice is hereby Trustee will, on November 15, 2012 on particularly described as follows: plicable recorded plat; any unpaid taxes; NOTICE OF TRUSTEE’S SALE given that the entire indebtedness has or about 11:00 A.M., at the Madison Being Lot Number 613 in Section VI any restrictive covenants, easements, or WHEREAS, default has occurred been declared due and payable; and County Courthouse, Jackson, Tennes‑ of Wrights Mill Subdivision, a plat of setback lines that may be applicable; in the performance of the covenants, that an agent of Wilson & Associates, see, offer for sale certain property here- which appears of record in Plat Book any statutory rights of redemption of any terms, and conditions of a Deed of Trust P.L.L.C., as Successor Trustee, by virtue inafter described to the highest bidder 10, Page 320, in the Register’s Office governmental agency, state or federal; Note dated February 1, 2002, and the of the power, duty, and authority vested FOR CASH, free from the statutory right of Madison County, Tennessee, refer‑ any prior liens or encumbrances as well Deed of Trust of even date securing the in and imposed upon said Successor of redemption, homestead, dower, and ence to which plat is hereby made for as any priority created by a fixture -fil same, recorded February 11, 2002, at Trustee will, on November 15, 2012 on all other exemptions which are expressly a more particular description of said ing; and to any matter that an accurate Book T1358, Page 263 in Office of the or about 11:00 A.M., at the Madison waived in the Deed of Trust, said property lot showing its location and length and survey of the premises might disclose. Register of Deeds for Madison County, County Courthouse, Jackson, Tennes‑ being real estate situated in Madison direction of its boundary lines. In addition, the following parties may Tennessee, executed by John Long and see, offer for sale certain property here- County, Tennessee, and being more ALSO KNOWN AS: 40 Mossy Oak Trail, claim an interest in the above-referenced Penny Long, conveying certain property inafter described to the highest bidder particularly described as follows: Jackson, Tennessee 38305 property: Tad Wingo; Tara Wingo therein described to Mary Frances Rudy FOR CASH, free from the statutory right Beginning at a stake in the Eastern The HB 3588 letter was mailed to The sale held pursuant to this Notice as Trustee for ABN AMRO Mortgage of redemption, homestead, dower, and margin of Caruthers Drive, said stake the borrower(s) pursuant to Tennessee may be rescinded at the Successor Group, Inc.; and the undersigned, Wilson all other exemptions which are expressly being at the Western corner of Lot Code Annotated 35-5-117. This sale is Trustee’s option at any time. The right & Associates, P.L.L.C., having been ap- waived in the Deed of Trust, said property Number 21 in the Browns Heights subject to all matters shown on any ap- is reserved to adjourn the day of the pointed Successor Trustee. being real estate situated in Madison Subdivision; and runs thence with plicable recorded plat; any unpaid taxes; sale to another day, time, and place NOW, THEREFORE, notice is hereby County, Tennessee, and being more the Western line of said Lot Number any restrictive covenants, easements, or certain without further publication, upon given that the entire indebtedness has particularly described as follows: 21 (South 42 degrees East) South‑ setback lines that may be applicable; any announcement at the time and place been declared due and payable; and Being in the City of Jackson, Madison easterly 145 feet, more or less to a statutory rights of redemption of any gov- for the sale set forth above. W&A No. that an agent of Wilson & Associates, County, Tennessee, and being more stake at the Southern corner of said ernmental agency, state or federal; any 1286‑198722 P.L.L.C., as Successor Trustee, by virtue particularly bounded and described Lot Number 21; thence South 56 prior liens or encumbrances as well as DATED October 15, 2012 of the power, duty, and authority vested as follows: Beginning at an iron pin degrees West 108 feet to a stake any priority created by a fixture filing; and WILSON & ASSOCIATES, P.L.L.C., in and imposed upon said Successor on the East margin of Webber Street at the corner of Lot 23; thence North to any matter that an accurate survey of Successor Trustee Trustee will, on November 29, 2012 on (25 feet at right angles from Center‑ 20 degrees West Northwesterly with the premises might disclose. In addition, FOR SALE INFORMATION, VISIT WWW. or about 11:00 A.M., at the Madison line) at the Northwest corner of Lot the line of Lot Number 23 a distance the following parties may claim an inter- MYFIR.COM and WWW.REALTYTRAC. County Courthouse, Jackson, Tennes‑ 2, Southhall Dickson Addition, as of 135 feet to a stake in the South est in the above-referenced property: COM see, offer for sale certain property here- recorded in Plat Book 1 at Page 264 margin of Caruthers Drive; thence Theodore White; Gloria Robinson White; Oct. 19, 26, Nov. 2, 2012 Fhn11352 inafter described to the highest bidder in the Register’s Office of Madison following the Southern margin of Mortgage Electronic Registration Sys‑ FOR CASH, free from the statutory right County, Tennessee; thence with the Caruthers Drive in a Northeasterly tems, Inc as nominee for SouthStar NOTICE OF TRUSTEE’S SALE of redemption, homestead, dower, and East margin of Webber Street North 3 direction 60 feet to the point of be‑ Funding, LLC; SouthStar Funding, Inc.; WHEREAS, default has occurred in the all other exemptions which are expressly degrees 59 minutes East a distance ginning. Being Lot Number 22 of the Wells Fargo Home Mortgage; US Bank performance of the covenants, terms, waived in the Deed of Trust, said property of 78.11 feet to an iron pin at the Brown Heights Subdivision Addition National Association, as Trustee for and conditions of a Deed of Trust Note being real estate situated in Madison Southwest corner of Lot 4; thence a plat of which appears of record in Citigroup Mortgage Loan dated November 21, 2009, and the County, Tennessee, and being more with the South line of Lot 4 South 86 Plat Book 1, Page 199 in the said The sale held pursuant to this Notice Deed of Trust of even date securing the particularly described as follows: degrees 39 minutes East a distance Register’s Office. may be rescinded at the Successor same, recorded December 7, 2009, at Being Lot Twenty (20) of Whispering of 195 feet to an iron pin on the West ALSO KNOWN AS: 43 Carruthers Trustee’s option at any time. The right Book T1872, Page 1540 in Office of the Hills Subdivision, Section II, a plat of line of Lot 25, Briarcliff Subdivision; Drive, Jackson, Tennessee 38301 is reserved to adjourn the day of the Register of Deeds for Madison County, which appears of record in Plat Book thence South 3 degrees 48 minutes The HB 3588 letter was mailed to sale to another day, time, and place Tennessee, executed by Walton Wim- 4, at page 339, in the Register’s Of‑ West a distance of 76.90 feet to an the borrower(s) pursuant to Tennessee certain without further publication, upon berley and Leah Wimberley, conveying fice of Madison County, Tennessee, iron pin at the Northeast corner of Lot Code Annotated 35-5-117. This sale is announcement at the time and place certain property therein described to Old reference to which plat is made for a 2; thence with the north line of Lot subject to all matters shown on any ap- for the sale set forth above. W&A No. Republic Title as Trustee for Mortgage more particular described of said lot 2 North 87 degrees 00 minutes 26 plicable recorded plat; any unpaid taxes; 1286‑169937 Electronic Registration Systems as showing it’s boundary lines, including seconds West a distance of 195.24 any restrictive covenants, easements, or DATED October 15, 2012 nominee for Access National Mortgage memberships and/or ownerships of feet to the point of beginning. Being setback lines that may be applicable; WILSON & ASSOCIATES, P.L.L.C., Corporation and Access National Mort- non‑municipal water and/or sewer Lot 3, Southhall Dickson Addition, any statutory rights of redemption of any Successor Trustee gage Corporation’s successors and systems, if any. platted as aforesaid as surveyed by governmental agency, state or federal; FOR SALE INFORMATION, VISIT WWW. assigns; and the undersigned, Wilson ALSO KNOWN AS: 117 Whispering David Hall Land Surveying Company, any prior liens or encumbrances as well MYFIR.COM and WWW.REALTYTRAC. & Associates, P.L.L.C., having been Hills Drive, Jackson, Tennessee R.L.S. #943 on May 19, 1992. as any priority created by a fixture -fil COM appointed Successor Trustee. 38305‑8760 ALSO KNOWN AS: 102 Webber Street, ing; and to any matter that an accurate Oct. 19, 26, Nov. 2, 2012 Fhn11351 NOW, THEREFORE, notice is hereby The HB 3588 letter was mailed to Jackson, Tennessee 38301 survey of the premises might disclose. given that the entire indebtedness has the borrower(s) pursuant to Tennessee The HB 3588 letter was mailed to In addition, the following parties may NOTICE OF TRUSTEE’S SALE been declared due and payable; and Code Annotated 35-5-117. This sale is the borrower(s) pursuant to Tennessee claim an interest in the above-referenced WHEREAS, default has occurred that an agent of Wilson & Associates, subject to all matters shown on any ap- Code Annotated 35-5-117. This sale is property: Mose Robinson; Daisy Woods in the performance of the covenants, P.L.L.C., as Successor Trustee, by virtue plicable recorded plat; any unpaid taxes; subject to all matters shown on any ap- a/k/a Daisy Robinson terms, and conditions of a Deed of of the power, duty, and authority vested any restrictive covenants, easements, or plicable recorded plat; any unpaid taxes; The sale held pursuant to this Notice Trust Note dated November 20, 2007, in and imposed upon said Successor setback lines that may be applicable; any any restrictive covenants, easements, or may be rescinded at the Successor and the Deed of Trust of even date Trustee will, on November 15, 2012 on statutory rights of redemption of any gov- setback lines that may be applicable; any Trustee’s option at any time. The right securing the same, recorded November or about 11:00 A.M., at the Madison ernmental agency, state or federal; any statutory rights of redemption of any gov- is reserved to adjourn the day of the 28, 2007, at Book T1818, Page 452 County Courthouse, Jackson, Tennes‑ prior liens or encumbrances as well as ernmental agency, state or federal; any sale to another day, time, and place in Office of the Register of Deeds for see, offer for sale certain property here- any priority created by a fixture filing; and prior liens or encumbrances as well as certain without further publication, upon Madison County, Tennessee, executed inafter described to the highest bidder to any matter that an accurate survey of any priority created by a fixture filing; and announcement at the time and place by Tad Wingo and Tara Wingo, conveying FOR CASH, free from the statutory right the premises might disclose. In addition, to any matter that an accurate survey of for the sale set forth above. W&A No. certain property therein described to of redemption, homestead, dower, and the following parties may claim an inter- the premises might disclose. In addition, 1286‑157883 John R. Moss as Trustee for Mortgage all other exemptions which are expressly est in the above-referenced property: the following parties may claim an inter- DATED October 4, 2012 Electronic Registration Systems, Inc., waived in the Deed of Trust, said property John Long; Penny Long; BancorpSouth; est in the above-referenced property: WILSON & ASSOCIATES, P.L.L.C., as a separate corporation that is acting being real estate situated in Madison Shoreline Funding LLC Gustavie Miller; Cynthia Miller Successor Trustee solely as a nominee for Renasant Bank County, Tennessee, and being more The sale held pursuant to this Notice The sale held pursuant to this Notice FOR SALE INFORMATION, VISIT WWW. and Renasant Bank’s successors and particularly described as follows: may be rescinded at the Successor may be rescinded at the Successor MYFIR.COM and WWW.REALTYTRAC. assigns; and the undersigned, Wilson Being Lot No. 8, Hirams Valley Trustee’s option at any time. The right www.thememphisnews.com October 26-November 1, 2012 37 www.thememphisnews.com October 26 - November 1, 2012 37

publicpublic notices notices

is reserved to adjourn the day of the COM Register of Deeds for Madison County, recorded April 1, 2004, at Book T1569, Related Info sale to another day, time, and place Oct. 26, Nov. 2, 9, 2012 Fhn11356 Tennessee, executed by Corey C. How Page 326 in Office of the Register of certain without further publication, upon and Teresa A. Wheetley, conveying Deeds for Madison County, Tennessee, announcement at the time and place NOTICE OF TRUSTEE’S SALE certain property therein described to executed by Ray T. Gonzales and Jamey Also read our daily edition, The Daily for the sale set forth above. W&A No. WHEREAS, default has occurred in the Pentecost Gleen and Rudd as Trustee Gonzales, conveying certain property News, in print or online every business 817‑204902 performance of the covenants, terms, for Mortgage Electronic Registration therein described to Arnold M. Weiss, day for public notices for Memphis & DATED October 19, 2012 and conditions of a Deed of Trust Note Systems, Inc. acting solely as a nominee Esq., 208 Adams Avenue, Memphis, TN Shelby County. WILSON & ASSOCIATES, P.L.L.C., dated April 29, 2005, and the Deed of for Freemont Investment & Loan and 38103 as Trustee for Wells Fargo Home Go to www.memphisdailynews.com or Successor Trustee Trust of even date securing the same, Freemont Investment & Loan’s succes- Mortgage, Inc.; and the undersigned, call 683.NEWS for more information. FOR SALE INFORMATION, VISIT WWW. recorded May 10, 2005, at Book T1670, sors and assigns; and the undersigned, Wilson & Associates, P.L.L.C., having MYFIR.COM and WWW.REALTYTRAC. Page 158 in Office of the Register of Wilson & Associates, P.L.L.C., having been appointed Successor Trustee. COM Deeds for Madison County, Tennes- been appointed Successor Trustee. NOW, THEREFORE, notice is hereby Oct. 26, Nov. 2, 9, 2012 Fhn11355 see, executed by Greg Hayes and Kim- NOW, THEREFORE, notice is hereby given that the entire indebtedness has berly Hayes, conveying certain property given that the entire indebtedness has been declared due and payable; and NOTICE OF TRUSTEE’S SALE therein described to Arnold M. Weiss, been declared due and payable; and that an agent of Wilson & Associates, Ellsworth, conveying certain property WHEREAS, default has occurred in the Esq., Shelby County as Trustee for Wells that an agent of Wilson & Associates, P.L.L.C., as Successor Trustee, by virtue therein described to Arnold M. Weiss, performance of the covenants, terms, Fargo Bank N.A.; and the undersigned, P.L.L.C., as Successor Trustee, by virtue of the power, duty, and authority vested Esq. as Trustee for Wells Fargo Bank, and conditions of a Deed of Trust Note Wilson & Associates, P.L.L.C., having of the power, duty, and authority vested in and imposed upon said Successor N.A.; and the undersigned, Wilson & dated May 7, 1999, and the Deed of been appointed Successor Trustee. in and imposed upon said Successor Trustee will, on November 29, 2012 on Associates, P.L.L.C., having been ap- Trust of even date securing the same, NOW, THEREFORE, notice is hereby Trustee will, on November 29, 2012 on or about 11:00 A.M., at the Madison pointed Successor Trustee. recorded May 17, 1999, at Book T1188, given that the entire indebtedness has or about 11:00 A.M., at the Madison County Courthouse, Jackson, Tennes‑ NOW, THEREFORE, notice is hereby Page 12 in Office of the Register of been declared due and payable; and County Courthouse, Jackson, Tennes‑ see, offer for sale certain property here- given that the entire indebtedness has Deeds for Madison County, Tennessee, that an agent of Wilson & Associates, see, offer for sale certain property here- inafter described to the highest bidder been declared due and payable; and executed by Michael D. Jones, Jr. and P.L.L.C., as Successor Trustee, by virtue inafter described to the highest bidder FOR CASH, free from the statutory right that an agent of Wilson & Associates, Michael Jones, conveying certain prop- of the power, duty, and authority vested FOR CASH, free from the statutory right of redemption, homestead, dower, and P.L.L.C., as Successor Trustee, by virtue erty therein described to James B. Webb, in and imposed upon said Successor of redemption, homestead, dower, and all other exemptions which are expressly of the power, duty, and authority vested Milan, TN 38358 as Trustee for Norwest Trustee will, on November 29, 2012 on all other exemptions which are expressly waived in the Deed of Trust, said property in and imposed upon said Successor Mortgage, Inc.; and the undersigned, or about 11:00 A.M., at the Madison waived in the Deed of Trust, said property being real estate situated in Madison Trustee will, on November 29, 2012 on Wilson & Associates, P.L.L.C., having County Courthouse, Jackson, Tennes‑ being real estate situated in Madison County, Tennessee, and being more or about 11:00 A.M., at the Madison been appointed Successor Trustee. see, offer for sale certain property here- County, Tennessee, and being more particularly described as follows: County Courthouse, Jackson, Tennes‑ NOW, THEREFORE, notice is hereby inafter described to the highest bidder particularly described as follows: Beginning at an iron pin in the North see, offer for sale certain property here- given that the entire indebtedness has FOR CASH, free from the statutory right Beginning at an iron pin on the West margin of Arlington Street, 30 feet inafter described to the highest bidder been declared due and payable; and of redemption, homestead, dower, and margin of Field Dale Drive (25 feet from the centerline of and being FOR CASH, free from the statutory right that an agent of Wilson & Associates, all other exemptions which are expressly at right angles from centerline) at the Southwest corner of Lot 23 of of redemption, homestead, dower, and P.L.L.C., as Successor Trustee, by virtue waived in the Deed of Trust, said property the Southeast corner of Lot 19; Lindsey Place Subdivision, a plat of all other exemptions which are expressly of the power, duty, and authority vested being real estate situated in Madison Section V, Dale Acres Subdivision as which appears of record in Plat Book waived in the Deed of Trust, said property in and imposed upon said Successor County, Tennessee, and being more recorded in Plat Book 7, Page 114 1, Page 49, in the Register’s Office being real estate situated in Madison Trustee will, on December 13, 2012 on particularly described as follows: in the Register’s Office of Madison of Madison County, Tennessee said County, Tennessee, and being more or about 11:00 A.M., at the Madison Tract 1: Being Lot 211 Laurel Creek, County, Tennessee; thence with the iron pin being 100 feet West of the particularly described as follows: County Courthouse, Jackson, Tennes‑ Section II as shown on a plat in Plat West margin of Field Dale Drive South West margin of Campbell Street; Beginning on a point in the South see, offer for sale certain property here- Book 8, Page 109, in the Register’s 3 degrees 39 minutes 39 seconds runs thence with the North margin of margin of Ashport Road, which point inafter described to the highest bidder Office of Madison County, Tennes‑ West a distance of 119 feet to an Arlington Street, South 89 degrees 16 is the Northeast corner of Drake and FOR CASH, free from the statutory right see. iron pin at the Northeast corner of minutes 10 seconds West 50 feet to the Northwest corner of the herein of redemption, homestead, dower, and Tract II: Being Lot No. 210, Section Lot 33, Section 1 as recorded in Plat an iron pin being the Southeast cor‑ described tract; thence from the point all other exemptions which are expressly II, Laurel Creek Subdivision, a plat of Book 4, Page 105 in said Register’s ner of Lot 21 of the above described of beginning, and with the South line waived in the Deed of Trust, said property which appears of record in Plat Book Office; thence with the North line of subdivision; runs thence with the East of Ashport Road, North 88 degrees being real estate situated in Madison 8, Page 109, in the Register’s Office Lot 33 North 84 degrees 36 minutes lien of Lot 21; due North 155 feet to 00 minutes 00 seconds East 186.00 County, Tennessee, and being more of Madison County, Tennessee, refer‑ West a distance of 170 feet to an iron an iron pin in the South margin of a feet to the Northwest corner of Pace; particularly described as follows: ence to which plat is made for a more pin on the East line of Lot 17; thence 15 foot alley; runs thence with the thence with the West line of Michael Beginning at an iron pin in the West particular description of said lot. with the East line of Lot 17 and 18, South margin of said alley; North Pace, then J. C. Pace, South 291.00 margin of Carruthers Drive, said point Tract III: Being Lot No. 324, Section Section V North 2 degrees 41 minutes 89 degrees 16 minutes 10 seconds feet to the Northeast corner of Drake; being 102 feet North of the North III, Laurel Creek Subdivision, a plat of 54 seconds East a distance of 119.05 East 50 feet to a fence corner being thence with Drake the following calls: margin of Scallions Drive; and runs which appears of record in Plat Book feet to a concrete monument at the the Northwest corner of Lot 23; runs South 88 degrees 00 minutes 00 thence North with the West margin 8, Page 109, in the Register’s Office Southwest corner of Lot 19; thence thence with the West line of Lot 23, seconds West 212.80 feet; North 05 of Carruthers Drive a distance of 60 of Madison County, Tennessee, refer‑ with the South line of Lot 19 South 84 due South 155 feet to the point of degrees 14 minutes 31 seconds East feet to an iron pin; runs thence West ence to which plat is made for a more degrees 36 minutes 30 seconds East beginning as surveyed by Surveying 293.16 feet to the point of beginning, with the South line of Lot Number 3 particular description of said lot. a distance of 172 feet to the point Services R.L.S. Number 1420 dated containing 1.33 acres. a distance of 150 feet to an iron pin; ALSO KNOWN AS: 74 Laurel Creek of beginning. Being Lot 35 section March 31, 1992, and being Lot 22 ALSO KNOWN AS: 170 Ashport Road, runs thence South a distance of 40 Drive, Jackson, Tennessee 38305 1, Dale Acres Subdivision platted of the above described Lindsey Place Humboldt, Tennessee 38343‑8100 feet to an iron pin at the North corner The HB 3588 letter was mailed to as aforesaid, as surveyed by David Subdivision. The HB 3588 letter was mailed to of Lot 57 of Browns Heights Addition; the borrower(s) pursuant to Tennessee Ball Land Surveying Company, R.L.S. ALSO KNOWN AS: 409 Arlington the borrower(s) pursuant to Tennessee runs thence South 63 degrees and 30 Code Annotated 35-5-117. This sale is Number 943, on April 20, 1998. Avenue, Jackson, Tennessee 38301‑ Code Annotated 35-5-117. This sale is minutes East a distance of 44.8 feet subject to all matters shown on any ap- ALSO KNOWN AS: 31 Fielddale Drive, 4816 subject to all matters shown on any ap- to an iron pin in the Northwest corner plicable recorded plat; any unpaid taxes; Jackson, Tennessee 38305 The HB 3588 letter was mailed to plicable recorded plat; any unpaid taxes; of Lot Number 1 in said addition; runs any restrictive covenants, easements, or The HB 3588 letter was mailed to the borrower(s) pursuant to Tennessee any restrictive covenants, easements, or thence East with the North line of setback lines that may be applicable; any the borrower(s) pursuant to Tennessee Code Annotated 35-5-117. This sale is setback lines that may be applicable; any Lot Number 1 a distance of 110 feet statutory rights of redemption of any gov- Code Annotated 35-5-117. This sale is subject to all matters shown on any ap- statutory rights of redemption of any gov- to the point of beginning and being ernmental agency, state or federal; any subject to all matters shown on any ap- plicable recorded plat; any unpaid taxes; ernmental agency, state or federal; any known as and designated as Lot prior liens or encumbrances as well as plicable recorded plat; any unpaid taxes; any restrictive covenants, easements, or prior liens or encumbrances as well as Number 2 of Browns Heights Addition any priority created by a fixture filing; and any restrictive covenants, easements, or setback lines that may be applicable; any priority created by a fixture filing; and as recorded in Plat Book Number 1, to any matter that an accurate survey of setback lines that may be applicable; any statutory rights of redemption of any to any matter that an accurate survey of Page 199 in the Register’s Office of the premises might disclose. In addition, any statutory rights of redemption of any governmental agency, state or federal; the premises might disclose. In addition, Madison County, Tennessee. the following parties may claim an inter- governmental agency, state or federal; any prior liens or encumbrances as well the following parties may claim an inter- ALSO KNOWN AS: 3 Carruthers Drive, est in the above-referenced property: any prior liens or encumbrances as well as any priority created by a fixture filing; est in the above-referenced property: Jackson, Tennessee 38301 Greg Hayes; Kimberly Hayes; Mortgage as any priority created by a fixture -fil and to any matter that an accurate survey Olin Ellsworth; First Tennessee Bank The HB 3588 letter was mailed to Electronic Registration Systems, Inc as ing; and to any matter that an accurate of the premises might disclose. In addi- National Association the borrower(s) pursuant to Tennessee nominee for Southstar Funding, LLC; survey of the premises might disclose. tion, the following parties may claim an The sale held pursuant to this Notice Code Annotated 35-5-117. This sale is First South Bank; Wells Fargo Home In addition, the following parties may interest in the above-referenced prop- may be rescinded at the Successor subject to all matters shown on any ap- Mortgage a Division of Wells Fargo claim an interest in the above-referenced erty: Ray T. Gonzales; Jamey Gonzales; Trustee’s option at any time. The right plicable recorded plat; any unpaid taxes; Bank NA; Southstar Funding, LLC; property: Corey C. How; Teresa A. C&R Investments, Inc; City of Jackson; is reserved to adjourn the day of the any restrictive covenants, easements, or First South Bank; Wells Fargo Home Wheetley; HSBC Bank USA, National Midland Funding NCC‑2 Corp sale to another day, time, and place setback lines that may be applicable; Mortgage, a Division of Wells Fargo Association as Indenture Trustee for The sale held pursuant to this Notice certain without further publication, upon any statutory rights of redemption of any Bank, N.A. FBR Securitzation Trust 2005‑3, Call‑ may be rescinded at the Successor announcement at the time and place governmental agency, state or federal; The sale held pursuant to this Notice able Mortgage‑Backed Notes, 2005‑3; Trustee’s option at any time. The right for the sale set forth above. W&A No. any prior liens or encumbrances as well may be rescinded at the Successor America’s Servicing Co. is reserved to adjourn the day of the 1286‑213376 as any priority created by a fixture -fil Trustee’s option at any time. The right The sale held pursuant to this Notice sale to another day, time, and place DATED October 17, 2012 ing; and to any matter that an accurate is reserved to adjourn the day of the may be rescinded at the Successor certain without further publication, upon WILSON & ASSOCIATES, P.L.L.C., survey of the premises might disclose. sale to another day, time, and place Trustee’s option at any time. The right announcement at the time and place Successor Trustee In addition, the following parties may certain without further publication, upon is reserved to adjourn the day of the for the sale set forth above. W&A No. FOR SALE INFORMATION, VISIT WWW. claim an interest in the above-referenced announcement at the time and place sale to another day, time, and place 1286‑180020 MYFIR.COM and WWW.REALTYTRAC. property: Michael D. Jones Jr.; Victoria for the sale set forth above. W&A No. certain without further publication, upon DATED October 22, 2012 COM Yvette Jones a/k/a Victoria Yvette Har‑ 1286‑154147 announcement at the time and place WILSON & ASSOCIATES, P.L.L.C., Oct. 26, Nov. 2, 9, 2012 Fhn11360 vey; Norwest Mortgage, Inc.; Michael DATED October 18, 2012 for the sale set forth above. W&A No. Successor Trustee Jones WILSON & ASSOCIATES, P.L.L.C., 1286‑155145 FOR SALE INFORMATION, VISIT WWW. The sale held pursuant to this Notice Successor Trustee DATED October 15, 2012 MYFIR.COM and WWW.REALTYTRAC. may be rescinded at the Successor FOR SALE INFORMATION, VISIT WWW. WILSON & ASSOCIATES, P.L.L.C., COM Trustee’s option at any time. The right MYFIR.COM and WWW.REALTYTRAC. Successor Trustee Oct. 26, Nov. 2, 9, 2012 Fhn11359 is reserved to adjourn the day of the COM FOR SALE INFORMATION, VISIT WWW. sale to another day, time, and place Oct. 26, Nov. 2, 9, 2012 Fhn11357 MYFIR.COM and WWW.REALTYTRAC. NOTICE OF TRUSTEE’S SALE certain without further publication, upon COM WHEREAS, default has occurred announcement at the time and place NOTICE OF TRUSTEE’S SALE Oct. 26, Nov. 2, 9, 2012 Fhn11358 in the performance of the covenants, for the sale set forth above. W&A No. WHEREAS, default has occurred terms, and conditions of a Deed of Trust Thoughtful 1286‑54995 in the performance of the covenants, NOTICE OF TRUSTEE’S SALE Note dated August 14, 2007, and the Interesting DATED October 22, 2012 terms, and conditions of a Deed of WHEREAS, default has occurred in the Deed of Trust of even date securing Concise WILSON & ASSOCIATES, P.L.L.C., Trust Note dated August 2, 2005, and performance of the covenants, terms, the same, recorded August 15, 2007, Successor Trustee the Deed of Trust of even date securing and conditions of a Deed of Trust Note at Book T1808, Page 1692 in Office blog.memphisdailynews.com FOR SALE INFORMATION, VISIT WWW. the same, recorded August 5, 2005, at dated March 31, 2004, and the Deed of of the Register of Deeds for Madison MYFIR.COM and WWW.REALTYTRAC. Book T1692, Page 898 in Office of the Trust of even date securing the same, County, Tennessee, executed by Olin 38 October 26-November 1, 2012 www.thememphisnews.com

opinion

Time for Memphians Focused on Crosstown Arts Last week we spotlighted the the next few months. These programs Overton Park Conservancy and shared a include a new 1,400-square-foot gallery To Rejoice Yet Again fun way we can support their efforts by space committed to showcasing local attending an upcoming Halloween Party artists, as well as bringing new contempo- ach year, a Chicago firm beers, from cheap foam claws to authen- at the Sears Crosstown Building on Oct. rary art to Memphis. called Challenger, Gray & tic game jerseys. 27. This week let us expand on the other Also in the works is an all-ages Christmas Inc. publishes a While Downtown merchants, FedEx- nonprofit beneficiary of that Halloween performance venue for musicians and tongue-in-cheek report on Forum managers, concessionaires and Party and talk about an organization that performers at any level of expertise, as the nation’s lost productiv- merchandise vendors relish the return of is working to both revitalize the Sears well as a wood and metal workshop and ity during March Madness. basketball to the Bluff City each fall for Crosstown Building and artist studio, an after-school The figure reaches into the millions financial reasons, fans have much more E cultivate the arts here in program that will offer tutoring of dollars as basketball-crazed fans shirk to be excited about. Memphis: Crosstown Arts. and creative writing projects their job duties and tune into NCAA Grizzlies fans don’t have to endure a Founded in May 2010 by to youth in the Crosstown tournament games on their computers months-long lockout, and they also get Todd Richardson and Chris- neighborhood, and a partner- or smartphones. to see how the franchise is handled by topher Miner, Crosstown ship with the Visible Music A similar phenomenon happens in a new ownership group that is headed Arts is a 501c(3) organiza- College that will bring the Vis- Memphis this time of year as well. And by tech businessman Robert Pera and tion dedicated to further cul- ible Community Music School though it doesn’t reach the scope and includes local partners plus celebrity Jeremy Park magnitude of the Big Dance, the begin- entertainers (Justin Timberlake) and tivating the arts community giving back to Crosstown. These new ning of basketball season is a special, al- athletes (Peyton Manning) with strong through events, exhibitions, programs will provide oppor- beit distracting, time of year in Memphis. Memphis ties. programming and resources that support tunities for creative-minded Memphians As the action at FedExForum begins And with new players to complement and showcase local artists and musi- at little or no cost to the participants. anew, so does the optimism from Griz- a veteran core, the Grizzlies can focus cians. Originally, Crosstown Arts led the There are two easy upcoming op- zlies and Tigers fans, who have eagerly on one thing – overcoming the bitter, effort for the redevelopment of the Sears portunities to support Crosstown Arts. awaited media day, exhibition games disappointing end to last season that Crosstown building, and they have been First is the Halloween Party on Oct. 27 and, finally, the season openers. unraveled when they blew a 27-point instrumental in advancing the project to (www.overtonpark.org/halloween), which Without a doubt, the 2012-2013 sea- lead over the Clippers in Game 1 and its current stage. While the development features live music by Elmo & the Shades, son brings high hopes – and high expec- then dropped Game 7 of their first-round has now taken on a life of its own, with an a costume contest, food and drinks, tations – for both teams, as outlined in playoff series, both at home. expanded development team, Crosstown and much more. The second is MemFIX this week’s cover story by The Memphis Tigers fans will demand more than Arts is one of the nine founding partners. Cleveland Street, which takes place on News sports writer Don Wade. merely making the postseason. They They will be a future tenant in the redevel- Saturday, Nov. 10 from 10 a.m. to 10 p.m. But as fans put their TPS reports on want to beat a Top 25 team and win an oped Sears building and will continue to Similar to the successful "A New Face hold to discuss Joe Jackson’s ability to NCAA tourney game, feats Josh Pastner play a vital role in the project as a guiding for and Old Broad" event held on Broad handle the pressure of the spotlight, or to has yet to achieve in three seasons of an force for the culture of the project. Avenue in 2010, MemFIX Cleveland Street call a sports talk show and opine on Zach otherwise successful tenure. Similar to LaunchYourCity and will feature temporary street improve- Randolph and Rudy Gay’s ability to coex- With new additions like Geron John- EmergeMemphis, which are incubators ments, pop-up retail, food trucks, activi- ist on the court, something else happens son and Shaq Goodwin joining fan favor- for entrepreneurs by offering a multi- ties for kids and adults, music, movies, beyond analysis of the X’s and O’s. ites Tarik Black and Adonis Thomas, the tude of resources, along with a physical performances, art installations and more. The city’s economy gets a boost. final year of languishing in Conference location to collaborate, mentor and focus Learn more at www.crosstownarts.org. A couple times each week, fans pour USA before joining the Big East should on development, Crosstown Arts is in Jeremy Park, director of the Lipscomb into Downtown bars and restaurants. be a joyous one for Tiger Nation. the process of creating an incubator for Pitts Breakfast Club, can be reached at They spend money to park. They pull The Grizzlies and Tigers are back. So the arts here in Memphis. They have a [email protected] and followed out their credit cards at the arena to buy go ahead, take a few moments away from number of new programs that are under on Twitter (@lpbreakfastclub) and Face- everything from barbecue nachos to the workaday world to savor and share it. development and scheduled to begin over book (facebook.com/lpbreakfastclub).

Half-Penny for Their Thoughts

FULL OF HOPE. isn’t whether or not they’ll get ahead. need to commit their support – their See the children. See them run. The question is whether or not they’ll guarantee – that universal pre-k will See the children. See them play. even catch up. be funded from the half-cent sales tax See the children. See them see. Pre-k is the answer. increase on the ballot. This is what you See the children. See them learn. In pre-k, in the one school year of need to know to vote for that increase See the children. See all that’s pos- 2010-2011, their gross motor skills dou- – to give a piece of a half-penny from MEMPHASIS sible. dan conaway bled and their fine motor skills tripled. a dollar spent in Shelby County to give About a year ago, I was preparing to Their self-help ability doubled, speech our kids a better chance from the get-go write the annual report for the Memphis “Tomorrow. We’ve got your back.” and language improved by two-and-a- and to give us all better odds tomorrow. City Schools pre-kindergarten program. They were all pre-k kids at Snowden half times, and general knowledge grew A little change from us. Big change for Just a quick review of numbers and School. All 4, going on 5. All energetic, go- by more than 400 percent. them. comparative stats told me that this ing on unstoppable. All irresistible, going Tests for kindergarten readiness To see more proof, just look at pre-k whole pre-k thing is on to something. on irrepressible. showed MCS pre-k students scoring kids. Just a minute or two into any meeting They’re all ours, and more than that, higher than children in Head Start and Just look at their faces when some- with the teachers involved showed a kind they’re all we can hope for, and the more childcare centers, and much higher than thing unknown is discovered, look in their of passion that only comes with the sure we do for them early the more they’ll parent or relative care – 48 percent eyes when the power of that knowledge knowledge that what you’re doing works, do for themselves and for all of us later. higher in math readiness, in fact, and 61 shines, look at their posture and attitude and that what it means is much larger Nourish them – body and brain and percent higher in language. when they’ve just done something all by than you. Just one glance at the whole- heart – when they’re small, the taller These are quantitative and qualitative themselves they’ve never done before. world-is-mine smiles of the kids running they’ll grow, the longer shadow they’ll measurements of the program’s worth, See what the world will be worth toward the photographer in what would cast, the greater impact they’ll have, the compelling data that compels support. someday. be our cover shot gave me the cover better life they’ll live. This is the proof the City Council, County I’m a Memphian, and there is no headline. Leave them behind, and the question Commission and unified school board question. Pre-k is the answer. www.thememphisnews.com October 26-November 1, 2012 39

The Brilliance of enTerTaining host your event at the Memphis Brooks Museum of art

Enjoy a perfectly tailored dining experience catered by renowned chefs, Wally Joe and Andrew Adams this upcoming season. The Brilliance of Tiffany: Lamps from the Neustadt Collection offers forty stunning examples of lighting in a wide array of colors, decorative styles, and stained-and blown glass, making your event an extraordinary experience. Catering packages will include exclusive viewings for you and your guests.

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Presentations by: Industrial Real Estate 2013 seminar Andy CAtes, SIOR – Colliers International Calendar Executive Vice President, Brokerage Services, Memphis February 28 Women and Business Retail Real Estate april 4 shAwn MAssey, CCIM – The Shopping Center Group Health Care Reform Partner June 6 Money & Markets: State of the Economy Multi-Family Real Estate august 8 JiMMy Ringel, Makowsky Ringel Greenberg Employment – HR Rules & Legal Ramifications Partner september 19 Health Care: State of the Industry Office Real Estate november 7 Kelly tRuitt, CCIM – CB Richard Ellis Memphis Commercial Real Estate Review & Forecast President, Brokerage Office Services

The 2012 CommerCial real esTaTe review & ForeCasT will provide an overview of commercial real estate trends both locally and nationally. This seminar will focus on four sectors of the commercial real estate industry – office, industrial, retail and multi-family. Presentations given by industry leaders will review how each sector has fared during 2012 and what can be expected in 2013.

A Q&A session will follow the presentations allowing for audience discussions with the presenters. At the conclusion of the seminar, a wine and cheese reception will be held in the museum lobby for more conversation and networking.

Presenters of the 2012 Commercial Real Estate Review include Andy Cates of Colliers International, Shawn Massey of The Shopping Center Group, Jimmy Ringel of Makowsky Ringel Greenberg, and Kelly Truitt of CB Richard Ellis Memphis.

$25 to register at seminars.memphisdailynews.com