September 21-27, 2012, Vol. 5, Issue 39

special emphasis: Financial Services Community approach Banks and financial institutions give back, work hard to navigate difficult times Page 18

Shelby • Fayette • Tipton • Madison

Page 16

Cooper-Young neighborhood celebrates more than a century of revitalization

Photo: Lance Murphey Demetrius Boyland uses a push mower to cut her lawn in preparation for the 25th annual Cooper-Young Festival, the signature event for a dynamic neighborhood. Bound by Central Avenue on the north, East Parkway on the east, Southern Avenue on the south, and McLean Boulevard on the West, the dense, 1.058-square-mile enclave boasts about 1,700 houses and roughly 200 homegrown businesses. The community attracts more than 50,000 tourists and locals each week, and generates $2 million in sales tax annually.

10 Sustainability has launched its first farmers market, selling produce from Rhodes Community Garden and local farmers. Sustainable food intiatives are taking hold at Rhodes, where professor Kimberly Kasper even teaches a Food and Culture seminar.

weekly digest: page 2 real estate: pages 24-25 law talk: page 28 newsmakers: page 31 EDITORIAL: page 38

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Manufacturing Company behind the Belvedere Apartments and the employer of choice awards. in earnings for the third quarter as “modest” strip of land behind the store. For the 18th consecutive year First Ho- without the one-time charges factored in. Wins Tax Freeze The deal follows last week’s purchase of rizon has earned a spot on Working Mother “Our lower performance in the third Vanport, Pa.-based KMA Manufacturing the Belvedere Apartments for $2.6 million, magazine’s list of the 100 Best Companies quarter of 2012 is mainly due to decreased won a tax incentive this week that will help bringing Kroger’s ownership of property in for working mothers. And the Dave Thomas operating performance at our steel mills, the steel fabrication and manufacturing the area from South Idlewild Street to LeMas- Foundation for Adoption again has honored which experienced decreased profitability, company add 25 new jobs and invest $1.8 ter Street along Union Avenue. First Horizon with a spot on its list of best particularly at our sheet mills, compared million in personal property in Memphis. “Kroger is committed to the Midtown adoption-friendly workplaces. to the second quarter of 2012,” Nucor ex- The company got a four-year tax freeze area and anticipates building a beautiful new Working Mother recognizes companies ecutives said in a written statement from for the project, which it says will create store much larger than the present location, for progressive workplace programs includ- company headquarters in Charlotte, N.C. $432,026 in new tax revenue for Memphis with ample parking, and all of the products ing child care, flexibility, advancement and The lower steel mill margins are blamed and Shelby County. The company plans on and departments that our customers have paid family leave. Rankings for the best on rising imports, a trend that began at the using the capital investment and new em- been asking for,” Tim Brown, president of adoption-friendly workplaces were based end of 2011. ployees to expand its Memphis operation to Kroger’s Delta Division, said in a statement. on benefits available to employees who a new facility at 1207 Riverside Blvd. The company said planning will start adopt, such as financial reimbursement KMA currently operates a 28,000-square- for a new store to be built on the site in the and paid leave. MATA, Food Bank foot facility at 2270 Channel Ave. and hopes coming years. Steps that must happen before Team Up for Food Drive to increase its Memphis employment from construction commences include meeting nine to at least 34 with an average annual the new city codes, working with the Office Nucor Corp. Lowers The Memphis Area Transit Authority is wage of $39,374. of Planning & Development, plus razing the Earnings Estimate teaming up with Mid-South Food Bank this Also this week, local economic develop- Belvedere Apartments to prepare the prop- month for the second annual “Stuff a MATA ment officials learned that Land & Timber erty for the new store to be built. Nucor Corp., which has a steel plant in Bus” food drive. Resources LLC, an -based entity, is Memphis-based Kroger’s Delta Division, Memphis, announced Tuesday, Sept. 18, it The event will take place Sept. 26 at looking to purchase at least 5,000 acres on a division of Cincinnati-based The Kroger is lowering its third quarter earnings to 35 the Poplar Plaza Shopping Center, on the Presidents Island. The company has a letter Co., operates 115 stores and 70 fuel centers cents per diluted share from earnings a year Highland Street side, from 8 a.m. to 5 p.m. of intent to buy the land, and the local Port in five states under the Kroger banner in ago of 57 cents per diluted share. The goal is to collect enough food to fill a Commission has tapped a committee to look Memphis and West , Arkansas, Nucor posted earnings in the second 40-foot city bus. into the sale. , Missouri, and Kentucky. quarter of 35 cents per diluted share. Staff members from both agencies and Nucor executives cited the impact of $26 volunteers will be onsite to collect food and million of inventory purchase accounting money donations from the public. Dona- Kroger Purchases Store, First Tennessee Parent adjustments from the company’s acquisi- tions will also be collected within the week Property From Seessels Picks Up New Awards tion of Skyline Steel LLC. Nucor also took leading up to the event. a loss on the sale of assets of its Nucor Wire Last year, the food drive collected more The Kroger Delta Division has purchased Memphis-based First Horizon National Products Pennsylvania Inc. division of $17.6 than 1,472 pounds of food and $1,780 in the Kroger store on Union Avenue from the Corp., the parent company of First Tennes- million in the quarter that ends Sept. 29. monetary donations, providing more than Seessels family, which includes the land see Bank, has picked up a few new national The company described the reduction 4,000 meals.

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Lexington Asset company said. master storyteller David Gonzalez Oct. 6 will serve as MAAR president in 2013, with Management The company also said combining the from 1 p.m. to 2:30 p.m. John Linthicum of Crye Leike Inc. Realtors two stores into a more shopper-friendly, A perfect professional development as vice president and Thomas Murphree of Takes Over Property easily accessible location will also allow opportunity for teachers and educators, Hackmeyer Realty as secretary-treasurer. Lexington Asset Management LLC has Easy-Way the opportunity to explore other this experiential “playshop” introduces the taken over the management of its fifth apart- locations in and around the Memphis area. elements of rhythm, rhyme and repetition as ment building in the Chattanooga area. essential tools for exciting and engaging sto- US Homebuilder Confidence The Spring Creek Gardens Apartments rytelling. Through fun exercises and games, Surges to 6-Year High at 950 Spring Creek Road in East Ridge has Craig Brewer Hosting each of these elements is presented in such a 128 units. Indie Memphis Sneak Peek way that participants can easily comprehend Confidence among U.S. homebuilders The units, a number of which are up- their role in storytelling. rose this month to its highest level in six graded, have one- and two-bedroom floor The Indie Memphis film festival is offer- There’s no charge for the session, but years and many expect the housing recovery plans. Major exterior improvements are in ing fans an advance peek a month before the space is limited, and reservations are re- will strengthen in the next six months. progress on the building, constructed in November festival at a party on quired by calling 751-7665 or e-mailing The National Association of Home 1966, as well as new landscaping and up- hosted by filmmaker Craig Brewer that will [email protected]. Builders/Wells Fargo builder sentiment grades to the parking lot. Rents range from include live music, food, movie trailers, door ArtSavvy sessions offer opportunities to index released Tuesday increased to 40 in $450 to $550 per month. prizes and more. learn more about the artists, art forms and September. That’s up from 37 in August and Founded in 2007, Lexington Asset Man- “Craig Brewer’s Peep Show” Oct. 4 cultures of the performances presented on the highest reading since June 2006, just agement is headquartered at 1437 Central from 7 p.m. to 9 p.m. inside A. Schwab, the the GPAC stage. before the housing bubble burst. Ave., suite 100, and manages 3,018 apart- 136-year-old store at 165 Beale, is a spe- Any reading below 50 indicates negative ment units in six states, including five prop- cial members-only event, but anyone can sentiment about the housing market. The erties with 848 units in the Chattanooga/ purchase a one-year $50 membership that Glosson Selected As index hasn’t reached that level since April East Ridge area. includes a Festival Tripper Ticket. It provides MAAR’s President-Elect 2006, the peak of the housing boom. access to non-gala films and panels at this Still, a measure of builders’ outlook for year’s festival. The Memphis Area Association of sales in the next six months rose to 51. That’s Easy-Way Closing The 15th annual Indie Memphis Film Realtors board of directors has selected up from 43 in August and also the highest Downtown Store Festival will be held Nov. 1-4 and presented Greg Glosson of Fast Track Realty as 2013 level since June 2006. by Duncan-Williams Inc. president-elect. Glosson has served on the Builders also reported seeing the best Easy-Way Food Stores is closing its board from 2011-2012 and is this year’s sales level since July 2006. And turnout by Downtown grocery at 80 N. Main St. at the secretary-treasurer. prospective buyers returned to levels not end of this month. GPAC to Host Free “Greg has been an excellent repre- seen since May 2006. The store is relocating current product Storytelling Workshop sentative as a MAAR director and he will The survey, which is based on responses offerings to the James Road at Hollywood provide outstanding leadership as our 2014 from 445 builders, has been trending higher location, a decision based partly on the Germantown Performing Arts Center, president,” MAAR executive vice president since October. After a dismal 2011, home- fact that much of the customer base has 1801 Exeter Road, will host a free ArtSavvy Melanie Blakeney said in a statement. builders have seen their fortunes begin to moved away from the Downtown area, the session called “The Art of Storytelling,” by Regina Hubbard of ERA Legacy Realty turn around this year as the housing market

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recovery has steadily gained momentum. provides long-term solutions for homeless Sales of both new and previously oc- pregnant women and their children. Visitors cupied homes are running ahead of last will also learn about how the organization year. Home prices are increasing more tackles poverty through its Powerlines Com- consistently, in part because the supply of munity Network, and learn more about homes has shrunk and foreclosures have volunteer opportunities. eased. And mortgage rates remain near record lows, beckoning potential buyers with good credit. River Lock Reopens After Emergency Fixes Agape Love Bus Offers Shipping resumed Thursday through Tours of Places Served one of the ’s busiest locks, after crews completed emergency repairs Agape is offering Mid-Southerners a that took days and that stranded hundreds chance to visit the people and places served of barges destined for points north or south. by the nonprofit by reserving a spot on the By the time the U.S. Army Corps of Agape Love Bus. Engineers reopened Lock 27 at Granite The free, two-hour Agape Heart Shares City, just north of St. Louis, about 3:30 a.m. tour will depart from Agape’s office at 111 Thursday, the Coast Guard said the traffic Racine St. Sept. 26 and Oct. 10 at 11 a.m. and jam had grown to 63 vessels and 455 barges 3 p.m. Individuals and groups are welcome. – carrying enough cargo to fill 6,100 railcars The tour will offer opportunities to learn or 26,400 large tractor-trailers. about several Agape programs, including Within a few hours of the lock being adoption and foster care, and the organiza- back in business, just six vessels pushing LEADERSHIP tion’s Families in Transition program, which 80 barges had made it through the lock. MEETS INNOVATION. FROM THE BLOG

New Businesses Open Downtown

Editor’s Note: “From the Blog” is a weekly feature that highlights some of the enterprising work our staff and contributors post on The Daily News blog, blog.memphisdailynews.com.

SARAH BAKER | The Memphis News

owntown Memphis has added two new businesses to its The 2nd Annual Memphis Dportfolio. Research and Innovation Expo The River’s Attic, a retailer owned by Bill Kane at 49 Union Ave., sells antiques, custom-made lamps and lamp shades, Hear keynote speaker, General Stan McChrystal, and share ideas with other local leaders like yourself. painted furniture, floral and gifts like personalized pillows. The Meet the area’s top researchers from the University of shop next to the Memphis Convention & Visitors Bureau near Memphis and local research-oriented companies. Check Front Street also does lamp repair. out over 25 exhibits, including a handheld pocket radar, And on the office front, Caissa Public Strategy LLC has re- research on invasive beetles, studies of obesity and its cently opened its first office in Pembroke Square, 119 S. Main St., effect on joints and spinal implants, and an analysis of suite 600. The business, run by lawyer and former Shelby County sports-related concussions in adolescents. Election Commissioner Brian Stephens, celebrated the opening Seating for General McChrystal’s presentation is with a rooftop party Sept. 13. limited. He will speak in the Zone at 9:30 a.m. Parking Caissa opened in January 2011 and has quickly grown to 10 is available, for a fee, in the Innovation Drive Garage, employees plus sub-contractors. Stephens said the public strat- across from the FedEx Institute. egy concept is only about 15 years old and is relatively uncom- mon in the South compared to areas like Washington where Thursday, September 27 firms specializing in the trade are “on every block.” 9 a.m. - 3 p.m. FedEx Institute of Technology on the “If you have a controversial issue or problem getting traction, Campus that’s when you come to us,” Stephens said. “We’re really inter- Admission is FREE ested in winning issues, and so if there’s a win date – a date to fail memphis.edu/fedex | 901.678.5105 or be successful – that’s when you call us in and we do the plan- ning and the communications plan for all of those things.” www.thememphisnews.com September 21-27, 2012 5

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The last of the idled barges – hauling ev- The overall economy grew at an annual lierville-based bank since 2011 and most The survey, which is based on responses erything from grains to coal, fertilizer and rate of just 1.7 percent in the April-June recently was vice president of credit admin- from 445 builders, has been trending higher construction materials – were expected to quarter. Many economists believe growth istration. Prior to joining the bank, he was since October. After a dismal 2011, home- clear that vital Mississippi River corridor will stay weak in the second half of this year. with First Alliance Bank as vice president builders have seen their fortunes begin to in two or three days, Coast Guard Lt. Colin Steven Wood, chief economist at Insight and branch manager. He also worked at turn around this year as the housing market Fogarty said. , said the leading indicators Wholesale Equipment Co. as chief financial recovery has steadily gained momentum. “While it may seem slow, it’s actually report suggests “economic growth over the officer and at other areas banks as a com- Sales of both new and previously oc- quite a good pace given the dynamic nature next six to nine months should be relatively mercial loan officer. cupied homes are running ahead of last of the river and the pure size of the vessels,” modest with little possibility of a robust year. Home prices are increasing more he said. rebound.” consistently, in part because the supply of Workers closed the lock on Saturday Last week, the Federal Reserve said it US Homebuilder Confidence homes has shrunk and foreclosures have after discovering that a protection cell – a would purchase $40 billion a month in Surges to 6-Year High eased. And mortgage rates remain near rock-filled steel cylinder against which mortgage-backed bonds as long as it deems record lows, beckoning potential buyers barges rub to help align them for proper necessary. The goal of the program is to Confidence among U.S. homebuilders with good credit. entry into the lock – had split open, spilling stimulate the economy by making home- rose this month to its highest level in six enough of the rock into the river to obstruct buying more affordable. Chairman Ben years and many expect the housing recov- passage. Bernanke said the Fed would keep buying ery will strengthen in the next six months. TEMA Unveils iPhone, iPad That damage was on an unarmored the bonds until the job market improves The National Association of Home Version of Readiness App section of the vertical protection cell that “substantially.” Builders/Wells Fargo builder sentiment the barges don’t typically make contact with index released Tuesday increased to 40 in Tennesseans can download a new app because they’re often 15 to 20 feet under September. for their iPhones and iPads called ReadyTN, water. But that portion has been exposed Nashville to Lose $3 Million That’s up from 37 in August and the a preparedness program developed by because the river’s level has been lowered For Rejecting Charter School highest reading since June 2006, just before the Tennessee Emergency Management dramatically by the nation’s drought, said the housing bubble burst. Agency. Mike Petersen, an Army Corps of Engineers The state Department of Education is Any reading below 50 indicates negative The app is available through the App spokesman. withholding $3.4 million in funding from sentiment about the housing market. The Store or the iTunes store. The agency said The Army Corps has said the repair is the public school system in Nashville over index hasn’t reached that level since April in a news release that more than 15,000 us- temporary, and that the lock itself wasn’t a rejected charter school. 2006, the peak of the housing boom. ers have downloaded the Android version damaged. The Metro Nashville school board last Still, a measure of builders’ outlook for of the app, which has been available since week defied an order by the state Board of sales in the next six months rose to 51. That’s February. Education to approve the application from up from 43 in August and also the highest ReadyTN will provide location-based Measure of Future Phoenix-based Great Hearts Academies. level since June 2006. information on severe weather, road condi- US Activity Falls Members of the city’s school board said Builders also reported seeing the best tions, open shelters and local government they were concerned the charter school sales level since July 2006. And turnout by contacts. The app also provides prepared- A measure of U.S. economic activity planned to draw from affluent white fami- prospective buyers returned to levels not ness tips for specific hazards and checklists declined in August for the second time in lies, rather than to bring in students from seen since May 2006. for emergency kits. three months, suggesting the economy other parts of the city to create a more remains weak. diverse student body. The Conference Board says its index of Education Commissioner Kevin Huff- leading indicators, designed to forecast fu- man said in a release that the department ture economic activity, dipped 0.1 percent had “no choice” but to strip the funding in August after rising 0.5 percent in July and from Nashville schools because of the dropping 0.5 percent in June. refusal to follow state law giving ultimate The weakness in August came from de- authority on charter school applications to clines in manufacturing orders, consumer the state panel. confidence and average weekly manufac- turing hours. Conference Board economist Ken Goldstein says the index depicts an BankTennessee Gets economy still facing significant domestic New Chief Credit Officer and international weakness. Hiring has languished this year, and the BankTennessee has promoted Dee unemployment rate remains elevated at 8.1 Lenderman to chief credit officer. percent. U.S. manufacturing, which had In his new role, Lenderman will be re- helped pull the economy out of the Great sponsible for providing support, direction, Recession three years ago, has weakened. credit information and loan policies and Factories have been hurt by a decline in procedures to ensure the overall quality of consumer spending and slower global the bank’s lending portfolio. growth that has cut demand for exports. Lenderman has been with the Col-

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contributors SEPTEMBER 21-27, VOL. 5, NO. 39 news

Government

President & CEO Peter Schutt bill dries City Could Back Senior Reporter General Manager Emeritus Government, Transportation/Distribution/Logistics, Ed Rains Education, Manufacturing, Agribusiness 528-5277 | [email protected] Countywide Sales Publisher Eric Barnes

Associate Publisher & Executive Editor Tax Hike on Ballot James Overstreet

Managing Editor BILL DRIES | The Memphis News the veto override, believes voters will not Lance Allan Wiedower approve the sales tax hike. She says a tax hike now would mean no political pres- Deputy Managing Editor helby County Commission chair- sure on the countywide school board to Eric Smith andy meek Senior Reporter man Mike Ritz has been talking make tough decisions like closing schools with some city of Memphis leaders and outsourcing custodial and transpor- Associate Editor Banking/Financial Services/Accountants, Markets & Economy, S about their opposition to the countywide tation services. Kate Simone Economic Development, Small Business, Attorneys/Courts/ Civil Litigation sales tax hike he proposed for the Nov. 6 “The voters in the city of Memphis Pressman 528-5279 | [email protected] ballot. voted overwhelmingly to get out of the Cedric Walsh The talks involve those city leaders school business and they don’t want their supporting the countywide sales tax hike taxes to go for this from the city or from Pressman that pre-empted plans from City Hall for the county,” she said on “Behind The Pete Mitchell a citywide half-percent sales tax hike. The Headlines.” “What I want to do is send a citywide sales tax hike would have been message that we are no longer going to be Graphic Designer & Photo Editor used to roll back the city’s property tax allocating monies without performance. I Brad Johnson rate. want real numbers in front of me before I Graphic Designer & Illustrator Interviewed on the WKNO-TV pro- allocate dollars.” Emily Morrow gram “Behind The Headlines,” Ritz said Ritz argues the new merged school SARAH BAKER REPORTER if the countywide sales tax hike loses at system to come next August has at least Graphic Designer the polls in November, Memphis leaders a $57 million gap between revenues and Yvette Touchet Commercial and Residential Real Estate, Architects/Engi- may not follow up with a quick move to expenses and with no city government neers/Construction, Advertising/PR/Media, Tourism/Hospi- tality, Food/Restaurants the ballot for a citywide sales tax hike as funding, county government is the place Senior Production Assistant 521-2464 | [email protected] previously had been thought. that funding has to come from. Half Sandy Youngblood “I am not real concerned – I was a of the $60.6 million in revenue from a Production Assistant week ago – that the City Council would countywide sales tax hike would go to Laurie Beck then quickly try to go in and do their tax the merged school system and municipal thing,” Ritz said. “I think they now realize school districts. Administrative Specialist that it is an incredibly uphill battle to get “We’re talking about the school board Marsha Payne a special election only for the city sales as if they were first graders. They under- tax hike.” stand exactly what their responsibility is,” Senior Account Executive “Behind The Headlines” can be seen Ritz said. “Are there savings? That is an Janice Jenkins on The Daily News Online, www.mem- argument that will go on in time forever. AISLING MAKI phisdailynews.com. This is a peculiar circumstance, a peculiar Account Executive REPORTER The city still gets a share of the time. Shelby County has never been in Robin Bender Health Care & Biotech, Nonprofits, Retail, Features estimated $60.6 million in revenue that this position before.” Advertising Director 528-8622 | [email protected] would be created by a countywide sales Later, Shafer questioned the timing of Don Fancher tax hike. the move to the ballot for the countywide But it would be less than the $47 mil- sales tax hike. She says it may have been Business Development Manager lion in revenue from a city of Memphis- timed to specifically exclude the county’s Patricia McKinney only sales tax hike that had been on the six suburban towns and cites. November ballot. By state law, half of The six towns and cities voted on Director of Marketing & Circulation the revenue – or $30 million – would go half-cent sales tax hikes in August to fund Donna Waggener to the merged schools system as well as municipal school districts. Controller suburban municipal school districts be- An earlier countywide sales tax hike ing formed. referendum before or at the same time Pam Mallett LANCE MURPHEY PHOTOGRAPHER Memphis Mayor A C Wharton Jr. was as the suburban ballot questions on a To reach our editorial department, e-mail: among those trying to convince County sales tax hike would have included the six [email protected] Weekly features, spot news Commission members in August to vote suburban towns and cities. or call: 901-523-1561 [email protected] against overriding County Mayor Mark Since suburban voters have already Published by: THE DAILY NEWS PUBLISHING CO. Luttrell’s veto of the resolution putting voted, the Nov. 6 referendum will be 193 Jefferson Avenue the countywide tax hike on the November among voters in Memphis and the unin- Memphis, TN 38103 P.O. Box 3663 ballot. corporated areas of Shelby County as well Memphis, TN 38173-0663 Wharton talked last month of using 40 as Millington. Tel: 901.523.1561 Fax: 901.526.5813 percent of the revenue from the citywide In Millington, the sales tax hike within www.memphisdailynews.com The Daily News is supportive, including in sales tax hike to cut the city property tax that city failed in August by three votes. The Daily News is a general interest some case being on the boards of, the following rate. The city of Millington is contesting the newspaper covering business, law, organizations: Literacy Mid-South, Grace St. “Now that we get to the point where results in a Chancery Court lawsuit sched- government, and real estate and Luke's Episcopal School, Conservancy, development throughout the Memphis Ronald McDonald House, Great Outdoors we can get some breathing room for the uled to be heard next month. metropolitan area. University, Tennessee Wildlife Federation, Temple Israel, St. Jude's, St George's Independent property taxpayers – boom – somebody Ritz counters that Arlington and Lake- The Daily News, the successor of the Schools, Shelby Residential & Vocational comes in and pulls the rug from under land school districts would actually get Daily Record, The Daily Court Reporter, Svcs, Park, Calvary & The Arts, and The Daily Court News, was founded Bridges, Boys & Girls Club of Greater Memphis, us,” Wharton said at the time. more revenue from a countywide sales tax in 1886. Binghampton Development Corporation, U of The commission overrode the veto hike than they would from their own sales

AUDIT PENDING M Journalism Dept., Chickasaw Council Boy Scouts, Memphis Leadership Foundation, Junior and Ritz believes the countywide ques- tax hikes. However, Germantown, Bartlett Achievement, Conservancy, tion won’t be a “slam dunk” but will pass. and Collierville would see less sales tax The Museum and WKNO. But County Commissioner Heidi Sha- revenue if a countywide sales tax hike is fer, who was among those voting against approved by voters. www.thememphisnews.com September 21-27, 2012 7

news

Arts Earnings Next-Generation Theater FedEx Earnings Orpheum’s performing arts center to develop young theater fans Down 1 Percent

BILL DRIES | The Memphis News

emphis-based FedEx Corp. re- ported Tuesday, Sept. 18, its net Mincome for the first quarter ended Aug. 31 was down $5 million, or about 1 percent. Company executives coupled the an- ticipated bad news with an announcement of a 2013 rate increase at FedEx Express. And they told analysts on an earnings call from Memphis that they will unveil in much greater detail at the company’s annual inves- tors meetings next month the adjustments they are making to the company. The changes already announced include a voluntary buyout of some employees. FedEx founder and CEO Fred Smith said the changes to be announced at the Oct. 8 and Oct. 9 gathering are likely to be a shift in capacity among the FedEx divisions. That change will probably reflect what the com- pany has seen recently as customers move to Photo: Jay Adkins The Orpheum Theatre is more than just the best touring Broadway shows. These children attend a stu- deferred delivery services and in particular dent matinee series performance, part of the education offering that’s growing atT he Orpheum. delivery by water instead of by air. The net income figures for the quarter were $459 million compared to $464 million sarah baker | The Memphis News going to be a lot of complementary our student workshops, our master in 2011. FedEx reported earnings of $1.45 override between all of the excitement classes.” per diluted share compared to $1.46 per that comes from next door to what we The Orpheum currently serves share the same period last year. Two weeks lans are moving forward for The do here. It’s kind of like running Grace- students from age 3 through college. ago, the company dropped its earnings per Orpheum Theatre Memphis’ land, you’re always trying to figure out But since most of its deep arts experi- share estimate to $1.43 per diluted share. Pnew Performing Arts and Lead- how to keep Elvis alive.” ences are geared toward The company’s revenues of $10.79 billion ership Centre, a $10.7 million facility The sleek design work, awarded to high school students, the new facility were up 3 percent from $10.52 billion a year that will enable growth in student to The Crump Firm Inc., will provide promises to create more alternatives ago. Its operating income of $742 million participation and other professional a rehearsal hall, 350-seat black-box for younger students – offerings avail- was up 1 percent from $737 million last year. development programs. theater, a commercial kitchen, event able nowhere else. “The slowdown in the global economy The Memphis Development Foun- space, classrooms, collaborative break- “In all of our research, we’re trying and trade constrained revenue growth at dation, the organization that operates out space and administrative offices. really hard not to duplicate what other FedEx Express,” Smith said of the numbers The Orpheum, closed in May on its The Performing Arts and Leadership arts organizations are already doing,” for the oldest division of FedEx. $1.2 million purchase of the 0.87-acre Centre will also include a production Roberts said. “It will also give us more FedEx Express revenues were up 1 per- parking lot immediately to the south area for television commercials and time to bring in some international cent from a year ago at $6.63 billion. But its of the iconic theater at 203 S. Main St. radio spots, as well as about 15,000 artists that we’ve wanted to bring in operating income of $207 million was a drop from Memphis Light, Gas and Water square feet of space on the third level that only perform in smaller spaces, of 28 percent from a year ago. Division. Construction is slated to for “some growth space for the next 100 meaning they’re not really equipped to Shipping rates at FedEx Express will break ground in January – the same years,” Halloran said. come to The Orpheum, and currently, increase by a net average of 3.9 percent for timetable as the Chisca Hotel rede- “We’re talking about designing a they’re not coming to Memphis with U.S. domestic, U.S. export and U.S. import velopment across the street – with a contemporary facility,” said David Ho- any other venue.” services effective Jan. 7. scheduled completion in spring 2014. back, principal and vice president with So far, Memphis Development Smith talked a lot during the earnings Pat Halloran, president and CEO of The Crump Firm. “The new center will Foundation has seeded about half call about the impact of macroeconomic Memphis Development Foundation, open a new south gateway and kind of the total project cost, $5 million, conditions on Express in particular. He also said the three-story, 50,000-square- of jump the theater into a new era of from community leaders. The balance talked as he has in other recent earnings foot building will allow The Orpheum where we’re trying to go.” will be sought by continuing to reach calls about a consumer shift from priority to help build a future generation of The Orpheum’s 19 education out to foundations, corporations and express services to less time-sensitive ser- theater-goers. programs attracted more than 60,000 individuals. vices also offered by FedEx that he and other “This is going to be big part of our young people and their families last Tony Bolonga of Bologna Con- FedEx leaders believe reflects economic new curriculum – the leadership and year, but many were turned away be- sultants has been retained by The uncertainty. citizenship development, helping cause The Orpheum Theatre lacks the Orpheum as a project manager to And he bristled at the idea that the young people learn how to make deci- space necessary to accommodate all of guide the board on the day-to-day details to come in October will be a “restruc- sions, how to become an early partici- those interested in participating. operations. Engineering services will turing” of Express. pant in their community,” Halloran “Right now, most of our workshops be provided by ETI Corp. (civil), Liles “The management of FedEx has never said. and classes exceed capacity and have Engineering Design Consultants LLC used the term restructuring,” he said. “That’s The new space will not try to repli- waiting lists, so it will give us the op- (electrical), Houston-based W.H.W something you have mentioned and the cate the 85-year-old Orpheum Theatre, portunity to reach the people who are Engineering (acoustics and black-box media has mentioned. We intend to take a but will have plenty of it’s own curb requesting those classes,” said Alice theater design), Barham Cain Mynatt significant amount of cost out of the FedEx appeal. Roberts, vice president of education Inc. (mechanical, HVAC and plumb- Express system. We’re not going to lay off “We want the building to make a and community programs for The ing), Jamnu H Tahiliani and Associates people and we’re not going to take draco- statement – we want it to be very dy- Orpheum. “We’ll be able to expand Inc. (structural), and Fisher & Associ- nian steps. All of the steps are well thought namic,” Halloran said. “I think there’s our teacher professional development, ates Inc. (commercial kitchen design). out.” 8 September 21-27, 2012 www.thememphisnews.com

10 New Defendants Real Estate & Development Part of Indictment Local Entrepreneurs Will

BILL DIRES | The Memphis News Soon Have ‘Urban Workspace’

new federal indictment in a growing teacher testing Sarah Baker | The Memphis News just want to do our small part economy.” scandal alleges teachers and those who wanted to in contributing in helping that Amenities include 24 work- Abe teachers were paying thousands of dollars to an shared open work space, person who might be the next spaces, high-speed wireless organization led by former assistant modeled after incubators Bill Gates, the next Steve Jobs, the Internet, a conference room, principal Clarence Mumford. A in Los Angeles and New next Mark Zuckerberg just get presentation materials, office And Mumford’s test-takers allegedly flooded two sets of York City, is on the brink of being over the hump.” equipment, a dry-erase wall for testing sessions. One was even caught eight months before launched in Downtown Mem- Urban Workspace is similar brainstorming and planning, a the incident that triggered the federal investigation and phis. to The Hive at 55 co-working lounge area and a full kitchen. charges. Urban Workspace Powered by space in New York and the io/ Urban Workspace will also host Mumford is accused of manufacturing fake identification Cricket Wireless, located in the LA co-work incubator café in Los informative workshops, semi- for a crew of test-takers in the three-state area who took the City House Memphis Condos at Angeles. The concept came to nars, cooking classes, meet-ups, PRAXIS exams in the names of dozens of paying customers. 6 W. G.E. Patterson Ave., will pro- Thomas, a former employee of and monthly lunches and happy U.S. Attorney Ed Stanton has said more than 50 teachers vide an affordable, shared work- Shelby County Juvenile Court and hours. were involved. The alleged scheme spanned 15 years starting ing environment for freelancers, Memphis City Schools, while be- Rental options include con- in 1995, according to the charges. entrepreneurs, small businesses ing furloughed from the National ference room only, daily, weekly The superseding indictment returned by a Memphis and startups eager to collaborate Football League a few years ago or monthly. Thomas, who recalls federal grand jury Wednesday, Sept. 19, includes 10 more and share resources. The co- when the stock market crashed. times when he was forced to defendants. working facility opens Oct. 1. “At that time, community meet at Starbucks to close deals, Most of the 10 new defendants are teachers or teacher Kier Thomas, senior gov- based organizations were really wanted the membership levels to applicants from Mississippi. Steve Holmes and Jeryl Shaw, ernment liaison at Innovative suffering because of so many cor- reflect flexibility for those in vari- both of Memphis, are identified as among those who took Services Group, the nonprofit porations laying off and so many ous stages of business. tests in the names of those who allegedly paid Mumford. behind Urban Workspace and people becoming unemployed,” “Some individuals might not Jacklyn McKinnie of Memphis allegedly paid to have some- owner of the space, said the func- Thomas said. “Those who were want a full membership here dur- one take the PRAXIS exam in her name. tionality of the building spurs the not able to be employed lacked ing the full month. They might The case narrative also charges that some of the test-tak- advancement of entrepreneurs the skills, so it was really a bad want just conference room only, ers took the PRAXIS exam twice in the same day, apparently who might have hit a plateau situation for us as a country.” for things they possibly can’t at different sessions, in the names of their clients. while working out of a home Working with Finard Proper- do in public venues,” Thomas There are 96 overt acts that cover 13 dates the PRAXIS office. The target demographic is ties, Thomas set up a space in said. “We also have a lot of Apple exam was given between November 2007 and July 2010. those primarily in the informa- Whitehaven Shopping Plaza on products that allow our iPads and The April 25, 2009, and June 13, 2009, PRAXIS testing tion technology fields, such as Elvis Presley Boulevard in collab- iPhones to communicate with sessions turn up repeatedly in the overt acts listed in the 47- Web developers, bloggers and oration with United Way’s Gifts in the flat-screen televisions using page indictment. Search Engine Optimizers. Kind program and AmeriCorps Apple TV.” On June 13, 2009, the PRAXIS examination was given in “The user defines the space,” VISTA program. Meanwhile, there will also be two sessions at Arkansas State University in Jonesboro. And Thomas said. “We’re fostering “During the daytime, it was cooking class programs offered according to the latest indictment, the test-takers working individuals who have ideas and entrepreneurs, and then evening for the home chef. Students will for Mumford were very busy that day. concepts, who are the start-up times, we had training classes in be able to learn how to make Three of Mumford’s test-takers were taking five PRAXIS point, who have limited budgets IT-related fields,” Thomas said. healthy meals from canned fruit exams for three teachers, according to the list of overt acts. in terms of putting towards an “AutoZone donated 175 comput- to pizzas and desserts, cooking It was at one of the later sessions that day that a test office space, because you can’t ers for our computer training alongside top local chefs like Mi- monitor spotted John Bowen of Memphis who had taken the really grow a business when you course, it was an absolute won- chael Patrick of Rizzo’s Diner and same exam at an earlier session that same day. can’t get past a certain stage. We derful time, especially with the Ryan Spruhan of Chez Phillipe.

Examining the Economic Unknowns, Certainties

US Fed = Yes, ECB = Yes, US banks, analytical attention will now begin his unilateral “Jobs Plan” by committing bank policy and Obama has a suggestive Government = Maybe, China = migrating toward U.S. election outcomes to print money at a pace of $40 billion military and monetary tailwind, it’s time to Unknown and the forward-looking condition of the a month, indefinitely, until labor condi- locate the next big story for the mar- Last week’s announcement of “un- Chinese economy. tions improve. Ironically, loose money kets. With Europe recessing and the U.S. limited” easing from the disproportionately benefits the rich. Ris- crawling, the growth rate of the Chinese U.S. Fed combined with The U.S. Fed Votes for ing asset prices (stocks, oil, houses, etc.,) economy becomes particularly impor- the “unlimited” easing President Obama lead to gains in wealth for those who own tant. Unfortunately, some economists see announcement by the Presidential approval rat- them. However, for those who do not own China growing above their political target European Central Bank ings correlate with economic them, but consume them – ala filling up of 7.5 percent; some see no growth. For extended the global and military activity. If the the gas tank or the grocery basket, it’s an the Chinese economy to truly lead the rally in everything but stock markets are rising and inflationary penalty. Asset owners benefit world economy, it needs a robust domes- Treasuries. This central unemployment rates are while wage earners suffer. This is VERY tic economy. A new Chinese leadership re- bank-fueled rally will lead David S. Waddell falling, it’s hard to dethrone regressive (albeit effective) stimulus. gime takes power by year’s end. Perhaps the worldly to stock market multiple investor an incumbent. If the country Bernanke’s supposition is that if as- government-funded stimulus for domestic convergences worldwide. feels threatened by foreign set holders feel richer, they will hire and consumers might be an easy way to buy With the S&P 500 carrying the loftiest insurgents, Americans will rally around spend more. In economics, this is known friends at home and abroad. If not, signs valuation, the international markets stand the commander in chief. Bernanke, Draghi as the “wealth effect.” What an interest- of slow demand growth in China challenge to benefit the most. For example, the and the Arab extremists have added ing time. President Obama may have global growth assumptions. Understand- group of stock markets within the Euro substantial momentum to Obama’s re- just been re-elected thanks to Romney’s ing the nuances of the domestic Chinese have surged 15 percent over the last three election ambitions in the last few weeks. economic principles. economy today will greatly advance our months, doubling the appreciation in the Be that as it may, I can’t pass up an understanding of the state of the markets USA. With the developed world immu- opportunity to point out something a bit On to China and the world economy for 2013. China is nized by the U.S. and European central ironic. Yesterday Ben Bernanke unveiled Now that we have clarity on central key for 2013, time to start digging. www.thememphisnews.com September 21-27, 2012 9 Money&Markets Extra High-yield bonds have been some made that it will go even lower: Treasury have focused on shoring up their balance Treasury yields, a tighter spread between of the best investments this year. They rates are absolutely low, and the Fed is sheets. They’re either sitting on cash, or yields on Treasurys and high-yield bonds, Insider are issued by companies with low credit pretty committed to keeping them low they are doing conservative things with it. and you have the coupon payments, and Yielding Q&A ratings and offer higher yields than other for an exceptional period of time. Right you’ve had a benign default environment. bonds in exchange for the risk. Brian now, the difference in yields between What about the weak economy? Nold says strong returns can continue, high-yield bonds and Treasurys are at We’re kind of grinding along with tepid It’s not too late to get into high yield? opportunities but perhaps not as big as this year’s. historical averages. So that’s one reason growth, say 2 percent. That is actually You still are collecting a 6.3, 6.5 percent He is a manager of the RidgeWorth you could argue that the spread between pretty good for a high-yield company yield. High yield is kind of in a sweet spot Title: Senior portfolio manager at High Income fund (STHTX), which has the two could go tighter. And we have a because most of their balance sheets between the low, low yields on Treasurys Seix Investment returned 12.9 percent in 2012 through very low default rate in the market, about aren’t predicated on having to grow into and investment-grade bonds and the Advisors and Thursday. 2 percent, and it will probably stay in that them. The market really doesn’t need perceived volatility of the equity market. co-manager of the area. robust growth to perform well. RidgeWorth High Income fund The average yield on high-yield bonds But we shouldn’t be expecting another just fell below 6.5 percent for the first Why do you think defaults will stay so Are you surprised by how strong 12 percent over the next year. What he suggests: time. Can you still call them high yield? low? high-yield bonds have done this year? Mathematically, it’s difficult to get there, High-yield bonds That’s the question. At what level do Defaults were at 1 percent temporarily, I think returns are already ahead of where yes. I think most people have realistic can deliver solid you say this isn’t high yield? In some but now they’re at 2 percent. The histori- I would have anticipated for the full year. expectations: They’re not trying to get returns people’s minds, that may have been 7 cal average is over 4 percent. Companies We were kind of at high single-digits double-digit returns. Brian Nold percent, and we blew through 7 percent. have paid down debt and are generating expectations, and now we’re at 12 But there is an argument that could be strong cash flow. Since 2008, companies percent. That’s been driven by a drop in Answers edited for content and clarity. AP

BEHIND THE BRAND SHERWIN-WILLIAMS (SHW) Small-caps pack a wallop Small-company stocks are producing big returns. suffer deeper losses because they often have limited Shades The Russell 2000 index has jumped 16.1 percent access to financing. They also have smaller and less since the stock market turnedd higher in June diversdiversee customer bases, which makes them on expectations that small-capp profitsprofits will rriskieriskie . keep growing. The index is justst shy of itsits WWhen stocks fell this spring on worries of green all-time high set last year, andd it hashas aaboutb the economy, small-cap stocks outpaced the 14.2 percent gainain forfor the lolost 12.9 percent from March 26 Many U.S. homeowners backed the black. off plans for major home renova- In July, it reported record sales Standard & Poor’s 500 index of through June 4, compared with a 9.8 tions as the economy and housing and earnings, even as the large-cap stocks. percent loss for large stocks. market soured. But they didn’t company faced higher raw Small-cap stocks have But small-caps can deliver shelve plans to spruce up their material costs. often produced bigger returnss stronger profit growth. For the homes with a new coat of paint. Through the first half of the year, over the long term. Including ccurrent quarter, analysts expect The resilient demand for paints Sherwin-Williams’ net income grew dividends, the Russell 2000 hashas eearningsarning per share for small-caps to rise 17 and other surface coatings has to $328 million, an increase of 33 posted an average annualizedd return of 10 percent from a yyear ago. For large-caps, they’re helped keep Sherwin-Williams in percent from the same period in percent over the last decade versus 7.5 percent for forecasting a drop of 1 percent, according to S&P 2011. Sales were up 12 percent to the S&P 500. Capital IQ. $4.71 billion. To be sure, small-caps are subject to dramatic Another plus? Because economies around the That has made Sherwin- price fluctuations. They jump higher when markets world are slowing, larger companies may feel an Williams stock popular on Wall are strong and fall more steeply during downturns. increased urgency to buy smaller rivals to drive Thursday’s close: $148.10 Street. Shares are up 67 percent When trouble hits, small-cap companies typically revenue growth. Price-earnings ratio: 30 so far this year. (based on last 12 mos.) Among paint brands, Sherwin- Williams traces its history back to Great 52-week price range Recession 1866. Products bearing its Small-cap gains: Small- 150% $70 $150 namesake brand are sold at more Russell 2000 company stocks outpaced big than 4,000 company-run stores. 120 index of 1-yr. stock change: 99.5% ones during the 2002-07 bull Paints and other products with small-caps market, and they’re doing it 90 1-yr. S&P 500 change: 21.5% brands such as Dutch Boy, Krylon again. The Russell 2000 Market value: $8.7 billion and Thompson’s Water Seal are 60 includes companies with an 2011 revenue: $15.2 billion sold through hardware stores and other retailers. average market value of $1.3 30 billion. The average S&P 500 Avg. broker rating: Sherwin-Williams is seizing on S&P 500 index the strong demand for its products company is worth $25.8 billion. 0 SELL HOLD BUY of large-caps by adding new paint stores. It -30 expects to open as many as 65 ’03 ’04 ’05 ’06 ’07 ’08 ’09 ’10 ’11 ’12 stores by the end of this year. Source: FactSet data through Sept. 20 Stan Choe; J. Paschke • AP Source: FactSet Data through Sept. 20 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 0 38.28 37.94 +.18 +0.5 s s s +25.5 +38.2 51 1.76 Medtronic Inc MDT 31.06 0 43.18 43.17 +.34 +0.8 s s s +12.9 +28.6 12 1.04 s s s AutoZone Inc AZO 307.16 8 399.10 371.63 +1.79 +0.5 +14.4 +11.4 16 ... Merck & Co MRK 30.54 0 45.17 44.89 +.38 +0.9 s s s +19.1 +43.2 21 1.68 0 t s s BancorpSouth BXS 8.23 15.69 15.22 -.10 -0.7 +38.1 +55.6 20 0.04 Mid Amer Apartments MAA 55.10 8 70.22 66.15 -.96 -1.4 t t t +5.8 +4.5 34 2.64 Boyd Gaming BYD 4.12 5 9.75 6.86 -.07 -1.0 t s t -8.0 +21.2 49 ... Monsanto Co MON 58.89 0 91.75 91.06 -.10 -0.1 s s s +30.0 +33.3 23 1.50f Buckeye Technology BKI 23.21 6 38.50 31.86 -.39 -1.2 t s s -4.7 +19.6 15 0.32 Mueller Inds MLI 35.51 9 49.86 47.93 +.15 +0.3 s s s +24.8 +7.3 25 0.40 Community Hlth Sys CYH 14.61 0 29.59 28.92 -.45 -1.5 s s s +65.7 +61.5 10 ... 2 t s t Corrections Corp CXW 20.14 0 35.16 33.73 -.43 -1.3 t s s +65.6 +48.1 23 0.80 Navistar Intl NAV 19.79 48.18 24.02 -.91 -3.7 -36.6 -34.7 dd ... s s s Cummins Inc CMI 79.53 4 129.51 96.95 -2.24 -2.3 t t r +10.1 +4.0 10 2.00f Nike Inc B NKE 81.01 5 114.81 96.72 -.94 -1.0 +0.4 +9.9 20 1.44 Delta Air Lines DAL 6.64 5 12.25 9.15 -.22 -2.3 t r t +13.1 +12.8 5 ... Pinnacle Entert PNK 8.06 0 12.43 12.43 +.14 +1.1 s s s +22.3 +8.9 16 ... t s s Dillards Inc DDS 40.01 0 79.23 77.34 -1.42 -1.8 +72.3 +60.8 8 0.20 Regions Fncl RF 2.82 0 7.73 7.58 -.07 -0.9 t s s +76.3 +101.8 18 0.04 8 t s s Dover Corp DOV 43.64 67.20 61.03 +.45 +0.7 +5.1 +19.4 13 1.40f Renasant Corp RNST 12.11 0 19.97 19.43 -.25 -1.3 t s s +29.5 +47.3 20 0.68 DuPont DD 37.10 8 57.50 51.87 +.25 +0.5 t s s +13.3 +14.9 14 1.72 Smith & Nephew PLC SNN 42.62 0 56.20 55.83 +.16 +0.3 t s s +16.0 +20.3 80 0.87e Education Realty Tr EDR 8.04 9 11.81 11.06 -.11 -1.0 t t t +8.1 +23.6 dd 0.40f Smucker, JM SJM 70.00 0 87.54 87.06 +.48 +0.6 s s s +11.4 +20.0 21 2.08f FedEx Corp FDX 64.07 7 97.19 85.17 -1.73 -2.0 t t t +2.0 +15.4 13 0.56 9 t s s Fst Horizon Natl FHN 5.38 9 10.99 9.93 -.18 -1.8 t s s +24.1 +54.7 dd 0.04 Suntrust Bks STI 15.79 30.79 28.77 -.26 -0.9 +62.5 +52.6 18 0.20 s s s Freds Inc FRED 10.27 7 15.98 14.25 -.13 -0.9 t s t -2.3 +28.3 15 0.24 Synovus Fincl SNV 0.94 0 2.49 2.45 -.02 -0.8 +73.8 +90.2 dd 0.04 GTx Inc GTXI 2.34 6 6.55 4.47 -.07 -1.5 t s s +33.0 +30.1 dd ... Sysco Corp SYY 25.09 0 31.19 30.87 -.15 -0.5 s s s +5.3 +18.5 16 1.08 t s t Ingram Micro IM 14.42 3 19.80 15.91 -.35 -2.2 -12.5 -8.1 9 ... Trustmark TRMK 17.06 9 26.35 25.19 -.09 -0.4 t s s +3.7 +34.0 15 0.92 9 t s s Intl Paper IP 21.55 36.50 34.70 +.57 +1.7 +17.2 +27.4 13 1.05 Tyson Foods TSN 14.07 4 21.06 16.56 -.01 -0.1 s s t -19.8 -3.0 12 0.16 Isle Capri Casino ISLE 3.90 8 7.92 6.97 -.16 -2.2 s s s +49.3 +25.7 dd ... UPS class B UPS 61.12 6 81.79 72.61 -1.66 -2.2 t t t -0.8 +16.3 18 2.28 Kellogg Co K 46.33 6 55.30 51.27 +.33 +0.6 s s s +1.4 -1.5 16 1.76f Utd Technologies UTX 66.87 7 87.50 80.92 -.80 -1.0 t s s +10.7 +10.8 14 2.14f Kirklands Inc KIRK 8.47 3 17.42 10.27 +.27 +2.7 s s t -22.8 +5.5 13 ... 9 t s s Kroger Co KR 20.98 8 24.83 23.90 -.09 -0.4 s s s -1.3 +9.2 22 0.60f Valero Energy VLO 16.40 34.36 32.14 -.08 -0.2 +52.7 +53.4 8 0.70f t t s LifePoint Hosp LPNT 32.61 0 43.86 43.00 -.25 -0.6 t s s +15.7 +21.2 13 ... Verso Paper Corp VRS 0.85 4 3.36 1.65 +.05 +3.1 +71.9 -16.7 55 ... Macy’s Inc M 24.38 9 42.17 38.65 -.39 -1.0 t t s +20.1 +44.2 12 0.80 Wright Medical Grp WMGI 13.57 9 22.50 21.55 -.08 -0.4 s s s +30.6 +24.3 58 ...

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 September 21-27, 2012 www.thememphisnews.com

Don’t Buy Into TV Sustainability Financial Programs

Ray’s Take Programs offering insider investment tips and advice on financial strategy abound on television. You might occasionally learn a valuable nugget to apply to your own unique financial needs, but a study by Case Western Reserve University showed that investors who followed televised recommenda- tions actu- ally lost money over the six months follow- ing. There are several rea- sons why tele- ray & dana Brandon vision is not a rays of wisdom wise source for investment ad- vice. First of all, the primary goal for these programs is to attract the biggest possible audience in order to sell advertising. Those so-called financial experts are Photo: Aisling Maki there for entertainment value at least as much as Rhodes College students work in an on-campus garden facing Jackson Avenue. The class is comprised primarily of investment smarts. They will never be accountable junior and senior students. to you for your results. Secondly, the sheer volume of tips and advice televised financial shows have to offer up day after day leads to a lot of conflicting information. What is right and what is wrong? Neither the on-camera talking heads nor the unseen producers really care, Food Awareness they just want to keep their programs lively to build audiences. If they get lucky and get it right, it’s an opportunity to tout their success. If they get it wrong Rhodes College program shines light on food issues – there’s always the next program ahead. Finally – and most importantly – a lot of the information shared revolves around predictions Aisling Maki | The Memphis News When the discussion ends, the instant noodle packets. on how certain stocks or industries will perform students set out to tend to their plot, “We didn’t really know how in the short term – even in the next week. Making visible from Jackson. A nearby shed students were going to react,” Kasper investments based on hot topics and predictions n a recent humid Septem- houses garden tools, which are used said. “We had a sense of faculty staff like these can wind up costing the average investor ber morning, a group of ca- when necessary, but the archaeolo- engagement. We’d been hearing dearly. You could easily fall into the trap of buying at Osually dressed students sat gist spirit in Kasper prefers students positive things all summer when the highest price and, later, selling at a loss based cross-legged in a field on the Rhodes to use their hands, and the students we were talking about this project on a “tip.” Worse yet, you are wasting valuable time College campus, deeply engaged seem to enjoy the tactile connection on campus, but the vendors who’ve and energy on distractions rather than focusing on a in a discussion about the various with the soil – something some have participated have been pleasantly long-term sustainable financial plan. preparation methods and cultural never experienced until now. surprised.” If you just want to be entertained, stay tuned in. associations of yams. The campus community garden Two young women who’ve had However, if you want thoughtful advice about your “I’m super-jazzed about roots features typical Mid-South crops – an indispensable role in the devel- investments, turn off the noise, or go to an indepen- and tubers,” said professor Kimberly watermelon, cantaloupe, squash, opment of the market were Rhodes dent professional financial adviser who will focus on Kasper, a Mellon post-doctoral fel- basil, cucumbers and okra – and its College’s first Schutt Garden Fellows, your best financial interest instead of higher ratings. low who leads the Food and Cul- perimeter contains sunflowers and Laura Brown and Taylor Sieben, who ture class, which on Fridays meets marigolds to attract bees, butterflies, work together as ambassadors for Dana’s Take outdoors. hummingbirds and other pollinator food sustainability at Rhodes. Why limit turning off the television to programs The presentation is undeterred species. Kasper says she hopes to The pair come form entirely about money and investing? The more your televi- by neither the roar of a FedEx cargo double or possibly triple the garden’s different but complementary sion is turned off, the more you can actively engage plane passing through the slightly size in the near future, and she said backgrounds. Brown descends from your body and mind instead of sitting there being overcast sky, nor by the meandering she hopes working in the garden will a long line of family farmers in passively entertained. Books, games, conversations bees and dragonflies attracted to the expand students’ minds in terms of Western Kentucky, while Sieben, an the food choices they make. environmental science major and and walks are all excellent alternatives to vegging nearby garden. The pilot class – pri- marily junior and seniors, many of Her Food and Culture class and native of Oakland, Calif., comes from out in front of the flat screen. You might be surprised whom are anthropology majors, and the community garden are indica- a food justice perspective. to find that less television can actually improve your some just passionate about urban tive of the growing sustainability “Oakland has made a lot of prog- mood and sense of wellbeing. gardening – was developed to create movement sweeping the Rhodes ress in the last 10 to 15 years in terms Consider television news: By incorporating awareness around issues of food campus, which recently launched an of trying to improve food justice dramatic music and powerful graphics, news broad- awareness and food security. onsite farmers market. Open to the there, which is also a huge issue in casts are designed to increase your anxiety level. To “My anthropology and sociology entire community, the market is held Memphis,” Sieben said. “I worked keep you tuned in and ratings high, television news- department has been very sup- Thursdays from 2 p.m. to 6 p.m. at with a couple of different organiza- casters use their larger-than-life personalities to portive of this class,” said Kasper, an the campus’ Barret Cloister walkway, tions that worked in that arena and present news in the most sensational light possible. archeologist whose field work and near the college library. became really interested in it.” Turning to newspapers and the Internet for your research has centered on human- In addition to selling produce Brown said the women’s differ- news instead of TV can significantly dial down the environmental interactions with grown on campus, the market is ences “helped get our vision for the drama yet keep you just as informed. Just making indigenous communities, and the working to bring in local farmers and project to come to life. If we just had this one change could have a positive impact on investigation of plant macro-re- craftspeople from outside the fences one side of the spectrum, it might your outlook, and that’s certainly not a bad thing. mains recovered from archaeological of the prestigious, private college. not have worked as well as it did. sites. Kasper said that despite a I know more about farming, but Ray Brandon is a certified financial planner and She instructs the class using a 1,700-student body population, Taylor knows more about the other CEO of Brandon Financial Planning (www.brandon- two-pronged approach that features outside vendors initially expressed aspects, so it was a really good fit.” planning.com). His wife, Dana, has a bachelor’s de- a classroom element focused on concern about the viability of selling gree in finance and is a licensed clinical social worker. reading materials and theoretical to college students, a group stereo- The Daily News is a supporter of angles, and a hands-on element that typed as littering dorm rooms with Rhodes College’s sustainability initia- requires digging in the dirt. empty fast food containers and tives. www.thememphisnews.com September 21-27, 2012 11

Health Care & Biotech Cuts Temper Revenue, $300K Grant Supports Cargo Improvements Optometry College’s BILL DRIES | The Memphis News emphis International Airport saw a boost in revenues and cargo handled during Mthe month of August compared to pro- Capital Campaign jections for the month. But a second round of cuts in Delta Air Lines flights to and from the airport as well as a shift Aisling Maki | The Memphis News from air to ground and ocean services worldwide for Memphis-based FedEx Corp. tempered the optimism at the Thursday, Sept. 20, meeting of the outhern College of Optometry work between health care profes- riculum needs of the college’s four- Memphis-Shelby County Airport Authority board of has been awarded a $300,000 sions,” he said in a statement. year academic program. commissioners. Sgrant from the Plough Foun- Southern College of Optometry The college expects the project, The airport’s new ground transportation center dation to support a construction is the only private optometry col- whose anticipated completion date is almost complete with its formal dedication a few project that will provide the col- lege in the South, and one of only 21 is August, will provide an additional months away. lege’s 500 students with new class- optometry colleges in the nation. 23,000 square feet of space. The near-completion contributed to revenues room facilities and state-of-the-art Founded in 1932, the college’s Southern College of Optom- that were slightly more than $1 million over ex- instructional space at its Midtown 11-story tower at 1245 Madison Ave. etry is an independent, nonprofit penses for the month. campus. was constructed in the early 1970s. institution of higher education with The August numbers also didn’t reflect the start To finance the $9.4 million proj- As technology and modern instruc- more than 500 students and resi- of the Delta cutbacks that took effect in September ect, the college has launched a five- tional methods have advanced, the dents representing 40 states. and should mean less than 150 scheduled daily year, $4 million capital campaign. college has outgrown its classroom The Eye Center at SCO serves flights. An advance phase has already space. nearly 80,000 patients annually, Memphis International Airport had 165 sched- raised $2.3 million, and the school’s An assessment last year de- helping make the college one of the uled daily flights in August, down 24 percent from board of trustees will finance the termined that a new facility and top in the nation for clinical opto- August 2011 when the airport had 218 scheduled remainder of the project through instructional spaces were necessary metric education. flights. That also compares to 184 scheduled daily investments and cost-saving mea- to meet the needs of 21st century The school’s community out- flights in July. sures over the five-year period. health care students. reach program reaches more than The 165 daily flights carried 595,875 passengers The Plough Foundation gift is The school’s new building 12,000 children each year through for the month, compared to 746,840 in August of one of the largest donations to the will be located on the expansive vision screenings provided annually 2011, a 20.2 percent decrease. campaign to date, and school presi- concrete patio space behind the to students in local public, private The airport’s cargo handled numbers were up dent Dr. Richard W. Phillips says the college’s 11-story Madison Avenue and charter schools. 5.5 percent from a year ago at 762.9 million pounds SCO community “is grateful that tower. Designed by Memphis-based “The Plough Foundation recog- compared to 722.8 million pounds in August of the Plough Foundation shares our Formus Inc., the building will pro- nizes the importance of Southern 2011. The August number is also up from 698.8 mil- vision for enhancing the college’s vide greater classroom space and College of Optometry to health care lion pounds in July 2012. commitment to leading the profes- flexibility, including enough room education,” said Scott McCormick, Thursday’s meeting came one month after sion of optometry.” to accommodate campus-wide executive director of the Plough Memphis Mayor A C Wharton Jr. and Shelby Coun- “For 80 years, optometry meetings and special events. Foundation. “And we believe SCO’s ty Mayor Mark Luttrell traveled to Nashville on Aug. students have come to Memphis An atrium and grand hall will work will continue to benefit Mem- 20 to meet with Gov. Bill Haslam to discuss possible for their education, and with the connect the new building to the phis, particularly in the great service incentives for Memphis International Airport. Plough Foundation’s support, we existing tower. Laboratory and other the college provides to the com- They told the airport board that city and county will strengthen our ability to con- teaching spaces will be moved to munity by incorporating patient government, as well as economic development tinue to recruit top students to SCO the tower’s first floor, closer to the care as part of its clinical education officials, may have more flexibility in pushing such and encourage interdisciplinary new building, to support the cur- program.” incentives and aiming them at particular airlines.

No Short Cuts to Meeting Your Fundraising Goal

“Sadly, I have to report that I Here’s what we What’s important is not How many gifts of $1,000 to $5,000 can and we failed.” know: campaign strat- the size of the gifts, but you secure? Ensuring you reach your goal That is not a good message to have egy and the economic the underlying fundrais- means identifying three times the num- to deliver. But it is part of life. The above downturn contrib- ing principles that were in ber of gifts you need to receive; if the first quote is from a report given by Robert D. uted to the campaign’s place or overlooked. person you ask turns you down you know Sweeney, senior vice president for devel- challenges. UVa was While UVa worked who else you can ask. If you need 500 opment and public affairs to the Uni- not exempt from the with campaign counsel, it gifts to raise $1 million, you should, in versity of Virginia board of visitors at its economic challenges MEL & Pearl shaw also chose to move ahead general, identify 1,500 potential donors. Sept. 14 meeting. Sweeney was reporting of the past five years. FUNdraising despite guidance regard- As you can see, reaching a campaign on the progress of the University’s $3 bil- Another factor was ing the number and size goal requires a lot of work. Impatience, lion capital campaign. According to The strategy. of gifts needed to reach the campaign’s overconfidence or miscalculation can be Daily Progress, the campaign launched The Daily Progress reports, “Sweeney goal within the campaign timeframe. expensive. Think about how you are pre- in 2004 and was to conclude at the end said there was a ‘miscalculation’ on the In our experience that is not an un- paring for your campaign. Are you taking of 2011. To date UVa has raised $2.76 part of UVa officials, who thought they usual decision. It is, however, a risky one. the time you need to be successful or will billion; the campaign has been extended. could pull in enough gifts of $10 million Your campaign goal should be realistic. you find yourself saying, “Sadly, I have to “We will be to $3 billion by the spring,” and $20 million to offset not having one It should take into account your financial report that I and we failed.” Sweeney said. more $100 million gift … . Some consul- needs, the market’s response to your While the number of nonprofits tants had suggested they’d need such a case, and the number of campaign gifts Mel and Pearl Shaw are the owners launching multi-billion dollar campaigns gift but UVa officials had thought other- or grants you can secure. of Saad & Shaw. They provide fundrais- is small, there are lessons to be learned wise, Sweeney said.” To raise $1 million you need to know ing counsel to Memphis, the Mid-South from publicly available information re- Obviously most organizations dream where the money could come from. Who and the nation. Visit them at www.saa- garding the UVa campaign. of receiving even one $1 million gift. can give $100,000? $50,000? $25,000? dandshaw.com or call 522-8727. 12 September 21-27, 2012 www.thememphisnews.com

Education Recommendation Given to Hire Search Firm

BILL DRIES | The Memphis News tee is still working out what additional and what decisions related to the merger standards or requirements it might want a superintendent might be making before applicants to meet that it will also take to the merger. he countywide school board could the full board. That’s when some on the body began start getting information from The committee has heard estimates pointing to decisions the full school board T search firms this week and prob- from two school board associations that a has yet to make about the more than 170 ably vote on a process for picking a merger search involving a firm could take at least I don’t disagree with the merger recommendations from the con- superintendent by the end of October. six months from its beginning to the hiring thought process of having a solidation planning commission. A committee of countywide school of a superintendent. The cost estimates national search. My deal is “The board has got to decide what you board members and community leaders range from $50,000 to $200,000. the timing of it. Why does all want,” said the Rev. Maxie Dunnam. “If the board doesn’t decide what you want, is recommending that the school board The group was anxious to start making it have to be right now? We hire a search firm and conduct a na- decisions at its sixth meeting after fielding nothing we do around this table is going to tional search for the superintendent of the advice from the Tennessee School Boards are going to inject“ a level of amount to anything.” merged school system. Association and the Council of the Great risk by doing it right in the Still others said the planning commis- The group also voted Thursday, Sept. City Schools. middle of the combining of sion recommendations and the basics 13, to begin as soon as possible through The ad hoc committee has seven the two districts.” of the merger offer some ideas – at least the staffs of both school systems to get the school board members and six community enough to get the superintendent selec- qualifications of search firms in a request leaders – one from the city and one from – David Reaves tion process moving. School board member for qualifications process. the county outside Memphis from busi- “We have a variety of things that we Committee chairman Chris Caldwell ness, clergy and among parents. know right now is not going to change said he will see how much of that can get “Let’s do something,” said Bridget schools starting in August 2013 and into because we are merging the two systems,” started without the approval of the full Chisholm. the merger. said Veronica Collins. board. The full board could discuss that With that the group debated a bit more “I don’t disagree with the thought School board member Sara Lewis said part of the process as early as the Tuesday, and then began a series of votes that fill in process of having a national search,” said the school board has to start making deci- Sept. 18, school board work session. some of the blanks on a process that is still school board member David Reaves. “My sions on the merger recommendations. The recommendations of the ad hoc tentative. deal is the timing of it. … Why does it have “This board has got to do some work,” committee on the search process go to the Still to come are decisions on timing. to be right now? We are going to inject a she said. “This board has not worked.” full school board for its approval and then The one that is expected to prompt the level of risk by doing it right in the middle The board is expected to get at least the selection process would begin. most debate is whether to move imme- of the combining of the two districts.” some recommendations on the planning The board could change or contradict diately to a search or wait. Waiting for the Reaves argued that applicants for su- commission blueprint from a working the recommendations. search process could involve appointing perintendent will want to know the size of group of high level staff from both school The group’s work on a set of recom- an interim superintendent for the critical the school system and what the structure systems by its October work session and mendations isn’t complete. The commit- run up to the merger of city and county of the school system will be post-merger voting meeting.

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Law & The Courts Memphis Police Officer Latest Defendant in Sex Trafficking Cases

BILL DRIES | The Memphis News McWhirter but also recorded him in the when the FBI interviewed the source who spiracy to engage in child sex trafficking. two nightclub visits in November. said he had seen McWhirter on and off As part of the plea, Lester admitted to us- The name of the nightclub is not listed duty at several nightclubs in Memphis ing backpage.com to advertise a 15-year- he latest sex trafficking case in in the affidavit. where there was open prostitution and old girl for prostitution. Memphis federal court involves U.S. Attorney Ed Stanton’s office had drug use. In July, Maurice Mabon, a codefen- T a Memphis police officer who made sex trafficking cases a priority for The next month, the FBI began track- dant of Lester, was sentenced to 27 years allegedly brought three women into a federal prosecutors in the last year. He es- ing calls to and from McWhirter’s cell in prison by McCall after a jury convicted Memphis nightclub last November and timated the area is second or third in the phone and linked the calls to women with him of child sex trafficking, attempted “announced the women were available as nation in terms of prosecuting the crimes. prostitution records who were listed on child sex trafficking and conspiracy to prostitutes to patrons of the nightclub.” “What makes this case worse is that backpage.com, a website Ross said in his commit child sex trafficking. A third A week later, officer Sean McWhirter the alleged perpetrator is a law enforce- affidavit he encountered in other human codefendant, Chauntta Lewis of Moscow, allegedly had sex with one of the women ment official who was sworn to protect trafficking investigations that “is com- Tenn., was sentenced to four years and six at the same nightspot “in full view of and serve,” Stanton said Monday in a monly used as an advertisement website months in prison after she pleaded guilty. other patrons of the nightclub,” accord- written statement. for prostitution.” Also in July, Vincent Jones pleaded ing to the affidavit in the case filed by FBI The “Tarnished Badge Task Force,” a Last week, Marvell Antonio Culp guilty to his role in drugging two Mem- Special Agent Matthew J. Ross. police corruption unit that includes FBI pleaded guilty to sex trafficking of chil- phis area juveniles with Xanax and Oxy- McWhirter was charged Monday, Sept. agents as well as Memphis Police and dren by force, fraud or coercion in a feder- contin and advertising them as prosti- 17, with transportation of individuals in Shelby County Sheriff’s Office investiga- al case involving a social networking site. tutes on backpages.com. interstate commerce for the purpose of tors, investigated the McWhirter case. In late August, Laron Matlock was Jones admitted he and codefendant prostitution. He was arrested at a Tunica “We will do this as often as needed in indicted by a Memphis federal grand jury Kala Bray physically abused the children County hotel the day before when he order to rid this department of those who on three counts of child sex-human traf- and made them engage in numerous sex allegedly delivered three prostitutes to a can’t make up their minds as to whether ficking. acts in Memphis and Houston. room there. they want to be a police officer or a thug,” That same week, Aricke Lester of One of the juveniles escaped from a An unidentified source working with said Memphis Police Director Toney Somerville was sentenced to 14 years in hotel room in Houston and alerted police the FBI arranged the meeting and not Armstrong. prison by U.S. District Court Judge John who went to the hotel and found the only recorded phone calls and payoffs to The investigation began in May 2011 P. McCalla after he pleaded guilty to con- other juvenile.

Financial Services Local Mortgage Market Up 22 Percent

andy meek | The Memphis News purchase market. $550,240 to $3.3 million). Magna Bank’s tions in the local area have continued to “To date, the price range has been from volume during that same period was up improve moderately. $150,000 to $250,000,” Stafford said. “How- 8 percent (from $10.4 million to $11.3 And home sales increased throughout t’s been an old story for several quar- ever, we are now seeing increased activity million). Independent Bank’s mortgage most of the area on a year-over-year basis, ters – for a few years now, in fact: Rates in the higher priced homes ranging from volume, however, dropped from $87,050 according to the Fed. In a recent com- I are low, and homebuyers keep tiptoe- $300,000 to $450,000. The home affordabil- in August 2011 to $26,000 in August 2012, mentary distributed to clients, Mei Li – an ing back into the market. ity index is at its highest point since World according to the Chandler numbers. economic analyst with FTN Financial, a That’s especially liable to be the case War I. As a result, more buyers are entering The Federal Reserve, in a new report division of First Tennessee Bank – wrote going forward, in light of the Federal the market. Notwithstanding, with 30-year about its regional district that includes that in September, the 30-year mortgage Reserve’s steps last week to keep interest conventional mortgages priced at 3.5 Memphis, noted it believes the area “con- rate reached a new low of 3.51 percent. rates low for an indefinite period of time. percent and 15-year conventional mort- tinued to expand” modestly during July Indeed, the local mortgage market contin- gages priced at 2.75 percent, homeowners and early August. The report went on to Chandler Reports is a division of The ues to feel the effects of those low rates. continue to refinance. Many homeown- say residential real estate market condi- Daily News Publishing Co. Inc. Total mortgage volume throughout ers are converting 30-year mortgages to Shelby County was up 22 percent over Au- 15-year mortgages, and with rates as low gust 2011, climbing to almost $127 million as they are currently, changes to mortgage in August 2012 from $104.4 million during payments are mostly negligible.” Call for an appointment today! the same period last year, according to real The uptick, meanwhile, hasn’t been estate information company Chandler entirely uninterrupted. August’s mortgage 901.685.5008 Reports, www.chandlerreports.com. totals, for example, were down a little from Similarly, there were more mortgages July despite being above the year-earlier made last month – 845, up from 672 in Au- totals. A Patient’s View: gust 2011. However, the average mortgage Between July and August, total mort- “Dr. Castle is a fantastic dentist. amount dropped to $150,169 last month gage volume fell from almost $143 million I never waited to see him longer than a few from $155,372 in August 2011. to almost $127 million. The number of minutes. He gives great personal attention.” That overall trend also corresponds mortgages went to 845 in August from 827 to the pattern of home sales during the in July, and the average mortgage amount month, when August saw the eighth fell from $172,365 in July to $150,169 in consecutive monthly increase over 2011. August. Shelby County saw 1,487 home sales last Some of the largest Memphis-based month compared to the 1,228 homes sold banks reported mortgage increases over William N. Castle, D.D.S. in August 2011, according to Chandler. the two August periods. First Tennessee general dentistry Scott Stafford, president and CEO Bank’s August 2012 mortgage volume, 79 n. cooper (in midtown) • memphis, tn 38104 at Evolve Bank and Trust, said Evolve is according to the Chandler numbers, was continuing to see increased activity in the up 513 percent over August 2011 (from 14 September 21-27, 2012 www.thememphisnews.com

Education Schools Case Continues in Federal Court

BILL DRIES | The Memphis News

hen U.S. District Court Judge Samuel “Hardy” Sept. 27, meeting. Mays resumes his hearing on municipal school The recommendations are the blueprint for how the W districts, Thursday, Sept. 20, he will already merged school system will operate leading up to and past have a desk full of reports, documents and depositions to the merger start date of August 2013. consider. The board approved Tuesday, Sept. 18, a resolution And most of the information has nothing to do with I just think it’s our first sponsored by board member Kenneth Whalum Jr. to public education in Shelby County. The schools-related “begin the process of reviewing, approving or rejecting the material has to do with other school systems to which official barometer to see where (planning commission’s) merger plan … with the expert the state laws setting the rules for establishing municipal this board stands. Even if staff only advice of the transition steering committee.” school districts might apply. recommends that we deal with one The steering committee is a group of six top admin- Attorneys for the Shelby County Commission claim or two, we start. I just think it’s very istrators from both of Shelby County’s public school the state laws violate the Tennessee Constitution’s stan- important to start.” systems who have been reviewing the set of 172 recom- dards for general laws because they could only reasonably “ mendations sent to the school board by the planning apply to Shelby County. – Kenneth Whalum Jr. commission at the beginning of August. Attorneys for Shelby County’s six suburban towns School board member “I just think it’s our first official barometer to see where and cities claim the laws could apply to Gibson County this board stands,” Whalum said. “Even if staff only recom- and the Milan special school district in that county even mends that we deal with one or two, we start. I just think though Gibson County has no county school system. They the remaining details. The settlement included an agree- it’s very important to start. We may not get very much also claim it could apply to Carroll County as well. ment by all sides that they would not appeal his ruling on done at all. But I just think it’s important to communicate Making the arguments are attorneys and legal teams that part of the case. that.” with two of the city’s best-known law firms. Burch, Porter At the time, Mays held that the issue of municipal The steering committee is expected to have many of and Johnson PLLC is representing the suburban towns schools was not ripe. Once the ballot referendums on its recommendations including those on the planning and cities. Baker Donelson Bearman, Caldwell and forming such school districts went on the ballots in the commission recommendations to close up to 20 schools Berkowitz PC is representing the County Commission. suburbs earlier this year, the County Commission filed a and outsource custodial and transportation services by Each team has delved into the fine print of the law, third-party claim on the issue. And Mays agreed the issue the board’s October business meeting. the school system charters, transcripts of the legislative had become ripe for a decision. Those three recommendations are expected to be the sessions in 2011 and 2012 where the laws were passed Mays is expected to make his decision in writing some most discussed of the planning commission recommen- and then amended, as well as other court cases and legal time after Thursday’s court session but before the Nov. 6 dations. They are also the most critical to a funding gap opinions they believe are related. municipal school board elections in each of the six subur- between revenues and expenses for the merged school The result is a set of filings, testimony and arguments ban towns and cities that are the follow-up to the passage system that the planning commission puts at $57 million that are much more complex than the first part of the case of the ballot questions in August. if the school board includes those three recommenda- in 2011. As that happens, the schools merger process is show- tions. In that first part, Mays ruled on the validity of the other ing new signs of life. If the board doesn’t, the gap goes higher, according to part of the same state laws that allowed for the consolida- Countywide school board members should begin vot- planning commissioners. But the steering committee is tion of Shelby County’s two public school systems. He ing up or down the first recommendations of the schools expected to differ with the planning commission’s esti- then mediated a settlement by all parties in the case on consolidation planning commission at their Thursday, mate of savings from the three measures.

Business Anthropology Unlocks Opportunities

Many consumer product, retail, JOCELYN ATKINSON their wallet through direct interaction and Ethnography can be vital to determining and software companies are reinventing & MICHAEL GRABER communication. This discovery process is what drives a specific group or individual themselves and growing market share Guest Column the cornerstone of ethnography. so that their experience feels more per- by better empathizing with the people sonal and fulfills that need for connection. who use their products or services. Business anthropology unlocks the op- How can ethnographic methods be Increasingly, other businesses – from portunities. applied to business? What is the most surprising thing you B2B companies to doctor clinics – are Disclosure: Because this discipline is Where business can truly benefit from have discovered working in the private sector? learning the potent power of empathy. so rare in the Mid-South, we interviewed ethnography is through consistent and How much a person’s network influ- Traditional market research and con- an employee of our company about this systematic application of techniques. ences who they are and what they do. nection tools only take insight so far. To growing trend and her role as anthropolo- The models can also be applied within Even though we are increasingly discon- build a real bridge for innovation and new gist/ethnographer, Cole Bradley. the business. Want to reduce turnover, nected (from our food, our people, our product efforts, new applications and increase worker satisfaction, or stream- heritage, our planet), we still seek the approaches were needed to supplement What is ethnography? line a process? Don’t assume a top-down advice of those closest to us, just like we the old mix. Strictly speaking, ethnography is approach. Oftentimes, the person with have done for the last 200,000 years. While some aspects of this trend a qualitative research method used to the most insight is the person actually From where to get a haircut to what type are labeled as Design Thinking or User understand a population through empiri- doing the job, and ethnographic exercises of job we should do to who we should Experience, the field gives rise to a new cal evidence. are ideal for vetting the expert knowledge marry, we rely on other people to guide role: anthropologist or ethnographer. and experiences of your team. How is ethnography a useful tool for us. We like to think we are secluded in our Whether it is a retail, consumer or busi- businesses? Why is a human-centered way of doing decision making, that we’re islands of ness anthropologist, these specialists For businesses, understanding the business more important than ever? choices, but it’s simply not true. We need take an immersive approach to getting to lives, desires, motivations, and habits of In a mass produced society, we are our networks. know the people for whom products and their client is critical for providing the desperate to know that our individual- services are being created. right products and services to the right ity and sense of self are being cared for Jocelyn Atkinson and Michael Graber Companies such as Proctor & people. This is where ethnography is through the things we purchase, be it run the Southern Growth Studio, a stra- Gamble, Target, and the Mayo Clinic have crucial. You can make assumptions about an iPod or a yoga class. People want to tegic growth firm based in Memphis. Visit gained insights that create new markets a person’s purchasing habits or service feel that the product or service they are www.southerngrowthstudio.com to learn using this method. Empathy is the key. needs, or you can discover what’s beyond buying is right for them as a unique entity. more. www.thememphisnews.com September 21-27, 2012 15

Downtown Baker Donelson Wins Prestigious ‘Go-To Hangout Spot’ Industry Award Court Square Concert Series latest boon for Downtown park’s growth Andy Meek | The Memphis News

Baker, Donelson, Bearman, Caldwell & Berkowitz PC has picked up a promi- nent industry award for the development of its patent pending legal project man- agement system, BakerManage. The International Legal Technology Association has given the Memphis- based law firm a 2012 Distinguished Peer Award for outstanding achievements in the category of “Project of the Year.” Baker Donelson also got the award for being one of the first firms in the U.S. to create and implement a legal project manage- ment office. In addition, Baker Donelson has shared its innovation through multiple speaking engagements in 2011, including presentations for the ILTA, the American Bar Association and the Project Manage- ment Institute. “Baker Donelson developed Bak- erManage and implemented our legal project management office as part of our commitment to be good stewards of our clients’ resources, regardless of the fee arrangement,” said David Rueff, the firm’s legal project management officer.

Photo Courtesy of the Downtown Memphis Commission “The selection of Baker Donelson for this award is an acknowledgment of the Local bluegrass group 2 Mule Plow return to this year’s Court Square Concert Series, one of many improvements to the Downtown park. The group will play Oct. 7. firm’s innovation by combining project management and technology to help attorneys be more efficient and to make the practice of law more transparent to Sarah Baker | The Memphis News The series kicks off Sunday, Sept. 23, clients throughout the life cycle of a legal with Jeremy Shrader and The Quintes- engagement.” sentials, a group that Rollin Riggs of BakerManage represents an attempt ourt Square has made impres- booking company Resource Entertain- to control certain aspects about practic- sive strides from the quality of ment Group describes as “a swinging, ing law that result in cost spikes. On the C life issues that plagued it just a It’s simple street jazzy, Rat-Pack-ey type act” that’s well client side, for example, OK’ing work few years ago. suited for an outdoor venue like Court before clearly laying out expectations can Thanks to landscape and surround- animation. We don’t really Square. contribute to the problem BakerManage ing commercial property enhance- have a lot going on in that Other acts are Star and Micey (folk seeks to bring under control, as well as ments, more police placed patrolling area around Court Square rock and jam) Sept. 30, 2 Mule Plow lack of planning and communication on the area on bikes and a more aggressive on Sunday afternoons.” (bluegrass) Oct. 7, and Tennessee Mass the law firm side. approach to panhandling, the Down- Choir (gospel) Oct. 14. More informa- The system provides a project man- town Memphis public park is now seen – Dawn Vinson tion on the artists can be found at agement workflow for attorneys and Director of marketing“ and special events, DMC by many as more of an amenity than a downtownmemphis.com/cscs.asp. clients. According to the firm, BakerMan- spot to avoid. Resource Entertainment Group age compliments the legal experience of On any given day, Court Square is music spotlighting local musicians. works closely with the Memphis Griz- attorneys by assembling project informa- bustling with food trucks, field trips, “It’s simple street animation,” Vinson zlies, and books parties and private tion like scope, tasks, schedules, dead- casual business meetings and even said. “We don’t really have a lot going functions at The Peabody Memphis, lines, budgets and performance in one spontaneous opera performances. on in that area around Court Square The Columns at One Commerce Square location and sharing that information in “We renovated it several years ago on Sunday afternoons. It’s just some- and the Cadre Building. But the Court real time with the team and the client. and that’s been one of the target spots, thing that we want to do to enhance the Square Concert Series goes along with The ILTA’s “Project of the Year” not only for panhandling, but other Downtown experience.” the firm’s general festival booking side of award recognizes an organization for an quality of life stuff, too,” said Dawn Vin- The series comes after similar events the business that looks for “high-quality, outstanding achievement in implement- son, director of marketing and special that the DMC has hosted in the past family friendly acts that are reasonably ing a project that provides “exceptional events for the Downtown Memphis such as alley jams and the Downtown priced and very professional.” business value and uses technology in an Commission. “We enhanced with the Alive summer lunchtime performance Riggs said it’s an opportunity to innovative way.” The award also recog- rose gardens there, just doing all kinds series. A top priority for this year’s Court showcase Memphis musicians that nizes organizations for helping educate of little things to make it people’s go-to Square concerts was to tweak the show aren’t Stax- and Sun Records-based. the legal community on innovation. hangout spot. We really do want that to times from 4 p.m. until 6 p.m., leading “Traditional Memphis music is great This was the third year of ILTA’s Dis- be something for the community and into the dinner hour so that surround- for a tourist crowd and a convention tinguished Peer Awards program. Recipi- something for everyone to enjoy pretty ing businesses may benefit from the crowd, but a lot of times Memphians ents were presented their awards during a much any time of the day, seven days a foot traffic. have been there, done that,” Riggs said. ceremony on Aug. 30 in conjunction with week.” “We’re hoping that by making it just “There are hundreds of enormously ILTA’s annual educational conference That’s why the DMC targets Court a little bit later, people will linger a little talented professional musicians around held in Washington. Square for many of its events, “just to bit,” Vinson said. “So they’re coming not this city who don’t necessarily play Baker Donelson has more than 630 remind people that it’s there and what a just for the concert, but it is a dinner straight-ahead, what’s kind of stereo- attorneys and public policy advisers beautiful park it is.” One of which is the picnic type thing.” typical Memphis music. It’s really nice representing more than 30 practice areas. Court Square Concert Series, a month- Coolers, picnics, blankets, lawn to be able to give them a platform to It’s ranked as the 72nd largest law firm in long, family friendly string of free live chairs and friendly pets are welcomed. perform also.” the U.S. 16 September 21-27, 2012 www.thememphisnews.com

COVER STORy

Cooper-Young has matured into one of the largest historic districts in the Southeast, a magnet of all ages and walks of life. The 1.058-square-mile Midtown neighborhood is home to thousands of residents and hundreds of businesses and is a popular destination for local and out-of-towners alike looking to shop, eat or drink.

Cooper-Young neighborhood celebrates more than a century of revitalization Midtown Utopia

Story by Sarah Baker Photos by Lance Murphey

Of Memphis’ tales of humble beginnings, of which there are many, the property abandon and neighborhood distrust. fluctuating renaissance of the Cooper-Young neighborhood is certainly The turnaround was rooted in 1977 with the founding of the Commu- compelling throughout. nity Association. Residents started nightly patrols using radios and secret The area has cycled from its 19th century roots to 1970s crime and channels to the police. neglect to its present-day status as one of the largest historic districts in the A year later, the city would deem Cooper-Young as one of Memphis’ 10 Southeast, a magnet of all ages and walks of life. All thanks to individuals “neighborhood strategy areas.” Community activism earned the area a pilot and organizations that wouldn’t settle for sub-par quality in their tiny town project called the Midtown Demonstration Project, a pairing of public funds within the bustling Bluff City. and private investment that led to improvements in infrastructure, street “It’s always been an awful lot of fun, although it’s been a lot of work,” lighting, down zoning and code enforcement. said Bill Stemmler, vice president with Cadence Bank and one of the As Cooper-Young began to glimmer with potential, investors like Charlie Cooper-Young’s modern-day founding fathers. “You have to come in and Ryan began developing property. Now a 33-year-veteran of the area, he find ways to restructure it, support it and design it in such a way that you recalls building on what he had – homes that averaged a mere $20,000. feel like it’s going to work, and then follow it on a day to day basis almost to “We just looked around at what we had to offer, which in the beginning make sure it doesn’t get off track.” was very inexpensive housing stock,” Ryan said. “The whole journey has Bound by Central Avenue on the north, East Parkway on the east, South- been about taking what we have with the housing stock and the neighbor- Oern Avenue on the south, and McLean Boulevard on the West, the dense, hood commercial district and making it better.” 1.058-square-mile enclave boasts some 1,700 houses and roughly 200 The district continued to evolve, appealing to thrifty musicians and homegrown businesses. architectural enthusiasts alike, until its next milestone in 1988. That’s when The community attracts more than 50,000 tourists and locals each week, Ryan started the Cooper-Young Business Association to complement the and generates $2 million in sales tax annually. Cooper-Young’s annual Sep- Community Association, along with Stemmler and four other stakeholders: tember street festival, which just celebrated its 25th year, draws 120,000 in Stephen Crump, Richard Sullivan, Delmer George and Bemis Atkins. its 10 hours of operation, making it the largest single-day event in the city. “We set the mission as to promote the area as a good place to work, The area’s revitalization far precedes other Midtown efforts that have live, and shop, and to upgrade the facades and provide a sense of security,” finally received momentum this year like Overton Square and Sears Cross- Crump said. “To be an organ of communication with the businesses and town. And it’s Cooper-Young’s accordion to-and-fro throughout the decades with the neighborhood.” that makes its success story all the more meaningful. Stemmler had been involved in the area since 1985 during his first year The area, named after 1848 Alabama investor William Cooper, was with Boatman’s Bank, tracking the city’s progress with the Community Rein- developed as a blue-collar town when walking and streetcars were the main vestment Act. The federal law, established a few years prior, was designed to modes of transportation. The first 15 years of the 20th century would then advance low- to moderate-income neighborhoods. deliver 90 percent of its residential properties, the majority of which stands “I started looking for areas where we could make an impact and con- today. centrate what we were doing all over the city,” Stemmler said. “I came down That’s in addition to the eclectic 1915 business portfolio that in many here … because there were a lot of places that were boarded up. I walked ways mimics the diverse range seen there today – two grocery stores, two into Stephen (Crump)’s place, which is now Café Ole, with Hershel Lipow, physicians, a pharmacy, shoe repair shop, barber shop, coal yard, cotton who was head of Housing and Community Development for the city. We gin, ice house, auto company, lime and cement company, stone and lumber said, ‘what do you think about adopt-a-neighborhood like adopt-a-school? yard. The bank will bring things to the table.’ Stephen looked at me like I’d fell out Then came the 1970, when 43 percent of homes in the area were held by of a tree. He was skeptical and so was everybody else.” absentee owners. Retail moved out as banks denied home loans, resulting in Through that introduction to Crump, Stemmler began working with the www.thememphisnews.com September 21-27, 2012 17

Community Association towards obtaining a $500,000 Oasis project grant. Coo- per-Young won those funds in 1989, and pumped it into lampposts, streetscape, gingko trees, benches and a gazebo at the district’s namesake intersection. Further stabilizing the commercial artery was in 1991, when Boatman’s (now Bank of America) and Café Ole set up shop. A Co-Act police unit was also placed behind the bank to deter crime. Not stopping there, Stemmler realized that for the community to thrive, the dilapidated properties, particularly in the southeast quadrant, needed to be addressed. “There was a biker gang that occupied some property, and all of the housing over in that area was very sub-par,” Stemmler said. “There was a need for doing that not only in that area but all over the community.” The subsequent formation of the Community Development Corp. led to the renovation of dozens of homes and commercial properties throughout the 1990s, which in turn reduced poverty and neighborhood tension. In addition to organized community-wide street clean-ups, some 50 houses were repaired, painted, landscaped and even rebuilt through the Volunteers In Service To America program, for homeowners that otherwise wouldn’t have been able to do it on their own. All the while, Stemmler made $2.5 million in small business loans to entre- preneurs and individuals in the area. It was a process that required the elbow grease of various stakeholders, all working together for a common goal. Now drawing 120,000 visitors in its 10 hours of operation, the Cooper-Young Festival is the largest single-day event in the city. For the past 25 years the festival has drawn people to shop, eat, drink and listen to music along the main streets of the thriving Bohemian neighborhood.

“The place didn’t get this way over night from a deterioration standpoint and it doesn’t get revitalized over night,” Stemmler said. “It’s a lot of everybody’s time, effort and resolve to make all of that happen.” With the millennium and Cooper-Young’s growth came the Business Association’s decision to hire a director who could solely focus on media, promotions and the festival. That investment was returned exponentially as membership began to soar, neighbor- hood businesses collaborated on group advertising and public meetings were held. From 2000 to 2006, the Cooper-Young Festival went from 45,000 attendees to 85,000. In 2010, the neighborhood block party garnered national attention when it surpassed 100,000 visitors. Thanks in large part to the festival, the Business Association has donated more than $235,000 back into the neighborhood nonprofits over the past quarter of a century. Further augmenting the district’s brand recognition in recent years was the launch of Cooper-Young Night Out. This event, which still takes place on the first Thursday of each month, truly established the area as the city’s reigning entertainment spot and restau- rant destination. Today, Cooper-Young portfolio boasts tenants in nearly every sector imaginable, including plumbing, roofing, health and exercise, cosmetology, hospitality, insurance and commercial real estate. Cooper-Young is a haven for retail offerings, attracting a variety of small busi- “These businesses are run by the owners. It’s not a franchise or a chain,” said Tamara nesses and even larger chains – like the above pictured Urban Outfitters – to Walker, executive director of the Business Association. “These people, if they don’t make the neighborhood. Bound by Central Avenue on the north, East Parkway on the it, they lose everything. So they not only bring their ambition and their dollars, but they east, Southern Avenue on the south, and McLean Boulevard on the West, the also bring their friendliness because they want people to come back.” 1.058-square-mile enclave boasts some 200 businesses. What’s more, when retailers want to grow, they grow within Cooper-Young. Karen Carrier opened Do Sushi after several successful years of operating The Beauty Shop, as did Ryan Trim with Sweet Grass and his successive Next Door concept. State Farm’s Steve Womack moved three doors down when he needed more space, and Frank and Mindy Roberts’ original The Palladio Group has grown to 11 businesses along Central Avenue. “It’s not like they’re going, ‘Hey, let’s go out east,’” Walker said. “They’re going, ‘Hey, let’s go down the street.’” Perhaps Cooper-Young’s biggest retail feat was the landing of Urban Outfitters last year at the northern gateway of the district, a focus area of Ryan’s. Rather than being solicited, the trendy apparel and accessory company picked that piece of real estate through its own internal research. “Rather than the Poplar corridor or out East, they wanted to be in this urban, Mid- town, alternative setting,” Crump said. “And you see the license plates in the parking lot – Mississippi, Arkansas – they drive here because it’s a destination.” Bob Bob Bayne Homeowners also seem to be flocking to Cooper-Young’s early 1920s charm and cozy, bungalow-designed houses. Joe Spake of In-City Realty said the Bohemian neigh- borhood is attractive to people moving into town from larger cities because of its walk-

Bob Bob Bayne ability, diversity of residents and wide price range. “I think housing prices have trended at least as well as Midtown, and probably bet- ter considering that there wasn’t that much to start with,” Spake said. “Property values in Cooper-Young continue to be solid, and I see a trend of folks moving back into town from the suburbs because of the urban feel.” The road ahead appears to be especially promising for Cooper-Young, as options like enhanced parking and a grocery store are explored. Bike lanes and increased crime prevention efforts are taking shape. Meanwhile, First Congregational Church has plans make way for a green area to the south side of its building that could one day provide plug-ins for hybrid cars. Walker said the group already boosted morale when it set up shop in the 2000s by inviting neighbors to take part in its renovations, join its congregation, and utilize its daycare, hostile, sup- Cooper-Young is a popular restaurant destination thanks to 1,700 homes in the port groups and farmer’s market. area, 50,000 tourists and locals each week, and myriad new and longstanding “When First Congo got here, it added a whole new dynamic to the neighborhood,” offerings. Some of the choices include (clockwise from top left): Skunx Chef’s Walker said. “Once that gets done at First Congo, and then whoever buys LifeLink Pub, The Beauty Shop Restaurant and Lounge, Soul Fish Cafe and Tsunami church, we’re moving more to Southern. What that means for us is we’re branching. Restaurant. We’re not just right at the corner like we were for 10 years.” 18 September 21-27, 2012 www.thememphisnews.com

special coverage

special emphasis: Financial Services Return on Investment Banks, financial institutions find value in giving back to community

Andy Meek | The Memphis News civic force in Memphis. They are patrons, for example, of the city’s arts and parks. Banks write some ost people already know some of the biggest checks to area nonprofits, of the basic elements of the and bank executives staff many of those Mbanking business. nonprofit boards. They do everything From the large national lenders with from providing financial literacy educa- a Memphis presence to the community tion to supporting housing rehabs and banks in the suburbs, one common ele- development. ment is they make money by charging Joe DiNicolantonio, West Tennes- borrowers more than the bank pays in see area president for Regions Financial interest to depositors. Corp., is serving as the 2012 general The industry as a whole was pilloried campaign chairman for United Way of the during the Great Recession as a rapacious Mid-South. Separate from that, his bank’s profit machine, and banks – including employees in 2011 provided financial many locally – tried to counter that with education courses in more than 100 west things like constantly talking up the loans Tennessee schools. And during the month they’re continuing to make to homeown- Courtesy of Paragon Bank of September, Regions bankers will visit ers and business owners. Nancy Walls helps students with a craft during a visit to Hawkins Mill Elementary Shelby County schools, meeting with School. Paragon National Bank employees visit Kimberly Martin's 3rd grade class faculty about the benefits and features of That’s an attempt to show their value several times a year to play games, make a craft and provide the class with supplies. to communities. But it’s easy to overlook the bank’s financial products and services. another key feature of the bank industry’s whole doesn’t talk about it as much as it business. identity, partly because the industry as a does the elements of its core mission and That feature is the role banks play as a Return continued on P33

Since we opened in 2006: we have never accepted a single government bailout or any Federal assistance | we have grown our assets to over $300 million | we were one of only two local banks to post profits three years in a row in a challenging economy | we have been featured on Fox Business News to affirm how important community banks are in extending credit to family-owned businesses | we were named the second largest SBA lender in Shelby County and the eleventh largest in the entire State of Tennessee | we provided our customers the security of having a banker they know and trust | we never lost sight of why we opened in the first place — to bring genuine hometown banking back to the Memphis community.

Member FDIC Equal Housing Lender © 2012 Triumph Bank

triumphbank.com • (901) 333-8800 • Memphis • Germantown • Collierville • Arlington www.thememphisnews.com September 21-27, 2012 19

special coverage

special emphasis: Financial Services Marks Thrives With Challenge of Promoting Bank’s Services

JONATHAN DEVIN | Special to The Memphis News via smartphone are inex- million active smartphone enough for banks to determine trends in pensive enough that smaller subscribers. That’s a change how they are used. In terms of customer independent and community in how we market.” retention, Marks said the message to an Marks isn’t an information banks can offer them as well. Still, only about half of banks is quite clear. technology manager or a man- Smartphone-related ser- those smartphone users have Though it may sound counter-intui- Dagement information systems vices are now expected rather downloaded apps for mobile tive to offer services that keep customers analyst, but these days anyone promoting than exciting incentives. banking, meaning there is out of bank branches, technology keeps a bank is automatically invested in digital “When I started (at First still some growth potential in customers loyal longer. technology. Tennessee), the iPhone had that market. “We definitely see that as custom- The ever-changing world of Internet just launched,” said Marks. But smartphones and innovation is a bank marketing officer’s “Now there are over 110 Marks apps have been around long Marks continued on P33 best tool, and job No. 1 is being the first to find out what’s next. “The part I love about marketing is that there’s both an art and science to it,” said Marks, chief marketing officer for First Tennessee Bank NA. “It’s about ideas, but it’s applied creativity. “The reality is that art has intrinsic Are you struggling to value. With marketing, if it doesn’t create a result, there’s no value. (At First Ten- find time to focus on the nessee) we’ve become increasingly more most important thing — disciplined in assessing and optimizing marketing.” your customer? Marks contributed a chapter to the book “Lessons from the Top: Leading CMOs Share Their Case Studies” on mo- bile banking and its effect on the systems banks use to process payments. The book and the standalone chapter, titled “The Impact of Mobile on the Payment Sys- tem,” are available on amazon.com. Other topics in the book include social networking in banking, basics of market- ing, and technological issues in market- ing. “(Writing the chapter) was a fun way of taking myself out of the day-to-day context and giving some perspective on where the ball’s going,” said Marks. And in marketing, perspective is needed because new technology is being used by large numbers of people almost as soon as it becomes available. Marks is from Atlanta originally but went to college at Belhaven University in Mississippi. After graduating with a degree in business, he took a few years off and went to work for a business consult- ing firm, a choice he said widened his insight into different industries. HORNE CAN HELP “Periodically I talk to college students HORNE has a team dedicated to serving financial institutions with and I tell them if you can stomach it, services including loan review, regulatory compliance assistance, working at a consulting or agency busi- internal audit, board strategic planning, mergers and acquisitions ness right out of college really gives you a great accelerator in the experience,” assistance, forensic accounting, federal and state tax planning, www.horne-llp.com said Marks. “You work tons of hours, but information technology review, along with external audit and tax 901.759.7360 it gives you a ton of exposure. If you work compliance. HORNE is more than a service provider – we are for one company, you get one perspec- respected partners and trusted advisors who make a difference for tive.” He later got his MBA from Vanderbilt our clients and the communities we serve. and in 2003 joined First Tennessee as a strategy analyst. After a series of promo- For more information, contact Partner Rusty Butcher, CPA, tions, Marks became CMO four years ago. at [email protected]. At present he faces two big challenges in marketing the bank. First, Marks said, all banks, but especially the larger ones have a black eye from the economic crisis that arose from the collapse of the hous- ing industry. ALABAMA | LOUISIANA | MISSISSIPPI | TENNESSEE | TEXAS Second, most of the newer digital 1715 AA r ON BrENNEr DrI v E , SUITE 300, MEMPh IS, TN 38120 innovations that banks use to lure in cus- © 2012 h O r NE LLP tomers like mobile banking and deposits 20 September 21-27, 2012 www.thememphisnews.com

special emphasis: Financial Services First Horizon Honored for Technology Efforts

ANDY MEEK | The Memphis News technology. The company, which has a Chairman, president and CEO Bryan strong capital markets business as well as Jordan touts the bank’s spending on tech a regional banking unit with more than systems and upgrades routinely in his he parent company of First Ten- 170 bank branches in and around Ten- public speeches and in presentations for nessee Bank is one of the most nessee, won the top spot for transforming analysts. T tech-savvy banks around, accord- its information technology organization, First Horizon, which has now ap- ing to the information technology trade systems and infrastructure. peared on the list 10 times, ranked 14th publication InformationWeek. It was part of a massive overhaul that overall on the InformationWeek 500 and Memphis-based First Horizon Na- started in late 2010, when First Horizon is the highest-ranked bank in the 2012 list. tional Corp. walked away with first place upgraded or replaced every key business "Today when customers walk into in the banking and financial services system. It brought things like the ability one of our financial centers or call one of industry segment on the 2012 Informa- for customers to make deposits remotely our support lines they interact with our tionWeek 500 list, which recognizes the by snapping photos of checks with their employees who have at their fingertips nation’s most innovative users of business smartphones. more timely and relevant information

The parent company of First Tennessee Bank, whose smartphone app is seen here, was honored as one of the most tech-savvy banks. Memphis-based First Horizon National Corp. took first place in the banking and financial services in- dustry segment on the 2012 Information- Week 500 list, which recognizes innova- tive users of business technology.

about our customers' accounts, their relationships and their needs," said Bruce Livesay, executive vice president and chief information officer for First Horizon. "We are proud to be honored by Information- Week for using technology to best benefit our customers and our employees who serve them." First Horizon's technology overhaul included everything from upgrading core loan and deposit systems to deploying Well Above Expectations. mobile banking, and it sought to make it easier for customers to do business with the company. Now in its 23rd year, the Informa- tionWeek 500 tracks the information technology practices of the nation's most innovative IT organizations. In unrelated First Horizon news, meanwhile, the banking company con- tinues to be viewed as being in prime Your success hasn’t been based on average. Or normal. Or expected. You’ve pushed position to go shopping for other banks, when and if it’s ready, according to at least yourself to make a difference, and we don’t expect you’ll trust your assets to anyone one analyst. less focused, driven, and attentive. If you have exceedingly high expectations of a First Horizon chief financial officer William “BJ” Losch and First Horizon financial advisor, you’d do well to take a look at Duncan-Williams. director of corporate development and strategy Brian Mellone participated in a Wunderlich Securities Inc. conference call series on “The Coming M&A Super-Cycle from the Buyers’ Perspective.” According to Wunderlich bank analyst Kevin Reynolds, there are almost 2,400 banks based in the South with assets of less than $1 billion, and more than 40 per- cent of them have CEOs older than 60. “With increased capital requirements, a heavier regulatory burden, slower economic growth, and a very difficult interest rate environment, it is clear that a massive wave of consolidation is needed, DuncanWilliams.com · Memphis, TN · 901-435-4000 · Member FINRA, SIPC, BDA, WBENC and FHN could participate in a thought- ful, disciplined manner over the next few years,” Reynolds wrote in a recent analyst note. www.thememphisnews.com September 21-27, 2012 21

special emphasis: Financial Services Financial Industry Continues to Evolve

ANDY MEEK | The Memphis News

ere’s a roundup of what some several people to its Private Client Group across Memphis every day,” said Ari working, leadership, mentoring and other of the city’s banks and bankers, and Equity Capital Markets businesses Litvin, Wells Fargo Advisors Mid-South skill-building opportunities for women. Hinvestment professionals, and in recent months. With these hires, the complex manager. “We have 50 percent women in our other financial services shops have been equity capital markets division today has Likewise, the Bank of America office, and plenty of our up-and-comers up to in recent weeks. 18 senior analysts covering about 210 Charitable Foundation recently awarded are women,” pointed out Megan Mur- On the personnel front, Financial companies in five industry verticals. And $35,000 in grants to Memphis nonprofits dock, client development manager at Federal recently appointed bank presi- the equity capital markets sales force has that provide services including building CBIZ. “And I think it’s important to let dent William Tayloe to the board. Tayloe grown to 23 senior salespeople, 10 trad- and rehabbing of affordable housing, them know there’s a network for them will be responsible for repositioning and ers/sales traders, and 19 senior invest- homeowner counseling, and foreclosure within the firm, that there’s a support expanding the company's presence lo- ment bankers. prevention programs. The funds are part system for them.” cally and elsewhere. Duncan Williams Inc. recently hired of $22 million in housing-related grants On the awards front, Orion Federal Magna Bank has named Kim Weaver about two dozen recent college gradu- that will impact low- and moderate- Credit Union was recently recognized as its first vice president of private bank- ates from around the country for a newly income communities in 34 states. among the best-of-the-best in credit ing. Weaver, who has worked in banking launched Financial Adviser Training Other financial firms do good also by union marketing worldwide by the Credit in the Memphis area for more than 25 Program. looking inward. Accounting and consult- Union Executives Society, CUES, in its years, will primarily work with clients in There’s been a noticeable ground- ing firm CBIZ MHM Thompson Duna- annual Golden Mirror Awards competi- the medical and professional industries. swell of charitable efforts and gift giving vant has launched a professional devel- tion. With Weaver’s hire, Magna now has of late. Wells Fargo managers and team opment and networking program for CUES recognized the achievements five private bankers available to give members, for example, recently chose 13 women executives in the firm’s Memphis of Orion for its creative marketing efforts. customers in-depth service across its nonprofits across the Memphis area for office. Orion received two awards of merit for branches. grants as part of Wells’ annual Days of The program is a yearlong initiative Logo and Image Enhancements. B. Brandon Bryant has joined First- Giving program. comprised of a series of small group And a tip of the hat goes to Dan Capital Bank as vice president of com- It marked an expansion from last year, meetings and program action items, and Marks, First Tennessee Bank chief mar- mercial lending. He brings more than in which eight groups were recognized. it represents the increasing reality that keting officer, who is now a publisher 20 years of financial experience to the This year, those 13 groups got $1,000 accounting is no longer heavily domi- author. He’s written a chapter for an up- position and is located in the Laurelwood checks from Wells. nated by men. Also, it’s a nod to the fact coming book available at Amazon.com. office on Perkins Road Extended. “Days of Giving allows us to applaud that the growing number of women in the The chapter is titled “The Impact of Wunderlich Securities Inc. has added the nonprofits who serve and help people field necessitates a greater focus on net- Mobile on the Payment System.” 22 September 21-27, 2012 www.thememphisnews.com

special emphasis: Financial Services Duncan-Williams Adds Young Talent

Andy Meek | The Memphis News Williams Inc. decided to launch its Financial Adviser We do that (encourage Longtime Memphis wealth manager Training Program, to begin in the summer, volunteerism) because Investment firm Lane Carrick is standing at the front of the and it simultaneously checks off several that is what we feel makes room. He’s lobbing questions at the group, boxes embedded in the Memphis invest- a financial adviser have a launches Financial which is studying a variety of principles ment firm’s culture. under Carrick’s instruction related to the The private client group within better understanding of Adviser Training investment and finance business. Duncan-Williams represents the largest his or her “community.” Down the hall in a separate meeting growth opportunity for the firm, according Demetri Patikas Program with some of the firm’s executives is firm to executive vice president Demetri Pati- Executive vice president, Duncan-Williams Inc. president Duncan Williams, who has been kas. And the firm sees three major ways of t’s a Friday afternoon, and a group of excitedly talking for months about his plan growing that group – through acquiring two dozen young professionals and for the group in the other room. other firms, acquiring seasoned advisers shaking its culture. The third option is Irecent college graduates has a room That group represents the culmination and growing organically. a longer-term way for the firm to both to themselves at the end of one hall in the of an ambitious project Duncan-Williams The first two options are part of the preserve its culture and give back to the headquarters of investment firm Duncan- has undertaken. In February, the firm firm’s strategy, but they carry the risk of community. And that’s exactly what the firm is pursuing with the training program, which kicked off within the last few weeks. It’s brought in a group that includes young professionals from locales like Atlanta; Boise, Idaho; Brooklyn, N.Y.; and Nashville to the firm, among other places. At the outset, the firm got 500 applicants in 90 days. That list was narrowed down to 50 potential participants, who were inter- Present Tense viewed in person. From there, the firm cut The Art of Memphis from 2001 - Now it down to 25. The group members have taken to each other fast. Some of them are already roommates. Not long after arriving, they were asked to make Heisman trophy- eqsue poses for photos, which was one of many icebreakers. “This kind of out of the box thinking is what sets us apart,” Patikas said. “I told each applicant, ‘You need to realize that you are applying for a job that carries a tremendous responsibility.’ “A (financial adviser) handles a ‘top three’ for an individual. If you ask anyone what their priorities are, they will tell you faith, family and finances. We are looking for people who are willing to be the shep- herd of a client’s top three in their life. That is serious business.” Duncan-Williams didn’t just recruit a new crop of talent to enhance the firm. The group also is intended to be a boon for the city, since the firm is requiring

Maysey gouache, Craddock, Field’, ‘Midnight silk thread 2007, on paper, Collection of Carissa Hussong and David Lusk each participant to get involved in three nonprofits within the first 90 days of the program. The firm wanted the class of trainees to “Memphis is a city symbolic of creativity and artistic vitality. It connotes a reflect what Duncan-Williams represents sense of deeply rooted authenticity that manifests itself in the works of its February 3 – April 10, 2013 as a company and how it feels about the many incredible artists. ‘Present Tense: The Art of Memphis from 2001 - Now’ business. And Patikas said both of those opens at the Dixon Gallery in early 2013, and captures the energy and are different than the norm. “First, as a company, we are out-of-the- diversity of the city’s contemporary art scene. Featuring over 100 works box thinkers because Duncan is one and from more than sixty Memphis-area artists, ‘Present Tense’ reveals the has tried to surround himself with others,” unique spirit that makes our city such a vibrant and fascinating place.” dixon.org Patikas said. “Naturally, I wanted a class Jim Meeks – Managing Partner full of young men and women who are willing to stretch their mind. In my opin- ion, the financial services industry is much more in need of problem solvers like that than cookie cutter employees who just fol- low the herd because they think it will lead them to a dollar. insurance / MEMPHISinvestments / ideas® “Secondly, we think that this busi- ness is as much about the community as anything. I am not just talking about the typical corporate sponsorships to get ones’ present-tense-memphis.com name out in the public. … With 25 new trainees, that means 75 new volunteers in the city. We do that because that is what we feel makes a financial adviser have a better understanding of his or her community.” www.thememphisnews.com September 21-27, 2012 23 special emphasis: SMALL BUSINESS SPOTLIGHT Mysterious Human Connections Slow, Steady Growth Suits Everyday, most of us sit and routinely use computers that are somehow connected to virtually every part of the planet we inhabit. Recently we have viewed events occurring as Summit Asset Management far away as Mars. And we do all this wire- lessly. I suspect most of us do not question it, or even find it all that unusual, that we

MICHAEL WADDELL receive signals over long distances without Special to The Memphis News any connecting wires. In view of this, maybe you won't find it so unusual that signals also pass between and or Summit Asset Management among human LLC, steady organic growth beings interacting Fover the past 20 years has been with each other. spurred by building strong local rela- The fact tionships. that human The independent financial plan- beings some- ning and investment advisory firm is chris cRouch how wirelessly locally owned by lifelong Memphians SMART STUFF 4 WORK communicate and prides itself on an ability to always with each other be available for its clients. first grabbed my attention years ago when The fundamentals have not I attended a comedy club performance. To changed much for Summit since Frank say the least, on this particular night the Jones informally founded the firm in comedian was absolutely bombing. After a the late 1980s and it became registered few moments, my nervous system seemed with the SEC in 1991. to resonate in sympathy with his dilemma. In “Everyone will always be trying to Photo: Lance Murphey Lance Hollingsworth, from left, Alex Thompson and John Laughlin are principals short, I felt a palpable sense of relief when his save for the future, save for college or of Summit Asset Management. Thompson is managing partner. act finally ended. save for retirement. Our goal is to edu- On the opposite end of the emotional cate our clients and help them reach scale, I initially went to see the movie “My Big their goals and objectives through bility in Europe. problems involving one of the “4 Ds”: Fat Greek Wedding” in a very crowded theater. proper investment management and “We’re in unusual times right now,” Death, Disability, Divorce, or business Later, I watched the same movie in my home. planning,” said partner Lance Holling- said Thompson, referring to the cur- Disagreements. sworth, who joined forces with Jones rent 1.7 percent rate for fixed income “Certain problems might come up It was as if I was watching a totally different in 1995. yields. once in a lifetime for an individual, movie. Being in the crowded theater among all Alex Thompson and Steve Rhea Hollingsworth agreed, saying, however, we might see them multiple the laughter created a very different experi- came on board as partners in late 1998, “We’re dealing with conditional volatil- times each year. So we can bring that ence from that of watching the movie alone. and they teamed with Hollingsworth ity that really was not present in the expertise to the table to help walk them Somehow, people in physical proximity to to form a new partnership to buy out previous 20 years, so we are educating through those issues,” Hollingsworth each other telegraph their emotional states to Jones’ existing interest in the firm. our clients to have patience and look said. each other. Jones continued to work with Summit for opportunities in this low-return Summit tailors its investment man- We often hear about the importance of for the next few years. John Laughlin environment.” agement for specific client goals and mental attitude in the business environment then joined their team in 2001 and The mid-sized firm maintains a situations involving risk assessment, … and in life. I think this element of wireless became a partner in 2007. focus on trying to create a relaxed asset allocation, and portfolio imple- communication among humans has much to Sadly, Summit lost partner Rhea in “kitchen table” atmosphere where mentation and monitoring. The firm’s do with the influence of attitude on interac- May following a yearlong battle with clients can feel comfortable discussing client base consists of individuals, tions. If performers and members of a crowd cancer. Rhea was diagnosed with a their issues. families, businesses, trusts, retirement can somehow telegraph their emotional brain tumor in April 2011. Summit navigates clients through plans for corporations and medical states to each other, it would seem logical that Following Rhea’s death, Thompson situations ranging from simple will groups, and charitable endowments this would also go on between and among sees 2012 as a year of consolidation for revisions to very complex multifamily with accounts ranging from $100,000 people interacting in the business world. Summit. business transitions involving partner- to $20 million. The firm currently man- I have since discovered a few books and Areas of interest heading into ships, trusts and siblings that may or ages approximately $440 million in articles on a topic referred to as limbic reso- next year include upcoming state tax not get along with each other. assets. nance and limbic regulation (limbic having changes, historically low fixed income Summit mentor Herbert Rhea to do with the parts of the brain and nervous yields and the ongoing financial insta- once quipped that they often faced Summit continued on P33 system that drive emotions). Here’s the bottom line: when two people interact, their attitude and emotional state strongly influences the outcome of the interaction. For example, if you are the boss and you walk in the office one morning using voice tone, words and body language that Our lenders work hard to make telegraph sadness, anxiety or anger you may be setting your workgroup up for, shall we banking your most productive say, a less than productive day. And what business relationship. about a salesperson who does this when they interact with a prospect? A sale is not likely to happen in this situation. In this short article I can only scratch the surface of this topic. Want to know more? Get a copy of “A General Theory of Love,” a book about the science of human emotions and biological psychiatry by Thomas Lewis, Fari Amini and Richard Lannon. Don’t let the word love in the title hold Andy Pierotti you back. This book contains some valuable Andrea Gladney information for business professionals. And Mott Ford Midtown Downtown East Memphis 2000 Union Avenue 50 North Front Street 510 South Mendenhall Road watch your limbic transmissions! Brian Lowery 901-272-7300 901-432-7300 901-888-2265 24 September 21-27, 2012 www.thememphisnews.com

real estate & DEVELOPMENT news

Real Estate IP Looks to Future Following Temple-Inland Acquisition

BILL DRIES | The Memphis News

hen International Paper Co. ing economies where there were no mar- about the Temple merger in terms of jobs integration. The company’s acquisition moved its headquarters to kets before and no way to get to them. it might bring to Memphis. of Weyerhauser in 2008 has been used to W Memphis in 1987 it was an eco- The latest transformation of IP was “Our Memphis footprint is more or some degree as a model for the Temple nomic development milestone for Shelby pronounced completed earlier this year less the same as we integrate Temple – the Inland acquisition, although Faraci has County. by CEO John Faraci with the acquisition of possibility that some more jobs will come said the two are a bit different. Memphis had lost to Spring Hill, Tenn., Temple-Inland of Austin, Texas, capping into Memphis,” Faraci said in an April “We bought the company, not the for the Saturn car plant just a few years the period of change. interview with The Daily News. “Temple business,” Faraci said in April, referring to earlier. Southern states were among the And that acquisition is among the is pretty much a North American-based Temple. most competitive in the nation in the reasons International Paper is now looking company and we’re not going to be oper- Weyerhauser came three years after wake of a late-1970s to early 1980s reces- for more headquarters space. ating out of Austin.” IP took another big step away from the sion in which Memphis and other cities "In an effort to meet current and fu- Faraci told analysts last week at the corporation it was when it moved to Mem- saw their factories and manufacturing ture office space needs for its global head- UBS Global Paper and Forest Products phis in 1987. companies begin to turn into the rust belt. quarters, International Paper is evaluat- Conference that Temple’s integration into IP sold its timberland holdings in 2005 Memphis Mayor Dick Hackett and ing options for additional space,” read a International Paper is going faster than and the cash generated led to the reposi- Shelby County Mayor Bill Morris at the written statement from the company late anticipated. tioning of International Paper, Faraci said. time went to New York to meet with IP ex- last week. “We are not ready to go into “Eighty-five percent of what they do is The company’s chief financial officer, ecutives who would be making the move detail about the evaluation process at this what we do,” he said at the New York City Carol Roberts, spoke Sept. 6 at the Bank to the city. And among the questions they time, nor what those options are. We can conference. of America Merrill Lynch Industrial and fielded were whether Memphis Interna- say that this is a necessary and important “Temple was shipping a lot of boxes Materials conference in Boston. tional Airport could handle big commer- step as we plan for International Paper’s a lot of miles, running a lot of box plants Roberts’ take on IP “post-transforma- cial passenger airlines and whether the future." 24/7. We looked at that and said that tion” is that it is more weighted toward streets were paved. The three-sentence statement doesn’t doesn’t make a lot of money.” packaging than paper. Twenty-five years later, Interna- indicate whether the options for more Faraci also told analysts the worldwide “The one thing we are convinced of tional Paper is a global company that has space might take the company out of company “has not been and will not be a is there is more earnings potential in the changed several times over as the world Memphis. bigger is better strategy.” company,” Roberts said. “We still have market has become broader with emerg- But several months ago Faraci talked IP is not a stranger to mergers and some debt we need to repay.”

INKED Snyder’s-Lance Inks Deal on Airways in Southaven

SARAH BAKER | The Memphis News Solutions inked 11,433 square feet in Shadow Creek II, taurant, which inked its first lease in July at 4275 Summer 3340 Players Club Parkway. Ave., is similar in price point to the old Dobb’s House and The Lake Mary, Fla.-based financial technology firm is CK’s Coffee Shop, yet slightly more upscale and inviting. well-known snack food company has boosted its a national provider of banking software. Harland Finan- “E’s is opening after a total remodel: new furniture, distribution presence in the Memphis area. cial will relocate from a 7,981-square-foot space in nearby fixtures, walls, floors, ceilings, bathrooms, and parking lot A Snyder’s-Lance Inc. signed a 26,757-square- Southwind Village Center by the end of October. re-paved,” Crain said. “We should have it open before the foot lease at Airways Distribution Center Building F, 8425 The tenant was represented by Henry Stratton, vice end of the month.” Airways Blvd., in Southaven. president of brokerage services with Colliers International The Tushek Co. LLC has hired general manager Ron The Charlotte, N.C.-based firm manufacturers and Memphis and Clint Dansby, executive vice president at Eanes, who has more than 20 years of experience in the markets pretzels, sandwich crackers, potato and tor- Dallas-based Strategic Realty Consultants LLC. Tony Argi- restaurant business. Crain said Eanes’ expertise includes tilla chips, restaurant style crackers, cookies and nuts. ro, director of leasing with Raleigh, N.C.-based Highwoods new store development and turnaround of under-per- Snyder’s-Lance has manufacturing facilities in North Properties Inc., represented the landlord. forming stores. Carolina, Pennsylvania, Iowa, Indiana, Georgia, Arizona, Argiro said Harland Financial’s new lease speaks to Barry D. Maynard, broker with Trezevant Realty Corp., Massachusetts, Florida, Ohio, and Ontario, Canada. the viability of Shadow Creek II’s location and design. For represents E’s 24 Hour Café exclusively, but handled both The company’s new distribution center in northwest example, when Nationwide Insurance closed its Memphis the landlord and tenant in negotiations. Mississippi will increase its operations in the area while office and vacated the building’s third floor last year, the Maynard said E’s 24 Hour Café will eventually branch creating six new jobs, said company spokeswoman An- space was backfilled with Qsource a few months later. And out with catering and is also in talks about opening some drea Bartman. in this case, Harland Financial’s office will promptly fill mobile food trucks to visit venues like fairs, concerts, “This warehouse is perfect for us because it’s centrally the space left available by Integra Logistics LLC. Downtown events and festivals. located,” Bartman said. “It does a lot for us in providing “It’s a building that in and of itself has a flexible lay- with excellent access into the Memphis area, and it also out to it,” Argiro said. “It’s able to accommodate In other deals, G&S Electrical Services LLC allows for easy access into Alabama and Mississippi.” different users from different backgrounds.” signed a three-year lease extension for 11,250 The lease brings Airways Distribution Center’s 2.7 square feet in Bellbrook Industrial Park, 3146 million square feet to full occupancy. The Class A busi- Meanwhile, E’s 24 Hour Café signed Norbrook Drive. ness park is home to tenants like Kimberly-Clark Corp., a lease with Sloan Properties for existing The locally owned and operated electrical Siemens Building Technology Inc., Bunzl Distribution, 1,400-square-foot CK’s Coffee Shop building and lighting contractor provides maintenance, PFSweb Inc. and StyleCraft Home Collection Inc. at 1308 Union Ave., as well as a ground lease repairs and improvements to about 2 million Patrick Burke, senior vice president with CB Richard for the 6,795 square feet of land across from customers in the tri-state area. Ellis Memphis, represented the tenant. Tim Moore, vice Methodist University Hospital. president of leasing for Atlanta-based Industrial Develop- E’s 24 Hour Café is owned by The Send commercial lease announce- ments International Inc., represented the landlord. Tushek Co. LLC, made up of Eric Tushek, ments to Sarah Baker, who can be who also owns four local TCBY stores, reached at 521-2464 or sbaker@ In other commercial leasing news, Harland Financial and his stepfather, Rip Crain. The res- memphisdailynews.com. www.thememphisnews.com September 21-27, 2012 25

news

Real Estate & Development Herenton’s Banneker Estates Home Moves in Short Sale

Sarah Baker | The Memphis News house was on the market for more than County Assessor of Property is $593,100, reach Washington for comment on the 230 days. The sales price was less than half and annual county/city taxes are $5,961 transaction. of the property’s 30-year, $706,647.11 note and $4,728, respectively. Worthy said Washington bought the he home of former Memphis Mayor that Herenton borrowed in June 2008 with Worthy said while the home was ap- house as “her home residence.” Wash- Willie W. Herenton in Banneker Es- Wells Fargo Financial Tennessee I LLC. praised for significantly more than its sale ington was once an agent with Lawrence Ttates’ gated community has traded The Horn Lake Road home was origi- price, Washington “made a good deal.” Johnson Realtors Inc. hands for $350,000 in a short sale. nally listed as a short sale – a house sold “It’s just that the lenders decided that it The two-story property contains 15 The single-family home at 5281 Horn for less than is owed against it – with B.J. was clean, cut and dry – she wasn’t asking rooms, including an entry hall, living Lake Road in the McKellar-Whitehaven- Worthy with RE/MAX on Track in January for anything, so they accepted her offer,” and dining rooms, a den/great room, a Levi PD neighborhood was sold to Tamara at $399,000, was reduced by $29,100 in Worthy said. breakfast bar and separate breakfast room, G. Washington on Aug. 27, according to the March and ultimately another $19,900 at The house is now one of several that a keeping/hearth room, a library/study, an Shelby County Register of Deeds. Wash- final sale. It’s the second house Herenton Washington owns. The Shelby County As- office, an exercise room, a sitting room, a ington also filed a $150,000 mortgage with has sold in Banneker Estates in a short sessor of Property shows she owns homes loft/balcony, a powder/dressing room, a Community Mortgage Corp. that matures sale, Worthy confirmed. on Holmes, Rosecrest, Ford and Tulip “man cave” and in-law quarters. Herenton in September 2032. Built in 1992, the home sits on 4.7 roads – all in Memphis’ 38109 Westwood developed the house in 1991, the same The 6,582-square-foot, five-bedroom acres. Its 2012 appraisal from the Shelby ZIP code. The Daily News was unable to year he was elected Memphis mayor.

400 Mahannah Ave. Details: Private investor Dr. Har- Memphis, TN 38107 vard Stephens has bought a 272-unit REAL ESTATE RECAP low-income housing complex near Permit Costs: $18 million, $14 mil- Memphis International Airport for lion and $1.5 million $1.3 million, or $4,780 per unit. Project Cost: $316 million Built in 1972, the Class D Prescott LeMoyne-Owen to Begin Permit Date: Applied September Place Apartments, 3461 Steve Road, 2012 has been owned by Alabama-based Work on Residence Hall Owner/Tenant: KTG USA entity Prescott Place Apartments LP Contractor: AMEC Kamtech Inc. for seven years – when the company Details: Kruger Products’ KTG bought it for $5.3 million. Kate Simone | The Memphis News USA is continuing the $316 million The complex is situated on 13.1 Walker Ave expansion of its tissue manufactur- acres on the south side of Steve Road ing plant north of Downtown, filing east of South Prescott Street, with more than $33 million in building the south end bordering Interstate permit applications for the proper- 240.

Dr Hollis F Price St Price Hollis F Dr ty’s converting and tissue machine Over the past several years, the buildings. Shelby County Assessor’s appraisal Saxon Ave The permits come at the same time of the property, which uses the ad- LeMoyne-Owen as a KTG hiring push; the company dress 1747 Morlye St., has steadily Residence Hall held a Memphis job fair Monday, decreased. Its latest appraisal is $2.8

Edith Ave Sept. 10, and is holding similar fairs million, down from $4.1 million five Neptune St in Southaven and Olive Branch years ago. Mississippi Blvd Ida Pl Tuesday, Sept. 11. The applications include $18 million 4805 Winchester Road E McLemore Ave for the tissue machine building’s Memphis, TN 38118 869 Saxon Ave. • Memphis, TN 38126 process piping, $14 million for the same building’s electrical work Loan Amount: $7.1 million and $1.5 million for the converting Loan Date: Sept. 6, 2012 869 Saxon Ave. building’s process piping, according Maturity Date: n/a Memphis, TN 38126 to the city-county Office of Con- Borrower: Highland Pines Town- struction Code Enforcement. homes LLC Permit Cost: $9 million AMEC Kamtech Inc. is the contrac- Lender: Wells Fargo Bank NA Permit Date: Applied September 2012 tor for the project. Details: The New York-based owner Project Cost: $13.5 million KTG USA parent company Kruger of Twin Oaks Townhomes on Win- Owner/Tenant: LeMoyne-Owen College Inc., Canada’s leading tissue manu- chester Road has financed the prop- Architect: Chasm Architecture LLC facturer, announced last August erty for $7.1 million. Highland Pines Contractor: W.G. Yates & Sons Construction Co. plans for major growth – includ- Townhomes LLC, which secured Details: LeMoyne-Owen College is moving ahead with construction of its 336-room ing another building, a new tissue the multifamily loan through Wells residence hall at the northwest corner of Saxon Avenue and Neptune Street, filing a machine and conversion of other Fargo Bank NA, bought the 253- $9 million building permit application for the four-story dormitory. A groundbreak- equipment – at its 400 Mahannah unit, Class C complex in October ing ceremony was held Sept. 20, at 10 a.m. W.G. Yates & Sons Construction Co. is the Ave. facility, between North Second 2010 for $4.6 million. contractor for the project, according to the application filed with the city-county and Thomas streets. Twin Oaks – formerly branded High- Office of Construction Code Enforcement. The residence hall, which will also house land Pines Apartments – is situated a computer center, game room, two lounges and four laundry rooms, is financed 3461 Steve Road on a 14.1-acre, L-shaped parcel at with a $13.5 million loan from the U.S. Department of Education through the depart- Memphis, TN 38111 the southwest corner of Winchester ment’s financing program for historically black colleges and universities. LeMoyne- and Outland roads in Winwood Owen College president Johnnie B. Watson said the loans are not easy to obtain and Sale Amount: $1.3 million Commercial and Industrial Subdivi- have rigorous standards. Construction of the 87,000 square foot building begins as Sale Date: Aug. 13, 2012 sion. The Shelby County Assessor LeMoyne-Owen marks the 150th anniversary of the institution’s founding as a school Buyer: Dr. Harvard Stephens of Property’s 2012 appraisal for the for freedmen during the Civil War. The dorm is part of the school’s effort to build Seller: Prescott Place Apartments complex, which uses the address more of a campus community for the college. LP 3647 Outland, is $4.3 million. 26 September 21-27, 2012 www.thememphisnews.com

Community Difference of Opinion

BILL DRIES | The Memphis News

Groups looking to redevelop Vance area at odds on future of Foote Homes

emphis Mayor A C Wharton Jr.’s administration and a group of Mneighborhood leaders in the Vance Avenue area agree on highlighting the significant history of the area south of FedExForum. Some kind of trail linking up more than a dozen sights is a feature both groups are planning for the area. But the groups part company on Foote Homes, the last large public hous- ing project left standing in Memphis. When the Vance Avenue Collaborative unveiled its proposal for redevelopment of the area, most of the 150 people at the standing-room-only meeting at the St. Photo: Lance Murphey Patrick Learning Center wanted to talk St. Patrick's Church sits south of the FedExForum near the Vance Avenue corridor. A Vance Avenue Renaissance Plan unveiled about saving Foote Homes. this month by the Vance Avenue Collaborative is intended to revitalize the neighborhood south of FedExForum. “The two things don’t have to be at odds,” said Ken Reardon, director of the Some from the neighborhood, where munity.” tions, including a grocery cooperative University of Memphis graduate program many of the marches during the 1968 A sign outside the center read “Take A instead of a direct line to private financ- in city and regional planning, which is sanitation workers strike began, talked of Stance On Your Vance.” ing and development. helping the collaborative. “They can be switching the strike’s iconic “I Am A Man” The group, which included leaders of The city’s efforts in past HOPE VI reinforcing of each other.” signs for ones reading “We Are A Com- the Memphis branch of the NAACP and transformations have been to lever- several church congregations in the area, age federal funding to create private left the meeting with plans for a march investment in the area. Once the private to City Hall, possibly Oct. 16 when a City investment moves in, the city’s role gener- Council committee takes a look at the ally cuts back with a reliance on market plan. forces. Several speakers at the meeting Reardon said the area is already a marked it as the beginning of what is the neighborhood that needs a lot of human first serious opposition to the demolition services more than a new neighborhood of a housing project in the city. The proj- built atop the existing one. ects began to fall in the late 1990s with “We could expect that next April there federal funding under the federal HOPE would be a request for proposal for the VI program. (federal) Choice Neighborhood grant,” But over the years, the terms of the he said of the possibly $30 million to $35 program have changed to include more million in funding. “It’s the first layer of support and transition services for public what hopefully would be multiple public housing residents leaving the projects. sources of funding as well as private Some return to the newly built mixed-use investment.” mixed-income developments. The collaborative is proposing to use The Vance Avenue Collaborative plan the federal funding that might come for makes the case for keeping Foote Homes demolition of Foote Homes for a move and keeping it occupied. toward better flood control in the area. “In this case, redevelopment has to be “The Little Betty Bayou was filled in. 2012 based upon the fact that this is already a Well, the water is still there,” Reardon traditional neighborhood, whose street said. “So the second part of this plan is ExcEllEncE in and plot morphology still reflect those to create a beautifully landscaped linear principles that are often used to ‘re-create park by excavating – uncovering or day- new’ that ‘looks like old,’” the report lighting that long submerged bayou and construction reads. “In this case there is no need to make it a critical greenway amenity for clear large sites and readjust street grids that neighborhood.” and install the full packet of required Other parts of the plan include a public improvements that are usually supermarket at Third Street and Vance needed to transform a cleared site into a Avenue or some other site nearby to start set of developable parcels.” a neighborhood-oriented retail district. AwArds City Housing and Community Devel- The anchor for the district would be a opment Director Robert Lipscomb has “cooperatively owned and managed food said the administration is also working store” with complementary retail. See all of the finalists and winners at on a renovation of Church Park as well as Reardon has been involved in hard- Clayborne-Ball Temple, an iconic church fought efforts to bring a conventional www.memphisdailynews.com that is now being offered for sale. supermarket to the South Memphis The difference in the collaborative area that led in 2010 to the creation of a plan beyond preserving the public hous- farmers market farther south of Vance ing units at Foote Homes is the collabora- Avenue, at South Parkway and Mississippi tive’s reliance on public-private institu- Boulevard. www.thememphisnews.com September 21-27, 2012 27

Small BUSINESS Workshop to Show How Business Growth Needs Focus on People

Andy Meek | The Memphis News order to grow, and those four decisions are breaking things down to how defined is the around people, strategy, execution and culture. It’s about how identifiable is the The people portion of the cash. Next month’s workshop is organized culture on the individual level. workshop ties your people teve Jobs was famously meticulous around those four decisions and teaches “When it comes to hiring and develop- and your processes for about building out a certain kind of the participants how to address them ing ‘A players,’ people look at ‘A players’ hiring and growing people to Sleadership team at Apple, with a view better and then coordinate them into a based on where they’re coming from and toward ensuring the company would be one-page strategic plan. too often forget about what that means for strategy.” able to thrive long after its visionary co- “The people portion of the workshop where they’re going to be.” – Michael Synk Author, business“ coach and strategy expert founder was gone. ties your people and your processes for Synk said the people decisions all The “people decision” is just as im- hiring and growing people to strategy,” relate back to a basic question that must portant to organizations much smaller Synk said. “If you have better people, strat- get addressed by companies that want At the end of the day, attendees will leave than Jobs’ tech titan. And at a daylong egy is easier. Execution is easier. Every- sustainable growth. Would the leaders of in part with a baseline strategic plan and a workshop next month, sponsored in part thing is easier.” those companies enthusiastically rehire checklist for execution. by The Daily News, author, business coach Put simply, this instruction will focus all of their people? If not, what percentage In addition to The Daily News and and strategy expert Michael Synk will help on not only how to get the right people, would they rehire? Adams Keegan, other sponsors of the event underscore for business leaders just how but how to get the right people doing the If the number is less than 80 percent, and the decision points those sponsors are important people are to a business’ growth right thing within a company. your people might be the factor holding tied to include Century Wealth Manage- prospects. “We answer this question pretty fre- your company back, Synk said. ment (Strategy Sponsor), Decosimo Certi- People comprise one of four decision quently,” said Charles Rodriguez, consult- “The workshop introduces participants fied Public Accountants (Execution Spon- points Synk will lay out for attendees of ing and program development director to ‘TopGrading,’ a method for hiring ‘A sor) and Triumph Bank (Cash Sponsor). The In-Synk Plan Forward Workshop, to be for Adams Keegan Inc., the sponsor for Players’ from outside the company, and The workshop is $500 per person, $400 held Oct. 18 at the University of Memphis. the workshop’s people decision segment. creating ‘A Players’ from within the com- per person for teams of four or more, and It’s part of the Four Decisions model, a “We work with small- and medium-sized pany,” Synk said. “The workshop also ad- $400 for Young Presidents Organization, strategic planning model popularized by businesses every day and help owners and dresses alignment of your people – getting Entrepreneurs Organization, Vistage, Clar- the book “Mastering the Rockefeller Hab- managers figure out their strategies for hir- the right ‘A Players’ in the right seats doing ity Council, and Society of Entrepreneurs its” and offered through Gazelles Interna- ing people. Once you get out of that For- the right things.” Insight Group Members. To learn more, tional. tune 500, upper-level enterprise strategy The workshop will begin at 8:30 a.m. visit www.in-synk.com or www.planfor- The model refers to the key decisions and into companies where the principles in the Fogelman Executive Center at the wardworkshop.com, call 488-8172 or email that leadership teams have to get right in are directly involved with staff, we look at University of Memphis and finish by 5 p.m. [email protected].

DATE: THURSDAY, SEPT 27TH 11:00AM

PRESENTS SITE: CRYE-LEIKE REGIONAL HDQTRS. MEMPHIS 101 6525 QUAIL HOLLOW RD (4TH FLOOR) • MEMPHIS, TN 38120

Take part in this free, interactive crash course* in Memphis culture, people and politics revealing why Memphis is the place it is today and how our history impacts where we are headed.

Seating is limited so please RSVP now to reserve your spot.

Sponsored by

Tuesday, October 2, 2012 3:00- 5:00 pm

Benjamin Hooks Library (Meeting Room C) 10% BUYERS PREMIUM Property information obtained from Shelby County Public Records. TN#5682 3030 Poplar Ave 38111 All information deemed reliable but not warranted. “Real Estate Auctions - Real Time Results” RSVP to join us at www.leadershipacademy.org

*Memphis 101 is presented by The Leadership Academy through an exclusive license with archer>malmo. 28 September 21-27, 2012 www.thememphisnews.com

Kids Write The Law Talk Darndest Things Path Takes Buffington Transitioning now, from the past four weeks of courtroom pleadings and testimony, to actual letters. Received by me. From fifth and From Biomedical to Law sixth grade students who attended programs I presented in their schools or actual sessions at the courthouse. Bill Dries | The Memphis News “Dear Judge Fleming, Thank you for letting me and my friend come into your quarters and talk to you and learn about what you do, even if it wasn’t eth Buffington has been torneys work as zealous advocates much.” an associate at Evans Pe- for their clients. “I enjoyed you talk- Btree PC law firm for about “It really just depends on who ing to us about alcohol. I four months. you are dealing with,” Buffington didn’t know it affects your Her goal in a legal career that said. “There are some attorneys brain. That’s why I would begin in 2004 is to see and learn that you don’t ever have a cross never drink. It would prob- more about other practice areas word with. Everything is com- VIC FLEMING ably taste nasty anyway.” while her focus on family law, pletely professional. You grant I SWEAR “I would like to thank civil and commercial litigation each other professional courtesies. you for coming and show- and railroad law continues. And then there are others who I ing us how your court is handled. It gives you an ‘in “I really wanted to branch don’t know if it is in their nature or your face’ check on how life really is. I know now I out and learn other things. I they get that emotionally tied up will take great thought in driving because I don’t didn’t want to be stuck in just in their case that everything is a have a job and I don’t have money to throw away.” one area of law,” she said. “Rule little hostile.” “Thank you for coming to the sixth grade to No. 1 in this economy is that if Her civil casework has also talk to us. I learned that before you do something that area of law goes away, so involved lots of insurance defense, wrong, think it over.” does my job. I wanted to go to a medical malpractice defense and “Hi … I am 12 years old and I thought what bigger firm. Here I’ve got the op- some product liability defense. you said to us was great! I have had strawberry portunity with so many practice The medical malpractice daqueries [sic] and a sip of beer. My mom said I groups.” defense has called on some of her could have a sip of beer when I was 11. I didn’t like Buffington began her Buffington knowledge from Ole Miss. it. I guess I only like frozen drinks. So that’s good I pursuit of the law with a goal of “That’s really why I got into the guess. I don’t plan on ever geting [sic] drunk. In fact going to medical school. medical defense in the first place I don’t plan on ever drinking even one beer or any- She earned a Bachelor of Science go to law school.’ Didn’t really know was the medical aspect,” Buffington thing. I must attmet [sic] I will drink daqueries [sic] degree in biomedical engineering at what I wanted to do in the legal said. “Anytime you try a case you’ve and frozen drinks, but I have a lot of self-control.” the University of Mississippi in 2001. field. I just kind of went.” got to know the medicine just like “I really want to thank you for coming to our “It was basically just a biology Buffington earned her law de- the doctors do.” school to talk to us. It was much more enjoyable degree with extra math and a few gree in 2004. She has been at Evans The defense work has also been than I thought it would be. In fact, it was great! more sciences,” Buffington said. Petree since the end of May where a changed in recent years by tort Except for the dressing-up part. I really don’t mind “You could get a B.A. in biology or family law practice she has focused liability laws recently enacted in wearing nice clothes, it’s wearing dress shoes that a B.S. in biomedical engineering, on for the last two years continues Tennessee that she said has led to some slowing in the filing of claims bother me [sic].” which meant you had to take some as one of several areas she practices extra physics courses and some in. by plaintiffs. “I really enjoyed your presentation about drugs extra math courses.” “It’s definitely gotten a lot more And much of her work on rail- and But instead of graduate studies contentious,” she said of the family road law has been in state court, beer. My at medical school, which was the law cases. “Attorneys I think had although the law involved often I Swear Crossword favorite plan, Buffington went to the Univer- more of a professional courtesy and crosses state lines and deals with a part was Fleming’s weekly puzzle Page 35 sity of Memphis Cecil C. Humphreys were able to work together a little bit set of laws written expressly for the when you School of Law. better than they are now, it seems railroad industry. related “After four years of dealing with like. I don’t really know the reason “They have a whole set of law your presentation to basketball. I also enjoyed the formaldehyde in labs, I was just kind for that. But it seems to take a long just for railroads,” Buffington said. clips off TV shows.” of sick of it. I was going through the time to get results.” “Usually we were in state court all “I thought it was good of you to come to our interview process for medical school She isn’t the only attorney in the time instead of federal court, school even though I won’t drink and drive.” – took the MCAT and everything,” the Memphis legal community to which kind of presented a burden “I think your presentation was great and you she said. “And then I just decided make the observation. Continuing because most of the judges didn’t spoke well, too.” I don’t know that I want to spend Legal Education events and some really deal with that. They are learn- “I just want to say thank you for being available the next 12 to 15 years of my life in Memphis Bar Association initia- ing. … We had them in both, but to come to our school and giving us your number to school. So, I had always been inter- tives in recent years have focused on we’ve had more in state court than call you. You looked nice yourself.” ested in law and I just thought, ‘I’ll increasing the level of civility as at- federal court.” “Thank you so much for taking time out of your day to come to our school for one hour and ten minutes. P.S.S. – Don’t hope that I call your number because I don’t want to be in a problem where I will have to.” “I learned what Risk Analysis is. It is a pro- Pera’s Name Placed on FedExForum Lease cess of asking yourself questions to figure out if you should do something or not. Another thing I The Memphis City Council Tues- which does not change in its terms It was the council’s first introduc- learned was that you may think someone is very day, Sept. 18, approved adding the with the transfer. tion to the ownership group. Pera nice and would never harm you, but that some- name of the new owner of the Mem- Memphis Mayor A C Wharton Jr.’s was represented by David Carlock times can turn out to be wrong. That person may phis Grizzlies basketball franchise to administration brought the resolu- with Ed Dobbs representing the local turn out to be a cold-blooded serial killer and you the lease on FedExForum. tion to the council on short notice ownership group whose membership don’t know it. Well, thank you again for coming to The city and county own FedEx- arguing the approval was necessary is still in flux. our classroom.” Forum and the NBA franchise leases as a requirement for the NBA’s board Council member Janis Fullilove’s the forum from both local govern- of governors to approve Pera as the first comment to Carlock was to ask, Vic Fleming is a district court judge in Little ments. new team owner. “Why don’t the city council members Rock, Ark., where he also teaches at the William H. The council replaced Michael The Shelby County Commission get tickets?” Bowen School of Law. Contact him at vicfleming@ Heisley’s Hoops LP group with Rob- will also have to approve the owner- Carlock said there are legal pro- att.net. ert Pera’s RJP Group LLC. ship change. hibitions. RJP Group assumes all obliga- The start of NBA training camp is “We’ve got a box,” responded tions of Hoops under the lease, just weeks away. council member Joe Brown. www.thememphisnews.com September 21-27, 2012 29

Memphis STANDOUT Mathews Keeps Focus on Eyes in Many Roles

ERINN FIGG | Special to The Memphis News Haslam appointed Mathews to serve as “I’ve known him for 23 years, one of six members of the Tennessee Board and Dr. Mathews is probably one of Optometry, which aims to safeguard the of the most talented optometric ome say the eyes are the window to health, safety and welfare of Tennesseans physicians I’ve ever met,” said the soul, but Dr. Dennis Mathews by ensuring the qualifications of all prac- Dr. James Venable, vice president Swill tell you that they can also open ticing optometrists in the state. Created by of clinical programs for The Eye doors to a world of information about the the Tennessee General Assembly in 1925, Center at Southern College of entire body. It’s what keeps him fascinated the board interprets the laws, rules and Optometry. “Neuro-Optometry with his profession. regulations to determine the appropriate has always been his focus, and “Optometry is such an interesting standards of practice for the highest degree he’s probably one of the top combination of physiology, optics, biology, of professional conduct. It issues licenses five neuro-optometrists in the neurology – you’re seeing so much more to qualified candidates, investigates al- country in terms of expertise and than just an eye,” he said. “The eyes can leged violations of the Practice Act, and is reputation. Not only that, he’s tell us about systemic diseases, injuries, responsible for the discipline of licensees inspired decades of students, nutrition deficiencies and viral infections, who are found guilty of such violations. interns and resident physicians Mathews for instance. And then there’s the added In short, it’s a big responsibility, and to be the best they can be in the bonus of getting to work with so many dif- one that Mathews takes very seriously. field of optometry.” ing.’” Mathews said. ferent people.” “The board includes five optometrists Mathews says mentoring is one of the He also tells them to be diligent and Mathews is an associate professor and one layperson, but when we sit down most important aspects of his career. flexible in an industry that is constantly at Southern College of Optometry in at those quarterly meetings, we all have to “Teaching in an educational institu- changing.Mathews enjoys giving continu- Memphis, where he teaches glaucoma wear the hat of a protector of the citizens tion helps us stay current in our knowl- ing education lectures to graduate doctors, and neuro-eye disease. He also practices of Tennessee,” he said. “There are many edge base – and we’re working with young and although his resume and accomplish- consultative optometry as a partner with things we have to be concerned about: people who will be leading the profession ments are already extensive, he still has big the Memphis-based Vitreoretinal Founda- We’re employees of the state of Tennes- in the future. That’s rewarding,” he said. He plans for his future. tion (VRF) Eye Specialty Group. He was see. We’re representing other health care strives to teach his students never to lose “Obviously I want to keep doing the co-director of the Memphis Health Center professionals. And all board meetings are focus on the real reason they’re practicing. very best I can for my patients, I want to Eye Clinic and center director at Omni Eye open to the public. It’s a privilege and an “I tell them, ‘Always remember that you continue my work in academia, and I’d like Services of Memphis until 1993. honor to serve on this important board.” are an advocate for your patient, always be to write a book about neuro-eye disease Recently, he added a new title to his Mathews’ colleagues are eager to attest the best you can be, and always do the best before I retire,” he said. “And I see that list of accomplishments. In July, Gov. Bill to his dedication and expertise. for the patient you’re advising and treat- retirement as a long way off.”

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AutoZone Fourth Real Estate & Development Quarter Net Income Improves CCDC Passes Two 7.4 Percent Downtown Projects

Andy Meek | The Memphis News Sarah Baker | The Memphis News the Downtown Memphis Commission Morris also updated the board on office grant, once we heard about that, it Easy-Way Food Stores, which is closing emphis-based auto parts retailer really moved our focus Downtown. Don its Downtown grocery and original loca- AutoZone Inc. is in a rare club wo Downtown Memphis projects Drinkard at CBRE found us this great tion at 80 N. Main St. at the end of this Mamong publicly traded retail were propelled Wednesday, Sept. space in the Cotton Exchange Building.” month after nearly 80 years in business companies: It’s in a position to rack up T19, by the Center City Develop- The program was created in 2009 to there, citing declining sales. strong same-store sales and earnings per ment Corp. while the board was briefed increase the number of office tenants “We’ve been in discussions with share growth regardless of the economic on several of the area’s businesses that Downtown, matching up to 50 percent of them over 18 months, we knew that they cycle. are in flux. the cost of tenant alterations contingent were considering this decision,” Mor- That’s according to Raymond James CCDC, an entity of the Downtown upon a five-year lease. While Somerset’s ris said. “If you go to the Easy-Way store & Associates analyst Dan Wewer, and that Memphis Commission, voted to approve new Downtown space will only house right now, you look at the signage, you fact also was underscored Wednesday a $6,250 commercial office grant appli- six employees, the company will bring look at the product mix, it’s in some ways morning before the stock market’s opening cation for Somerset Apartment Manage- in executives from outside of the area for antiquated for the neighborhood and it’s bell. AutoZone has met or beaten analyst ment LLC to relocate to the 10th floor of training. not attracting a lot of the new population expectations for the last several quarters, the Cotton Exchange Building, 65 Union “They represent a young, growing that’s moved into Downtown. and the company did so again, reporting Ave. The estimated tenant improvements company, and a lot of young, growing “One of the options we talked to fiscal fourth-quarter profit growth of 7.4 are $17,239. companies want to be Downtown,” them about, which they’re still interested percent. The Memphis-based company, a said Paul Morris, president of the DMC. in pursuing, is as part of their rebrand- Profit for the quarter increased $22.3 property management affiliate of New “Nationally, this is a trend, where young, ing, a new location in Downtown that million, or 7.4 percent, over the same pe- York-based private investment firm growing companies want to be in might fit their new rebranding better … riod last year to $323.7 million. Wall Street Somerset Partners, is currently in White densely populated urban centers. We’ve maybe into the growing south end near was expecting earnings per share growth Station Tower in East Memphis at 5050 got to take advantage of that.” the existing farmers market.” to increase to $8.45, and AutoZone hit that Poplar Ave. Somerset Partners owns four Morris said Downtown needs a Meanwhile, the CCDC approved mark, racking up EPS growth of $8.46 in local properties that range in size from strong office market to complement the $53,200 development loan closing the quarter. 150 units to 450 units. “the strongest apartment market in the extension request from Neil Armstrong AutoZone said its revenue at stores Somerset Apartment Management history” of the area, as evidenced by the of 314 S. Main St. Project plans call for open at least a year increased 2.1 percent. plans to sign a five-year lease to oc- Chisca Hotel redevelopment that’s ex- existing 4,000-square-foot building to be The metric is an important one in the retail cupy 2,637 square feet in Henry Turley pected to close within the next 30 days. renovated into a commercial live-work world, because it separates the growth Co.’s historic tower by November. Brian He added that attracting budding building that will include retail space of effects of opening new stores from sales at Boone, Somerset Apartment Manage- companies like Somerset Downtown also the ground floor for Red Velvet, a cup- existing stores. ment chief financial officer, said the helps offset some of the “huge, mainstay cake and wine concept. “We are pleased to report our 24th con- company has been seeking more office companies” that are “not going to always “The rear façade is nearly complete, secutive quarter of double-digit earnings space for a year. be here” like Raymond James Financial and the entire façade has been ripped per share growth,” said Bill Rhodes, Au- “We’re kind of busting at the seams Inc. and Pinnacle Airlines Corp. Both out,” Armstrong said of the $388,710 toZone chairman, president and CEO. “For right now, we’ve got boxes in our foyer,” situations have resulted in significant project. “We plan on being done within the year, we reached many new milestones Boone said. “We looked at East (Mem- cutbacks to Downtown employees and the six-month timeframe, and hopefully which included opening our 5,000th store phis), some even in our building, but are concerning moving forward. sooner.” in Alaska. We also improved our return on invested capital, achieving 33 percent at year-end. While our same-store sales per- formance was below our expectations for the quarter, we are confident we are well Government positioned to again deliver strong results for our new fiscal year.” As Rhodes noted, sales came in light during the quarter, with the company’s Council Delays Anti-Discrimination Ordinance top-line growing 4.6 percent (below Wewer’s forecast of 5.4 percent) versus 8.6 percent a year ago. “Do-it-for-me,” also BILL DRIES | The Memphis News “Let me just break it down for you,” not a civil rights struggle at all. This is the referred to as DIFM, sales at AutoZone he told the council. “You pass this bread crumbs of a civil rights struggle.” increased 16 percent during the quarter, tonight … we’re going to get sued about As currently amended, the ordinance the first quarter of less than 20 percent hen the Memphis City Council it. There’s no doubt in my mind. This is does not apply to contractors or others sales growth at AutoZone in the past nine got to the real intent this not to be taken lightly. This requires a doing business with city government. quarters, according to Wewer. Wweek of the latest version of referendum of the people.” Council member Bill Boyd, the only “In our view, the deceleration seen in an anti-discrimination ordinance it has Morris agreed with Wade. But he also council member to voice opposition to DIFM growth could just be a victim of the been debating off and on for two years, said the conditions are a matter of policy the measure, said he was “disappointed” law of large numbers,” Wewer told clients it wasn’t just a decision about including that is the job of the city administration, Harris didn’t make the amendment in an analyst note Wednesday. “AutoZone's “sexual orientation” in the wording. not the council. earlier in the council’s consideration of growth within the channel remains the It was a question of whether the The ordinance going into the Tues- the matter. fastest in the industry. Further, we believe inclusion is a change to the city charter day, Sept. 18, council meeting prohibited “My spiritual beliefs, the words of my the company may be taking commer- that would require a citywide referen- discrimination in city government hir- creator, your creator, your redeemer … is cial share from Advance Auto Parts and dum instead of a council vote. ing, promotions and demotions based what I base my final decision on,” Boyd O'Reilly Automotive through sharper pric- The legal wrinkle prompted a 30-day on “non-merit” factors that were listed said, adding that he believed current city ing of its private label assortment.” delay in a council vote on third and final as “race, sex, creed, political affiliation, provisions were adequate protection Revenue also rose during the quarter, reading of the ordinance to await formal national origin, ethnicity, age, disability.” against discrimination. though it didn’t meet analyst expectations. legal opinions from city attorney Her- Council member Lee Harris, the Opponents and proponents of the Revenue rose 4.6 percent to $2.76 billion man Morris and council attorney Allan sponsor of the measure, introduced measure filled the council chambers from $2.64 billion, while analysts expected Wade. the amendment Tuesday adding sexual with each group of citizens being given $2.8 billion. Council member Wanda Halbert orientation to the list. 15 minutes to make their case. raised the important question that “This is not a time for Memphis to The Rev. Steve Gaines, pastor at The Associated Press contributed to this prompted a preliminary but blunt opin- move forward. This is a time for Mem- , led the faction report. ion from Wade. phis to catch up,” Harris said. “This is opposing the ordinance. www.thememphisnews.com September 21-27, 2012 31

Newsmakers Three Tips For Evans Joins AEL as Vice President Improving

Kate Simone | The Memphis News Your Sales Team

Successfully managing a sales team takes a special touch, because great salespeople are wired differently than most. Dr. Jess Evans has joined American Esoteric Laboratories as vice presi- Their defining qualities – fearlessness and dent of technical operations. In his new role, Evans is responsible for dogged determination – are what make them instrumentation, personnel, operational performance and quality assur- both stellar at closing business and, at times, ance for the Memphis laboratory. a handful to manage. In addition to being high-energy, posi- Hometown: Farmington, Utah What attracted you to AEL? Their tive team players, the highest-performing business structure that places direct salespeople often have strong personalities. Education and work experience: responsibility on the local manage- They can be impulsive and unrealistic in Doctorate in biochemistry from ment to care for the patient and client. their expectations on occasion. Many have Brigham Young University, and a post- an attention to detail doctoral fellowship at the Mayo Clinic. What are your goals in your new that characteristically A total of 21 years of experience in the position? Create a place where satis- doesn’t align with clinical laboratory at Valley Children’s fied employees enjoy the challenge of their more process- Hospital in central California and caring for patients. oriented managers. Quest Diagnostics in Las Vegas. Evans Good sales reps focus What do you consider your great- on solving problems Family: Wife, Becky Sue; Jacob and est accomplishment? Helping to Robbie Linsy has joined and generating Monica, Anne, Seth, Jarom and Julia. raise five amazing children. results, which is ulti- American Esoteric Laboratories Lori turner- as reimbursement manager. mately what you want wilson Favorite quote: “You don’t know What do you most enjoy about Linsy is responsible for billing, as a manager, but it guerrilla sales what you don’t know.” your work? The challenge of solving collections, insurance claims can be an opposing and marketing problems and the joy of learning new and reimbursement compli- skill set to crossing What talent do you wish you had? things. ance. Jeremy Vance has joined every “t” and dotting every “i.” To be able to quickly organize and AEL as staff accountant. Vance Fortunately, there is a middle ground – a communicate my thoughts in writing. If you could give one piece of ad- performs financial analysis, three-part strategy you can adopt as sales vice to young people, what would assists in the month-end close manager that will inspire vs. confine your Who has had the greatest influence it be? Pick a goal and go for it even if process and manages ledger sales team toward greater results. on you? My parents and wife, Becky you are not sure where you want to reconciliations. Coach versus preach. When a member of Sue. end up. your team has a skill gap, position yourself as Frederick S. Norman has coach versus telling them what to do. Pres- been named CEO and chair- ent the facts of the situation and ask for their man of the board of The Alpha input on how they’d suggest addressing it. You Corp. of Tennessee. Norman want them to own the solution versus having previously served as president it put upon them. There’s perhaps no more and chief operating officer of effective way to persuade a salesperson to AOC LLC. utilize a different approach than by showing them. Go on a few calls with your sales rep to The Blues Foundation has demonstrate how your strategy works, and named Jay Sieleman president you’ll likely gain the buy-in you need. and CEO. Sieleman is the long- Put away the rulebook. The more compli- time executive director of the ance-driven your culture, the more your sales foundation. team will resist. Granted, you need sales activ- ity tracking, but beyond that, avoid complex Vicki Lynn Jerideau has sales processes that tie the hands of your been appointed director of Ur- sales team. Find a balance between organiza- ban Strategies Memphis HOPE. tion and over-management. Jerideau has served as the non- Celebrate successes. While it’s true that profit’s interim director since good “hunters” are often financially motivat- early 2011 and has more than 20 ed, for many, money isn’t the only big driver. A WKNO PRODUCTION years’ experience in social and Recognition from management, especially human services. in front of peers, goes a long way. Beyond hosted by ERIC BARNES, publisher of The Daily News verbal recognition at sales meetings, consider Dr. Melloni Cook, Univ. of Each week Barnes will lead a discussion about the major stories from the Mid-South. small gift cards to their favorite dinner spots Memphis associate professor of (demonstrating that you listen and know their This week, on Behind the Headlines, Memphis Police Director Toney Armstrong talks about psychology, has been awarded preferences), an invitation to meet with a the challenges he’s faced while being in of ce for a little more than a year-and-a-half. the W. Russell Smith Award, the member of the senior management team, a College of Arts and Sciences’ Please note that the ‘KNO Tonite schedule is changing this week. Behind the Headlines can be seen Friday off with pay, or a special high-potential Fridays at 7:00 p.m. on WKNO. It will continue to air Sundays at 8:30 a.m., also on WKNO, and Fridays highest teaching honor. at 7:30 p.m. on WKNO2. lead hand-picked just for them. You might even consider shifting their least-liked task to Dr. Do Nguyen has joined PANELISTS: another member of the team with a stronger The Eyewear Gallery as optom- , Host & Publisher of affinity for that kind of work. ERIC BARNES The Memphis Daily News etrist. Nguyen received his doc- - Anchor/reporter for Action News 5 In the end, the secret to success is as sim- KONTJI ANTHONY torate from Southern College of AMOS MAKI - City Hall reporter for ple as recognizing that no two sales people The Commercial Appeal Optometry. LES SMITH - Senior Reporter for FOX-13 News are alike and understanding what motivates TONEY ARMSTRONG - Memphis Police Director The Catholic Diocese of each individual member of your team. Topics are subject to change. The broadcast of Behind the Headlines is sponsored by The Community Foundation. Memphis in Tennessee has Lori Turner-Wilson is an award-winning awarded Angel of the Catho- columnist and managing partner of RedRover Friday at 7:00pm WKNO lic Schools awards to Mon- Sales & Marketing, www.redrovercompany. signor Peter P. Duchignani, Friday at 7:30pm WKNO2 com. You can follow RedRover on Twitter Dr. Thomas Hamilton, Ron (@redrovercompany and @loriturner) and Sunday at 8:30am WKNO Childers and Sisters of Charity Facebook (facebook.com/redrovercompany). Monday at 5:00pm WKNO2 of Nazareth. The awards honor outstanding volunteers. 32 September 21-27, 2012 www.thememphisnews.com

Analysts: Law & the Courts Speculation Mounting For Memory Honored FedEx Changes Yellow Cab donates to CrimeStoppers in memory of slain cabbie

Bill Dries | The Memphis News Andy Meek | The Memphis News

he annual FedEx Corp. meeting with investors next month will be T watched closely for what happens to FedEx Express, the oldest division of the Memphis-based company. That is when FedEx executives, includ- ing company founder Fred Smith, said they plan to announce in rich detail how they will answer the shift of customers away from air freight – the method of mov- ing goods that FedEx pioneered 41 years ago. Whatever the fix is, it comes near the end of a year that began with FedEx execu- tives expressing a stubborn optimism about the way back from recession. The optimism was based on what FedEx was hearing from its customers. And when the recession lingered, FedEx’s view became that it was a “soft patch.” “Systemically, the policy choices that have been made in Europe, the U.S. and China are having an effect on world trade,” Smith said Tuesday, Sept. 18. “In the last several months, it’s been disappointing. I Photo: Lance Murphey think it’s reflective of the slow growth in the A Yellow Cab drives south on Main Street. Yellow Cab drivers and employees recently raised money to help get . You’ve got contraction going criminals off the street after cab driver Kevin Grills was recently murdered on the job. on in Europe. Because of North America and Europe, China’s export economy – which has been driven by the consumer evin Grills’ co-workers and fel- It turns out there was. “We matched money raised by our economies – is reflected in lower trade low Yellow Cab taxi drivers were “Ham got called that night when he drivers and our employees,” Smythe numbers. Until some of these macro issues Kshaken last month when they discovered what happened,” Crawford said. “We wanted to honor CrimeStop- get resolved, you’ll see relatively low trade learned Grills, 50, was shot in the back said. “Ham went to Kevin’s house to pers for all the good work the organiza- numbers.” several times and killed while in his cab tell his family. And of course the whole tion does in our community to help Jeff Kauffman, an analyst for Sterne near Downtown Memphis. company was feeling so sorry for them.” solve crimes.” Agee, was among those on the call who One employee described them all Grills’ coworkers soon began rais- The group helps police capture thought FedEx wasn’t tipping much of its as dumbfounded when it happened, ing money. It didn’t take long for $500 criminals by offering cash rewards with hand on the Express “reconfiguration” and then shell-shocked in the days to be collected. When Smythe saw the the promise of anonymity to anyone before the Oct. 9-10 investors meetings in afterwards. Yellow Cab president Ham amount, he decided to match it. with information that helps crimes get Memphis. The Sterne Agee note the next Smythe IV got the call late at night on After that, Smythe called E. Winslow solved. It was founded in 1981, and over day to investors said the change that was the evening of the tragedy, and he went “Buddy” Chapman, the executive direc- three decades it has helped solve on announced to the FedEx network cost to Grills’ home to carry the awful news tor of CrimeStoppers of Memphis and average nearly two felony crimes – per structure is “almost a decade overdue.” and to be with family members. Shelby County. An in-cab video report- day. “Not calling this a restructuring is like A man identified as Grills’ brother edly showed the crime, which helped The CrimeStoppers tipline, 528- calling a party a small get-together. But told one TV news crew that Grills was investigators catch a suspect, but a tip CASH, is monitored 24 hours a day, perhaps it is much more,” the Sterne Agee trying to make the best of a bad econ- also was called in to CrimeStoppers, a seven days a week. note continued, referring to Smith’s spe- omy, when opportunities for construc- group with a simple mission. “I can promise that the funds raised cific objection to the term “restructuring” tion work grew scarce, by working late So in many ways, the donation of by Mr. Grills’ fellow workers and the to describe what is ahead for Express. nights as a cabbie. $1,000 by Yellow Cab and its drivers and taxi company will be used to help chase Sterne Agee expects a “complete net- The whole company was grieving employees to CrimeStoppers in Grills’ down criminals in our community and work redesign” that decreases the empha- after the tragedy, said director of sales memory was an easy decision. get them off the street,” Chapman said. sis on aircraft with a greater use of trucks and marketing Deborah Crawford. But Crawford said it was born out of the Grills is survived by his wife Yolanda, in the domestic market and forwarding that quickly turned into a question: “Is fact the company thinks CrimeStoppers stepdaughter Fernada Corral, as well as in international networks. Forwarding there something we can do?” “does such good work in Memphis.” four brothers and two sisters. is a service that organizes shipments for customers and is more of a supply chain manager for companies that don’t have that function in-house. Kevin Sterling of BB&T Capital Mar- kets was on the conference call and asked US Housing Starts Rose 2.3 Percent in August Smith if the shift from air to water for freight in recent years is a larger shift with U.S. builders started work on more from last month’s initial estimate. The rate of home construction has broader implications. homes in August, driven by the fast- Single-family housing starts rose risen nearly 60 percent since hitting a Smith said the shift is more than a est pace of single-family home con- 5.5 percent to an annual rate of 535,000 recession low of 478,000 in April 2009. function of the economy and customers struction in more than two years. The homes, the best pace since April 2010. It’s still half the pace considered healthy. moving to less expensive options when the increase points to steady progress in the Apartment construction, which can be But the steady gains suggest the hous- time for delivery is variable. housing recovery. volatile from month to month, fell 4.9 ing recovery could endure. “Over the last 10 years, the container The Commerce Department said percent. “Housing is clearly in a recovery liner services have now gotten a lot bet- Wednesday that construction of homes Applications for building permits, mode,” said Jim O’Sullivan, chief U.S. ter,” Smith said, noting daily service. He and apartments rose 2.3 percent to a good sign of future construction, fell economist at High Frequency Econom- said the improvement and move to water a seasonally adjusted annual rate of to an annual rate of 803,000. Still, that’s ics. He said home construction should will become more pronounced with the 750,000 last month. That’s up from down from a four-year high of 811,000 add about 0.3 percentage point to over- Panama Canal expansion in 2014. 733,000 in July, which was revised lower in July, which was revised higher. all economic growth this year. www.thememphisnews.com September 21-27, 2012 33

Nonprofit Sector Solomon Shares ‘Pictures of Hope’ With Children

Aisling Maki | The Memphis News Hope,” which included a pho- “The whole goal of this Self-sufficiency is the ultimate Jose, Calif., and Orlando, Fla. tography lesson, followed by a program is to encourage these goal of the FIT program. In each city, Solomon teams walking excursion through the children to keep expressing what “Agape means love, and they up with a local nonprofit. This ationally recognized neighborhood to capture photos truly matters in life.” definitely have shown me love,” was her second trip to Memphis; photojournalist and representing their goals for the The children who par- said Agape FIT client Monica she previously visited with local Nauthor Linda Solomon future. ticipated in Tuesday’s event are Valentine, mother of a son and children through the Salvation traveled to Memphis Tuesday, “The most important thing is clients of nonprofit Agape’s FIT daughter who participated in Army Memphis. Sept. 18, to share her lifelong to grow their self-esteem, to show (Families in Transition) Program, Tuesday’s program. “I was honored to be selected passion for photography and to the children that their hopes and which serves homeless moth- Partnering with Chevro- to the board of the Tennessee encourage children from under- dreams matter and that they ers and their children in Shelby let, Solomon has brought her Arts Academy, and I just think privileged backgrounds to follow are respected,” said Solomon, County, providing things such “Pictures of Hope” program – Memphis is a wonderful city,” their own hopes and dreams. who last year was inducted into as safe stable housing, counsel- featured in many media outlets, Solomon said. The children – ages 6 through the Michigan Journalism Hall of ing and classes that include GED including “Oprah,” – to at-risk “The people here give back to 12 – gathered at the offices of Fame and currently serves on preparation life skills, job skills, children living in shelters in cities their communities. … I’m hon- Agape Child & Family Services the board of the Tennessee Arts computer literacy and financial that include San Antonio, Albu- ored to be able to do the program at 111 Racine St. for “Pictures of Academy. literacy. querque, N.M., Tucson, Ariz., San here.”

Return continued from P18 “In addition to being the main spon- Conservancy and the Greater Memphis checks internally. sor for its Sportin’ Fore Kids Weekend Greenline, which connect all these projects Specifically, bank customers have got- In January, Regions began partnering in August, we have volunteered in every by turning unused railway right-of ways ten tired of trying to deposit checks before with the Shelby County Trustee’s office capacity from working the radiothon and and easements into a recreational park/ 2 PM in order to receive credit that day. on Project H.O.M.E. Financial literacy setting up holiday decorations to cooking hiking-biking trail system,” Aviotti said. Marks said First Tennessee may soon have workshops are held each month, and rep- for resident families and manning the an- new systems in place to provide credit for resentatives from Regions and the Trustee’s nual Big Scoop event. Some other organi- payments much faster. office are available at each workshop to zations we support financially are St. Jude, “We’re doing a lot to provide a simpli- discuss personal finance management and Neighborhood Christian Centers, Humane fied digital payment experience for our Marks continued from P19 tax payment arrangements. Society of Memphis & Shelby County and customers,” Marks said. Meanwhile, several of Magna Bank’s Arts Memphis.” ers become engaged with more of our mortgage officers founded the Youth Vil- The Bank of America Charitable Foun- channels, our highest retention rate are lages 5K, and they’re still deeply involved dation recently announced it’s awarding the customers who use mobile banking,” with the effort today. The bank is one of $35,000 in grants to Memphis nonprofits Marks said. the sponsors and fundraisers of the event, that provide services including build- “We place a lot of emphasis on meet- Summit continued from P23 and it also raises money for Youth Villages’ ing and rehabbing of affordable housing, ing customers where they want to be. Holiday Heroes during Christmas. homeowner counseling, and foreclosure There is some advantage for us. It costs a Summit handles tax planning, in- In October, Magna’s Oak Court branch prevention programs. The funds are part of little less if customers don’t come into a surance evaluations and charitable gift will be the sponsor and location of the $22 million in housing-related grants that branch, but really it’s about tailoring our planning, as well as business acquisition annual Ronald McDonald House Pop-Tab will impact low- and moderate-income customer experience.” or dissolution analysis, family partnerships Palooza. communities in 34 states. First Tennessee launched the ability to and trusts, and tax-efficient transfer and There are plenty of other examples. SunTrust Banks Inc. had 230 local deposit checks through mobile phones a protection of wealth for future generations. Since its beginning, Paragon National employees log more than 1000 volunteer little over a year ago, and Marks said that “In the past 10 years, information tech- Bank has provided 40 hours of time each hours in 2011. And the bank is on pace to too is here to say. nology has radically changed, the way in- year for all employees to participate with a double that this year. The bank’s website, meanwhile, is vestments are analyzed and the ways mar- non-profit during regular business hours. SunTrust also provides scholarship emphasizing a connection to live human kets trade have changed, and the prolifera- Sixty-eight percent of the bank’s employees money to the University of Memphis, beings. Customers who open an account tion of investment options have changed,” participated in 19 nonprofit organizations Rhodes College, Lemoyne Owen College online will see the picture, name and con- Laughlin said. “With this vast amount of during 2011. and Southwest Community College annu- tact information of the First Tennessee information and all of these options, it’s Likewise, Independent Bank is an- ally in addition to supporting more than 40 employee who handled the account. harder than ever to assess what informa- other generous patron and supporter of local charities and nonprofits. Customers can also rate products on tion is valid, how to interpret that infor- community-focused efforts including the Bank of Bartlett’s leadership group has the site, and good or bad, the feedback is mation, and then choose from an array of National Civil Rights Museum, The Leader- served yearly on academic boards and do- welcomed, Marks said. options that has grown exponentially. We ship Academy, the Church Health Center, nated to a variety of local higher education “I’d rather err on the side of being bring our expertise and experience to bear the Alliance for Nonprofit Excellence and institutions, among other causes. open to feedback knowing that you’re not and put ourselves in our clients’ shoes, so many more. The First Tennessee Foundation was going to please everybody, than pretend each client gets treated uniquely.” Wells Fargo managers and team mem- established in 1993 to support nonprofit that everything is hunky-dorey,” Marks Thompson stressed that Summit sells bers have chosen 13 nonprofits across the organizations in the communities First said. no products and is not compensated by Memphis area for grants as part of the an- Tennessee Bank serves. The usefulness of social networking sales commissions or trade loads. In- nual Days of Giving program, in the third And since its inception, the founda- sites to banks is also somewhat murky stead, Summit charges a fee based on the year of a program in which team members tion has donated more than $27 million to though most banks now have them. It’s amount of assets under management. honor groups helping their local commu- meet community needs in Memphis. not clear how they could in future be used “We do not sell insurance or prepare nities “We are the second largest supporter to provide services for customers. tax returns or draft wills, but we have back- Phillip May, Memphis president for of United Way in the Mid-South,” said “The part that is challenging for our grounds in those areas. We are essentially Metropolitan Bank, said that from the Penny Aviotti, the foundation’s manager. industry is that there are a lot of regula- a coordinator for our clients,” he said. “We beginning, his bank’s philosophy toward “We haven’t kicked our campaign off this tions designed to protect consumers work with and maintain great relation- philanthropy has been to focus donations year yet, but statewide, last year employees around advertising and products and ser- ships with most of the CPAs and law firms on what its associates, board members and pledged more than $1.6 million … . We vices,” Marks said. “So with using social around town. They are fabulous resources, clients are involved in. also donate to local hospitals and support networking, we’re taking a more mea- and we learn a lot from them every time “Being a fairly young bank, we’re still St. Jude Children’s Research Hospital, Bap- sured pace to think how do you comply we get into a new situation.” building, and will continue to build, the tist Memorial Healthcare and Methodist Le with those laws. It’s hard to imagine that Summit’s fee-based structure also financial commitment we are able to offer Bonheur Healthcare.” in five years social networking is not a helps to avoid potential conflicts of inter- the community,” May said. “As our rev- In the arts, one of the foundation’s sig- mainstream form of communication. It’s est that sometimes arise under other pay- enues continue to grow, so will our dona- nature investments is ArtsFirst, a program going to affect how we do business.” ment structures. tions to local nonprofit organizations. The to promote excellence and enrichment in Banks as a whole are also still ponder- “Our incentive is aligned with our organization we currently offer the most the arts in Memphis. ing the future of smartphones as mobile clients – to grow the balances of their ac- support to is the Ronald McDonald House, “For the environment and great out- wallets through which payments in stores counts and to protect their capital from who actually named us the Volunteer doors living, we support Shelby Farms Park can be made, but Marks said the next big being eroded by adverse market events,” Group of the Year last year. Conservancy, Overton Park, Wolf River innovation may be how banks process Laughlin said. 34 September 21-27, 2012 www.thememphisnews.com

happenings

South Front Street. Visit www. Memphis Rotary Club will meet Tuesday, Sept. day, Sept. 26, from noon to 1 p.m. at The memphisfarmersmarket.org 25, at noon at the University Club of Memphis, , 149 Union Ave. Cost is $25 for Ovarian Cancer Awareness for more information. 1346 Central Ave. Courtney Upshaw Travis, CEO nonmembers. Foundation will hold its fifth annual of Memphis Business Group on Health, will Duncan-Williams Inc. will present “Transparency in Health Care Charges.” Methodist North Hospital will hold a free awareness event Saturday, Sept. 22, at 8 a.m. host the second annual Cost is $18. R.S.V.P. to Taylor Hughes at taylor@ diabetes class Tuesday, Sept. 26, from 5 p.m. to »at Shelby Farms Park, 500 N. Pine Lake Drive. Dragon Boat Races benefiting memphisrotary.org. 7 p.m. at the hospital’s Total Joint Center, 3960 the Tennessee Clean Water New Covington Pike. Call 516-5038 to register. It will include a 5K race, 1-mile walk and silent Network Saturday, Sept. 22, Methodist North Hospital will hold a free auction. Visit ocafoundation.org. at 8:30 a.m. at Mud Island diabetes class Tuesday, Sept. 25, from 5 p.m. to will hold Farmers’ River Park, 125 N. Front St. 7 p.m. at the hospital’s Total Joint Center, 3960 Market at the Garden Wednesday, Sept. 26, Visit memphis.racedragon- New Covington Pike. R.S.V.P. to 516-5038. from 2 p.m. to 6 p.m. at 750 Cherry Road. Visit boats.com. memphisbotanicgarden.com. Vatterott College in Appling Farms will hold an » Community Country Ford will host a fundraiser for SRVS open house and information session Tuesday, The Memphis Young Professionals Network Healthy Memphis Common Table and The Saturday, Sept. 22, from 10 a.m. to 4 p.m. at the Sept. 25, from 5 p.m. to 7 p.m. at 6991 Appling of the Memphis Area Association of Realtors Assissi Foundation will host Bridges Into dealership, 95 E. Goodman Road in Southaven. Farms Parkway. Visit vatterott.edu. will hold a speed networking event Thursday, Health Workshop: Strategies to Reduce Inequi- The event will include a silent auction, raffle and Sept. 27, from 6 p.m. to 8 p.m. at Corky’s, 1740 ties and Improve Health Outcomes Friday, Sept. the sale of crafts made by SRVS Learning Cen- Saint Francis Hospital-Memphis will hold N. Germantown Parkway. Email ypnmemphis@ ter participants. Contact Karen Dunn at karen. the free Play Hard … Live Well prostate-cancer 21, from 9 a.m. to 3 p.m. in the Saint Francis gmail.com. Hospital Longinotti Auditorium, 5959 Park Ave. [email protected] or 312-6853. screening event Tuesday, Sept. 25, from 6 p.m. Registration begins at 8:30 a.m. Cost is $50. to 8 p.m. at the hospital, 5959 Park Ave. The Downtown Memphis Commission will hold its Visit healthymemphis.org or email connie. Crohn’s & Colitis Foundation of America will event, is part of the American Urological Asso- Vision Awards presentation and an open house [email protected]. hold its Take Steps Memphis fundraiser Sunday, ciation Foundation’s Know Your Stats campaign, Thursday, Sept. 27, from 4 p.m. to 7 p.m. at its Sept. 23, at 2:30 p.m. at Mud Island River Park, will also include food, a motivational speaker offices, 114 N. Main St. R.S.V.P. to rsvp@down- PARK(ing) Day Memphis 2012 will be held 125 N. Front St. Registration begins at 1:30 p.m. and a demo of the da Vinci surgical robot. Visit townmemphis.com by Friday, Sept. 21. Friday, Sept. 21, from 11 a.m. to 6 p.m. on Pea- For registration and fundraising minimums, visit knowyourstats.org. body Place between Front and Second streets. ccfa.org or call Janelle Benuska at 615-356- Artists, community groups and others will trans- 0444. Memphis Area Transit Authority and Mid- The University of Memphis’ Marcus W. Orr form metered parking spaces into public parks. South Food Bank are holding the second an- Center for the Humanities will host a free Visit downtownmemphis.com. Memphis Jewish Home & Rehab will hold its nual “Stuff a MATA Bus” food drive Wednesday, lecture titled “Partisanship and the Presidency” 85th anniversary celebration featuring Henry Sept. 26, from 8 a.m. to 5 p.m. at Poplar Plaza Thursday, Sept. 27, at 6 p.m. in the university Page Robbins Adult Day Care Center will host Winkler Sunday, Sept. 23, at 7 p.m. at Baron Shopping Center at the corner of Poplar Avenue center theater on the U of M campus. University a concert by Joyce Cobb in celebration of Adult Hirsch Synagogue, 400 S. Yates Road. Tickets and Highland Street. Call 527-0841 or 722-7136 of Minnesota professor Karlyn Campbell will Day Services Week Friday, Sept. 21, at 2 p.m. at are $125; VIP tickets including a pre-event meet for a list of the most-needed items. discuss the historical growth of executive power Page Robbins, 1961 S. Houston Levee Road. Visit and greet are $250. Contact Joel Ashner at through military engagements. Visit memphis. pagerobbins.org or call 854-1200. [email protected] or 756-3273. Talk Shoppe and the Small Business edu/moch or call 678-2520. Chamber will hold a citywide networking party The 25th Institute on the Profession of Law, The Tennessee Beta Unit of Parliamentar- Wednesday, Sept. 26, from 9 a.m. to 10 a.m. at Madison Hotel will continue its 2012 Sunset Vol. II will be held Friday, Sept. 21, from 3 p.m. to ians will meet Monday, Sept. 24, at 5:45 p.m. the Better Business Bureau, 3693 Tyndale Ave. Atop the Madison series Thursday, Sept. 27, 5 p.m. in the McCallum Ballroom at Rhodes Col- at the Poplar-White Station Branch Library, Cost is free. Visit talkshoppe.biz. from 7 p.m. to 11 p.m. at the hotel, 79 Madison lege, 2000 N. Parkway. The topic is “Facebook, 5094 Poplar Ave. Contact Jennifer Thompson at Ave. Cost is $7. For details, call 333-1200. Twitter and LinkedIn: The Opportunities and 324-5184. BIG for Memphis will host Memphis Mayor A Pitfalls of Social Media.” Visit alumni.rhodes. C Wharton Jr. Wednesday, Sept. 26, from 10:15 edu/socialmedia to register. Schmieding Home Caregiver Training will a.m. to 11:30 a.m. at Phelps Security, 4932 » the arts hold a caregiver workshop Tuesday, Sept. 25, Park Ave. BIG brings together Memphis Police St. Jude Ride, a 24-hour relay cycling event to from 8 a.m. to 4 p.m. at Germantown United Department colonels and business leaders to Rhodes College will host rock music historian benefit St. Jude Children’s Research Hospital, Methodist Church, 2331 S. Germantown Road. curb crime and impact the community. Cost is Barry Drake for “’60s Rock: When the Music will be held from Friday, Sept. 21, at 6 p.m. to R.S.V.P. to [email protected] or free. R.S.V.P. to [email protected] Mattered” Saturday, Sept. 22, at 7:30 p.m. in Saturday, Sept. 22, at 6 p.m. Visit stjude.org for 755-1244. or 365-9728. the McCallum Ballroom on campus, 2000 N. details on registration and fundraising mini- Parkway. Cost is free. Contact Melissa Butler at mums. The Prosperity Series Memphis will host “The Methodist North Hospital will hold a free hip- [email protected] or 843-3885. Kindness Revolution” author Ed Horrell Tuesday, and knee-replacement class Wednesday, Sept. Christian Brothers University Alumni As- Sept. 25, from 8:30 a.m. to 10:50 a.m. at Mem- 26, from 11 a.m. to noon at the hospital’s Total Rhodes College will screen Aki Kaurismaki’s sociation will host the fall trivia night fundraiser phis Botanic Garden, 750 Cherry Road. Cost is Joint Center, 3960 New Covington Pike. Call “Le Havre” as part of the Tournees French Film Friday, Sept. 21, at 7:30 p.m. in the Alfonso din- free for Prosperity Series members and $149 516-5639 to register. Festival Sunday, Sept. 23, at 4 p.m. in Buckman ing hall on the CBU campus, 650 East Parkway for nonmembers. R.S.V.P. to huey@uslearning. Hall in the college’s Blount Auditorium. Visit S. Proceeds benefit the CBU national alumni com or 767-0000. Rotary Club of Memphis East will meet rhodes.edu or call 843-3587. association scholarship. Buy tickets at cbu.edu/ Wednesday, Sept. 26, at noon at the Racquet trivia or contact Karen Viotti at [email protected] The Church Health Center/MIFA Farmers Club of Memphis, 5111 Sanderlin Drive. Chris The Rudi E. Scheidt School of Music will host or 321-3254. Market will be open Tuesday, Sept. 25, from 10 Wallace of the Memphis Grizzlies will speak. a concert by the University of Memphis Jazz a.m. to 2 p.m. at Church Health Center Wellness, Cost is $17. R.S.V.P. to Lee Hughes at lm- Combos Tuesday, Sept. 25, at 7:30 p.m. in the The Memphis Farmers Market will be open 1115 Union Ave. For details, visit churchhealth- [email protected]. University of Memphis Harris Concert Hall, 3775 Saturday, Sept. 22, from 7 a.m. to 1 p.m. at Cen- center.org or call Esther Wills at 250-4673, ext. Central Ave. Cost is free. Visit memphis.edu/ tral Station Pavilion, 545 G.E. Patterson Ave. at 1604. Kiwanis Club of Memphis will meet Wednes- music for details.

The Market: Residential See your listing in The Residential Market. Contact Patricia McKinney at 901-528-5271, [email protected]

Advertise Your LAND FOR SALE or LEASE PERFECT FOR HUNTING HUNTING GETAWAY Listing Here for only 700 acres of timber land located Highway 196, Gallaway, TN On Hwy 247 15 minutes west of Tuscumbia, Alabama $299,000 $30 per Week Roads, creeks and springs going through the land Barbara Fletcher 20 –year-old pine and some oak 108 ACRES IN FAYETTE COUNTY Cell: (901) 848-8256 12 green plots For more information, contact Approx. 927sf rd front/ Hwy 196, for bldg. [email protected] Turkey and deer Lots of Wildlife, for hunting. Standing 2868 Summer Oaks Patricia McKinney at 901-528-5271 or $1,900 per acre negotiable timber can be harvested. West side Bartlett, TN 38134 For more information call borders RR. East side borders Loosahatchie [email protected] River, NW corner (1acre) used for wetlands. 256-383-1837 or 256-383-5565 Call agent for directions and to see the property. www.thememphisnews.com September 21-27, 2012 35

Week of 9/10/12 - 9/16/12 crosswords The Weekly

Crossword Edited by Margie E. Burke

The Weekly Crossword by Margie E. Burke ACROSS 1234567 8 9 10 11 12

1 John who 13 14 15 played Babe Ruth 16 17

8 Leather leggings 18 19 20 21 13 Geneva Con- vention violation 22 23 24 25

14 Triumphant cry 26 27 28 16 Veteran 17 Altogether 29 30 31 32

18 ___ v. Wade 33 34 35 36 37 19 Impassioned 21 Suffix for octo- 38 39 40 22 Political pamphlet 41 42 43 44 45 46 47 24 Fountain drink 25 Cruise ship stop 48 49 50 26 Dante's inferno 51 52 53 54 27 "Family ____" (game show) 55 56 57 58 28 Twangy- 59 60 sounding 29 "Psych" network 61 62 31 Split up 33 Like some Copyright 2012 by The Puzzle Syndicate waistbands 37 Southwestern 3 Start of the 34 High schooler's 46 _____ totter snake fourth qtr. infraction 47 Take the wheel 38 Spanish scarf 4 Catch my ____? 35 Come before 49 Supply party 40 Island garland 5 Silent performer 36 Unarmed, to a food 41 Express audibly 6 Fine arbitrarily cop 50 Beauty parlor 42 Bad to the bone 7 Uneasy 39 Lindbergh, e.g. 52 Pigeon's place 44 Cultural interests 8 2008 Olympics 43 Bananas, so to 53 Mah-jongg piece 48 Lecherous look host speak 56 Furry foot 49 Slayer of Abel 9 Track down 45 Second shot 58 ___ milk? 50 Frozen 10 Museum piece downpour 11 2009 Sandra Answer to Last Week's Crossword 51 Not to mention Bullock film, with 52 Rummy relative "The" STAB SNUB CDROM 54 Golf peg 12 Drench EURO HARE LEAVE 55 Pekoe vessel 13 Mary of comic A N EW RUNG OUTER 57 Pregame party strips MEASLES OBSCENE site 15 Stable worker T I DE TRUE 59 Grand grounds 20 Church leader RARE ATTAR SPA 60 Spectator 23 Bunch FAR I NA RECEPTOR 61 Ed Norton's 25 Incomplete OMEN SW I NE ROUT workplace 27 Go under WI NGSPAN SK I NNY 62 Go back in 28 WeekNBA great of 9/10/12LEA - 9/16/12T I RED I CED Thurmond KURD ISLE DOWN 30 Word before REENTER CENTRAL 1 Aplenty crazy or fry ECLAT OPED AONE 2 Trying 32 Coffin cover SHAVE BERG G L OW experience 33 Take after TONER EASE SEND

Sudoku Edited by Margie E. Burke  Edited by Margie E. Burke Difficulty : Medium 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 36 September 21-27, 2012 www.thememphisnews.com 36 September 21-27, 2012 www.thememphisnews.com

public notices

survey of the premises might disclose. place and stead of the aforementioned OSI Funding, LLC NOW, THEREFORE, notice is hereby Foreclosure Notices In addition, the following parties may Trustee. Notice of the Right to Foreclose C/O Alan Kleiman given that the entire indebtedness has Madison County claim an interest in the above-referenced was sent to the Borrower by letter dated P.O. Box 17235 been declared due and payable; and property: Karen F. Earl; Wendell Earl June 11, 2012. Memphis, TN 38187 that an agent of Wilson & Associates, The sale held pursuant to this Notice NOW, THEREFORE, said Successor Listing of Other Interested Parties: P.L.L.C., as Successor Trustee, by virtue may be rescinded at the Successor Trustee, or agent thereof, pursuant N/A of the power, duty, and authority vested NOTICE OF TRUSTEE’S SALE Trustee’s option at any time. The right to said Deed of Trust, having been re- This sale is subject to liens; easements; in and imposed upon said Successor WHEREAS, default has occurred is reserved to adjourn the day of the quested by the Holder so to do, and by encumbrances; property taxes; rights of Trustee will, on October 11, 2012 on in the performance of the covenants, sale to another day, time, and place virtue of the authority and power vested redemption of taxing entities; all mat- or about 11:00 A.M., at the Madison terms, and conditions of a Deed of Trust certain without further publication, upon in said Successor Trustee by said Deed ters shown on any recorded plan(s) or County Courthouse, Jackson, Tennes‑ Note dated August 17, 2001, and the announcement at the time and place of Trust, will on October 02, 2012 at plat(s); any unpaid taxes; any restrictive see, offer for sale certain property here- Deed of Trust of even date securing the for the sale set forth above. W&A No. 1:00 p.m., at the usual and customary covenants, easements or setback lines inafter described to the highest bidder same, recorded August 22, 2001, at 845‑204081/845‑43015 location at the Madison County, Tennes- that may be applicable; any statutory FOR CASH, free from the statutory right Book T1316, Page 268 in Office of the DATED September 5, 2012 see, Courthouse, sell at public outcry rights of redemption of any governmental of redemption, homestead, dower, and Register of Deeds for Madison County, WILSON & ASSOCIATES, P.L.L.C., to the highest bidder for cash (or credit agency, state or federal; any prior liens all other exemptions which are expressly Tennessee, executed by Karen F. Earl Successor Trustee upon the indebtedness secured if the or encumbrances as well as any priority waived in the Deed of Trust, said property and Wendell Earl, conveying certain FOR SALE INFORMATION, VISIT WWW. lawful owner and holder thereof is the created by a fixture filing; any matter that being real estate situated in Madison property therein described to NLC, MYFIR.COM and WWW.REALTYTRAC. successful purchaser), the following- an accurate survey of the premises might County, Tennessee, and being more Inc. as Trustee for First NLC Financial COM described property: disclose; and other matters which are particularly described as follows: Services, LLC; and the undersigned, Sept. 7, 14, 21, 2012 Fhn11317 BEGINNING AT A POINT IN THE WEST prior in right to the lien of the aforesaid Tract One: Beginning at an iron pin in Wilson & Associates, P.L.L.C., having MARGIN OF NORTH ROYAL STREET, Deed of Trust. the West margin of the Lester Chapel been appointed Successor Trustee. NOTICE OF FORECLOSURE SALE WHICH POINT IS THE SOUTHEAST COR- If a high bidder fails to close a sale, Road, said point being the Northeast NOW, THEREFORE, notice is hereby MADISON COUNTY, STATE OF TEN- NER OF THIS LOT AND THE NORTHEAST the Successor Trustee shall have the corner of Reynolds’ lot; runs thence given that the entire indebtedness has NESSEE CORNER OF LOT #4 OF AFORESAID option of making the sale to the next North 69 degrees West a distance of been declared due and payable; and THIS IS AN ATTEMPT TO COLLECT A SUBDIVISION; THENCE, FROM THE highest bidder. The sale held pursuant 231 feet to an iron pin in W.H. Roberts that an agent of Wilson & Associates, DEBT. ANY INFORMATION OBTAINED POINT OF BEGINNING AND WITH THE to this Notice may be rescinded at East boundary line; runs thence North P.L.L.C., as Successor Trustee, by virtue WILL BE USED FOR THAT PURPOSE. NORTH LINE OF SAID LOT #4, NORTH the Successor Trustee’s option at any 22 degrees and 30 minutes East a of the power, duty, and authority vested Default has been made in the terms, 86 DEGREES 00 MINUTES 00 SECONDS time. The right is reserved to adjourn distance of 127 feet to an iron pin in and imposed upon said Successor conditions and payments provided for WEST 200.00 FEET TO THE SOUTHWEST the sale to another day, time and/or in Exum’s Southwest corner; runs Trustee will, on October 4, 2012 on in that certain Deed of Trust dated CORNER OF THE HEREIN DESCRIBED place certain without further publication, thence with Exum’s South line South or about 11:00 A.M., at the Madison September 26, 2003, of record in Deed LOT; THENCE, NORTH 100.00 FEET TO upon announcement at the time and 69 degrees East a distance of 231 County Courthouse, Jackson, Tennes‑ Book/Page Number T1527 (Re-recorded THE SOUTHWEST CORNER OF LOT #2 place for the sale set forth above, or at feet to an iron pin, said point being see, offer for sale certain property here- T1533)/256 (Re-recorded 853), Reg- OF AFORESAID SUBDIVISION; THENCE, any date and time fixed by a preceding 32 feet from the center of Lesters inafter described to the highest bidder ister’s Office for Madison County, Ten- WITH THE SOUTH LINE OF SAID LOT postponement. Alternatively, at its op- Chapel Road; runs thence South FOR CASH, free from the statutory right nessee, from Reba Mae Hardy A/K/A #2, SOUTH 86 DEGREES 00 MINUTES tion, Successor Trustee may give a new 22 degrees and 30 minutes West a of redemption, homestead, dower, and Reba Mae Groce and John William Hardy 00 SECOND EAST 200.00 FEET TO notice of sale. distance of 127 feet to the point of all other exemptions which are expressly (Borrower) to LARRY A. WEISSMAN THE WEST MARGIN OF NORTH ROYAL Weissman Nowack Curry & Wilco, PC beginning. waived in the Deed of Trust, said property (Trustee) for the benefit of MORTGAGE STREET; THENCE, WITH THE WEST MAR- One Alliance Center, 4th Floor ALSO KNOWN AS: 523 Lester Chapel being real estate situated in Madison ELECTRONIC REGISTRATION SYSTEMS, GIN OF NORTH ROYAL STREET, SOUTH 3500 Lenox Road Road, Jackson, Tennessee 38301 County, Tennessee, and being more INC., AS NOMINEE FOR EQUIFIRST COR- 100.00 FEET TO THE POINT OF BEGIN- Atlanta, GA 30326 The HB 3588 letter was mailed to particularly described as follows: PORATION (Lender), securing the Note/ NING, AND BEING LOT #3 OF VIRGIL (866) 960-8298 the borrower(s) pursuant to Tennessee Being Lot No. Seven, Section 1, indebtedness therein described, the GARDNER SUBDIVISION NO. 1 A PLAT File #: 012947 Code Annotated 35-5-117. This sale is Hickory Hills Subdivision, a plat of entire Note/indebtedness having been OF WHICH APPEARS OF RECORD IN PLAT Sept. 8, 15, 22, 2012 Fhn11316 subject to all matters shown on any ap- which appears of record in Plat Book declared in default and immediately due BOOK 2, PAGE 67, REGISTER’S OFFICE, plicable recorded plat; any unpaid taxes; 3, Page 311, in the Register’s Office and payable by the lawful owner and MADISON COUNTY, TENNESSEE. NOTICE OF TRUSTEE’S SALE any restrictive covenants, easements, or of Madison County, Tennessee. holder thereof. For informational purposes only, this WHEREAS, default has occurred in the setback lines that may be applicable; any ALSO KNOWN AS: 64 Hickory Hill DEUTSCHE BANK NATIONAL TRUST property is commonly known as 1515 performance of the covenants, terms, statutory rights of redemption of any gov- Drive, Jackson, Tennessee 38305 COMPANY, AS TRUSTEE UNDER POOL- North Royal Street, Jackson, TN 38301, and conditions of a Deed of Trust Note ernmental agency, state or federal; any The HB 3588 letter was mailed to ING AND SERVICING AGREEMENT DATED Parcel ID 065J C 04400 000. dated August 24, 2005, and the Deed prior liens or encumbrances as well as the borrower(s) pursuant to Tennessee AS OF FEBRUARY 15, 2004 EQUIFIRST The property shall be free from all right of Trust of even date securing the same, any priority created by a fixture filing; and Code Annotated 35-5-117. This sale is MORTGAGE LOAN TRUST 2004-1 ASSET- and equity of redemption, statutory or recorded September 6, 2005, at Book to any matter that an accurate survey of subject to all matters shown on any ap- BACKED CERTIFICATES, SERIES 2004-1 otherwise, homestead, dower, courtesy, T1700, Page 983 in Office of the Register the premises might disclose. In addition, plicable recorded plat; any unpaid taxes; (Holder), now being the present owner/ elective share, and all other exemptions of Deeds for Madison County, Tennes- the following parties may claim an inter- any restrictive covenants, easements, or holder of said indebtedness, has now that are expressly waived in said Deed of see, executed by Elizabeth Reynolds and est in the above-referenced property: setback lines that may be applicable; requested that foreclosure proceed- Trust, and the title is believed to be good, A. Z. Price, conveying certain property Elizabeth Reynolds; A.Z. Price any statutory rights of redemption of any ings be instituted, and said Holder but the Successor Trustee will sell and therein described to Wesley D. Turner The sale held pursuant to this Notice governmental agency, state or federal; has appointed the firm listed below as convey only as Successor Trustee, “as as Trustee for Ameriquest Mortgage may be rescinded at the Successor any prior liens or encumbrances as well Successor Trustee under said Deed of is” and “where is” and without covenants Company; and the undersigned, Wilson Trustee’s option at any time. The right as any priority created by a fixture -fil Trust, by an instrument duly recorded in of seizing or warranties of title. & Associates, P.L.L.C., having been ap- is reserved to adjourn the day of the ing; and to any matter that an accurate the aforesaid records, to serve in the Listing of Subordinate Lienholders: pointed Successor Trustee. sale to another day, time, and place www.thememphisnews.com September 21-27, 2012 37 www.thememphisnews.com September 21-27, 2012 37

public notices certain without further publication, upon Title as Trustee for Mortgage Electronic waived in the Deed of Trust, said property TENNESSEE; RUNS THENCE WITH THE Related Info announcement at the time and place Registration Systems, Inc., a seperate being real estate situated in Madison WEST LINE OF LOT NO. 13, NORTH 00 for the sale set forth above. W&A No. corporation acting solely as nominee County, Tennessee, and being more DEGREES 20 MINUTES EAST A DIS- 700‑172028 for Midwest Mortgage Capital, LLC and particularly described as follows: TANCE OF 179.7 FEET TO AN IRON PIN, Also read our daily edition, The Daily DATED September 6, 2012 Midwest Mortgage Capital, LLC succes- Being Lot Number 29, Section V, SAID POINT BEING THE NORTHWEST News, in print or online every business WILSON & ASSOCIATES, P.L.L.C., sors and assigns; and the undersigned, Springbrook Subdivision, a plat of CORNER OF LOT NO. 13; RUNS THENCE day for public notices for Memphis & Successor Trustee Wilson & Associates, P.L.L.C., having which appears of record in Plat Book SOUTH 89 DEGREES 20 MINUTES WEST Shelby County. FOR SALE INFORMATION, VISIT WWW. been appointed Successor Trustee. 3, Page 269, in the Register’s Office A DISTANCE OF 85 FEET TO AN IRON Go to www.memphisdailynews.com or MYFIR.COM and WWW.REALTYTRAC. NOW, THEREFORE, notice is hereby of Madison County, Tennessee. PIN AT THE NORTHEAST CORNER OF LOT call 683.NEWS for more information. COM given that the entire indebtedness has ALSO KNOWN AS: 77 Springview NO. 11 IN SAID SUBDIVISION; RUNS Sept. 14, 21, 28, 2012 Fhn11318 been declared due and payable; and Drive, Jackson, Tennessee 38305 THENCE WITH THE EAST LINE OF LOT NO. that an agent of Wilson & Associates, The HB 3588 letter was mailed to 11, SOUTH 00 DEGREES 20 MINUTES NOTICE OF TRUSTEE’S SALE P.L.L.C., as Successor Trustee, by virtue the borrower(s) pursuant to Tennessee WEST A DISTANCE OF 180 FEET TO AN WHEREAS, default has occurred in the of the power, duty, and authority vested Code Annotated 35-5-117. This sale is IRON PIN IN THE NORTH MARGIN OF performance of the covenants, terms, in and imposed upon said Successor subject to all matters shown on any ap- RUSHMEADE DRIVE, SAID POINT ALSO This sale is subject to liens; easements; and conditions of a Deed of Trust Note Trustee will, on October 18, 2012 on plicable recorded plat; any unpaid taxes; BEING THE SOUTHEAST CORNER OF encumbrances; property taxes; rights of dated November 14, 2001, and the Deed or about 11:00 A.M., at the Madison any restrictive covenants, easements, or LOT NO. 11; RUNS THENCE WITH THE redemption of taxing entities; all mat- of Trust of even date securing the same, County Courthouse, Jackson, Tennes‑ setback lines that may be applicable; NORTH MARGIN OF RUSHMEADE DRIVE, ters shown on any recorded plan(s) or recorded November 28, 2001, at Book see, offer for sale certain property here- any statutory rights of redemption of any NORTH 89 DEGREES 04 MINUTES plat(s); any unpaid taxes; any restrictive T1340, Page 3 in Office of the Register of inafter described to the highest bidder governmental agency, state or federal; EAST A DISTANCE OF 85 FEET TO THE covenants, easements or setback lines Deeds for Madison County, Tennessee, FOR CASH, free from the statutory right any prior liens or encumbrances as well POINT OF BEGINNING. BEING LOT NO. that may be applicable; any statutory executed by Sharon D. Wilson, Kenny of redemption, homestead, dower, and as any priority created by a fixture -fil 12, SECTION I OF LANDMARK ESTATES rights of redemption of any governmental Wilson and Sharon D. Wilson, conveying all other exemptions which are expressly ing; and to any matter that an accurate SUBDIVISION, PLATTED AS AFORESAID agency, state or federal; any prior liens certain property therein described to waived in the Deed of Trust, said property survey of the premises might disclose. AND AS SURVEYED BY THOMAS L. DEAN or encumbrances as well as any priority Arnold M. Weiss as Trustee for Mortgage being real estate situated in Madison In addition, the following parties may ASSOC. ON MAY 7, 1986. created by a fixture filing; any matter that Electronic Registration Systems, Inc., County, Tennessee, and being more claim an interest in the above-referenced BEING THE SAME REAL PROPERTY an accurate survey of the premises might as a separate corporation that is acting particularly described as follows: property: Rodney Wenzlick CONVEYED TO LEE BISHOP AND WIFE, disclose; and other matters which are solely as a nominee for Full Spectrum The following described lot or parcel The sale held pursuant to this Notice WENDY BISHOP BY DEED APPEARING prior in right to the lien of the aforesaid Lending, Inc. and Full Spectrum Lend- of real estate lying and being in the may be rescinded at the Successor OF RECORD IN DEED BOOK 641, PAGE Deed of Trust. ing, Inc.’s successors and assigns; and 5th Civil District of Madison County, Trustee’s option at any time. The right 390 IN THE REGISTER’S OFFICE OF If a high bidder fails to close a sale, the undersigned, Wilson & Associates, Tennessee, and more particularly is reserved to adjourn the day of the MADISON COUNTY, TENNESSEE. the Successor Trustee shall have the P.L.L.C., having been appointed Suc- described as follows: sale to another day, time, and place For informational purposes only, this option of making the sale to the next cessor Trustee. Being Lot 12 in Section I of Notting‑ certain without further publication, upon property is commonly known as 903 highest bidder. The sale held pursuant NOW, THEREFORE, notice is hereby ham Meadows Subdivision, a Plat announcement at the time and place Rushmeade Road, Jackson, TN 38305, to this Notice may be rescinded at given that the entire indebtedness has of which appears of record in Plat for the sale set forth above. W&A No. Parcel ID 0551 A 012.00 the Successor Trustee’s option at any been declared due and payable; and Book 3, Page 315, in the Register’s 700‑218713 The property shall be free from all right time. The right is reserved to adjourn that an agent of Wilson & Associates, Office of Madison County, Tennessee, DATED September 19, 2012 and equity of redemption, statutory or the sale to another day, time and/or P.L.L.C., as Successor Trustee, by virtue reference to which plat is hereby WILSON & ASSOCIATES, P.L.L.C., otherwise, homestead, dower, courtesy, place certain without further publication, of the power, duty, and authority vested made for a more particular descrip‑ Successor Trustee elective share, and all other exemptions upon announcement at the time and in and imposed upon said Successor tion of said Lot showing its location FOR SALE INFORMATION, VISIT WWW. that are expressly waived in said Deed of place for the sale set forth above, or at Trustee will, on October 11, 2012 on and the length and direction of its MYFIR.COM and WWW.REALTYTRAC. Trust, and the title is believed to be good, any date and time fixed by a preceding or about 11:00 A.M., at the Madison boundary lines. COM but the Successor Trustee will sell and postponement. Alternatively, at its op- County Courthouse, Jackson, Tennes‑ ALSO KNOWN AS: 70 Stratford Lane, Sept. 21, 28, Oct. 5, 2012 Fhn15508 convey only as Successor Trustee, “as tion, Successor Trustee may give a new see, offer for sale certain property here- Jackson, Tennessee 38305 is” and “where is” and without covenants notice of sale. inafter described to the highest bidder The HB 3588 letter was mailed to NOTICE OF FORECLOSURE SALE of seizing or warranties of title. Weissman Nowack Curry & Wilco, PC FOR CASH, free from the statutory right the borrower(s) pursuant to Tennessee MADISON COUNTY, STATE OF TEN- Listing of Subordinate Lienholders: One Alliance Center, 4th Floor of redemption, homestead, dower, and Code Annotated 35-5-117. This sale is NESSEE 1. Merit Management, LLC 3500 Lenox Road all other exemptions which are expressly subject to all matters shown on any ap- THIS IS AN ATTEMPT TO COLLECT A 2. Carriage Hill Office Park Atlanta, GA 30326 waived in the Deed of Trust, said property plicable recorded plat; any unpaid taxes; DEBT. ANY INFORMATION OBTAINED 3. The Bank of Jackson (866) 960-8298 being real estate situated in Madison any restrictive covenants, easements, or WILL BE USED FOR THAT PURPOSE. Listing of Other Interested Parties: File #: 012980 County, Tennessee, and being more setback lines that may be applicable; any Default has been made in the terms, N/A Sept. 22, 29, Oct. 6, 2012 Fhn11320 particularly described as follows: statutory rights of redemption of any gov- conditions and payments provided for All that certain parcel of land situate ernmental agency, state or federal; any in that certain Deed of Trust dated in the Third Civil District, Madison prior liens or encumbrances as well as February 04, 2005, of record in Deed County, Tennessee, being known any priority created by a fixture filing; and Book/Page Number T1646 / 416, In- and designated as metes and bounds to any matter that an accurate survey of strument 05002422, Register’s Office property, as set forth in Deed Book the premises might disclose. In addition, for Madison County, Tennessee, from • Sales Comparables 557, Page 95, recorded October 12, the following parties may claim an inter- Wendy Bishop and Lee Bishop (Bor- 1995, Madison County Records. est in the above-referenced property: rower) to WESLEY D. TURNER (Trustee) ALSO KNOWN AS: 75 Pennington Ivory Clark; James Clark; James Terrell for the benefit of ARGENT MORTGAGE Place, Jackson, Tennessee 38305 Clark; Ivory Randelle Clark COMPANY, LLC (Lender), securing the The HB 3588 letter was mailed to The sale held pursuant to this Notice Note/indebtedness therein described, • Thousands of Photos the borrower(s) pursuant to Tennessee may be rescinded at the Successor the entire Note/indebtedness having Code Annotated 35-5-117. This sale is Trustee’s option at any time. The right been declared in default and immediately subject to all matters shown on any ap- is reserved to adjourn the day of the due and payable by the lawful owner and plicable recorded plat; any unpaid taxes; sale to another day, time, and place holder thereof. any restrictive covenants, easements, or certain without further publication, upon WELLS FARGO BANK, N.A., AS TRUSTEE setback lines that may be applicable; announcement at the time and place FOR THE POOLING AND SERVICING • Commercial Property Profiles any statutory rights of redemption of any for the sale set forth above. W&A No. AGREEMENT DATED AS OF APRIL 1, governmental agency, state or federal; 817‑218046 2005 ASSET-BACKED PASS-THROUGH any prior liens or encumbrances as well DATED September 12, 2012 CERTIFICATES SERIES 2005-WHQ2 as any priority created by a fixture filing; WILSON & ASSOCIATES, P.L.L.C., (Holder), now being the present owner/ and to any matter that an accurate survey Successor Trustee holder of said indebtedness, has now of the premises might disclose. In addi- FOR SALE INFORMATION, VISIT WWW. requested that foreclosure proceed- • Complete Sales History tion, the following parties may claim an MYFIR.COM and WWW.REALTYTRAC. ings be instituted, and said Holder interest in the above-referenced prop- COM has appointed the firm listed below as erty: Sharon D. Wilson; Kenny Wilson; Sept. 21, 28, Oct. 5, 2012 Fhn15501 Successor Trustee under said Deed of Sharon D. Wilson Trust, by an instrument duly recorded in The sale held pursuant to this Notice NOTICE OF TRUSTEE’S SALE the aforesaid records, to serve in the • Sales & Construction Activity Reports may be rescinded at the Successor WHEREAS, default has occurred in the place and stead of the aforementioned Trustee’s option at any time. The right performance of the covenants, terms, Trustee. Notice of the Right to Foreclose is reserved to adjourn the day of the and conditions of a Deed of Trust Note was sent to the Borrower by letter dated sale to another day, time, and place dated February 27, 2009, and the Deed June 11, 2012. certain without further publication, upon of Trust of even date securing the same, NOW, THEREFORE, said Successor announcement at the time and place recorded March 3, 2009, at Book T1852, Trustee, or agent thereof, pursuant • And much more! for the sale set forth above. W&A No. Page 1139 in Office of the Register of to said Deed of Trust, having been re- 726‑203044/726‑51371 Deeds for Madison County, Tennessee, quested by the Holder so to do, and by DATED September 10, 2012 executed by Rodney Wenzlick, conveying virtue of the authority and power vested WILSON & ASSOCIATES, P.L.L.C., certain property therein described to in said Successor Trustee by said Deed Successor Trustee Kathy Winstead as Trustee for JPMorgan of Trust, will on October 16, 2012 at FOR SALE INFORMATION, VISIT WWW. Chase Bank, N.A.; and the undersigned, 1:00 p.m., at the usual and customary MYFIR.COM and WWW.REALTYTRAC. Wilson & Associates, P.L.L.C., having location at the Madison County, Tennes- COM been appointed Successor Trustee. see, Courthouse, sell at public outcry Sept. 14, 21, 28, 2012 Fhn11319 NOW, THEREFORE, notice is hereby to the highest bidder for cash (or credit given that the entire indebtedness has upon the indebtedness secured if the NOTICE OF TRUSTEE’S SALE been declared due and payable; and lawful owner and holder thereof is the WHEREAS, default has occurred that an agent of Wilson & Associates, successful purchaser), the following- in the performance of the covenants, P.L.L.C., as Successor Trustee, by virtue described property: terms, and conditions of a Deed of Trust of the power, duty, and authority vested BEGINNING AT AN IRON PIN IN THE The standard for Mid-South real estate information since 1968 Note dated January 23, 2009, and the in and imposed upon said Successor NORTH MARGIN OF RUSHMEADE DRIVE, Deed of Trust of even date securing the Trustee will, on October 18, 2012 on SAID POINT BEING 30 FEET AT RIGHT same, recorded February 4, 2009, at or about 11:00 A.M., at the Madison ANGLES FROM THE CENTERLINE OF Book 1850, Page 1297 in Office of the County Courthouse, Jackson, Tennes‑ SAID DRIVE, AND AT THE SOUTHWEST Register of Deeds for Madison County, see, offer for sale certain property here- CORNER OF LOT NO. 13, SECTION I OF Tennessee, executed by Ivory Clark inafter described to the highest bidder LANDMARK ESTATES SUBDIVISION, A Call 458-6419 or go to James Clark James Terrell Clark and FOR CASH, free from the statutory right PLAT OF WHICH APPEARS OF RECORD www.chandlerreports.com Ivory Randelle Clark, conveying certain of redemption, homestead, dower, and IN PLAT BOOK 2, PAGE 224, IN THE REG- property therein described to Northwest all other exemptions which are expressly ISTER’S OFFICE OF MADISON COUNTY, 38 September 21-27, 2012 www.thememphisnews.com

opinion

Neighborhoods, Festivals Why Memphis Rocks Form Fabric of the City Last week we kicked off this series of giving in Memphis is unmatched and of reader-response columns by asking, the social responsibility is changing the “Why do you think Memphis Rocks?” So landscape of what will be our great history. hen something through at a time. And some of the far, we have received some heartwarming There is a buzz in the air that is building up good develops older kids gather in clusters to take stories, catchy slogans, and fascinating to a big boom and it’s an exciting time to organically in in the rest of the city coming to their perspectives that all capture the essence be here!” Memphis, there neighborhoods. And to make sure no- of what makes our community so great. Steven Ardel: “Here are five reasons is a great ten- body is blocking their driveway. Let us go ahead and start sharing your why Memphis Rocks and stats to back it dency to believe The message of the festivals is that responses while I encourage up – 1) Memphis has one of the thatW if there are attempts to organize it this isn’t a competition. The places we you, our readers, to keep the quickest commutes to work too much or try to “improve” it, some- call home and community are not all feedback coming, so we can in the nation, 2) Memphis was thing essential will be lost. the same. And that is the real source share even more next week. named one of the most fun So, for several years now we’ve of our wealth. It grows from a few Pam Weakley: “It’s all cities in the nation by Portfolio. whispered quietly among ourselves struggling homeowners who patronize about the B’s – BBQ, Beale, com, 3) CNBC.com ranked about the coming in late summer of struggling businesses they can walk Blues, Bridge, and Basket- Memphis #2 in the nation this what is a festival season. We might to – to a first festival perhaps with more ball!” year for being a least-expensive also grumble a bit about how far the folding tables than festival goers and Jerome Robinson: “Mem- Jeremy Park city to live in, 4) we have world Cooper-Young Festival and others have some rain just to test their endurance phis Rocks because on any giving back recognized arts, culture, and come from their humble origins. And and before you can say Pink Palace given day the great people heritage, like the Brooks Mu- maybe you are among those who miss Crafts Fair, you’ve got another festival of Memphis are hard at work doing and seum of Art, Dixon Gallery and Gardens, Clanjamfry and the opportunity to growing. giving for others! This really is an amazing Elvis Presley’s , Ballet Memphis, wear a kilt. Or you have suspicions the More importantly, another commu- town.” National Civil Rights Museum, Rock ‘n’ Soul wiener dog races at the Germantown nity has reclaimed a part of the story Jason Brooks: “I love the festivals, like Museum, and Orpheum Theatre, and 5) Festival are drawing some ringers. that is where we live. And it is there for , the RiverArtsFest, Greek we enjoy world-class sports in accessible By the time the rain arrived at anyone to come see and appreciate Fest, Italian Fest, Africa in April, Crawfish environments, like with our Tennis Champi- the Cooper-Young Festival Saturday and experience. You might even pick Fest and the Indie Memphis Film Festival. onships each February, the FedEx St. Jude afternoon, you had to park and walk up a few ideas for your part of town. Classic at TPC Southwind in June, the Au- through the neighborhoods off-the- It doesn’t mean the days of struggle Really cool with the diversity, music, food main thoroughfares. And in that walk are gone forever or that all crime will and thousands of people coming out to toZone Liberty Bowl, Memphis Redbirds, was the reason behind the season disappear forever. The festivals are an enjoy. Oh, I can’t forget things like South Tiger Basketball, and Memphis Grizzlies, we might want to keep to ourselves affirmation that we won’t be that easily Main Trolley Tour and the Peabody Rooftop which were just named Sport Team of the but probably can’t keep others from discouraged. Parties. So much fun to be had in this city!” Year for the Beyond Sport Awards 2012. It’s discovering. One of these days more of us might Joe Fracchia: “My top 5 reasons Mem- a proven fact that Memphis Rocks!” It is the homes and neighborhoods learn to better appreciate all of these phis Rocks – 1) entrepreneurial spirit, 2) Dan Marks: “The greenline/Shelby where late summer flowers hang over parts taken as a whole. It doesn’t take a friendly, welcoming people, 3) our sports (Farms) Park. It truly is phenomenal how the sidewalk, a small bike with training referendum and nobody has to hire an and music heritage, 4) The , much this city invests in public green wheels and metallic tassels from the attorney and go to court. 5) all our locally owned restaurants.” spaces.” handlebars waits on a front porch, the But for now let’s just keep this Allison Carson: “I think Memphis Rocks Jeremy Park, director of the Lipscomb sound of a piano floats from a window among the hundred thousand or so because of the green grass, blue skies, Pitts Breakfast Club, can be reached at for about a minute as you pass by. spread across the county who look and the soul in the air. More importantly, I [email protected] and followed on Cars line both sides of a street really forward to this time of year … and their love the way the community rallies around Twitter (@lpbreakfastclub) and Facebook only wide enough for one car to get friends and the friends of their friends. a cause when there is a need. The spirit (facebook.com/lpbreakfastclub).

Directions Here Come With Story on the Side

A STORY IN EVERY BITE. in my headlights, almost the driveway holding a big pan of savory, was the As I listened, I remembered comedi- to the original Coletta’s, home to the man I’d seen cooking something out- an David Brenner discussing directions original barbecue pizza. I ordered side when I pulled in. “Can’t have mine,” in the South. He noted that directions one to go, and asked for a beer while Moose said. The restaurant couldn’t come with a story, and they may in- I waited. They directed me to the bar. have it either. It was the bar’s and not clude turn left at the three-legged dog, The bar? I’d been coming to Coletta’s for sale. Over the course of two beers – MEMPHASIS and that everything comes with grits. dan conaway since Caesar came to Gaul and I’d never remember, two-for-one – I learned that The teller this time was friend Hal – noticed a bar, but there it was down the one night every week (I’m not telling world traveler, retired pilot, former Tiger “look for the guy on the shoulder of hall, a walk past the bathrooms right which one or they’ll come after me) a lineman and current gourmand. The Highway 7 around Abbeville, got him into somewhere around 1963. In an different bar regular cooked for the rest. subject was my recent column on rec- an oil drum grill and a plastic sign that instant, you knew that all the people in I hope they still do. ommended things to chew on around says ‘Ribs.’ Lord, Lord. Here I am, driving there knew each other, knew exactly Might be ribs or chicken, catfish or here, but not really. That was just the to Oxford with a pile of pig and alumi- what was right and wrong with the chicken livers. Or it might be barbe- skillet grease to get the stories fired up. num foil in my lap, throwing bones out world – and didn’t know you. They were cued, blackened and blissful baloney – “When you’re about 10 minutes out the window and laughing out loud. I all sizes and colors, both sexes, and the stuff of good stories. of Walnut,” Hal said, assuming every- swear that was better than the five-star aged somewhere between early middle I’m a Memphian, and the number body not only knows where Walnut is, New York restaurant I was in the night age and early Jurassic. for Express Shop #17 is 662-223-6399. but also when they’re ten minutes out, before.” “Draft’s two-for-one,” the bartender “just give the Express Shop #17 a call As any good reviewer will tell you, said. “That’s Harry’s seat,” somebody Dan Conaway is a lifelong Mem- and they’ll throw some chicken livers it’s not just food; it’s presentation and else said. “Shut up, Moose,” the bar- phian, longtime adman and aspiring on the grill.” He then paused, simply ambience. tender said, “Harry’s not here.” “How local character in a city known for them. nodded twice, and you knew that was A while back, headed home and about some baloney?” yet another Reach him at dan@wakesomebodyup. as good as it gets. “And,” he rebooted, hungry, I saw the South Parkway exit voice questioned. I turned and there, com. www.thememphisnews.com September 21-27, 2012 39 CONTRACT PENDING

$499,900

CONTRACT PENDING SOLD

SOLD

2556 HOUSTON LEVEE RD, $1,995,000 6176 DOVECOTE LN, $2,195,000