June 2-8, Vol. 5, Issue 23 10 Logistics Gas prices are lower than »expected, but trucking companies remain wary about long-term projections of their biggest expense.

FedEx on buying spree: FRIENDLY SKIES, UNFRIENDLY FACEBOOK GROUPS: Memphis-based company to purchase Critics of Delta Air Lines Inc.’s rising airfares and diminishing service Brazilian shipper, its fifth acquisition at Memphis International Airport have taken to social media en masse since February 2011. » Page 8 to air their grievances. » Page 7

SPECIAL EDITION : THE BUSINESS OF HEALTH CARE

MEDICAL Hospitals scooping up REALIGNMENT private practices at rapid clip as health care reform looms Pages 14-23

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31 Innovation Silicone Arts Laboratories’ dermaflage is a “topical perfecting filler” that consumers can buy and then apply onto things like scars and wrinkles.

DAILY DIGEST: page 2 Education: page 11 small business: page 12 newsmakers: page 29 Editorial: page 34

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Wells Fargo, City of Memphis each under guidelines of a Wells Fargo home Conditioning. While serving in the U.S. Ma- 12th-largest women’s professional organi- ownership program. rine Corps, he participated in the recovery zation in the United States. The Memphis Settle Mortgage Lawsuit The program is similar to the Neigh- of Astronauts Walter M, Schirra Jr. and L. chapter was chartered in 1948. Wells Fargo & Co. has agreed to settle borhoodLIFT program Wells Fargo has Gordon Cooper after their space flight. a federal discrimination lawsuit the Mem- collaborated with the nonprofit Neighbor- Moore Tech was founded in 1910 and phis and Shelby County governments filed Works America program on in nine other opened in 1939. It is the only private, non- against the bank by setting a five-year U.S. cities. profit vocational college in Memphis and is Council Member Fullilove mortgage lending goal of $425 million here, Also included in terms of the settlement located at 1200 Poplar Ave. Current enroll- Files Bankruptcy including $125 million in home purchase is another $3 million for local grants with ment is 200. lending to low- and moderate-income bor- the spending controlled by the city and Memphis City Council member Janis rowers. county. Fullilove has filed bankruptcy. The city and county governments filed The Wednesday, May 30, filing in federal suit in Memphis Federal Court in December WCR Memphis Chapter bankruptcy court lists $22,218 in liabilities 2009 against Wells Fargo Bank, Wells Fargo Receives National Award Fullilove owes in “taxes and certain other Financial Tennessee Inc. and Wells Fargo Moore Tech Promotes debts owed to governmental units.” Financial Tennessee 1 LLC, alleging the Director to First President The Memphis chapter of the Women’s The liability is an unsecured priority company discriminated against its African- Council of Realtors was recently recognized claim. American mortgage holders with refinanc- Don Smith, director and chief adminis- as the National Large Chapter of the Year for The filing also listed $52,360 in secured ing that put the homes of those mortgage trative officer of Moore Tech for the past 13 2012 at the National Association of Realtors claims held by creditors and another $29,760 holders at risk. years, has been named by the college board mid-year convention in Washington. in unsecured nonpriority claims. Former Wells Fargo workers from Mem- of trustees to be the first president of the The Memphis Chapter earned points Fullilove claims a current monthly phis were among those alleging the com- vocational college in its 92-year history. and reached benchmarks established by the income of $2,490.25, which comes to an pany specifically targeted black customers Smith has been with the college since National Women’s Council of Realtors or- annual income of $39,880, a little bit more for the refinancing. 1995 when he became an instructor in ganization in areas including: recruitment, than her annual salary as a City Council The $425 million goal is part of a multi- Moore Tech’s air conditioning department. retention, media coverage, participation at member. part settlement announced Tuesday, May He became director and chief administrative state and national conferences, and docu- 29, that includes the dismissal of the lawsuit officer in 1999. mentation of minutes and meetings. with Wells Fargo admitting no wrongdo- Smith has 20 years experience in voca- In addition, WCR Memphis donated ing. tional education. He taught air conditioning money from this year’s membership drive Megabus.com Announces A Wells Fargo spokesman described the and electricity for Memphis City Schools and to St. Jude Children’s Research Hospital and Texas Service via Dallas agreement as a “dismissal,” making a dis- State Technical Institute (adjunct faculty) as its fashion show fundraiser in September will tinction between that and a settlement. well as Moore Tech. raise money for breast cancer research. Megabus.com has added Texas to its Other parts of the settlement include Prior to vocational education, Smith WCR was formed in 1938 to promote schedule with initial fares as low as $1 during $4.5 million in mortgage down payment was a district manager for SunGas Liquids equality for female agents at a time when the first week of sales. and home renovation assistance grants. The and Suburban Propane and a technical many local real estate boards were resistant The express bus company on Thurs- grants are to be awarded for up to $15,000 representative and instructor in Rheem Air to offering memberships to women. It is the day announced service begins June 19 to

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and from Dallas, with seven cities on the Southwind. schedule. An affiliate of DRA also recently part- The carrier, which only sells tickets on- nered with Memphis-based Poag Lifestyle line, says the direct schedule includes Hous- Centers on the $60 million purchase of The FROM THE BLOG ton, Austin and San Antonio. Megabus.com Avenue in Collierville. will also serve some out-of-state cities: Little Shelby County Trustee David Lenoir, Rock, Ark.; Memphis; and Norman, Okla. Megabus.com will offer 21 daily depar- And the Laffer Curve tures from a designated stop in downtown Metropolitan Bank Releases Dallas. New Smartphone App Editor’s Note: “From the Blog” is a weekly feature that high- Megabus.com describes itself as a low- lights some of the enterprising work our staff and contributors cost express bus line that offers tickets via Metropolitan Bank has released its new- post on The Daily News blog, blog.memphisdailynews.com. the Internet. The vehicles have free Wi-Fi. est smartphone app, Xpress Deposit, which The fleet includes some double-decker allows clients to make a deposit by taking a buses. photo of a check on a mobile phone. ANDY MEEK | The Memphis News Xpress Deposit is available on the iP- hone, Android and Blackberry platforms. It’s available via a download from the phones’ hile addressing the Memphis Rotary Club earlier this month, DRA Advisors Closes on Two app store after completing a registration WShelby County Trustee David Lenoir told the crowd that Shelby Drive Warehouses with a Metropolitan client services adviser and allowing one business day for registra- “higher taxes don’t always equate to increased revenue.” New York-based DRA Advisors LLC has tion confirmation. The county trustee – whose remarks came at a time when closed on two Memphis warehouse prop- Clients with the app can make deposits both the city and county governments are trying to wrap up their erties for $12.3 million, as part of a larger 24 hours a day, seven days a week. Each de- portfolio purchase from Houston-based posit is typically posted on the next business latest fiscal year budgets – was describing an economic concept Weingarten Realty Investors. day if submitted before the cutoff deadline, known as the Laffer Curve. DRA Advisors acquired Southpoint I at and email notifications update clients on the It can be illustrated in the form of a parabola. There are three 4715 Shelby Drive and Southpoint II at 4655 status of the deposit. Shelby Drive under the entity G And I VII important points on that parabola. Two of the points are at both Southpoint I And II LLC from Weingarten, the ends. Say a government decides to collect zero percent in which used the entity WNI Tennessee LP, taxes from its citizens. Now say that government chooses to col- according to the Shelby County Register of Earliest-Ever Detection Of lect 100 percent. At both of those rates, the government probably Deeds. Virus in Shelby County Weingarten announced in April its plans won’t be collecting any money. The reason why is obvious at zero to sell its wholly-owned industrial portfolio The mosquito-borne virus that causes percent. At 100 percent, no one would probably show up for work to DRA Advisors for $382.4 million in efforts West Nile Disease has now been detected in to strengthen its focus as a pure retail Real seven Shelby County ZIP codes. the next day, if all their money goes to the government. Estate Investment Trust. The portfolio is Health Department coordinator Heather Here’s the third important point on that parabola. Presumably, made up of 52 industrial properties, totaling Burton Reynolds said Wednesday that the there is some mid-point on the curve where the government is 9.6 million square feet in Florida, Georgia, virus was initially detected May 8 — the ear- Tennessee, Texas and Virginia. liest it has ever been found in the county. collecting the maximum amount of money it can. Any rate past Prior to the sale, Weingarten Realty The department is spraying insecticide that point, and it starts becoming more and more counterpro- owned eight Memphis industrial buildings, from trucks to kill adult mosquitoes and ductive (people move, shift their income to avoid taxation, etc). all of which are managed by Brad Murchi- urging residents to make sure stagnant son of CB Richard Ellis Memphis. However, water doesn’t collect around their property. For the full blog entry, visit blog.memphisdailynews.com Southpoint I and Southpoint II were the only The virus was detected in mosquitoes that two properties being sold. The others are were trapped and tested. There have been no owned by Weingarten in a partnership. confirmed human cases of West Nile yet. DRA Advisors specializes in real estate investment management services for in- Dreyzehner spoke at a joint health summit gram Industries and Alcoa Inc. attended, stitutional and private investors, including in Nashville on Tuesday and said businesses but the health chief said the business com- pension funds, university endowments, Health Commissioner: need to step up for the benefit of their munity overall hasn’t come to the table in a foundations and insurance companies. The Fight Obesity Like Addiction employees. meaningful way. firm in Memphis owns two office properties Dreyzehner noted that most of those Nashville Mayor Karl Dean, who has – Germantown Center and Mid-Memphis Tennessee’s health commissioner says attending the meeting were representatives spearheaded walking and biking initiatives Tower – as well as four multifamily as- obesity is a relapsing disease that should be of health organizations. in his city, also spoke, saying workplaces are sets – Addison at Collierville, Bailey Creek, fought like a drug addiction. Representatives of Advance Financial, critical in shaping how employees live, eat Madison at Schilling Farms and Preserve at According to The Tennessean, Dr. John Eastman Chemical, Clayton Homes, In- and exercise.

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City Hopes to Reopen ready for Madison Avenue to be an avenue grant from the Memphis-based H. W. announced its 2012 “Men of the Year,” and Madison Avenue by Fall again.” Durham Foundation to assist MERI with for the first time two “Women of the Year”. Wharton said the city hopes to reopen all disaster response training in long-term This year’s recipients are: Fred Tillman, The wall shared by two Downtown of Madison Avenue as well as the sidewalks care facilities. CEO of Century Management; Shelby buildings will be stabilized before one of between Main Street and Second Street by The grant will help MERI begin training County District Attorney General Amy the structures is demolished by the city of early fall. long-term care facility nursing and other Weirich; Memphis Police Director Toney Memphis. direct care staff to care for the elderly in the Armstrong; and News Channel 3 Morning Part of the roof at 118 Madison Ave. col- event of disaster. The project will use hu- Anchor Markova Reed. lapsed in March 2011 and since then part man patient simulators in place of elderly Previous recipients of the award have of Madison Avenue, including the sidewalk, President Obama Signs patients to train all levels of nursing person- included U.S. Rep. Steve Cohen and Uni- has been blocked by barriers to protect the Bankruptcy Judgeship Bill nel in preparation, response and relief skills versity of Memphis men’s basketball coach public. to help care for residents before, during and Josh Pastner. The city of Memphis went to Environ- President Barack Obama has signed HR after disasters. mental Court in April to speed the demoli- 4967 a bill that extends certain temporary Working in conjunction with local com- tion process as the owners of the Madison federal bankruptcy judgeships around the munity partners in EMS, hospital safety and Avenue building and the owner of an adjoin- country. public health, MERI – a nonprofit medical UT to Open Confucius ing building at 119 S. Court Ave. reached an The bill will have a local impact, because training and research school – says it has Institute This Year impasse over demolition. one of the five bankruptcy judges in the the capacity and expertise to develop and James Meng, the owner of the Court Western District of Tennessee, which in- implement hands-on disaster training for The University of Tennessee will open a building, objected to sharing the cost of cludes bankruptcy courts in Memphis and long-term care facilities in Memphis and Confucius Institute to expand opportunities shoring up the wall. Jackson, is retiring soon. U.S. Bankruptcy Shelby County. to learn Chinese, China culture and travel Judge Larry Potter issued an order Tues- Court Judge G. Harvey Boswell is leaving the The national need for a care facility abroad. day, May 29, allowing a contractor to move bench effective July 8. workforce trained to respond in an emergen- Such institutes are nonprofit public ahead with work on the shared wall. The city The newly signed bill prevents that ju- cy will become more critical as the nation’s institutions run in cooperation with Chi- will pay for the stabilization work and assess dicial position from lapsing and increasing elderly population grows. In Tennessee, the nese partner universities and overseen by the property owners through a tax lien. The the load of what would have been the four elderly population is expected to increase Hanban, a Chinese Ministry of Education city expects the work to be completed at the remaining judges who currently hear cases dramatically over the next two decades. subsidiary. end of July and the building on Madison in Memphis. The University of Memphis has an in- as well as three adjoining structures, also stitute. owned by BBB Investments, will be demol- ished. BBB Investments will be responsible School Board TEI for the demolition work. Grant to Help MERI With Briefing Postponed “This situation began with the laws of Disaster Response Training MBGH Announces gravity and has continued under the laws Countywide school board members Conference Speakers of men,” Memphis Mayor A C Wharton Jr. The Medical Education and Research will get a briefing later on the Teacher Ef- said Monday in a written statement. “We are Institute in Memphis has received a $6,000 fectiveness Initiative, the Memphis City Memphis Business Group on Health Schools teacher professional evaluation and has announced the lineup for its annual development program that is about to be conference, which will be held Sept. 6 at the expanded to include Shelby County Schools Holiday Inn University of Memphis, 3700 system teachers. Central Ave. The board’s scheduled Tuesday, May 29, The 2012 conference will focus on navi- briefing on TEI was postponed. TEI is the gating effective health benefits in changing reform work being funded by a $90-million times. grant from the Bill and Melinda Gates Foun- The speakers are Bryan Jordan, president dation over seven years. Both school systems and CEO of First Horizon National Corp.; recently announced they have applied to Gary Shorb, president and CEO of Methodist continue the Gates Foundation funding for Healthcare; David Archer, CEO of Saint Fran- a TEI effort that would include both school cis Healthcare-Memphis; and Jason Little, systems. vice president and chief operating officer of The two school systems are scheduled to Baptist Memorial Health Care Corp. merge in the 2013-2014 school year. The conference will include topics such The board that governs both school sys- as how benefit design is used to more fully tems moves into a June that is scheduled to engage employees on their cost and quality include the board’s first formal discussions of health care, new tools to educate employ- about who should be superintendent at the ees about their benefits, and how Memphis start of the merger. hospitals are changing and how that will And MCS leaders are about to make the impact employers’ benefit structures. first decisions about which Level 1 and Level Visit www.memphisbusinessgroup.org 2 teachers will be dismissed from the school to register. system based on the first year of new teacher evaluations backed by the state. Teachers are graded at five levels on several factors, with a Level 5 teacher being the highest. Pirate-Themed Fundraiser The largest group of teachers in the Raises Money for COMEC evaluations were the 39 percent who were Level 3 teachers. Another 20 percent of MCS The sixth annual COMEC Treasure Hunt teachers were Level 1 or Level 2. But rank- will take place Sunday, June 3, from 1 p.m. ing in one of those levels does not mean to 5 p.m. at Memphis Botanic Garden, 750 automatic dismissal. Principals and other Cherry Road. administrators can decide a teacher will The pirate-friendly event will feature show improvement with more professional several live performers, including the Mid- development. South Buccaneers, teen singer Emma Webb, Collierville Arts Academy and Desert Rose Dance Co. There will also be live characters, pro- &RIDAY¬AT¬PM¬7+./ 110 Institute Announces fessional face painting, kids’ fun fair with &RIDAY¬AT¬PM¬7+./ Men and Women of the Year games, Home Depot kids’ workshop and a 3UNDAY¬AT¬AM¬7+./ marketplace featuring family-friendly busi- The 110 Institute, a Memphis-based nesses. Children’s goody bags and a pizza youth development and research firm, has lunch are included with admission. www.thememphisnews.com June 2-8, 2012 5 contributors June 2-8, VOL. 5, NO. 23 Get news daily from The Daily News, www.memphisdailynews.com. weekly digest

All proceeds from the event will benefit Webster Franklin, president and CEO of the Commission on Missing and Exploited the Tunica Convention & Visitors Bureau, Children (COMEC), the region’s Amber Alert said traffic appears to be rising at Tunica coordinator. The nonprofit searches for County’s nine casinos. President & CEO missing children and administers programs “The general feeling is we’re seeing more Peter Schutt bill dries designed to protect the children of the Mid- visitors,” Franklin said. “Now if only the ca- Senior Reporter General Manager Emeritus South from predators, both in public and sinos could get lucky at the tables.” Dries, from Memphis, has been a reporter for more than 30 Ed Rains online. Optimism is even higher on the Gulf years. His career stops include The Commercial Appeal, WHBQ AM, WREC AM and WLYX FM 89 way back in the 1970s! He now Publisher Coast The organization also provides child covers legal issues and other news. Eric Barnes identification cards, fingerprinting kits, Scott King of the Mississippi Gulf Coast 528-5277 | [email protected] in-home drug testing kits, counseling, and Business Council said he believes that the Associate Publisher & Executive Editor James Overstreet Internet safety seminars. Visit www.comec. Margaritaville casino will help unlock pent- org for more information. up demand among gamblers who sharply Managing Editor cut back spending during the recession. Lance Allan Wiedower Deputy Managing Editor Eric Smith

Overall Mississippi Casino Senior Reporter Revenues Slip in April Joiner Joins U of M Bill Dries Alumni Association andy meek Senior Reporter Revenue for Mississippi coast casinos Senior Reporter Andy Meek was up in April, but the take at river casinos Michael Burnett Joiner, a Memphis at- Meek, from Memphis, covers politics, the business community Reporter dropped, depressing the overall revenue at torney with Rainey, Kizer, Reviere & Bell PLC, and other news of general interest. He has won awards from the Tennessee Press Association and the Society of Sarah Baker the state’s gambling halls. has been named to the law school chapter of Professional Journalists. The state’s casinos won 1.2 percent the University of Memphis Alumni Associa- 528-5279 | [email protected] Reporter less money, with revenues falling to $187 tion. Joiner will serve a three-year term. Aisling Maki million last month from $189.3 million in He is licensed to practice in Tennessee, Associate Editor April 2011. Mississippi, Arkansas, Alabama, Missouri, Kate Simone Casinos in the Gulf Coast market’s rev- Kentucky and the District of Columbia. Lead Pressman enue rose 6.8 percent, to $93.4 million from While a student at the university’s Cecil C. Robert Shannon

$87.4 million. It’s the third month in a row Humphrey’s School of Law, he was a mem- Pressman of strong revenue increases for that region’s ber of the law review and active in moot Cedric Walsh 11 casinos. court. Pressman The take at the 17 casinos along the Mis- SARAH BAKER Pete Mitchell sissippi River fell 8 percent, to $93.7 million REPORTER Graphic Designer & Photo Editor from $101.9 million. Sarah Baker covers commercial and residential real estate, Brad Johnson Vicksburg’s Grand Station casino closed transportation and logistics. A native Memphian, she previ- Trustmark to Buy BancTrust ously worked for two regional magazines in Knoxville. Graphic Designer & Illustrator on March 28, temporarily reducing the In $55.4 Million Transaction 521-2464 | [email protected] overall number in Mississippi to 28 and it Emily Morrow likely accounted for some of the revenue Trustmark Corp. is buying BancTrust Graphic Designer decline. Financial Group Inc. in a stock deal valued Yvette Touchet Biloxi’s Margaritaville casino opened at approximately $55.4 million, helping the Senior Production Assistant earlier this week, pushing the total back to bank to expand in Florida and Alabama. Sandy Youngblood 29, but its contribution won’t be reflected The deal, announced Tuesday, values Production Assistant until May figures are released. BancTrust stock at $3.08 per share based Laurie Beck The numbers don’t include Choctaw on Trustmark’s closing stock price of $24.66 Administrative Specialist Indian casinos, which are not required to Friday. This is a 62 percent premium to Banc- Marsha Payne report their winnings to the state. Trust’s closing price of $1.90 on Friday. AISLING MAKI REPORTER Senior Account Executive Mississippi’s gambling halls have strug- Each BancTrust stockholder will receive Aisling Maki covers health care, the nonprofit sector and small Janice Jenkins gled to regain momentum after the reces- 0.125 shares of Trustmark common stock for business. Her career has included newspaper and magazine sion, with revenue sliding for four straight each BancTrust share they own. writing, broadcast and new media. Account Executive 528-8622 | [email protected] years after hitting a high of $2.89 billion in BancTrust, which is based in Mobile, Robin Bender 2007. Ala., has 49 offices in Alabama and Florida, Advertising Director April’s overall decline pushes the state’s with $1.3 billion in loans and $1.8 billion in Don Fancher casinos back after they had shown mod- deposits as of March 31. Trustmark, based Business Development Manager est growth in the first three months of the in Jackson, Miss., has more than 170 offices Patricia McKinney year. Despite the bad month, optimism is in Florida, Mississippi, Tennessee and Texas. Director of Marketing & Circulation rising among those who watch the casino Trustmark has 16 branches in the Memphis Donna Waggener industry. area. Controller Pam Mallett LANCE MURPHEY PHOTOGRAPHER Lance Murphey is an award-winning photographer and film- To reach our editorial department, e-mail: maker. He has 20 years of experience including The [email protected] Commercial Appeal, The Naples (Fla.) Daily News, the or call: 901-523-1561 Associated Press, The New York Times and Bloomberg. [email protected] Published by: THE DAILY NEWS PUBLISHING CO. U-STOR 193 Jefferson Avenue Memphis, TN 38103 P.O. Box 3663 SELF STORAGE Memphis, TN 38173-0663 Tel: 901.523.1561 Fax: 901.526.5813 IMMEDIATE OPENING FOR EXPERIENCED, www.memphisdailynews.com

PROFESSIONAL COUPLE TO MANAGE The Daily News is a general interest SELF STORAGE FACILITY IN MEMPHIS, TN. The Daily News is supportive, including in some case newspaper covering business, law, being on the boards of, the following organizations: government, and real estate and Literacy Mid-South, Grace St. Luke's Episcopal School, development throughout the Memphis Must be great with people and computers! Wolf River Conservancy, Ronald McDonald House, Great metropolitan area. Outdoors University, Tennessee Wildlife Federation, Leasing, collections and light maintenance. Temple Israel, St. Jude's, St George's Independent The Daily News, the successor of the Daily Schools, Shelby Residential & Vocational Svcs, Shelby Record, The Daily Court Reporter, and The Apartment with utilities, salary, bonus, benefits. Farms Park, Calvary & The Arts, Bridges, Boys & Girls Daily Court News, was founded in 1886. Club of Greater Memphis, Binghampton Development AUDIT PENDING Call (901) 282-9635, fax resumes to (901) 266-9903, Corporation, U of M Journalism Dept., Chickasaw Council Boy Scouts, Memphis Leadership Foundation, Junior or email to [email protected]. Achievement, Overton Park Conservancy, The Cotton Museum and WKNO. 6 June 2-8, 2012 www.thememphisnews.com

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REAL ESTATE & DEVELOPMENT Granting Wishes MAAR Commercial Council raises money for Make-A-Wish Foundation

SARAH BAKER | The Memphis News to get involved and remained involved. For example, I (wore) one group’s shirt and ake-A-Wish Foundation of the they are sponsoring Mid-South plans to grant 220 the President’s Golf Mwishes to children with life- Cart. We had to get real threatening medical conditions this year. creative because the On Thursday, May 24, the Memphis number of foursomes Area Association of Realtors Commercial sold out so quickly and Council was able to witness one of those there was still a big de- wishes being granted firsthand at Windyke mand for people want- Country Club, as well as donate enough ing to be involved.” funds to share the power of three addi- Larkin said the tional wishes. local chapter of Make- In front of a crowd of the city’s com- A-Wish stands out in mercial real estate professionals and that it strives to make volunteers, 17-year-old Krislyn Brown was the wish presentation granted her wish to visit the Atlantis, Para- as magical as the wish dise Island resort in the Bahamas. itself. “I just want to thank everybody,” “We put a lot of Brown said when she heard her family pride in matching would be treated to a vacation before her up our sponsors, like senior year at Houston High. “I really ap- MAAR, to be able to meet their wish child preciate it and so does my family.” Photo: Lance Murphey This time last year, Brown was com- Krislyn Brown, 17, standing with her parents, Fred and Connie Rauch, learns that her wish – a trip to the Ba- and tell the child that pleting her first treatment of chemothera- hamas – was granted. She heard the news during the MAAR Commercial Council Charity Golf Tournament. their wish is being py at St. Jude Children’s Research Hospital. granted,” Larkin said. She is a survivor of Stage 3 ovarian cancer. implemented by last year’s president, community has stepped up to participate “A lot of chapters don’t do that.” While presenting Brown with her Ron Riley, who felt the need to get the in this event,” said Tony Argiro of High- While the concept of a golf tournament beach bag of accessories, emcee Ron organization’s 350 members involved in a wood Properties Inc., one of the tourna- is nothing novel, it provides the local CRE Olson of FM 100 said now Brown will have philanthropic component outside of the ment’s many organizers. “We started our community an opportunity for network- the chance to get away for a while and, everyday hustle and bustle of CRE. fundraising in earnest in late January/ ing, a little light-hearted competition and “forget about all of the trips to St. Jude.” “We don’t get $20,000 donations every early February and it sold out within three most importantly, to give back. Earlier this year with the help of Mem- day,” said Liz Larkin, president and CEO weeks.” “There are a lot of great golf tourna- phis firefighters, the MAAR Commercial of Make-A-Wish Foundation of the Mid- The tournament had 31 teams of four ments out there, but I tell you what, the Council was able to grant Collierville stu- South. “It means a lot to us.” and more than 100 sponsors. impact and the comments we get from dent Trey Erwin’s wish of going to Hawaii. Since the average wish costs about “We had such a strong demand, we people actually being able to see to wish Erwin has Stage 4 pancreatic cancer. $5,000 to execute, MAAR will be able to were making up new sponsorships this granted and knowing that their foursome The Council raised about $20,000 grant two more wishes this year. That’s year,” said John Mercer of Highwoods or their sponsorship money – A, they had during its second annual golf tournament seven wishes in the two years. and 2012 president of MAAR Commercial a good time, but B, it goes to something benefiting Make-A-Wish. The benefit was “A lot of the commercial real estate Council. “We had people who wanted worthwhile.”

logistics Xpedx, Distribution at Heart of IP’s Future

BILL DRIES | The Memphis News to this year’s acquisition of rival Temple- those regions leading those businesses.” paper business, Mary Laschinger, senior Inland of Austin, Texas. IP is described by Faraci as primar- vice president of xpedx, said the company With investors last month, Faraci and ily a manufacturing business. But one of also made a key change seven years ago IP executives talked of a paper, corrugated Faraci’s near-term challenges is xpedx, to xpedx, which had been acquiring rivals nternational Paper Co. executives spent cardboard and packaging company that which not only does commercial printing and others in the same line of work since more than four hours last week talking still has a global reach but which is moving but also business-to-business distribution the late 1980s. Xpedx bought 20 compa- Iwith investors and analysts about the its goods based on the needs of very differ- of packaging, print and facility supplies nies in a 19-year period ending in 2008. Memphis-based company’s near-term po- ent markets – mature and emerging. Those in North America. Commercial print- “When we made those acquisitions tential and future. markets are divided into five global regions ing is 60 percent of xpedx’s revenues and we had a view that based on the custom- IP CEO John Faraci declared earlier – North America being the largest. those revenues are “struggling” by Faraci’s ers and markets, we did not fully integrate this year that the paper and packaging “And it probably will continue to be description. At the end of the first quarter all of these businesses into one single company with global holdings is now that way for a long time,” Faraci said. of 2012, xpedx had earnings of $19 million system,” she said. beginning its post-transformation period “That said, we have $6 billion of revenues compared to $33 million in the last three That changed starting in 2005 and by that began in 2005 when it sold $11 billion outside North America in low-cost, high- months of 2011. the end of last year, according to Lasch- worth of its assets including timberlands margin places and we have strong capable While IP’s move to sell off its timber- inger, the integration process was almost and continued through the recession up management teams on the ground out in land holdings turned a lot of heads in the complete. www.thememphisnews.com June 2-8, 2012 7

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DOWNTOWN DMC Hires North Star of Nashville For South Main Branding Campaign

SARAH BAKER | The Memphis News

he Downtown Memphis Commis- briefed the board on the process, which Star, Charlotte, N.C.-based firm Shook vice president of marketing and communi- sion unanimously voted to hire started three months ago with national Kelley and Greenville, S.C.-based Arnett cations Leslie Gower. North Star’s time- TNashville-based North Star Destina- requests for proposals. Muldrow & Associates. line is a five-month process that involves tion Strategies to help in the organization’s An interview process narrowed the “It was sort of like being an American interviews and quantitative and qualitative South Main branding campaign at its firms down to four, one of which was local Idol judge – every one of those propos- research. monthly board meeting Friday, May 25. – a pairing of Hemline Creative Marketing als and presentations … were extremely Ultimately, the company will condense Carl Person, DMC board member and and Red Deluxe Brand Development. The good,” Person said. “But going back to its findings into a narrative that will guide chairman of the selection committee, other three contending firms were North the main focus of what we were trying to what the branded message will be. do was come up with a marketing brand “At that point, we want to ensure that of South Main. We were looking for a we have local participation to do phase company that could combine all of the two, which is the implantation of the diversity that takes place on South Main brand,” Gower said. transportation from retailers to art … from the Civil Rights Meanwhile, DMC president and CEO Paul Morris updated the board on its redevelopment efforts at the Chisca Hotel at the corner of newly named Dr. Martin Airfare Arguments Luther King Jr. Avenue and South Main Street. “We believe that the Chisca project is Hit Social Media the most important project that’s achiev- able for Downtown this year,” Morris We had a very strong said. “The reason is experts have come to BILL DRIES | The Memphis News interest in keeping things Downtown over the last decades and … Memphis. But did we want given us advice about ways to improve our city and almost all of them have pointed to use a firm in Memphis to the Chisca … and said that is a major f Facebook groups are any indica- at Memphis International. that is capable of doing it, barrier to your success as a city. It takes tion, the discussion about high High airfares have become more or did we want to use the up an entire block and turns it into a dead airfares at Memphis International acute with cutbacks in air service at “ block.” I best firm? Using the best Airport is intensifying. Memphis International by Delta Air firm as our final decision- Morris said one of the biggest barri- Two rivals in August’s Democratic Lines Inc. that started last August and an ers to South Main’s success is the Chisca Congressional primary debated on the overall rise in airfares caused by the spike making tool when the block. More than one million trolley pas- Facebook group page “Delta Does Mem- in fuel prices in the last two years. judges huddled, we came sengers pass the “blighted, boarded up” phis,” and two new group pages were Meanwhile, the issue became part of out with the best firm and building each year. created on the social media site. the August Democratic primary election that was North Star.” Another reason to save the nearly The Memphis-Shelby County Airport contest between incumbent U.S. Rep. century-old building – where Elvis Pres- Authority board, the Greater Memphis Steve Cohen and challenger Tomeka – Carl Person ley’s “That’s All Right” was first played on DMC board member and chairman of the selection committee Chamber and the Memphis Convention Hart. Dewey Phillips’ 1954 radio broadcast – is and Visitors Bureau on May 24 launched Hart took to “Delta Does Memphis” Downtown has “the strongest demand for “My Memphis Airport” group on Face- on May 24 to criticize Cohen without people wanting to live Downtown than book. mentioning him by name. Museum … a company that could bring all we’ve ever had,” Morris said. Hours later, “Memphis Wants South- “It’s disappointing that we haven’t of those units together.” The Chisca is owned by the Church west Airlines” showed up on Facebook. heard more about this from our current Red Deluxe recently produced the new of God In Christ but is under contract to Each group has at least a slightly differ- Congressman; even more so, when you logo for Loeb Properties Inc.’s Overton be converted into a mixed-use develop- ent focus. take into consideration that he sits on Square redevelopment, as well as a port- ment with the same local partnership that The “My Memphis Airport” group the Transportation Committee that could folio of clients that include the Memphis bought and is renovating One Commerce represents a further realization by airport play a role in ensuring that airports and Grizzlies. Square. and civic leaders that they must respond their cities-regions are not being used But Person said North Star has 20 years Yet with removing asbestos and other to the complaints about Delta Air Lines and abused by airlines,” Hart wrote. “An experience with projects “very similar” remediation efforts, the total project cost is Inc.’s markedly higher airfares and re- elected leader should be willing to speak with what the DMC is looking for on South estimated at about $20 million, depending duced service at Memphis International out and do something about an issue Main, from branding and building collabo- on whether the later addition to the hotel Airport. so important to the constituents she/he ration among the retailers and neighbor- is included. About $17 million of that total Those complaints have, at times, serves.” hood stakeholders to the implementation will be investor debt and equity. been critical of the airport’s leadership. Cohen responded the Thursday process. Morris said the “numbers don’t make MSCAA vice president and chief op- morning with a post on the page that in- “We had a very strong interest in keep- the project work on a purely private basis” erating officer Scott Brockman acknowl- cluded a photo of him standing in front ing things Memphis,” Person said. “But did and “there are easier ways to make money edged citizens’ frustration with the fares of Air Force One at Memphis Interna- we want to use a firm in Memphis that is in the suburbs.” but said they don’t speak to any large- tional Airport. capable of doing it, or did we want to use Memphis City Council members scale disastrous situation at the airport. “I have voted with the employees/ the best firm? Using the best firm as our fi- recommended a $2 million grant from “We don’t need to be saved,” he said. consumers and against Delta’s position nal decision-making tool when the judges one-time capital improvement projects “I understand the airfares. But the air- 100 percent of the time regarding orga- huddled, we came out with the best firm money to encourage private redevelop- port is not crashing and burning.” nizing, safety, conditions and passengers and that was North Star.” ment efforts at the Chisca during commit- The airport authority board this bill of rights,” Cohen wrote. “In a deregu- The next step with the South Main tee sessions Tuesday, May 15. month approved a $1 million pool of in- lated industry (remember Reagan) there branding initiative is for the DMC to nego- City Council is scheduled to vote on centives to promote new nonstop service is not a legislative fix.” tiate a contract with North Star, said DMC the Chisca funding at its June 5 meeting. 8 June 2-8, 2012 www.thememphisnews.com

FedEx to Buy financial services Brazilian Shipper TDN Seminar Will BILL DRIES | The Memphis News Tackle Hottest Topics emphis-based FedEx Corp. is buy- ing its authorized FedEx represen- ANDY MEEK | The Memphis News Mtative in Brazil to become part of FedEx Express. The agreement to buy Rapidao Cometa Logistica e Transportes SA is the fifth by the Heavy hitters will discuss local and global economic issues Express division since February 2011 as FedEx acquires networks of existing domestic routes n Shelby County Trustee David Lenoir’s opinion, too and he is articulate about economic issues ranging from and services already in place in Europe and many people have been “ingrained” with the notion the state all the way to the national level. Latin America, linking them to its interna- Ithat government is always the solution to community “From the county’s perspective, I’m real pleased with tional transportation and logistics network. problems. the path we’re on,” he said. “I think Mayor Luttrell’s done Rapidao Cometa has been the FedEx In one of his recent columns for The Memphis News, an outstanding job of, throughout this whole downturn, representative in Brazil for 11 years. The Waddell & Associates president and CEO David Waddell being able to balance the budget with no tax increase. At purchase of the company, which FedEx welcomed readers “back to 2011,” thanks to the return of the same time, I’m extremely concerned about the path the executives expect to close in the third quarter, “global growth jitters,” the U.S. once again caught up in city’s on, because it seems to be more of just kicking the comes with 9,000 employees and a ground fiscal brinkmanship and the fate of the euro again in ques- can down the road. Not dealing with their financial condi- distribution network that does small pack- tion. tion.” ages and heavyweight shipments through 45 Indeed, there’s a lot to talk about along those lines, Lenoir told the Memphis Rotary Club earlier this month branches and 145 distribution points with 770 which is why attendees at next month’s “Money and Mar- that higher taxes shouldn’t be viewed as a panacea – that vehicles. kets” seminar, part of The Daily News’ 2012 Seminar Series, they “don’t always equate to increased revenue.” FedEx executives anticipate the integra- should expect a wide-ranging discussion about all things “I will say, I think there’s some uncollected revenue out tion of the company will take a year and a half economic. there on both sides, the city and the county, whether it’s in to two years after closing. Waddell and Lenoir are two of the panelists scheduled the courts or in delinquent taxes or in delinquent PILOTs,” FedEx announced earlier this month it to attend, along with Rick Kramer, chief investment officer Lenoir said, referring to the tax-freeze business incentive had closed a deal to buy TATEX, a business- of Dixon Hughes Goodman LLP. program known by the shorthand PILOT, which stands for to-business French express transportation In addition to being a columnist for The Memphis News payment-in-lieu-of-taxes. company. And in April, the company an- (see below for this week’s offering), Waddell’s insights have On a national level, Lenoir said he thinks things “are still nounced it would buy the Polish courier appeared in The Wall Street Journal, USA Today, Forbes, very fragile.” company Opek Sp.z.o.o. BusinessWeek, Investment News, Institutional Investor And while unemployment is falling in some areas – in- FedEx Freight opened three new service News and The Tennessean, to name a few. He also makes cluding Shelby County, where just-released jobless figures centers in Mexico in August. The division pro- frequent appearances on the CNBC and Fox Business News show a drop from 9.1 percent in March to 8.3 percent last vides less-than-truckload (LTL) services there. cable channels. month – Lenoir stressed that doesn’t take into account the The freight expansion came a month after The keynote speaker will be Michael Drury, chief people who’ve stopped looking for work. FedEx Express completed its acquisition of economist at McVean Trading & Investments. “I think everybody is in tune to the fact that it’s a num- MultiPack, a logistics and delivery services The seminar, to be held June 7 at 3:30 p.m. in the audi- bers game,” he said. company that served the Mexican domestic torium of the Memphis Brooks Museum of Art, is spon- The next Daily News seminar will be on “Sustainable market. sored by Waddell & Associates, Dixon Hughes Goodman Energy” and will take place at the Memphis Brooks Mu- In February 2011, FedEx bought AFL Pvt. LLP and The Daily News. seum of Art on Aug. 2, followed by “The Business of Health Limited and AFL’s affiliate, Unifreight India It will be followed by a wine and cheese reception in the Care” on Sept. 20 and a “Commercial Real Estate Review Pvt. Ltd., making the logistics and distribution museum foyer. and Forecast” on Nov. 1. business part of FedEx Express. Lenoir’s job essentially makes him the county’s banker, Visit www.memphisdailynews.com/seminar to register.

Take a Very Close Look at Entry Point Valuations

Chase Vacuums not Bubbles bubbles, but from chasing vacuums. come nearly $4 million by 1937. world changes when you look at it this Markets regained their composure last In June 1932, the U.S. was in the In the big game of investing, what is way, doesn’t it? If I told you that you had week as the threat of a Greek tragedy di- deepest throws of the Great Depression. most determinant of future investment re- to pick one of these markets to invest in minished. While there are a couple of mile In Chicago alone 42 banks collapsed. turns is not which party is in charge, what for the next 10 years and you couldn’t markers before the Greek Shortly after, Washington the economic growth rate is, what war touch the money until 2022, which would election on June 17, markets politicians vilified bankers may be imminent or which country may you pick? will remain anxious until as parasites that needed default. What is most important is entry By the way, this “hold your nose” logic the ballots are cast. For the exterminating. Sound famil- point valuation. Using S&P 500 historical extends to stocks as well. According to moment, the environment iar? In 1932, 32,000 com- data, here are 10-year annualized returns the Brandes Institute, after grouping U.S. closely resembles the third panies went out of business following different entry point P/Es. stocks into 10 deciles by value charac- quarter of last year, with and unemployment hit 25 teristics, between 1980 and 2010 the U.S. large cap dividend pay- David S. Waddell percent. The stock market Entry Point P/E Subsequent 10-year lowest valuation stocks outperformed the ing stocks absorbing fearful the worldly lost nearly 90 percent of its annualized returns highest valuation stocks by 575 percent. capital at the expense of investor value between September Below 14 15.54% What makes valuations for countries or everything else. 1929 and June 1932. 14-16 14.35% companies low today are the despondent This “risk-off” trade dominated 2011 As the nation peered into the abyss, 16-19.99 8.35% appraisals applied; what makes their and has re-asserted itself forcefully since the normalized P/E on the U.S. stock mar- 20 and above 3.76% returns higher tomorrow is that things are March. However, bubbles know no bounds ket hit an all time low of 4.77. How much rarely as bad as we expect them to be. and can form in any asset that draws over- would you like to buy?? Had you pur- Clearly, lower entry point P/Es cor- allocation, be they tech stocks, financial chased index shares in June 1932, over the relate with higher long-term returns. Now David Waddell, who is regularly fea- stocks, gold, next five years, not including dividends, let’s tour the planet and take inventory tured in the Wall Street Journal, USA Today Treasuries or U.S. large cap dividend your investments would have appreciated of current entry point valuations. Greece: and Forbes, as well as on Fox Business paying stocks. But remember, true durable 28 percent annually; $1 million dropped 4.4, Spain 6.6, France 9.6, Hong Kong 11.3, News and CNBC, is president and CEO of investment returns come not from chasing into the market in 1932 would have be- Germany 14.5, China 15.9, U.S. 16.7. The Memphis-based Waddell & Associates. www.thememphisnews.com June 2-8, 2012 9 /QPG[/CTMGVU'ZVTC Natural gas prices have plunged to 10- ing seasons, and is when inventories were willing to finance anything with the more comfortable about being near the year lows. Supplies have been boosted are built for future consumption. As re- words shale, fracking or gas in the de- turning point for both gas prices and Outlook for by a surge of new drilling in the U.S., and cently as a few weeks ago, gas in stor- scription, and producers signed leases predictability, with our biggest concern InsiderQ&A new techniques including hydraulic fractur- age was 50 percent above normal, and with land owners that included contractu- being that stock prices don’t wilt along natural gas ing, or fracking. That’s good for consum- there is a finite amount of storage ca- al promises to drill, regardless of price. It with gas prices as the summer goes ers who rely on low-cost gas to generate pacity. Once storage is full, prices can has taken this long for the process to run along and storage fills up. electricity and heat homes. But it has hurt go anywhere but up. Without the stor- its course. Not only is investment capi- gas producers such as Chesapeake Ener- age option, producers can only sell what tal moving from gas to higher-return oil Might there be an ideal time to invest Who he is: Co-manager of the gy, whose shares are down more than 30 they have at whatever price the market prospects, but equipment and other sup- in natural gas? Columbia Select Large Cap percent this year. Rich Rosen believes gas will bear, unless they choose to “flare” it plies are following suit. Though we may never get there, as a Value fund. prices are unlikely to stay this low over the (throw it away), or shut in the wells en- long-term investor, the ideal investment What he suggests: The long run. He’s not ruling out the possibility tirely. What risks might prevent the long- environment is one where bankers, ex- decline in natural gas prices of a further decline in coming months, but term gas price recovery you’re ex- ploration and production companies, and may be nearing its end, sees a potential long-term opportunity in Why do you think investments in nat- pecting? investors all conclude that the industry creating potential long-term stocks of gas producers. ural gas are likely to perform better The two biggest ones are the summers is uninvestable, and is “never” coming opportunity. than they have in recent years? and winters being mild, or the econo- back. It may not happen with gas, but Track record: The fund has What might cause prices to decline fur- The industry itself is beginning to mature. my collapsing. Both would delay the re- we want to have our eyes open to the returned an annualized average 4 percent over the ther in the short-term? Much like the gold rush of 1849, early covery, but not kill it. The gas drilling rig possibility. Rich Rosen past 10-year period. We are in the “shoulder” months for gas success led to overwhelming supply. In count is already down 35 percent from production, which occurs in between heat- this case the capital markets and banks its high of 935 last October. We feel Answers edited for content and clarity. AP

BEHIND THE BRAND MEN’S WEARHOUSE (MW)( ) A passage to India Tailored for It’s getting easier to invest in one of the globe’s Yet there are challenges. Political gridlock is biggest growth stories. The number of mutual funds delaying much-needed infrastructure upgrades and that invest primarily in India’s stock market has the economy is growing at its slowest pace in years. growth doubled to 10 in the past two years. That growth led The Reserve Bank of India cut interest rates for Morningstar to create a separate India fund category the first time in three years in April, but warned that it to better track and compare performance. saw little leeway for further rate cuts because of George Zimmer believes we’re There are plenty of reasons why India is an inflation fears. Inflation accelerated to 7.2 percent last in the golden age of the suit. attractive long-term investment option. Demographics month. And from his vantage point as founder and chairman of The are key: India is expected to overtake China as the Even so, that doesn’t negate India as a potential Men’s Wearhouse, it’s not hard to world’s most populous country around 2030, and half long-term investment. It just isn’t a good time to invest see why. Thursday’s close: $35.99 of its population is under in a narrowly focused India The Houston clothier broke 25. That means the fund. The Indian stock market Price-earnings ratio: 16 company records last year, selling (based on last 12 mos.) number of workers fueling has dropped 12 percent in the 3 million suits and renting 3 million the economy will rise for last three months, but remains tuxedos. 52-week price range decades to come. up 5 percent for the year. That helped drive sales to $2.4 $24.50 $40.97 India’s stock market has Investors who are unsure billion in fiscal 2011, a 13 percent more than 5,000 listed of the potential should look at increase over the year prior. 1-yr. stock change: 4.5% companies, including such the returns of the oldest India Earnings vaulted 78 percent to 1-yr. S&P 500 change: -2.6% $120.6 million. names as Infosys stock fund available to U.S. Market value: $1.8 billion Technologies, automaker investors, Eaton Vance Greater And Men’s Wearhouse is 2011 revenue: $2.4 billion Tata Motors and drug India (ETGIX). It has a posted already eyeing an even bigger maker Dr. Reddy’s an average annualized 10-year year. The company’s forecast for Avg. broker rating: Laboratories. return of 15 percent. fiscal 2012 calls for its earnings per share to improve as much as SELL HOLD BUY 20 percent. Investing in India Consider a more diversified PERCENT OF Men’s Wearhouse was founded emerging markets mutual fund until some of the economic PORTFOLIO in 1973 and now operates 1,162 of tuxedo rental stores to 750 in TOTAL RETURN INVESTED uncertainty in India subsides. stores. In addition to its namesake the U.S. and 125 in Canada over 1 YEAR 5 YEAR* 10 YEAR* IN INDIA stores, the company also runs the next several years. stores under the Moores and K&G As the company has grown, Oppenheimer Developing Markets (ODMAX) -12.8% 3.6% 16.5% 12% brands. Both sell men’s suits and Men’s Wearhouse’s stock has Virtus Emerging Market Opportunities (HEMZX) -0.6 4.5 13.7 24 other clothing, but K&G stores also been a great fit for shareholders. carry women’s apparel. Shares are up 47 percent from American Funds New World (NEWFX) -11.9 flat 10.4 5 Looking ahead, Men’s their 52-week low of $24.50 on Wearhouse plans to grow its slate Oct. 4. Sources:Source: Morningstar; FactSet; S&P FactSet Indices *annualized Returns through May 23 "/?9
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.QECN5VQEMU 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 27.29 0 34.11 34.17 +.33 +1.0 s s s +13.0 +13.7 50 1.76 Medtronic Inc MDT 30.18 7 40.81 36.84 +.19 +0.5 t t t -3.7 -6.7 11 0.97 AutoZone Inc AZO 266.25 9 399.10 380.26 +1.01 +0.3 s t s +17.0 +27.8 18 ... Merck & Co MRK 29.47 9 39.50 37.58 +.18 +0.5 s t t -0.3 +7.7 17 1.68 9 s s s BancorpSouth BXS 8.23 14.35 13.49 +.20 +1.5 +22.4 +4.1 19 0.04 Mid Amer Apartments MAA 55.10 7 73.36 67.39 +.79 +1.2 s t s +7.7 +2.8 46 2.64 7 s s t Boyd Gaming BYD 4.12 9.81 7.62 +.01 +0.1 +2.1 -19.0 76 ... Monsanto Co MON 58.89 8 83.95 77.20 +.79 +1.0 s s t +10.2 +11.4 22 1.20 Buckeye Technology BKI 22.45 4 38.50 27.71 -.32 -1.1 t t t -17.1 +12.7 15 0.32f Mueller Inds MLI 34.86 6 49.86 42.48 -.46 -1.1 t t t +10.6 +19.0 21 0.40 Community Hlth Sys CYH 14.61 6 28.99 22.01 -.37 -1.7 t t t +26.1 -21.9 9 ... Navistar Intl NAV 26.14 1 66.04 27.94 -.32 -1.1 t t t -26.2 -56.7 9 ... Corrections Corp CXW 18.41 6 31.87 26.07 -.13 -0.5 r t t +28.0 +14.0 17 0.80 Nike Inc B NKE 76.98 9 114.81 108.18 -.07 -0.1 t t t +12.3 +29.9 23 1.44 Cummins Inc CMI 79.53 4 129.51 96.95 -2.05 -2.1 t t t +10.1 -4.2 10 1.60 Pinnacle Entert PNK 8.06 3 15.50 9.78 +.06 +0.6 s t t -3.7 -32.9 31 ... Delta Air Lines DAL 6.41 0 12.00 12.10 +.35 +3.0 s s s +49.6 +17.5 8 ... 9 t t t Dillards Inc DDS 38.99 9 72.46 67.24 -1.16 -1.7 t s s +49.8 +22.1 7 0.20 Regions Fncl RF 2.82 7.12 6.29 +.09 +1.5 +46.3 -10.6 23 0.04 7 s t t Dover Corp DOV 43.64 5 70.15 56.56 -1.07 -1.9 t t t -2.6 -10.5 12 1.26 Renasant Corp RNST 11.80 17.16 15.29 +.26 +1.7 +1.9 +4.9 16 0.68 DuPont DD 37.10 6 57.50 48.26 -.17 -0.4 t t t +5.4 -4.7 13 1.72f Sara Lee Corp SLE 15.66 8 22.35 20.90 -.15 -0.7 t t t +10.5 +10.1 63 0.46 Education Realty Tr EDR 7.16 9 11.55 11.02 +.06 +0.5 s t s +7.7 +33.2 dd 0.28 Smith & Nephew PLC SNN 42.07 4 56.54 46.66 -.02 ... t t t -3.1 -15.0 67 0.87e FedEx Corp FDX 64.07 8 98.66 89.14 +.21 +0.2 t s t +6.7 -2.7 14 0.52 Smucker, JM SJM 66.43 7 81.97 76.56 -.77 -1.0 t t t -2.1 +1.3 19 1.92 6 t t t Fst Horizon Natl FHN 5.38 10.99 8.48 +.03 +0.4 +6.0 -18.8 16 0.04 Suntrust Bks STI 15.79 6 28.33 22.92 +.75 +3.4 s t t +29.5 -20.1 16 0.20 7 t t t Freds Inc FRED 10.27 15.27 13.75 +.09 +0.7 -5.7 -2.0 15 0.24 Synovus Fincl SNV 0.94 7 2.40 1.91 +.03 +1.6 s t t +35.5 -19.0 dd 0.04 GTx Inc GTXI 2.34 2 6.86 2.92 -.02 -0.7 t t t -13.1 -48.6 dd ... Sysco Corp SYY 25.09 4 32.21 27.91 -.10 -0.4 t t t -4.8 -9.1 14 1.08 Ingram Micro IM 15.45 6 19.80 17.83 -.17 -0.9 t t t -2.0 -3.6 10 ... Trustmark TRMK 17.06 9 26.16 24.42 -.01 ... r t t +0.5 +7.8 14 0.92 Intl Paper IP 21.55 6 36.50 29.20 -.08 -0.3 t t t -1.4 -1.9 10 1.05 Tyson Foods TSN 15.60 7 21.06 19.37 +.08 +0.4 s s s -6.2 +4.9 12 0.16 Isle Capri Casino ISLE 3.90 3 9.37 5.35 +.27 +5.3 s t t +14.6 -42.9 28 ... UPS class B UPS 60.74 7 81.79 74.94 +.33 +0.4 r t t +2.4 +5.2 19 2.28f Kellogg Co K 48.10 1 57.00 48.78 -.58 -1.2 t t t -3.5 -9.5 14 1.72 3 s t t Kirklands Inc KIRK 7.69 4 17.42 10.84 -.09 -0.8 s t t -18.5 -16.2 12 ... Utd Technologies UTX 66.87 91.83 74.11 +.37 +0.5 +1.4 -12.4 13 1.92 4 t t t Kroger Co KR 21.14 2 25.85 22.01 -.34 -1.5 t t t -9.1 -7.8 23 0.46 Valero Energy VLO 16.40 28.68 21.10 -.71 -3.3 +0.2 -17.1 6 0.60 LifePoint Hosp LPNT 28.95 6 42.23 36.82 -.27 -0.7 t t t -0.9 -10.0 11 ... Verso Paper Corp VRS 0.85 2 3.80 1.15 +.04 +3.6 s t t +19.8 -69.1 dd ... Macy’s Inc M 22.66 8 42.17 38.05 -.25 -0.7 s t t +18.2 +34.2 12 0.80 Wright Medical Grp WMGI 13.37 8 21.46 19.79 -.22 -1.1 t t s +19.9 +29.3 34 ...

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 June 2-8, 2012 www.thememphisnews.com

Consider Buying LOGISTICS Your First Home Ray’s Take Cautious Optimism I’ve long believed the economic benefits of home ownership are overrated and renting is under- BILL DRIES | The Memphis News appreciated. However, for some first-time home- buyers the math has started to turn and they may find it less expensive to buy a home than rent! The Housing Affordability Index is at its high- est level since recordkeeping began in 1970. This means home ownership is more affordable than it has been in more than 40 years. Why? Mortgage rates continue to be exceptionally low. Home prices have plunged. Existing homes are lan- guishing on the market, plus there’s an exceptional quantity of foreclosed homes available at bargain prices. Added to this is a “shadow inventory” of homes that are either bank-owned or going through fore- closure. These homes are being kept off the market in hopes that home prices will soon rise. That’s a lot of downward pressure on home prices. Lending ray & dana Brandon standards rays of wisdom have started to loosen up, making it somewhat easier to qualify for a mort- gage. The “zero down” deals are gone, thank good- ness, so expect to have a good down payment. The Memphis News File Photo: Lance Murphey When you do the math, it may be cheaper to Fuel prices remain high for trucking companies, but recent drops in oil and a revised forecast that was lower than “rent” money from a bank to purchase a home than expected have given them a slight break. to rent a home. Since so many foreclosed families are returning to rentals and others are hesitant or Industry likes lower-than-expected gas prices but remains wary unable to buy, rental rates are on the rise. If you lock into a fixed interest rate mortgage, you won’t be fac- gallon of regular unleaded previous outlook. catch up in a couple of weeks. But a ing those increases. gas was going for $3.13 to But for those in the trucking couple of weeks to an owner-opera- We haven’t even talked about the special incen- A$3.15 a gallon Sunday, May business or who offer logistics and tor is significant.” tives in place for first-time buyers like property 27, at the corner of Dexter and Ger- supply chain services that include Fuel prices are about 39 percent tax deductions, mortgage interest deduction, and mantown Parkway in Cordova. trucks, the question is how long will of the cost of operating a truck, said equity building. But don’t expect to rapidly build The week before that Memphis the lower prices last. Cliff Lynch, head of C.F. Lynch and equity with rapid appreciation in home prices as metro area gas prices has been If they are a flash in the pan, as Associates, a Memphis logistics with prior cycles. A lot of other important factors marked as the lowest on average in the gas price of $3.41 a gallon less management advisory services firm. should be factored in, the probability of staying put the country at $3.34 a gallon. than a mile from Dexter Road and The next biggest percentage is labor for a while chief among them. However, for lucky As trucking companies in the Germantown Parkway indicated, and the trucking industry has a first-time buyers, the tide is turning. city prepared to park some of their the lower price doesn’t register in critical shortage of drivers. rigs for the long Memorial Day weekly federal DOE fuel price aver- “The bad news for the carriers Dana’s Take weekend, some who run the com- ages. Those are used in many cases is I think they are going to get even Buying your first home is both exciting and panies were cautiously optimistic. to determine the fuel surcharge. It is more pressure from the shippers scary. Two ways to decrease the scare factor is to Others were wary. the surcharge that determines how to reduce their rates or reduce the have your Realtor include two requirements in any Both outlooks reflect the differ- drivers and their companies recoup fuel surcharge which is the way they home offer you make. ences in how gas prices affect retail the fuel prices. get that money back,” Lynch said. Insist your contract becomes valid only if the consumers and how they affect “The fuel surcharge is, at least “Some of them might be able to use home passes a professional home inspection. Be logistics companies, particularly from our perspective, an opportu- some of that fuel saving to pay a sure to attend the home inspection and ask ques- trucking, which moves other retail nity to somewhat keep pace with little higher driver wages. … So, they tions. You’ll learn a lot about your home and find goods to consumers. the increasing bulk fuel rates on a won’t see their total costs go down out about any hidden flaws. If there are important “I wouldn’t call them good,” said weekly basis,” said Alex Blanken- any.” ship, president of TransOne LLC of Blankenship said the fuel prices problems, this gives you an opportunity to either Katie Hooser, Intermodal Cartage Company’s business development West Memphis. “It does give you an also affect rail and air cargo. Neither negotiate for a better price or have the present director. “They’ve dropped a little opportunity to kind of offset some Hooser nor Blankenship said their owner make needed repairs. bit. But I think it’s really difficult to of those rising costs. But it certainly companies use fuel price hedging Secondly, ask the home seller to pay for one tell what is going to happen. They doesn’t make up for the wholesale programs that are used by larger year of home warranty insurance. Since you typi- were so high a couple of month ago increases as fuel goes up. It’s a way fuel consumers, most notably Delta cally have a lot of expenses associated with moving, that just a little bit of a dip is just to try to minimize some of the Air Lines Inc. The Atlanta-based this gives you a financial cushion in case something that.” losses. A lot of times the shippers passenger airline, which has a hub does go wrong with the home in your first year of One good sign is the U.S. pass it on down to the end user. In at Memphis International Airport, ownership. These safeguards help lessen the wor- Department of Energy earlier this the end, the consumer is the one confirmed earlier this month that ries of unwelcome surprises so you can focus on month lowered its diesel retail price paying it anyway.” its Monroe Energy LLC subsidiary the exciting aspects of owning your own home. estimates for 2012. The DOE ex- Hooser said the timing can has an agreement to buy on oil Ray Brandon is a certified financial planner and pects on-highway gas prices, which mean a lot for owner-operators in refinery south of Philadelphia in a CEO of Brandon Financial Planning (www.bran- averaged $3.84 per gallon in 2011, trucking. move to affect its fuel costs. donplanning.com). His wife, Dana, has a bachelor’s to average $4.06 this year, a 9-cent “Sometimes with owner-opera- “That kind of shows you direc- degree in finance and is a licensed clinical social decline from earlier projections. tors – because we’re basing what we tionally where this thing is headed,” worker. Contact Ray Brandon at raybrandon@bran- The forecast for 2013 is even pay to them on the Department of Blankenship said. “We don’t hedge donplanning.com. better, with the DOE estimating that Energy – sometimes we don’t react our stuff. We don’t have that type of retail prices will decline to $4.03 fast enough,” she said. “That means leverage. I’m sure for large organiza- per gallon, or 8 cents lower than the they are paying out more and will tions that makes sense.” www.thememphisnews.com June 2-8, 2012 11

education Planning Commission: New School System Faces $89 Million Shortfall

BILL DRIES | The Memphis News

he gap between expenses and should those municipalities form their revenues for a countywide school own school systems. Richards said that Tsystem that debuts in August 2013 is because no one proposing a municipal is estimated at $89 million by the group school district has defined whether the that is planning what the school system school systems will include just children will look like and how it will operate. within the suburban towns and cities or The gap, which is a net amount of red whether it can take in students from other ink, is likely to change and become more areas who currently attend those schools. specific in the next month. The schools There is also the remaining uncertain- consolidation planning commission is ty about whether the municipal school

still on target to vote on a total draft plan Photo: Shutterstock districts would have to pay for existing for the consolidated school system at its school buildings within their boundaries. June 14 meeting. And planning com- Personnel committee chairwoman to the company that gets the contract to But the largest single amount in the mission chairwoman Barbara Prescott Christine Richards was among those run the buses for the school system. net figure is the $68 million in city of wants a plan that amounts to a recom- arguing for a set of recommendations and “If it weren’t for some of these other Memphis funding that the city is not obli- mendation for a balanced budget when then prioritizing them. But she said Lut- things that are really not merger-related gated to provide once the school systems the final plan is presented this summer trell was correct that it will not be easy. but are just related to the increased cost are merged starting with the 2013-2014 to the countywide school board and state “We’re going to have a hard conversa- of doing business, then we wouldn’t have school year. The merged school district education officials for their approval. tion with a lot of tradeoffs,” she said. “It is this gap,” Prescott said. will mean the loss of free water pro- “It is a difficult decision. There may be going to be uncomfortable.” The other expenses, which would vided by Memphis Light, Gas and Water some disagreement as to whether it is our The $89 million gap takes into ac- be happening even without a merger Division to what are now Memphis City obligation to present a balanced budget. I count $155 million in efficiencies the of Shelby County’s two public school Schools. That is a $700,000 a year expense personally think that we do have an obli- committee has identified that could be systems, include a cost-of-living adjust- the new school system will pick up. So gation to do that,” she said after the group built into the new school system such as ment mandated by the state that comes is $3.2 million from the loss of Memphis met May 24. “But I think we also have an a smaller central office and eliminating to $30 million, as well as the shift of state Police Department resource officers in obligation to express to the community some functions that are now duplicated funding that follows students attending MCS schools now. what we think the recommendations in the county’s two public school systems. charter schools as well as the state run “What’s going on here where prob- should be. Then we have to deal with the The big-ticket efficiencies are an esti- Achievement School District. ably one of the significant projects in realities of the losses in revenue and see mated $62 million from “rightsizing” the The ASD goes into operation in the the future of this region and now various how much further we can go.” school district, which includes a still ten- 2012-2013 school year, the last year of the entities are saying this is an opportunity Shelby County Mayor Mark Luttrell tative recommendation that the county- separate city and county school systems. for us to pull our support?” asked plan- has become increasingly hesitant and, as wide school board close 21 schools. The finance committee estimates ning commissioner John Smarrelli. “It’s a he said last week, “uncomfortable” mak- Another $66 million in savings would $31 million will go with 4,000 students frustrating comment where you think you ing tentative recommendations and then come from logistics recommendations, in charter schools. That does not include are doing something very, very well and later putting a price on them. including outsourcing some school func- an estimate of the number of students then all of a sudden everybody is taking “It sounds like there are still a lot of tions such as school busing and selling who would attend municipal school the opportunity to save costs at various moving parts to this,” he said. the bus fleet for an estimated $6 million districts in suburban towns and cities, levels.”

Grassroots Approach Takes Right Mindset, Skill Set

Part two of a three-part series We work with groups tion in which all board and in addition to their fiduciary responsibility, so they can create a staff are involved in rais- raising money for the group is an equally Fundraising for grassroots culture of fundrais- ing money for your group. important part of the job. organizations requires just as much skill, ing, where fundraising You also need to ensure “However, we acknowledge that not talent and planning as fundraising for responsibilities are that you have a diversified all board members have the same kind of other types of organizations. We asked shared across staff, income stream, with a access to financial resources or networks, Jennifer Emiko Boyden of the Grassroots and executive directors healthy balance of earned and we value the time, ideas, and other Institute for Fundraising Training (GIFT) and development di- MEL & Pearl shaw income, grassroots, and types of resources that board members about the skills required of executive rectors are not working FUNdraising institutional support. And have to offer.” directors and development directors and in isolation and have having some kind of da- The GIFT website (www.grassroots- fundraising planning. more sustainable workloads. Too often, tabase – even if it’s just an excel spread- fundraising.org) contains a wealth of “Executive directors and development these positions are on a direct path to sheet to start – is important to track gifts, information on grassroots fundraising directors need to have a strong vision burnout. With the average amount of time create thank you letters, and store other – for staff, board members and volun- for their work, the ability to build strong a fundraiser stays on the job being just important donor information.” teers, plus information on their upcoming relationships with their supporters and a 16 months, as a sector, we’re clearly not Board members also play a critical conference (Aug. 11-12 in Oakland, Calif.). keen sense for knowing how to energize a supporting our development staff in the role. We asked Boyden about the mindset fundraising team,” Boyden said. “Planning right ways.” a board member should have when it Mel and Pearl Shaw are the owners of skills and the ability to set realistic goals We couldn’t agree more. Fundraising comes to fundraising. Saad & Shaw. They help nonprofit organi- are also essential. is truly a shared responsibility; and one “Having good board members who zations and institutions rethink revenue “One important thing for executive that requires systems, policies and under- will follow through on their fundraising sources. They are the authors of “How directors and development directors to standings that support success. Boyden’s commitments seems to be a challenge for to Solicit a Gift: Turning Prospects into know is that they cannot, and should not, perspective is, “Put simply, you need a almost every grassroots group,” she said. Donors.” Visit them at www.saadandshaw. do all of the fundraising on their own. culture of fundraising at your organiza- “Board members need to understand that com or call 522-8727. 12 June 2-8, 2012 www.thememphisnews.com

What Would Small Business Spotlight Goethe Do? At 100, Semmes-Murphey If you take the time to read about the German writer, artist, biologist, physicist, and all-around highly productive guy Johann Wolfgang von Goethe, you will fi0nd that he Looks to Next Century accomplished quite a bit during his 80-plus years on the planet Earth. And since he lived AISLING MAKI | The Memphis News in the late 1700s and early 1800s, he did it all without a cell phone, iPad, Bluetooth, spell check or any of our modern technological conveniences and so-called necessities. He was the living embodiment of Larry the Cable guy’s famous saying, in that he could definitely “Get-R-Done” in his many fields of expertise. Speaking of chris cRouch famous sayings, SMART STUFF I believe one of 4 WORK Goethe’s famous sayings clearly articulates how and why he was able to accomplish so much during his lifetime. Here is the saying I am referring to: “Whatever you can do or dream, begin it. Boldness has genius, power and magic in it.” Under the heading of what we in the Certified Public Accounting profession used to refer to as adequate disclosure, this quote is frequently “attributed to” Goethe. According to some literary experts, he may or may not have actually said it. Even if he didn’t say it, it appears that he lived it. Anyhow, I was thinking of the alleged Goethe quote this weekend when I made a little trip to my attic. My wife and I have been talking about cleaning up the attic Photo: Lance Murphey for years. I looked around and came to the Angela Hudson, left, and Sheila Litten work around a CAT scan machine at Semmes-Murphey Neurologic & Spine Institute. realization that it was not going to somehow miraculously clean itself up. So I shifted into a WWGD mode of thinking and decided to tap emmes-Murphey Neurologic and and Le Bonheur with the kids is pretty future. We’re very fortunate in this com- into the boldness, genius and magic power Spine Institute this year celebrates innovative.” munity where we have multiple health Semmes-Murphey physicians made care systems with great facilities and of beginning. What little thing could we do Sa century of improving the quality of care for patients with neurological national news last year when they as- great staff.” that might be considered a good beginning and spine disorders. sisted in a 13-hour surgery to separate Lewis said Semmes-Murphey physi- to the clean up the attic project? I decided to The Memphis-based institute, conjoined twins born at Le Bonheur cians are very active on various hospital adopt the same advice I give to people when which today employs about 275 people Children’s Medical Center in Memphis. committees, where they’re involved they decide to clean up their workspace. I – including about 40 doctors – was “Their job was to separate the twins, in decisions such as the purchase of often advise them to being with a serious founded in 1912 by Dr. Eustace Semmes and anything that had to do with the new equipment. In keeping with Dr. throwaway session. I usually point out that and Dr. Francis Murphey. nervous system, they owned that part of Semmes’ vision of leadership in teach- it is irrational to try to organize things that “I never met Dr. Semmes, but I’ve the surgery,” Lewis said. ing and training, Semmes-Murphey you should not be keeping in the first place. read numerous articles about him and Technology has driven the develop- has always provided a chairman for the So, I decided that I would begin by throwing letters patients wrote years ago,” said ment of surgeries that are less invasive Dept. of Neurosurgery and neurology away as many things as possible. That was John Lewis, administrator and CEO and therefore less painful, involving at the University of Tennessee Health all I needed to do for now. In doing this, I of Semmes-Murphey. “He was a really shorter hospital stays or even outpatient Science Center in Memphis, which last somehow unleashed the magic power that well-respected surgeon. His focus and surgeries that allow patients to return year celebrated its centennial. Goethe was talking about. his passion was really patient-centered, home a few hours later. And Lewis said Semmes-Muyphey’s We definitely had a serious throwaway compassionate care. One of his big Lewis said Semmes-Murphey is director of complex spine surgery, session. As a matter of fact, it soon became missions – still a key mission of ours expanding its endovascular services to Dr. Kevin Foley, played an important fun. In no time, the throwaway session spread today – is teaching and training the next provide less-invasive, often outpatient role in the establishment of Memphis’ virally to other rooms in the house … and generation.” procedures to treat aneurisms and world-renowned Medical Education then to the garage … and then to the garage The institute provides expertise strokes. & Research Institute. MERI’s board storage room. And to now quote James in numerous areas, including brain “It used to be that if you had an an- of directors includes leaders from Brown, “I feel good, like I knew I would!” tumors; memory disorders; epilepsy; eurism, they would have to open your Semmes-Murphey Neurologic and It strikes me that Goethe’s advice is one aneurysms; strokes; migraines; multiple skull and clip the aneurism,” he said. Spine Institute, along with representa- of the best antidotes for procrastination. sclerosis; and Parkinson’s disease. “Now they can do it similar to the way tives from Baptist Memorial Health Care What can you do to get started on all those Lewis said some of Semmes- they do heart stents, going up the artery and Methodist-Le Bonheur Healthcare. postponed work projects? Think about the Murphey’s innovative work includes its in the leg … a less invasive way to do a Several years ago, Semmes-Murphey projects and say to yourself, WWGD? intra-operative brain tumor procedures fairly big surgery,” he said. Neurologic and Spine Institute estab- To borrow and slightly revise another and complex spine work for pediatric Semmes-Murphey has a long history lished the Semmes-Murphey Founda- phrase from Larry the Cable guy, “That-there patients. of collaborating with various health care tion to support research and training, is a good idea, I don’t care who you are!” “The stronger technology gets, the organizations in the Mid-South. which today reaches doctors across the Chris Crouch is CEO of DME Training and better the instrumentation available for “We’ve always been a community world. Dr. Kenan Arnautovic a native of Consulting and author of several books on us to do some of this complex work,” provider, and we’ve provided patient Sarajevo, Bosnia-Hercegovina, helped improving productivity. Contact him through said Lewis, adding that the institute care at most of the hospitals and health establish an exchange that sends doc- www.dmetraining.com. employs the Memphis area’s only four care facilities in the community,” Lewis tors to that region about twice a year pediatric neurosurgeons. “I think it’s fair said. “Our goal moving forward is to to train them in the latest techniques to say the work that we do at St. Jude continue to do that for the foreseeable being used in the United States. www.thememphisnews.com June 2-8, 2012 13

GOVERNMENT Auction to Raise County Trustee Lenoir Money for MALS Pitches Tax Collection ANDY MEEK | The Memphis News

emphis Area Legal Services Inc. is known Service to Memphis for the help it provides to people in need Mof legal services. But the organization itself could use some help of its own. ANDY MEEK | The Memphis News To combat a sharp decline in funding, the Memphis legal community is coming together to raise money via a silent auction for MALS. Alpha Reporting Corp. is leading an effort to use an on- ob Patterson, the county of- LLP, won a no-bid contract in 2004 countywide tax collector, the city line auction that opens Monday, June 4, and runs ficial known for his felt hats from former Memphis Mayor Willie could eliminate a $3 million plan to for two weeks – and includes two additional auc- Band folksy charm, repeat- Herenton to collect the city’s back upgrade technology to improve its tions in the near future – to bring in funds. edly gave it a try. taxes. collections process. Material being distributed to prospective After he died in 2008, Paul Mat- The trustees have written let- Lenoir first proposed collect- auction participants laments that “due to federal tila picked up the attempts where ters. They’ve made pitches to city ing delinquent taxes for the city in funding reductions, (MALS) has lost one-fourth of Patterson left off. So did Regina officials. Years ago, Patterson calmly January 2011. Since then, he has its staff and 15 percent of its budgeted income over Morrison Newman, who replaced dug into a handful of peanuts from been critical in broad terms of the the last couple of years, while calls for its services Mattila when he died in 2009. a dispenser on his desk as he de- city’s financial picture and with the have tripled.” Now current Shelby County scribed for The Daily News some of way city officials are addressing it. George "Buck" Lewis, a shareholder in the Trustee David Lenoir, like county his meetings with Herenton about “The ongoing budget issues Memphis office of Baker, Donelson, Bearman, trustees before him, also is giving the matter. for the city of Memphis make this Caldwell and Berkowitz PC who’s also a former it a try. The “it” is convincing the Herenton is on record as saying proposal more relevant than ever,” president of the Tennessee Bar Association, said city of Memphis to let the trustee’s the Linebarger arrangement has he said. MALS raised a record $350,000 last year from office collect current and back taxes been a net positive for the city. But The trustee’s office currently private donations – and still had to lay off staff be- from Memphis property owners. current city of Memphis attorney collects around $685 million in cause of congressional budget cuts that offset the The county trustee – who es- Herman Morris told The Daily property taxes. Linebarger has col- additional funding. sentially is the county’s banker by News the Wharton administration lected more than $182 million in The auction, which will be conducted by collecting taxes, managing invest- was already prepared to take a new back taxes from city residents since Walker Auctions, begins June 4 and closes June ments and performing financial look at the city’s arrangement with it was first hired to do so. 18. Details are available at alphareporting.com, projections, among many other Linebarger almost as soon as Whar- Linebarger on Feb. 1 filed a law- and all proceeds go to MALS. Donors are asked to tasks – already is collecting county ton took office. suit on behalf of the city in an effort contribute anything of value, with suggested items property taxes from those same The deal Lenoir has presented to move forward in collecting more running the gamut from auto services to oil paint- people. The attempt from each the city is to perform the service than $20 million in delinquent 2010 ings to theater tickets and pottery. trustee has basically been the same: at an annual fee of $1.25 million. taxes owed to the city. That repre- “As we all know, we can depend on the govern- to strike some sort of deal that According to his office, that would sented the ninth annual lawsuit the ment for just so much,” said Kathy May, owner of sends taxpayers to one place to pay provide savings for a city govern- law firm has filed on behalf of the Alpha Reporting Corp. “It’s our community and the everything. ment that’s currently budgeted $1.4 city. goodness of people that we are turning to for help The city is currently collecting million to collect those taxes. The law firm is jointly sponsor- during this time of need. The traditional way of some property taxes from city resi- “Now, more than ever, we need ing several area tax clinics through- doing something like this has been through phone dents in-house. Current taxes are to look at new collaborations that out this year, along with the city calls and contacts and things like that.” paid to the city treasurer’s office. make sense for taxpayers,” Lenoir treasurer’s office, to help Mem- The first auction will feature more than 100 An out-of-town law firm, Line- said. phians who are delinquent on their items. The second will occur sometime in July, with barger, Goggan, Blair & Sampson He believes that with one property taxes. the third auction happening in August. 14 June 2-8, 2012 www.thememphisnews.com

special coverage

special edition: THE BUSINESS OF HEALTH CARE medical realignment Hospitals scooping up private practices at rapid clip as health care reform looms

AISLING MAKI | The Memphis News six years, has been in physician manage- who will complement the ing at different rates,” said ment for 15 years and has managed and primary care doctors.” BMMG CEO Jim Boswell. administered more than 60 practices over Saint Francis now has Clinical “Memphis is certainly de- the course of his career. Prior to his admin- almost 40 employed doc- integration, veloping pretty fast.” rivate practice is fast be- istrative roles, Lachina spent 23 years as a tors and 10 practices, most In the Memphis met- coming a thing of the past, physician in private practice. of which joined its system a trend that ropolitan area, the acquisi- as physicians groups across Having seen so many changes in the over the last two years. began to tion of cardiology group the country scramble to health care industry from within, Lachina The physician makeup is practices propelled clinical align with large health care is always looking ahead, keeping tabs roughly 60 percent pri- accelerate integration into high gear, systems in a move largely on changing models, and he said Saint mary care and 40 percent roughly resulting in what seemed driven by national health Francis – itself part of Dallas-based Tenet specialty care. Lachina like an acquisitions race. Pcare reform. Healthcare Corp. – was an early adopter of said he expects to double two years In July 2010, Method- Rising costs, changes in reimburse- the integrated physician-hospital health the size of its physicians ago, shows ist Le Bonheur Healthcare ment, heightened accountability and an care model. group, Saint Francis Medi- partnered with Sutherland emphasis on patient outcomes are among Lachina said it was an independent cal Partners, within a year. no signs Cardiology Clinic, a regional the many factors contributing to the strategy that began in 2006, driven by Saint “Everybody is doing of slowing practice that came onboard structural organizing taking shape with Francis’ goal to expand the base of primary this, and we’re preparing with 17 board-certified physician-hospital alignments. care physicians who supported its Mem- for the future,” he said. down. physicians and offices in “The business model of the future is phis and Bartlett hospitals. “If we need to integrate Memphis, Dyersburg and physicians working for hospital systems,” “Even before the Affordable Care Act clinically, we need a strong Munford, Tenn., West Mem- said Dr. Michael Lachina, chief medical kicked in two years ago, we were on a track aligned physician base – phis, Ark., and Oxford, Miss. officer at Saint Francis Healthcare in Mem- to establish more primary care facilities mainly primary care, but The clinic retained its phis. “There are very few independent and providers in our service area,” Lachina also some specialists.” name and location at 7460 practices left.” said. “Health care reform just gave us Meanwhile, Baptist Me- Wolf River Blvd. Clinical integration, a trend that began kind of a different approach and reason morial Medical Group, a nonprofit medical Then in January 2011, BMMG an- to accelerate roughly two years ago, shows to continue to employ and align with our group foundation affiliated with Baptist nounced its partnership with Stern Cardio- no signs of slowing down. physicians. Everyone recognized clinical Memorial Health Care Corp., now includes vascular Center, one of the region’s largest Lachina said about 60 percent of physi- integration was going to be a key to being 350 providers in 41 different specialties, cardiology group practices. cian practices are now owned by hospitals, successful with health care reform. Clinical with 90 different offices in three states, “Legally it’s an acquisition, but BMMG up from 20 percent a decade ago. He said integration really kicked us into another clustered around Baptist’s 14 hospitals. thinks of it as a partnership,” Boswell said. that if clinical integration continues at the gear that was independent of our original BMMG’s first major early acquisition “The CEO of Stern (Debbie Eddlestone) current rate, 95 percent of practices will be strategy. We still have a strategy of re-build- was its early 2010 partnership with Jones- is still running the business, but she and I aligned with health care systems by 2020. ing a strong primary care base, but at the boro, Ark.-based NEA Clinic, the largest work closely together. It is part of Bap- Lachina, who has served as chief same time supplementing that employed physician group in Northeast Arkansas. tist, but it’s a separate legal entity within medical officer of Saint Francis for the past physician network with certain specialists “Markets around the country are align- Baptist.” www.thememphisnews.com June 2-8, 2012 15

special coverage

Stern continues to run its clinical, among the multiple models are employ- day-to-day operations and its cardiologists ment, directorships, co-management and continue to practice at other area hospi- joint ventures. tals. But Boswell said BMMG’s model, to “When Methodist did that with Suther- which he refers as “the foundation model,” land, it just kind of kicked Baptist and is built on the concept that physician Saint Francis both into a different gear to management experience is crucial to the compete with specialty practices,” Lachina success of clinical integration, which is said. why Baptist created a separate organiza- In January this year, Saint Francis tion to manage its physician groups. opened Thoracic and Cardiovascular Sur- “Within our system, we have a com- gery Associates, located on the hospital’s plete, separate physician enterprise,” East Memphis campus, with two on-site Boswell said. “BMMG is separate and that’s surgeons and a third stationed in Bartlett. important because the physician business And Saint Francis recently acquired is different than the hospital business. a small group, Cardiology Associated of That’s not the way it is everywhere, and Memphis, whose official integration date quite frankly, that’s one of the problems.” is June 11. The size of that practice is ex- Boswell said Baptist offers the best of pected to increase in the coming months. both worlds, giving physicians the security Oncology seems to be the latest area of of being employed by Baptist – decreasing health care targeted for clinical integration risks and giving them access to capital for in the Memphis market. growth and assisting them in expansion Methodist Le Bonheur Healthcare late and recruitment – while allowing doctors last year unveiled its partnership with The to maintain a seat at the table in terms of West Clinic, a local leader in oncology care, strategy. in a big way, bringing Academy Award- “The physicians want to know how winning actor Michael Douglas to Mem- we’re going to assist them in their practice, phis in November to discuss own his battle but they don’t want us to just come in and with cancer during the system’s annual take it over and disrupt what took them 30 luncheon at The Peabody hotel. years to build,” Boswell said. The partnership’s aim was to create a While it would seem that hospitals are comprehensive, fully integrated cancer leading the acceleration of clinical integra- service in the area. The West Clinic’s CEO tion, both Boswell and Lachina say physi- Erich Mounce has maintained his position cians are consistently knocking on hospital while taking responsibility for Methodist’s doors, seeking employment. cancer service line, reporting directly to “The speed of physician employment Methodist Healthcare CEO Gary Shorb. will continue to accelerate,” Lachina said. Meanwhile, BMMG late last year “The crunch time for doctors is around acquired multiple oncology practices, in- 2015 because the reimbursement models, cluding Boston Baskin Cancer Group, with particularly with Medicare, will change a plan for all cancer providers to provide pretty drastically. If doctors haven’t made services throughout the Mid-South, as well a decision by then about whether they as work in the new, comprehensive, $65 should align – if they haven’t done their

Photo: Lance Murphey million integrated cancer center Baptist is homework – they’re going to be very chal- building in the Wolf River medical corridor. lenged to make ends meet.” TOP: Methodist Le Bonheur Healthcare partnered with Sutherland Cardiology Clinic. MIDDLE: Dr. Steven Gubin sees patient Ed Garavelli at Stern Cardiovascular Center, Throughout this clinical integration Boswell said one of the benefits of which has become part of Baptist Memorial Health Care. process, no clear, single model of physi- ABOVE: Methodist late last year unveiled its partnership with The West Clinic. cians-hospital alignment has emerged; INTEGRATION, CONTINUED ON PAGE 21 16 June 2-8, 2012 www.thememphisnews.com

special EDITION: THE BUSINESS OF HEALTH CARE Report Finds Patients Receive Appropriate Care Montoya Speech Highlights

AISLING MAKI | The Memphis News Biotech Trade Opportunities

AISLING MAKI | The Memphis News industry in the Memphis region through education, new report released by Healthy Memphis Common advocacy and professional networking. Table (HMCT) – a nonprofit health care network of “One of the goals of Memphis in May, outside Amore than 200 community partners focused on im- of the entertainment offerings, is to create a profes- proving regional health care – found an overall improvement ith an emerging economy and expanding sional business exchange. We’re proud to be able to in the percentage of patients receiving recommended health middle class, the Philippines – the hon- play our part in that exchange with the Philippines care in Memphis and Shelby County. Wored nation of this year’s Memphis in May by hosting Dr. Montoya.” HMCT’s new data is available on The Health Care Quality International Festival – is experiencing a growing A member of the Country Coordinating Mecha- Matters website, www.healthcarequalitymatters.org, provid- demand for biotechnology products. nism for the Global fund for AIDS, TB and malaria, ing patients with access to current information about the care That demand is creating business opportunities Montoya also formed the Association of Southeast they should be receiving and the doctors who are available to for Mid-South life science companies seeking a mar- Asian Nations’ (ASEAN) Network for Drugs, Diagnos- provide the recommended care. ket presence in the Southeast Asian country known tics and Vaccines Innovation, and serves as the Phil- “Patients need to be both educated and engaged with as the “Pearl of the Orient.” ippines’ focal person for biotechnology for ASEAN. their health care,” said Reneé Frazier, HMCT CEO. “We’re “The Asia-Pacific is expected to become a major Like other developing nations, the Philippines excited to provide patients with the information they need to destination for stem cell research and biogenetic face a host of serious health care challenges, includ- help them get the best health care possible.” manufacturing,” said Dr. Jaime Montoya, execu- ing growing instances of communicable and chronic The report focuses on the quality of care Memphis area tive director of the Philippine Council for Health diseases. But Montoya said the keys to treating hospitals and medical practices are providing patients with Research and Development. illness and pain could potentially lie in the rich ma- care for diabetes, heart disease, women’s care and pediatric Montoya is an internationally recognized leader rine biodiversity surrounding the more than 7,100 care. This year’s report added new measures to women’s and in the fields of infectious disease and public health. islands that make up the Philippines. children’s care, as well as new data on heart disease care, in- He addressed members of Memphis’ health care, Montoya said scientists with the Philippine cluding LDL screenings and the use of beta blocker treatment business and government sectors Friday, May 18, PharmaSeas Drug Discovery Program are currently after heart attacks. as the featured speaker at a breakfast co-hosted by “mining the seas for possible drug candidates,” to Along with performance reports, users can view medical Memphis Bioworks Business Association, Greater treat pain and infection. Other areas of life science office profiles with each office’s website and contact informa- Memphis Chamber and Memphis in May. research in the Philippines currently include genom- tion, and compare year-over-year data for each office. This The event, held at the University Club, 1346 ics studies to determine the population’s genetic year’s report includes performance information on 139 doc- Central Ave., was one of several business exchange susceptibility to diseases and oncology research that tors’ offices, which is a 12 percent increase from 122 practices activities between Memphis and the Philippines as- utilizes antibody technology sourced from the na- last year. The site also includes a secure online portal for par- sociated with Memphis in May. tion’s diverse marine and terrestrial resources. ticipating doctors that allows them to access the reports and Montoya, who also is a professor of Infectious Montoya said the Philippines’ core strategy compare their performance with those of other physicians. Disease at the University of the Philippines College for tackling his nation’s health issues and meeting Healthy Memphis Common Table says the ability to of Medicine, has extensive experience in implement- its growing demand for health care products is to compare performances encourages improvement and allows ing programs to control the spread of tuberculosis increase public-private partnerships, which is where greater transparency for both doctors and patients. and other emerging infections, including the 2003 opportunities for Memphis’ bioscience industry lie. “When doctors see how well they perform compared to SARS epidemic. “I’d like to thank you all for giving me this won- others in the area, they can target areas for improvement,” “Infectious disease is one of the medical arenas derful opportunity to talk to you today,” Montoya Frazier said. “When patients have access to reliable informa- in which Memphis is making a meaningful and last- told the crowd. “I hope I was able to stimulate you to tion about the kind of care being provided, they can make ing scientific mark,” said Regina Whitley, executive show interest in the booming life sciences sector in more informed decisions about where to go for their care. director of the Memphis Bioworks Business As- the Philippines. ‘Maraming salamat po’ (thank you This can help produce better care and healthier patients.” sociation, which works to advance the bioscience very much).” www.thememphisnews.com June 2-8, 2012 17

special EDITION: THE BUSINESS OF HEALTH CARE Medtronic Earnings Up in Q4 But Spinal Business Drops

AISLING MAKI | The Memphis News

edtronic Inc. ended its 2012 The Associated Press on May 16 studies of the product. million to resolve a federal class-action fiscal year with a strong fourth reported federal prosecutors had closed InFuse is approved for use in spinal, lawsuit brought by a shareholder, the Mquarter, driven by continued their investigation of Medtronic’s InFuse oral and dental graft procedures, but Minneapolis Firefighters Relief Associa- emerging market growth and strong U.S. bone graft, which had brought in most of most of the time it was used in neck tion, which alleged Medtronic did not sales of the company’s Resolute Integrity Medtronic’s spinal business revenue. surgeries and other procedures. Use of disclose how much of the company’s rev- drug-eluting stent and RestoreSensor In June, a medical journal alleged InFuse in neck surgeries can lead to prob- enue from InFuse came from uses not ap- spinal cord stimulator. Medtronic had downplayed the risk of the lems swallowing, breathing and speaking. proved by regulators, did not disclose side The Minneapolis-based company’s product – which contains a genetically Doctors are permitted to use drugs effects patients were suffering, and did Spinal & Biologics Business is based at engineered protein that can stimulate and medical products off-label as they see not disclose what the plaintiffs described 1800 Pyramid Place in Memphis. bone growth. It also said the company fit, but companies are not permitted to as illegal marketing. Medtronic Tuesday, May 22, reported failed to disclose millions of dollars in market their products for off-label uses. Medtronic said it did not make any its Q4 spine revenue declined overall but payments to the authors who wrote initial Medtronic in March agreed to pay $85 misrepresentation. improved internationally. Medtronic said the company’s overall revenue increased 4 percent to $4.297 bil- lion in Q4, compared to $4.167 billion in Do you have the tools to sustain Q4 2011. Its Q4 net earnings were $991 million, cultural change in an environment or $0.94 per diluted share, an increase of 28 percent increase over the same period moving to clinical integration? last year. For the fiscal year ended April 27, Have you explored alternative Medtronic’s revenue was $16.184 billion, strategies in this new era of an increase of 3 percent on a constant currency basis, after adjusting for a $273 mergers and acquisitions? Do million positive foreign currency impact or 4 percent as reported. you know your organization’s As reported, fiscal year 2012 net opportunities for improvements earnings were $3.617 billion, or $3.41 per diluted share, an increase of 17 percent in workflow design for greater and 19 percent, respectively. Fiscal year 2012 international rev- efficiencies? Not really sure? enue of $7.356 billion grew 7 percent on a constant currency basis, or 11 percent as reported, with international sales account- ing for 46 percent of Medtronic’s world- wide revenue in the last quarter. Emerging market revenue of $463 mil- lion increased 20 percent on a constant currency basis, or 19 percent as reported – now representing 11 percent of company revenue. “I am pleased with our improved revenue growth this quarter in a dynamic healthcare environment,” Medtronic chairman and CEO Omar Ishrak said in a statement. “Our growth was broad-based across our businesses and geographies, including strong U.S. launches of the Resolute Integrity drug-eluting stent and RestoreSensor spinal cord stimulator and ASK HORNE strong growth in emerging markets. As we As one of the largest accounting and business advisory firms continue to focus on innovation, global- ization, and execution, I see many oppor- in the nation dedicated to the health care industry, HORNE tunities for improved growth.” provides comprehensive services for hospitals, health Medtronic’s spine revenue, however, systems and physician practices. HORNE’s health care ZZZKRUQHOOSFRP decreased 7 percent to $818 million. The accounting and business advisory team can guide you  spine business fared better in the inter- through the difficulties associated with health care reform national market, where sales increased 8 including the effects on reimbursement, coding and percent on a constant currency basis. Taking a closer look at the company’s electronic health records, clinical integration, health care Memphis-based Spinal & Biologics busi- taxes, delivery model improvements and more. ness, Medtronic’s $629 million Core Spine revenue – which includes core metal For more information on HORNE’s health care services, constructs, interspinous process decom- contact Partner Katherine Watts, CPA, CHC, at pression devices, and balloon kyphoplasty [email protected]. products – declined 3 percent on a con- stant currency basis. Biologics revenue of $189 million de- clined 16 percent on a constant currency ALABAMA | LOUISIANA | MISSISSIPPI | TENNESSEE | TEXAS basis, driven by declines in U.S. sales of the 1715 AARON BRENNER DRIVE, SUITE 300, MEMPHIS, TN 38120 company’s InFuse product, and partially © 2012 HORNE LLP offset by revenue growth in Other Biolog- ics. 18 June 2-8, 2012 www.thememphisnews.com

special EDITION: THE BUSINESS OF HEALTH CARE Diversification Keeps Barnett Group Thriving

AISLING MAKI | The Memphis News

ince its establishment 25 years But the company also provides ser- clients from many sectors, but Chauhan ago, The Barnett Group has grown vices such as retirement planning. said it has a particular strength for serving Sto provide benefits for more than “A lot of times a company may use an the health care sector. The firm’s clients in- 54,000 individuals and has affiliations insurance broker and then use someone clude more than 200 physicians’ practices. with more than 50 insurance carriers and different for a 401(k) plan,” Chauhan said. “We certainly don’t limit our market to third-party administrators, enabling the “It’s important for us as we’re building our any one sector, but we have built a niche company to offer clients a broad array of We certainly don’t limit our brand to let everybody know that we do it in the medical marketplace,” Chauhan benefit plans. market to any one sector, all. And it’s not just about going out and said. “We’ve done that pretty successfully.” In 1987, after a successful stint at but we have built a niche in getting more business. It’s about working And even if a client is not involved in International Harvester where he was a the medical marketplace. together. To be able to know the entire the health care sector, keeping up with district sales manager, Ed Barnett founded We’ve done that pretty scope for a benefits package, from the em- the provisions of health care reform is an Barnett Benefits, which evolved into The ployer standpoint, I think gives us a little issue at the forefront of many employers’ Barnett Group. successfully.”“ bit of an advantage out there.” minds. The business, at 7906 Players Forest Chirag Chauhan Chauhan said companies want to offer “With a lot of the uncertainty, and all Drive in Memphis, today employs almost Partner and director of financial services, competitive benefits packages that will the rules and regulations coming down The Barnett Group a dozen employee benefits and financial help attract, retain and recruit talent. the pike, it makes it harder for businesses services specialists. “Therein, those benefit packages help to plan,” Chauhan said. “What is the Barnett serves as president, leading as well.” the people who end up working for those impact going to be? How do you quantify the firm’s employees and overseeing day- The company’s areas of expertise companies, to prepare for their personal the impact? People look to us for answers to-day operations. include the design, implementation future,” he said. “That leads over into the from us about where we think it’s going “Like any small-business owner, I and administration of employee benefit individual side of financial planning and based on what we’re hearing and seeing in think Ed’s proud of what he’s built,” said programs and financial services for both management – helping people manage the marketplace. It’s an interesting time. Chirag Chauhan, partner and director of business and individuals. their individual households as opposed to People in business look for certainty and financial services at The Barnett Group. The Barnett Group’s services for a company. It all overlaps; you can’t think this issue is providing some uncertainty.” “We like to think that we’re on the fore- employers include medical, dental and of one or the other in a vacuum.” Chauhan said with the plethora of front of market trends and things like that. vision benefits, life insurance, disability The Barnett Group also offers personal information available on the Internet, The I think we’ve got broad-based diversi- and long-term care benefits, and a host financial management, retirement and Barnett Group is helping clients “filter out fication under our roof, not only doing of voluntary protection policies for their estate planning. all the noise and focus on the things that employee benefits, but financial services, employees. The company serves a broad base of truly are the issues.”

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special EDITION: THE BUSINESS OF HEALTH CARE Saint Francis Unveils Rebranded Heart Center

AISLING MAKI | The Memphis News

o reflect its comprehensive line of which would include things like abdomi- services, the former Cardiac Care nal aortic aneurisms, which we now treat TCenter at Saint Francis Hospital- mostly with stent grafts in a minimally Memphis has been renamed The Heart & invasive process.” Photo: Lance Murphey Vascular Center. The center several years ago was Heidi Brandam, left, and Beth Nelson prepare a Cardiac Cath Lab in the recently re- “We changed the name to encompass remodeled and refurbished to give it a named Heart & Vascular Center at Saint Francis Hospital-Memphis, 5959 Park Ave. the full range of cardiac and vascular care more streamlined, modern appearance. In that’s available here at Saint Francis,” said alignment with its rebranding efforts, the Blatchford said he was attracted to “the support to its fast-growing sister hospital, Michelle Britton, director of the Heart & facility also recently updated some of its fact that Saint Francis was making a big Saint Francis Hospital-Bartlett, which has Vascular Center. “We really wanted the technology. commitment to hire surgeons and new seen a record numbers of patients after name to fully reflect what we can offer Those additions included the installa- cardiologists. I had the sense that in the unveiling its $34 million, 83,000-square- here at Saint Francis for our patients.” tion of a brand new peripheral catheteriza- past Saint Francis probably did a lot more foot expansion in March. Services offered include open-heart tion laboratory, “so we can expand our vas- cardiac surgery and they felt like this was Around the same time, Saint Francis surgery; a chest pain emergency cen- cular capabilities and imaging to employ perhaps slipping away,” he said. “And they Hospital-Memphis experienced a mile- ter; cardiac intensive care unit; cardiac the latest technology and advancements were making a big commitment to sort of stone of its own when it began using rehabilitation; and a variety of diagnostic for both cardiac and vascular patient care,” regain a market share and a commitment Medtronic’s Resolute Integrity Drug- services such as angiography. Britton said. to maintaining excellence in that area.” Eluting Stent, approved to treat a range “In addition to just cardiovascu- Saint Francis also hired two new spe- Blatchford said the facility has also of patients with coronary artery disease, lar surgery, which most people would cialty trained cardiovascular surgeons: Dr. hired two new interventional cardiologists, including diabetes. understand to be heart surgery, that also G. Phillip Schoettle Jr. and Blatchford. who will “markedly expand the number “And one thing we’re kind of tooting involves surgery of the aorta in the chest, “We do have highly qualified top physi- of cardiologists who are here at Saint our horn about is that we were the first aneurisms, aortic defections – that sort of cians from all over the metro area that Francis.” The Heart & Vascular Center, on hospital in the state of Tennessee and one thing,” said Dr. James Blatchford, a cardiac practice here to provide that quality care Saint Francis Hospital-Memphis’ 42-acre of the first few in the nation to actually im- surgeon at The Heart & Valve Center. “It to our patients, as well as highly qualified campus at 5959 Park Ave. in East Memphis, plant the new Medtronic stent that came also involves peripheral vascular surgery, staff,” Britton said. is also providing backup cardiac surgical on the market,” Britton said.

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special EDITION: THE BUSINESS OF HEALTH CARE Memphis-Based MRI Interventions Goes Public

AISLING MAKI | The Memphis News reason. It’s a business-friendly environ- mally invasive brain surgeries,” Jenkins ment and it’s one that’s generated a lot of said. “This is a functionality that’s not been successes over the years for a lot of other available prior to our ClearPoint system.” companies and we hope it does the same MRI Interventions is also making for us.” progress internationally. Late last year, the Over-the-counter shares of the medical device company In May 2011, the company changed its company completed its first installation name to MRI Interventions from SurgiVi- in Europe and expects to open additional being traded under the symbol MRIC sion to “better reflect the business and ClearPoint sites on the continent over what our product does,” Jenkins said. the coming quarters. Jenkins said he also his week marked a milestone for decided now is the right time to become a MRI Interventions’ ClearPoint systems anticipates the company will expand into Memphis-based MRI Interventions publicly traded company. It gives us an op- are commercially available, and the com- emerging markets in the coming years. TInc., which began trading as a pub- portunity to tell a broader audience about pany said the products are being installed MRI Interventions also has a cardiac lic company May 21. our company, our products, and what at a growing number of hospitals, includ- product called ClearTrace currently in The medical device business, whose we’re doing in the industry.” ing leading neurosurgical centers across development, in partnership with Siemens mission is to create innovative platforms The company, which stemmed from the country. Healthcare. Jenkins said it’s one of three for performing the next generation of work done at Johns-Hopkins, was founded ClearPoint sites currently include current corporate partnerships for MRI minimally invasive surgical procedures for in 1998 in Baltimore as SurgiVision. UCSF Medical Center; Emory Healthcare; Interventions, which has partnered with the brain and heart, employs 20 people, “The company’s scientific founders Memorial Sloan Kettering Cancer Center; Brainlab for its ClearPoint system, and including four at its Memphis corporate include guys like Dr. Paul Bottomley, who the National Institutes of Health; and Uni- with Boston Scientific to incorporate its headquarters at One Commerce Square. was one of the principal architects of the versity of Pittsburg Medical Center. MRI-safety technologies into that com- Over-the-counter shares are being clinical MRI scanner,” Jenkins said. ClearPoint Neuro Intervention System pany’s implantable leads for cardiac and traded under symbol MRIC. In 2008, the company formally moved in March was featured on the cover of the neurological applications. The majority of workers are based at its headquarters to Memphis with the help “Journal of Operative Neurosurgery,” a “There are more than 2.2 million late- the company’s Irvine, Calif., facility, which of Jenkins, a lawyer by training who’s been peer-reviewed journal for neurosurgeons. stage neuro-patients in the United States focuses on research and development and involved in various aspects of growth-stage Neurosurgeons are using the system as who can benefit from minimally invasive manufacturing and distribution. companies for most of his career. a minimally invasive neurosurgical plat- neuro-therapies,” Jenkins said. “Right now, “The business has been growing,” said “I’m a big fan of Memphis,” said Jen- form in their treatment of patients suffer- the alternatives available for those patients company CEO Kimble Jenkins. “Our prod- kins, who has served as MRI Intervention’s ing from a range of neurological diseases, are very limited. We think we can dramati- ucts have been doing well. The technology, CEO since 2008 but has been involved with including Parkinson’s disease, dystonia, cally improve the therapy options for that we believe, is industry changing. We’ve the company on a part-time basis since brain tumors, epilepsy and Tourette’s large patient population by making our got a nice broad reach with our product 2003. “I grew up in Memphis, went away to syndrome. product more widely available. It’s that now with installations in the U.S. and school and came back to Memphis. I think “The key to our ClearPoint platform need that’s driving our business, and we now moving into Europe. When you look this city is a great environment for growing is that we enable neurosurgeons to see expect it to drive very meaningful growth at those growth trends operationally, we things, and we’re happy to be here for that inside the brain in real-time during mini- in our business for the future.”

PATHOLOGY GROUP OF THE MIDSOUTH www.thememphisnews.com June 2-8, 2012 21

special EDITION: THE BUSINESS OF HEALTH CARE Steiner, GTx Inc. Prepare For Company’s Next Step of Journey

AISLING MAKI | The Memphis News

r. Mitchell Steiner recently which employs about 90 people in Mem- After establishing GTx, the pair was returned from a trip to Eastern phis, could expand to a nearly 300-person approached by AutoZone Inc. founder DEurope, where he visited hospitals company, producing novel, selective small J.R. “Pitt Hyde,” Steiner’s former patient, participating in international clinical trials molecules targeting established hormone asking how he could help support the for the drug enobosarm, which is being pathways to prevent and treat cancer, fledgling company. Hyde had previously made a $1 million developed by his Memphis-based public bone loss, muscle loss and other serious Oncology is what I would biopharmaceutical company GTx Inc. medical conditions. research donation to Steiner’s laboratory Enobosarm was created for the preven- That would be a boon for GTx, one of call the uncharted frontier. at UTHSC, which had funded the develop- tion and treatment of muscle wasting in 13 Memphis-based public companies, and If that natural consequence ment of some of GTx’s original technology. patients with non-small cell lung cancer, for its founder, who always knew without a of aging is unfortunately “We consider him sort of the third and Steiner said he is pleased so far with doubt that he’d pursue medicine, saying he being around long enough founder because he came in early and has been a guiding force in the company,” the drug’s progress. “never even thought of anything else,” and with all these carcinogens “It went well,” Steiner, CEO and vice “that’s what I excelled at in school, as well.” “ Steiner said. chairman of the company’s board, said of Steiner left his native New York to that you’re going to start In 2004, GTx became a public compa- the trials. “And what I learned very quickly study at Vanderbilt University in Nashville. to develop cancer because ny, enabling it to acquire access to public is that lung cancer is unfortunately very After graduating in 1982 with a degree in your DNA is unstable, then capital. prevalent in those countries. … We wanted molecular biology, he came to Memphis that’s what we need to be “That’s the cheapest form of capital,” Steiner said. “And the other reason you do to make sure we felt good about those to study medicine at the University of Ten- focusing on.” clinical sites and more importantly get to nessee Health Science Center College of that is because you want to have the ability meet the people who’ll be involved in this Medicine, graduating in 1986. Dr. Mitchell Steiner to raise more money as you go forward, trial.” He then left Memphis to serve his CEO and vice chairman, GTx and it helps when your company can be Malignancy causes patients to lose residency in general surgery and urology valued in the public market. It allowed us muscle over fat, resulting in extreme weak- at Johns Hopkins University and James to have more options for financing going ness and fatigue. Steiner says patients who Buchanan Brady Urologic Institute, later and director of Urologic Oncology, and forward than we would if we were private.” experience less muscle wasting are likely returning to Tennessee to teach and con- was named the Mark S. Soloway Professor Steiner chose to keep GTx in Memphis to live longer. duct cancer research at Vanderbilt’s School of Urology, Chair of Excellence. He served largely because of the city’s resources “This drug is geared toward building of Medicine. as professor and chairman of the Depart- around discovery. muscle to address physical function,” he “Oncology is what I would call the ment of Urology from 1999 until 2003. “What builds good biopharmaceutical said. “In addition to fighting the cancer uncharted frontier,” Steiner said. “If that Steiner said he went from being a companies are the products, which come with chemotherapy, you’ve got to do some- natural consequence of aging is unfortu- surgeon to developing drugs because he from discovery,” he said. “There’s a medi- thing for the host so that they’re stronger nately being around long enough with all believes surgery will become increasingly cal school and St. Jude Children’s Research and they can withstand the chemotherapy these carcinogens that you’re going to start rare as drugs improve. Hospital providing the raw discovery, but and do the things they want to do each to develop cancer because your DNA is So in 1997, Steiner and businessman there’s no outlet for the commercialization day, so when the cancer’s under control unstable, then that’s what we need to be Marc Hanover co-founded GTx. of that discovery.” they can have a better quality of life.” focusing on.” “I’m the scientist and he’s the business Consequently, he said, when discover- If the trials prove successful and Steiner in 1995 returned to Memphis, guy,” Steiner said of Hanover, who today ies have been made, they’ve often been enobosarm goes to market, GTx could joining the UTHSC faculty as associate serves as president and chief operating taken elsewhere in the country to be potentially triple its size. The company, professor of Urology and Pharmacology officer of the company. developed.

Memphis-area hospitals, private practices discover benefits of alliances

INTEGRATION, CONTINUED FROM PAGE 15 appropriate site, by a group of health practices continued to lag behind. Oct. 1, “But what offsets all of those chal- care professionals who are on the same 2012, the federal government will begin lenges is having all the doctors coming clinical integration is that it attracts young team, so to speak, proactively manag- regulating the electronic exchange of together under the same system,” Boswell talented physicians. ing chronic illness as opposed to treating health information in an aim to cut costs, said. “The older generation would be very episodic illness. In addition, the transition reduce administrative burdens, standard- The federal government plans to con- willing to come out of training, hang a to electronic health records is intended to ize billing and reduce medical errors – tinue to roll out provisions of the Afford- shingle up and go into private practice,” ease access to services and lower the cost requirements that Boswell said have been able Care Act through 2014 and beyond. Boswell said. “The newer generation is of clinical care by avoiding the duplication another driver behind clinical integration. The Supreme Court is expected to rule more interested in having the security and of services. “There are incentives today, and in the later this month on the fate of Health Care stability of a large organization. We’ve seen The 2009 American Reinvestment and future there will be penalties,” he said. “It’s Reform, and while the outcome could significant results in recruiting doctors for Recovery Act allocated just less than $25 a very expensive, difficult process. We’re influence the payment model, the clinical these practices that we’ve brought in. It’s billion for health information technol- able to bring the resources to these prac- integration model itself will continue to a huge value that we’re able to provide for ogy investment, including incentives for tices that are ready to convert to electronic gain ground. the community and for these doctors.” providers to implement and use electronic medical records. “ “Most hospital leaders feel like, regard- And for the patient, physician-hospital medical records. The act sent health care Although the benefits of clinical less of the decision, health care reform is alignments are intended to result in better providers racing to ensure that their IT in- integration are numerous, it doesn’t come already in motion, needed and long over- care by standardizing quality, significantly frastructure is solid and electronic health without its challenges. Some doctors fear due,” Lachina said. “Many of the things reducing clinical variation, and rewarding records (EHR) are ready. being stripped of their autonomy, while in the law, whether or not it’s repealed, physicians based on outcomes and not And while larger medical facilities and others coming from private practice may are good. We’re going to try to implement patient volumes. groups charged full speed ahead in adopt- struggle to adapt to the common culture of many of these changes with or without the Patients will be treated at the most ing EHR technology, smaller physician the larger organization. law.” 22 June 2-8, 2012 www.thememphisnews.com

special EDITION: THE BUSINESS OF HEALTH CARE UTHSC Prof. Earns $1.5M Research Grant

AISLING MAKI | The Memphis News

r. Gabor Tigyi of the University About 10 years ago, several faculty of Tennessee Health Science Cen- Money will help Dr. Gabor Tigyi develop a new class of drugs members believed they had made a Dter has received a $1.5 million that could control the spread of cancers significant discovery: a viable compound grant from the National Cancer Institute, that protects cells from damage after a subsidiary of the National Institutes radiation exposure. of Health, for research to develop a new Axis,” which will be conducted over a five- of unintended radiation exposure, such As a result of that discovery, several class of drugs that could control the year period. as a nuclear power plant explosion. of the inventors decided to form RxBio spread of cancers by inhibiting a key The research undertaken by Tigyi The compound, a subcutaneous Inc. to further develop their intellectual enzyme involved in metastasis. and his team centers on developing a injection that can be self-administered up property. NIH, the nation’s primary federal new class of drugs to control the spread to 72 hours after exposure to radiation, The compound Rx100 has received health agency of cancers by inhibiting autotaxin, a key has a long shelf life and can be adminis- funding from the Department of Defense for biomedi- enzyme involved in metastasis. tered to individuals of all ages, including and the Biomedical Advanced Research cal research, The project grew out of a decade-long infants and the elderly. and Development Authority in excess conducts collaboration between Tigyi’s labora- According to the U.S. Department of of $25 million for development for use and supports tory in the Department of Physiology Health and Human Services, preliminary against higher levels of radiation that af- basic, clinical at UTHSC College of Medicine and the data suggest that the small molecule “can fect the gastrointestinal tract. and transla- laboratories of Dr. Duane D. Miller, chair protect or mitigate injury and improve BARDA provides an integrated, tional medi- of the Department of Pharmaceutical survival if administered up to 72 hours systematic approach to the development cal research, and investigates the causes, Sciences at UTHSC College of Pharmacy, after deadly whole-body radiation expo- and purchase of vaccines, drugs, thera- treatments and cures for both common and Dr. Abby L. Parrill, professor and sure.” pies and diagnostic tools for public health and rare diseases. chair of the Department of Chemistry at The drug has entered the U.S. Food medical emergencies. Tigyi is the Harriet S. Van Vleet Chair the University of Memphis. and Drug Administration’s regulatory Further development of the Rx100 will in Oncology Research and professor and Including this grant, this project has pipeline. It could be the first such drug rely heavily on use of facilities located chair of the Department of Physiology at received 15 years of funding. approved by the FDA. within UTHSC, including its Regional UTHSC. A significant outcome of the project UTHSC has licensed Rx100 to Rx- Biocontainment Laboratory, a specially The award will fund his ongoing has been a promising drug candidate Bio Inc., a biopharmaceutical company constructed facility dedicated to biomed- cancer study titled, “Anticancer Strategies called Rx100, a potent drug that may pro- formed around technology developed at ical and biodefense research. Targeting the Autotaxin-LPA Receptor tect against the potentially lethal effects UTHSC.

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special EDITION: THE BUSINESS OF HEALTH CARE Seminar Looks at Impact of Health Care Changes on Horizon

AISLING MAKI | The Memphis News

s the nation awaits the U.S. Su- important because there are so many begin with.” tion. That’s really the unsolved piece of this preme Court’s June decision on the portions of the act that have nothing to As a physician who employs and man- – can we really afford it and can this really AAffordable Care Act, local experts do with the individual mandate,” she said, ages other physicians, Lachina brings to work? We all know that costs seem to be weighed in at The Daily News Health referring to the Supreme Court’s pend- the discussion how health care reform is much higher than originally projected.” Care Reform Seminar, held recently at the ing ruling. “Like many acts that Congress impacting the patient and the market- Horne LLP and Rainey Kizer Reviere & Memphis Brooks Museum of Art. puts into place, they just put a compila- place. Bell PLC sponsored the event. The conversation covered a wide tion of a whole bunch of different things “There are components that I think will The next Daily News seminar, Money range of topics, including rising health that are maybe related or unrelated into improve health care, the delivery of health & Markets, will take place at the Memphis care costs, public exchanges, increased one Affordable Care Act. If they strike the care and the quality,” Lachina said. “All of Brooks Museum of Art on June 7, followed Medicare enrollment, and whether the whole act, what I think will happen is that those things are imbedded in the act. But I by Sustainable Energy on Aug. 2, Business Affordable Care Act’s individual mandate Congress will go back and re-enact the think the way we’re going to pay for health of Health Care on Sept. 20, and Commer- requiring all Americans to purchase health provisions that were never controversial to care is what has received so much atten- cial Real Estate on Nov. 1. insurance coverage will be struck down by the Supreme Court. The seminar’s keynote speaker was Greg Anderson, a certified public accoun- tant and partner in the health care practice group at Horne LLP, who’s preparing to publish a book on health care reform. Anderson concentrates his practice in consulting on income distribution plans for physician group practices. He also conducts design, implementation and fair market value studies related to hospital and physician employment, and analyzes the valuation of health care facilities. He spoke in some detail about the similarities between Republican presi- dential candidate Mitt Romney’s and President Barack Obama’s plans, both of which include the controversial individual mandate. “The health care reform statute that his would-be opponent in this year’s campaign signed into law, Mr. Romney said is not the right model for every state,” Anderson said. “In fact, he’s calling it an unfolding disaster. We have to see how this is going to work out in the long run.” The panel discussed the new rules and regulations taking effect under the Afford- able Care Act, the impact of current leg- islation and what additional changes are expected between now and 2014, a pivotal year for the implementation of health care reform provisions because that’s when the individual mandate and employer penal- ties are scheduled for implementation. Anderson was joined on the panel by Phillip Johnson, partner with Argyle Ben- efits Consultants LLC, Angela Youngberg with Rainey, Kizer, Reviere & Bell PLC, and Dr. Michael Lachina, chief medical officer at Saint Francis Healthcare in Memphis. “If you’re a small employer with fewer than 50 employees, typically you’re not going to face changes,” said Johnson, a chartered life underwriter and certified employee benefits specialist with a solid understanding of federal health care reform, including how the legislation will impact both individuals and large and small businesses. “You will have options that relate to the health care that you pro- vide your employees.” Youngberg leads her firm’s Health Law Practice Group, practicing primarily in the areas of health law, corporate law, and mergers and acquisitions. She advises clients in connection with setting up new medical practices and other health care entities, joint ventures, Accountable Care Organizations and clinical integration. “The severability of the act is really 24 June 2-8, 2012 www.thememphisnews.com

news

real estate & development Commercial Advisors Grows Portfolio

SARAH BAKER | The Memphis News Office Park, Power Towers and Lipscomb has also picked up leasing and manage- Blvd. and Lakecrest III at 6060 Primacy Pitts – during his time with Trammel Crow ment of One Memphis Place, 200 Jefferson Parkway. Commercial Advisors Asset Co. Conrad represents users on the tenant Ave. The 204,704-square-foot building Services has leased up Lakecrest III – the advisory side of the business, Commercial is currently 86.16 percent occupied and 130,574-square-foot Class B asset the com- ushman & Wakefield/Commercial Advisors, while also overseeing the com- was formerly handled by CBRE on behalf pany leases and manages in the East office Advisors Asset Services LLC is on pany’s Asset Services division. of the owner, Massachusetts-based REIT submarket – with the 32,306-square-foot C a roll, picking up various leasing “It’s kind of deja vu,” Conrad said. “This Management & Research LLC. lease signing of Federal Deposit Insurance and management assignments that have business is a circle – what goes around One Memphis Place is one of two Corp. The deal marked the largest single brought its office and industrial involve- kind of comes around. One of things that I buildings Downtown that Commercial office lease this year to date. ment to 17.8 million square feet. love about the commercial real estate busi- Advisors Asset Services leases and man- Meanwhile, Commercial Advisors Lake Worth, Fla.-based In-Rel Prop- ness is it’s a long-term business. Last time, ages in addition to One Commerce Square. Asset Services recently inked a substantial erties announced last week it had out- we didn’t have it long when CB (Richard Senior vice president Phil Dagastino Jr. flex warehouse lease with FEDEX Employ- sourced its Memphis office leasing to Ellis Memphis) bought Trammel Crow and said One Memphis Place is truly a niche ees Credit Association for 24,384 square Commercial Advisors Asset Services, then In-Rel took it back in-house.” building due to its proximity to all of the feet in Nonconnah Corporate Center, 2731 Memphis-based Commercial Advisors Conrad said being awarded In-Rel’s courthouses Downtown. Nonconnah Blvd. LLC’ third-party leasing and management local office leasing “fills the gap” for Com- “One Memphis Place has become The company earlier this year took business. mercial Advisors because the company home and will continue to be home for over leasing and management of Oak That portfolio is made up of more than was looking to grow in leasing for Class B many prominent attorney’s in Memphis Court Office Building from Grubb & Ellis 1.3 million square feet, among Clark Tower, properties in East Memphis. for years to come,” Dagastino said. “Cush- Memphis. The Class A, 125,239-square- 2400 Poplar Building, Lipscomb & Pitts “This portfolio really fit that bill from man Wakefield/Commercial Advisors is foot office building at 530 Oak Court Drive Building, Lynnfield Office Park, Polar Tow- a strategic growth standpoint for our excited to grow this very important and is owned by Indianapolis-based Simon ers, Quince Centre and a Quince Centre company,” Conrad said. “We also like to successful relationship with REIT Manage- Property Group Inc. and is 19.8 percent va- outparcel. work with a small number of larger owners ment & Research and will now be leasing cant. Commercial Advisors Asset Services’ Commercial Advisors’ principal Kemp so we can really spend adequate time and and managing all three of their assets in leasing and/or management assignments Conrad has a history with many of the cur- resources and really make sure that we Memphis.” are now made up of 3.7 square feet of of- rent properties in In-Rel Memphis’ port- drive leasing velocity.” Those three assets are One Memphis fice space and 13.9 million square feet of folio – including Clark Tower, Lynnfield Commercial Advisors Asset Services Place, Sparks Building at 775 Ridge Lake industrial.

INKED Colliers International Duo Has Stellar Start to ’12

SARAH BAKER | The Memphis News and expanded its Memphis warehouse space, leasing square-foot building at 1035 Oakhaven from First Tennes- 30,000 square feet at 3412 Jackson Ave. Cates and Thomas see Bank NA for $150,000. represented the tenant. Stan Myers, director of sales and Thomas and Andrew Phillips with Colliers handled the leasing at Belz Enterprises, represented the landlord. transaction. Colliers International’s industrial team of Andy Cates Proshow Systems was previously in 10,000 square feet The Assessor’s 2012 appraisal is $150,000 for the Class and Preston Thomas has closed on 34 transactions (sales at 1985 Thomas Road and needed more space for its grow- B office space built in 1958. and leases) to date in 2012. Here’s a rundown of some of ing business, Thomas said. The full-service live entertain- Thomas said the building needed some interior the team’s most recent industrial transactions: ment production company has locations in Memphis and renovation work and the price made it attractive for the Konica Minolta Business Solutions U.S.A. Inc. has Birmingham, Ala. purchaser to buy, spend some capital and fix it up for his renewed and expanded from 13,000 square feet to 21,750 Meanwhile, Stanley Steemer Carpet Cleaner has use. square feet at 6991 Appling Farms Parkway, suite 106. purchased the 20,000-square-foot building at 1250 Big The tenant was represented by Matt Weathersby, prin- Orange Road from BankTennessee for $650,000. In other commercial leasing news, Mulligan Golf Shop cipal with Cushman & Wakefield/Commercial Advisors The space formerly housed a Blue Ribbon Cabinets. has relocated from 3852 Park Ave. to a 1,311-square-foot LLC. Cates and Thomas represented the landlord, Appling The 2012 appraisal from the Shelby County Assessor of space at 4984 Park Ave., next to Patrick’s Steaks & Spirits. Farms Properties. Property is $1.2 million for the Class B prefabricated ware- The company sells discounted and used golf merchan- Thomas said an industrial deal of Konica Minolta’s size house built in 2000. dise. Cal Roberts, owner of Mulligan Golf Shop, was rep- in the northeast submarket is significant for a flex office The buyer was represented by Ed Larkin, industrial resented by J. Tucker Beck with Crye-Leike Commercial user. division director for Memphis Commercial & Industrial in the six-year deal. John Schaffler, agent with McKee & “Generally, the average deal size in the northeast is Real Estate. Cates and Thomas represented the seller. McFarland Inc., represented the landlord, HPH Properties. probably 5,000 to 7,000 square feet, so a 21,000-foot lease Stanley Steemer was in a 10,000-square-foot building Beck said the more easterly location provides more is a big deal up there,” he said. on U.S. 64 in Bartlett and recently sold the property. favorable demographics for the tenant. Also expanding is Fasteners Source, from 15,000 Thomas said the office space in the building on “Moving east is going to give Cal a tremendous square feet to 22,500 square feet in Bellbrook Industrial Big Orange set up well for the tenant’s use. amount of more business,” he said. Park, 2935 Fleetbrook Drive. The local company whole Konecraines Inc. has leased 4,950 square And Fox Ridge Pizza has renewed its 4,200- sells industrial fastening equipment. feet at 2039 Fletcher Creek from HGCC square-foot space at 1769 N. Germantown Cates and Thomas represented the tenant. Bryce Properties LLC. The Springfield, Ohio-based Parkway for an additional five years. Daves with CB Richard Ellis Memphis represented the overhead crane equipment company is on Beck represented the restaurant. Marvin landlord, TC Bellbrook Industrial Inc., an entity of Tram- the grow, relocating from 1683 N. Shelby Palmer of Palmer Brothers Inc. represented the mel Crow Co. Oaks Drive, suite 4, where it was leasing 3,750 landlord. Bellbrook Industrial Park is a 13-building campus square feet. totaling more than 1.6 million square feet spread over 100 Thomas and Cates were the brokers of Send commercial lease announce- acres with access to the Interstate 240 and Interstate 55 record for the deal. ments to Sarah Baker, who can be interchange. And lighting company Light Unto reached at 521-2464 or sbaker@mem- In addition, Proshow Systems LLC has relocated My Path LLC has purchased the 2,100- phisdailynews.com. www.thememphisnews.com June 2-8, 2012 25

news

COMMUNITY Dog Park at Heart of Overton Park Rejuvenation

BILL DRIES | The Memphis News to the park’s largest greenspace for the last year. “The group that got the conser- the project from First Tennessee Founda- open spaces and those who come to the vancy off the ground did a lot of research tion for an undisclosed amount. park for the same open space but don’t with other parks around the country and “You’ll be able to go from that inter- want to interact with dogs not on a leash. found that dog parks were universally section to the internal park road system. verton Park Conservancy lead- Hollywood Feed funded construction some of the areas that saw the most park Currently you see bicycles going across ers formally open a dog park of the dog park, designed by Askew Nixon traffic. We knew it would be a popular the grass there. It’s sort of the logical O Saturday, June 2, with a corpo- Ferguson Architects Inc., which is divided destination.” extension of the Shelby Farms Greenline,” rate sponsor paying for the undertaking, into two sections – “a smaller area for the It is also another move to better define Sullivan said. a new executive director on the job for smaller dogs who might be afraid of the the greenspace off the Poplar Avenue en- The state grant from the Tennessee about a month and plenty of mainte- larger dogs and then a larger area for ev- trance. The conservancy is endorsing sep- Department of Environment and Conser- nance work under way in other parts of eryone else,” said Tina Sullivan, executive arate efforts by The Memphis Zoo to build vation is for the path itself. The crosswalk the Midtown park. director of the conservancy since May 1. a 500-car parking garage on zoo property across the busy intersection will also be Meanwhile, the conservancy has The dog park is by the Rainbow Lake that will end the practice of parking cars restriped as part of the project. funding from the state and a nonprofit playground and pavilion, which are next on the north end of the greenspace when The park project links up with an foundation for a plaza entrance on the on the conservancy’s list for renovation the zoo parking lot is full. arts district to the east in which business park’s eastern side and a link to park trails including restrooms and the addition of In May, the conservancy secured an owners have already marked off their own from the Broad Avenue Arts District. picnic tables. $88,400 state grant for a bike and pedes- bicycle and parking lanes. The district Overton Bark is 1.3 acres that solves “A dog park came up consistently trian path into the park off East Parkway runs east from East Parkway to Tillman a long-standing but low-level source of in the survey results,” Sullivan said of a where Sam Cooper Boulevard ends. Street, which is the western end of the conflict between those who brings dogs survey by the conservancy undertaken The conservancy also has a grant for Shelby Farms Greenline.

251 riverside drive acre parcel to Memphis Develop- memphis, tn 38103 ment Foundation, the organization REAL ESTATE RECAP permit cost: $9.8 million that operates The Orpheum The- atre, for $1.2 million. The triangular- Permit Date: Applied May 2012 shaped parcel is bounded by South Cordova’s Appling Lakes Owner: Riverfront Development Front Street to the west and South Corp. Main Street to the east, behind Tenant: Riverfront Development MLGW property that fronts Linden Sells for $26 Million Corp. Avenue to the south. Details: Riverfront Development The site is adjacent to The

KATE SIMONE | The Memphis News Corp. is preparing for the next phase Orpheum, 203 S. Main St., and will of Beale Street Landing: develop- be the site of its new, three-story

Dexter Grove Dr Apple Yard Ln ment of a riverfront park. The Performing Arts and Leadership organization has filed a $9.8 million Academy building. It is expected to building permit application with the take two to three years to complete.

il ra city-county Office of Construction The new building will house The T k o ro B le d Code Enforcement for the park. Orpheum’s education depart- d y a a S W

e

l

d

i The scope of work listed on the ment, which annually serves 52,000

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b n U application includes a river park students ages 5 to 22 in 19 different Appling Lakes C with landscaping, wood decks, programs, all of which have been o r d o at Cordova Club va a children’s play area, concrete running at capacity or more than Rd

d R paving, landscaped terraces and capacity for the last two years. g n li p p A projections. U n b r C id or le do W va RDC is seeking bids for a con- 402-406 Perkins Road a R y d tractor, with construction of this Extended portion of the landing to be finished Memphis, TN 38117 1385 appling road • cordova, TN 38016 sometime in 2013.The development sale amount: $1 million of Beale Street Landing has come in 1385 appling road fits and starts, with patchwork fund- Sale Date: May 9, 2012 cordova, TN 38016 ing across two presidential adminis- Buyer: Perkins Laurelwood LLC SALE total: $26.4 MILLION (27 TIC sellers) trations and three Memphis mayors. Seller: Allison T. Gilbert and Wil- Though mostly complete, the land- liam P. Moss III, substitute trustees Sale Date: March 2012 through May 2012 ing is still a work in progress, with Details: Perkins Laurelwood LLC Buyer: Appling Lakes LLC a riverside restaurant and gift shop has bought back the Shops of Lau- Seller: 27 tenants-in-common sellers slated to open in July. relwood, a Class A shopping center Loan Amount: $19.9 million on Perkins Road Extended, for $1 Loan Date: May 17, 2012 0.9 Acres On million after it initiated foreclosure Maturity Date: June 1, 2019 South Main Street proceedings last month. Lender: Prudential Affordable Mortgage Co. LLC QUITCLAIM AMOUNT: Built in 1959 and formerly Details: The 312-unit Appling Lakes at Cordova Club apartment complex has been $1.2 million known as Perkins Plaza, the 10,770- sold for $26.4 million by tenants-in-common investors who bought it in 2005 for $26.9 square-foot center at 402 S. Perkins million. Salt Lake City-based Appling Lakes LLC bought the Class A complex from 27 Quitclaim Date: May 10, 2012 Road Extended and 406 S. Perkins tenants-in-common investors for $26.4 million, financing it with a $19.9 million loan Grantee: Memphis Development Road Extended is anchored by El through Prudential Affordable Mortgage Co. LLC. Foundation Mezcal Mexican restaurant. Built in 1998, Appling Lakes has one-, two- and three-bedroom units in three-sto- Grantor: Memphis Light, Gas and It is on 0.8 acres on the east side ry buildings. It is situated on about 28 acres northwest of the intersection of Appling Water Division of Perkins Extended north of Poplar and Cordova roads. The Shelby County Assessor of Property’s 2012 appraisal is $23.5 Details: Memphis Light, Gas and Avenue in the Laurelwood Shopping million. Water Division has transferred a 0.9- Center subdivision. 26 June 2-8, 2012 www.thememphisnews.com

Thankfully, Memphis Law Talk It’s Only Fiction Memphis Law Alum I didn’t like the last novel I read, C.J. Box’s “Three Weeks to Say Goodbye” (2009). If you think you want to read it, then don’t read this column, as it will spoil the experience. Kidd Gets Admin Post A married couple months into adoptive parent- hood learns that the teenage biological father of ANDY MEEK | The Memphis News their daughter didn’t sign away his parental rights. His father, a powerful fed- eral judge, now wants to be a granddad, it seems. Judge Whoosit and son visit the couple. The judge violates the canons of ju- dicial ethics. He threatens to throw his weight around VIC FLEMING if he doesn’t get his way. I SWEAR He offers to throw his weight around to facilitate and pay for a new adoption for the couple. He sets a date three weeks out for delivery of the child and arranges for law enforcement to watch their every move between now and then. The stage is set for a legal, tear-jerking, dispute-resolution process. Might there be a chapter on finding an ethical lawyer to zealously represent the parents? Others on trial strategy, discovery, procedural wrangling? Might we see skeletons from the judge’s closet ferreted out through proper channels? Will we see subtle ethical lapses from a con- science-torn individual, as the judge microman- ages his son’s case? Will private counsel insist the judge have independent representation when they discover the biological dad’s inner city gang con- nections? Not so much. Box tells us the judge is so kidd feared locally that no lawyer would dare take the case. So, with a political activist and a disgraced, drunken and suspended sheriff’s deputy as cohorts, the adop- n relatively short order, Jamie served as chief justice of the moot ber of hours of pro bono work prior tive father Kidd went from being a student court board and as a member of the to graduating.” I Swear Crossword spirals into Iat the University of Memphis Ce- University of Memphis Law Review. That’s one of the many things she Fleming’s weekly puzzle Page 32 a bizarre cil C. Humphreys School of Law to After passing the bar, the school’s thinks makes Memphis’ law school world of working there. dean approached her about staying stand out. criminal- Kidd is the law school’s new as- at the school – but as a staff member, “I think Memphis really has a ity, violence and pouty-whiny potshots at the judge. sistant director for law school ad- instead of a student. So a few months lot to offer, because everyone on the Box has written best sellers. He’s a good writer. And ministration. The Huntsville, Ala., after graduating, she came on as a staff really interacts with students “Three Weeks,” though anathema to my wishful native has responsibilities that temporary employee while they cre- on a regular basis,” she said. “I felt like the staff and professors all had expectations, may be just the thing for some thriller include everything from matters in- ated a position which she then ap- volving human resources to accredi- plied for and now fills. an open door policy, and I had per- readers. I realize it’s only fiction. tation, budgeting, academic regula- It was a lot of professional change sonal relationships with them. I also This sitting federal trial judge, who aspires to be tions and other administration-re- in a relatively short period. think Memphis has a lot to offer, on the Supreme Court, murdered his own parents lated projects. “I got my law degree in May, took because in this economy you need when he was a teen; married his then-girlfriend, Kidd, who went to Middle Ten- the bar exam and passed it in July,” to make connections while you’re in who provided him with an alibi; had a son with her; nessee State University before en- she said. “I started on staff at the law school. and, when the son became of age, had the son help rolling at the U of M to get her law school as a temporary employee in “And now that the law school is him murder her. This murder is caught on camera degree, said she always knew she August and as a permanent employ- Downtown, you can walk to federal by an itinerant pedophile who roams from park to wanted to pursue the law as a career. ee in March.” court. You can walk to circuit court. park, occasionally abducting and murdering chil- Unlike other lawyers who might She’s not the only new hire the You can walk to several other law dren. With negatives in hand, the pedophile owns be single-minded in their focus law school has announced in recent offices that various students work Judge Whoosit and thus commits his crimes only in on wanting to hang out their own days. Professor William Kratzke has at. And I think that is giving our national parks. The pedophile is on trial for murder shingle or join a law firm, Kidd felt been named the law school’s interim students a real edge in making con- in Judge Whoosit’s court as the adoption issue she couldn’t pass up working at the dean. He succeeds Kevin Smith, who nections that lead to jobs and a great unfolds. The judge tricks the defense lawyer into school. is returning full-time to teaching networking connection for the be- discovering evidence that discredits the testimony She saw too many opportuni- and research. ginning of their legal careers.” of the very deputy sheriff who is a childhood friend ties to help future law students and Kratzke has taught at the law The best advice she has for stu- of the adoptive father. Which gets the defendant off. alumni. school since 1979 and has previously dents is related to the idea of recog- The acquittal, though, is only part payment for “I always knew I wanted to do served as associate dean. He’s taught nizing those available connections. the damning photos – which Judge Whoosit must law, just because I love the law. I love at the University of Mississippi, San- “Treat everyone like they’re im- acquire if he is to be appointed to the Supreme justice,” she said. “I was actually the ta Clara University, Oklahoma City portant, and do your best in every- Court. The other part is the delivery to the pedo- first person in my family to go to col- University and in a summer pro- thing you do, no matter how small phile of a baby girl. I swear! Committing several lege and grew up really respecting gram at New York’s Touro University. or big it seems,” she said. “You never felonies along the way, the adoptive dad and the professionals like lawyers and doc- Kidd is excited about that, plus know what person you’re going to suspended deputy save the day without the help of tors and so on. about things like a new pro bono need help from in the future or what even one iota of legal advice. That the political activ- “However, I fell in love with the program at the law school. person you can impact quite sub- ist and about a dozen others get killed during this law school and the opportunities “We are instituting a pro bono re- stantially. Sometimes the littlest three-week stint is but collateral damage. the law school provided while I was quirement for our law students,” she thing you do in a legal environment Fortunately, it’s only fiction. there.” said. “The students are going to have can make a much bigger difference Vic Fleming is a district court judge in Little Rock. Kidd got her law degree last year, to be involved in finding different than you anticipate. Being a lawyer, I and she’s admitted to practice in pro bono opportunities in the law think you have a certain responsibil- Tennessee. While at the U of M, she school and putting in a certain num- ity to treat everyone with respect.” www.thememphisnews.com June 2-8, 2012 27

Memphis STANDOUT Spencer Crucial to Youth Villages’ Success

AISLING MAKI | The Memphis News principal at St. Michael Elementary previously had not worked with kids who School from 1969 to 1976, and as a reli- had these kinds of problems at all. gious education consultant for the Mem- “The problems the kids had at private phis Catholic School System. school had been minor compared to what ister Barbara Spencer has been In 1980, Spencer joined Dogwood we dealt with, but you learn as you go,” changing children’s lives for de- Village, which would in 1986 merge with she said. “I always had a really soft spot Scades. Memphis Boys Town to become Youth for children, and I’ve always wanted to be As a founding staff member of Mem- Villages, serving children with serious of help.” phis-based Youth Villages, she’s been behavioral and familial challenges. Her biggest challenge was trying to instrumental in its growth from a small In the early years, the organization convince school administrators to keep nonprofit into a national organization had just a few employees, and money was the children in public schools, but she that provides a wide array of services to so tight Spencer’s salary was paid from quickly recognized the schools lacked the more than 18,000 children and families garage sale proceeds. knowledge and resources to deal with se- annually in 11 states and Washington. “They didn’t know how they were rious behavioral issues. Spencer, a childhood friend of Elvis SISTER BARBARA SPENCER going to pay me and I didn’t either,” she “Our kids had not, for the most part, Presley, grew up in Tupelo, Miss. When said. “But it’s very important in our com- been successful in school because of a lot she was 9 she moved to Memphis to live As a young teenager, Spencer convert- munity (Sisters of Charity) to work with of other issues they have and the environ- at St. Peter’s Orphanage, where her single ed to Catholicism, eventually joining the the poor and with children, so they were ment from which they came,” she said. mother had secured a job. The pair made Sisters of Charity, an American order that willing to subsidize what I needed to Believing emotionally and behav- their home there for nearly a decade. this year celebrates its bicentennial. live.” iorally troubled children could achieve Although Spencer wasn’t an orphan, After receiving her bachelor’s degree The handful of employees, which academic success in an environment that growing up in the orphanage and watch- in education from Nazareth College in included present Youth Villages CEO Pat- addressed their emotional needs, Spen- ing the nuns work with children in need Kentucky, Spencer received a master’s rick Lawler, performed whatever work cer spearheaded the creation of certified, had a profound impact on her. degree in religious education from Seattle was needed, which sometimes included residential campus schools. “The nuns were wonderful to us and University and a master’s degree in edu- Spencer driving around town to collect She shaped the curriculum devel- it was a beautiful experience,” she said. “I cation from the University of Memphis. day-old bread from grocery stores to help opment around the philosophy of Re- always felt like I wanted to make life dif- She served as principal at St. Joseph supplement the children’s meals. Education, an approach integrating ferent for other kids because somebody School under the auspices of St. Peter’s Although Spencer had spent her ca- children’s academic success with their made it different for me.” Home for Children from 1967 to 1969, reer working with children, she said she individual treatments.

12n-3p 28 June 2-8, 2012 www.thememphisnews.com

GOVERNMENT City Tax Rate Divides Council Could be difficult to find seven votes on looming budget decision that centers on property taxes

BILL DRIES | The Memphis News

hen the Memphis City Coun- I’m not going to get tripped up over what Strickland, Collins and Ford also dif- cil’s budget committee gets the tax rate is.” fered in the amount of the city’s $81 mil- Wtogether Tuesday, June 5, there The council’s internal debate was over lion reserve fund they would use to fund probably will be agreement that the full what core services are and are not. MCS one last time. council should not raise property taxes. The three plans have some differ- The amounts ranged from $11 million Instead, it should lower the property ences, but Strickland, Collins and Ford in Ford’s plan to $19 million in Collins’ tax rate and should use more of the city’s each indicated they might be able to I’m not going to debate plan to $33.5 million in Strickland’s plan. $81 million reserve fund than Mayor A C reach agreement on including parts of the over what the tax rate is. Ford’s plan was the only one of the Wharton Jr.’s administration believes is other plans in their respective plans and Let’s take care of the kids, three that was a percentage point north prudent. vice versa. keep the core services of 10 percent, which reflected his agree- All would restore the libraries to the ment generally with city Finance Director But it probably will take some work at of government and I’ll be the full council session later that day to budget that had been originally marked Roland McElrath that the city shouldn’t find seven votes for what likely will be a for closure in the administration’s pro- satisfied.I ’m“ not going to take the risk of using more in the event of budget and tax rate for the new fiscal year posal. get tripped up over what the a catastrophic event like a flood. that has elements of several plans making Collins would keep city golf courses tax rate is.” “I’m using less in reserves. There are the rounds at City Hall. open but close them during winter more cuts and savings – more commu- A C Wharton Jr. Three council members have pre- months as opposed to closing them Memphis Mayor nity related things such as libraries, golf sented plans that would roll back the entirely. Strickland and Ford would keep courses, community centers,” Ford said city’s current property tax rate to vary- them open all year. later. “Schools are paid for and there’s a ing degrees and come up with the city’s Collins is proposing a one-time-only centers drew the most debate among the lower property tax rate. The tax rate will last mandatory funding to Memphis City 10-cent property tax assessment to fund eight council members present. be $2.98. The lowest it’s been since 1993.” Schools using differing combinations of MCS one last time, which still drops the Strickland argued nonprofits that McElrath argued that the city admin- one-time funds. existing $3.l9 tax rate. All of the council now run several community centers do istration has a policy that recommends Council members Jim Strickland, plans work on the assumption that it a better job than the city’s Park Services against using a reserve fund to the point Harold Collins and Edmund Ford Jr. pre- takes a $3.01 tax rate to run city govern- division. that it is less than 10 percent of the city’s sented their plans during a Tuesday, May ment without schools funding before any “It’s not even close,” he said as he ar- overall operating budget, which is $628 29, budget committee session. cuts are included. gued city funding should go first to “core million. This week’s committee session was “After today, I don’t think this discus- services,” which he defined as fire, police Strickland countered the concern the clearest indication that the council is sion of a tax increase will come up again,” and sanitation. “Only government does about the city’s bond rating by saying a likely to do more than just reject the 47- Collins said later, referring to Wharton’s that.” hike in property taxes would be more cent property tax hike proposed in April proposal. “It’s gone.” Strickland also proposed eliminating damaging because it would contribute to by Wharton solely to fund MCS. Strickland’s plan to eliminate city one of the park services two deputy direc- an inelasticity in the city’s ability to raise “I’m not going to debate over what the funding for the Memphis Music Commis- tors. Both positions have survived as what taxes again so soon after that. tax rate is,” Wharton told reporters as the sion and take proposals from private non- was once a separate city division was He also cited Nashville’s recent deci- committee session got under way. “Let’s profits to run the city’s Second Chance folded into the public services division sion to use its reserves and lower the per- take care of the kids, keep the core ser- jobs program for felons as well as possibly along with the old community enhance- centage of the fund to the total operating vices of government and I’ll be satisfied. outsource more of the city’s community ment division. budget to below 5 percent.

education Suburbs Move Forward With School Districts

BILL DRIES | The Memphis News

yes or no. Early voting in advance of the after that specifically allowing for such towns and cities to produce the minimum ll six suburban towns and cities Aug. 2 election day begins July 13. referendums before the schools merger. amount of funding the state requires for are just about set to vote starting The election commission was poised The bill, which Tennessee Gov. Bill such a school district. Ain mid-July on forming municipal in March to put the municipal school Haslam later signed into law, applies only The funding question in Lakeland in- school districts. Boards of aldermen in district question to voters in two of the to Shelby County. volves a combination of a half-cent local each of the six suburban towns and cities suburbs on a special May 10 ballot. But a The election commission is scheduled option sales tax hike as well as the estab- took votes Tuesday, May 30, that sent the legal opinion from the Tennessee Attor- to meet June 20 to take up putting the lishment of a property tax for Lakeland to requests for the ballot questions to the ney General’s office in March led the elec- questions on the Aug. 2 ballot. Still pend- produce the revenue required. Shelby County Election Commission. tion commission to turn down the ballot ing is another Attorney General’s legal If voters approve the two questions The ballot questions in Germantown, request. The AG’s office opined that the opinion countywide school board mem- in August, the next step would be the Collierville, Bartlett, Millington, Arlington referendums could not take place at least ber Martavius Jones is seeking through election of school board members on and Lakeland would be on the same bal- until Shelby County’s two school systems a member of the legislature. The request the Nov. 6 election ballot. Advocates of lot with county general elections, school were consolidated in August 2013. questions the constitutionality of the law the municipal school districts want the board races and primary elections for the Because the Attorney General’s office because it applies only to Shelby County. boards to be in place before the end of the Tennessee Legislature, the U.S. House provides legal advice to the state elections The ballot questions in each of the year so they can appoint superintendents and the U.S. Senate. The turnout they are coordinator, the coordinator advised the towns and cities will ask if voters want by the end of the year. The ultimate goal expected to generate is certain to impact election commission it could not set a to establish a municipal school district is to open the municipal school districts the other races on the ballot that involve date for the referendum elections. and if they want to approve a half-cent as the merged school district opens in choices of candidates instead of voting The Tennessee legislature passed a bill local option sales tax in five of the six August 2013. www.thememphisnews.com June 2-8, 2012 29

Memphis NEWSMAKERS Does Your Scott Joins Methodist South as CMO Brand Have KATE SIMONE | The Memphis News Personality? Ever wonder why some small businesses become powerful brands and oth- Dr. Howard Scott has been named chief medical officer at Method- ers stagnate? Often, it comes down to brand ist South Hospital. Before joining Methodist South, which is part of the personality, or lack thereof. Methodist Le Bonheur Healthcare system, Scott served as chief medical Take ice cream brand Ben & Jerry’s, whose officer for West Kendall Baptist Hospital in Miami. owners founded the company on the principle of “If it’s not fun, why do it?” That brand per- Hometown: Old Harbor, Jamaica What talent do you wish you had? sonality resonates both inside and outside the Playing the saxophone company. Employees have fun at work and that Education: Medical school training sense of enjoyment permeates to the outside at the University of the West Indies, Who has had the greatest influence world as well. Known for Kingston, Jamaica, and post-graduate on you? My mother fun flavors like Cherry work in public health at Johns Hop- Garcia, named for the kins University in Maryland. What attracted you to Methodist scott Grateful Dead front South Hospital? The people that I man Jerry Garcia, the Work experience: Private practice met during the interview process and Dr. Donald B. Thomason brand now promotes in pediatrics, chairman of utilization, emphasis on quality. has been named dean of the a controversial flavor chief quality officer, physician coordi- University of Tennessee Health of the month, such as nator. What are your goals as chief medi- Science Center College of Grad- Imagine Whirled Peace cal officer? To be the best chief med- uate Health Sciences. Thoma- Lori turner- and Karmel Sutra. Family: Wife, Margaret, 35 years of ical officer that I can be. son currently is a professor in wilson guerrilla sales Consumers can marriage; three kids (two daughters the department of physiology and marketing be quick to embrace a and a son) What do you consider your great- as well as the associate dean for brand when its person- est professional accomplishments? student affairs. ality is authentic. If Ben & Jerry’s were run by Favorite quote: “Less is more.” Running a private practice in pediat- traditional “suits,” few would deem its person- rics for almost 30 years, and the bond Rhodes College has award- ality bona fide. So how well do you know your Last book read: “A History of Chris- I created with my patients’ families. ed Dr. Robert R. Waller an brand’s personality? If you were chatting with a tianity” honorary Doctor of Humanities friend about it, how would you describe it? Try What do you most enjoy about your degree. Waller, an ophthalmol- likening your brand to a breed of dog or model ogist, is a Rhodes trustee and Activities you enjoy outside of work? The fact that I can make a dif- of car, which can often be easier to describe. president emeritus of the Mayo work: Traveling, reading and art col- ference in people’s lives. How would your customers and prospects Clinic health system. lections describe your brand personality? If you don’t know, ask them – toot de suite. Steven Lowery and James It’s gratifying to see local companies em- Raymer have joined Strategic bracing and finding branding success. Known Financial Partners as regis- for sporting a variety of brightly colored wigs, tered financial representatives. Memphis-based baker and entrepreneur Kat Lowery is a retired U.S. Marine Gordon of Muddy’s Bake Shop gets “it.” Corps major and attended the Self-titled “manager of awesome,” she has University of Memphis and developed a brand that is equal parts positive University of Phoenix. energy and just plain full of life. Recently inter- Christopher Sheffield has viewed regarding the state of her business, her joined Shelby County Trustee response was “Splendiferous!” That’s Kat. Meet David Lenoir’s office as execu- her once and never forget her. Engage with her tive director of communica- brand, and the same holds true. tions. Iconic brand Coca-Cola has certainly invested heavily through the years in establish- Shoemaker Financial advis- ing a brand personality that embraces diversity ers Jim Shoemaker and Frank as depicted in its long running, “I’d like to buy Allen have been named to the the world a Coke” campaign. The ads featured Come in and try some Million Dollar Round Table people from across the world coming together Court of the Table. Jeremy – for the love of Coke and song. This brand trait of our newest menu items Jones was named to the MDRT holds true, as Coke products are available in Top of the Table. Bill Regenold one form or another across the world. and Jim Whitehead achieved Historically, brands that stand the test of MDRT recognition. All the ad- time have a well-defined personality. Levi’s visers are based in Shoemaker brand has stood for rebellion through the years. Financial’s Germantown office. The Marlboro brand personality is all about masculinity, freedom and adventure. Nike’s Adrian Walker of SRVS has personality is young, active and adventurous. been named the 2012 Direct Apple hangs its hat on its creativity, imagina- Support Professional of the Year tion, innovation and individuality. for Tennessee by the American If you’re struggling to define your brand, you Network of Community Op- can bet your customers and prospects are, too. tions and Resources. And that’s a recipe for market complacency. In the end, brand personality boils down to Steve Baer, long-term care the simple idea that the quality of your work or planning specialist at Gen- product and the degree to which your consum- worth Financial Mid-South, has ers relate to your brand drive repeat business been named the fourth-leading and brand loyalty. It’s just that doggone simple. long-term care insurance pro- fessional in Tennessee by the Lori Turner-Wilson is an award-winning col- American Association for Long- umnist and managing partner of RedRover Sales & Marketing, www.redrovercompany.com. • Term Care Insurance, which awarded Baer its 2012 Achieve- ment Award. 30 June 2-8, 2012 www.thememphisnews.com

health care & biotech

Medical Necessity AISLING MAKI | The Memphis News Local universities work to meet growing demand for Physician Assistants

n aging population, changes in the director at Eastern Virginia national health care model and a Medical School; program Ashortage of primary care physicians director at The Univer- have increased the need for physician as- sity of New England; and sistants, or PAs, who work under the direc- clinical director at Nova tion of physicians and surgeons. Southeastern University. One of the fastest-growing occupa- Gemmiti said the tions, PA comes with an average annual roughly 40-year history of salary of more than $86,000, and employ- the PA profession can be ment in the field is expected to grow 30 traced back to the Viet- percent over the 10-year period from 2010 nam War, when, due to to 2020 – much faster than the average for a shortage of physicians, all occupations, according to the federal military medics began be- Bureau of Labor Statistics. ing trained on a fast track The field is attracting professionals like to enable them to care for Tripp Washburn, who’s currently enrolled soldiers injured on the in the pilot class of 32 students in Mem- front lines. phis’ first Master of Science in Physician She said this fast-track- Assistant Studies program, which was ing of medics prompted launched in January at Christian Brothers Dr. Eugene Stead to launch University, a private Catholic university at the first PA program at 650 East Parkway S. Duke University, with the Like many PAs, Washburn has an first cohort graduating in undergraduate degree in science and prior fall of 1967. Like the short- patient experience in a clinical setting as age of doctors gave rise to an EMT. The profession is also attracting PAs during the Vietnam registered nurses and paramedics, who Photo: Lance Murphey era, today’s shortage of want to advance their medical education Physician Assistant Samantha DeVore speaks about a water skiing injury with patient Scott Roller in primary care physicians through a faster track and at a lower cost. the Emergency Room at Saint Francis Hospital-Bartlett. has created a need for the “After 27 months, I’m already out in mid-level practitioners. the workforce, working first-hand with prescriptions; ordering and interpreting tation, UTHSC said its new Department of “One of the objectives of health care patients, diagnosing, prescribing – doing diagnostic tests; and administering im- Physician Assistant Studies at the College reform is access,” said Dr. Noma Ander- what all doctors do,” said Washburn, add- munizations. of Allied Health Sciences will begin enroll- son, dean of the UTHSC College of Allied ing that PA programs are a more practical “We can do about 80 to 90 percent of ment in January 2014 with a pilot class of Health Sciences. “This program definitely fit than medical school for older students their work,” Washburn said. “Having that 25 students maximum. speaks to that need, trying to make sure and those with families of their own. freedom and responsibility is huge, and I “It takes a long time to turn out quality health care is available to more Ameri- The curriculum at CBU focuses on six think the public needs to know that even physicians and it’s expensive for that to cans.” major areas: medical knowledge; interper- though you’re seeing a PA, you’re not get- happen,” said Catherine Gemmiti, who In addition to primary care, PAs prac- sonal and communication skills; patient ting any less quality care than you would if on May 15 began her appointment as the tice in all medical fields including internal care; professionalism; practice-based you were seeing the physician. You’re still department’s founding chair and program medicine, psychiatry, subspecialties, and learning and improvement; and systems- getting good quality care.” director. “This is a solution to help fill that emergency and surgical care. A masters based practice. The program also includes The main campus of the University of gap and address the shortage of access to degree is the highest level of education clinical rotations at sites throughout the Tennessee Health Science Center in Mem- care.” available in the profession, and some PAs Memphis area. phis is preparing to launch its own two- Gemmiti brings extensive experience will, like Gemmiti, focus on research and Upon graduation, PAs are licensed to year physician assistant training program, in PA education, having most recently education. practice medicine and can provide many which the academic institution says will be served as PA clinical coordinator for “We study medicine and we practice of the same services physicians provide, the first available at a public university in Trevecca Nazarene University in Nashville. medicine under the direct supervision including performing physical exams; Tennessee. Although the program is still in Her previous roles included PA direc- of the physician, although we have great making preliminary diagnoses; writing the planning stages and awaiting accredi- tor at Rocky Mountain College; program autonomy in that realm,” Gemmiti said.

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

WATERFRONT

Advertise Your Listing Here PREMIER PROPERTY 4208 TUCKAHOE RD. for only $30 per Week Memphis,TN 38117 LR, DR, huge great room/in-law suite. Den, Breakfast room. Inviting oor plan. Beautiful For more information, contact landscaping. .56 Acre. Patricia McKinney at 901-528-5271 or Custom Built Home. [email protected] Elk River/Wheeler Lake area. EAST MEMPHIS ForSaleByOwner.com listing Jeanne Arthur, CRS 23901911. Realtor Protected. OFFICE 901-766-9004 CELL 901-634-2800 256-483-7233 www.thememphisnews.com June 2-8, 2012 31

features innovation happenings

48 Hour Launch Memphis Special Effect will be held from Friday, June 8, at 5:30 p.m. to Sunday, June 10, at »7 p.m. Entrepreneurs and diverse ANDY MEEK | The Memphis News professionals will collaborate to launch companies and develop products. Registration is $50 before May 25 and $50 afterward. Visit 48hourmemphis.eventbrite.com for tickets.

» Community The Memphis Farmers Market will be open Satur- day, June 2, from 7 a.m. to 1 p.m. at Central Station Pavilion, 545 G.E. Patterson Ave. at South Front Street. Visit www.memphisfarmersmarket.org for more information.

The National Kidney Foundation of West Tennessee will hold its 10th annual Kidney Walk fundraiser Saturday, June 2, at 9:30 a.m. at Rhodes College. On-site registration begins at 8 a.m. Regis- ter online at nkfwtn.org or call 683-6185.

The Overton Park Conservancy will host the grand opening of Overton Bark Saturday, June 2, at the dog park, south of Rainbow Lake playground and pavilion in Overton Park. A 1-mile fun walk/ dog parade begins at 9 a.m. in Overton Square. Cost of the festival is free; cost for the walk is $15 in advance and $20 at the event. Visit overtonpark. org/bark for details.

The 17th annual Sisterhood Showcase will be held Saturday, June 2, from 10 a.m. to 8 p.m. and Sunday, June 3, from 9 a.m. to 6 p.m. at Memphis Cook Convention Center, 255 N. Main St. The event, themed “Awaken Your Spirit,” will include food, a fashion show, celebrity guests and more. Tickets are $15. Visit sisterhoodshowcase.com. Photo: Lance Murphey The Booksellers at Laurelwood will host a discus- Various molds and pieces of eyeballs lie on a workbench at Silicone Arts Laboratories, which manufactures sion and signing with Sarah Francis Hardy, author dermaflage, a silicone-based cosmetic scar filler. of “Puzzled by Pink,” Saturday, June 2, at 11 a.m. at the bookstore, 387 Perkins Road Extended. Visit thebooksellersatlaurelwood.com or call 683-9801.

Silicone Arts Laboratories’ new product goes mass-market The Booksellers at Laurelwood will host a discus- sion and signing with Danyelle Bradley, author of arlier in Matt Singer’s career, he porated into, for example, the makeup six figures. “Learning With Tydi & Froggy: Colors,” Saturday, used the special effects wizard- routines of its female customers. The entity believes its secret sauce June 2, at 1 p.m. at the bookstore, 387 Perkins Road Ery of Hollywood to entertain. Kits of the product are stacked in lies in the combination of commer- Extended. Visit thebooksellersatlaurelwood.com. Today, he’s part of a commercial columns inside the entity’s workspace cially viable products mixed with the The University of Memphis Alumni Association enterprise with a lab and workspace at G.E. Patterson Avenue and Ten- marketing, fundraising and entre- will present its 2012 Distinguished Alumni Awards in Downtown Memphis that draws on nessee Street. Also there, colorists are preneurial talent from the Southern Saturday, June 2, at 6:30 p.m. at the fountain on that same body of knowledge to try at work perfecting the shades of the Growth Ventures side of the equation. the university campus. The theme is “A Celebra- and improve lives. range of ethnic skin tones that are The latter is a wholly owned sub- tion of Our Century.” Single tickets begin at $260; tickets for tables of eight begin at $2,600. Contact Singer, a former designer of mon- available, and benches are piled with sidiary of local market strategy firm the association at alumniassociation@memphis. sters and makeup effects for films and various brushes, sculpting tools and Southern Growth Studio, which helps edu or 678-2586. TV shows such as “X-Files” and “Buffy small artificial skin creations, among entrepreneurs like Singer go to the the Vampire Slayer,” is the director of other things. next level. » the arts research and development at Silicone It is a hive of activity that may be “Our mission,” said Southern The Levitt Shell will continue its free concert se- Arts Laboratories. getting a lot bigger soon. Growth’s Michael Graber, “is inherent ries with a performance by African dance and drum He’s worked in Memphis for sev- “This is where the orders come in our name.” ensemble Bandan Koro Saturday, June 2, at 7:30 eral years and once focused primarily in … and you just can’t be in a better In other words, the mission in- p.m. at the shell, 1930 Poplar Ave. in Overton Park. Visit levittshell.org for details. on sculpting a particular prosthetic place for distribution,” said CEO Oscar cludes taking companies and helping device – an artificial eye. Atkinson, leading a tour of the space. them grow in ways they might not Flicker Street Studio will hold a children’s sum- With help from Southern Growth The company recently was chosen necessarily have realized they could mer camp Monday, June 4, through Friday, June 8, Ventures, another Memphis entity and to travel on a trade mission to China pursue. Singer already had the talent. from 1 p.m. to 4 p.m. at the studio, 74 Flicker St. The one that’s part of a joint venture with and South Korea. Along with a few And it had picked up national media camp topic is “Creative Storytelling and Illustration Through Painting.” Visit flickerstreetstudio.com for Silicone Arts, the enterprise has been other local businesses, Silicone Arts interest. Several years ago, he donated details, including age limitations and costs. slowly moving into more mass-market was part of a Tennessee Department of an artificial eye to a Seattle man in territory thanks in part to one of its Economic and Community Develop- need of one. A national ABC broadcast The Orpheum Theatre will present “Mamma Mia!” newest products. ment export initiative. had presented the story of a man, Ed- Tuesday, June 5, through Sunday, June 10, at the theater, 203 S. Main St. For showtimes and tickets, Dermaflage is Silicone Arts’ “topi- The company currently is looking die Mitchell, who needed a prosthetic visit orpheum-memphis.com or call 525-3000. cal perfecting filler” that consumers into partnerships with distributors eye and couldn’t afford one. Singer can buy and then apply onto things who market high-end cosmetics and offered to help. Memphis Botanic Garden will host an opening like scars and wrinkles. It will conceal similar products. It’s secured inter- Atkinson summed up what Sili- reception for its Artists’ Link exhibit Thursday, June 7, from 5:30 p.m. to 7:30 p.m. at the Garden, them for up to 36 hours and is quick est from a vendor in east Asia, and cone Arts is doing this way: “Bringing 750 Cherry Road. A portion of proceeds visit enough to apply that the company Atkinson said the company has raised the magic of Hollywood to consum- MBG’s education and horticulture programs. Cost talks about it being able to get incor- a recent round of funding in the high ers.” is free. Call 636-4100. 32 June 2-8, 2012 www.thememphisnews.com

Week of 5/21/12 - 5/27/12

crosswords The Weekly

Crossword Edited by Margie E. Burke The Weekly Crossword by Margie E. Burke ACROSS 1 2 3 4 5 6 7 8 9 10 11 12 13

1 Best poker pair 14 15 16 5 Paving stone 9 RPM instruments 17 18 19

14 Zero, in tennis 20 21 22 15 Animal dwelling 16 Rustic 23 24 25

17 Capable of being 26 27 28 29 30 31 32 corrected 19 Accumulation 33 34 35 36

of fluid 37 38 39 40 20 Like coin flips 21 Most impudent 41 42 43 44

23 Gymnastic feat 45 46 47 48 25 Small shark 26 Arizona city 49 50 51

29 Diminutive 52 53 54 55 56 57 58 59 33 Hind part 34 Valley 60 61 62

36 Steps over a 63 64 65 fence 37 Literature class, 66 67 68 for short Copyright 2012 by The Puzzle Syndicate 38 Rural area 40 Small child 41 Close by, in old 5 Wading bird 39 Alienate 54 Old-fashioned times 6 Science class 42 Ascetic oath 43 Throw lightly 7 Feels ill 44 Inorganic matter 55 Wheel shaft 44 Animal hair 8 First-rate 46 In addition 57 Wise Men 45 Stately old 9 Enter illegally 48 Musical note 58 Ledger entry dance 10 Listening 50 News media 59 Give up 47 Openwork 11 Algonquian 52 Mexican money 62 1956 film, "___ fabric language 53 Singer k.d. Miss Brooks" 49 Cease 12 Bad actors 51 Golf club 13 Piece of wood 52 Overabundance 18 Big name in 56 Listless pineapples Answer to Last Week's Crossword 60 Enthusiastic 22 Weep VICE CHASM CUSS 61 Free from blame 24 Prototype TV IRON AERIE ABET 63 Trapping device show PEAL SWORD TONE 64 Round bullet 26 Finnish currency LAST SUITCASE 65 On in years 27 Pro golf pioneer A3;7

APRIL 5 HEALTHCARE REFORM Healthcare reform remains a hot topic with new rules and regulations taking effect each year through 2013. We’ll take a look at the impact the legislation is having and what we can expect in 2012-2013. Edited by Margie E. Burke Sudoku JUNE 7 MONEY & MARKETS The international, national and local economies have been under tremendous pressure since The Great Recession of 2008-2009. We’ll take a  Edited by Margie E. Burke look at how the economy is recovering and what the markets have in store for us in 2012. Difficulty : Easy HOW TO PLAY AUGUST 2 SUSTAINABLE ENERGY Sustainable energy continues to be a priority Each row must contain the both locally and nationally, and we’ll take a look at how the industry is growing, from  numbers 1 to 9; each column biofuels to green construction. must contain the numbers 1  SEPTEMBER 20 BUSINESS OF HEALTHCARE Health care remains one of the   to 9; and each set of 3 by 3 primary drivers of economic development in Memphis. We’ll take an in-depth look at the boxes must contain the industry, its challenges and opportunities and its outlook for the rest of 2012 and 2013. numbers 1 to 9.    NOVEMBER 1 COMMERCIAL REAL ESTATE REVIEW & FORECAST With a Answer to Last Week's Sudoku focus on commercial real estate (office, industrial, retail and multifamily), we’ll take a look    at how each sector has fared during 2012 and what can be expected in 2013.      Each seminar will feature a keynote speaker followed by an interactive  discussion with a panel of industry leaders. A cocktail reception with the speakers          and panelists will follow the presentation.     For information on the seminars or sponsorship opportunities, please contact  Don Fancher at 901-528-5283 or [email protected].                A3;7

public notices

Misc. Notices #377 SHARON TYLER (901) 794-1223 boxes, clothes, and appliances. RELATED INFO #394 DAVE BRITTON The personal goods stored therein by 268-ZACHARY JOHNSON 419-EARNEST Shelby County #417 TERI STEWART the following may include, but are not MURRY122-KATRINA WEBBER 62-LOUIS Also read our daily edition, The Daily #490 HAMPTON INN SOUTHWIND limited to general household, furniture, STUKENBORG 447-ANGELA BISCEGLIA News, in print or online every business Purchases must be made with cash only boxes, clothes, and appliances. 556-MICHAEL WILLIAMS day for public notices for Memphis & and paid at the time of sale. All goods Bobby Harris # 564, Antrineka Wilson Purchases must be made with cash only Shelby County. NOTICE OF PUBLIC SALE OF are sold as is and must be removed at #217, Ronnie Berry #32, Sandra Smith- and paid at the time of sale. All goods Go to www.memphisdailynews.com or PERSONAL PROPERTY the time of purchase. Extra Space Stor- Holland #602, Cornelius Rahming #63, are sold as is and must be removed at call 683.NEWS for more information. Notice is hereby given that the under- age reserves the right to refuse any bid. Neal Blaine #337, Shannon Hussey the time of purchase. Extra Space Stor- signed will sell, to satisfy lien of the Sale is subject to adjournment. #267, Lindsay Scott #218, Takita age reserves the right to refuse any bid. owner, at public sale by competitive June 2, 2012 Mhn11255 Riley #205. Sale is subject to adjournment. bidding on June 12, 2012 at 11:00 Purchases must be made with cash only June 3, 2012 Mhn11258 AM at the Extra Space Storage facility PUBLIC NOTICE and paid at the time of sale. All goods located at: 5675 Summer Ave Memphis NOTICE IS HEREBY GIVEN THAT THE are sold as is and must be removed at NOTICE OF PUBLIC SALE OF TN 38134 901-372-6180 UNDERSIGNED WILL SELL, TO SATISFY the time of purchase. Extra Space Stor- PERSONAL PROPERTY PUBLIC NOTICE The personal goods stored therein by LIEN OF THE OWNER, AT PUBLIC SALE age reserves the right to refuse any bid. Notice is hereby given that the under- NOTICE IS HEREBY GIVEN THAT THE the following may include, but are not BY COMPETITIVE BIDDING ON JUNE Sale is subject to adjournment. signed will sell, to satisfy lien of the UNDERSIGNED WILL SELL, TO SATISFY limited to general household, furniture, 12, 2012, AT 9:45 AM AT THE EXTRA June 2, 2012 Mhn11261 owner, at public sale by competitive LIEN OF THE OWNER, AT PUBLIC SALE boxes, clothes, and appliances. CHA- SPACE STORAGE FACILITY LOCATED AT: bidding on June 13th, 2012 at 11:45 BY COMPETITIVE BIDDING ON JUNE 13, SITY JONES #B009A, REBECCA ANN 2673 MT. MORIAH TERRACE MEMPHIS, PUBLIC NOTICE A.M. at the Extra Space Storage facility 2012 AT 10:00 AM AT THE EXTRA SPACE AGE #C028, ROGER GREEN #D014, TN 38115, PHONE NUMBER 901-362- NOTICE IS HEREBY GIVEN THAT THE located at: STORAGE FACILITY LOCATED AT: 2855 THOMAS P SZYMANEK #E009L, REGINA 9360. THE PERSONAL GOODS STORED UNDERSIGNED WILL SELL, TO SATISFY 3175 N. Germantown Rd. N. HOUSTON LEVEE RD. CORDOVA TN ROCHELLE #E014, Willie Husband THEREIN BY THE FOLLOWING MAY LIEN OF THE OWNER, AT PUBLIC SALE BY Bartlett, TN 38133 38016 901-372-9522. #E006J. Purchases must be made INCLUDE, BUT ARE NOT LIMITED TO GEN- COMPETITIVE BIDDING ON JUNE 13TH, 901-386-5746 FAX 901-386-8094 THE PERSONAL GOODS STORED with cash only and paid at the time of ERAL HOUSEHOLD, FURNITURE, BOXES, 2012 AT 11:30 A.M. AT THE EXTRA The personal goods stored therein by THEREIN BY THE FOLLOWING MAY sale. All goods are sold as is and must CLOTHES, AND APPLIANCES. NIKITA SPACE STORAGE FACILITY LOCATED AT: the following may include, but are not INCLUDE, BUT ARE NOT LIMITED TO be removed at the time of purchase. JONES #770, MARCUS HINES #1125, 8000 AUTUMN CREEK DR. CORDOVA, TN limited to general household, furniture, GENERAL HOUSEHOLD, FURNITURE, Extra Space Storage reserves the right RONNIE JOHNSON #A7001, GLENDA 38016, 901-759-5691. THE PERSONAL boxes, clothes, and appliances. BOXES, CLOTHES, AND APPLIANCES. to refuse any bid. Sale is subject to VESTER #A7702, CHANEL SMITH GOODS STORED THEREIN BY THE FOL- H332 Ken Allen, L401 Ashley Williams, #197 SHARIKA CARPENTER, #479 KA- adjournment. #A7007, CHRISTOPHER MCGHEE LOWING MAY INCLUDE, BUT ARE NOT B89 LaShondra GrandBerry, G355 Mi- VIA CATRON, #466 KEN MCCRARY, #25 June 2, 2012 Mhn11251 #B8408, VERONICA FARMER #B8803, LIMITED TO GENERAL HOUSEHOLD, chael Hall, A31 Hannah Shoe. ROBERT WARNER, AND #488 KEITH L. DANIELLE JOHNSON #B8901, LORINZA FURNITURE, BOXES, CLOTHES AND AP- Purchases must be made with cash only TROTTER PURCHASES MUST BE MADE NOTICE OF PUBLIC SALE OF MILLER #B8902. PURCHASES MUST PLIANCES. THE PROPERTY OF: NORMA and paid at the time of sale. All goods WITH CASH ONLY AND PAID AT THE TIME PERSONAL PROPERTY BE MADE WITH CASH ONLY AND PAID MARTINEZ 125 AND CORTNEY BRACK are sold as is and must be removed at OF SALE. ALL GOODS ARE SOLD AS IS Notice is hereby given that the under- AT THE TIME OF SALE. ALL GOODS ARE 386. PURCHASES MUST BE MADE WITH the time of purchase. Extra Space Stor- AND MUST BE REMOVED AT THE TIME signed will sell, to satisfy lien of the SOLD AS IS AND MUST BE REMOVED CASH ONLY AND PAID AT THE TIME OF age reserves the right to refuse any bid. OF PURCHASE. EXTRA SPACE STORAGE owner, at public sale by competitive AT THE TIME OF PURCHASE. EXTRA SALE. ALL GOODS ARE SOLD AS IS AND Sale is subject to adjournment. RESERVES THE RIGHT TO BID. SALE IS bidding on June 12 2012 at 10:30 SPACE STORAGE RESERVES THE RIGHT MUST BE REMOVED AT THE TIME OF June 3, 2012 Mhn11260 SUBJECT TO ADJOURNMENT. AM at the Extra Space Storage facility TO REFUSE ANY BID. SALE IS SUBJECT PURCHASE. EXTRA SPACE STORAGE June 3, 2012 Mhn11262 located at: TO ADJOURNMENT RESERVES THE RIGHT TO BID. SALE IS 7222 Riverdale Bend June 2, 2012 Mhn11256 SUBJECT TO ADJOURNMENT. Memphis TN 38125 June 3, 2012 Mhn11252 (901) 751-2824 NOTICE OF PUBLIC SALE OF The personal goods stored therein by PERSONAL PROPERTY NOTICE OF PUBLIC SALE OF the following may include, but are not Notice is hereby given that the under- PERSONAL PROPERTY limited to general household, furniture, signed will sell, to satisfy lien of the Notice is hereby given that the under- boxes, clothes, and appliances. owner, at public sale by competitive signed will sell, to satisfy lien of the The Memphis News #1 Marilyn McCullar Fleming, #1 Marilyn bidding on 06/12/2012 at 11:30 owner, at public sale by competitive Fleming, #62 Becky Sullivan, #207 Lisa A.M. at the Extra Space Storage facility bidding on JUNE 13, 2012 at 11:00AM Dodson, #213 Remita Trowery, #276 located at: at the Extra Space Storage facility Felicia Hardy, #511 Dena McGhee, 4961 Covington Way located at: #650 Marilyn Thompson, #713 Jackie Memphis, TN 38128 900 N. GERMANTOWN PKWY Call 683-NEWS Williams, #RV14 Tracy Lemon (VIN 901-372-0864 CORDOVA, TN 38018 #IJ4GW68N7XC580074 Sold for parts The personal goods stored therein by 901-757-8988 only). the following may include, but are not The personal goods stored therein by Purchases must be made with cash only limited to general household, furniture, the following may include, but are not and paid at the time of sale. All goods boxes, clothes, and appliances. #002 limited to general household, furniture, are sold as is and must be removed at Jerrica McLauren, #019 Janie Hart, the time of purchase. Extra Space Stor- #212 Farrell Lee, #298 Tamara S Jones age reserves the right to refuse any bid. Strong, #327 Ivy Mitchell, #402 Farrell Sale is subject to adjournment. Lee, #467 Sheree Lewis. June 2, 2012 Mhn11253 Purchases must be made with cash only and paid at the time of sale. All goods NOTICE OF PUBLIC SALE OF are sold as is and must be removed at PERSONAL PROPERTY the time of purchase. Extra Space Stor- Notice is hereby given that the under- age reserves the right to refuse any bid. signed will sell, to satisfy lien of the Sale is subject to adjournment. owner, at public sale by competitive June 2, 2012 Mhn11257 bidding on JUNE 12, 2012 at 11:15 A.M at the Extra Space Storage facility PUBLIC NOTICE located at: NOTICE IS HEREBY GIVEN THAT THE 4805 SUMMER AVE UNDERSIGNED WILL SELL, TO SATISFY MEMPHIS, TN 38122 LEIN OF THE OWNER, AT PUBLIC SALE 901-682-1746 BY COMPETITIVE BIDDING ON JUNE The personal goods stored therein by 12, 2012 AT 11:45 A.M. AT THE the following may include, but are not EXTRA SPACE STORAGE FACILITY limited to general household, furniture, LOCATED AT: boxes, clothes, and appliances. 4994 RALEIGH-LAGRANGE LINDA ARMSTRONG #405; LATRICA MEMPHIS, TN. 38128 MOSLEY # 380; PAUL BRUCE #543 901-388-9272 Purchases must be made with cash only THE PERSONAL GOODS STORED and paid at the time of sale. All goods THEREIN BY THE FOLLOWING MAY are sold as is and must be removed at INCLUDE, BUT ARE NOT LIMITED TO the time of purchase. Extra Space Stor- GENERAL HOUSEHOLD, FURNITURE, age reserves the right to refuse any bid. BOXES, CLOTHES, AND APPLIANCES. Sale is subject to adjournment. B007 MAY HUNT, B016 ROBERT June 2, 2012 Mhn11254 THOMAS, B029 JOE HOWARD, B058 ROBIN ROUSSEAU, C036 LAKEISHA ANN NOTICE OF PUBLIC SALE OF JOYNER, C044 JAMIE COLLIER. PERSONAL PROPERTY PURCHASES MUST BE MADE WITH Notice is hereby given that the under- CASH ONLY AND PAID AT THE TIME Toa visitor, itÕs barren desert. signed will sell, to satisfy lien of the OF SALE. ALL GOODS ARE SOLD AS IS owner, at public sale by competitive AND MUST BE REMOVED AT THE TIME Toour supporters, itÕs bustling with life. bidding on June 12, 2012 at 10:45 OF PURCHASE. EXTRA SPACE STORAGE A.M. at the Extra Space Storage facility RESERVES THE RIGHT TO BID. SALE IS located at: SUBJECT TO ADJOURNMENT. 7301 Winchester Rd. June 2, 2012 Mhn11259 Even the most arid landscapes are home to Earth’s amazing species. The Nature Memphis TN 38125 Conservancy is dedicated to protecting the variety of plant and animal life on Earth— (901) 759-1736 NOTICE OF PUBLIC SALE OF The personal goods stored therein by PERSONAL PROPERTY even when found in the most unlikely places. The Nature Conservancy has protected the following may include, but are not Notice is hereby given that the under- 117 million acres in 28 countries. With your support, that number will keep growing. limited to general household, furniture, signed will sell, to satisfy lien of the boxes, clothes, and appliances. owner, at public sale by competitive Visit nature.org or call 1-888-2 JOIN TNC. Unit #52 TERESA SPILLERS bidding on June 12, 2012 at 9:30 #105 CANDACE HENDERSON A.M. at the Extra Space Storage facility #253 CASSANDRA COHN located at: #329 JAMES ROBERTSON 2625 Mt. Moriah Rd. San Rafael Desert, Utah © David Muench #335 SHELIA WINTERS Memphis, TN. 38115 4His message is made possible by the generous support of this publication. 34 June 2-8, 2012 www.thememphisnews.com

opinion City Needs to Keep Lessons from FUBU Founder Last week we spotlighted the opportunities we will have to strengthen upcoming public celebration, National Memphis. Next he highlighted the power Eye on Wells Fargo Cancer Survivors Day, along with the of “everyday heroes.” Daymond shared his Ovarian Cancer Awareness Foundation, story of growing up in the inner city, only he out-of-court settlement on the churn from refinancing and the which encourages national awareness seeing drug dealers, pimps and gangs by the city and county with cash it generates. The industry has to and promotes education about ovarian because they were the ones visible during Wells Fargo of the lawsuit break its addiction to refinancing as a cancer. Inspired by a recent visit from the day. The “everyday heroes” wake up alleging discriminatory and profit center. Daymond John, this week let us discuss a early, go to work, come home and spend racially motivated home Wells Fargo spokesmen are avoiding few topics from his presentation that we time with their families. For Daymond, his Tmortgage refinancing practices has the term settlement. That is troubling. can carry forward for our city. perspective and model for great potential. It is common in such instances for the Daymond is an entre- success was changed as he But there should be more to it than defendant to stipulate that the settle- preneur, investor, television witnessed the emergence of dollar figures. ment does not mean that they are in personality, author and a prominent businessman liv- The city and county have an op- any way admitting to any wrongdoing. motivational speaker. He is ing in his neighborhood. portunity to create the basis for what The word parsing by Wells Fargo sug- best known as the founder, As Deborah Hester with amounts to a reality zone for those gests the company wants to emphasize president, and CEO of the Girls Inc. puts it, “you can- considering home ownership. The the dismissal at the expense of a very clothing company, FUBU (For not be what you cannot see.” money from the settlement creates the important middle ground. Us By Us), and appears as an Jeremy Park It is incumbent on us to do potential for home ownership to return That means it will be up to the city investor on the ABC reality giving back a better job of showcasing to areas of the city where it is difficult and county to take the additional steps television series “Shark Tank.” and engaging our “everyday for developers to find those who finan- necessary outside the settlement. Growing up in Hollis, Queens, the birth- heroes” who are the real role models for cially qualify to buy a home rather than The considerable effort mounted place of hip-hop, Daymond was surround- youth. In demonstrating proper values, rent it. As a result, they are reluctant to by the city and county to raise this is- ed by groundbreaking musical acts, like habits and traits of success, we can set build in those areas. sue will have been wasted if would-be Run DMC and Salt-N-Pepa. Their music better examples and expose our youth to The idea that home ownership is for homeowners continue to sign off on and the lifestyle these groups were creat- new experiences and opportunities. everyone should be tempered. It wasn’t mortgages whose terms might as well ing served as the catalyst for his clothing Last is the higher-cause influence. that long ago that home ownership ef- be a foreign language. line, which ultimately changed the fashion Daymond described a music tour that forts pushed by our local governments There will be several million dol- world and has now reached more than $7 swept the nation with eclectic groups and others across the country pursued lars in grants that the city and county billion in sales. blending men and women, different races the idea that home ownership was not governments can use just about any While in Memphis, Daymond stressed and religions. When we set our sights high only for everyone but was for everyone way they want to. We think the money the importance of mentoring. As a com- and embrace our diversity with a shared at once. should be devoted to financial literacy munity, mentoring must be woven into vision, we have an amazing chance to col- If those efforts hadn’t been aimed efforts that have built strong founda- our DNA and foundational fabric, both laborate and accomplish the seemingly primarily at building and restoring tions in recent years. with youth and up-and-coming leaders, impossible! So, if you are an “everyday communities, perhaps the manipu- The ability to have some ba- as well as with entrepreneurs. To foster hero” seeking a higher-cause influence, lation that followed by speculators, sic knowledge of what is at stake innovation, we must be courageous and just let me know and we will get you more flippers and others looking for a quick in refinancing is something every willing to embrace failure. If we learn engaged in Memphis. buck might have been acceptable to would-be homeowner should have. some degree. That knowledge would be the most from our mistakes, we cannot be afraid to make them and accept them. Tying this But that also assumes that mea- valuable outcome of the raising of this Jeremy Park, director of the Lipscomb sures designed to let the buyers know entire issue because in a few years, the back to mentoring, the more we can bring Pitts Breakfast Club, www.lpbreakfastclub. exactly what they were getting into new homeowners that result from this our business and community leaders com, can be reached at jeremyp@lpinsur- were in plain language, in place and en- settlement will get a phone call or letter together with youth and entrepreneurs ance.com or followed on Twitter at @ forced. There is still too much emphasis or both offering them a deal. to share successes and failures, the more lpbreakfastclub or @jeremycpark.

Everything’s Possible at Golf Tourney, Even a 58

WHAT THESE GUYS DO ISN’T up with him on his 10th hole. He made St. Jude would today post a cure rate professional. It's impossible an eagle putt that was harder to read for all childhood cancers of 80 percent? The other day, I played in a golf than James Joyce and had more twists It was 20 percent when the hospital scramble – a format where four players and turns than Dickens. He laughed. was founded. Who could hope to cure hit every shot, pick the best, and turn in His playing partner, Dave Stockton, 94 percent of acute lymphoblastic one score at the end. And we had two laughed. He birdied the next hole, and leukemia cases and 95 percent of both MEMPHASIS mulligans each (do-overs) and a toss dan conaway the one after that, going eight under retinoblastoma and Hodgkin lymphoma (a throw yourself out of trouble when in a stretch of seven holes. We were all cases? you’ve just hit a shot so nauseating you tee boxes – on Colonial’s south course, laughing by then. We should all be laughing. want to toss). We played well, making then the longest course on the PGA After all, it was impossible. Next week, the pros will pull it back putts and clutch shots, using our mul- Tour. From way back there, with just a It was the Danny Thomas Memphis and let it rip for the kids, and every one ligans and tosses wisely, and turning in little wind in your face, you can’t catch a Classic then. Next week it’s the FedEx of them thinks there’s a 58 out there. a score two or three strokes better than taxi to the green in regulation and cad- St. Jude Classic played at TPC South- There is, and if the first one is here, you we thought ourselves capable of – 62, dies are using binoculars to find the pin. wind. Then, saving as many kids as don’t want to miss it. 10 under par. Geiberger birdied 11 holes and St. Jude Children’s Research Hospital After all, there’s beer, pronto pups Three stokes worse than what Al eagled another, using a wooden driver saves now was just a dream for Danny and laughter. And everything’s possible. Geiberger did all by himself in 1977. and blade irons more unforgiving than Thomas. Then, the kind of break- I’m a Memphian, and this is our stop We shot our 62 on Windyke’s east Lorena Bobbitt. throughs that give lost lives back were on the PGA Tour. course from forward tees using metal A score of 59 is impossible. And just a family’s desperate hope. Dan Conaway is a lifelong Mem- drivers with heads the size of anvils that’s why he was the first to ever do it After all, it was impossible. phian, longtime adman and aspiring and irons that look like they were in tour competition. And I saw it. Who would dream that Chip Beck, local character in a city known for them. engineered by NASA. Geiberger shot It was a Friday and the whole course David Duval, Paul Goydos and Stuart Reach him at dan@wakesomebodyup. his 59 from the tips – the back of the was buzzing about Geiberger. I caught Appleby would later post 59, and that com. www.thememphisnews.com June 2-8, 2012 35

health care & biotech HMCT, Coke Partner to Tackle Obesity

AISLING MAKI | The Memphis News

ealthy Memphis Common Table, working to reduce their intake of calories on the organization’s board, who said the Frazier said Healthy Memphis Com- a nonprofit dedicated to improv- and sugars. company was working to reposition itself mon Table is also in talks to produce Hing the health of Memphians, “I did a lot of homework on this,” Fra- in the market with low-calorie and no- a publication centered on Coca-Cola’s recently announced it had formed a new zier said. “We started to look at some op- calorie drinks. theme of “Live Positively.” partnership with Coca-Cola Co. portunities where we could help with our “She said maybe Healthy Memphis “At this point, what we said to Coke is The announcement came last week brand to really help organizations that are Common Table could be an asset to them that we’re willing to talk about a partner- during the organization’s annual meeting really trying to reposition themselves in and we could work together, helping ship that has us work with them on posi- at the University of Memphis to discuss the marketplace around nutrition and low them move in the direction their trying tive healthy living, with a focus around health-related challenges facing citizens. calories. to move,” Frazier said. “We’ve actually zero calorie drinks,” she said. “That’s kind The Coca-Cola partnership may seem “The beverage and food industry has had three very intense, strategic planning of where we framed it. We still don’t know like an unusual alliance, given that one agreed to take out billion of calories over meetings with them.” exactly what that looks like yet.” of Healthy Memphis Common Tables’ the next five years as a result of Michelle Frazier said the partnership does not Frazier said Healthy Memphis Com- main strategies is to promote healthy Obama’s focus on nutrition and obesity in involve any exchange of money; it’s about mon Table emphasizes better choices. lifestyle changes in a population that children.” educating residents about healthier drink And while one way the organization struggles with a host of chronic health is- She said Coca-Cola’s newer product alternatives, as well as supporting a com- emphasizes that may include low or sues, including obesity, hypertension and offerings, such as Coke Zero, represent a pany that employs Memphians at its 499 no-calorie drinks and other Coca-Cola diabetes. larger movement in the food and bever- S. Hollywood St. facility. products, it also includes encouraging But Renee Frazier, CEO of Healthy age industry to reduce caloric intake “We were very clear that we want to residents to consume plenty of Memphis’ Memphis Common Table, said the orga- and offer healthier choices, also citing stick with the zero-calorie approach right high-quality drinking water, considered nization is only partnering with Coca- McDonald’s mini-meals and inclusion of now for the (Healthy Memphis) Common some of the best in the country. Cola on the Atlanta-based company’s low fruit in Happy Meals. Table,” she said. “There’s no silver bullet,” she said. and zero-calories drinks – which do not “You’ve got to give the food industry “That’s the vision we’ve taken, and “Obesity in our community is deeply contain sugars or corn syrup – as part of credit,” Frazier said. “They’re looking at we’ve looked at this very thoroughly. We rooted in how we eat and drink. Ameri- Healthy Memphis Common Table’s cur- what they offer and they’re also trying spent a lot of time talking to their leader- cans are very arrogant. rent focus on calorie reduction to address to balance their business model. We’re ship, we’ve walked through their plant to “We’re used to choices and we don’t the community’s obesity epidemic. seeing a significant movement in the understand what they’re doing – under- respond well to people telling you, ‘You She said many products made by industry overall.” stand what they do for our economy here can only do this or that.’ We have to Coca-Cola, which Frazier said is “very She said the idea of the Coke partner- – and also what they’re doing to maintain redesign the environment so people know committed to rebirthing their portfolio,” ship was brought to Healthy Memphis the integrity of their business model and these are the better choices. This is a are appropriate alternatives for people Common Table by a registered dietician their workforce.” process.”

THE FIRM THAT THE HEALTHCARE ƫƫO.

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12-BB-254 MemphisDailyNews HalfPG Ad L mm.indd 1 5/22/12 12:27 PM 36 June 2-8, 2012 www.thememphisnews.com