Morgan Keegan Sold to Raymond James in Blockbuster $930M Deal PAGE 18

January 14-20, 2011, Vol. 5, Issue 3 12 Health Care & Biotech St. Jude celebrates 50th anniversary

31 Food & Wine Fredric Koeppel »looks at the Pinnacle seeks pay Cuts: Memphis-based regional air carrier Pinnacle Airlines Corp. is asking restaurant industry union employees to take a 5 percent salary reduction. » Page 11 forecast for 2012. Trading Hands Morgan Keegan sold to Raymond James in blockbuster $930M deal PAGE 18

Photo: Lance Murphey The fate of Morgan Keegan & Co. Inc., whose Downtown tower is pictured here, and its 1,000-plus employees now rests in the hands of St. Petersburg, Fla.-based Raymond James, which bought the Memphis investment firm from Regions Financial Corp. for $930 million. While Raymond James said it plans to base its Fixed Income and Public Finance business in Memphis – meaning many local workers might keep their jobs – the full extent of the deal won’t be known for some time.

20 Sports Without power forward Zach Randolph in the lineup, the Memphis Grizzlies are limping into this year’s nationally televised Martin Luther King Jr. Day game at FedExForum.

DAILY DIGEST: page 2 financial services: page 8 DUNAVANT AWARDS page 17 small business: page 22 law talk: page 24

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MAAR: Home Sales Drop division. plosive devices used in Iraq and Afghanistan else will be.” Kimberly-Clark brand name products against U.S. and other coalition troops. Charles Duke, owner of the Beignet 10 Percent in December include Kleenex, Scott, Huggies, Pull-Ups, Two electronic components shipments Café, opened the New Orleans-inspired Memphis-area home sales for December Kotex and Depend. The corporation’s 2010 to Mayrow General Trading in Dubai were restaurant in April 2009. fell 10 percent from a year ago, with 898 sales were $19.7 billion. stopped before their delivery in 2006 by the Crow said Duke was gracious to the total sales recorded in the Memphis Area Matthew Stauber with Colliers Interna- Commerce Department’s Bureau of Industry community for its support but was unable Association of Realtors MAARdata property tional Chicago and Andy Cates with Colliers and Security. to continue with the business for personal records database, which includes records of International Memphis handled the transac- Earlier that year, the bureau had spe- reasons. all property transactions in Shelby, Fayette tion for the tenant. cifically denied such exports to Mayrow “It was just due to Charles’ other obliga- and Tipton counties. Tim Moore, vice president of leasing in based on information that the company tions and he had the opportunity to make Total sales for all of 2011 dropped 8.4 Industrial Developments International’s was buying the components specifically to a change,” Crow said. percent from 2010, with 12,790 recorded Memphis office, represented the landlord, make IEDs. Crow, a Nashville investor, bought the sales. Teachers Insurance and Annuity Asso- The other violations were three ship- 7,318-square-foot land at 124 G.E. Patterson Average sales price year-over-year for Q4 ciation – College Retirement Equities Fund ments in 2004 of printer components from in 2007 and completely renovated it, adding was down 7.1 percent and for all of 2011 was (TIAA-CREF). the U.S. to Syria without an export license. 2,000 square feet onto the building. Prior off 2.9 percent at $125,448. IDI handles leasing and management to the Beignet Café, the space housed the Inventory was down 6.2 percent from for Airways Distribution Center, a master- Tri-State Defender. the previous month, with 7,194 units listed planned, Class-A business park built in 2005 Double J Smokehouse and Saloon plans for sale. Sales volume from 2010 to 2011 fell near Memphis International Airport. Double J Smokehouse to open Feb. 4, Crow said. 11.1 percent to $1.6 billion. Replacing Beignet Cafe

Beignet Café and Blues Bar in Down- FedEx Pays $370K town Memphis’ South Main Historic Arts Gwin Scott Leaving Kimberly-Clark Signs To Settle Export Claims District is being replaced with a new res- EmergeMemphis Southaven Lease taurant venture. Memphis-based FedEx Express, a sub- The two-story dining room at 124 G.E. There’s no digital clock on the wall at Kimberly-Clark Corp., a global manu- sidiary of FedEx Corp., has come to terms Patterson Ave. is being filled by Double J local business incubator EmergeMemphis facturer of hygiene and personal health with the U.S. Department of Commerce Smokehouse and Saloon. The new eatery for its president like there is for the compa- products, has entered the local industrial on six alleged civil violations of U.S. export – owned by Jeff Stamm and other investors nies housed there, where all the clocks on a market in full force. regulations. – will feature a variety of ribs and steaks, ground level wall show a countdown until Construction for tenant improvements FedEx Express will pay a $370,000 civil said building owner Norma Crow, who the time when the companies will be as- is under way in Airways Distribution Center penalty. leases the space. sumed to be established enough to branch Building D, 228 Access Drive in Southaven, The allegations involved unlicensed ex- “We’re in there remodeling right now out on their own. where Dallas-based Kimberly-Clark has ports to Dubai and Syria including electronic and it’s going to really be nice,” Crow said. But if there were a clock for president leased 556,000 square feet for its health care components used in making improvised ex- “I’m excited about it and I think everybody Gwin Scott, it would show he’s reached his

REVIVING 5,000 YEARS OF CIVILIZATION.

SHEN YUN. For Chinese, the words evoke a sense of wonder, magic, and the divine. To audiences who have seen it, they recall the experience of a lifetime—a moment so powerfully beautiful it touches the soul. For 5,000 years in China, culture was heralded as a divine gift. Its glory was long the inspiration of countless artists and poets, until this heritage was nearly lost… Today, New York-based Shen Yun Performing Arts seeks to revive this once-majestic tradition by creating a production worthy in its beauty of this noble history—something that enriches the lives of audiences in powerful, lasting ways. “A great boost. Discover the grandeur of a fantastically rich culture, that of classi- — Marguerite Piazza cal China, brought to life through brilliantly choreographed dance Famous Soprano and Philanthropist and mesmerizing, all-original orchestral compositions. Magniﬁcently cosumed dancers—the world’s elite—move in poetic arrangements that evoke pastoral beauty, imperial drama, and the glory of an ancient civilization. This season, discover what art was meant to be. Discover Shen Yun. MARCH 6-7 7:30PM, 2012 CANNON CENTER Hotline: 1-888-389-1614 ALL-NEW SHOW | WITH LIVE ORCHESTRA Online: shenyun2012.com Price: $50, $60, $80, $90, $120 ShenYun2012.com www.thememphisnews.com January 14-20, 2012 3

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time to move on. Scott is shifting his role Bartlett operations by investing $4.8 mil- International Paper Former Miss. Gov. Chief Of from president to adviser so he can pursue lion in the company’s existing building on Declares Q1 Dividend Staff Join Butler Snow new business opportunities. Wolf Lake Road. Over a five-year period, It ends his seven-year run leading the the expansion will create 40 jobs centered Memphis-based International Paper has Former Mississippi Gov. Haley Barbour organization whose mission is to shep- on manufacturing medical device proto- declared a quarterly dividend of 26 cents per and his former chief of staff, Paul Hurst, have herd startups into sustainable existences types. share for the first calendar quarter of 2012. joined the law firm of Butler, Snow, O’Mara, via everything from the benefits of shared Tennessee Gov. Bill Haslam, Economic The dividend is payable March 15 to holders Stevens & Cannada PLLC. office space to the proximity with fellow and Community Development Commis- of common stock at the close of business The two men will work with the firm in early stage company owners in the Emerge- sioner Bill Hagerty and officials from Shelby on Feb. 15. the areas of economic development, govern- Memphis building, 516 Tennessee St., in the County made the announcement in Nash- IP executives also announced a $1 per- ment relations, strategic planning and busi- South Main Historic Arts District. ville Wednesday, Jan. 11. share regular quarterly dividend to March ness development. Butler Snow, which has Scott said he’s thought about the deci- Launch Medical focuses on helping 31 on the cumulative $4 preferred stock of a presence in Memphis, is one of the largest sion for the last several months and has surgeon-inventors develop ideas into mar- the company. That dividend is payable on law firms in the Southeast. a range of opportunities he’s currently ketable products. March 15 under the same terms. Barbour also is joining BGR Group, a lob- exploring. The company began in 2007 as a bying firm he cofounded. He also plans to hit EmergeMemphis board chair Amy How- medical device incubator, offering surgeon- the speaker circuit at political and business ell, CEO of Howell Marketing Strategies, said inventors medical device development events and has written a book about leader- Scott’s accomplishments at EmergeMem- opportunities. MSO Associate Conductor ship during Hurricane Katrina. phis have been many, from entrepreneurial In 2010, the company shifted from to Heading to Seattle Symphon recruitment to strategic alignments with the manufacturing market, partnering FedEx Corp. and Startup Tennessee. with Elite Medical in a strategic alliance Stilian Kirov, associate conductor for the The EmergeMemphis board is in the to manufacture and distribute medical Memphis Symphony Orchestra and music FedEx’s Jackson Named process of figuring out what the next man- implants and instrumentation. director of the Memphis Youth Symphony Top Thought Leader agement step should be. Clay Banks, director of economic devel- Program, has been appointed assistant con- opment for the Bartlett Area Chamber of ductor for the Seattle Symphony. Mitch Jackson, FedEx Corp.’s vice presi- Commerce, said Northeast Shelby County Kirov will begin his new assignment in dent, Environmental Affairs & Sustainabil- over the past decade has emerged as the September under Seattle Symphony music ity, has been named one of 2012’s Top 100 Terminix, TruGreen to Add state’s life sciences corridor and a leading director Ludovic Morlot. He will finish out Thought Leaders in Trustworthy Business Dallas, Atlanta Jobs center for innovation in medical device obligations with the MSO in the meantime. Behavior by Trust Across America. technology. Last year Kirov won a prestigious con- The Top 100 Thought Leaders represent The Memphis-based ServiceMaster Co. ducting fellowship with the Seattle Sym- a group that can transform and reverse the plans to hire more new employees in Dallas phony with duties for the current season. cycle of mistrust in business. and Atlanta for its TruGreen and Terminix His next assignment as a fellow will be to At FedEx, Mitch Jackson develops the divisions. Fisher & Phillips Law Firm conduct University of Washington student sustainability strategy and vision to the ServiceMaster, which is the parent com- Opens Memphis Office compositions Jan. 31 at Benaroya Hall, the company minimizes its environmental pany of a set of commercial and residential Seattle Symphony’s concert hall. footprint while still delivering outstanding service companies, recently held job fairs Fisher & Phillips LLP, a national labor The MSO has begun a search for a new customer service. for new positions in Memphis. and employment law firm, has opened an assistant conductor to begin in September. Jackson spearheaded the implementa- All of TruGreen’s 110 new jobs are in Dal- office in Memphis. tion of hybrid electric vehicles for FedEx, las, and include sales, sales management The Memphis office will be led by em- which launched hybrid electric technology and customer-retention positions with the ployment attorney Jeff Weintraub and will in the commercial vehicles’ marketplace. lawn-care subsidiary of ServiceMaster. initially do business as “The Weintraub Firm Music Festival Returns In conjunction with the FedEx Government The new Terminix jobs, which total 75, PC, a partner in Fisher & Phillips LLP.” He’ll For Second Year Affairs department, he helped successfully are in the Dallas area as well as the Atlanta be joined by another partner, Craig Cowart, push legislation for fuel economy standards/ area. who comes from Kiesewetter Wise Kaplan The Fareveller Music Festival is return- greenhouse gas requirements in commercial The Dallas jobs are inside sales and col- Prather PLC. ing to Memphis after its kickoff in 2011 trucking. lections at the company’s Lewisville, Texas Weintraub has more than 30 years of that brought more than 1,200 people to the With FedEx for more than 20 years, Jack- contact center. The Atlanta jobs are at the experience representing public and private three-day event. son previously was named to the 2010 and Norcross, Ga. contact center. employers. March 22 to 24, Young Avenue Deli, 2011 Top 100 Thought Leaders in Trustwor- For nearly 20 years, Cowart has repre- Newby’s and Otherlands will showcase local thy Business Behavior. He was also named sented management clients in state and and national music talent. The initial lineup to Ethisphere Institute’s 2009 list of the 100 federal employment litigation and in ad- will be released Jan. 16 at www.fareveller. Most Influential People in Business Ethics. Launch Medical Planning ministrative proceedings before state and com. Sponsors for this year’s festival include Trust Across America culled its list from $4.8M Expansion in Bartlett federal agencies. Stolichnaya, Sailor Jerry Spiced Rum, South nominations by more than 150 professionals Fisher & Phillips also announced Tues- of Beale, the Memphis Flyer and the Mem- across the country. The list was narrowed Medical device development company day, Jan. 10, that it opened an office in phis Chapter of the National Academy of through a vetting and independent judging Launch Medical is planning to expand its Boston. Recording Arts and Sciences. process.

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Haslam Focuses On The steamy Education During Memphis “Land of Fire” con- nects visitors with FROM THE BLOG Tennessee Gov. Bill Haslam told charter t h e p re h i s t o r i c school leaders from several states Thursday, home of triceratops Jan. 12, that the state has the “political will” and T-Rex. Time for Grizz to Ratchet Up Grit and Grind to continue education reform, including a The exhibit commitment to charter schools. takes into account Haslam spoke in Memphis at the open- new research about Editor’s Note: “From the Blog” is a weekly feature that highlights ing of “Opportunity Days,” a two-day climates in which some of the enterprising work our staff and contributors post on gathering in Memphis held by the state’s dinosaurs were able The Daily News blog, blog.memphisdailynews.com. Achievement School District. The event to survive and thrive. The discovery of encourages charter schools leaders to apply evidence in the Arctic is causing scientists to run low-performing schools that become to reconsider old theories about dinosaurs part of the ASD. only living in tropical climates. DON WADE | Special to The Memphis News The state is in the process of selecting Accordingly, another part of the exhibit two Memphis City Schools – an elementary called “Land of Ice,” invites visitors to meet n Grizzlies coach Lionel Hollins’ words, “We’re just trying to tread school and a middle school – that will be run troodon and edmontosaurus, which made Iwater.” as charter schools phased in a grade or two their homes in the cold climate of Alaska. at a time over several years, starting with the The exhibit – created by Minnesota Hollins said this after the Grizzlies beat a literally defenseless 2012-2013 school year. Children’s Museum and is sponsored locally Sacramento Kings team on Jan. 3 without power forward Zach Ran- Haslam said the state is committed to by Kronos Energy Solutions – runs through dolph, and before word got out that Randolph will be sidelined at charter schools as part of education re- May 12. form, while being aware of opposition to least six to eight weeks with a torn right medial collateral ligament the schools in both rural and urban school (MCL). districts. The news on Randolph’s injury feels like the Grizzlies were thrown Haslam also went to the Lambuth Uni- Commissioners Confirm a weighted life preserver. It’s difficult to imagine how they will suc- versity campus in Jackson, Tenn., Thursday County Computer Chief for a flag-raising ceremony marking the cessfully navigate the Z-Bo-less portion of their schedule and come formerly private college’s conversion to a Shelby County commissioners have out the other side with more wins than losses. state college, The University of Memphis approved the appointment of John Halbert This much seems clear: The goal of gaining a high playoff seed Lambuth Campus. Jr. as the county’s new chief information officer. Halbert comes to the job from Jefferson has been replaced with just trying to stay afloat until Randolph re- County, Ala., government. turns with the hope the team can then reach shore (the playoffs). Halbert will head the consolidated Darrell Arthur, who figured to be Randolph’s primary backup, is Organizations Team Up Shelby County computer and information out for the season with an Achilles injury. Point guard Mike Conley To Provide Kids Shoes technology system created last year after considerable debate between the adminis- just got back on the court and is still nursing a bad wheel (ankle). Samaritan’s Feet, Lipscomb Pitts Break- tration of Shelby County Mayor Mark Luttrell “This is not a team that has one of those players who’s got com- fast Club and the Memphis Grizzlies will and county commissioners. mercials and a deal with T-Mobile,” said swingman Sam Young, who team up Friday, Jan. 13, to provide new shoes Luttrell favored a CIO with more author- and socks to 200 Memphis children. ity over elected officials outside the county will have to play a huge role if the Grizzlies are to avoid falling out The gifts will benefit children who par- administration, including court clerks. The of the playoff chase. “This is a blue-collar team. You know on any ticipate in organizations that include Girls commission ultimately approved an agree- given night you can depend on a different guy to snatch down that Inc., Catholic Charities of West Tennessee, ment that allowed the clerks some degree Building Blocks Mentoring Program and of autonomy in the information technology rebound or hit the big shot.” Refugee Empowerment Program. they use. In other words, it probably has to be a different guy every night. The children who will receive the items The Grizzlies relied on grit and grind a year ago and it has become have been selected by each participating the team’s theme/marketing slogan. But marketing slogans don’t organization based on personal and family hardship and circumstances. Memphis Chamber Wins win games. The Grizzlies will have to play even harder – and more O.J. Mayo and Josh Selby of the Grizzlies Site Selectors Award together – than they did last season. will join Lipscomb Pitts Breakfast Club members from 4 p.m. to 6 p.m. in the grand lobby The Greater Memphis Chamber’s eco- To read the rest of this post, visit blog.memphisdailynews.com. of FedExForum. Manny Ohonme, founder of nomic development team has won the South Carolina-based Samaritan’s Feet, also Excellence in Economic Development will be present. Award in the Metro category from the Site This is the fourth year the Grizzlies have Selectors Guild. hosted the Samaritan’s Feet giveaway as a The guild is a professional association tip-off to the Martin Luther King Jr. holiday made of up of site selection consultants from weekend and the second year the Grizzlies around the world. Its mission is to advance and LPBC have partnered to offer this gift to the profession of international corporate 200 children. site selection by providing education, net- The Multi-Family working and other services to those in the Family for over 50 years. industry. Dinosaur Exhibit For professional property management, call the Comes to CMOM experts at Makowsky Ringel Greenberg, LLC. License Plate on Sale The Children’s Museum of Memphis will To Benefit the Arts host a traveling exhibit enabling children and adults to explore the habitats of dinosaurs, Tennesseans for the Arts, the statewide which once roamed the Mid-South. advocacy group that supports the Tennessee Contact Michael Greenberg Dinosaurs: Land of Fire and Ice, is set to Arts Commission, is accepting preorders for at 901.507.3429 or open Feb. 11. the winning design from “State Your Plate,” A Field Research Station allows children the statewide contest to create Tennessee’s Jimmy Ringel Multi-Family & Commercial Real Estate at 901.507.3421. to become paleontologists, uncovering fos- next specialty license plate. www.MRGMemphis.com sils with brushes and drawing the dinosaur Designed by Nashville artist Leslie environment using fossil rubbings and Haines, the plate is available for $35 at www. tracings. stateyourplate.org, with proceeds benefiting www.thememphisnews.com January 14-20, 2012 5

contributors January 14-20, 2012, VOL. 5, NO. 3 Get news daily from The Daily News, www.memphisdailynews.com. weekly digest

the arts throughout the state. The Leadership Academy raised $57,596 in Haines’ design was selected by the public donations during the last three weeks of from 10 finalists after two weeks of online 2011. voting. Haines designed the new plate in bill dries President & CEO response to TFTA’s launch of the “State Your Senior Reporter PETER SCHUTT Dries, from Memphis, has been a reporter for more than 30 Plate” contest in August. She is the academic years. His career stops include The Commercial Appeal, WHBQ General Manager Emeritus AM, WREC AM and WLYX FM 89 way back in the 1970s! He now director of graphic design and advertising for Lifeblood Offers Tickets ED RAINS covers legal issues and other news. The Art Institute of Tennessee – Nashville. To Civil Rights Museum 528-5277 | [email protected] Publisher The state requires that 500 people preor- ERIC BARNES der the plate before it becomes a permanent Lifeblood is partnering with the National option for Tennessee drivers. Advanced Civil Rights Museum to offer donors free Associate Publisher & Executive Editor JAMES OVERSTREET orders of the plate do not have to coincide admission to the museum in honor of the with drivers’ regular registration. life of Martin Luther King Jr. Managing Editor Lifeblood will hold a mobile blood drive LANCE ALLAN WIEDOWER from 7 a.m. to 3 p.m. on Martin Luther King Deputy Managing Editor Jr. Day Monday, Jan. 16, at the museum, 450 ERIC SMITH andy meek Velsicol Chemical Mulberry St. Those who donate blood that Senior Reporter Senior Reporter day will be given a voucher that entitles the Meek, from Memphis, covers politics, the business community BILL DRIES Lays Off 35 Locally and other news of general interest. He has won awards from donor and three family members free admis- the Tennessee Press Association and the Society of Senior Reporter Professional Journalists. Velsicol Chemical Corp. has laid off 35 sion to the museum through Jan. 23. ANDY MEEK employees at its Memphis operation, ac- Those who donate at any of Lifeblood’s 528-5279 | [email protected] Reporter cording to a notice filed by the company donor centers in the Memphis area from Jan. SARAH BAKER with the Tennessee Department of Labor 16 to 23 will be given a voucher good from and Workforce Development. Jan. 16 to 23. Reporter The layoffs occurred from July 1 to Dec. In addition, January is National Volunteer AISLING MAKI 15 and the company notified the state agen- Blood Month, and Lifeblood is encouraging Associate Editor cy Thursday, Jan. 5, according to the Worker community members to share stories of how KATE SIMONE Adjustment and Retraining report. blood donations have touched their lives. Lead Pressman Velsicol Chemical LLC is headquartered This includes donors, recipients, their family SARAH BAKER TOMMY COON REPORTER in Rosemont, Ill., with a manufacturing members and friends, health care providers, Sarah Baker covers commercial and residential real estate, Pressman operation in Memphis. Velsicol Chemical medical professionals and more. transportation and logistics. A native Memphian, she previ- ROBERT SHANNON Corp. re-branded as Genovique Specialties The stories can be submitted through ously worked for two regional magazines in Knoxville. 521-2464 | [email protected] Pressman Jan. 31 to [email protected]; 529- Corp. and Velsicol Chemical LLC in October CEDRIC WALSH 2008. 6330; mail to Jennifer Stanley/LifeStories, The company, a subsidiary of Arsenal c/o Lifeblood, 1040 Madison Ave, Memphis, Graphic Designer & Photo Editor BRAD JOHNSON Capital Partners, produces hexachloro- TN 38104; or in person at any of Lifeblood’s cyclopentadiene, an intermediate used six donor centers. Stories will be posted at Graphic Designer & Illustrator in agriculture products, and chlorendic www.lifeblood.org/lifestories. EMILY MORROW anhydride, used as a flame retardant in Senior Production Assistant reactive coatings.Products based primarily SANDY YOUNGBLOOD AISLING MAKI on cyclopentadiene are manufactured at REPORTER Production Assistant Velsicol’s Memphis plant. AOC Headquarters Earns Aisling Maki covers health care, the nonprofit sector and small LAURIE BECK business. Her career has included newspaper and magazine LEED Silver Certification writing, broadcast and new media. Administrative Specialist 528-8622 | [email protected] MARSHA PAYNE AOC LLC earned LEED Silver certifica- Senior Account Executive tion from the U.S. Green Building Council Leadership Academy JANICE JENKINS Secures $50K Matching Gift for the design, construction and operation of its world headquarters in Collierville. Account Executive The Leadership Academy surpassed its LEED stands for Leadership in Energy and ROBIN BENDER year-end Challenge Grant fundraising goal Environmental Design. Advertising Director by more than $7,000. The nonprofit, which AOC is a global supplier of resins, gel DON FANCHER is at 22 N. Front St. Downtown, provides coats, colorants and synergistic systems for JONATHAN DEVIN Business Development Manager emerging leaders with the tools, experiences composites and cast polymers. ARTS WRITER PATRICIA McKINNEY and connections they need to help make The 48,991-square-foot building is on 62 Jonathan Devin is a full-time freelance writer covering the arts, business, and life in the Mid-South. He is a singer, actor, Marketing Manager Memphis a city of choice and improve the acres and includes 98 office spaces, a 49-seat instrumentalist, painter, poet, and playwright. DONNA WAGGENER quality of life for its residents. training center, six conference rooms and an 528-8625 | [email protected] Circulation Coordinator A $50,000 matching gift was secured after in-house datacenter. KARITA CREWS

Controller PAM MALLETT

To reach our editorial department, e-mail: WHY PAY MORE [email protected] or call: 901-523-1561 FREDRIC KOEPPEL Freelance WRITER Published by: TO PRINT? THE DAILY NEWS PUBLISHING CO. Koeppel writes about restaurants and wine. He is a former arts and culture reporter for The Commercial Appeal and has been 193 Jefferson Avenue Memphis, TN 38103 in Memphis for most of his life. P.O. Box 3663 [email protected] Memphis, TN 38173-0663 Tel: 901.523.1561 $ $ Fax: 901.526.5813 3 10 www.memphisdailynews.com With Purchase Of $10 Or More With Purchase Of $30 Or More (1) Coupon Per Customer Per Day Code MN1 (1) Coupon Per Customer Per Day The Daily News is a general interest newspaper covering business, law, One per customer. Not valid with other offers. Expires 12/31/2012. government, and real estate and development throughout the Memphis metropolitan area.

The Daily News, the successor of the Daily LANCE MURPHEY Record, The Daily Court Reporter, and The PHOTOGRAPHER Daily Court News, was founded in 1886. Lance Murphey is an award-winning photographer and film- AUDIT PENDING maker. He has 20 years of experience including The Commercial Appeal, The Naples (Fla.) Daily News, the Associated Press, The New York Times and Bloomberg. [email protected] 6 January 14-20, 2012 www.thememphisnews.com

news

Government District Lines Now Blurred

Wharton preparing action plan to address redrawn county, state and federal district lines

BILL DRIES | The Memphis News by the Republican majority to completely vote on the plan by the full Senate was systems. Wharton was vocal in his belief eliminate the district of Senate Demo- scheduled for Friday, Jan. 13. that the provisions that created the cratic leader Jim Kyle of Memphis. Meanwhile, Democratic U.S. Rep. schools consolidation transition planning The first version of the proposal had Steve Cohen’s second look at the new commission were unfair because they did emphis Mayor A C Wharton paired Kyle in the same redrawn district district lines proposed by the Republican not include appointees to the body to be Jr. is expressing concern over as Germantown Republican Brian Kelsey majorities in Nashville for the state’s del- made by the Memphis mayor. Mrepresentation for the city of and it also would have eliminated the dis- egation to Washington prompted several He also said it was unfair that Shelby Memphis in the three levels of redistrict- trict of Memphis Democrat Reginald Tate. concerns on his part. County Republican legislators were seeking plans now pending – county, state and That changed when it became appar- Cohen said he was surprised his 9th ing to squelch the citywide referendum federal. Wharton wasn’t specific about ent that the Kyle-Kelsey matchup would District lost Memphis territory to the 8th on schools consolidation in which the his concerns, but he told the Memphis have meant a renumbering of the new District currently represented by Frog merger of the two public school systems Kiwanis Club Wednesday, Jan. 11, that he district and no incumbent. Jump, Tenn., Republican Stephen Fincher. was approved by Memphis voters. The will have an announcement soon on the So the change means the new dis- “Memphis has never been divided,” legislation that emerged in Nashville and issue. trict will keep the number 31 and Kelsey Cohen said earlier this week noting the was approved was amended to take out “I’m not going to specify,” Wharton won’t be up for election until 2014 when exception of some of Frayser that is in the any challenge to the referendum before said after his remarks to the group. “But I odd-numbered Senate seats are up for 8th District and part of Parkway Village in it was formally presented and then ap- am concerned and gravely so about how election. Tate’s District 33 number had the 7th District. proved. the current steps have diminished the been moved to Middle Tennessee. Now “As the Poplar Corridor has grown it The Shelby County Commission is voice of the city. There will be a precise that number has been assigned to what has become a second major retail busi- still debating a redistricting plan that action we are taking.” had previously been District 28 in the first ness area for Memphis – a second Down- could mean an extra commissioner for Wharton’s comment came as plans for proposal. town,” Cohen said. “To take that area out the county outside the city of Memphis. redrawing the district lines of the Tennes- The bottom line is one fewer state and put it into a rural district represented The commission represents all of Shelby see state Senate were amended this week Senate seat in the Shelby County delega- by Congressman Fincher from Frog Jump, County including the city of Memphis. tion from the Memphis part of the county. who has rural interests at heart and rural So far, no faction behind any of the three The state House proposal combines knowledge and no experience in Mem- dominant plans have the nine-vote, two- four Memphis Democrats in two districts, phis is a very surprising factor.” thirds majority necessary to pass their meaning a loss of two House seats for the Wharton’s concerns about the redis- particular plan on third and final reading. city in the Shelby delegation to Nashville. tricting plans mirror general concerns Three commissioners have filed a law- The redistricting amendments were he had at about this time in 2011 as the suit in Chancery Court over the deadlock. the first order of business for the legis- legislature debated changes to laws The commission is scheduled to hold lature as it reconvened this week. A final governing the consolidation of school a special meeting Wednesday, Jan. 18.

MANUFACTURING Hostess Files Bankruptcy Finance Genie The Associated Press

Says … ostess Brands Inc., the maker of In its filing with the U.S. Bankruptcy with more competition and the difficult Twinkies and Wonder Bread, is Court for the Southern District of New economic conditions, created a worsen- Hseeking bankruptcy protection, York, Hostess disclosed that its biggest ing liquidity situation that drove its need YOU ARE blaming its pension and medical benefits unsecured creditor is the Bakery & Con- to reorganize. obligations, increased competition and fectionary Union & Industry International In its bankruptcy filing, Hostess also APPROVED! tough economic conditions. Pension Fund, which it owes approxi- listed its estimated assets between $500 Hostess operates a bakery in Down- mately $944.2 million. million and $1 billion and its estimated town Memphis as well as 35 other re- Its second-largest unsecured creditor, liabilities at more than $1 billion. NO CREDIT CHECK gional bakeries across the U.S. Central States, Southeast and Southwest The privately held Irving, Texas- FINANCING FOR: The Chapter 11 filing on Wednesday Areas Pension Plan is owed far less, about based company said that it will be able Desktop Computers comes just two years after a predeces- $11.8 million. to maintain routine operations thanks Laptops Computers sor company emerged from bankruptcy Hostess President and CEO Brian to a $75 million financing commitment Plasma Televisions proceedings. Driscoll said in a statement that the from a group of lenders led by Silver Point Tablets That company, called Interstate company is working to reach a consen- Capital LP. Reports had surfaced earlier And More Bakeries and based in Kansas City, Mo., sual agreement with its unions to modify in the week that the bakery company was its collective bargaining agreements. The planning to make such a filing. 98% APPROVED! filed for bankruptcy protection in 2004. It emerged in February 2009. company said that its current cost struc- CALL TODAY But Hostess said Wednesday that its ture is not competitive mostly because Copyright 2012 The Associated Press. (901) 334 8353 previous efforts to produce incremental of legacy pension and medical benefit All rights reserved. This material may change, including the prior Chapter 11 obligations and restrictive work rules. not be published, broadcast, rewritten or case, were insufficient. Hostess said those issues, coupled redistributed. www.thememphisnews.com January 14-20, 2012 7

news

health care & biotech

ric cancer patients and how comparing Bioworks Biz Association that different DNA would potentially uncover causes and effects. His work is really in mining that enormous amount of data.” To Host Panel Discussion Whitley said the work of Harmonyx has involved a human genotyping initiative that’s now being insured by BlueCross AISLING MAKI | The Memphis News on personalized medicine. Bioworks. BlueShield, making personalized medi- “Tomorrow's World of Customized Panelists for the event are Bob Bean, cine more affordable and readily available Healthcare” will take place Thursday, Jan. CEO of Harmonyx Diagnostics Inc.; Jack to patients through physicians’ offices. 19, from 11:30 a.m. to 1:30 p.m. at the Cox, vice president of business develop- And Whitley said Accredo, the he completion of the Human University Club Ballroom, 1346 Central ment for Accredo Health Group Inc.; and Memphis-based provider of specialty Genome Project in 2003 resulted Ave. Dr. Clayton W. Naeve, senior vice presi- pharmaceuticals, is fully taking advantage T in a more personalized approach Whitley said she anticipates the topic dent and chief information officer for St. of these breakthroughs in technology to to health care, with science moving away will attract a mix of members of the aca- Jude Children's Research Hospital. deliver more customized care to patients from a one-size-fits-all model and toward demic and research community, logistics “Memphis is doing a lot in the space with chronic conditions. customized care based on individual professionals, government and economic of personalized medicine, which is really It’s believed personalized medicine genotypes. development representatives, and the pioneering in terms of what’s happening will be one of the drivers behind the “More institutions and physicians legal community – which may be drawn in bioscience,” Whitley said. growth of Memphis’ biologistics indus- are taking advantage of this technology to new developments regarding intellec- St. Jude is involved in groundbreaking try, which involves the personalized to look at the efficacy of drugs and how tual property. work in the area of pharmacogenomics shipment of medical goods, including patients will respond to them based on “We usually get about 80 to 100 peo- – the study of how an individual’s genes vaccines, orthopedic devices and phar- genotyping,” said Regina Whitley, execu- ple, and one of the real goals of Memphis affects their body's response to drugs, maceuticals. tive director of Memphis Bioworks Busi- Bioworks Business Association is to bring Whitley said. “I would say the role of FedEx, UPS or ness Association, which works to advance those different groups together and create “They treat each patient uniquely other logistics players is really driving a the bioscience industry in the Memphis that networking for business develop- based on their study of the pharmacog- lot of health care business,” Whitley said. region through education, professional ment opportunities,” she said. enomics capabilities,” she said. “It’s a growth opportunity for Memphis as networking and advocacy. The panel discussion will be moderat- “Clayton Naeve is leading the data a center for biologistics.” Memphis Bioworks Business Associa- ed by Calvin Anderson, chief of staff and initiative, which is the pediatric genomics Visit www.bioworksbusiness.com for tion, which recently celebrated its 10th senior vice president of corporate affairs research project that St. Jude is conduct- registration information. Cost is $25 for anniversary, is gearing up to host its first for BlueCross BlueShield of Tennessee, ing with Washington University to study online registration and $35 for on-site panel discussion of 2012, which will focus who also serves on the board of Memphis the various forms of cancer in 98 pediat- registration.

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financial services Parkway Sells Most Analysts: First Horizon Of Local CRE Portfolio Should Post Q4 Profit To Hertz Acquisitions

ANDY MEEK | The Memphis News SARAH BAKER | The Memphis News

Consensus is bank will see major changes that include exiting its national arkway Properties Inc. has sold the majority of its mortgage business. Memphis portfolio, totaling 672,247 square feet, profit of 14 cents per share First Tennessee, the company’s banking unit, Pto Hertz Acquisitions Group LLC. has the largest share of customer bank deposits in The news is part of Parkway’s contract to sell a portfolio he parent company of First Tennessee Bank the Memphis area, according to the most recent of 15 non-core assets spanning 1.9 million square feet in reports fourth-quarter earnings and its full- market share report from the Federal Deposit Memphis, Jackson, Miss., and Richmond, Va., for a gross Tyear 2011 results this month, and Wall Street Insurance Corp. sale price of $147.5 million. Parkway announced the dispo- analysts are expecting another quarterly profit Last month, JPMorgan analyst Steven Alexo- sition of Falls Building, Forum I, II & III, and Toyota Center from the Memphis-based company. poulos raised his 2012 earnings-per-share estimate in the same Thursday, Jan. 5, statement that announced the The consensus guess among 27 analysts of for First Horizon. He also told clients in an analyst date of its fourth quarter 2011 earnings release and confer- what First Horizon National Corp. will report Jan. note that a meeting with Jordan left him “feel- ence call. 20 is a Q4 profit of 14 cents per share. That’s up ing better” about several aspects of the company, Jackson, Miss.-based Parkway is a real estate investment from a loss of 20 cents per share during the same including its capital return opportunities and long- trust (REIT) specializing in the ownership of office proper- period in 2010. term profitability goals, according to TheStreet. ties. Prior to the sale, Parkway owned 1.2 million square feet Fourteen cents is the same mark hit by First com. of office property in the Memphis metropolitan area, in- Horizon, the parent of the largest bank based in Alexopoulos also called First Horizon his top cluding the Renaissance Center, Forum, Morgan Keegan Tennessee, during the third quarter. choice among small and medium-sized U.S. banks Tower, Falls Building and Toyota Center. For all of 2011, analysts are forecasting the for 2012. The company announced in November it would sell the company to report a profit of 52 cents per share. First Horizon’s quarterly presentation this Renaissance Center, and local experts expected the deal to First Horizon is now a few years into a top-to- month comes at a time of renewed strength for close by 2011’s end. bottom overhaul that roughly began in 2007, the many of its regional banking competitors. That’s Parkway did not directly mention its remaining asset same year current CEO Bryan Jordan arrived at the according to Kevin Reynolds, a bank analyst with in Memphis – Morgan Keegan Tower – but did say it had company as its chief financial officer. Jordan was Memphis-based Wunderlich Securities. “one remaining asset located in Memphis totaling 337,000 named CEO in September 2008. “According to the FDIC’s 3Q11 Quarterly Bank- square feet. … The remaining assets in Jackson and Mem- That overhaul effort includes major investing Profile, fundamentals suggest that the U.S. phis will continue to be marketed for sale.” ments in technology, trimming headcount and banking industry is as strong as it has ever been, James R. Heistand, who took over as president and CEO retrenching around the company’s core businesses with abundant liquidity, emerging loan growth and of Parkway Jan. 1, said in the release that part of Parkway’s of regional banking and capital markets. a tangible common equity ratio at its highest level new strategy is to pursue an efficient exit from certain non- Jordan succeeded Mike Rose as chairman of since the Great Depression,” reads a recent analyst core markets. the First Horizon board Jan. 1. Rose will retire from note from Reynolds. “This was all present during “As a result of the thorough review of all of our markets, the board in April after reaching its mandatory a quarter that experienced severe turbulence in we determined that Jackson, Memphis and Richmond were retirement age of 70. financial markets, illustrating the ability of the U.S. non-core markets,” Heistand said. “A portfolio sale of these Rose has been First Horizon’s chairman since banking system to power through European dif- assets allows us to quickly realign our overall portfolio and January 2007, leading it through a turbulent period ficulties, primarily because there is minimal direct focus our resources and capital on building critical mass in in the industry that saw First Horizon implement exposure.” our remaining core markets.”

Could Bull Market Possibly be in Store for New Year?

Predicting 2012 owner wealth and reduce What could make us feel worse? Geopolitical and Natural Disasters – According to Wall bank stress. Positive trends European Debt Crisis – Hapless fiscal These events are largely unpredictable Street strategists, the S&P in housing would feel really authorities and central bank ineptitude in beyond that they occur periodically. Un- 500 will close somewhere good. Europe could enable a full-blown sover- foreseen events could make us feel worse. between 1167, for a loss of Employment – Monthly eign and banking system collapse leading 7 percent, and 1500, for a U.S. job gains averaged to a replay of 2008. However, Europe has So what will it be? gain of 19 percent. Assum- 78,000 in 2010, 130,000 unlimited monetary ammunition and more I’m an optimist, so I’ll side with con- ing earnings approximate in 2011 and perhaps fiscal ammunition than the U.S. currently sensus and vote for gains in 2012. Odds David Waddell $100 for the S&P 500, then the worldly 175,000 in 2012. While on to combat such a crisis. So while vulner- favor better economics and politics in applying a simple market investor an absolute basis it may able to a crisis, they can afford to prevent 2012. Systematic crisis threats in China P/E multiple tells you where take another three years to it. While I think a full-scale crisis is unlikely, and Europe will likely remain threats. we should be by year-end. If we feel no dif- re-employ those displaced by the great the threat of one certainly feels bad. Valuations appear fair enough to support ferent than we did at the end of 2011, then recession, positive trends in employment Chinese Economic Collapse – China advancement. However, the value com- the S&P 500 should finish at 1272 for a 1 would feel really good. has been over-saving and over-investing pression work that began in 2000 may not percent gain. Politics – American voters will have for decades. Many assert that China has be complete. The beginning of a secular the opportunity to “do something” about wildly overbuilt and saddled banks with (lasting longer than five years) bull market What could make us feel better? the do-nothing President and do-nothing sour loans. With the economy export- may not be in the cards for 2012, but I will Housing – Housing starts, sales and Congress in November. Between now reliant, any slowdown in global GDP will take the cyclical bull on offer. inventories have all shown trending and then we will hear countless debates translate into slower Chinese GDP. With improvement. Affordability has reached around restructuring our dysfunctional the overcapacity hangover from the last David Waddell, who is regularly fea- record highs. Price improvements have tax code and rationalizing our irrational stimulus the government may be hogtied. tured in the Wall Street Journal, USA Today lagged, due to high foreclosure and entitlements. Progress on either of those Since China provides about 30 percent of and Forbes, as well as on Fox Business short sales. Gains in housing conditions fronts, through a change in command or global GDP growth, a slowdown in China News and CNBC, is president and CEO of increase economic activity, increase direction, would feel really good. would make us all feel bad. Memphis-based Waddell & Associates. www.thememphisnews.com January 14-20, 2012 9 /QPG[/CTMGVU'ZVTC

Consumers are no longer as cau- debt. Now, they’ve arrived at the capacity to satisfy either needs or placed, or I need a new pair of high, and housing prices are tious about borrowing as they were point where some spending has wants in this environment. And the shoes, or I want a new television. down. I don’t worry about the in- Debt during the recession. They’ve bor- become necessary. For example, unemployment rate has come Consumers seem to have compart- creased consumer borrowing rowed more money 11 of the past the monthly automobile data show down a bit. So that helps, although mentalized these two categories of leading to a new debt bubble, as hangover? 12 months. The latest Federal Re- that cars are wearing out and need the improvement hasn’t been rap- debt. much as I worry that it could just serve figures are through October, to be replaced. id. Also, people have paid down be a short-term burst of activity. If and don’t cover the holiday shop- There’s also a certain fatigue debt over the past few years, so to- What risks threaten the increase it proves to be short, that will ping season. But it’s clear consum- with being frugal. The American tal debt outstanding is down. And in consumer borrowing? leave the economy growing at a ers have been spending more free- consumer has historically been a the cost of servicing debt is down, This trend could run its course if very sluggish rate. InsiderQ&A ly, and their confidence has been prodigious spender. And I think because interest rates are so low. the economy shows very little im- rising. David Joy, chief market they get to a point where they sim- provement in the next several Do you see any investment op- strategist with Ameriprise Finan- ply say, “I'm going to reward my- While consumer borrowing is on quarters. We’re seeing a burst of portunities arising from the re- cial, doesn't see a risk that con- self, after three years of being pret- the rise, that’s not been the case economic activity to make up for cent consumer spending sumer debt will get out of control. ty good.” with mortgage borrowing? some of the spending that was trends? Consumers have to some extent absent during the previous three Automobile stocks are attractive. HERE’S HIS TAKE: Why do you think consumers separated mortgage debt from years. Consumer spending is Auto sales aren’t yet back to pre- will be able to manage their re- consumer debt — debt from credit about 70 percent of the economy, recession levels, but they’re rising What’s driving the recent in- cent increased borrowing? cards, and auto and student loans. so the spending we’re seeing is at sustainable levels. The industry crease in consumer borrowing? They’ve been pretty good at hold- For most people, mortgage debt certainly helping. It’s not robust has streamlined and and down- Consumers spent very little over ing the line on spending for the last seems to be a separate issue from yet, but that’s not surprising, giv- sized, so it can certainly be profit- Joy the last three years, and paid down several years, so they have more the fact that my car needs to be re- en that unemployment remains able at these sales levels.

BEHIND THE BRAND WEBMD (WBMD) This year’s Small Dogs Based on recent yields Limping along T&T: 5.9 % Dow Dogs WebMD’s stock is looking ill. 5:(:>0:899.+ a long time for the positives to ceutical companies have recently .';+,'22+4A<./). ,/;+./-.+89>/+2*/4-5-8 translate into gains for investors. 2008 lost patent protection on blockbuster Cowen analyst Kevin Kopelman explains the name “Dogs.” 0 The Small Dogs, as drugs, which means they don’t need says the stock looks fairly valued for Some market strategists 2006 2007 2009 2010 2011 they’re known, had a as much advertising space. now and has a “Neutral” rating. recommend an investment 7+9:745,4+'72> 6+7)+49 897'9+->9.'9,5):8+854 -20 in 2011. They’ve beaten Thursday’s close: $26.68 the Dogs. This is how it Market crash 9.+#" 8+;+45, works: during times since 2000 and 24 52-week price range: $25.01 $58.55 ,/4'4)/'2)7/8/s Buy the Dogs. Then, -40 5,9.+2'89 >+'78. Price-earmings ratio: 18 every year or so, sell the But the Dogs don’t (based on the last 12 mos.) ones whose yields have always beat the indexes. 1-yr. stock change: -50.54% ,'22+45:95,9.+956 :8:'22>(+)':8+9.+>;+7/8+4 Money manager Michael O’Higgins, who popularized 1-yr. S&P 500 change: 0.7% and replace them with newer Dogs. You’re buying blue the strategy in his 1991 book, “Beating the Dow,” admits Market value: $1.5 Billion )./689.'9'7+5:95,,';57'4*9.'99.+57+9/)'22>.';+ that. But, he says, betting on big, dividend-paying Target stock price: $28.62 room to rise. companies in general, and the Dogs in particular, can In 20119.+5-85,9.+5<.'*'7+9:745, 6'>5,,/4;52'9/2+9/3+8 Average broker rating: percent including dividends. They included companies Even when it’s not working, you get good dividends. SELL HOLD BUY Source: Michael O’Higgins ';+'76+49+7+44/#5.4B" Source: FactSet Data through Jan. 11 Stan Choe AP

.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 27.20 7 31.94 30.12 +.13 +0.4 s s t -0.4 +13.7 15 1.76f MedcoHealth Sol MHS 44.60 8 66.38 60.25 -1.06 -1.7 t s s +7.8 -4.2 18 ... AutoZone Inc AZO 246.26 0 343.90 342.98 +1.11 +0.3 s s s +5.5 +35.9 17 ... Medtronic Inc MDT 30.18 7 43.33 38.85 -.34 -0.9 t s s +1.6 +9.9 12 0.97 BancorpSouth BXS 8.23 6 16.25 12.35 -.01 -0.1 s s s +12.1 -21.4 26 0.04 Merck & Co MRK 29.47 0 39.00 38.61 +.20 +0.5 s s s +2.4 +8.2 14 1.68f Boyd Gaming BYD 4.12 5 12.78 7.86 +.30 +4.0 s s s +5.4 -34.8 dd ... Mid Amer Apartments MAA 55.10 3 73.36 58.80 -1.94 -3.2 t t t -6.0 +3.4 58 2.64f Buckeye Technology BKI 19.94 0 36.13 35.02 -.50 -1.4 t s s +4.7 +67.2 14 0.24 Monsanto Co MON 58.89 0 79.97 80.27 +.42 +0.5 s s s +14.6 +11.7 25 1.20 Community Hlth Sys CYH 14.61 1 42.50 17.24 -.66 -3.7 t s t -1.2 -52.1 6 ... Mueller Inds MLI 31.08 7 47.72 41.54 +.90 +2.2 s s s +8.1 +28.8 17 0.40 Corrections Corp CXW 18.41 5 26.43 22.35 -.03 -0.1 s s s +9.7 -9.4 15 ... Navistar Intl NAV 30.01 3 71.49 40.08 +.10 +0.3 s s s +5.8 -35.5 8 ... Cummins Inc CMI 79.53 5 121.49 99.23 +.66 +0.7 s s s +12.7 -10.4 12 1.60 Nike Inc B NKE 69.43 0 98.93 99.10 +.96 +1.0 s s s +2.8 +18.3 21 1.44f Delta Air Lines DAL 6.41 4 12.98 8.87 +.26 +3.0 s s s +9.6 -30.3 12 ... Pinnacle Entert PNK 8.06 4 15.57 10.94 +.10 +0.9 s s s +7.7 -20.6 dd ... Dillards Inc DDS 37.49 4 61.08 45.64 +.11 +0.2 s s s +1.7 +15.6 12 0.20 Regions Fncl RF 2.82 4 8.09 4.69 -.11 -2.3 s s s +9.1 -33.0 28 0.04 Dover Corp DOV 43.64 7 70.15 59.92 +.87 +1.5 s s s +3.2 +4.2 15 1.26 Renasant Corp RNST 11.80 6 17.59 15.09 -.01 -0.1 t s s +0.6 -6.6 15 0.68 DuPont DD 37.10 6 57.00 48.10 +.80 +1.7 s s s +5.1 -0.1 13 1.64 Sara Lee Corp SLE 15.66 8 20.26 18.97 -.03 -0.2 s s s +0.3 +8.1 13 0.46 Education Realty Tr EDR 7.16 0 10.52 10.38 -.05 -0.5 s s s +1.5 +44.2 dd 0.28 Smith & Nephew PLC SNN 42.07 3 60.35 45.88 -.63 -1.4 t s t -4.7 -9.4 65 0.82e FedEx Corp FDX 64.07 8 98.66 91.19 +1.43 +1.6 s s s +9.2 -3.3 17 0.52 Smucker, JM SJM 61.16 0 80.26 79.08 +.27 +0.3 s s s +1.2 +26.5 20 1.92 Fst Horizon Natl FHN 5.38 5 12.67 8.74 -.02 -0.2 s s s +9.3 -27.3 36 0.04 Suntrust Bks STI 15.79 4 33.14 21.05 -.01 ... s s s +18.9 -26.7 20 0.20 Freds Inc FRED 10.27 9 14.89 14.22 +.01 +0.1 s s t -2.5 +5.9 17 0.20 Synovus Fincl SNV 0.94 4 2.99 1.62 ...... s s s +14.9 -38.3 dd 0.04 GTx Inc GTXI 2.27 4 6.86 3.81 +.02 +0.5 s s s +13.4 +30.7 dd ... Sysco Corp SYY 25.09 6 32.76 29.33 +.10 +0.3 s s r ... +0.6 15 1.08f Ingram Micro IM 15.45 6 21.63 18.65 +.17 +0.9 s s s +2.5 -3.1 12 ... Thomas& Betts TNB 37.51 9 61.88 57.26 +.41 +0.7 s s s +4.9 +17.4 17 ... Intl Paper IP 21.55 9 33.01 31.74 +.60 +1.9 s s s +7.2 +13.9 11 1.05 Trustmark TRMK 17.06 0 26.14 25.45 +.01 ... s s s +4.8 +6.5 15 0.92 Isle Capri Casino ISLE 3.90 1 11.22 4.56 -.14 -3.0 s t t -2.4 -56.1 33 ... Tyson Foods TSN 15.60 8 21.06 19.96 +.22 +1.1 t t t -3.3 +18.0 10 0.16 Kellogg Co K 48.10 4 57.70 51.44 -.12 -0.2 s s s +1.7 +4.5 16 1.72 UPS class B UPS 60.74 9 77.00 74.74 +.13 +0.2 s s s +2.1 +6.9 18 2.08 Kirklands Inc KIRK 7.69 8 16.23 14.03 +.05 +0.4 s s s +5.5 +0.1 16 ... Utd Technologies UTX 66.87 5 91.83 77.24 +.54 +0.7 s s s +5.7 -0.4 14 1.92 Kroger Co KR 21.09 7 25.85 23.98 -.11 -0.5 t s t -1.0 +14.3 12 0.46f Valero Energy VLO 16.40 4 31.12 20.94 +.49 +2.4 s s t -0.5 -14.1 7 0.60f LifePoint Hosp LPNT 28.95 6 43.45 36.52 -.39 -1.1 t s t -1.7 -1.6 12 ... Verso Paper Corp VRS 0.85 1 6.37 .98 -.04 -4.0 s t s +2.0 -74.4 dd ... Macy’s Inc M 21.69 0 35.07 35.04 +.20 +0.6 s s s +8.9 +51.4 13 0.80f Wright Medical Grp WMGI 13.37 6 19.05 16.54 -.01 -0.1 s s s +0.2 +3.6 22 ...

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 January 14-20, 2012 www.thememphisnews.com

Possessions real estate & development Shouldn’t Mar Art of Investing

Ray’s Take With an erratic stock market and banks paying virtually no interest, it’s no wonder people are looking for alternative investments. There’s been a buzz lately about something I haven’t seen interest in since the 70s – art and collectibles as investments, and I have two words to say about that: Bad idea. Possessions of any type usually don’t make good investments. This doesn’t mean they can’t be quite valuable, but their value is based strictly on what the market will pay and not their intrinsic worth. The main factor that drives the value of pos- ray & dana Brandon sessions like rays of wisdom antiques, art, jewelry, base- ball cards and the like is emotion, such as pride or nostalgia. The value of a stock, in contrast, is based Photo: Lance Murphey largely on company performance, income genera- Legends at Wolfchase apartment complex, at 8840 Bristol Park Drive in Bartlett, was among the five largest apart- tion, etc. In addition, the market for any category of ment sales of 2011 in the Memphis area. possessions is quite thin, making it very difficult to find a buyer when you need one. That is the biggest problem with possessions as an investment – you cannot easily turn them into cash or another investment. With stocks, bonds or other traditional investments, there is always a Lofty Heights market ready to buy at a moment’s notice. This is simply not the case with possessions. Still, artwork, precious stones, and collectibles of all types are Apt. market registers strong 2011 as occupancies, rents rise often promoted as worthwhile investments. There are countless smooth operators pushing these MICHAEL WADDELL | The Memphis News items on unwary consumers as smart options. Don’t listen. Whether it’s diamonds, hand-knotted rugs, artworks, antiques, or comic books – personal possessions are seldom sound investments. I men- he Mid-South apartment Winchester rents dropped the most “Investor interest is at an all-time tion comic books because “Amazing Fantasy #15” market is riding high after a during 2011, falling 3.1 percent. high for us as we have a ton of local recently sold for $1.1 million. It originally cost twelve Tstrong 2011. “Most operators will tell you that buyers looking to get back in the cents. That’s certainly a huge return, but it’s also Last year saw increasing occu- this was their best year in some time market before prices escalate along strictly luck, driven by a market that currently values pancies and rents, as well as a shift because of overall revenue growth,” with out-of-state buyers taking an super heroes but might not five years from now. from investors and lenders back to Pera said. “Concession burn-off as aggressive role,” Woodyard said. It’s OK to value your possessions; just don’t pur- more stable properties, all of which well as improved occupancy and “Additionally we are working with chase them as investments. When the time comes followed a 2010 that was dominated declining delinquency allowed most a number of international buyers to sell them, they are far more likely to disappoint by activity involving distressed owners to see rent growth as high as looking to enter our market with you, rather than reward you. product. 5 percent.” cash.” “2011 was a great year for the Increasing rents and occupancies Financing is not an issue in Dana’s Take Memphis market,” said Blake Pera, have been fueled by a lack of new most acquisition deals involving There is one return on investment you can and senior vice president of CB Richard construction for the past few years, Class A properties, but for Class B should expect from your personal possessions, Ellis Memphis’ multifamily division. and that is expected to continue. and C properties it can be harder to and that is pleasure. A piece of art that inspires you “Revenue at most stable properties Less than 400 units were built in acquire. when you look at it is worthwhile for that alone. But experienced substantial improve- 2011, and approximately 467 hit the “Multifamily continues to do don’t mistake the pleasure you receive from owning ment over the previous year, due in market in 2010. well and is the best property sector something rare or beautiful with building wealth. large part to the lack of new con- Financing remains an issue for right now,” said Frank Stallworth, If you’ve ever compared the appraised value on struction delivered to the market developers, but new construction is president of the commercial and jewelry with what the market will pay for that jewelry, and also a stabilizing job market. expected to pick up a bit during the multifamily real estate division at you know it’s no investment. Accruing possessions Occupancies increased and con- latter half of 2012 and into 2013. Magna Bank. “For well-maintained just for the sake of owning them is not particularly cessions were reduced greatly or “We are poised for some new and stable properties, there are good good for your wallet or your well-being. removed altogether.” construction opportunities in our financing opportunities out there.” Invest time in family and friends, building The area’s overall occupancy rate high-growth areas in the East and Five of the Mid-South’s largest memories and stronger bonds. Invest in charitable for the city’s 55,794 total apartment Northeast submarkets,” said Steve apartment sales of 2011 were The organizations – both time and donations – to help units registered 91.6 percent during Woodyard of Woodyard Realty. “We Preserve at Forest Creek selling for improve your community as well as provide personal the fourth quarter, up slightly from expect to see less than 500 conven- $45.5 million, Arbors Harbor Town satisfaction. These are investments in your life now 91.4 percent at year-end 2010, ac- tional units delivered in 2012, while for $31.5 million, Legends at Wolf- and the payback is not only immediate, it is forever. cording to fourth quarter estimates the average 10-year absorption rate chase for $27.8 million, Lynnfield from CBRE. Average rents increased has been over 1,200 units per year. I Creek for $22.4 million and Preserve Ray Brandon is a certified financial planner and across the Mid-South area by 0.5 would not be surprised to see us hit at Southwind for $22.2 million. CEO of Brandon Financial Planning (www.brandon- percent last year, rising from $732 an overall occupancy of 93 percent Overall activity for apartment planning.com). His wife, Dana, has a bachelor’s de- at the end of 2010 to $735 at the end to 95 percent in the next few years.” sales in Shelby County has been rela- gree in finance and is a licensed clinical social worker. of 2011. DeSoto County showed the Most of the units delivered dur- tively stable for the past couple of Contact Ray Brandon at raybrandon@brandonplan- strongest rent increases, and the ing 2011 came from three develop- years, as 81 transactions took place ning.com. Downtown, Germantown/Collier- ments: Grand Island on Mud Island, in 2011, up 8 percent from 75 in ville and Bartlett submarkets also ex- Villas at Gray’s Creek in Cordova and 2010, according to Chandler Reports, perienced moderate rent hikes. East Downtown’s Van Vleet Flats. www.chandlerreports.com. www.thememphisnews.com January 14-20, 2012 11

AIRLINES Pinnacle, Union Debate Pay Cuts

Struggling Memphis-based airline asks union leaders to agree to 5 percent pay cut for employees

BILL DRIES | The Memphis News

emphis-based Pinnacle Airlines equitable, and whether the company months after they had rejected a previous statement reads. Corp. has proposed to United actually has a reasonable opportunity to offer, included what union leaders de- The same month USW flight atten- MSteelworkers union leaders that restructure.” scribed as “significant wage increases and dants ratified the new five-year contract, all employees represented by the union Pinnacle Airlines Inc., a subsidiary of improvements to working conditions and the union took a position against Pin- take a 5 percent pay cut as the regional Pinnacle Airlines Corp., and flight atten- the quality of life for flight attendants.” nacle’s move to have itself considered a air carrier struggles to rework its financial In the Jan. 6 statement, union leaders “single integrated transportation system.” arrangements with employees and major indicated they have made counterpro- The designation would have affected how airlines. posals to the 5 percent cut Pinnacle has flight attendants were classified. The talks with the three USW locals proposed. The union opposed the move, which were under way last week. The union If Pinnacle files for The union leadership didn’t go into has been a key part of Pinnacle ex- acknowledged them publicly late Friday, bankruptcy reorganization, specifics on the counteroffers but said ecutives’ strategy for reorganizing the Jan. 6, in a written statement that char- it could seek to do they “reflect our view that the company’s company that is a set of three regional air acterized the labor talks as “difficult” and away with its collective employees should not bear the burden carriers – the Pinnacle Inc. brand, as well “fluid.” bargaining agreements as a of this restructuring and that the workers as the Mesaba and Colgan brands, which Pinnacle President and CEO Sean should receive something in return for were acquired later by Pinnacle. Menke announced in mid-December the separate process from the any sacrifices given.” The plan, which was launched before company had hired lawyers and a con- bankruptcy filing. But SU W The union also acknowledged that a the current restructuring effort when Phil sulting firm specifically to rework agree- leaders say it requires more bankruptcy reorganization filing by Pin- Trenary was the CEO of the company, was ments that company executives inherited attempts at bargaining nacle is possible. to have two divisions of Pinnacle – one for from previous leadership. as part of a process they “If these negotiations fail, it is possible jets and the other for turboprop aircraft. He said the review would cover labor that the company could file for bankrupt- Once Pinnacle acknowledged its agreements as well as agreements with have pursued with other cy protection and ask a bankruptcy court Mesaba Airlines subsidiary would end its major airlines that Pinnacle flies for un- companies. to allow it to restructure its agreements operations at the end of 2011, the union der various brand names. with the unions and others,” the state- told federal regulators it was against the The company’s stock price tumbled ment reads. designation. below a dollar in the days and weeks that If Pinnacle files for bankruptcy reorga- “These two airlines will continue followed. nization, it could seek to do away with to operate separately, under their own “The USW understands that manage- its collective bargaining agreements as distinct identities and certificates, flying ment has described the urgency of this dants represented by United Steelworkers a separate process from the bankruptcy for different major carriers and maintain- process to its employees, its creditors and local 772 in October reached an agree- filing. But USW leaders say it requires ing separate flight attendant workforces,” the media,” the union statement reads. ment on a five-year contract. more attempts at bargaining as part of attorney Edgar N. James of Washington “However, your union also under- It covered nearly 900 flight attendants a process they have pursued with other wrote to Eileen Hennessey, an investiga- stands that in bargaining, it is important who work out of the following cities: companies. tor for the National Mediation Board. to understand whether the company Memphis, Atlanta, Detroit, New York and “If management forces us to carry our “Neither of the two subsidiaries will has a legitimate basis for its demands, Minneapolis. struggle to a bankruptcy court, we will be succeed to and continue the flying that whether the changes sought are fair and The deal, ratified by union members prepared to engage,” this month’s union Mesaba previously performed.”

Creating a Culture of Fundraising for Your Org

Fundraising is a vital part of an mission, vision and val- fer each the opportunity because they aren’t asked. We also know organization’s lifeblood – it is what peo- ues. Tie your strategic to give and to participate that fundraising can appear “clickish” and ple do in order to bring an organization’s plan and business plan in fundraising. Provide “exclusive” when only some people are mission and vision to life. This is what to a fundraising plan. all employees, students, asked to fundraise, or help with fundrais- makes the nonprofit sector different from Make sure everyone clients, visitors and oth- ing events. Resentment can grow and the private or public sectors. “Revenue” is within your organization ers who benefit from or people with talent and initiative may donated or “granted,” and fundraising is knows how much needs appreciate your work become disengaged. Ask everyone. Ask the primary way funds are secured. to be raised on an an- MEL & Pearl shaw with the opportunity to for their gift, and ask them to ask. Always Successful fundraising requires an nual basis, what the FUNdraising participate in fundrais- acknowledge, praise and lift up their giv- organization-wide culture of fundraising. funds are used for and ing. General training and ing and their fundraising. No one person can do it all. Some may the impact that will be achieved. Be trans- orientation should include an emphasis A culture of fundraising grows over wish one person could – and would – take parent. Show where the money currently on fundraising. time and is embraced and demonstrated on the responsibility, especially if that comes from and ask for help identifying Giving – and asking others to give – is by leaders. The question is changes from, person is someone else! where additional, or back-up funds could a privilege and an honor. Sometimes an “Who is going to do the fundraising?” to But that’s not the way to build a come from. Ask people how they would individual’s unresolved feelings about “How can I help with fundraising?” Start successful and sustainable fundraising like to help. money, giving and asking can cloud their now. program. When you have a culture of Explicitly include expectations regard- leadership responsibilities. In such in- Mel and Pearl Shaw are the owners of fundraising every person within your or- ing giving and fundraising into the roles stances a board member or an executive Saad & Shaw. They help nonprofit organi- ganization is directly or indirectly involved and responsibilities of board members. may say she doesn’t want to “impose” zations and institutions rethink revenue in raising funds. Include fundraising in each staff person’s on others by asking them to help with sources. They are the authors of “How Start building and strengthening job description, especially that of the fundraising. to Solicit a Gift: Turning Prospects into your fundraising culture by including an president, CEO or executive director. What we know from experience is this: Donors.” Visit them at www.saadandshaw. explicit emphasis on fundraising in your When recruiting volunteers be sure to of- the biggest reason people don’t give is com or call 522-8727. 12 January 14-20, 2012 www.thememphisnews.com

Education Realty health care & biotech Trust Rebrands, Promotes Execs ‘No Place Like It’

The Memphis News Staff St. Jude celebrates 50 years of treating childhood cancer

AISLING MAKI | The Memphis News

emphis-based Education Realty Trust Inc. has had a busy Mfew months, ending fourth- quarter 2011 with several new properties in hand and starting 2012 by turning over a new leaf entirely – to be more specific, a new name, a new logo, new positions for several key executives and a $28 million acquisition. The developer, owner and manager of collegiate housing has changed its name to EdR – aligning it with its New York Stock Exchange ticker symbol, EDR. It’s not the first time the company has changed its name since it was founded in 1952; first came Allen & O’Hara Educa- tion Services Inc. followed by Allen & O’Hara Development LLC. The company took on Education Realty Trust, when it went public in January 2005. John Malmo Marketing Consulting developed the new name and logo. EdR is not the only Memphis-based real estate investment trust to shorten its name in the past year. Mid-Amer- ica Apartment Communities Inc., an apartment-focused REIT, changed its name to MAA in March. Like EdR, the company’s new name matched its NYSE ticker symbol. Just two days after EdR rebranded, it Photo: Peter Barta / St. Jude Biomedical Communications announced five top execs were moving Dr. Alberto Pappo of St. Jude Children’s Research Hospital works with a patient. The hospital, which is celebrating its 50th an- up. Scott P. Casey was promoted to senior niversary, has helped dramatically improve childhood cancer survival rates. vice president and chief technology officer; J. Drew Koester to SVP and chief ac- ctor and philanthropist Danny Survival rates for leukemia, the most a new element that we plan to continue counting officer; Christine J. Richards to Thomas’ dream of a day when no common form of childhood cancer, stood moving forward,” Callahan said. SVP and chief operating officer; Matthew Achild would die in the dawn of life at just 4 percent when St. Jude opened. The organization hopes to ramp up S. Fulton to VP of operations; and Joshua continues to be the driving force behind Today, survival rates stand at 94 percent. the annual FedEx St. Jude Classic golf J. Wilson to VP of development. St. Jude Children’s Research Hospital, “It’s remarkable when you reflect on tournament, which will attract some of And that wasn’t the end of EdR’s news. which this year marks its 50th anniver- when St. Jude opened and truly, even the world’s best golfers to Memphis in The REIT moved into the St. Louis market sary. today, there’s no place like it,” Callahan June. with its $28 million purchase of 3949 When the nonprofit facility opened said. “We were the first place to combine “We’re doing everything we can to add Lindell, a four-story, 256-bed apartment its doors in 1962, pediatric childhood research and patient care all under one more fun and relevancy to that event to community adjacent to St. Louis Univer- cancer survival rates were just 20 percent. roof, so you could take those discoveries encourage people to come out,” Callahan sity and 91 percent leased for the 2011- Childhood cancer survival rates today are you made in the lab right to the patient said. 2012 academic year. And in November, more than 80 percent, largely thanks to and make a life-saving difference.” She said country music star and St. EdR bought a development near Texas the work of St. Jude, said Emily Callahan, Realizing Thomas’ dream, the Mem- Jude supporter John Rich and friends are Christian University in Fort Worth, Texas, chief marketing officer for ALSAC, St. phis-based hospital treats children from planning a concert that will take place at for $57.4 million. Jude’s fundraising arm. around the world who’ve been diagnosed the Cannon Center for the Performing with childhood cancer and other cata- Arts in Downtown Memphis. strophic illnesses, regardless of a family’s Other Memphis events will include ability to pay. a weekend-long Friends and Family “No one else has our model, where no Celebration in Memphis that will feature family ever pays St. Jude for anything,” a 50th anniversary dinner and gala; the def. skat·ing /’skātiNG/ : the act, Callahan said. “We fly them here, and we “St. Jude Give thanks. Walk,” a family pay for their housing, food, transporta- event that will take place sometime in the art, or sport of gliding on skates tion. So, it’s the world’s best care with the fall; Survivors’ Day in September; and a latest treatments, and no family ever pays scientific symposium in October, which Now open for public skating, parties, & corporate functions for that.” will bring together current and former www.midsouthicehouse.com901.881.8544 Thomas was celebrated in Los An- St. Jude physicians and researchers from geles this weekend with a star-studded around the world. The hospital will host gala – headlined by Tony Bennett, Ray some type of celebration almost weekly Romano and Phil Donahue – marking with events tied to the anniversary. what would have been his 100th birthday. “We can commemorate scientific and It was the kickoff to a number of events treatment advances that we’ve made, this year celebrating St. Jude’s successes celebrate the achievements people have in the fight against childhood cancer. made, and also encourage and inspire “We have some new events this year, people to continue to move forward with but we’re also taking a lot of our existing us and support us in the future,” Cal- events that we do around the country – lahan said. “It’s really important that we 10705 RIDGEWAY INDUSTRIAL ROAD, OLIVE BRANCH, MS 38654 things that are big and meaningful for us don’t just look back, but we’re also getting – and start to tie them to the 50th or add people involved in moving forward.” www.thememphisnews.com January 14-20, 2012 13

government Cohen Shares Concern Over New Lines

BILL DRIES | The Memphis News

.S. Rep. Steve Cohen, D-Memphis, got a closer county line. see Legislature will act on later this month. look over the weekend at the proposed set of The Republican leadership said their rationale was “The entire Jewish community of which I’m the only Unew district lines for his congressional district. that Shelby County was too large for a single congressio- Jewish Congress person ever elected in Tennessee – 95 And Cohen said Monday, nal district but that the districts percent of the Jewish community lives in that area and Jan. 9, that it wasn’t what he should avoid straddling the it would be taken out and put in Stephen Fincher’s and other political observers boundaries of the state’s three district including all of the congregations,” Cohen said. of both parties first assumed it regions or divisions. “I couldn’t do constituent services for people I attend would be – a move of Repub- Shelby County is the only temple with or who I’ve known over the years. … It lican territory in the Memphis one of the state’s four major cit- would make a real hardship on those people.” suburbs from the Republican ies whose county would remain Norris could not be reached for comment before 7th District into the Republi- split among congressional press time. Cohen said he had talked with Norris Monday can 8th District. districts. and that Norris expressed surprise at the exact boundary. The plan includes a big It’s a big chunk and it’s just not Cohen said his later detailed The existing split of Shelby County among three chunk of the Poplar Avenue something that should be part look at the redistricting propos- congressional districts has highlighted the split in the corridor area in East Memphis of a rural district. We had been al, confirmed by Tennessee leg- county’s political identity – a Democratic majority within proper. islators he has conferred with, the Memphis city limits and a Republican majority in the “I feel very, very secure in led to believe … that Marsha shows the 9th Congressional county outside the city limits. re-election. I just feel a little was getting out of here and district would lose key precincts Republicans have held the 7th district seat since traumatized in terms of not Fincher was taking her territory as far west as the University of Robin Beard’s election to the seat in the mid-1970s. And being able to represent people “ Memphis campus. party leaders have long complained that the legislature’s and I picked up Millington I’ve represented for over 20 and that was it. That’s what I “It’s a big chunk and it’s just Democratic majority in previous redistricting plans was years,” said Cohen, whose not something that should be trying to improve Democratic numbers with an oddly district as a Tennessee senator thought it was going to be. It part of a rural district,” he said. shaped district. included the area before he turns out it’s not. It’s a lot of “We had been led to believe … The proposal would move what is the state’s largest was elected from the 9th U.S. my Poplar corridor being taken that Marsha was getting out of Republican base in a single county out of the 7th – the Congressional district in 2006. and given to Fincher.” here and Fincher was taking her Shelby County GOP base. Cohen has no quarrel with that Shelby County would be territory and I picked up Mil- move. His complaint is that the proposal takes a more represented by the 9th and 8th – U.S. Rep. Steve Cohen lington and that was it. That’s substantial part of Memphis within the city limits. Congressional districts in the what I thought it was going to “Memphis has never been divided,” he said. “Maybe U.S. House, seats now held by be. It turns out it’s not. It’s a lot a little sliver up in Frayser that (former Democratic U.S. Cohen and Republican Stephen Fincher of Frog Jump, of my Poplar corridor being taken and given to Fincher.” Reps.) John Tanner and Ed Jones had and there was a Tenn., in rural West Tennessee, respectively. Cohen talked with Tennessee Senate Republican little sliver in Parkway Village that (former Republican The 7th Congressional district, currently represented leader Mark Norris of Collierville about the proposal. U.S. Rep.) Don Sundquist had. Other than that, Memphis by Republican Marsha Blackburn that now includes east- Norris was among the Republican leadership of the legis- has always been in one district. This will be the first time ern Shelby County, would stop at the Fayette-Hardeman lature that drafted the redistricting proposal the Tennes- that has happened.”

GOVERNMENT Commission Stuck in Neutral on Redistricting

BILL DRIES | The Memphis News

here isn’t a lot of optimism that a advance of the Dec. 31 deadline to have a member. That plan has drawn seven Bailey and Taylor favor different redis- fresh start on redistricting by the new set of district lines in place to reflect votes, enough to get it past two readings tricting plans. Bailey was one of three TShelby County Commission will population shifts recorded in the 2010 but not enough to pass on third and final commissioners who filed suit against the give any plan the nine votes needed to U.S. Census. reading. whole commission in Chancery Court last win final approval or produce a new plan. Commissioners agreed Monday, Jan. Other commissioners favor a change week over the political deadlock. But the way forward with the old set 9, to restart the three-reading process of to a seven-district body with six districts “I believe we were moving as expedi- of plans was an ordinance that had been the redistricting ordinance. The special represented by two commissioners each tiously as the calendar allowed us to do,” amended so many times, there were some meeting on Wednesday, Jan. 18, would be and one single-member district. There are Taylor said of the lawsuit. “I think the law- healthy differences of opinion about to vote on a specific redistricting proposal enough of them committed to that plan suit was unwarranted. It’s not like we were exactly what the commission was dead- on the first of three readings. Second read- to block any other plan from getting nine derelict in our duties. We’ve been strug- locked over. ing would be at the regularly scheduled votes. Also somewhere in the running as a gling for two months trying to approve a That and a pending Chancery Court commission meeting Monday, Jan. 23. second choice by commissioners on both redistricting plan. … It was more about lawsuit filed by three other commission- Any plan that emerges with seven sides is a change to 13 single-member showboating than it was about actually ers are why Commissioner Brent Taylor votes through those two readings will districts. getting a plan approved.” moved Monday, Jan. 9, to start the process need a nine-vote, two-thirds majority to Taylor moved – and the commission Taylor said going directly to general over – not because he believes any votes win approval on third and final reading. agreed – to start the item in the commis- government, which he chairs, would and opinions will necessarily change. Any plan amended after second reading sion’s general government committee, speed the process along since any item “Simply because the lawsuit has been would have to win a fourth vote of the which he chairs. Previously, the redistrict- approved in Bailey’s ad hoc committee filed and the lawsuit is asking the judge to commission with the two-thirds majority. ing plan went through an ad hoc commit- would have to go to general government order us to move expeditiously to approve Some commissioners favor tweaking tee on redistricting and then went to the anyway. a redistricting plan does not change the the district lines and retaining the com- general government committee. Bailey said bypassing his commit- fact that people are where they are,” he mission’s current structure of four districts Taylor chairs the general government tee would “undermine the authority of said. represented by three commissioners each committee. The ad hoc committee is the chairman,” speaking of commission The commission deadlocked in and one district represented by a single chaired by Commissioner Walter Bailey. Chairman Sidney Chism. 14 January 14-20, 2012 www.thememphisnews.com

LAW & THE COURTS Recordings Could be Played in Drug Trial

BILL DRIES | The Memphis News

obias Pride told Mario Stewart that after he was shot several times. "Pride thereafter told members of the were real or perceived,” prosecutors leaders of the drug organization Stewart died before police arrived. organization that Stewart was cooperat- wrote in their motion seeking to use the TPride worked for wanted Stewart Federal prosecutors trying the largest ing," according to the filing last week by recordings. “In addition to murders, these dead because they believed he was coop- drug case ever brought in Memphis feder- federal prosecutors. "As a result, Clarence defendants and the organization used erating with police. al court intend to give jurors a full picture Broady was paid to murder Stewart." violence to punish those who crossed the Pride also told Stewart that all Stewart of the scope of the drug organization. Broady, another codefendant in the organization; and they bribed witnesses had to do was stay quiet about the mur- Martin Lewis and Clinton Lewis are federal case, pleaded guilty to federal in an attempt to corrupt judicial proceed- der of Antonio Allen as Pride prepared to the only two defendants in the case who charges in November and is awaiting ings.” go to trial on the murder charge. Stewart have not pleaded guilty. They are accused sentencing. Those were precisely the reasons had witnessed something having to do of being hit men for the multi-state drug Stewart was shot and killed in the prosecutors cited in moving for and get- with Allen’s 2002 murder. organization headed by Petties with direct garage of his home. Broady was waiting in ting an anonymous jury-selection process Stewart recorded the entire conversa- ties to the Sinaloa drug cartel in Mexico. the garage and shot Stewart several times. in which jurors will be selected from a tion, including Pride admitting he had The trial, scheduled to begin Tuesday, Stewart's children were in the house pool of prospective jurors from rural West murdered Allen for the organization Jan. 17, with selection of a jury from out- as he staggered back inside, called 911 Tennessee. Seven sets of indictments, six headed by drug kingpin Craig Petties as side Memphis, has been delayed to a Feb. and begged dispatchers for help before of them superseding indictments that well as Pride telling Stewart that leaders 6 start date because James Simmons, one he died. Prosecutors want to play that updated and added charges as well as of the organization wanted him to kill of the attorneys for Clinton Lewis, under- recording. defendants, named more than 40 people, Stewart but that he had refused because went emergency surgery last week. Pride is expected to testify during the including many who were not charged they "were like family." Mario Stewart was one of six people trial, according to prosecutors. in the federal case, as being part of the Federal prosecutors in the case murdered, according to prosecutors, be- The recordings apparently do not organization. against two other alleged hit men for the cause they were either informants, stole mention either Clinton Lewis or Martin Petties fled Memphis for Mexico in Petties drug organization want to play the from the organization or were competi- Lewis. But prosecutors contend the re- 2002, shortly after the first federal indict- recording for the jury in the trial sched- tors. cordings are evidence of a conspiracy that ment in which he was the sole defendant, uled to begin Feb. 6. They are also asking Pride was later charged in state court included and involved both. accused of possession of 600 pounds of Federal Court Judge Hardy Mays to allow with Allen’s murder, and as part of the dis- “The defendants were part of an or- marijuana. He ran the drug organization them to play another recording of Stewart covery process, prosecutors turned over ganization primarily located in Memphis from Mexico until his capture in January from March 2005 in which he called 911 to his attorneys the recording Stewart that used violence to eliminate threats 2008. He pleaded guilty to racketeering, operators from his home just seconds made. to the organization whether the threats drug and murder-for-hire charges in 2009.

INKED Ewing Signs New Lease in Southeast Memphis

SARAH BAKER | The Memphis News

Ewing Moving Service Inc. & Storage is relocating its In other commercial leasing news, European Wax look at the demographics,” James said. “We wanted to go operations in Southeast Memphis for better efficiencies Center has signed a 1,380-square-foot lease in Erinway in an area where we would get a lot of cross-traffic and and more office space. Shopping Center, 4856 Poplar Ave. also where there were lots of schools, as well as business, The Memphis-based moving and storage company The Aventura, Fla.-based franchise has 160 locations homes and family.” has inked an 81,000-square-foot lease at 4006 Air Park St., nationwide, but this will be the first shop to open in Ten- Construction for tenant improvements began Wednes- owned by San Francisco-based ProLogis Inc. nessee. day, Jan. 11. European Wax Center plans to open by early Colliers International’s industrial team of Andy Cates, Gary Shanks, broker with The Shopping Center Group March, and the company will launch a “premiere week” Preston Thomas and Mike Driscoll handled the transac- LLC, represented the tenant. Aaron Petree, vice presi- offering free waxing services. tion. dent brokerage at Loeb Properties Inc., represented the As a franchise, European Wax Center had the option of Ewing specializes in complete packing and warehouse landlord. national support, but it was important for James to engage storage for residential and commercial clients. Established European Wax Center will fill the space formerly local business. Leininger McCullough architecture is the in 1980 by Charles L. Ewing Sr., the company is headquar- occupied by Mancia’s Inc., to the west of Erinway’s new architect of record for the project, and construction was tered at 4250 E. Shelby Drive, with an additional office in Macadvantage store. Libsey James, regional developer for provided by DBR Development LLC. Overseeing market- Nashville. European Wax Center and Memphis franchise owner, said ing and media relations is Obsidian Public Relations. Ewing became the official Memphis distributor for being on Poplar Avenue was important for the company’s “We could have brought in people from California or 1-800-PACK-RAT in October, and the new space accom- West Tennessee flagship store. Texas or Florida to help build, but we really wanted to go modates the growing popularity of mobile storage servic- “It was important to try to get a Poplar address with local people to help support and really grow Mem- es, Ewing said. The new facility on Air Park also provides because everybody knows that Poplar just runs phis,” James said. additional office, warehouse and break room space. straight through Memphis,” James said. “If James hopes to have as many as three stores “We expanded to a warehouse where we could go you’re on Poplar, you can figure out where you in the Memphis area within the next three to five three-high with our stacking containers, and Andy Cates are.” years, and as many as 10 across Tennessee over found us the ideal place that helps us to right-size our James said her clientele is primarily wom- the course of the next seven years. business and stay in the industrial district in the airport en ages 16 to 45 looking to enhance personal “We’ve got a pretty good development area,” Ewing said. and professional appearances. European Wax schedule penciled in,” James said. “We “As a matter of fact, you’ve got three of your major Center also gets its fair share of athletes who certainly want to grow smartly and let each moving companies right there in the same area; United wax for performance. center develop strongly.” Van Lines, Mayflower and Ewing Moving Service are all East Memphis was ideal for the fran- Send commercial lease announce- within two miles of each other. The new space is much chise’s launch into the market because of ments to Sarah Baker, who can be more conducive to what we do.” its appealing demographics and density. reached at 521-2464 or sbaker@mem- Ewing plans to complete the move by Feb. 1. “We obviously took a good, hard phisdailynews.com. www.thememphisnews.com January 14-20, 2012 15

real estate & development Precision Coils Relocating to Brownsville

SARAH BAKER | The Memphis News

regional manufacturing firm is ex- tions and staff to the nearby Brownsville process and then allowed for expansion tives was selecting a location in a geo- panding and relocating its current industrial park, investing $3.7 million to as their product line grew and as their de- graphic area that would allow us to retain Afacility from Somerville to Browns- renovate the existing 60,000-square-foot mand grew,” Fields said. “It built in some as many employees as possible.” ville, adding jobs and spurring economic facility and add an additional 20,000 flexibility that they didn’t already have.” Precision Coils plans to begin moving development along the way. square feet. The addition is slated for Precision Coils first engaged Fields early summer and be fully operational in Precision Coils is moving from 13745 completion in the spring. about its expansion plans in January 2010. Brownsville in July. Fields said expansions Tenn. 59 in Somerville to an 80,000- Jeb Fields, vice president of Cushman “It was a very long and thought-out like Precision Coils provide a shot in the square-foot facility in the Brownsville/ & Wakefield/Commercial Advisors LLC, process,” Fields said. “We looked all over arm to the state’s manufacturing sector. Haywood County Industrial Park near represented the tenant in the deal. Fields the place.” “It’s always good to see manufactur- Morgan Street and U.S. 70. worked directly with the landlord, Cox Mc- But it was crucial that the company re- ing jobs expand in Tennessee,” Fields said. Precision Coils, a business of Minneap- Carver Development of Jackson, Tenn. tain its staff while also creating a projected “Hopefully, all communities can take a olis-based Unison Comfort Technologies, Increasing demand for the Precision 26 new jobs, said Precision Coils Vice look at Brownsville as an example of how manufactures replacement and original Coils product line has made the move to President and General Manager David to get things done and create a pro-busi- equipment manufacturer (OEM) coils. a larger facility with expansion capability Pflum. ness environment that would allow for The company will move its Somerville necessary, Fields said. “We value the work ethic of our em- manufacturers and others to flourish in manufacturing offices, production opera- “It built some efficiencies in their ployees,” Pflum said. “One of our objec- their towns or cities.”

REAL ESTATE RECAP 1150 N. germantown parkway application for interior and exterior cordova, Tn 38016 renovations at Northside Manor SALE amount: $3.1 million Apartments at 1514 Northside Drive Tennessee St. Office Bldg. in Frayser. Sale Date: Dec. 14, 2011 Northside Manor is a 155-unit, Buyer: PLC International Inc. 111,000-square-foot Class D apart- Again in Foreclosure Huling Ave Seller: SM Properties Memphis LLC ment complex built in 1974 in Fray- Loan Amount: $1.7 million ser. It sits on 12.6 acres on the west KATE SIMONE | The Memphis News Loan Date: Wagner St Dec. 15, 2011 side of Felts Station Road, south of Maturity Date: n/a the intersection of U.S. 51 and North

S Riverside Dr Lender: Zions First National Bank Watkins Street. E Nettleton Ave Details: Memphis-based PLC Inter- The Shelby County Assessor of national Inc. has bought a vacant Property, which uses the address 68,000-square-foot Schnucks at 1541 Northside Drive for the com-

Wagner St Tennessee St 1150 N. Germantown Parkway (also plex, appraised it in 2011 at $1 mil- known as 1140 Cordova Road) from lion. Northside Manor Apartments S Front St SM Properties Memphis LLC for $3.1 LP in November sold the complex W Butler Ave million. PLC also filed a $1.7 million to the city Health, Educational and construction loan through Zions Housing Facility Board, which issues Tennessee St. First National Bank. tax-exempt revenue bonds for devel- Office Building The new ownership group is opment of multifamily housing. affiliated with Winchester Farmer’s Rienzi Dr Market at the corner of Winchester 8951 e. shelby drive and 460 Tennessee St. • Memphis, TN 38103 Road and Kirby Parkway, which 8963 shelby drive specializes in international food as Memphis, tn 38125 460 Tennessee St. well as produce. The vacant spot is sale amount: $1.9 million memphis, tn 38103 in a shopping center on 5.9 acres at sale Amount: $3 million the southwest corner of Cordova Sale Date: Dec. 21, 2011 Road and Country Village Drive. The Buyer: Greater Memphis Pentecostal Sale Date: Dec. 1, 2011 Shelby County Assessor of Property’s Assembly Inc. Buyer: Telesis Community Credit Union 2011 appraisal is $4.5 million. Seller: David A. Kirkscey, substitute Seller: Priority Trustee Services of TN LLC, substitute trustee appointed by Telesis Schnuck Markets Inc. closed the trustee appointed by First Alliance Community Credit Union supermarket in August 2010, citing Bank Details: Telesis Community Credit Union has bought back a mixed-use building at stiff competition from five stores Loan Amount: $1.5 million; $300,000 460 Tennessee St. for $3 million at a foreclosure sale. The Downtown property went within a two-mile radius, includ- Loan Date: Dec. 22, 2011 into foreclosure after 460 Tennessee Street LLC defaulted on a 2007 loan for $3 mil- ing a Walmart Supercenter and a Maturity Date: June 22, 2014 ($1.5 lion through Telesis. SuperTarget. million); Dec. 22, 2013 ($300,000) The current owner is listed as Memphis Center City Revenue Finance Corp., with Lender: First Alliance Bank 460 Tennessee Street LLC, whose principal is Downtown developer Robert G. “Bob” 1514 Northside drive Details: Greater Memphis Pente- Williams Jr., having leasehold interest. Memphis, tn 38127 costal Assembly Inc. has bought a Built in 1900, the 50,820-square-foot, three-story Class C mixed-use building permit cost: $4.4 million 2,823-square-foot residence on East sits on 0.8 acres bounded by Tennessee Street to the west and Wagner Place to the Shelby Drive at a foreclosure sale for east, north of West Butler Avenue. In 2001, 460 Tennessee Street LLC was granted a Permit Date: Applied December $1.9 million. The seller was David A. payment-in-lieu-of-taxes (PILOT) to add apartments to the building. 2011 Kirkscey, substitute trustee appoint- The limited liability company leases two floors to Memphis publisher Contempo- Owner: Alco Northside Partners LP ed by First Alliance Bank. rary Media Inc., parent company of the Memphis Flyer, Memphis Magazine and two Tenant: Alco Northside Partners LP The assessor classifies the three- other magazines. Contemporary Media is not related to the property owner. Architect: MMN Architects bedroom, three-bath residence, This is the second foreclosure notice against 460 Tennessee Street LLC. The first Contractor: GSB Contractors Inc. which was built in 1998, as an apart- filing was in July 2009, but Williams filed for Chapter 7 bankruptcy protection the Details: Alco Northside Partners ment complex. It sits on 9.9 acres on following month. 460 Tennessee Street LLC itself filed for Chapter 11 bankruptcy pro- LP, an affiliate of ALCO Manage- the south side of Shelby Drive west of tection in July 2009. It listed three creditors – holding first, second and third mort- ment Inc./ALCO Properties Inc., has Forest Hill-Irene Road, and its 2011 gages – with secured claims totaling $3.3 million. filed a $4.4 million building permit appraisal is $492,100. 16 January 14-20, 2012 www.thememphisnews.com

HEALTH CARE & BIOTECH Lighter Loads for RNs New equipment aims to cut nurses’ heavy lifting, preventing common back injuries

AISLING MAKI | The Memphis News

t’s been estimated that the average workplace safety and decrease nursing Patient lifts aren’t new. What is new each year in association with employee nurse lifts more than 3,600 pounds turnover rates, Baptist has implemented is the comprehensive training compo- injuries from moving patients. Reducing Iduring a single shift – more than one a pilot program at its DeSoto hospital that nent focused on education and changing trips, slips and falls is the main preven- and a half tons. involves a nearly $1 million investment behaviors. It’s about building a hospital- tative issue, according to information About 50 percent of all nurses nation- in new equipment and training to lift and system culture where safety comes first. provided by Baptist Memorial. ally complain of back pain, and Baptist move patients more safely. The three-year pilot program at Research shows a decrease of 80 to Memorial Health Care Corp. says roughly The installation of ceiling lifts ad- Baptist Memorial Hospital-DeSoto entails 90 percent in the number of injuries and 12 percent of its registered nurses end up dresses safer patient handling for employ- training a large portion of the staff and workers’ compensation claims within leaving the health care sector because of ees and are more convenient for patients. conducting followups and evaluations. three years of training employees to man- back issues. Each piece of equipment carries a certain If it proves successful, Baptist plans age the kind of safety equipment in use at “Being in acute care, we have patients criteria and weight capacity. to implement the program throughout its the DeSoto facility. in our care who are outside of what they Representatives from Diligent Services health care system. Julie Hollingsworth, chief marketing normally are, and we’re there to get them – an Illinois-based company that offers “We’re very fortunate to have an officer for Baptist Memorial Hospital- back to their baseline functionality,” said a comprehensive, long-term, hands-on organization that will make this type of DeSoto, said this “is about advancing and Cheryl Berry, director of nursing at Baptist approach to injury prevention – this week investment for our nurses who are taking making patient safety and our employee Memorial Hospital-DeSoto in Southaven. began training clinical staff at Baptist care of the patients at their bedsides,” safety a priority.” “That requires some heavy lifting, heavy Memorial Hospital-DeSoto to use the new Berry said. “The feedback has been McBride said Diligent’s program is the movement and repetition over the years, lifts and associated equipment. very good and the employees are very only ergonomic prevention program cur- and doing it improperly or not doing it “In Europe, they’ve been far ahead excited and very engaged. This equip- rently endorsed by the American Hospital consistently can lead to a breakdown in of us Americans in terms of safe patient ment isn’t anything new, but there have Association. It decreases downtime and the body.” handling,” said Heather McBride, clini- been changes and upgrades, and they are helps foster employee retention and mo- The United States is projected to have cal consultant with Diligent, the clinical excited about having it – coupled with the rale. And in terms of health care hiring, a nursing shortage that will intensify as training division of Arjo Huntleigh, the right body positioning – to better move having advanced safety equipment also the population ages and the need for company that manufactures the equip- our patients.” helps to attract the best talent. health care grows, according to the Amer- ment. “In long-term care, they’ve been Although the investment comes with It’s also shown to have remarkable ican Association of the Colleges of Nurs- using lifts to move and handle patients a hefty price tag – between $4,000 and benefits for some patients. At a recent ing. In response to the need to improve safely for many years. But in acute care, $5,000 per ceiling lift – it’s expected to conference, McBride presented the story over the past 10 years, we’ve seen a lot save the health care system millions of of a spinal-cord injury patient who was more proactive hospitals such as Baptist dollars in the long run. mobilized more quickly, thanks to a ceil- use this equipment.” About $50 billion is spent in the U.S. ing lift used by well-trained staff. Facility To Transload Overseas logistics Containers MEM Lands New Flights to DC Established Business is expanding and BILL DRIES | The Memphis News looking for a facility to transload our material ith new Delta Air Lines Inc. the expansion to be announced with more The load factor for international flights into 20ft containers in a cuts in service taking effect this flights in February. was 81.2 percent, a 0.5-point increase from commercial or industrial Wmonth at Memphis Internation- US Airways chairman and CEO Doug a year ago. operation located near al Airport, the airport got some good news Parker estimates the expansion will add The other measure for matching avail- to start the New Year from another carrier 125 customer service and fleet service em- able seats to the passengers who filled or in Marion, AR or – US Airways. ployees at Reagan National as the airline those seats is in how closely available seat Memphis, TN. Fences, The Phoenix-based airline announced increases the number of gates it has at the miles match revenue passenger miles. it will expand service from Memphis In- airport. Both numbers take into account the length security, truck scales ternational to Reagan National Airport in Meanwhile, Delta reported lower traffic of various airline routes. on site or nearby, and Washington beginning March 25. Mem- on fewer planes in December, although The goal for airlines is to get the two concrete pad a must. If phis International now features service to those planes were fuller than normal numbers close to one another. Reagan National from other carriers. throughout the system, including at Mem- For Delta in the turbulent year of 2011, you have the facility and The new US Airways service was made phis International Airport. available seat miles exceeded revenue the ability to perform this possible by a “slot swap” between it and The December figures come after a cut passenger miles by 41.8 million, just a bit Delta, which operates one of its seven in system-wide capacity for Delta, which higher than the 39.5 million gap from 2010. function, send photos of U.S. hubs in Memphis. The swap deal was includes regional air service at Memphis Delta’s load factor for the year was your location to Vannah closed in December and the new flights International that began in late August but higher on its domestic flights at 83.2 at [email protected] were announced just weeks later. before further cuts that also include Mem- percent than it was on its international US Airways gave up 132 take-off and phis that began this month. Delta execu- flights, which showed a load factor of 80.7 Phone: 877-628-3505 landing slots at New York’s LaGuardia tives have described the capacity cuts as percent. The domestic regional load fac- Airport for 43 slots at Reagan National, permanent. tor was 78.6 percent compared to a 78.5 Us Motor Recycling according to a Transportation Department Delta reported a load factor, the per- percent load factor for the same segment 4027 S. Weels filing late last year. centage of paying passengers in available in 2010, before the regional cuts. Chicago, IL 60609 The March service is part of a plan seats, on its domestic flights for the month Delta reported 163.8 million passen- by US Airways to expand its service into of 80.7 percent, up 1.1 points from the year gers boarded in 2011 compared to 162.6 Reagan National with the second part of before. million in 2010. www.thememphisnews.com January 14-20, 2012 17

community Dunavant Awards Deadline Approaches

BILL DRIES | The Memphis News

Feb. 22 at a luncheon at the University of “Let’s face it, it’s not just the media – doing what they do well be recognized – Nominations for Memphis Holiday Inn, 3700 Central Ave. it’s what the public wants to read in the even if they are not an award recipient,” Dunavant Awards Brad Martin of The Martin Institute media. That is about things that draw Griffee said. will be the keynote speaker emphasiz- attention to themselves,” Griffee said. Last year’s honorees were Shelby must be submitted by ing the award’s theme of promoting “There’s the full range of the spectrum out County Mayor Mark Luttrell and Shelby good government and honorable public there. We just think that it’s appropriate County District Attorney General Amy Sunday, Jan. 15 servants. for the public to be reminded about the Weirich. Mark Griffee, chairman of the Du- good end of it occasionally as well.” Luttrell was nominated for his work as he choices are already being made navant Awards committee, said the The Dunavant awards are a different Shelby County sheriff, the elected office in this election year. There are lots awards are recognition for those who direction for the Rotary Club whose civic he held before he was elected mayor in Tof nominees. already have some public identity and involvement is usually along the lines of 2010. Weirich was nominated for her work Some already hold elected office. Oth- those the public outside of the political charitable endeavors. as a career prosecutor. She was appointed ers are the non-elected officials that are world have never heard of. “Our group has taken this on as the the county’s chief prosecutor by Tennes- the day-today face of local government. “It’s an attempt to try to provide some one really public thing we do,” Griffee see Gov. Bill Haslam after he appointed They are being reviewed by a com- recognition for people who toil away out said. “This is the one thing we actually try the county’s elected District Attorney mittee made up of members of the family of the limelight,” he said of the award to get publicity for.” General Bill Gibbons to be Tennessee of the late Probate Court Clerk Bobby to non-elected officials. “They don’t get And the organizations involved hope commissioner of Safety and Homeland Dunavant and the Rotary Club of Mem- their names out there because they’re not it will one day grow to include a sym- Security. phis East. campaigning. It’s not a political process posium on public service. The goal is to Weirich is currently running for the And this is the final week for nomi- in terms of the public involvement. Those expand the awards into a “teaching pro- two years left in Gibbons’ term of office. nations for the annual Bobby Dunavant are the folks that make the government cess opportunity” that will put those who Gibbons himself won the Dunavant Public Service Awards, now in its ninth run and you never hear about them as might be interested in public service with Award in 2004. Memphis Mayor A C year. long as they are doing their job right.” those already in public service. Wharton Jr. was honored for his service as Sunday, Jan. 15, is the deadline for The award was founded the year For now, Griffee is encouraging Shelby County mayor. nominations. The forms can be found on that Dunavant died as well as the year of Rotarians to invite other public officials – “Some of them go on to become the website of the Rotary Club at www. another in a continuing series of public elected and unelected – to the luncheon elected officials or run for elected office. rotaryclubofmemphiseast.org. corruption investigations that was under next month. Amy Weirich is a good example of that,” The University of Memphis and The way – the federal Tennessee Waltz sting “What we want people to do is to Griffee said. “They tend to stay in govern- Daily News sponsor the awards. operation that focused on the Tennessee invite a public servant that they know to ment and do multiple roles and positions. The winners will receive their awards Legislature. come to this luncheon – to see people They don’t always stay in the same one.”

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www.simplicitysofas.com/freedelivery155 18 January 14-20, 2012 www.thememphisnews.com

COVER STORy

Employees work in the institutional area on the equity trading floor at Morgan Keegan & Co. Inc.

Photo: Lance Murphey TradingHands Morgan Keegan sold to Raymond James in blockbuster $930M deal

Story by Andy Meek

t’s been something of a the camera late Wednesday, Jan. 11, to tell room.” joining Raymond James as president and roller coaster ride for a little CNBC’s Maria Bartiromo why his firm was He said it’s a much larger transaction will oversee the firm’s fixed income and more than six months in the buying the 43-year-old Memphis financial than usual for Raymond James, which is public finance businesses. Many details drawn-out process by Re- institution for $930 million, his comments based in St. Petersburg, Fla., and has about remain to be worked out, such as where gions Financial Corp. to sell generally struck a positive note. 5,400 financial advisers. The addition of Raymond James will put other senior lead- Morgan Keegan & Co. Inc., “It’s a firm with an almost identical more than 1,000 advisers from Morgan ers from Morgan Keegan that it expects to its Memphis-based invest- culture to ours,” Reilly said in the interview Keegan will boost the combined firm’s bring on board. All of that is why Reilly said ment unit. about Morgan Keegan, which Regions put force to more than 6,000 and make it one in the TV interview, “I think, even for the Employees worried up for sale last summer. “It’s just a great of the largest wealth management and local community, we’re probably one of about jobs. Business and fit. … They’ve got a great fixed income investment banking firms in the country the best outcomes they could have had.” civic leaders worried about whether the division that’ll meld in well with ours. They not based on Wall Street. Talk about starting off its golden anni- city was poised to lose a major corporate have a very strong public finance business, The deal is expected to close on or versary year with a bang – 2012 also is the Iheadquarters if a competitor bought the which we’ve been wanting to grow, and about March 30. The combined firm’s fixed 50th anniversary of Raymond James. firm and decimated it with job cuts – or they’re well ahead of us.” income and public finance businesses will In a letter to clients about the Morgan completely moved it out of town. Reilly told Bartiromo that there will be be based in Memphis, and the firm intends Keegan acquisition, Reilly and Raymond But when Raymond James Financial some degree of job cuts but that he thinks to keep a “regional support center” in the James executive chairman Thomas James Inc. CEO Paul Reilly stepped in front of “for most of the people, there’s plenty of city. Morgan Keegan CEO John Carson is wrote: “While additions of this size are www.thememphisnews.com January 14-20, 2012 19

a departure from our focus on organic make for “a great marketing pitch that will Also, it would otherwise have taken growth supplemented by individual hires resonate with clients.” Raymond James years of organic recruit- and small acquisitions, it is not a departure Still, he thinks Morgan Keegan could ment and major up-front incentive costs from our overall strategy. Throughout our have fetched at least a moderately higher to grow to the point it’s now reached in history, Raymond James has used strategic price in a normal market environment. one fell swoop because of the two com- mergers to grow, but only when the timing “I’m not saying they got it cheap, just panies’ marriage. Regions executives held and pricing are right and, most important- Raymond James that they got a good value,” Wunderlich a presentation about the deal for analysts ly, when there is a strong cultural fit that is a great firm. said. “As far as employees, a lot of the Wednesday, and Raymond James followed we believe will benefit clients.” advisers have been seeing what else is out with a presentation of its own the next day. The heads of two of Morgan Keegan’s Morgan Keegan is there during this (sale process). I think a Among the details Raymond James shared: smaller rival firms in Memphis were less a great firm. What lot of them have a Plan B. I think we’re Plan it will offer up to $215 million in retention rosy upon initial word of the deal Wednes- B for some of them.” payments to keep Morgan Keegan employ- day. Duncan Williams, president of Dun- you hope“ is two David Waddell, president of Waddell & ees in place. Also, the purchase price for can-Williams Inc., said he believes there’s great firms make a Associates Inc. in Memphis, included his Morgan Keegan is subject to change if the at least some satisfaction among Morgan firm in that mix of other local shops that revenue retention picture also changes. Keegan employees that there’s now some better firm.” will be interested in talking with Morgan Regions CEO Grayson Hall said finality to the ownership situation, which – Duncan Williams Keegan employees displaced by the deal. Wednesday benefits of the deal for Regions has dogged the firm for months and led to President, Duncan-Williams Inc. Paul Morris, president of the Down- include the fact that cutting Morgan Kee- a small exodus of advisers who took some town Memphis Commission, tweeted gan loose “lowers the overall risk profile of business with them. his thoughts as soon as the news was the company going forward.” Williams said there also will be an announced Wednesday. He’s been follow- As of mid-week, it wasn’t immediately opportunity for his Memphis-based ing the news closely, given that Morgan clear what would happen to the Morgan investment firm to pick up at least a small Gary Wunderlich, CEO of Memphis- Keegan is a major employer, a big presence Keegan name as a result of the deal. For amount of talent from Morgan Keegan as based Wunderlich Securities Inc., agreed in Downtown and occupies a building that’s a example, in a frequently asked questions a result of the deal. Then he turned his at- general with Williams’ expectations. key feature of the city skyline. page on Regions’ website, in response to tention to the inevitable jobs question. On the whole, Wunderlich said the “Um, welcome to @DowntownMem- the posted question “Will Morgan Keegan “I think in the short term in Memphis, deal presents positives for his firm, too, phis, Raymond James,” Morris tweeted. still be headquartered in Memphis?” the you won’t see it,” he said. “But the only way which was competing within the last few “Hope you’ll get comfortable and stay answer instead refers to Raymond James. these deals work is through the merging days for an energy underwriting deal with awhile. Look forward to talking with you.” “Memphis will be the headquarters of of – the consolidation of services and the Morgan Keegan and Raymond James. That From Raymond James’ perspective, the Raymond James’ Fixed Income and Public consolidation of overlap. You have to cut led Wunderlich to point out the obvious – deal has plenty of upside. Finance businesses,” the answer reads. overlap. You can’t carry two of everything. that the announcement takes one of those Regions agreed to indemnify Ray- “Additionally, Raymond James will con- And the plain truth is this: this is a Florida competitors off the playing field. mond James for all pre-closing litigation tinue to operate a regional support center firm. I will tell you that, unfortunately, a “Raymond James is a well-thought-of matters – which means Raymond James in Memphis.” majority of the support-type roles may firm, and I think the deal makes a lot of isn’t buying the fallout from lawsuits and Regions will get total proceeds of well be in Florida, not in Memphis. sense,” Wunderlich said, adding that the arbitrations that have dogged Regions and $1.18 billion by selling the Memphis firm “Raymond James is a great firm. Mor- ability of the combined firm to say it’s one Morgan Keegan for the last several years it bought in 2001 for $812 million, which gan Keegan is a great firm. What you hope of the largest such investment shops in largely related to fallout from a segment of included a retention bonus pool of $23 is two great firms make a better firm.” the country not based on Wall Street will Morgan Keegan’s mutual fund business. million.

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SPORTS TICKER: The Redbirds are getting a huge technological upgrade at their AutoZone Park home with a high- definition video screen to replace the electronic display in right field. See how it looks at memphisredbirds.com. sports

GRIZZLIES

THE PRESS BOX DON WADE Grizz Struggling Wins Shouldn’t Be This Hard For Tigers Without Z-Bo as MLK et’s start with the positives. The Tigers have a five-game winning Lstreak. They’re 2-0 in Conference USA heading into the Saturday, Jan. 14, Game Approaches game at Houston. Which means they didn’t lose to a horrid UAB team in Bir- mingham (but they almost did), and they didn’t give away a game at home against Southern Miss (although they gave it the old college try). “A win is a win,” said Memphis forward Tarik Black after the Tigers escaped with a 60-58 victory over Southern Miss on Wednesday, Jan. 11, at FedExForum. “People look at us having a weak conference, but it’s not,” said point guard Antonio Barton. “A win is a win.” Is there an echo in here? Look, I get the whole “win-is-a-win” thing. And there were some nice plays down the stretch. Black made a monster block. Will Barton hit a clutch moving jumper and Black and Chris Crawford made late free throws. But this team still refuses to take two steps forward without taking one step back. The Tigers blew a 12-point second- half lead when, as Will Barton said, “We relaxed and got a little sloppy.” The Tigers had eight assists and 13 turnovers; Craw- ford alone had four without any assists and Antonio Barton had three TOs with one assist. All of which makes the Tigers (11-5) a still very unimposing team. “This team is no better than us and we knew that going in,” said USM coach Larry Eustachy. In fact, it was the Golden Eagles’ mistakes under pressure, including fouling Crawford in the backcourt with the score tied and 32 seconds left, that did them in. Or as Eustachy said, citing the loud crowd, “We had a couple of guys crap themselves. It was too much for them. It’s AP Photo: Nam Y. Huh a great home-court advantage.” Chicago Bulls center Joakim Noah (13) celebrates a dunk as Memphis Grizzlies’ Marc Gasol (33) walks past during the third Makes you wonder how the Tigers quarter of their game on Jan. 1. The two have a rematch in Monday’s Martin Luther King Jr. Day game. will fare on the road the rest of the way, doesn’t it? Coach Josh Pastner preached in his press conference about how good USM is, and how C-USA is better than DON WADE | Special to The Memphis News the PAC-12 and better than a lot of other leagues. But honestly, does it have to be this difficult for the Tigers to win C-USA t’s almost cruel. At a time when the Grizzlies are playing “I used to watch the old NBA classics with (Drexler) and games? without their best player, power forward Zach Ran- Michael Jordan playing against each other,” said Grizzlies “A lot of people think our league’s not Idolph, NBA legends George Gervin and Clyde Drexler point guard Mike Conley. “We’d love to have him in uni- good and that’s not living in the present,” are coming to FedExForum. form.” Pastner said. “That’s living in seven years Drexler and Gervin are being honored on Monday, Jan. Ditto for Gervin, a player with whom Grizzlies coach a g o.” 16, for their contributions to civil rights as part of the Martin Lionel Hollins has plenty of first-hand knowledge. Then here’s a page from 2012: C-USA Luther King Jr. Day celebration. There’s also the matter “One of the great scorers in the NBA,” Hollins said. “He parity now comes in stripes. of the Grizzlies’ nationally televised noon tip-off with the was like (Kevin) Durant. He’d go out every night and be very Don Wade is a former sports reporter Bulls, the team that handed them a 40-point loss in Chicago efficient. He could shoot jump shots, go to the basket, he for The Commercial Appeal. His column earlier this season. So imagine if the Grizzlies could sneak had the finger roll, dunking … we had some great battles. “Clyde the Glide” and Gervin, aka “The Iceman,” into uni- He wasn’t a great defensive player and I had some nights in appears weekly in The Memphis News. form and find a way to make the years magically melt away the high 30s against him. He had some nights in the high for a couple of hours. 40s against me.” www.thememphisnews.com January 14-20, 2012 21

sports Tigers Begin 2-0 in C-USA

Of course, short of getting those old is another culprit. He routinely swats at The Memphis men’s NBA classics to spring to life, the Grizzlies IF YOU GO balls in traffic instead of making a strong basketball team kicked off its will have to press on with the players they move to secure a rebound. 10th annual MLK Jr. Day do have. Whether that’s enough for the There is some hope in forward Dante Conference USA Celebration, Monday, Jan. 16, Grizzlies to make it back to the playoffs is Cunningham, who plays with the motor schedule with at FedExForum a question Hollins says he can’t answer. that Speights lacks and that Gay only oc- wins over rivals 9:30 a.m.: Doors open. “We’re gonna find out as we go for- casionally finds. UAB and Southern Miss. ward,” Hollins said moments after the 10 a.m. to 11 a.m.: Sports Legacy “We need that energy,” Conley said. The Tigers have dominated Grizzlies dropped their second straight Symposium, presented by the What they don’t need, and what Gasol the conference, winning the game to Oklahoma City at FedExForum Hyde Family Foundation, featuring says they won’t use, are excuses. regular season five times and this season, this one a 100-95 loss on George Gervin and Clyde Drexler, “We know Zach and Darrell (Arthur) Tuesday, Jan. 10, before a half-empty who will share their experiences are out and that’s just the way it is,” Gasol conference tourney five times arena. about their contributions to civil said. “We’re not going to say we’re losing in the past decade. “I was hoping for a little better crowd and human rights and tell stories because they’re out.” with Oklahoma City coming back in,” from their life in the NBA. Admis- But at some level, they are losing SEASON C-USA RECORD Hollins admitted. “But we have to go out sion to the symposium, held in the because they’re out. This edition of the and create excitement for fans to get them team’s practice court at FedEx- Grizzlies would lose to the team that 2010-2011 10-6 back in the building.” Forum, is free with purchase of a pushed Oklahoma City to a seventh game 2009-2010 13-3 There will be no shortage of excite- game ticket. in the Western Conference semifinals at ment Monday with former Memphis Tiger least four out of five times. 2008-2009 16-0* Noon: Grizzlies vs. Chicago Bulls Derrick Rose and the Bulls in the house. “Zach’s the heart and soul of that 2007-2008 16-0* But there should also be some urgency team,” said the Thunder’s Durant. “I like because by tip-off, the lockout-shortened Speights and I like Dante, but it’s tough 2006-2007 16-0* 66-game season will be one-sixth done. outrebounded 51-39 even though center to replace an elite player. Marc and Zach 2005-2006 13-1* “It’s still early,” said forward Rudy Gay. Marc Gasol had a game-high 14 boards. played off each other so well. They can “We have a lot of season left.” “We got crunched on the glass again,” still throw the ball into the post, but it’s 2004-2005 9-7 Technically true, but there now have Hollins said. not like with Zach where he could go get a 2003-2004 12-4 been enough games without Randolph Most puzzling is newcomer Marreese basket for you when you needed it.” (expected to miss six to eight weeks with Speights, a 6-10, 255-pound forward/cen- Hollins is neither panicking nor pre- 2002-2003 13-3 a torn right MCL) to see that the Griz- ter, who managed all of one rebound in dicting. 2001-2002 12-4 zlies may find it impossible to replace his 20 minutes and showed no ambition for “I’ve been a part of teams that haven’t scoring and rebounding (20.1 points and playing defense. He has a nice, feathery started well,” he said. “Eventually, they * Years Tigers won both season 12.2 rebounds last season). In the latest jump shot, but this isn’t a game of H-O- became good. You just play. When all the and tournament titles loss to the Thunder, the Grizzlies were R-S-E. Gay, who is 6-8 and has mad hops, dust settles, we’ll be where we are.”

Special Emphasis Issues What’s Coming Up

DEC. 17 SMALL BUSINESS

JAN. 21 EDUCATION

JAN. 28 SMALL BUSINESS

FEB. 11 CONSTRUCTION

FEB. 25 FINANCIAL SERVICES

For information about advertising in these upcoming issues, &RIDAY¬AT¬PM¬7+./ contact your account executive or Advertising Director &RIDAY¬AT¬PM¬¬PM¬7+./ Don Fancher at 901-528-5283 or [email protected] 3UNDAY¬AT¬AM¬7+./ 22 January 14-20, 2012 www.thememphisnews.com

How to Attract SMALL BUSINESS SPOTLIGHT Clients With Billie’s Pecans Meshes Clarity In my role as a consultant, I Family Recipes, Internet occasionally encounter situations where, shall we say, things are not going well for my clients and they want solutions to their problems. ANDY MEEK | The Memphis News Recently, a client asked me the following interesting question, “If you were asked to give your clients the best advice you could offer in one sentence or less, what would you say to rank Capra might have loved them?” Without to film the story of Billie’s Pe- thinking much Fcans, a business that started on about it, I replied, a family farm in Mississippi and grew “Seek and pro- over the years thanks to a mixture of vide clarity.” earnestness and family recipes. Clarity will not It began as a hobby. A few decades solve every prob- ago, Billie Crenshaw started collect- chris cRouch lem or help you ing the abundance of pecans on her SMART STUFF take advantage of husband’s farm in the small town of 4 WORK every opportunity Crenshaw and using them in recipes related to your as fast as she could dream them up. business, but it will usually be a significant It soon grew from a hobby into some- part of any solution. Think of the frustrations thing more. and failures you experienced last year. How Her sons realized the sweet treats Photo: Lance Murphey many of them were somehow related to lack were good enough to be sold, they Stacy Crenshaw shows a selection of pecans and toffees produced by Billie’s Pe- of clarity? Now think about your successes. told their mother so, and she started cans in Crenshaw, Miss. Crenshaw is the daughter-in-law of Billie Crenshaw, who How important was clarity in these situations? selling them in Memphis at a place started the business 25 years ago in her kitchen. OK, enough philosophical discussion called Market Basket. She found ad- about the value of clarity. I think most of ditional outlets to distribute them learned from her.” “Online is a big part of the busi- you understand this without me telling you. – and one thing, as they say, led to Crenshaw said her mother-in- ness now, too,” she added. “We’re However, the important question is, “How another. law asked her about 20 years ago seasonal, but we do ship all year long. can I do a better job of seeking and providing Eventually, she opened her own to go into business with her. So she The busiest time of the year is Octo- clarity?” A simple three-step process could be shop to sell and distribute her cre- did, and the business continued to ber through January. A lot of corpo- the answer. It involves pausing briefly before ations herself. grow and products continued to rate clients also send our pecans to you act or speak and answering the following Crenshaw died a few months ago be added. The business’s product new clients.” three questions: 1. What? 2. So What? 3. Now at age 80. Her daughter-in-law Stacy line now includes everything from The business’s online presence What? Let’s clarify the purpose of these three is the business’s current owner and Southern pecans to milk chocolate includes Facebook (www.facebook. questions. ensures that it remains infused with pecans – which many customers of com/BilliesPecans), Twitter (@bil- What? – Think about how you can best its down-home tradition even as it Billie’s Pecans likely will be ordering liespecans) and a website (www.bil- describe or articulate exactly what you are grows thanks to a multi-faceted Web next month for a certain holiday for liespecans.com). Plus, an email blast thinking or talking about in as few words as presence. couples. is sent out for different occasions. The Billie’s Pecans website prom- Today, Billie’s Pecans products An e-blast being sent out in tan- possible (similar to a newspaper headline). ises: “As the world changes around have been sold and delivered to cus- dem with Valentine’s Day entices cus- So What? – Describe why you, or the us, we’ve kept things as simple as tomers in all 50 states, plus a growing tomers to buy “our Simply Duo, the person (or people) you are managing, selling ever.” number of foreign countries. perfect combination of cinnamon- to, or communicating with should care about Stacy Crenshaw lives with her “Around 2004, (Billie) and her spiced pecans and chocolate-covered the issue. husband in East Memphis, yet she husband moved up here because they pecans.” Now What? – Once you and others you are still travels about 65 miles each week were getting older and wanted to be Crenshaw said one of her favor- dealing with clearly understand the idea and because of her desire to keep the around the boys,” Crenshaw said. “It’s ite parts about the work is getting to understand why it is important, determine business where Billie intended. about an hour’s drive down there, but meet so many different types of peo- what action you (or they) can take to follow up “My mother-in-law was the most we’ve still kept it there and had the ple from around the world. on the idea. wonderful person in the whole same employees for years.” “I love being able to communicate Hopefully by now you understand exactly world,” Crenshaw said. “She was She said the presence in Cren- and talk with them,” she said. “Some- what I am talking about (clarity) and why it is incredible, easy to work with, she shaw includes a storefront, shipping times, if they’re from far away, I can important (it can help you solve problems and laughed all the time and she was department, packing department and tell they love listening to our accents take advantage of opportunities). Now let’s just a joy. She learned from me, and I cooking area. too.” focus on how you can follow up on this idea. When you sense lack of clarity related to important issues in your life, get out a blank sheet of paper and divide it into three sections. Make keyword notes related to your thoughts on the three different questions in Magna Bank goes the three different sections. Do whatever it takes to refine and distill your thoughts. Stick beyond perceived with it until you are clear about what you are thinking or talking about, why it is important “customer service. and what to do about it. Of course, the piece of paper is not as important as learning to think in terms of the three questions. — Robert Creech, President In addition to other benefits, implementing this idea can help you attract clients. People ” are bombarded with a relentless barrage of confusing information every day. In such an Contact Magna Commercial Division for the very environment, the competitive advantage best in customer service for your company. shifts to those who can clearly and consistently articulate answers to the questions What? So What? and Now What? Magna Commercial Division 901.259.5642 magnabank.com www.thememphisnews.com January 14-20, 2012 23

Memphis NEWSMAKERS Igniting Your Holtz Joins Fulmer Companies Sales Team’s Performance TAYLOR SHOPTAW | The Memphis News Selling is tough. It’s hard on the ego and requires exceedingly high energy levels. That’s why it takes more than money to Wendy Holtz has joined Fulmer Cos. as its marketing communica- keep salespeople fired up and on target. tions manager. When performance falters, managers Hometown: New Braunfels, Texas add strength to the marketing and often struggle with how to proceed. Many product development teams and of- tolerate mediocrity to avoid making waves Education: B.S. in communications fer communications to dealers, media or having to recruit. Turning a blind eye to from the University of Texas, Austin; and consumers. My role involves a those who aren’t putting in the effort sends a M.B.A. in international business from component of development, mar- dangerous message San Diego State University keting and strategic direction for all to your top players brand lines, which include Fulmer Hel- about your com- Family: Son, Cole, 7 mets, Fulmer Apparel and Memphis pany’s tolerance for Car Audio. underperformance. What drew you to Fulmer? I love the It can create a ripple creativity allowed with the industry What do you enjoy about work? I effect of poor perfor- and product lines. There are always enjoy the variety of projects and the mance throughout new opportunities in handling busi- license to try different things. I also your organization, Lori turner- spreading like a virus. ness and room for trying something like that we are in an industry that is HOLTZ wilson different with the strategies. I also like considered recreational so you are al- So how do you Photo: Lance Murphey guerrilla sales that we have an international foot- ways looking for ways to improve the and marketing light a fire under your print and always need to be aware of experience. I also am excited about Dr. Guillermo Oliver of St. low performers? changes in the industry. Being on the the ability to travel to visit events and Jude Children’s Research Hos- First, determine if the issue is a lack of skills front end of new products and cus- shows to assess what our best next pital, has been elected a fellow or effort by spending time with them going tomer perceptions is also energizing steps are from an internal perspective in the American Association for out on calls. If the issue is the former, provide and exciting. A new helmet looks very and from a customer standpoint. I get the Advancement of Science. the training they need, pronto – either from a different when you understand the to test new products and new mar- high-performing peer or an external resource. motivations behind an Italian-based kets and define a campaign accord- Farris Bobango PLC attor- If the issue is the latter, dig more deeply to design when we incorporate it into an ingly. That’s where you really cinch neys John A. Bobango, Robert F. understand the underlying issues. If it’s a lack American lifestyle. something fun with a business strat- Miller and Barry F. White have of motivation, determine why. egy and figure out how all the players been named Top 50 Memphis Just like with a prospect, conduct a needs What will your role entail? I help to are involved to make it successful. Super Lawyers 2011. Bobango, assessment with your sales rep, asking: What Miller and White have been do you enjoy most about your job? What else, named Top 100 Tennessee Super besides a bigger paycheck, would make you Lawyers 2011. Bobango, Miller, feel like you’re more successful at work or in White and Richard Bennett life? What would you like to do more of or less were recognized as Super Law- of to make your job more interesting? yers in their practice areas by It’s important that each member of your the Mid-South Super Lawyers. sales team feels valued. Show them you are A3;7@7:#63/:B61/@3@34=@;6SOZbVQO`S`ST]`[`S[OW\aOV]bb]^WQeWbV\Se properties manager. stars, with the rest of the pack figuring they `cZSaO\R`SUcZObW]\abOYW\USTTSQbSOQVgSO`bV`]cUV !ES¸ZZbOYSOZ]]YObbVS W[ÔQbbVSZSUWaZObW]\WaVOdW\UO\ReVObeSQO\Sf^SQbW\ ! can’t compete and simply giving up. Create a Three employees of The program that allows everyone who puts forth 8C<3%;=<3G;/@93BABVSW\bS`\ObW]\OZ\ObW]\OZO\RZ]QOZSQ]\][WSaVOdS Eclectic Eye have earned na- the required effort to win at some level. PSS\c\RS`b`S[S\R]ca^`Saac`SaW\QSBVS5`SOb@SQSaaW]\]T & 'ES¸ZZbOYSO tional optical certifications. Z]]YObV]ebVSSQ]\][gWa`SQ]dS`W\UO\ReVObbVS[O`YSbaVOdSW\ab]`ST]`caW\ Also consider building winning teams with Kyra Condo, manager of the an incentive for each member to mentor and /C5CAB ACAB/7B3;03@ 0CA7<3AA=463/:B61/@36SOZbVQO`S`S[OW\a]\S]TbVS support team leader, and Aaron ^`W[O`gR`WdSà]TSQ]\][WQRSdSZ]^[S\bW\;S[^VWaES¸ZZbOYSO\W\RS^bVZ]]YObbVS free lunch or the ability to leave early on Friday W\Rcab`gWbaQVOZZS\USaO\R]^^]`bc\WbWSaO\RWba]cbZ]]YT]`bVS`Sab]T O\R ! Reagan, retail manager of the when targets are met, will go a long way. Midtown boutique, earned cer- <=D3;03@ 1@3@3D73E4=@31/ABEWbVOT]Qca]\Q][[S`QWOZ`SOZSabObS Reinforce positive behavior often, and tifications from ABO and Na- ]TTWQSW\Rcab`WOZ`SbOWZO\R[cZbWTO[WZgeS¸ZZbOYSOZ]]YObV]eSOQVaSQb]`VOaTO`SR when you do, slow down, focus on the conver- Rc`W\U O\ReVObQO\PSSf^SQbSRW\ ! tional Contact Lens Examiners. sation, look them in the eye and be specific Eight attorneys from Bass, about what they did well. Bear in mind that Berry & Sims PLC have been salespeople thrive on public recognition. At named Mid-South Super Law- the end of the day, you must lead by example. If you’re down about the market or company, 3OQVaS[W\OèWZZTSObc`SOYSg\]bSa^SOYS`T]ZZ]eSRPgO\W\bSÒQbWdS yers 2011: John A. Good, securi- RWaQcaaW]\eWbVOÔ\SZ]TW\Rcab`gZSORSà/Q]QYbOWZ`SQS^bW]\eWbVbVSa^SOYSà ties and corporate finance; J. your team will follow your lead. Walk the talk. O\RÔ\SZWabaeWZZT]ZZ]ebVS^`SaS\bObW]\ Brook Lathram, business litiga- Lori Turner is an award-winning colum- 4]`W\T]`[ObW]\]\bVSaS[W\Oà]à^]\a]àVW^]^^]`bc\WbWSa^ZSOaSQ]\bOQb nist and managing partner of RedRover Sales 2]\4O\QVSÒb' # &# &!]`RTO\QVS`.[S[^VWaROWZg\SeaQ][ tion; Stephen W. Ragland, business litigation; John C. Speer, & Marketing, www.redrovercompany.com. You business litigation; Richard R. can follow RedRover on Twitter (@redrov- A3;7

Memphis Law Talk Don’t ‘Beg’ Hamm Drawn to Firm The Question From a newspaper article: “The question begs: Why go crazy celebrating a victory in late May like it was October?” Journalists, please! Don’t use, or draw from, For its Public Service “beg the question” unless you know what it means. Leave it alone! “Beg the question” is not synony-

ANDY MEEK | The Memphis News mous with “raise the question.” And “the question begs” is way wrong, even if viewed idiomatically. The “beg” of the phrase is not someone saying “Please?” The “question” of this phrase is not “May I have a word?” or the like. “Begging the question” is a term of logic, from “petitio principii,” which is Latin for “assuming the original issue.” “Wikipedia” inter- prets this as “a request (petitio) for the beginning, VIC FLEMING or premise (principii)” of a I SWEAR point stated. If I say, “You’re begging the question,” it means “Your premise depends on the truth of the matter in point.” Thus, “question” means, in essence, issue, in the debate sense; no interrogative sentence is involved. Aristotle wrote of petitio principii in 350 B.C.E., so it’s ancient. The foregoing sentence does not beg the question. Insert “well-known” for “ancient,” and it does beg the question. That something’s old doesn’t mean it’s well known. “It’s ancient; there- fore, it must be pretty old” begs the question in a different sense. Begging the question also occurs when one offers proof that, on examination, is but a restated version of the initial point or involves a premise that itself needs proof. Linguists hope this phrase does not go the way of “apropos” (30 years ago it did not mean “appropriate” but, through misuse, now does). It’s on track to do that, though, I Swear Crossword as talking HAMM Fleming’s weekly puzzle Page 32 heads misuse it, Photo: Lance Murphey especially ary Hamm was probably the Association of Women Attor- number of employment law cases, in sports journalism. destined to end up at neys. which come through federal court. “The Colts have lost 10 games, begging the MBurch, Porter & Johnson She’s involved with the Memphis “They’re so fact-intensive and question: Does Manning’s injury cause other PLLC, a Memphis law firm with a sto- Bar Association’s labor and employ- fact-driven, and they just appeal to players to lose confidence?” Insert “raising” for ried past, a roster of well-known legal ment group. And there’s a compo- me,” said Hamm, who began work- “begging” and the sentence is fine. As it stands, it’s talent and a history of social justice nent of what she does that involves ing on many of those cases after she wrong. “The question begs: With Manning out for work. consulting with employers before arrived at Burch Porter as well, so- the season, will the Colts win even one game?” is Hamm, an associate who joined a matter ever gets to the point of a lidifying her focus area. doubly wrong. Ironically, the latter convention, if we the firm in September 2007, recalls lawsuit. Such cases generally involve may call it that, evolved from “the question begs to being approached as a summer Often, they’ll come to the firm helping defend companies that have be asked,” which someone coined to “correct” the clerk by a group of Burch Porter at- needing help to address a potential lawsuits filed against them for a va- former. torneys. They told her about the issue they see on the horizon and riety of reasons such as discrimina- Remember, non-interrogative statements beg firm’s history of public service, want to address first. tion or sexual harassment. the question. E.g.: which includes representing Dr. “I had a friend that said you Some of the hot issues across “If it wasn’t illegal, it wouldn’t be prohibited.” Martin Luther King Jr. during the really need to give (Burch Porter) that sector at the moment include “You can trust Hillary, because I’ve known her all sanitation workers’ march in 1968, a shot,” Hamm said. “And I was at- wage and hour claims, the Fair La- her life.” and it was that history that helped tracted to the history of our firm, its bor Standards Act and the proper “This is bad because the sheriff said not to do it.” spur her interest. Memphis roots, that people here are classification of employees as ex- My favorite example is from “Newhart.” Dick The firm also famously has so socially conscious and the fact empt or not under the FLSA. Loudin, host of “Vermont Today,” offers a prize for championed environmental and that it’s important to the lawyers Asked to give advice to aspiring the world’s smallest horse. One of the locals brings conservation cases, including a case here to have a good work-life bal- lawyers, Hamm said strong com- in a tiny equine specimen. Loudin asks, “How do you that helped stop Interstate 40 from ance. We also have a lot of attorneys munication skills are indispensable. know he’s the world’s smallest horse?” cutting through Overton Park. here who have been involved in “And that includes both writ- The owner replies, “Look at him!” That assumes “At (the University of Tennessee), environmental activities and civil ten and oral communication,” she the original point, without proving it. It seems to of- they drilled into us law students rights activities.” said. “You need to be able to express fer proof that, on analysis, is no proof at all, because that lawyers are public servants,” Hamm got her bachelor’s and yourself clearly and thoroughly to the validity of the method (looking at the horse) is law degrees from the University of lots of different types of audiences.” said Hamm, who adheres to that itself not proved. The horse owner begged the ques- idea inside and outside her law of- Tennessee. She graduated from the To that end, she reads as many tion in spades! fice. school’s college of law magna cum books as she has time to digest, a Hamm, whose focus includes laude in 2005. pleasure that helps hone communi- Vic Fleming is a district court judge in Little employment law on the manage- She worked as a law clerk for Jo- cation skills. Rock, Ark., where he also teaches at the William H. ment side of the equation, has seph Hood, U.S. District Court judge “I think I have started reading Bowen School of Law. Contact him at vicfleming@ worked on several cases for Mem- for the Eastern District of Kentucky, a lot more for pleasure than I have att.net. phis Area Legal Services. She works from 2005 through 2007. That’s in the last five to 10 years,” Hamm with a mentorship program through where she was exposed to a large said. www.thememphisnews.com January 14-20, 2012 25

Memphis STANDOUT Weirich Exemplifies Hands-On Approach

BILL DRIES | The Memphis News over the last year, moving into this of- so, on the front lines of so many of these fice, thinking about some of the com- conversations. ments that you would always hear about Weirich and her predecessor, Bill Gib- Mr. Dunavant – that when you went into bons, had talked about her becoming dis- Editor’s Note: A Daily News series features the clerk’s office he was right there at the trict attorney general as Gibbons and Bill past winners of the Bobby Dunavant Pub- front desk with his sleeves rolled up and Haslam, then the Republican nominee lic Service Awards, which annually honor doing the work of those that he led.” for governor, began talking more once one elected and one non-elected govern- Dunavant did not keep a separate of- Gibbons dropped out of the 2010 GOP pri- ment official. The 2012 awards will be pre- fice in the Probate Court clerk’s office. mary for governor. Gibbons had already sented Feb. 22. His desk was behind the counter along appointed Weirich as deputy district at- with his employees’ desks. torney in August 2010. here could be a tendency to believe Weirich is applying that example in a Once Haslam won the election that that Amy Weirich’s rise to becom- departure from the practice of past dis- November, the talks about Gibbons play- Ting Shelby County’s top prosecutor trict attorneys general, many of whom ing a role in his administration got much has been sudden. did not try cases, citing the administra- more specific. As they did, Gibbons told But Weirich’s move to District At- tive workload that comes with the elected Haslam he wanted to pick his successor. torney General late last year wasn’t a position. Haslam agreed and Weirich, the ca- surprise – even though it came together “It’s part of the reason that I will con- reer prosecutor whose tenure in the of- quickly. WEIRICH tinue to handle cases in the courtroom fice began with District Attorney General Beneath the rapid movement is a Photo: Bob Bayne and to be here and be available for the John Pierotti, was Haslam’s first appoint- newcomer to retail politics who has not of Memphis East. prosecutors and the staff,” she said. ment of a local official as he named Gib- reacted to the new turf as if it is a differ- This is the first in a series of profiles The balance of courtroom and ad- bons Tennessee Safety and Homeland ent world. Weirich has crossed over with on past winners of the Dunavant Awards. ministration is challenging. Security commissioner. a consistency rarely seen in such transi- The 2012 awards, sponsored by The Daily The reach of the office has expanded Weirich is running unopposed in the tions and on her own terms. News and the University of Memphis, from courtrooms and case loads to be- March 6 Republican primary. She will It is her work as an appointed official will be given at a Feb. 22 luncheon at the ing a partner in crime-prevention efforts meet challenger Carol Chumney, a for- that earned Weirich one of last year’s two University of Memphis Holiday Inn, 3700 whose goal is fewer cases and less crime. mer Memphis City Council member who Bobby Dunavant Public Service Awards, Central Ave. “The role of the prosecutor … has is running unopposed in the March 6 presented annually by the late Probate “It was a huge honor,” Weirich said changed a lot in the last five to 10 years,” Democratic primary, on the Aug. 2 coun- Court clerk’s family and the Rotary Club of the award. “I often have found myself she said. “We find ourselves, rightfully ty general election ballot. 26 January 14-20, 2012 www.thememphisnews.com

Chen Shares Story community At Leadership Academy Lunch Crossing Boundaries

BILL DRIES | The Memphis News AISLING MAKI | The Memphis News

ei Chen, the Memphis-based businessman who last spring Wbecame the first Chinese citizen to fly around the world in a single-engine plane, shared his rags-to-riches story with Memphians Jan. 10, during a sold-out lunchtime presentation hosted by the Leadership Academy at its 22 N. Front St. office. Chen is a trustee of the nonprofit organization, which provides emerging leaders with the tools, experiences and connections they need to help make Memphis a city of choice and improve the quality of life for its residents. Chen exemplifies the American Dream. Chen, who describes himself as a “very ordinary Chinese person,” was born in the Hunan Province in 1971. His childhood in Changsha City was marked by hunger and poverty. “I just want to share my story and hopefully people will appreciate more what they’ve got over here, instead of complaining about what they don’t have,” Photo: Lance Murphey Chen said. In honor of her late son Max Rose, Gayle Rose introduces the Memphis Symphony Orchestra for a performance Chen was awarded a full academic at the Memphis Union Mission’s Opportunity Center at 600 Poplar Ave. scholarship to the Fogelman College of Business and Economics at the Univer- sity of Memphis. After graduating with a Master of Business Administration degree Team Max serves Memphis area in unconventional ways in 1998, Chen founded his own business, Sunshine Enterprises, which today em- hilanthropy takes a lot of plan- sic,” she said of the idea to organize a “It is growing because I think people ploys more than 400 employees and has ning and a lot of caution – so concert by the Memphis Symphony know that something really interesting four offices in the United States and two Pmuch so that young adults might Orchestra and Chorus at the Memphis is happening,” Rose said of the ap- manufacturing facilities in China. give it a wide berth when it comes to Union Mission’s Opportunity Center, proach used by Team Max. “You don’t “When I came to Memphis, I basically ongoing involvement in the fundrais- 600 Poplar Ave. have to have money to come out. You had nothing,” he said. “I came because of ing that is a central function of philan- “It was like, what if the symphony don’t have to be a member of society. a scholarship the University of Memphis thropy. played a concert, not just for the home- You just have to answer a call to come offered to me. Then I met my wife over Since 2009, however, a philanthropic less but for us to Max – a community all and act and then interact with people. here at school and started a business right pursuit called Team Max has been together – a community all in the room Get to know people you don’t know and here in Memphis. I didn’t have to go to bending some of the traditional guide- together,” she said of the Jan. 3 event understand what’s going on in their New York or Los Angeles to be successful; lines. The tool of those behind Team that drew a standing room only crowd community.” I had everything I needed here in Mem- Max is social media, and the goal isn’t of 400 people, including several hun- Steve Carpenter of the mission phis, in a good, central, internationally always fundraising. dred from the nearby mission shelter agreed to use the old furniture store the recognized location.” Team Max is named for Max Rose, with Memphis Police acting as crossing mission turned into an outreach center Although Chen said hard work, rela- the son of Memphis philanthropist guards for the group. this past June because there wasn’t tionship-building and luck each played a Gayle Rose – long known for her work in “What’s common here is that we are enough room in the shelter to the west. role in his success, none of it would have philanthropy as well as her work across all human beings and we all experience “We thought it all sounded like a been possible without the unique oppor- its boundaries, including the city’s loss,” Rose said. “And in this room there pretty good thing and something that tunities that Memphis afforded him. drive for an NBA franchise. After Max’s are people who have lost their homes we thought would honor the memory of “I felt the opportunity I got here is death in January 2009, the 19-year old’s or lost their way. There’s also a lot of us her son and also do something special something you can’t really get anywhere friends approached Gayle Rose about who have lost a child or a friend or a for the people we serve,” he said of the else,” Chen said. “It’s tied to the big suc- ways to continue his work with charities sibling.” approach he and others at the mission cess of FedEx and all those companies and nonprofits, prompting her to put The program comprised four urge their first-time volunteers to take. here.” together a Facebook page. musical selections from the symphony, “We encourage them not to stand Chen said that on Tuesday, Jan. 17, “We just kind of spontaneously put starting with Aaron Copland’s “Fanfare back. We encourage them to mix and Memphis will be featured on China’s a Facebook page together and the kids for the Common Man.” Between the mingle with the people. … Don’t stand most-viewed television program of the like it because there’s not a real orga- selections, including two featuring the on the periphery but sit down in the year “The Chinese Spring Festival Gala,” nization involved,” she said. “There’s chorus, were readings of Max Rose’s po- midst of people. They are people so which is expected to attract 700 million no mission statements and committee ems found in a notebook the Tennessee there’s no need to stand back.” viewers. A segment about Chen’s historic work and all of that. We just serve.” Highway Patrol returned to his parents Rose said the encounter works both journey and his life in Memphis will air Team Max will be among those from the car crash that took his life. ways. during the program. It will feature the collecting canned food at the National “Sometimes the cube won’t fit in “This is really about taking it to the Memphis Grizzlies, as well as Memphis Civil Rights Museum, 450 Mulberry St., the circle-shaped hole,” he wrote in one street and just seeing what’s happening Mayor A C Wharton Jr. and Shelby County on Monday, Jan. 16, the national holiday passage. “No one said it would be easy, in our community and understanding Mayor Mark Luttrell. Chen said he hopes honoring Dr. Martin Luther King Jr. In but who wants it be easy.” that these are people,” she said. “They the program will bring more Chinese October, Rose went to the Facebook As the passage was read in a room are not to be feared. … They deserve our tourists to Memphis and help nurture a page with an idea to mark the third an- where those who owned several homes respect. I’d also like to ask them to do business relationship between Bluff City niversary of her son’s death. sat next to those with no home beyond something for us. Mostly what they can businesses and the world’s second-largest “I thought about how Max loved the mission shelter, people of both do is pray for us. It’s a reciprocal kind of economy. music and the healing power of mu- experiences nodded their heads. relationship.” www.thememphisnews.com January 14-20, 2012 27

law & the courts State Court Adopts Code of Conduct

BILL DRIES | The Memphis News

he last time the ethics rules for the recusal wants a ruling on the appeal The other factor was a recent U.S. Su- involvement by judges. Tennessee judges were rewritten before a trial begins. preme Court decision in a case in which a Judges are barred from making contri- Tthe Soviet Union still existed and Requesting that a judge hand a case West Virginia Supreme Court chief justice butions to political campaigns or orga- Tennessee Supreme Court justices ran in off to another judge is something attor- refused to recuse himself. nizations. They can buy tickets to attend contested elections. neys consider carefully because of likely In Caperton v. A.T. Massey Coal Co., campaign events. The Tennessee Supreme Court this having to practice before the same judge West Virginia Supreme Court Chief Justice “The Tennessee Supreme Court came month ended a two-year review of the on other matters. Brent Benjamin did not recuse himself down by and large with the plan that was state court system’s code of judicial “That puts you in a tough spot,” said from the case even though the president proposed by the Tennessee Bar Associa- conduct by adopting the new rules for the Tennessee Bar Association President of Massey Coal contributed $3 million to tion as opposed to some of the changes conduct of judges across the state. It is the Danny Van Horn of Memphis. “Folks were Benjamin’s successful judicial election that the Tennessee Judicial Conference first major revision since 1990. pretty hesitant to ask a judge to recuse campaign in 2004. wanted,” Van Horn said, adding there was The new code, known as Tennessee themselves, understandably.” The West Virginia high court voided broad agreement on most points. Supreme Court 10, takes effect on July 1. Van Horn, of the Butler, Snow, O’Mara, a $50 million verdict against Massey and He acknowledged the balance be- It reflects ongoing national debates about Stevens and Cannada PLLC law firm, Benjamin was among the majority on the tween political expression and political the impact of campaign contributions said judges have an obligation to prevent court who prevailed. influence was “a sticking point.” on the conduct of judges and how those attorneys from trying to select the best The U.S. Supreme Court in 2009 over- “While protecting First Amendment contributions and other factors should be venue by moving for recusal. turned the decision and sent it back to the freedoms of candidates for judicial office weighed when a judge is asked to recuse “Judges have an obligation to hear high court for a new appeal to be heard and judges themselves, we also needed him or herself. cases. They have to balance their obliga- with Benjamin recused. to protect the judicial system itself,” Van Tennessee Supreme Court Chief Jus- tion to hear cases against the rights of Prior to the decision, recusal disputes Horn said. “I think we struck a balance tice Cornelia Clark said the new rules are folks to have a fair and impartial judge recognized by the U.S. Supreme Court that is constitutional in terms of it not in- part of “maintaining a high standard of decide their matter,” he said. “The judge centered on whether a judge had any kind fringing on First Amendment rights while judicial ethics.” has to balance that. I think the situations of direct financial gain at stake from the also protecting the system from undue “We believe these changes to the code in which a judge should recuse him or dispute before the court. influence by politics. I guess time will tell of Judicial Conduct will provide Ten- herself are going to be rare. But when The Tennessee Supreme Court had on that.” nessee judges with greater guidance for they happen, they are pretty important to some decisions of its own to make. The The new rules take effect less than two conducting business of the court in a fair, folks.” TBA recommendations differed in some years before what political observers call impartial and ethical manner,” she said in The issue was the most discussed and areas from those of the Tennessee Judicial the “big ballot” – the once every eight- a written statement. deliberated of any by the TBA, Van Horn Conference, representing judges, includ- year ballot featuring non-partisan county Tennessee judges at the trial level and said. ing on the new rules governing political and state judicial races. appellate levels must put in writing their The American Bar Association’s model specific reasons for denying a motion code on judicial ethics four years ago for recusal. And that denial can get an prompted the Tennessee legal commu- expedited appeal if the attorney seeking nity’s discussion.

COMMUNITY Conservancy Seeks Leader

BILL DRIES | The Memphis News

ith its nonprofit status official over three years to convert an area for and pledged grants beginning city general services vehicles back into Wto come in, the Overton Park parkland. Conservancy is seeking a permanent New restrooms in the picnic area and executive director. renovating restrooms near Rainbow Lake The conservancy that operates and would cost $450,000. maintains the park under contract with The group also recommends a North 12n-3p the city of Memphis is forming a search Parkway park entrance and a perimeter committee to fill the leadership position. walkway along three of the four park George Cates, who, along with Meth- borders. odist Le Bonheur Healthcare CEO Gary The Hyde Foundations were among Shorb served as co-chairman of the effort the first donors to pledge to the effort. as it moved toward conservancy status, The conservancy has raised $3.2 mil- has been serving as interim executive lion in private donations toward its goal director. of a five- year, $6 million operating and Meanwhile, a $500,000 grant from the capital budget. Hyde Family Foundations is the latest The city is putting up $1.1 million contribution to the nonprofit group. over the next five years, as well. The $500,000 will be paid in three The other donors include the Plough installments through 2014 and goes to Foundation, which put up $1.5 million, as the growing fund the conservancy has es- well as individual citizens, who together tablished for operation of the park as well have pledged more than $1 million so far. as a list of $2.3 million worth of capital The Burch, Porter & Johnson PLLC projects. law firm, which helped the conservancy The largest single item on the 14 item get its nonprofit status, made a year-end capital improvements list is $500,000 cash donation of an undisclosed amount. 28 January 14-20, 2012 www.thememphisnews.com

real estate & development Loeb Shares Overton Square Plans

SARAH BAKER | The Memphis News

phis movers and shakers along the way. with requirements of the new Midtown Loeb Properties president discusses ambitious One morning, when Loeb was overlay, established to create more walk- goal of transforming entertainment district stumped after plans fell through last fall able and bike-friendly neighborhoods. with a high-scale grocer set to anchor the Other ideas on the table include an Square, he called up friend and busi- ongoing study with the Memphis Area mong the first of Bob Loeb’s com- Loeb told the Rotary crowd that for his ness partner Henry Turley – for many the Transit Authority regarding a possible ments when he addressed the firm – a longtime, family-owned Memphis pioneer of mixed-use development in Midtown shuttle that would travel as AMemphis Rotary Club Jan. 10 was real estate firm that specializes in retail – Downtown Memphis – to ask his opinion far west as where the trolley dead-ends that when his firm finishes the redevelop- the Overton Square project is “not all that for a new theme. at Cleveland Avenue and as far east as ment of Overton Square, the hope is to big of a deal” on the private side of the “He said it’s the theater district, what Liberty Bowl Memorial Stadium, on pass the Rotarian Four-Way Test. equation. Loeb will shell out $19.2 million else do you need?” Loeb said. South Hollywood Street south of Central For Rotary, the Four-Way Test is the to renovate the existing buildings around Loeb then hung up and called up Avenue. cornerstone of all action that asks the Madison Avenue and build four new ones. Jackie Nichols, founder of Playhouse on “We really plan on connecting and following questions: Is it the truth? Is it “One hundred thousand square feet the Square, and asked what to do to have collaborating,” Loeb said. “Whether its fair to all concerned? Will it build good- is really not that big of a project for a a better theater district. transportation, whether it’s events, to cre- will and better friendships? And will it be rehab and to deliver that space back into “He said you have more theaters,” ate a unique opportunity.” beneficial to all concerned? the usual form,” Loeb said. “The difficult Loeb said with a laugh, before explain- That’s why the company brought on “Our goal will be to pass the test aspect is various parts of government.” ing that black repertory theater company promotional director Anna Holtzclaw to when we finish this development,” said Loeb estimates the entire Overton Hattiloo Theatre will have a capital cam- distinguish the area with activities sepa- the president of Loeb Properties Inc. “It’s Square project will cost about $35 million. paign to relocate from Marshall Avenue to rate from Beale Street and the Cooper- been a labor of love and we think that The city was asked to chip in $16 million the south side of Overton Square. Young neighborhood. Loeb even plans to 2012 is going to be a lot more exciting for infrastructure, including a three-level, Loeb shared his ideas for mixed-use team up with the Memphis Music Foun- than 2011.” 450-space parking garage with a water concepts around the Square, such as dation and its team of 2,000 artists for Following a yearlong, much publi- detention facility underneath to alleviate transforming existing space on the south locations where they can “plug and play.” cized changing timeline among Loeb, the rain flooding throughout the Lick Creek side of Madison that’s currently 9 percent “We want to have a number of loca- city and neighborhood groups, Memphis basin. occupied into small, local boutiques and tions where musicians don’t have to cart City Council during its last meeting of In a conversationalist yet professional restaurants with residential above. all of their equipment around,” he said. 2011 approved spending $16 million in style, Loeb spelled out last year’s bumpy “Our plans are relatively modest,” “They need locations, we need talent, we city funds to improve the once-thriving road to the Rotary members – many of Loeb said. “We love taking old buildings want to connect with them.” Midtown entertainment district. which are the city’s top executives, at- and fixing them back up. National tenants Collaboration is what will set Over- torneys, physicians, educators, CEOs and have their prototype. We like the local ton Square apart, Loeb said. His parting government officials. flare.” words were a concept Rotary members He explained the many public meet- He explained his intentions to capital- could very much identify with. ings; scrolled through slides of blueprints, ize on the recent addition of bike lanes on “We don’t want to pretend that we’re sketches and renderings; and even shared Madison around the Square, which will be the only note of activity going on,” Loeb conversations he had with other Mem- the first planned development to conform said, “but how do we all work together?”

EDUCATION Schools Committee Hears Public Concerns

BILL DRIES | The Memphis News

DO YOU NEED A he first public hearing in the schools consolidation direct references to the possible formation of a separate subur- BUSINESS LOAN? process Jan. 10 drew more than 600 people to Collierville ban school system. DO YOU HAVE LESS TUnited Methodist Church. “We most respectfully decline,” one resident said of the “in- Hosted by the schools consolidation transition planning vitation” to join the merged school system. THAN PERFECT commission, the forum featured lots of opposition to the Germantown resident Ken Hoover was more direct. schools consolidation and concerns about student achievement “What the suburbs so desperately want is local control,” CREDIT? and the movement of students and teachers among schools. he said, referring to a separate school system. “That cannot be We offer business loans for your One of the last speakers was Vanecia Kimbrow, the attorney produced by the transition committee.” business and we accept credit and Collierville resident who represents the area on the county- Several parents said they would head for private schools if wide school board. She is one of the seven board members ap- their children’s teachers changed or county school superinten- scores as low as 520 with pointed last year to the 23-member school board by the Shelby dent John Aitken didn’t become head of the school system that NO COLLATERAL! County Commission. will be merged at the start of the 2013-2014 school year. “Let us allow the process to work,” she said as she expressed Planning Commission chairwoman Barbara Prescott Requirements Include: concern that the opposition could make any consolidation plan gamely tried to stick with a format the commission had care- 6 month bank statements a formality if citizens “walk away from the table before we even fully mapped out earlier this month. The public comments were Articles of Incorporation know what is possible.” supposed to be divided into hopes for the new school system to The dominant concern expressed was that a merger between come, then concerns and then dreams. 520+ Fico Score Shelby County’s two public school systems would bring down “My hope is this plan doesn’t succeed,” a Collierville parent No Credit Card Processing achievement is what is for the time being the Shelby County responded. “I don’t want to see Collierville fade away as some Required! Schools system in the county outside the city rather than im- dot on a map.” prove achievement in the Memphis City Schools system. The meeting came one week before Collierville city leaders (901) 308-8533 “Memphis City Schools need to be brought up to our level,” and leaders of the other five suburban municipalities are due to one Collierville parent said. “We need to take them over.” get a report from consultants they each hired to explore the pos- The biggest applause line of the evening was one of the few sibility of forming their own school system. www.thememphisnews.com January 14-20, 2012 29

RETAIL Memphian A. Schwab Changes Co-Authors Groundbreaking But Holds on to History PAD Study

BILL DRIES | The Memphis News AISLING MAKI | The Memphis News

Memphis physician has authored a national study centered on the cost Aand health outcomes for Medicare patients treated for peripheral artery dis- ease (PAD). It was published this month in the Journal of Vascular and Interventional Radiology. PAD, a common condition that affects about 10 million Americans aged 65 and older, is a narrowing of the blood vessels in the leg resulting from plaque build-up from high cholesterol and scar tissue. This narrowing limits the supply of oxygen and nutrients to the leg, causing pain, discomfort and an increased risk for heart attack and stroke. Dr. Richard Duszak, an interventional radiologist and coding expert at Memphis- based Mid-South Imaging and Thera- peutics, reported that Medicare patients treated for PAD experience significantly better outcomes when receiving treatment from interventional radiologists, as compared to patients who are treated by other professionals. As compared with treatment performed by other professionals, Duszak’s study showed solid evidence that PAD treatment provided by interventional ra- Photo: Lance Murphey “There's treasures everywhere,” said Terry Saunders, new co-owner of A. Schwab on Beale Street. “It's a balance between diologists results in lower risk of infection; retail and museum and whatever the next thing it needs to be.” less anesthesia; decreased use of intensive care; shorter hospital stays; fewer transfu- ecades ago, Abram Schwab Schwab to be? That’s what we’re trying recorded and live music that often sent sions; repeat procedures and amputations; had the idea of putting a blues to respond to.” visitors into his store just to escape the less pain and scarring; and a faster return Dsinger with a guitar on a stool Saunders wants to “preserve the cacophony. to normal activities. somewhere in his general store on Beale magic” and feature music on the week- “I know you have a house band and “The bottom line for the patient is Street to help along what was becoming ends – possibly in a smaller perfor- you have them play certain nights. But I one of choice,” Duszak said. “If the first a robust demand for the blues records mance area on the ground floor – and was hearing the same music at the same line of defense for PAD, which is lifestyle his store sold. use the upper level as a gathering place time every day. Just play something modification, is not enough, patients can When the store’s new owners for the school field trips to Schwab that different,” he said. “To me, you should talk to their doctors about a referral to an debuted what will be an evolving mis- she took her own children to over the walk down the street and hear music interventional radiologist or can call us or sion and look Saturday, Jan. 7, Lamar years. coming out of the building – not from another practice directly.” Sorrento and his guitar were part of the “There’s a musical heritage with three blocks away.” Interventional radiologists pioneered floor plan amid a group of sale tables. Schwab’s already in existence, and we Some of the adjustments by Saun- the most successful minimally invasive On the floor above, five musical acts want to honor that and really enhance ders were immediate. In previous trips procedures to treat PAD, which require performed in an Elvis-themed party it,” she said. “We see this as an opportu- there as a customer, she wanted some- only a small nick in the skin. Physicians that served to introduce the new owners nity to really teach the kids about music. thing with the Schwab logo on it. She use guided imagery to thread a thin tube of the Beale landmark to the public. In It’s the great equalizer. It knows no racial eventually found two items in different through an artery in the groin to the block- this case, it was a decidedly local crowd or age boundaries. It’s the thing we all parts of the story and found several age in the legs. A small balloon or a tiny coming to see bands that performed have in common. To me, it’s the golden more on a later visit to the store. When mesh tube called a stent is then used to original material in a district where egg of our city.” she went to pay, the store didn’t take open the blocked artery. most of the traffic is tourist and where Elliott Schwab, the son of Abram, credit cards – cash only. In terms of the study’s financial signifi- “Mustang Sally” can be heard frequently admitted to mixed feelings as he, Saunders initially got involved with cance, claims data for 14,000 PAD patients as well as the line, “Where are you Saunders and others slimmed down Tommy Peters, owner of the nearby B.B. showed that PAD procedures performed from?” between cover tunes. the store’s inventory and took the green King Blues Club, who had the building by interventional radiologists cost, on The store will keep its moniker, plywood off the upstairs windows. under contract. Saunders, who has a average, $1,000 less than those performed A. Schwab, and its ground floor will “It’s kind of weird to me; I don’t want commercial real estate background, was by other professionals, such as vascular remain retail with the upstairs keeping to say melancholy. It’s just that it’s al- helping with that part of the deal and surgeons and interventional cardiologists. some of its retail function. Half of the ways been retail,” Schwab said. “I don’t slowly got talked into a larger role as an Treatments for PAD performed by in- upper floor will probably be given to know really which way I want to go. I owner. terventional radiologists could potentially a museum and will double as a rental want to stay in retail. … The best part is The deal was cemented on a musical save taxpayers as much as $230 million per space for private parties and possibly a I don’t have to worry about paying the note – at a party in August for Pete Best, year. In addition to serving as an interven- gallery to sell art. bills.” the original drummer for The Beatles, tional radiologist at Mid-South Imaging “Schwab has had many chapters,” He is most excited about Saunders who was in town to play Levitt Shell. and Therapeutics since 2007, Duszak is said Terry Saunders, one of the new plan for a soda fountain and coffee bar “I’m a glutton for remaking and also associate editor of the Journal of the owners. “They saw the market wanted on the ground floor, calling it “a crown- renovating,” Saunders admitted. “I don’t American College of Radiology. blues music so they sold it. Then they ing glory.” even like to shop. … This is not really to Mid-South Imaging and Therapeutics, saw that the people who bought blues Schwab is also outspoken about me about retail. This is about preserving has provided services for Baptist Memorial music also liked voodoo items so they the environment around the store. He an institution and taking it to the next Healthcare Corp. and other service provid- added it. … What does the street need A. sees too many loudspeakers blaring level.” ers for more than four decades. 30 January 14-20, 2012 www.thememphisnews.com

arts & culture

opera Opera Memphis Dons Comic Mask

JONATHAN DEVIN | The Memphis News

pera Memphis, which opened its 2011-2012 season with the torrid romance and drama of “Tosca” Onow invites audiences to sit back and laugh. “The rest of the year it’s all happy endings,” said Ned Canty, Opera Memphis’ general director and stage director for Johann Strauss’ “Die Fledermaus,” which will be staged at the Germantown Performing Arts Centre Jan. 21 and 24. Already the production has a couple notable firsts. Namely, the Jan. 3 preview performance which was broadcast live on WKNO filled beyond capacity, sending Opera Memphis staff searching the Clark Opera Memphis Center for more chairs – something that hasn’t happened before. Canty took that as a sign that efforts to interest new adult audiences in opera are working. “There were a lot of new faces,” Canty said. “We’ve been doing so much in the past year in terms of adult outreach. The previews are great if you’re not ready to commit to opera, then you can come on a date with opera.” A familiar face was also on hand – Marguerite Piazza, who performed the soprano role, Rosalinde, at the Metro- politan Opera. For Canty, who has been in his position for more than a year, this is the first Opera Memphis production that he has directed. Previously, he directed operas as a freelancer. Among other things, he’s gotten a good sense of how his own facilities and resources work for the stage directors he hires to direct other shows, including an appreciation for the natural light in his center’s rehearsal hall, something Photo: Courtesy of Ned Canty he said most operatic rehearsal spaces don’t have. Dominic Armstrong and David Kravitz perform at the Clark Opera Memphis Center during a Jan. 3 preview of Johann Strauss’ “Die Fledermaus,” which will be staged Jan. 21 and 24 at Germantown Performing Arts Centre. “And when you’re trying to direct a comedy, that can have a big effect,” Canty said. “I’ve also found a great ef- ficiency when the director part of me says, hey, wouldn’t beknownst to his wife. Amid the slightly drunken masked second fill-in, local actor/director Ann Marie Hall took the it be great if we could rent an elephant? And the general buffoonery, both make plans for elicit affairs while falling role of Frosch, the non-singing drunken jailer. director part of me says no we can’t afford it.” for snares meant to catch the other in the act. Steven Osgood of the Metropolitan Opera music staff “Die Fledermaus” is a textbook piece, a popular opera “It’s about two people who are married and at that will conduct a 40-plus piece orchestra, which Canty said is that many singers cut their teeth on, but Canty said that seven-year itch period,” Canty said. “They love each other as much the star as anyone on stage. fits well with his intent for new audiences. The story line and love their lives, but all of these events happen that “‘Fledermaus’ is an example of how fun music can is similar to that of Shakespeare’s “A Midsummer Night’s make them remember what it feels like to be single. be,” Canty said. “The thing about Strauss is that he was a Dream” or the Broadway musical “The Fantastiks” in “For a night they spend some time being tempted composer of dance music. All of it is designed to make you which couples fall in love and are lured apart only to real- to stray outside their marriage vows and recapture their want to dance. If you’re doing it right, the audience will ize their love is still strong. It will be sung in English. youth and in the end they don’t. I think it ends with them want to get up on the stage and join the party. It’s a comedy of errors about Rosalinde, an Italian realizing that what they started with is more valuable be- “There’s a level of wit to the music which makes it a opera diva, wooed by a young tenor, Alfred, though she is cause they know what it’s like to be tempted away from it.” masterpiece. Opera can have a sense of humor.” already married. Her husband, Eisenstein, is sentenced Caroline Worra, returning to Opera Memphis, will sing And it helps that for once, nobody dies. to two weeks in jail for a minor offense but manages to the role of Rosalinde, alongside Ryan MacPherson as Al- Tickets for “Die Fledermaus” can be purchased by call- postpone his incarceration until after a masked ball, un- fred and tenor Dominic Armstrong as Eisenstein. As a last ing 257-3100 or by visiting www.operamemphis.org. happenings

»Community The 2012 Memphis International To reserve a place, contact The Sales and Marketing Seating is limited to reserve a Deborah Vaughn at 726- Society of the Mid-South seat, call 765-1849. Saint Francis Hospital- Auto Show will be held Saturday, Jan. 20, 3498, 373-6081 or deborah. will hold a luncheon featur- Memphis will host two free [email protected]. ing Jane Applegate, who will Habitat for Humanity of surgical weight loss seminars »and Friday, Jan. 21, from 10 a.m. to 9 p.m. speak on the topic “Seamless Greater Memphis will host a Saturday, Jan. 14, at 10 a.m. The Better Business Bureau Marketing: Integrating Your and Thursday, Jan. 19, at 7 and Jan. 22 from 10 a.m. to 5 p.m. at the trivia and tailgating fundraiser p.m. at the hospital, 5959 of the Mid-South will host a On and Off Line Promotions” Friday, Jan. 20, from 7 p.m. Park Ave. Seating is limited to Memphis Cook Convention Center, 255 N. breakfast seminar Tuesday, Wednesday, Jan. 18, from to 10 p.m. at the organiza- reserve a seat, call 765-1849. Jan. 17, from 7:30 a.m. to 9 11:30 a.m. to 1 p.m. at the Rac- tion’s headquarters, 7136 Main St. For more information, visit www. a.m. at 3693 Tyndale Drive. quet Club of Memphis, 5111 Winchester Road. The entry The Mid-South Peace and memphis-autoshow.com. Marlin McKelvy of Consumer Sanderlin Ave. Attendance fee is $50 for a five-person Justice Center will celebrate Directed Benefit Solutions will is free for members, $25 for team and includes traditional its 30th anniversary Saturday, speak on the topic “The New guests in advance and $30 tailgating food and two drink Jan. 14, at First Congregation- Health Insurance Landscape: at the door. To register, visit tickets. Prizes will be awarded al Church, 1000 S. Cooper St. Public and Private Health In- www.sms-midsouth.org. for first, second and third Noam Chomsky will give the program. For more informa- tional will meet Thursday, surance Exchanges, Guaran- place finishers. To register for keynote address. Cost is $50 tion or to purchase tickets, Jan. 19, at 5:30 p.m. at The teed Issue Health Insurance Saint Francis Hospital- the event, visit www.mem- per person for the seated ban- visit www.midsouthpeace.org. Grove Grill, 4550 Poplar Ave. and You.” For reservations, Memphis will host a free phishabitat.com or contact quet at 6 p.m. and $20 per Rachel Lyles, a Dave Ramsey contact Susan Harris at 757- surgical weight loss seminar person for general admission The Memphis Chapter of certified financial advisor, will 8617 or sharris@bbbmid- Thursday, Jan. 19, at 7 p.m. at HAPPENINGS, CONTINUED at 7 p.m. Both include the full Executive Women Interna- speak. Cost is $35 per person. south.org. the hospital, 5959 Park Ave. ON PAGE 33 www.thememphisnews.com January 14-20, 2012 31

food & wine

RESTAURANT INSIDER

Restaurateurs Remain MEMPHIS GRAPEVINE Fredric Koeppel Upbeat About 2012 New Grape FREDRIC KOEPPEL | The Memphis News Yields Tasty Red Wine he good news is As far as food prices that in Novem- are concerned, Edwards f you drink a wide range of wines, you Tber, the National said, “Well, a lot of that probably know the names of most Restaurant Association’s is seasonal, it all goes up Iof the important grapes. I mean, you Restaurant Performance and down. I buy locally as don’t have to take a wine class or even Index rose to its high- much as possible and can read a book to remember chardonnay, est level in five months. forego the big transporta- chenin blanc, pinot grigio and sauvignon The bad news – well, can tion costs. I get sustain- blanc; cabernet sauvignon, merlot, pinot there be any bad news if able chicken, though, noir, syrah, zinfandel. these indices hold true from North Carolina, and Of course there are thousands of for 2012? Naturally the it just went down 50 cents grape varieties in the world capable of National Restaurant As- a pound, go figure. On being made into great or just passable sociation is bullish about the other hand, one of my wines, and many of these grapes are little the figures they have suppliers had to increase known outside of their small regions. Still, complied, but let’s do a prices because the cost of scientists insist on creating new varieties little analysis. feed has gone up. So it all by crossing different species, trying to The RPI is based on evens out in the end.” draw out the advantages of each. Grisanti, general man- a “steady-state” score of Here’s one: 100; a score above 100 ager of Frank Grisanti Marselan. It’s indicates an expansion in the Embassy Suites at a fairly recent of business (and hence Shady Grove and Pop- cross of caber- optimism), while a mark lar, said, “We feel really net sauvignon under 100 indicates a upbeat. 2011 was great for and grenache period of contraction, us, as has been every year that was ap- measured in terms of two since 2008, and I real- proved in France components, the Current ize that goes against the in 1990 for use at Situation Index and the trend. What we have seen the Vin de Pays Expectations Index. is a decrease in corporate (“country wine”) A summary of the banquet business. There’s level, that is to say, not for the superior report says, “The Current just not the money out Illustration: Shutterstock AOC category. The thinking seems to be, Situation Index, which there to sustain that measures current trends activity or else it’s been OK, it’s a good grape but not that good. in four industry indicators (same-store that 2012 will show improvement for downscaled, you don’t see people going I will tell you, however, that the sales, traffic, labor and capital expendi- the local restaurant industry. News- for that $200-bottle of wine, but the din- Domaine de Couron Marselan 2010, tures), stood at 100.2 in November – up papers and television tell us that jobs ing room is full.” Vin de Pays des Coteaux de L’Ardeche, 0.8 percent from October’s level of 99.5. have been added to the business sector Grisanti conceded that being located is a terrific little wine that’s completely November marked the second time in in the past few months; gas prices are in a hotel is an advantage; the restaurant appropriate with burgers, pizza, pasta, the last three months that the Current down slightly; there’s a faint sense of the has been in that space since 1987. nachos, whatever, and it doesn’t have to Situation Index stood above 100, which economy stretching, yawning and wak- “Sure, we have a built-in audience. apologize for anything. signifies expansion in the current situa- ing from a restless Rip van Winkle-like But about 85 percent of our business has The color is a brooding inky purple tion indicators.” slumber. On the other hand, as I have always been local. What we have seen is though the wine’s bouquet and flavors The summary goes to say that for the written recently, food prices are going a big increase in lunch business because are vibrant and enticing with notes of year between November 2010 and No- to remain unstable in 2012, as political, of the growth of the office neighborhood black currants and plums, violets and vember 2011, 41 percent of restaurant ecological, climatic and demographic around us.” tar, briers and brambles and surprisingly operators reported an increase in traffic pressures combine to put the squeeze Still, spiraling food costs have af- intense graphite minerality. The texture while 32 percent reported a decline. on the global food supply, particularly in fected the restaurant. “Yes, we’ve done is not too dense but it’s chewy enough The first figure sounds healthy enough, the vital areas of corn, wheat and rice. well,” said Grisanti, “but the cost of do- to lend substance, while robust acidity but the second is rather discouraging, So let’s turn to two representative ing business is a steady growth too. You keeps the whole package vivid and lively. since one-third of restaurant operators restaurant operators at the forefront of reach the point where you can’t push Very tasty and satisfying. reported a decline in customers during the battle – Mac Edwards and Larkin the increases onto the customer or you And take a gander at the price! that period. That seems significant. And Grisanti. price yourself out of the market. We had For more about wine, check out I assume the other 27 percent saw no While Edwards tends to strike a to learn to adapt, but we never consid- Koeppel’s blog at www.biggerthan change. perpetual optimistic note, he sounded ered going backward on the product we yourhead.net. The RPI’s Expectation Index, based genuinely happy on the telephone last serve.” on the indicators of same-store sales, week. His latest restaurant venture, The Am I living among Pollyannas? Kelly employees, capital expenditures and Elegant Farmer, on Highland south of English, owner and chef of Restaurant FOR YOUR VERY business conditions, measured 100.9 in Poplar, has been open not quite a year. Iris in Overton Square, said, “I’m ab- OWN BOTTLE November, “up 0.4 percent from Octo- Longtime diners will remember that he solutely optimistic about 2012, and I’ll ber and the third consecutive monthly owned McEwen’s on Monroe from 1997 be optimistic about 2013 and 2014. I’m KIMBROUGH WINE & SPIRITS gain. November also marked the third to 2008. big into positivity. Look, the only thing 1483 Union Ave., $13 consecutive month that the Expecta- “We had a great September,” he said, we can do is get in here every day and KIRBY WINES & LIQUORS tions Index stood above 100, which “then a pretty soft fall, and then a great love what we do and make great food in 2865 Kirby Parkway, $13 represents a positive outlook among last week of the year. We saw lots of a reasonable manner. Yes, restaurants POPLAR WINE & SPIRITS restaurant operators for business condi- three-generation tables, so it looks like have gotten expensive, but there are lots 2136 W. Poplar Ave., Collierville, $13 tions in the months ahead.” people can afford to take the whole fam- of costs I eat every day because I value Surely, then, we have reason to think ily out to dinner.” the loyalty of my customers.” 32 January 14-20, 2012 www.thememphisnews.com Week of 1/9/12 - 1/15/12

The Weekly happenings

HAPPENINGS, CONTINUED FROM PAGE 30 Crossword Edited by Margie E. Burke by Margie E. Burke The Weekly Crossword Shanda Wicker at swicker@memphishabitat. Road. The art exhibit will present a college ACROSS 1 2 3 4 5 6 7 8 9 10 11 com or 322-3504. of original, unsigned works from Mid-South artists. The gala will include an auction, food, 1 Facial treatment 12 13 14 5 Karate move drinks and an opportunity to meet the art- 9 Part of FYI 15 16 17 ists. Tickets are $25 for members and $35 »The Arts for nonmembers. For more information or 12 Wesley Snipes 18 19 20 The Memphis Symphony Orchestra will tickets, call 636-4131 or visit www.memphis- superhero role present “The Russians: Rachmaninoff to botanicgarden.com. 13 Took the 21 22 23 Tchaikovsky” Saturday, Jan. 14, at 8 p.m. at Cannon Center for the Performing Arts, The Buckman Arts Center at St. Mary’s subway 24 25 26 27 28 14 Seedy joint 255 N. Main St. A performance will be held School will host a performance by Loudon 15 Sweater size 29 30 31 Sunday, Jan. 15, at 2:30 p.m. at the German- Wainwright III Friday, Jan. 20, at 8 p.m. at town Performing Arts Centre, 1801 Exeter Buckman, 60 Perkins Extended. Cost is $35 16 Easily moved 32 33 34 Road. For tickets, call 537-2525 or visit www. with discounts available for students and 18 Complexion memphissymphony.org. seniors. For more information, call 537-1483 concern 35 36 37 38 39 40 41 42 or visit www.buckmanartscenter.com. 19 Ballpark The Dixon Gallery and Gardens will host an 43 44 45 beverage opening reception of the exhibit “This Must The Germantown Community Theatre 20 Coon's cousin 46 47 48 49 Be the Place: Contemporary Photography will present the play “The Boys Next Door” 21 Scrabble in Memphis” Thursday, Jan. 19, from 6 p.m. Friday, Jan. 20, through Feb. 5 at the theater, 50 51 52 53 to 9 p.m. at the Dixon, 4339 Park Ave. The 3037 Forest Hill Irene Road. For more infor- 10-pointer exhibit will run Jan. 22 through March 4. For mation, call 754-2680 or visit www.german- 22 Arctic bird 54 55 56 more information, call 761-5250 or visit www. towncommunitytheatre.org. 23 Abdominal dixon.org. 57 58 59 protrusion Playhouse on the Square will present “next 24 Worry 60 61 62 The Memphis Botanic Garden will pres- to normal” Friday, Jan. 20, through Feb. 12 at compulsively ent an art gala and silent auction for the Playhouse, 66 S. Cooper St. For more infor- “Incognito Art Exhibit” Friday, Jan. 20, from mation or tickets, call 726-4656 or visit www. 26 Police action Copyright 2012 by The Puzzle Syndicate 6 p.m. to 8 p.m. at the Garden, 750 Cherry playhouseonthesquare.org. 28 Jailbird 29 Gunslinger's 61 Like venison's 30 Make yawn 44 Mindful of mark flavor 31 Pita sandwich 45 Bakery buy 30 Butcher shop 62 Eliot or Frost 33 Auditioner's goal 47 Catch sight of purchase 34 Escape slowly 48 With intensity CORRECTION 31 Well-bred chap DOWN 35 Like some winds 51 Gumbo veggie Due to a production error, the crossword puzzles that should have run in the January 32 Pretense 1 Sugar pill, say 36 Jump Jet 52 Balancing bar 7-13 edition of The Memphis News were not published. They are in this week’s issue. 35 Beat it! 2 Sincere 37 Ward worker 53 2007 film, "____ 38 A bit pretentious 3 Outer border 40 New York area the Wild" 39 Act like Etna 4 Ang or Spike 41 Skirt opening 55 Gear tooth 43 Corn serving 5 Rural swimming 42 Restraining rope 56 Drench 44 Sandwich spot cookie 6 Catcher's base 45 Celeb magazine 7 Foul smell Answer to Last Week's Crossword 46 Full of fervor 8 Teacher's fave CRIB STOAT REAP 48 Cheer starter 9 Bankroll LAMA PENCE ACRE 49 Calendar abbr. 10 It may be AJAR ACTOR SHIN 50 Take away by standing MAMBO HOUSECOAT force 11 Dependent EVEN SERA 51 Woodwind 12 Proclaim SPACEDOUT GLOVE instrument 14 Peephole's place TRIUNE LIMO NIB 53 Yearning 17 Type of tea ROSE MECCA SAGO 54 Cause of plane 19 School transport AWL SATE NATION turbulence 22 Pale as a ghost PLEAT CRANBERRY 56 Sidewinder, e.g. 23 Stereo system PURE TALE 57 Trust, with "on" 25 Cave sound COUPDETAT ERECT 58 Type of surgeon 26 Right-hand page ELSE HEMEN AGAR 59 Badger's cousin 27 Hawk's home LIEN ARENA GIRO 60 Use a towel (var.) LORD BANDY ESPY

Sudoku Edited by Margie E. Burke  Edited by Margie E. Burke Difficulty : Medium HOW TO PLAY Each row must contain the   numbers 1 to 9; each column must contain the numbers 1    to 9; and each set of 3 by 3 boxes must contain the numbers 1 to 9.       Answer to Last Week's Sudoku                                     Copyright 2012 by The Puzzle Syndicate  www.thememphisnews.com January 14-20, 2012 33 34 January 14-20, 2012 www.thememphisnews.com

opinion

Raymond James Visible is Music to City’s Ears Last week we highlighted Visible Music College ties in the three Statement on Deal Ronald McDonald House Charities of major categories of music production, Memphis, which is providing a “home music business, and modern music, away from home” for families that are which encompasses worship leadership, Editor’s Note: Below is a portion of quartered on Wall Street. in Memphis while their child is receiving songwriting, vocal, guitar, bass, keyboard the official statement Raymond James “Given the associated assets and treatment for cancer or another cata- and percussion. issued on the Morgan Keegan acquisi- scale, this acquisition creates sig- strophic illness at St. Jude Children’s The school offers a three-year action. For the complete corporate state- nificant future earnings power,” added Research Hospital. credited bachelor’s degree ment, plus additional coverage of the Reilly. This week let us spotlight program for 120 students historic sale, visit www.memphisdaily- Key acquisition highlights include: an educational institution per year. Approximately 450 news.com. l Morgan Keegan, with an antici- that is working to train and students have been served pated $700 million tangible book value equip artists, technicians thus far, but an even greater T. PETERSBURG, Fla. – at closing, has demonstrated stability and business profession- metric is that 88 percent of Raymond James Financial, and profitability across economic and als in skill and character for the students are from outside Inc. announced today that it market cycles. effective service in the music Memphis and 55 percent re- has entered into a definitive l The addition of Morgan Keegan’s industry and the church: Vis- Jeremy Park main in Memphis after gradua- stock purchase agreement more than 1,000 private client financial ible Music College. giving back tion. So, in its own way, Visible to acquire Morgan Keegan & Company, advisors increases Raymond James’ S Having worked in the Music College is becoming a Inc. and related affiliates from Regions advisor count to more than 6,000, music business out in Los Angeles, I can wonderful asset for Memphis to recruit Financial for $930 million, expanding bringing meaningful additional scale to speak from experience that there is a and retain some of the best and brightest both its private client wealth manage- Raymond James’ already robust plat- large gap between having a dream, hav- musical talent from around the world. ment and capital markets businesses. form and representing one of the larg- ing the skill set and having the business In keeping with the theme of this “While our preference is generally est retail franchises in North America. acumen to succeed. column, I appreciate that Visible encour- organic growth, we have used strategic Together, the firm expects its financial mergers to grow throughout our history planning, high-net-worth and retail One of the toughest learning curves ages students to become engaged in when the timing and pricing are right front-end support systems to drive for most musicians (or really any creative Memphis. You will find them around town and, most importantly, when there is greater financial advisor productivity. professional) is embracing the fact that performing in churches and various ven- a strong cultural fit and clear path for l The combined fixed income the music business is indeed a “busi- ues, as well as pitching in with more than integration,” said Raymond James CEO units bring together complementary ness.” When it comes to formal training, 4,000 hours of community service. Paul C. Reilly. products, services and client relation- the gap seems to widen because most There are many ways we can help “This merger reflects those te- ships to forge an even more formidable schools tend to focus on theory and their efforts, as well. Take a tour of their nets. Morgan Keegan private client Fixed Income Capital Markets depart- skills with little recognition of enterprise beautiful new facility at 200 Madison and capital markets professionals are ment. Bulwarked by Morgan Keegan’s and entrepreneurialism. With such a rich Ave. or catch one of their concerts. Hire well-respected in the industry for their outstanding Public Finance group, the legacy in the music industry, it is only students for local performances and cor- capabilities and client-service orienta- merged firm’s advisory and underwrit- fitting that a college breaking the mold porate events. Purchase their Christmas tion. Bringing them to Raymond James ing fixed income practice offers an im- would be based here in Memphis. CD, which is definitely a great gift idea for and working with their excellent man- pressive origination capability to serve Visible Music College was founded in the future. Learn more by visiting www. agement teams represents a major step municipal and taxable issuers, and rise 2000 by Ken Steorts, who is a classical visible.edu or contacting Ken Steorts at toward achieving our vision of being to a combined league table ranking of guitarist and one of the original mem- [email protected] for more information the premier alternative to Wall Street.” eighth. bers of the Christian rock band Skillet. and suggestions. The combined businesses of l The addition of Morgan Keegan While receiving his college education and Jeremy Park, director of communica- Raymond James and Morgan Keegan traveling on the road with his band, he equity capital markets professionals tions at Lipscomb & Pitts Insurance and will create one of the country’s largest will further strengthen Raymond James’ noticed the gap and decided to act. What director of the Lipscomb & Pitts Breakfast full-service wealth management and award-winning equity research and he has built over the last 12 years is truly Club, can be reached at jeremyp@lpinsur- investment banking firms not head- investment banking platform. impressive. ance.com.

Take Comfort in the Good Before Saying ‘Goodbye’

FOUND, NOT LOST. so low over the Everglades you felt you We can take comfort in what “There’s a hole up here,” she said, could reach out and touch the waving remains. In the things you think of – in and then held up a mirror so I could see sea of grass. We laughed a lot. family and friends still here, in the twin- a perfectly round, barren wasteland Last week, I delivered a eulogy for kle in a baby’s eye and a new ripple in about two inches wide in what used Bob Alley. Fraternity brother, college the gene pool – but also in long-familiar to be an uninterrupted forest of dark roommate, best friend. things you might not think about much. MEMPHASIS brown hair. But, then, it used be all dark dan conaway Maybe you believe that connections Things like the constant flow of rivers brown too. “What should I do about it?” like that are never broken, and become and tides, the glory in storms, Pete & I asked. “Stay away from people taller sion was deeper, the hole up there more permanent residents in a greater Sam’s Italian spinach, good jokes and than you,” she said. prophetic, the memories evoked tinged eternal consciousness. Or maybe, upon good stories told well, and the same Cute, Jean, very cute. with something more palpable. reading that last sentence, you’d say barber for 36 years. Jean is the woman who cuts my The memory of a 17-year-old kid what Bob would, “Oh, please.” And be thankful for the whole ride. hair, and the first time she did that, she from Florida who had never seen snow, But I believe this: we don’t lose peo- I didn’t lose Bob Alley. I found him was a teenager and we talked about a and when he did see it way up on a ple like that, we gain from having known 45 years ago. Thank God. brand-new movie. Rocky. The first one. mountain on our ATO pledge retreat, he them, we grow from the experiences I’m a Memphian, and I just got a As in, “Yo, Adrian.” As in 1976. stole the faculty adviser’s car, drove as shared, we own the memories and we haircut and said goodbye to a part of Last week, she did it again and, like far up there as he could and walked the know we were and can be special mark- me. the hundreds of times before, we did rest of the way to play in it. ers in the lives of others, parts of other what we do. We talked about our lives, The memory of him taking me for families, parts, in fact, of other people. Dan Conaway, a lifelong Memphian, our city, our aches and pains. Things a cup of coffee at Dunkin’ Donuts in When they go, unfairly young or longtime adman and aspiring local char- funny and not. Things curious and not. Fort Lauderdale. In his plane. Flying low fairly relieved of pain, a part of us goes acter in a city known for them, can be Life. But this time the therapy ses- over Miami Beach just after dawn, and as well. reached at [email protected]. www.thememphisnews.com January 14-20, 2012 35

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2400 Poplar Bldg CK Coffee Shop Locations Grubb & Ellis 2380 Mt. Pleasant Rd 50 Humphreys Center 2400 Poplar Ave 1698 Poplar Ave 5400 Poplar Ave Lenny's Sub Shop 25 S Belvedere Blvd 88 Union Bldg 3139 Poplar Ave Half Shell 3593 Riverdale 4724 Poplar Ave 88 Union Ave 509 Highland 688 S Mendenhall Main Library Shelby County Court House Arcade 567 Perkins Extended Happy Mexican Restaurant 3030 Poplar Ave 140 Adams 540 S Main Clark Centre 385 S 2nd St Majestic Grill Shell Atrium I 5100 Wheelis Drive Highpoint Grocery 145 S Main 7617 Poplar Ave 6800 Poplar Ave Community Bank 469 Highpoint Terrace McEwen's Shrine Bldg Atrium II 6465 Quail Hollow Huey's 122 Monroe 66 Monroe 6999 Poplar Ave Cordova Country Club 7825 Winchester Memphis Brew Smoothie King Bank of America 7400 Cordova Club Dr 1771 N Germantown Pkwy 3573 Southen Ave 3452 Poplar Ave 6060 Poplar Ave Davis-Kidd 77 S. Second Brinkley Plaza Soul Fish Bank of Bartlett 387 Perkins Extended Jason's Deli 80 Monroe 863 S Cooper 6281 Stage Road Denny's 1199 Ridgeway Road Memphis City Hall Southern Folklore Café BankTennessee 164 Union 585 Chickering Lane 125 N Main 123 S Main 30 N. Second St Eastgate Office Bldg Java Co Memphis Regional Chamber Starbucks Bari Ristorante 5118 Park Ave 3133 Forest Hill Irene 22 N Front, Ste 200 1850 Union 22 S Cooper St Emerge Memphis Kroger Miss Cordelia's Suntrust Bank Bldg Barksdale Restaurant 516 Tennessee St 1366 Poplar Ave 737 Harbor Bend 5350 Poplar Ave 237 Cooper Exxon 300 I-40 Service Rd Office Max 93 Monroe Bartlett Library 252 E Highway 72 2269 Lamar 1460 Union T. J. Mulligan's Locations 5884 Stage 1375 Germantown Pkwy 4270 Summer Ave 7720 Poplar Ave 362 N Main St Blueﬁn Restaurant 3487 Poplar 540 S Mendenhall Rd On The Border Restaurant 8071 Trinity Road 135 S Main St 4491 Poplar 3444 Plaza Rd 4552 Poplar TGI Friday’s Bluff City Coffee 2905 Kirby 3226 Thomas Otherlands 186 Union 505 S Main 7010 Winchester 2632 Frayser Blvd 641 Cooper The Corkscrew Bogie's Deli 5949 Stage Rd 3545 Austin Peay Pearl's 511 S Front St 2098 LaSalle Place 1369 Sycamore View 8039 Highway 51 N 303 S Main St The Cupboard Bon Ton Café 7616 Poplar 5995 Stage Rd Perkins Restaurants 1400 Union 150 Monroe Ave Falls Bldg 4315 Highway 70 3455 Poplar Ave The Edge Coffee House Bookstar 22 N. Front St 7615 Highway 70 5112 Park 394 N. Watkins 3402 Poplar Ave Fino's 2130 Exeter Rd 1340 S Germantown Pkwy The Little Tea Shop Brother Juniper's 1853 Madison 676 Germantown Rd Pete & Sam's Restaurant 169 Monroe Ave 3519 Walker Avenue First Tennessee Bank 1675 Germantown Rd 3886 Park Avenue Tops BBQ Burke's Book Store 4990 Poplar 9050 Highway 64 Piggly Wiggly 1288 Union Ave 936 S Cooper Flying Saucer 6660 Poplar Ave 729 White Station Trinity Commons Butcher Shop 130 Peabody Place 1230 N Houston Levee 1620 Madison Ave Trinity @ Germantown Pkwy 101 S Front St Fogelman Executive Center 3830 Hickory Hill Pyramid Liquors UT Medical Center Area Café Eclectic 3700 Central Ave 7942 Winchester Rd 120 Auction Ave Ste 101 839 Jefferson Ave 603 N McLean Fox & Hound 2835 Kirby Pkwy Republic Coffee West Street Diner 111 Harbor Town Sq 847 Exocet Dr 3685 Houston Levee 2924 Walnut Grove Rd 2076 West St Café Ole Front Street Deli 240 W Poplar Riverside BP White Station Towers 959 S Cooper 77 S Front St 4770 Riverdale 694 Riverside 5050 Poplar Ave Cartridge World Great Wines 465 Stateline Rd Sekisui YMCA 1603 Union Ave 6150 Poplar Ave 7251 Interstate Blvd 2990 Kirby Whitten Rd 245 Madison Avenue Cheese Cake Corner Guardsmark 7427 Goodman Rd 2130 W Poplar Ave 3548 Walker Avenue 113 G.E. Patterson 22 S. 2nd St 3095 Goodman Rd 1884 N Germantown Pkwy Pick up The Memphis News for FREE. Scan the QR code for a complete list of locations. Download stiQRd - A free QR reader in the Apple App Store 36 January 14-20, 2012 www.thememphisnews.com

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@ 3:30 PM, BROOKS MUSEUM AUDITORIUM

KEYNOTE SPEAKER GLEN D. GILMORE Gilmore Business Network, Principal

PANELISTS

JIM MULROY Jackson Lewis, Managing Partner ERIC EPPERSON Pinnacle, VP of Corporate Culture & Communications AMY HOWELL Howell Marketing Strategies, Owner

Join us for an engaging seminar focused on Social Media policies and issues. We will also explore issues relating to highly regulated industries such as healthcare and the financial services.

Cocktail reception to follow. $25 to register at www.memphisdailynews.com/seminar

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