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Financial Services November 15-21, 2013, Vol. 6, Issue 47 Emphasis: Financial Services Financial services institutions continue to adapt their product offerings to provide additional convenience for customers • P. 1 6 SHELBY • FAYEttE • TiptON • MadisON LEAD LOCAL Memphis institutions staying close to home for top executive searches A growing Lead Local movement is emerging in Memphis that sees companies hiring locally P. 1 4 BuILDERS MOBILE UNIT SHOWCASE BRINGS AID Early turnout strong Humane Society for annual Vesta raising funds to make Home Show in spay and neutering Germantown • P. 2 3 services mobile • P. 7 DIGEST: PAGE 2 | INKED/RECAP: PAGE 8 | NEWSMAKERS: PAGE 21 | LAW TALK: PAGE 24 | EDITORIAL: PAGE 30 A Publication of The Daily News Publishing Co. | www.thememphisnews.com 2 November 15-21, 2013 www.thememphisnews.com weekly digest Get news daily from The Daily News, www.memphisdailynews.com. Electrolux Ships First Transplants Foundation THE MEMPHIS NEWS | almanac Memphis-Made Products Names New CEO Electrolux North America’s first The National Foundation for Trans- NOVEMBER 15-NOVEMBER 21, 2013 Memphis-made products have rolled plants has a new leader. This week in Memphis history: off the assembly line and been shipped The foundation has appointed Connie across the country. Gonitzke to serve as president and CEO of >> 2012: On the front page of The Daily News, civic leaders in Millington The inaugural products produced the Memphis-based national nonprofit. formally opened the long-awaited extension of Veterans Parkway north of at the Memphis facility – the Frigidaire Gonitzke rose through the founda- and Frigidaire Gallery slide-in ranges – tion’s ranks, joining the organization in Navy Road. were recently manufactured, packaged 2002 as a patient advocate before being and loaded onto trucks for warehous- appointed director of resource develop- >> 1983: The Benchmark Hotel, Downtown’s largest black-owned ho- ing and retail distribution throughout ment in 2006 and senior vice president of tel, opened on the northwest corner of Union Avenue and Third Street, the United States. It’s the culmination development in 2008. across from The Peabody hotel. What had been a fire-damaged motel was of a two-year construction effort on the As president and CEO, Gonitzke will renovated over three years at a cost of $4.5 million with 110 rooms. At its 750,000-square-foot, $266 million dollar focus on raising the foundation’s national opening the hotel was at full occupancy with a delegation from Iowa in the facility. The first truckload of ovens was profile and position and increasing phil- city for the annual Church of God In Christ convocation. shipped to Seattle, Wa. anthropic efforts. In addition to the two ranges, the Gonitzke has been a member of the >> 1965: The Rolling Stones played the Mid-South Coliseum in the first plant will ultimately produce a variety Association of Fundraising Professionals in a series of Memphis concert appearances over the decades that have of signature items, including Electrolux, since 2005, earning the Certified Fund included two shows at nearby Liberty Bowl Memorial Stadium and a 1978 Electrolux ICON and Frigidaire built-in Raising Executive credential. She also has return to the Coliseum. The 1965 date at the Coliseum was part of the Brit- and specialty cooking products, wall ov- volunteered and served on various boards ish band’s second U.S. tour with Memphis between dates in Nashville and ens and specialty freestanding ranges. and in leadership positions in numerous Shreveport, La. The plant, inside Frank C. Pidgeon community and religious organizations, Source: “The Rolling Stones: An Illustrated Record” by Roy Carr Industrial Park, features an in-house lab including the West Tennessee Transplant that allows the company to simulate a Association and as president of the local >> 1923: Demolition work was completed on the old Peabody Hotel at product’s lifetime usage and performance AFP chapter. Main Street and Monroe Avenue with construction to begin a day later on expectations. Founded in 1983, the National the new Lowenstein Bros. Department Store, which had been at Main and Electrolux said it has hired about 500 Foundation for Transplants has gener- Jefferson. The original Peabody opened in 1869 with 75 rooms. Among its employees in manufacturing, engineer- ated nearly $65 million to help transplant guests were Presidents Andrew Johnson and William McKinley as well as ing, supply-chain management, finance patients overcome financial obstacles. Russian Grand Duke Alexis, the son of Czar Alexander II. and operations management at the Mem- Source: www.peabodymemphis.com/history phis plant. It will eventually employ 1,200 Two Memphians Among people over the course of the next five years as it reaches full production. Appeals Court Finalists Shelby County Chancellor Kenny W. TRUST EXPERIENCE Beth Bell, Senior VP Paulette Bukauskas, VP George Pappas, President Kristen Sears, VP Brent Westbrook, AIF® , VP Trust Officer Auditor Trust Officer Trust Operations Manager Business Development Since 1998 Since 2001 Since 1996 Since 2003 Since 2001 You need investment guidance you can trust because your legacy and personal finances demand it. Argent has roots tracing back to 1930 and has been serving the Memphis area since 2009. Come see one of our professionals who, with decades of experience, can help you or your organization plan for your current and long term financial needs. Give us a call today at 901.767.3103 to find out how Argent Trust can help you design the right investment management plan for you, your family, your company, or your institution. 6075 Poplar Avenue, Suite 702 • Memphis, TN 38119 • 901.767.3103 www.thememphisnews.com November 15-21, 2013 3 Get news daily from The Daily News, www.memphisdailynews.com. weekly digest Armstrong and Memphis attorney Doro- dispositions. Stratton has been with Col- phis market is officially sold out. Dunkin’ across North Parkway, through the Cross- thy Pounders were among three finalists liers International Memphis since 2001. Donuts entered the market in 2008 at town site. for an upcoming vacancy on the Ten- 1674 Whitten Rd. and currently has seven The grant is supplemental funding nessee Court of Appeals recommended Dunkin’ Donuts to Add stores in the Memphis area. for the development team’s $175 million Thursday, Nov. 14, to Tennessee Gov. Bill 12 Memphis Locations proposal to turn the long-vacant building Haslam. Crosstown Team Wins into a thriving hub for arts, education and The recommendations are the first More Memphis area Dunkin’ Donuts health care. the Governor’s Commission on Judicial are on the way. Grant for Greenline Link The project includes St. Jude Chil- Appointments has made since Haslam Franchise group JP Foods LLC will The Sears Crosstown redevelopment dren’s Research Hospital, ALSAC (the fun- created the body in October. develop 12 new restaurants throughout team garnered a $50,000 grant from draising arm of St. Jude), Crosstown Arts, The third finalist on the list is attorney Memphis, with the first new restaurant Shelby County to help link the property Gestalt Community Schools, Memphis Brandon O. Gibson of Jackson, Tenn. expected to open in 2015 and the remain- with a nearby greenline. Teacher Residency, Methodist Le Bonheur Haslam will pick one of the three to der by 2020. The grant, which was given to the Healthcare, Church Health Center and fill the vacancy on the court when Judge JP Foods, led by Peter Garner and county from the U.S. Department of Rhodes College as founding partners that David Farmer retires at the end of August. Jonathan Vacca, will manage and oversee Housing and Urban Development, will be have pledged to be tenants in the redevel- Farmer is one of several state appellate daily operations for each restaurant. used on design work to extend the nearby oped building. court judges who have announced they The new agreement means the Mem- Vollintine & Evergreen Greenline, located The $50,000 is not part of $15 million will not seek re-election in retention races in August but plan to serve until the end of their terms later that month. Haslam is awaiting the commission’s recommendations to fill the upcoming Tennessee Supreme Court vacancy cre- ated by the planned retirement of Justice Janice Holder of Memphis. Trolley Station Sells For $2.7 Million Trolley Station, a Class C shopping center at the northwest corner of South Perkins Road and American Way, has sold for $2.7 million to a Georgia-based company. Vishal Trolley Station LLC purchased the property from Kimco Trolley Station LP in an Oct. 29 special warranty deed, financing the deal with a $1.9 million deed of trust through Citizens Savings Bank & Trust Co. Shiv K. Aggarwal signed the trust deed as sole manager of Vishal Trolley Station. The purchase includes three par- cels, according to the warranty deed: a 107,267-square-foot neighborhood shopping center at 2685 S. Perkins, a 45,812-square-foot single-occupancy building at 2665 S. Perkins, and a 15,312-square-foot single-occupancy building at 2671 S. Perkins. Constructed between 1991 and 1993, the buildings are situated on 14.6 acres, and the Shelby County Assessor of Prop- erty’s combined 2013 appraisal is about $4.4 million. Kimco Trolley Station bought the property in 1998 for $16.2 million. Stratton to Serve On National Real Estate Board Henry Stratton, vice president of bro- kerage services for Colliers International Memphis, has been elected to a three- year term on the national board of direc- tors of the CCIM Institute, a commercial real estate organization with over 15,000 designees worldwide. The institute confers the Certi- fied Commercial Investment Member designation, which denotes a recognized expert in commercial and investment real estate.
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