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Stephenson One of Many Leading Way for Women in Memphis Business Pages 16-22 February 22-28, Vol. 6, Issue 9 32 Real Estate & Development The Madison Avenue Alliance »has its sights set on bringing the street back to its destination heyday, and a new establishment called The Mad Earl should help. ANOTHER BREWERY ON TAP: BUDGET DELIBERATIONS: Wiseacre Brewing Co. is slated to open When Shelby County Commissioners get together Saturday, Feb. later this year on Broad, bolstering the 23, for a budget retreat, they will begin to grapple with the size of an SHELBY • FAYette • TiptON • MadisON city’s craft beer scene. » Page 11 expected county property tax hike. » Page 15 SPECIAL EDITION WOMEN & BusINess STEPHENSON ONE OF MANY LEADING WAY FOR WOMEN IN MEMPHIS BUSINEss PAges 16-22 Photo: Lance Murphey Susan Stephenson, president of Independent Bank, became the first female CEO of a Tennessee bank in 1995, when she was tapped to head Boatmen’s Bank. 24 Sports The No. 19/21-ranked Tigers finished off an 81-74 victory Feb. 20, won their 17th in a row, stayed unbeaten in C-USA (12-0) and put themselves in position to clinch the league title. DAILY DIGEST: PAGE 2 REAL esTATE: PAGE 6 LAW TALK: PAGE 28 NEWSMAKERS: PAGE 30 EDITORIAL: PAGE 38 A Publication of The Daily News Publishing Co. | www.thememphisnews.com 2 February 22-28, 2013 www.thememphisnews.com weekly digest Get news daily from The Daily News, www.memphisdailynews.com. THE MEMPHIS NEWS | almanac Boyle Sells Lots gated Grand Manor, which provides resi- At Spring Creek Ranch dents with estate-sized lots available for FEBRUARY 22-28 custom homebuilding with views of the golf course and Chinquapin Lake. Home This week in Memphis history: Boyle Investment Co. sold 10 lots at Spring Creek Ranch to a newly formed prices in The Grand Manor range from the builder group and construction soon will high $600,000s to more than $1 million. >>>>> 2008: Former Shelby County Commissioner Bruce Thompson commence on the next phase of develop- pleaded guilty to one count of fraud in Memphis Federal Court for tak- ment at The Village at Spring Creek Ranch, ing $7,000 in 2004 from two construction firms seeking to build three an upscale, master-planned community schools. Thompson told them he could control votes on the Memphis off Raleigh-LaGrange Road. Raymond James Analyst City Schools board because of his position as a commissioner. The new builder group for the Vil- Rates AutoZone a Strong Buy lage at Spring Creek Ranch includes: >>>>> 1993: The Clinton administration Justice Department, six weeks in Marty Smith, Artisan Custom Homes; A Raymond James Equity Research office, reversed its position on jury selection for the second bank fraud Mark McGuire and John Worley, Celtic analyst wrote in a note to clients this trial of U.S. Rep. Harold Ford Sr. after a jury from the Jackson, Tenn., Manor Homes; Chris Dickens, Dickens & week he’s maintaining a strong buy rat- area had already been selected and testimony in the trial was about Associates; Ryan Anderson, RKA Invest- ing on shares of AutoZone Inc. ahead of to begin. As Federal Judge Jerome Turner rejected the Justice Depart- ments; and Ron Sklar and Scott Klazmer, the Memphis-based auto parts retailer ment motion and left the jury intact, the start of the trial was delayed Klazmer/Sklar Homes. reporting quarterly earnings next week. as Ford said he was experiencing chest pains and was rushed to a Boyle anticipates five to six starts in “AutoZone possesses the headroom nearby hospital. March, and the homes should be ready for to achieve the fastest commercial sales occupancy by mid-summer. The lots are growth in the sector,” wrote Raymond >>>>> 1973: Among the corporate charters listed in The Daily News and located within the reserve area of Collier- James analyst Dan Wewer. filed with the Shelby County Register’s office: “Rent-A-Girl Inc.” with ville on the 168 acres purchased by Boyle “Further, AZO is poised to benefit an office in the Dermon Building, described as “an escort and dating in November from the Meyer family, which from a sector wide sales recovery that agency.” Meanwhile, Gertrude A. Decker was retiring as Probate Court owns Spring Creek Ranch Golf Course. could materialize as soon as the second Clerk. The new homes will be priced from half of 2013. $385,000 to $425,000 and the builders are “In our view, Zone’s quarterly re- >>>>> 1963: On the front page of The Daily News, the 35th annual Fire pre-selling now, with two homes already sults will be driven by a continuation of Department Instructors Conference had a demonstration planned for sold. the gross margin expansion cycle, but Presidents Island that involved a “simulated nuclear cloud” to show the Gary Thompson, vice president of partially offset by tepid sales growth and “burning effects of materials used in atomic weapons. The demonstra- Boyle, said the 10 lots in The Village at subsequent deleveraging in expense rate. tion involved a reddish black cloud that was to rise 300 feet in the air. Spring Creek Ranch represent the first As a reminder, we anticipate headwinds group of new lots to come online in quite for the auto parts retailers to persist until some time. Boyle hopes to develop a total 2Q13 when comparisons ease and the im- of 340 lots in phases over the next decade. pact from unseasonal weather seen a year In addition, Boyle has 10 lots in the ago is diminished.” 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 February 22-28, 2013 3 Get news daily from The Daily News, www.memphisdailynews.com. weekly digest EDGE Board Approves and technologies. Parking Lot Guns Bill Schools Superintendent Hire Several Tax Freezes This Week Smucker announced in 2010 it would Charges Toward House Vote Now Set for Late May close its Memphis plant and lay off 161 Memphis Mayor A C Wharton Jr. shows employees by 2013. The intention was to A bill to allow handgun carry permit The countywide school board has a up to meetings of the local economic de- consolidate its operation to improve its holders to store loaded firearms in their new timeline for hiring a merger super- velopment body that grants tax incentives supply chain as part of its ongoing efforts vehicles no matter where they are parked intendent that puts the hiring in late May to businesses pretty predictably. to enhance the company’s long-term has cleared its final legislative committee instead of mid-February, the original goal That’s not to say on a regular basis, strength and profitability. The company’s before a full House vote. of the school board. rather his appearances are predictable Memphis operation dates back to 1969. The House Civil Justice Committee School board members reviewed and because they tend to coincide with votes advanced the measure on a voice vote on approved a proposed work plan with on tax deals for businesses moving into or Wednesday after supporters stressed that consultants from ProAct Search, the Wil- expanding in the core city. the measure would not stop employers mette, Ill., search firm the board hired to And that’s what he did this week. The City Council Approves from banning weapons on their property conduct a national search. mayor showed up at both meetings of the Hickory Hill Intermodal Yard but would simply remove their ability to The work plan includes hiring a super- Economic Development Growth Engine call for criminal charges against violators. intendent the third week of May with the Board this week, at one of them praising The Memphis City Council approved Republican Rep. Jeremy Faison of field being narrowed to five to seven final- Smucker’s decision to stay put in Memphis Tuesday, Feb. 19, a 30-acre intermodal Cosby said his bill would also not apply ists by the fourth week in April. in exchange for a tax incentive, a deal that container yard in Hickory Hill for the to areas like airports, railroads or secure Wharton said shows Memphis’ commit- storage of the containers by The Marino facilities governed by federal law. ment to essentially the heart of Memphis Group/Container Maintenance Corp., The Senate approved its version 28-5 and its infrastructure. which is working with Chism-Hardy En- earlier this month as GOP leaders have Komen Race for the Cure On Wednesday, the EDGE board ap- terprises LLC on the new facility that will sought to avoid a repeat of last year’s Moving to Carriage Crossing proved a four-year tax freeze for Container employ 94 people. drawn-out fight between gun advocates Maintenance Corp., which is boosting em- The $4 million planned development and the business community. Starting this October, the Memphis- ployment in Memphis (where it provides drew opposition from several homeowners Mid-South Susan G.
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