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. Komen Race for the intermodal-related services) by 96 workers in an area that includes some residential Cure will be held at the Carriage Crossing and investing almost $4 million to expand. subdivisions as well as warehouse and lifestyle center in Collierville. Wharton praised the company for making distribution centers, other intermodal La Paloma Treatment Held for the past 20 years at The Shops that push, in addition to praising (along facilities including a Burlington Northern Center Opens New Building of Saddle Creek in Germantown, the orga- with Shelby County Mayor Mark Luttrell, Santa Fe rail yard. nization this year opted for a larger venue also present) another project up for a tax Marino considered sites in Olive La Paloma Treatment Center, a Mem- with room to grow the local event. freeze: International Paper Co. Branch and West Memphis as it contacted phis treatment resource for substance “We have simply outgrown the space,” Memphis-based IP got a 15-year tax Carolyn Hardy of Chism Hardy last Octo- abuse or co-occurring mental health Elaine Hare, executive director of Mem- freeze to help the company pursue a nearly ber about the Memphis location. Marino disorders, has opened a new building for phis-Mid-South Susan G. Komen said in $116 million expansion of its Memphis leases space in Memphis for a smaller outpatient services at 1083 West Rex Road a statement. “We needed a new, larger presence, which includes keeping 2,274 operation that employs a dozen people. in East Memphis. venue.” jobs here, creating 101 new jobs, keeping In other action, the council gave city The new location of the outpatient In 2011, the Mid-South Race for the its headquarters here and building a new engineers the green light to designate center replaces the former locations on Cure was one of the largest in the country 235,000-square-foot, 10-story building some on-street parking spaces to be select- Brookhaven Circle. It will allow for an – No. 26 out of 120 races. along with a new 470-car garage and two ed by the Downtown Memphis Commis- expansion of existing outpatient services The local Race for the Cure event is pedestrian bridges. sion for car-sharing vehicles in a three-year and will more than double the current the largest fundraiser for Susan G. Komen, On Monday, the EDGE board granted a pilot project. The DMC has no agreement capacity. and raises approximately $1 million per 12-year tax freeze to the J.M. Smucker Co. with a car-sharing vehicle company yet The space will also include an ex- year to fund breast cancer research and so that the company would stay in Mem- and no specific parking places picked. pansion of existing family and alumni treatment, 75 percent of which stays in phis and pursue a $55 million expansion. Council member Lee Harris ques- services as well as ongoing programming the Mid-South in the form of grants and That would save the company several tioned why the DMC wouldn’t charge a for co-occurring health and substance use financial support for local health care or- million dollars in taxes, and in return the company for the use of the spaces. disorders. ganizations. With the move, the organiza- company would keep 125 jobs in Mem- Council member Joe Brown com- La Paloma was founded in 2007 and tion set a goal of 25,000 participants and phis. plained that there should be more free is part of Nashville-based Foundations $1.5 million raised. Smucker vice president Bob Kenner on-street parking for Memphis City Coun- Recovery Network, which owns and oper- Carriage Crossing, which had ap- told EDGE officials several factors played cil members and other elected officials. ates three inpatient and four outpatient proached the organization before about into the decision to keep a presence in Brown complained of not being able to treatment facilities across the country. La relocating the event to the lifestyle center, Memphis, including the tax incentives find a free parking place recently at the Paloma’s residential campus is located at will enter as a presenting sponsor of the offered. The company’s PILOT applica- Greater Memphis Chamber offices. 2009 Lamar Ave. race. The Town of Collierville has agreed tion explains the project will retrain the City Council members have free park- A grand opening celebration for the to provide police and fire support as company’s current remaining workforce ing at City Hall. City Hall is three blocks new location and ribbon cutting will take needed. to produce products using new machinery from the chamber offices on Front Street. place in March. Founded in 2005, the open-air Car-
Call for an appointment today! 901.685.5008 Read to your baby.
A Patient’s View: It’s amazing how much “Dr. Castle is a fantastic dentist. I never waited to see him longer than a few you’ll both learn. minutes. He gives great personal attention.”
William N. Castle, D.D.S. general dentistry 79 n. cooper (in midtown) • memphis, tn 38104 Go to TUCI.org for a copy of the Parents Guide to Kindergarten Readiness. 4 February 22-28, 2013 www.thememphisnews.com
weekly digest Get news daily from The Daily News, www.memphisdailynews.com.
commercial litigation. Pepke is a Fellow of the Litigation Counsel of America, the American Bar Association, and also of the FROM THE BLOG Memphis Bar Association. She also serves as an adjunct professor of legal methods at the University of Memphis Cecil C. Hum- Design Challenge to Unveil Ideas for South Main phreys School of Law.
Editor’s Note: “From the Blog” is a weekly fea- Street near Memphis College of Art, and the lyric ture that highlights some of the enterprising work panel lot on Main Street near The Arcade. Federal Reserve Bank Of our staff and contributors post on The Daily News The public is invited to observe as teams St. Louis Announces Changes blog, blog.memphisdailynews.com. unveil their ideas for the spaces during the next The Federal Reserve Bank of St. Louis three upcoming Trolley Tour Nights in South has announced some changes to its Mem- SARAH BAKER | The Memphis News Main. Judges will attend each event and will phis board. award $1,000 to the overall winning concept. Lisa McDaniel Hawkins, president of Room to Room in Tupelo, Miss., has been hirty-five teams have signed up to compete in Concepts for the Huling lot and Ambassador appointed to a three-year term on the Tthe South Main Design Challenge, a competi- Hotel site will be unveiled at the next Trolley Night board. Charlie Thomas III, regional director tion to generate ideas and solutions for seven on Feb. 22 at the American Institute of Architects, of external and legislative affairs for AT&T vacant and underused spaces in South Main. 515 S. Main St., from 6 p.m. until 9 p.m. Tennessee in Memphis, has been reap- Competing teams have been assigned a loca- Concepts for Talbot lot and Russell Hardware pointed to a three-year term on the board. Thomas also serves on the board of direc- tion to create short-term and long-term con- will be shown on March 29, and concepts for the tors of the Greater Memphis Chamber, and cepts for the parking lot on Main Street at Huling buffalo mural lot, Army/Navy Parks and the lyric LeMoyne-Owen College. Avenue, the former Ambassador Hotel, vacant panel lot will be unveiled on April 26. The chairman of the St. Louis Fed’s Memphis branch board of directors is space on Main Street at Talbot Avenue, the Russell The South Main Design Challenge is presented Charles Blatteis, managing member of Hardware building, Army and Navy Parks on G.E. and produced by the Downtown Memphis Com- Blatteis Law Firm PLLC in Memphis. Also Patterson Avenue, the buffalo mural lot on Main mission and AIA Memphis. serving on the board are Roy Molitor Ford Jr., vice chairman and CEO of Commercial Bank and Trust Co. in Memphis; Mark Fowler, vice chairman of Liberty Bank of Arkansas in Jonesboro, Ark.; Lawrence riage Crossing center has nearly 75 stores Weaver has worked on numerous AIA Convention and Design Exposition in Long, partner at St. Rest Planting Co. in and restaurants. Formerly known as The award-winning projects such as the Pea- Denver. Indianola, Miss.; and Clyde Warren Nunn, Avenue Collierville, Carriage Crossing re- body Place Historic Block, Main Street Pe- chairman and president of Security Ban- turned to its roots after being acquired by a destrian Mall/Light Rail Trolley, the Allen- corp of Tennessee Inc. in Halls, Tenn. division of Memphis-based Poag Shopping berg Building, Fire Museum of Memphis, Centers LLC in 2012. FedEx Corp. World Headquarters, Gaylord Butler Snow Attorney Named Palms Resort & Convention Center, and to Leadership Position Westin Memphis Beale Street Hotel. Indie Memphis Festival The Fellowship program was devel- Attorney Amy Pepke has been named Announces 2013 Dates Mark Weaver Elevated oped to elevate those architects who have to a leadership position at the law firm of To Fellow of AIA made a significant contribution to archi- Butler, Snow, O’Mara, Stevens & Cannada The Indie Memphis Film Festival has tecture and society and who have achieved PLLC. set its dates for this year’s festival. Mark Weaver, principal with Hnedak a standard of excellence in the profession. She’s now the appellate and written The event will run from Oct. 31 Bobo Group, was recently elevated to a Fel- The 2013 Jury of Fellows from the AIA advocacy practice group leader. through Nov. 3. It will be presented again low of the American Institute of Architects. elevated 122 members this year to its Col- Pepke focuses her practice on appellate by Duncan-Williams Inc. and will award a A past president of AIA Memphis and lege of Fellows. Out of a total AIA member- litigation, complex commercial litigation, total of $6,000 in cash – up from $2,000 in AIA Tennessee, Weaver was recognized for ship of more than 83,000, there are just contract disputes, and class action and 2012. advancing the science and art of planning some 3,100 distinguished with the honor multi-party litigation. Duncan-Williams has been the festi- and building by advancing the standards of fellowship and honorary fellowship. She has been named in Mid-South val’s presenting sponsor since 2011. of architectural education, training and The 2013 Fellows will be honored at an Super Lawyers for civil litigation defense Marking its 16th anniversary, Indie practice. investiture ceremony at the 2013 National and The Best Lawyers in America for Memphis will show films this year at three
Your Choice for Same Day Deliveries! Dedicated, On-Demand, Scheduled
Phone: 901 432-8104 www.dynamex.com www.thememphisnews.com February 22-28, 2013 5
Get news daily from The Daily News, www.memphisdailynews.com. weekly digest
venues in Midtown’s Overton Square area, “Wolf River Greenway” was finished move over to Crosstown. Overton Square room in the Bryan Life Center at Rhodes including Playhouse on the Square, The by ETI Corp. for the City of Memphis. The and out East are just out of our budget. If College, 2000 North Parkway. The seminar Circuit Playhouse, and on three screens project involved 3.5 miles of pedestrian you have any specific ideas as to vacant is free and open to the public. at Malco Theatres’ Studio on the Square. and bicycle trails, four bridges, parking fa- buildings, please let us know.” Parks will address changes related to Related events will be held at the Memphis cilities, and several plazas and points from Chef Kristie Jeffrey and her hus- the America Invents Act, which Congress Brooks Museum of Art. which to view the Wolf River. band, Adam, opened the family-friendly, passed more than a year ago. It will cre- “Successful Low-Concentration TCE 100-percent vegan cafe in April 2011 in the ate a new first-to-file standard for patent Remedy in Groundwater” was completed old Casablanca space in Cooper-Young protection, which changes the current in Millington by EnSafe Inc. for U.S. Navy. at 2156 Young Ave. Imagine was one of and historical first-to-invent standard that Local Projects Up For The Naval Support Activity Mid-South the four restaurant pit stops at the recent grants the patent right to the first person Statewide Engineering Award in Millington faced the challenge of TCE launch for Dishcrawl Memphis along with to conceive of an invention. (industrial cleanser) in the groundwater. Alchemy, Tsunami and Cortona, which is Under the new law, a patent will Six Memphis-area projects are among This project identified TCE hot spots and now under new management. belong to the first person to file a patent those being considered in the 2013 Engi- developed a cost-effective remedy provid- Several Facebook users suggested application for a valid invention. neering Excellence Awards competition, ing a long-term solution and minimizing Imagine look at the old Wizard’s headshop presented by the American Council of interruption to site development. on Madison Avenue to the west of Kwik Engineering Companies of Tennessee. The winners will be announced on the Check; the old Fork it Over catering space “Ridgeway Trace Retail Center” was evening of Tuesday, March 5. at Bruce and Young; and Crosstown. Philanthropic Black Women completed by Kimley-Horn and Associates Imagine also commented in a response Taking Grant Applications Inc. for Weingarten Realty Investors. Sur- to a customer, “It’s all about money. Un- rounding the highly congested area near fortunately, money ‘rules’ the world. He Philanthropic Black Women of Mem- Ridgeway Trace, and traffic was improved Imagine Vegan Café said something about somebody from The phis is accepting applications for grants by coordinating five traffic signals, adding Landlord Ends Lease Peabody wanting to do something with the that will be awarded in April. lanes and widening roadways surrounding space.” The organization, which supports the development. Imagine Vegan Café in Cooper-Young projects geared toward economic self- “Seismic Retrofit of Winchester Struc- said the restaurant is moving and is solicit- sufficiency, is accepting applications for tures” was completed by A2H for Mem- ing ideas for vacant buildings. programs focusing on, but not limited to, phis-Shelby County Airport Authority. Four “Our landlord decided to not renew our Magna Bank Announces career development, education, entrepre- bridges crossing Winchester Road at the lease so we are now intensely looking for a Four Employee Promotions neurship, scholarship and health. Memphis International Airport were retro- new spot,” read a Friday, Feb. 15, Facebook PBWM was founded in January 2005. fitted to ensure reliable operations in the post. “We ask that everyone please bear Magna Bank has promoted four em- The nine-woman group has previously event of a seismic catastrophe. The bridges with us as things might be a little scattered ployees. granted funds to the Booker T. Washing- provide access to four runways utilized by over the next month or so. Our last day Chief lending officer Ted Simpson has ton High School girls basketball team, commercial and private airlines, the Ten- here in this spot is March 31st. We would been promoted from executive vice presi- New Ballet Ensemble, College Bound of nessee Air National Guard and FedEx. like to stay in the Midtown area or maybe dent to senior executive vice president. As Memphis, Memphis Black Arts Alliance, senior executive vice president and chief Memphis Cultural Arts Enrichment Cen- lending officer, Simpson oversees retail ter, Amateur Athletic Union and Watoto De banking, private banking, commercial Afrika. lending, SBA lending, commercial real The deadline for submissions is March estate and construction lending. 31. Guidelines and application forms can In addition to Simpson’s promotion, be downloaded at pbwmemphis.org. Magna also extended promotions in pri- vate banking, human resources and retail banking. First vice president Rebecca Floyd has Mays Schedules Monday been promoted to department manager Schools Case Conference for the private banking group. She has worked in banking for more than 12 years Memphis Federal Court Judge Samuel and has spent more than half of that time “Hardy” Mays has called a Monday, Feb. at Magna Bank helping build the private 25, status conference in the Shelby County banking group. schools merger case. All sides in the Tiffany Riggins has been promoted to 2-year-old lawsuit are scheduled to appear vice president of human resources after before Mays at 9:30 a.m. working at Magna Bank for six years. She The conference comes after all sides served most recently as human resources involved in trying to work out a settlement manager and has 18 years of human re- of the municipal schools district part of sources experience. the lawsuit ended their private discussions Victoria Barnes has been promoted last month. Mays was not involved in the to assistant vice president and branch mediation effort as he had been in the manager of Magna Bank’s Cordova branch. first part of the case, which dealt with the She became assistant branch manager at terms of the merger of Shelby County’s two Magna’s Oak Court location in 2008 and public school systems. has worked in banking for 13 years. Mays tried unsuccessfully to mediate a settlement among all sides just before he ruled in November that one of three state laws governing how municipal school Patent Law Seminar districts are formed violated the Tennessee To be Held at Rhodes Constitution. At issue now are two other state laws on municipal school districts. Bill Parks, an attorney with Wyatt, Tar- Shelby County Commission chair- rant & Combs LLP and the founder and man Mike Ritz indicated last month that chairman of the Memphis Bar Associa- he would instruct the commission’s legal tion’s intellectual property and entertain- counsel in the case to ask Mays to rule on ment law section, will present a seminar the remaining state laws. to the Memphis business community Feb. Bartlett Mayor Keith McDonald said Friday at 7:00pm WKNO 19 explaining the nation’s new patent law suburban leaders weren’t sure exactly how Friday at 7:30pm WKNO2 requirements that go into effect on March they would word their notice to the court 16. that the mediation efforts had failed. They Sunday at 8:30am WKNO The seminar will be held from 8:30 could simply tell Mays the talks are over a.m. to 10:30 a.m. in the McCallum Ball- without specifically asking him to rule. 6 February 22-28, 2013 www.thememphisnews.com
contributors FEBRUARy 22-28, 2013, VOL. 6, NO. 9 news
real estate & DEVELOPMENT
President & CEO Seminar: Uncertainty Peter Schutt bill dries Senior Reporter
General Manager Emeritus Government, Transportation/Distribution/Logistics, Ed Rains Education, Manufacturing, Agribusiness Reigning Supreme 528-5277 | [email protected] Publisher Eric Barnes In Housing Market Associate Publisher & Executive Editor James Overstreet SARAH BAKER | The Memphis News Managing Editor Lance Allan Wiedower
Deputy Managing Editor andy meek Eric Smith Senior Reporter will be a big year tax and the sales tax has to make a break. on many real estate In Shelby County, you have unique issues Banking/Financial Services/Accountants, Markets & Economy, Associate Editor fronts – foreclo- such that the city of Memphis and Shelby Kate Simone Economic Development, Small Business, Attorneys/Courts/ 2013 Civil Litigation sures, property taxes and property values. County combined rate is significantly 528-5279 | [email protected] Graphic Designer & Photo Editor That was the message industry profes- higher than any other rate in the state.” Brad Johnson sionals heard Thursday, Feb. 14, at real But what value is it that the Shelby estate information company Chandler County Assessor of Property is trying to Graphic Designer & Illustrator Reports’ 2012 year-end “Master Your Mar- put on the property every four years? Emily Morrow ket” seminar at the Holiday Inn University Raines said under state law, Jan. 1, 2013, of Memphis. is the date at which the fair market value Senior Production Assistant Sandy Youngblood Attendees learned about two ongo- – what a willing buyer would pay for the ing issues that affect every homeowner property and what a seller would be willing Production Assistant and taxpayer – the 2013 Shelby County to sell it for. Laurie Beck SARAH BAKER reappraisal and the Shelby County school “For a number of years, especially back REPORTER consolidation. in the 70s and 80s, the assessor’s values Pressman Commercial and Residential Real Estate, Architects/Engi- Although separate but related topics, were usually Cedric Walsh neers/Construction, Advertising/PR/Media, Tourism/Hospi- tality, Food/Restaurants one word was used throughout both pre- less than you 521-2464 | [email protected] sentations from Andy Raines, property tax could really Pressman Pete Mitchell attorney with Evans & Petree PC, and Eric sell it for,” Barnes, publisher of The Daily News and Raines said. Pressman The Memphis News – uncertainty. “But over Robert SHANNON “We don’t really know what’s going to time, as happen with the schools yet,” Barnes said. reapprais- Administrative Specialist Marsha Payne “From a really callous real estate point of als became view … if the schools are a big driver of every four
Senior Account Executive where people buy and sell their homes, all Illustration: Shutterstock years, that Janice Jenkins DON WADE of this uncertainty isn’t helping a market gap has nar- SPORTS COLUMNIST move forward. From a somewhat civic rowed. Now, the game is really what is the Account Executive point of view, the only people it helps is the 100 percent fair value?” Lucy Blackmon [email protected] private schools.” Raines said for the first time in history, Despite the uncertainty with the ongo- the value of a reappraisal is going down. Advertising Director Don Fancher ing legal and legislation situation, Barnes How much the value decreases won’t be said one thing is almost certain: county official until April 20. Business Development Manager taxes are going to go up, perhaps consider- “Typically in a reappraisal, because Patricia McKinney ably. it’s every four years, values were going “It is a strange dynamic, even if they up, up, up – you would expect that the Director of Marketing & Circulation get a separate municipal school district, overall appraised value to go up, perhaps Donna Waggener LANCE MURPHEY county taxes, I think in general, are going go up significantly,” Raines said. “The best PHOTOGRAPHER Production/Distribution Manager to up,” Barnes said. “The city of Memphis, indication we have now is that the overall John Buescher the City Council is committed, and they value of the property will go down.” Weekly features, spot news [email protected] really mean this, to lowering property The assessor uses a mass appraisal Controller taxes in the city. That’s interesting from a technique and it’s different for residential Pam Mallett real estate point of view. People who say, ‘I and commercial. This is because there are To reach our editorial department, e-mail: want to get out of that really high double 350,583 parcels in the county. For com- [email protected] or call: 901-523-1561 taxation in the city of Memphis,’ you could mercial property, various appraisers use an Published by: envision over the next four to eight years, income-approach model based on market THE DAILY NEWS PUBLISHING CO. 193 Jefferson Avenue a time when that difference isn’t quite as data and then tailor it to each property Memphis, TN 38103 dramatic.” type. P.O. Box 3663 Memphis, TN 38173-0663 To that end, Raines said the 2013 For residential, values come down to Tel: 901.523.1561 county reappraisal is very crucial because, neighborhood comparable sales – hence Fax: 901.526.5813 www.memphisdailynews.com The Daily News is supportive, including in generally speaking, as property taxes go the relevance of a homeowner’s proxim- some case being on the boards of, the following up the value of property goes down. With ity to foreclosures. Raines said the as- The Daily News is a general interest organizations: Literacy Mid-South, Grace St. newspaper covering business, law, Luke's Episcopal School, Wolf River Conservancy, commercial property, that affects buy- sessor uses “a common sense test” – if a government, and real estate and Ronald McDonald House, Great Outdoors ers because when taxes are higher, net neighborhood has 10 sales and eight of development throughout the Memphis University, Tennessee Wildlife Federation, metropolitan area. Temple Israel, St. Jude's, St George's operating income is lower. With residential them are foreclosures, deeper analysis is The Daily News, the successor of the Daily Independent Schools, Shelby Residential & property, buyers look at property taxes as directed at those foreclosures. But if there Record, The Daily Court Reporter, and The Vocational Svcs, Shelby Farms Park, Calvary Daily Court News, was founded in 1886. & The Arts, Bridges, Boys & Girls Club of a component of what they’re going to pay were only two foreclosure sales out of 10, Greater Memphis, Binghampton Development for the house. it’s not as applicable. Barnes said foreclo- Corporation, U of M Journalism Dept., Chickasaw AUDIT PENDING Council Boy Scouts, Memphis Leadership “Taxpayers need to be aware and sure attorneys and trustees are predicting Foundation, Junior Achievement, Overton Park very diligent about keeping an eye on the foreclosures will jump about 20 percent – a Conservancy, The Cotton Museum and WKNO. property taxes,” Raines said. “In Tennes- result of two recent settlements with Bank see, with no state income tax, the property of America and Wells Fargo. www.thememphisnews.com February 22-28, 2013 7
news
education Schools Merger Issues Moving on Several Fronts
BILL DRIES | The Memphis News
he schools merger issue is moving mindset that the merger would mean few “The old Shelby County Schools dis- according to an email she sent board again on several fronts less than six changes at the school level. trict had a very rich staffing model, which members Friday, Feb. 15. Tmonths before the first school year What shook them was a look at the amounts to about $80 million extra a year,” During the interview program, which of the consolidation begins. staffing models for the consolidated school board member David Reaves said was recorded Friday, Feb. 15, Hart made The movement began with the release school system and the elimination in on the WKNO-TV program “Behind The no mention of a move to delay the schools of a preliminary schools budget for the county schools of vice and assistant Headlines.” “That basically has somewhat merger. first year of the merger that shook many principals as well as teaching assistants at inflated the unified school district’s new But she, Orgel and Reaves talked of county and city schools parents out of the some schools. budget number to $145 million.” the need for a better long-term plan for a Reaves as well as school board chair- combined system and possibly a phased- man Billy Orgel and board member in merger plan over several years. Tomeka Hart were also on the program “We have so many schools and so hosted by Eric Barnes, publisher of The many are under utilized,” Reaves began earnings Daily News. The program can be seen at as he talked about the “urban educa- The Daily News Online, www.memphis- tion model” in city schools. “And over the years, we’ve not been able to get to the Medtronic Revenue point where we have larger schools full of more children adding more educational programs. That is an expensive model that Up in Third Quarter is not sustainable as well.” Orgel then said the change isn’t as simple as closing 21 under-utilized schools all at once as was recommended to the MICHAEL WADDELL | The Memphis News year-over-year on a constant currency The cuts specifically that school board by the transition planning basis (4 percent as reported), driven they talked about really commission last year. by continued decline in bone graft and hammered them hard on “Instead of just putting a number on it balloon kyphoplasty sales. However, the and a dollar figure and then working your edtronic Inc. announced on company’s Core Spine revenue, exclud- all of the professional way toward it, I’d like to look at the com- Tuesday, Feb. 19, higher than ing balloon kyphoplasty, grew 2 percent development, all of the munities where the schools are located M anticipated revenues of more in the third quarter, driven by continued standards the district is – figure out how the feeder pattern looks, than $4 billion for its fiscal third quarter adoption of new products and therapies “ if the elementary schools are not feeding trying to enforce, all of ended Jan. 25, marking an increase of and strong growth in sales. the testing. I’ve noticed the middle and high schools,” Orgel said. 3 percent as reported compared to the “Hospitals are investing in our capital “If we’ve got seven or eight high schools in same period last year. equipment for spine surgery, as they see … middle schools were hit southeast and southwest Shelby County “We are playing a leading role in clear value from better outcomes and hardest. That concerns me.” and they are under utilized … let’s put a fa- transforming global health care by more efficient procedures,” Gary Ellis, – David Reaves cility centrally located that can be a larger implementing our long-term strategies Medtronic senior vice president and chief School board member high school.” of economic value and globalization,” financial officer, said in a statement. “In Orgel conceded that would take time Omar Ishrak, Medtronic chairman and fact, in accounts that have our OR, we are and he and Reaves said it would mean CEO, said in a statement. “We are only at seeing Core Spine revenue grow 10 points paying more in capital costs, which are the beginning of establishing our track higher than non-OR accounts this fiscal dailynews.com. funded through bonds and not general record, but we believe that crisp execu- year.” Reaves met recently with principals fund revenue to the school system from tion of both our baseline and long-term The impact from the new medical about the impact of the original budget the property and sales tax rates. growth strategies, combined with strong device excise tax, which took effect Jan. plan. “It needs to be thoughtful,” Orgel said. and disciplined capital allocation, will 1, was less than the company expected “The cuts specifically that they talked “It doesn’t need to be us sitting in a board enable us to create long-term depend- thanks to final rules and regulations that about really hammered them hard on all meeting and taking a pen and scratching able value in health care.” were recently released stating that the of the professional development, all of the through this one and playing games with The Minneapolis-based medical tax only applies to newly manufactured standards the district is trying to enforce, people’s lives.” device company, which makes implant- devices and not on older inventory. all of the testing. When you start cutting Hart’s motion is the second time a able heart devices, insulin pumps and “So there’s going to be a little bit of a assistant principals out of those roles then merger delay has been advocated by a spine surgery products, has its Spinal and smaller ramp-up on the device tax itself it puts a lot heavier burden on the teach- school board member. Biologics Business based in Memphis. just based on the existing inventory levels ers,” he said. Countywide school board member The spine unit is the second largest out there for various businesses,” Ellis “There will be some amount of impact David Pickler suggested last March a delay at the company, employing 5,600 people said. to some schools. I’ve noticed particu- to those on the schools consolidation worldwide and approximately 1,500 Medtronic had previously anticipated larly in these formulas that the … middle planning commission. employees locally, with annual revenue roughly $50 million in medical device schools were hit hardest. That concerns Planning commission chairwoman of $3.4 billion. tax for the fiscal year, but the company is me.” Barbara Prescott said most of the 21-mem- “We continued to see stabilization in now slicing that estimate in half to only The board’s preliminary budget to the ber panel that made recommendations to the spine market, and I was pleased by $20 million to $25 million. Shelby County Commission seeks $145 the school board on the merger structure our overall performance in Core Spine, Medtronic’s third quarter net earn- million in new funding from the county was opposed to a delay. including our ability to take market ings and diluted earnings per share on to restore those staffing cuts. But neither Pickler didn’t pursue the delay as other share,” Doug King, Medtronic senior vice a non-GAAP basis were $946 million Orgel, nor Reaves nor Hart believe the events intervened including a Tennessee president and president of Medtronic and $0.93, an increase of 7 percent and County Commission will approve it. Attorney General’s legal opinion saying Spine, said in a statement. 11 percent, respectively, over the same Meanwhile, Hart wants the board to the move to suburban municipal schools For the third quarter, total Spine rev- period in the prior year. Third quarter net consider “an extension of the effective districts couldn’t begin until the August enue of $753 million declined 3 percent earnings equaled $988 million. date of the merger for one (school) year,” 2013 date for the merger to begin. 8 February 22-28, 2013 www.thememphisnews.com
EARNINGS financial services EdR Income Rises Dixon Hughes Adds In Fourth Quarter
SARAH BAKER | The Memphis News Associates in Memphis
ANDY MEEK | The Memphis News
dR reported a net income of $4.8 mil- lion in the fourth quarter, compared to Ea $5.8 million loss during 2011’s fourth quarter. Largest certified public accounting firm based in the Southeast The Memphis-based collegiate housing continues growing in Memphis with new employees real estate investment trust attributed its year- over-year net increase to operating profits from new communities, a $7.9 million loss ixon Hughes Goodman LLP, the largest certified states and is the 14th largest certified public accounting on sale of assets in 2011 and lower interest public accounting firm based in the Southeast, is firm in the country. In addition to comprehensive account- expense. Dcontinuing to grow in Memphis. ing and advisory services, the firm focuses on eight major Randy Churchey, EdR president and CEO, The firm has added six new associates to its team of industries and serves clients in all 50 states. said in a Tuesday, Feb. 19, conference call CPAs, advisers and auditors. The new class of associates at Dixon Hughes generally recruits for two kinds of with shareholders that the company had a the firm represents recent graduates from Mississippi State groups. The company has a constant cyclical recruiting misstep with the finish to the fall 2012 leasing University, the University of Mississippi, Rhodes College, process on college campuses, where it recruits heavily campaign. Consensus industry same-store Millsaps College and Christian Brothers University. from schools across the company’s footprint. revenue increases ranged from flat to less “Every year we are really excited to see what the new “That’s one place where we’re always looking to grow, than 3 percent, while EdR ended at a same- graduates of accounting programs in the area have to of- to find folks to come in at that entry level and work their store revenue increase of 1 percent. fer,” said Dixon Hughes managing partner Anthony Clark. way up,” Oliphant said. “After two consecutive years of industry- “And this year I think we’ve really done a great job recruit- The other area the company is frequently looking to leading increases in same-store revenue, this ing the best graduates in the field.” hire in involves experienced hires. finish was humbling and disappointing,” Members of the firm’s new associate class are Ashley When Dixon Hughes finds professionals with experi- Churchey said. “But we’ve learned from this Kershaw, Matthew Frank, Garrett Bizzell, Samantha Abel, ence and accountants and CPAs with specific industry experience and believe we will perform better Jenna Lea Presley and Kelly Nolan. expertise like state and local taxes or estates and gifts, this fall.” “It’s been a good year, and what we’re seeing is it’s get- Oliphant insists the company can almost always find a Total revenues for the three months ended ting kind of harder to find these good folks,” said Jay Oliph- place for them. Dec. 31, were $43 million, compared to $32.7 ant, a CPA at Dixon Hughes. “So we’re always keeping our ears open for those expe- million for the same period in 2011. “I think they’re getting a few more options as the rienced accountants who have specific expertise either in EdR’s core funds from operations for the economy grows. I think other firms, other companies are an industry or a particular service line like litigation sup- quarter were $18.1 million, up $5.5 million growing too. port or business valuation,” Oliphant said. from the prior year. EdR said that improve- “So when we go back to these college campuses and Dixon Hughes’ roots run deep in Memphis. Dixon ment reflects an increase in operating profits recruit for our program, we’re finding out a lot of these Hughes joined forces with one of Memphis’ oldest and from new communities and lower interest interns have a lot of options, at least at the accounting well-respected accounting firms, Rhea & Ivy PLC, in 2008. expense. Same-community net operating schools and where students are getting a degree in ac- That combination followed Rhea & Ivy’s more than 50-year income for the quarter decreased 2.7 percent counting. tenure in Memphis serving clients with accounting and on flat revenue and a 3.3 percent increase in “We’ve got more competition for these accounting stu- business advisory services. operating expenses. For the full year, same- dents, so we’ve got to show them all the great things about In 2011, Dixon Hughes merged with Goodman & Co. community net operating income increased Dixon Hughes Goodman.” LLP, a 600-person firm located primarily in Virginia, with 5.7 percent. Dixon Hughes employs more than 1,700 people in 11 offices in the Washington area.
Quiet Economic Period Could Lead to Frisky Phase
Buyer Intent Building low since Dec. 19. Since then, on average, volume has hit $182 billion so far in 2013. but also the mid-size and smaller players. By some analysis, the last two weeks the market has rallied nearly 60 percent This represents the fastest start to a year Mixing together a lower volatility have exhibited the lowest stock market off its daily lows into the close. With down- since 2005. environment, rising investment intent, and volatility since 1986. While sideways mar- side volatility mitigated by investment Large corporate deal making requires accelerating corporate finance activity kets are boring, they also intent searching for execu- significant confidence, cash, and credit. may finally stir animal spirits. These spirits reduce anxieties. On aver- tion, and upside volatility Other capital market activities exhibit consistently appear later in cycles and age, since 1980, the S&P mitigated by the conclusion confidence markers as well. Year to date, eventually sow the seeds of their own de- 500 experienced intra-year of earnings season, this global IPO activity has eclipsed $10 billion, mise as the investment decision-making declines of 15 percent. quiet period may continue. triple the level of activity to this point in process becomes clouded by optimism. Last year, the market For investors already 2012. Corporate bond issuance globally Clearly, we are nowhere near that shed a milder 10 percent invested, a sideways period has hit historic levels, as voracious inves- point. In economics, animal spirits act as a between April and early David S. Waddell of adjustment feels fine af- tors and issuers mate in a historically low catalyst for heightened activity levels and June. With last year largely the worldly ter a 20 percent rally since interest rate environment. economic velocity. Caveat: improving cor- crisis-free and this year investor June. For those looking to Also, according to a recent Senior porate appetites do not prevent periodic already calmer still, an turn investment intent into Loan Officer Report published by the Fed, drawdowns in stock prices. However, if a even less active market would fortify execution, it feels frustrating. Given what “Moderate fractions of domestic banks typical drawdown appears while momen- investor confidence. With mountains of we have been through, this is a very com- indicated stronger demand for C&I loans tum in animal spirits continues to build, capital idling in cash and yield-free bonds, forting frustration. by firms of all sizes, on net, and cited those looking for an invitation to partici- investment capability is high. Those with their customers’ increased investment in pate need to RSVP. ready cash often wait for “pullbacks” as Spring Fever plant or equipment and increased need David Waddell, who is regularly fea- entry points. However, high levels of intent With the announcement of the Heinz to finance mergers or acquisitions and tured in the Wall Street Journal, USA Today quickly reverse pullbacks when they oc- acquisition by Berkshire Hathaway and the accounts receivable as the main reasons and Forbes, as well as on Fox Business cur. This fits the current trading pattern. proposed merger of American Airlines and for increased loan demand.” Translation, News and CNBC, is president and CEO of The S&P 500 has not closed a day on its US Airways, total merger and acquisition it’s not just the larger players feeling frisky, Memphis-based Waddell & Associates. www.thememphisnews.com February 22-28, 2013 9 Money&Markets Extra Apple and Priceline.com seem like anybody who went to see Lincoln realizes that are cheap. If we do that, how the of an explosively growing market with two very different stocks: Apple has gone that the political parties have hated each market does is irrelevant. great execution is a rarity. mostly downward since September, and other for time immemorial. There isn’t Where to go Priceline.com has been in a nearly non- rioting in the streets. I think the world is You own Priceline.com, which has Are you sticking with Apple despite its stop climb since 2009. But Mitch Rubin going to be messy forever, and you almost more than tripled in three years. You steep fall since September? Insider likes both. His mutual fund that focuses never get good news and cheap stocks. don’t think that’s expensive? It’s the most controversial best company for growth Q&A on large-cap growth stocks (RPXFX) has So if you’re an investor, you’d rather have The company’s earnings have grown we’ve ever owned. We’ve owned beaten the Standard & Poor’s 500 index bad news and cheap stocks today and more than the stock price has gone up, Apple since 2004, through a bunch of Title: Chief investment officer in each of its two full years of existence. It good news and expensive stocks later. so it’s gotten cheaper every year. Their different cycles. Its earnings have grown of RiverPark has returned 16 percent over the last 12 management team realized that the dramatically more than the stock price, Funds. months, putting it in the top 10 percent of So, do stocks look cheap today? most profitable place to create a booking so it’s never been cheaper than it is What he all large-cap growth stock mutual funds. There’s a lot of internal discrepancy. engine would be in Europe. That’s now. If Apple grows its earnings at 15 suggests: Look There are some stocks selling at very because while the U.S. has lots of hotels, percent going forward, they will have for high-growth What do you think about all these high price-to-earnings multiples that are it’s a market where most hotels operate more cash than the market value of the stocks that are political crises that investors have growing a lot. There are also stocks that under a big brand. In Europe, it’s mostly company. That’s crazy. But the market cheap, and you can ignore the been subject to recently? are growing a lot that are very cheap be- an unbranded market. They bought the thinks the business has tremendous risk larger market’s If you look over the past 50 or 100 years, cause people see competitive pressures. biggest and best hotel booking engine and deserves a low price-to-earnings movements the world today is not that bad. We’ve I think it’s a real stock picker’s market. in Europe, they signed up tons of hotels, multiple. That is a disconnect. Mitch Rubin been through world wars, banking crises. There are lots of winners and losers. We they marketed well and they’re an incred- The euro is only 14 years old or so, and want companies that have a lot of growth ibly profitable company. The combination Answers edited for content and clarity. AP
BEHIND THE BRAND TRIPADVISOR (TRIP) Yen races to the bottom Travel guru The yen keeps sinking, and that’s fueling a rise in the Japanese stock market. The Japanese currency has plummeted 15 percent against the U.S. dollar over the last six months. The lower value of the yen helps Japanese exporters because the electronics, televisions and other goods that they make are more affordable to customers making purchases in other currencies. Japan’s prime minister, Shinzo Abe, favors a massive expansion of the money supply to create inflation and jolt Japan out of its two decade slump. TripAdvisor thrives on travelers other attractions. A stronger economy could strengthen the yen in eager to share opinions on The sites, which include the longer term. everything from hotels to airlines. airfarewatchdog.com, The ongoing decline is part of a move by central The company runs more than a bookingbuddy.com and banks around the world to help their economies by dozen travel websites where virtualtourist.com, also show pricing buying bonds and keeping interest rates low. It’s also visitors can read and post reviews information and include links to on airlines, hotels, restaurants and travel reservation portals like resulted in big gains for stockholders: The Nikkei 225 Priceline, Orbitz and Expedia, index has jumped 24 percent in the last six months. Thursday’s close: $42.94 which spun off TripAdvisor in 2011 But further moves may in an initial public offering. not come as easily. Price-earnings ratio: 31 As travel spending picked up (based on last 12 mos.) Currencies have last year, so did traffic on TripAdvi- Over the last six months, the historically had even 52-week price range sor sites catering to travelers in the Japanese yen is down: bigger swings. The $29 $49 U.S. as well as abroad, particularly yen’s recent decline Asia. All told, 60 percent of the has only brought it YTD stock change: 2% traffic to TripAdvisor portals closer to where it was YTD S&P 500 change: 5% originates outside the U.S. and Great Britain. for much of the 2000s. Market value: $6.1 billion The U.S. dollar has lost That has helped the company 2012 revenue: $763 million 15 percent 20 percent 12 percent 5 percent against the increase its advertising sales. against the against the against the Last year, TripAdvisor’s revenue euro in the last six Avg. broker rating: U.S. dollar euro British pound months, but the dollar is jumped 20 percent to $763 million. still stronger than it was SELL HOLD BUY That drove a 9 percent annual gain for much of 2011. in earnings. Its stock is up about 2 percent this year.
Source: FactSet Data through Feb. 21 Stan Choe, Jenni Sohn • AP Source: FactSet Data through Feb. 21 Alex Veiga, Jenni Sohn • AP
LocalStocks 52-WK RANGE CLOSE YTD% 1YR% 52-WK RANGE CLOSE YTD% 1YR% COMPANY TICKER LO HI CLOSE THUR. %CHG WK MO QTR CHG RTN P/E DIV COMPANY TICKER LO HI THUR. CHG %CHG WK MO QTR CHG RTN P/E DIV AT&T Inc T 29.95 7 38.58 35.43 -.04 -0.1 s s s +5.1 +24.1 29 1.80f Medtronic Inc MDT 35.67 8 47.41 44.73 -.03 -0.1 t t s +9.0 +14.6 13 1.04 s s s AutoZone Inc AZO 341.98 7 399.10 377.56 -2.40 -0.6 +6.5 +5.5 16 ... Merck & Co MRK 36.91 6 48.00 42.50 -.16 -0.4 s t s +3.8 +15.0 20 1.72f 8 t s s BancorpSouth BXS 11.43 15.69 14.62 -.19 -1.3 +0.6 +23.9 16 0.04 Mid Amer Apartments MAA 60.38 9 70.22 68.96 +.16 +0.2 s s s +6.5 +13.3 28 2.78f Boyd Gaming BYD 4.75 4 9.59 6.35 -.20 -3.1 t t t -4.4 -31.7 dd ... Monsanto Co MON 69.70 9 104.19 98.71 +.05 +0.1 t t s +4.7 +26.1 24 1.50 Buckeye Technology BKI 23.52 3 35.98 26.84 -.16 -0.6 t t t -6.5 -17.6 12 0.36 Mueller Inds MLI 39.72 9 55.53 52.85 -.40 -0.8 t s s +5.6 +14.6 23 0.50 Community Hlth Sys CYH 20.53 0 42.98 41.50 +.32 +0.8 t s s +35.0 +99.9 16 0.25e 3 t s s Corrections Corp CXW 23.40 9 39.31 36.95 -.57 -1.5 t t s +4.2 +57.4 23 0.80 Navistar Intl NAV 18.17 45.04 24.87 -1.04 -4.0 +14.2 -41.8 dd ... t s s Cummins Inc CMI 82.20 7 129.51 112.53 -2.30 -2.0 t t s +3.9 -4.0 13 2.00 Nike Inc B NKE 42.55 9 57.41 54.54 +.52 +1.0 +5.7 +2.7 23 0.84 Delta Air Lines DAL 8.42 8 14.90 13.56 -.26 -1.9 t t s +14.2 +27.6 11 ... Pinnacle Entert PNK 8.89 6 16.97 13.40 -.35 -2.5 t t t -15.4 +18.8 15 ... t s s Dillards Inc DDS 51.11 9 89.98 85.48 -.97 -1.1 +2.0 +78.0 14 0.20a Regions Fncl RF 5.46 9 8.00 7.59 -.12 -1.6 t t s +6.5 +29.2 11 0.04 0 t s s Dover Corp DOV 50.27 73.25 71.62 -.60 -0.8 +9.0 +11.3 16 1.40 Renasant Corp RNST 14.42 0 22.24 21.99 +.03 +0.1 s s s +14.9 +39.5 21 0.68 DuPont DD 41.67 4 53.98 46.52 -.02 ... t t s +3.4 -6.3 16 1.72 Smith & Nephew PLC SNN 44.84 7 58.24 53.33 -.82 -1.5 t t t -3.7 +10.2 79 1.04e Education Realty Tr EDR 9.72 7 11.81 11.04 -.06 -0.5 s s s +3.8 +8.1 cc 0.40 Smucker, JM SJM 71.81 9 94.99 91.90 +.20 +0.2 t s s +6.6 +28.3 20 2.08 FedEx Corp FDX 83.80 9 107.50 104.88 -.81 -0.8 t s s +14.3 +14.2 17 0.56 7 t t t Fst Horizon Natl FHN 7.44 9 10.99 10.44 -.21 -2.0 t s s +5.3 +11.5 dd 0.20f Suntrust Bks STI 20.96 30.79 27.46 -.12 -0.4 -3.1 +22.4 8 0.20 t r s Freds Inc FRED 12.30 4 15.98 13.75 +.15 +1.1 s s s +3.3 -4.4 15 0.24a Synovus Fincl SNV 1.67 8 2.82 2.52 -.04 -1.6 +2.9 +30.7 dd 0.04 GTx Inc GTXI 2.62 7 5.41 4.48 -.07 -1.5 t t s +6.7 -21.6 dd ... Sysco Corp SYY 27.05 0 32.68 32.66 +.13 +0.4 s s s +4.1 +14.1 18 1.12 t s s Ingram Micro IM 14.42 9 20.21 19.26 -.31 -1.6 +13.8 +0.3 10 ... Trustmark TRMK 20.76 6 26.35 23.56 -.16 -0.7 t s s +4.9 +0.7 13 0.92 9 t t s Intl Paper IP 27.29 42.90 41.31 +1.24 +3.1 +3.7 +23.1 21 1.20 Tyson Foods TSN 14.07 0 24.31 23.40 -.16 -0.7 t s s +20.6 +25.5 14 0.20 Isle Capri Casino ISLE 4.75 5 7.92 6.20 -.24 -3.7 t t s +10.7 +8.2 dd ... UPS class B UPS 69.56 9 84.87 82.61 -.58 -0.7 t s s +12.0 +11.4 60 2.48f Kellogg Co K 46.33 0 60.30 59.67 -.10 -0.2 t s s +6.8 +17.1 23 1.76 Utd Technologies UTX 70.71 9 91.51 89.41 -.75 -0.8 t s s +9.0 +10.1 16 2.14 Kirklands Inc KIRK 8.26 4 17.42 11.56 -.02 -0.2 t s s +9.2 -28.8 15 ... 0 t s s Kroger Co KR 20.98 0 28.80 28.76 +1.09 +3.9 s s s +10.5 +17.9 24 0.60 Valero Energy VLO 20.00 47.85 45.53 +.60 +1.3 +33.4 +82.6 12 0.80f t t t LifePoint Hosp LPNT 34.32 8 46.25 43.52 -.34 -0.8 t s s +15.3 +9.7 15 ... Verso Paper Corp VRS 0.98 1 3.36 .99 +.01 +1.0 -7.5 -29.0 dd ... Macy’s Inc M 32.31 8 42.17 39.33 -.18 -0.5 s s s +0.8 +11.2 12 0.80 Wright Medical Grp WMGI 16.05 8 22.59 21.28 -.15 -0.7 t s s +1.4 +27.9 cc ...
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 February 22-28, 2013 www.thememphisnews.com
Do You Need health care & biotech Life Insurance? Ray’s Take Dynamic Imaging For most people, life insurance decisions depend on two things: 1) whether anyone depends MICHAEL WADDELL | The Memphis News on your income to support their standard of living, and 2) whether you have enough other assets that could provide what is needed. Life insurance can be an important tool to achieve personal goals. How much and what kind you need depends on those goals. It’s all a question of math, what you want to achieve, and what you can afford. If the goal is to maintain the same standard of living for dependents but only for a set period of time – say, until minor children should finish college – figure out how much money ray & dana Brandon that would rays of wisdom take, adjust for inflation and an estimated capital growth rate, and that’s the amount of life insurance you need. If the goal is to cover needs without depleting the capital your life insurance creates, that’s an- other, significantly higher, number. In that case, you would want your benefit level to deliver an average annual distribution of cash flow that would cover a Photo: Courtesy of MRI Interventions year’s expenses. Typically, this is figured at about MRI Interventions is intensifying rollout efforts for its ClearPoint Neuro Intervention four or five percent. For example, if you wanted your System, which performs real-time, MRI-guided, minimally invasive neurosurgery. life insurance policy to replace a $50,000 annual income adjusted for inflation, you would need at least $1 million in coverage. You may have other assets that could be used MRI Interventions boosts ClearPoint Neuro Intervention System to maintain your dependent’s lifestyle, however you may not want to see those assets liquidated, RI Interventions Inc. is visualization for the physician to see agreement with Brainlab, a software- whether they’re a vacation home or less liquid farm intensifying rollout efforts inside the brain what they are doing driven medical technology company. land. Then your life insurance policy should provide Mfor its cutting-edge Clear- when they are doing it. “We are first to market for this funds that would protect those assets from being Point Neuro Intervention System “Our ClearPoint system is made real-time MRI-guided neuro-inter- sold. There are a few other scenarios that can drive imaging system. to provide real-time visualization vention system,” said Oscar Thomas, the insurance decision, but they should be goal The system is used in minimally using MR images that are captured MRI VP of business affairs. driven. Your CFP or CLU can help with the analysis. invasive surgical procedures on the intra-procedurally,” Carlson said. MRI is also partnering with Most people don’t have unlimited resources. So brain, such as MRI-guided deep ClearPoint Procedures can be Siemens Healthcare to develop it’s usually a question of balancing goals and assets. brain stimulation (DBS) surgery, performed in a hospital’s existing the ClearTrace system to enable Life insurance is an effective tool for you to use, not focal laser ablation, and brain tis- MRI suite and can be used with both MRI-guided catheter ablations for something that’s absolute. sue biopsy. The ClearPoint system 1.5T and 3T scanners. There are ap- treatment of cardiac arrhythmias, provides stable guidance for the proximately 4,500 1.5T MRI scanners including atrial fibrillation, and the Dana’s Take placement and operation of instru- and 550 3T MRI scanners installed in company is also working with Bos- Most people focus on the primary wage earner ments or devices during neurologi- hospitals throughout the U.S. ton Scientific Corporation to incor- when determining life insurance needs. However, cal procedures performed within MRI received FDA clearance for porate its MRI-safety technologies you may also want to consider life insurance for a MRI suites using MR imaging. ClearPoint in mid-2010. The system, into Boston Scientific's implantable spouse who earns far less or is a full-time home- The company recently finalized which consists of an integrated sys- leads for cardiac and neurological maker. a deal with a group of new and exist- tem of hardware components, dis- applications. While there may not be much income that ing investors that will generate $11 posable components and intuitive, “We have shifted more focus needs replacing, there are sure to be extra ser- million from a definitive securities menu-driven software, stayed at the towards the ClearPoint commercial- vices that would need to be purchased should this purchase agreement for the private University of California at San Fran- ization effort and scaled back slightly spouse pass away. These can include childcare, placement of approximately 9.1 mil- cisco for the first 10 months after ap- the R & D activities for the ClearT- proval and then had a limited launch race system,” Carlson said. “We will housekeeping, transportation and other expenses. lion shares of its common stock and warrants to purchase approximately that began in the spring of 2011. The continue to move forward with the Depending on the age and number of minor 4.6 million shares of its common recent $11 million move is expected R & D activities for ClearTrace, but children, those numbers could add up quickly. If you stock. The proceeds will fund the to strengthen the company's balance it will simply be at a slower pace. To haven’t had to pay for any of those services before, further commercialization of Clear- sheet, and it will pave the way for the our knowledge there is not another you could be shocked at how high they can be. Point. completion of the commercial roll system that is FDA-approved that Find out what those services cost and consider “We believe that if physicians out of the system. provides a real-time visualization an additional life insurance policy that will cover can see what they are doing, then “The system is now in use at when performing an ablation pro- them. While money can never replace a spouse, they will do a better job and have 18 sites inside the U.S. and two cedure.” at least it can help reduce the uncertainty and better outcomes, and it will be sites outside the U.S.” Carlson said. MRI’s executive offices are expenses related to a tragic change in your family’s easier for surgeons to perform those “Emory University Hospital in Downtown at One Commerce circumstances. surgeries,” said David Carlson, MRI Atlanta is the closest in proximity to Square, while the company main- Ray Brandon is a certified financial planner and Interventions chief financial officer. Memphis.” tains a distribution and manufactur- CEO of Brandon Financial Planning (www.bran- “While a surgical procedure or a MRI Interventions formed in ing facility in Irvine, Calif. MRI chief donplanning.com). His wife, Dana, has a bachelor’s therapy is being delivered, a physi- 1998 to create innovative platforms executive officer Kimball Jenkins is a degree in finance and is a licensed clinical social cian is able to see the images in real for performing the next genera- lifelong Memphian and had no de- worker. Contact Ray Brandon at raybrandon@bran- time while they are actually perform- tion of minimally invasive surgical sire to relocate the executive offices. donplanning.com. ing the procedure.” procedures in the brain and heart. “Given the fact that Memphis is Conventional or traditional pro- The new ClearPoint system was co- a hub city,” Carlson said, “it gives us cedures do not provide any kind of developed and co-distributed in an some flexibility as far as flights.” www.thememphisnews.com February 22-28, 2013 11
manufacturing Craft Brewery to Open on Broad
SARAH BAKER | The Memphis News Memphis, attended White Station High tions, whereas most beer enthusiasts School and are longtime beer connois- have informal schooling. seurs. Some 10 years ago while visiting “I think a lot of people just don’t Memphis from the respective cities they understand how complex the process is new craft brewery is coming to had relocated to, they shook hands at of making beer,” Davin Bartosch said. one of Memphis’ up-and-coming Soul Fish Café during the Cooper-Young “I gave tours to people and they would Aareas – the Broad Avenue Historic Festival on eventually making their dream ask, ‘when do you add the vodka?’ Even District. Wiseacre Brewing Co., a con- of owning a brewing a reality. something like making wine is incredibly cept from brothers Kellan Bartosch and Davin Bartosch, the older brother, has simple compared to making beer – you Davin Bartosch, has leased 13,000 square a background in brewing. After home- just crush grapes and add yeast. There’s feet at 2783 Broad Ave. and is planning brewing for seven years, he went to the so many more steps involved in a glass of to open by late 2013. They chose the old Siebal Institute of Technology in Chicago beer.” warehouse for its “big open space” and and Doeman’s Academy in Munich, Davin Bartosch said Memphis’ water the Binghampton neighborhood for its coursework that led him to graduate as is “very soft,” and the mineral content community appeal. salutatorian from the World Brewing makes brewing easier than most places. “Broad is having this revival of space Academy in 2008. “We have water that’s very similar to with art studios and a bike shop, res- Since then, Davin Bartosch has been the water that’s in Pilsner in the Czech Re- taurants and bars that do well,” Kellan working professionally as a head brewer public, which is where the original lagers Bartosch said. “It’s accessible to Sam for Rock Bottom Breweries in Illinois. He’s where produced,” he said. Cooper and that’s important with just received accolades from the Great Ameri- Andy Cates and Preston Thomas of the geography of Memphis being what it can Beer Festival, the World Beer Cup and Colliers International represented Wise- is. The (Shelby Farms) Greenline’s going the Festival of Wood & Barrel Aged Beer. acre in lease negotiations. Bill Bell of Bell right through, which is another really cool Kellan Bartosch worked for Det Dis- Properties represented the landlord. part of the location, so people who are tributing Co. in Nashville before becom- Cates said the property Wiseacre is coming up on two wheels, it’ll be a fun ing a sales rep for Sierra Nevada in Las Ve- leasing allows for an expansion of their way just to stop by.” gas. He holds the Cicerone Certification, business and a possible event location. Kellan Bartosch said he and his the beer world’s equivalent to a creden- “These partners have spent several brother were inspired by the way Robert tialed wine Sommelier, which designates years in planning for this business and are Montague and the Binghampton Devel- those with proven expertise in blind beer well prepared to hit the ground running,” opment Corp., David Wayne Brown and taste testing, style recognition, the history Cates said. “It is a great story of Memphis Pat Brown, and Loeb Properties Inc. have of brewing, food and beer pairings. natives coming back home.” worked to transform the neighborhood. The Bartosch brothers chose the Moreover, the Bartosch brothers be- “We’re looking forward to being a part name “Wiseacre” because it’s a lightheart- lieve Wiseacre and the city’s craft brewer- of kind of changing the neighborhood,” ed word their grandmother used to use ies are a proud story for Memphis to tell. Bartosch said. for smart alecks. “We have a lot of room to grow and Wiseacre will operate similar to the “It’s a brewery, so I don’t think we we’re excited that other people are open- recently announced Memphis Made Photo: Shutterstock should be like ‘esoteric brewery machine’ ing as well,” Kellan Bartosch said. “I think Brewing Co. LLC in Cooper-Young and or something,” Kellan Bartosch said. “It’s it will help the city of Memphis move High Cotton Brewing Co. in the Edge tap room is open. Wiseacre will produce a more fun than to have something that’s forward as a beer market and expect district – keg distribution to local bars regular lineup of year-round beers as well really deep and meaningful.” some good things to come along with and restaurants with a tap room in which as a selection of seasonal and limited- Even with a playful name, the educa- that. Just the way people want to have a customers can sample the current offer- edition brews. Davin Bartosch said the tional component of Wiseacre’s business good sports team in their town or a good ings and purchase beer to-go. versatility and variety of beer is what got is something the brother brewing team food scene, having a great beer scene is a Wiseacre also hopes to have local him interested in brewing. will take very seriously. Both of them have part of what makes cities cool and fun to food trucks in the parking lot when the The Bartosch brothers grew up in different sources of formal beer educa- live in.”
Team Building Leads to Fundraising Success
Part one of a two-part series leadership team helps ing goal. They should be development officer. It means that staff create accountabil- empowered to make deci- support the work of the fundraising chair Will hiring a fundraising ity and transparency. sions, and the decisions by producing and distributing fundraising professional solve your fundraising chal- Members are account- made by this team should reports and taking and quickly distributing lenges? Is it your secret wish that some- able to each other. Each be respected and imple- minutes that accurately capture action one will take care of fundraising so you member knows the mented by fundraising items and next steps. If you have selected can focus on the “more important” work commitments, roles volunteers and employees. a qualified fundraising chair and clearly of your nonprofit? Perhaps you seek a and responsibilities MEL & Pearl shaw With a strong fund- defined his responsibilities, you will be million-dollar bequest from an unknown of all other members. FUNdraising raising leadership team, amazed how he can assist you in meet- admirer. There are no secrets. the actions of staff, board ing your goals. He can do this because he Here’s the real secret to sustained If there is a lull in gifts received, the full members and volunteers are open to re- has made them his goals. He is no longer fundraising success: create and support team knows about it. When new gifts are view by team members. Financial progress helping your organization; he is now a fundraising team that meets regularly received, members know about it. When and expenses are reported regularly at orchestrating and attracting people and and “owns” your fundraising. That’s it. You fundraising management reports are these meetings. Members have the oppor- resources for something he believes in. can’t do it on your own. No one person can shared at each meeting, team members tunity to share information and coordinate Next week: team membership and solve all your challenges. You have to build can monitor the progress of fundraising their activities. When you have qualified meetings. and grow a team that includes your volun- activities, ask pertinent questions, and volunteers to assist with fundraising, you Mel and Pearl Shaw are the owners of teers, staff, executive leadership and board work with each other to create new strate- will be amazed at the solutions they come Saad & Shaw. They help nonprofit organi- members. Your team should be comprised gies and work-arounds. up with. The key to an effective fundraising zations and institutions rethink revenue of leaders who are committed to ensur- Your team should meet on a regular leadership team is for it to be volunteer-led sources. They are the authors of “How ing your nonprofit has the money and basis to report progress and challenges. with support from staff. That means the to Solicit a Gift: Turning Prospects into resources it needs to deliver on its mission. Members should work collaboratively to fundraising chair leads the team meet- Donors.” Visit them at www.saadandshaw. Here are the benefits. A fundraising help your organization reach its fundrais- ings, not the executive director or chief com or call 522-8727. 12 February 22-28, 2013 www.thememphisnews.com
LAW & THE COURTS Criminal Judge Higgs Changed Politics bill dries | The Memphis News
Otis Higgs – Shelby County Criminal Court Judge and Memphis mayoral candidate – dead at age 75
uneral services for Shelby County Higgs’ campaigns for Memphis mayor by 31,000 votes. gan the process to seek a consensus black Criminal Court Judge and Memphis in 1975 and 1979 were challenges of in- The 1979 mayoral race also went to challenger to Hackett. Higgs rejected the F mayoral contender Otis Higgs were cumbent Mayor Wyeth Chandler at a time runoff with Chandler winning by a margin concept. pending and being planned Monday, Feb. when black voters were not yet a majority of about 13,000 votes. It was the closest He got out of the race the day after a 18, just days after his unexpected death. in Memphis and Memphis had a runoff Higgs ever got. crucial meeting with then Congressman Higgs died suddenly Friday, Feb. 15, at provision. The two campaigns were built on a Harold Ford Sr. at Bloomfield Baptist the age of 75. He had been at work earlier The runoff provision that sent the top coalition of biracial political support that Church in South Memphis with rival in the day but left early because he didn’t two contenders in city races to a runoff had some success in the first election but contender and then former Memphis City feel well. if no one got a simple majority of the still couldn’t muster enough white votes Schools superintendent Willie Herenton. Higgs was elected to the bench in 1998 votes was later abolished in a 1991 federal to win in a runoff. Higgs came to the meeting alone to in his second tenure as a Criminal Court court ruling as a deliberate barrier to the It was a hard lesson that would affect find the church sanctuary packed with judge. He was first a judge from 1970 to election of black candidates on a citywide the way other black political leaders ran vocal sign-waving Herenton supporters. 1975 before making the first of three bids level. for citywide office. Higgs had filed his qualifying petition for Memphis mayor. Higgs was appointed Higgs never ran as a black consensus Higgs sat out the 1982 special election with the Shelby County Election Commis- to Division 4 the first time by then-Ten- candidate for mayor in either of the 1970s for mayor when Chandler resigned. City sion the day before. nessee Gov. Buford Ellington. campaigns nor his final full-fledged cam- Council chairman J.O. Patterson Jr. served Ford, Herenton and Higgs met pri- Higgs was the judge in the trial and paign for mayor in 1983. as interim mayor, becoming the city’s first vately in an upstairs church office. When acquittal of eight Shelby County Sheriff’s Higgs campaigned with a broad vision African-American mayor and then finish- the meeting ended, Ford and Herenton deputies and Memphis Police officers for a different direction for the city. He ing first in the special election field before came back down to the church sanctu- accused in the 1971 beating death of Elton campaigned largely as being more pro- going to a runoff with Dick Hackett who ary and Ford announced he was backing Hayes and the beating of another teenager gressive than Chandler and more willing won the runoff. Herenton. Higgs left the church by a back who lived. to cross racial lines. When Higgs returned to the mayoral door and his campaign ended. The incident and trial were a symbol The success of his first two campaigns campaign in 1983, he was no longer the Higgs was also Shelby County’s first of the racial division and tension present depended heavily on the ability to cross only black contender. Hackett won a full African-American sheriff. He was ap- in the city’s politics and daily life. The trial those lines as a candidate. term that year without a runoff and it was pointed to the position following the began, with Higgs presiding, as the racial Chandler beat Higgs by about 20,000 state Sen. John Ford who finished second. suicide of Jack Owens in 1990 and served balance in Memphis politics began to votes in the 1975 contest that went to a Higgs considered running for mayor less than three months until A.C. Gilless shift. November runoff. In the runoff, Higgs lost in 1991 as other black political leaders be- was elected sheriff later that year. WHO ARE YOU WATCHING? WHAT ARE YOU WATCHING? WHERE ARE YOU WATCHING? WHEN ARE YOU WATCHING? Monitor any person, property or company using WATCH SERVICE available through The Daily News online service. Your first 20 watches are FREE with your online service! Put any name, property address or company name into your Watch Service to have The Daily News search through thousands of NEW tax liens, bankruptcies, lawsuits, foreclosure notices, home sales, mortgages and much more. We’ll email you instantly whenever we find a match. www.memphisdailynews.com www.thememphisnews.com February 22-28, 2013 13
COMMUNITY
Future Talk ANDY MEEK | The Memphis News Former vice president Al Gore visits Memphis to promote his book about the future
ears off the campaign trail haven’t claimed talks on global diminished the typical features of an warming chronicled YAl Gore speech. in “An Inconvenient When the former vice president’s book Truth.” tour swung through The Booksellers at Gore remained a Laurelwood Monday, Feb. 18, there were visible presence in the the requisite shout-outs to familiar faces Memphis area during in the crowd, with Gore acknowledging his time as vice presi- by name people like Memphis Mayor A C dent under President Wharton Jr. and Roy Herron, chairman of Bill Clinton, even the Tennessee Democratic Party. making a memorable Gore’s remarks before signing copies visit to the Memphis of his new book, “The Future,” also went a in May International little long, though he promised to keep it Festival Barbecue short. Cooking Contest Always professorial, his comments also after years of having a varied from the mundane to the esoteric. booth at the contest as He weaved a description of spider goats a U.S. senator. into comments about things like the Prominent Mem- etymology of the word “thrall” and how phians who came out American “democracy has been hacked,” for his book sign- along with references to his Academy ing included former Award-winning documentary “An Inconve- Memphis City Council nient Truth.” Photo: Lance Murphey member Carol Chum- “This book was eight years in the mak- Al Gore spoke about his new book, “The Future: Six Drivers of Global Change,” at the Booksellers at ney, philanthropist ing,” Gore said. “I started collecting string Laurelwood on Monday, Feb. 18. Pat Kerr Tigrett and eight years ago. I moved all the furniture her son, investment out of my living room and put up a big the direction of the country in general, board member of Apple Inc. professional Kerr Tigrett. whiteboard.” he’s not pleased with Congress. He said at Gore also is the son of a U.S. senator He’s known to come off as a bit dry, but The reason is someone had once asked the time that Congress is pursuing poli- who began his political career as a con- Gore managed to work in a bit of humor him what he believes are the major driv- cies that he doesn’t think help the average gressman representing a Middle Tennes- during his remarks before the signing. ers of global change. Not content with a person, themes he reiterated in Memphis see district. He became a frequent sight in Referring to the investment company he simple answer, he gave a reply, then went Monday. Memphis during his tenure in Congress as co-founded with David Blood, Gore joked home, thought about it some more and “But I believe deeply in our ability as a he led the passage of the National Organ that he’d wanted to name the firm “Blood kept thinking about it until he’d turned out free people to reclaim our destiny,” he said. Transplantation Act of 1984. and Gore,” but his partners would have several hundred pages on the topic. There wasn’t much mention at all of That and other health issues were none of it. He also got some laughs right Along the way, he kept adding material technological changes driving the fu- Gore's first national political exposure. from the top, when he donned a hat he’s based on things happening in the world. ture. Not that it was necessary. Plenty of Several Memphis audiences in those early not often seen in – that of a salesman. He told The Daily News last month by iPhones, for example, were held aloft to years heard the speech and slide shows “I do recommend this book to you,” he phone that while he is encouraged about take personal photos of Gore, who is a that were the basis for Gore's later ac- said, right after greeting the crowd.
Finding Office Lease Savings for Your Business
If you have an office lease and pro-rata share of the increase and send it closely before approving for payment. ant. If you have been paying estimated you’ve ever received an invoice for a an invoice for this additional amount. The accounting should contain two sec- increases monthly based on a budgeted property tax and operating expense pass- As office brokers, we’re often called tions. The first is a summary of taxes increase, make sure you are credited for through, you’ll want to read this article to on by clients to review these summary and operating expenses by category. The all payments made. An understatement make sure you understand the process. statements, particularly when a relatively second is a calculation comparing the of your estimated payments would also You may be paying more than you should. large sum is due. In reviewing these an- most recent year with the appropriate lead to an erroneous request for addi- Your first question nual summaries, we’ve prior year. If an increase has occurred, tional payment. may be: what is a prop- FRAZIER BAKER & come across many your pro-rata amount of the increase will If you lease multiple suites with will BARDEN erty tax and operating GUEST COLUMN instances where mis- be determined. different base years, you can see how expense pass-through? takes have been made, Next: Compare, compare, compare. complicated this can become and how In many office leases, the tenant is re- sometimes resulting in an overcharge to Pull out prior years accountings and easily the pass-through charges can be sponsible for his or her share of increases tenants. While not frequent, we’ve seen compare them to the expenses claimed miscalculated. in property taxes and building operating cases where a client has been over- in the year in question. Identify signifi- Interested in learning more? In a expenses. The landlord usually closes the charged by thousands of dollars. The cant increases in each category and ask follow-up article, we’ll share some spe- books on a building at the end of each problem stems from the complexity of questions. For instance, why did building cific errors we’ve seen in the past, along calendar year and prepares a summary of the calculation and/or a lack of experi- maintenance increase so much? Why are with some best-practices reports. building operating expenses and prop- ence of the preparer. management fees up? erty taxes. Once the total expenses are Your next question should be: what Make sure the base year used for Frazier Baker, vice president of Office calculated, they are compared to a “base should I do to ensure I don’t overpay? comparison is correct. If the base year Services and Will Barden, vice president year” or fixed amount set forth in the ten- First: Be on the lookout for this annual amount shown is lower than it should be, of Office Services, provide office tenant ant’s lease. If an increase has occurred, accounting from your landlord or prop- this will trigger a higher pass-through, representation services for Colliers Interna- the landlord will calculate the tenant’s erty management company and examine resulting in an overcharge to the ten- tional | Memphis. 14 February 22-28, 2013 www.thememphisnews.com
EDUCATION Election Woes Divide Commission
BILL DRIES | The Memphis News
Commissioners split on severity of Election Day voting problems Boyce lied about that,” Meyers said. “I absolutely am saying it,” Monger replied. t one point during the Wednesday, Memphis when they were in the city of ing and specifically ask for information to Holden was suspended for three days Feb. 20, meeting of the Shelby Memphis. obtain any.” and put on probation by the election ACounty Election Commission, Monger’s specific point was that Hold- Monger contended the election com- commission for six months after prob- chairman Robert Meyers interrupted a en instructed the staff to delete a report in mission got an edited or shortened report lems in the August 2012 elections that detailed and lengthy lecture by election its summary to election commissioners. that deflected blame for the problems, included voters not getting ballots with commissioner George Monger by saying, The details in the report on the ad- which he called “unacceptable.” He also the correct district races after the once-a- “I object to the leading question.” dress problems in the Ross-01 precinct questioned election commission staff decade redistricting process for local and It drew the only laughs during the were part of the basis for a letter Wednes- about whether they were instructed to state legislative bodies as well as Con- three-hour session that marked the end of day to the election commission from City leave anything out of the report to the gress. The probationary period runs out at election administrator Richard Holden’s Attorney Herman Morris. commission. the end of February. probationary period. “The breadth of this error is still un- When Information Technology direc- Monger moved Wednesday to ask for Monger made public records requests known to us,” Morris wrote. “What we do tor Dennis Boyce was asked the question Holden’s resignation, the second time to assemble a chain of emails between know is that it is unacceptable and we still directly by election commissioner Dee such a motion has been made since Au- Holden and his staff as they tracked down await a full explanation and report on the Nollner, he said he no one told him to gust. He and fellow Democratic election the source of problems in the November number of incorrect ballots in the city’s leave anything out. commissioner Norma Lester, who made elections. November election.” “How do you expect him to answer the motion in August, said the problems The particular problem Monger Morris also complained that after that question,” Monger said. “If you think have not been remedied and public con- tracked involved voters in one split city- Memphis Mayor A C Wharton Jr.’s admin- that he’s going to sit here and say, ‘Yes, I’ve fidence in the election process in Shelby county precinct being given the wrong istration specifically complained about been told not to tell the election commis- County has been damaged. ballots because their addresses were the problems on the Nov. 6 Election Day, sion something’ – that is ludicrous.” “They don’t have confidence in us,” listed incorrectly as in the county outside “our staff had to appear at a public meet- “You’re essentially just saying that Mr. Lester said. “We owe the community some evidence that things are going to change … and that we can have success- ful elections.” Monger and Lester said they realized government the vote on Holden by the five-member body would probably break along party lines. It did with the three Republican commissioners voting down the action. City Looks to 1998 Demonstration as Guide “I do believe that people are trying their best,” Meyers said. “I do think that we are making progress although I think To Latest Ku Klux Klan Rally Request we have a long way to go. But I haven’t lost faith.”
BILL DRIES | The Memphis News an alternative to the Klan protest. “Shelby County’s the largest county (in Meanwhile, Memphis City Council the state) and we have the biggest prob- members this week pondered whether lems,” Nollner said. they should set more specific rules for Election commissioner Steve Stamson protests and demonstrations. agreed with Meyers. he planned Ku Klux Klan demon- “The balance is when an organization “He’s done what we asked him to do,” stration March 30 at the Shelby We’re going to be asks for a permit to march or organize he said of Holden. TCounty Courthouse is extremely vigilant in on city or county property, the (police) Holden said he and his staff are a demonstration inspired by the on- making sure that anyone director has the discretion to say you working through problems and have going controversy over a park named for who speaks out has the are not able to gather with your faces undergone more training since the August Confederate General, Ku Klux Klan Grand right to do so. But the covered or to carry concealed weapons,” elections because of the problems. Wizard and slave trader Nathan Bedford council member Harold Collins said as he One of the conditions on Holden’s primary obligation we have Forrest. “ explained why the council won’t set new probation was that the November 2012 And the past is dictating at least some as the city is to keep the rules in advance of the demonstration elections be conducted with no major of the city’s strategy for handling it. But peace for all citizens.” but will instead give Police Director Toney problems at the polls. it’s not the past of 150 years ago or even Armstrong more discretion. Morris, in his letter, said there were – Memphis Mayor, A C Wharton Jr. 50 years ago. It’s the past of 15 years ago, “He can set boundaries and areas of significant problems in November. when another Klan organization from separation. He can set up checkpoints “The city considers the SCEC’s lack of Indiana demonstrated on the same to search individuals,” Collins said. “He attention to precious votes to be unac- courthouse steps. crowd began climbing over barriers. can also request that a surety bond or a ceptable and it has not improved over the “We’re going to be extremely vigilant Some windows were broken at the deposit be made to offset the cost of extra course of time,” he wrote. “To the con- in making sure that anyone who speaks 100 North Main Building, a block away security and overtime for police officers. trary, the continuing lack of diligence to out has the right to do so. But the primary from the courthouse, in the melee that … That gives the director the discretion running an accurate election is extremely obligation we have as the city is to keep then-Memphis Police Director Walter and the authority to make those requests disconcerting in the face of recent elec- the peace for all citizens,” Memphis May- Winfrey later acknowledged police could without coming to the council for ap- tion issues and we note that the recent or A C Wharton Jr. said. “We know from have handled differently and better. proval.” audit findings by the Secretary of State 1998 that there was some property loss. Civil rights groups decided 15 years All of that is included in an ordinance concur with our observations.” We’ve learned from that and we’re going ago that there would be no alternative the council approved this week on the Morris is referring to an October to see that there’s not a repeat of that.” activity or counter-protest to the Klan first of three readings. The third and final report from the office of the Tennessee The Klan protest in 1998 ended with demonstration, opting instead for an ap- vote should be at the March 19 council Comptroller requested by Secretary of Memphis Police wading into the crowd of proach of ignoring the Klan presence. meeting. State Tre Hargett after the August elec- onlookers and spraying pepper gas to dis- Some of the groups admitted later the “Most of these are already in the ordi- tions. The report concluded the prob- perse a crowd that was a mix of onlook- approach backfired and left a vacuum nance,” Collins said. “These are just new lems weren’t intentional misconduct but ers and a loose confederation of counter filled by counter-protestors with other elements to spell out specifically what his “demonstrated an inability to conduct protestors who had separate plans and ideas about how to react to the Klan. responsibility is. It gives him latitude to elections without significant inaccuracies, agendas for showing up. This time, the Memphis branch of the make that decision within allowing the including those identified in the 2012 The police reacted as some in the NAACP is among the groups organizing permit.” elections.” www.thememphisnews.com February 22-28, 2013 15
government EARNINGS GTx Inc. Posts Net Loss For Quarter, Year
MICHAEL WADDELL | The Memphis News
emphis-based biopharmaceutical company GTx Inc. has reported net Mloss of $10.7 million for the fourth quarter ended Dec. 31 compared to a similar $10.7 million net loss in Q4 2011. The company continues its clinical trials for two new medications used in treatments involving lung and prostate cancer. In January, GTx received fast track designation from the U.S. Food and Drug Administration for enobosarm, a new drug in development for the prevention and treatment of muscle wasting in non-small cell lung cancer. “The FDA clearly recognizes muscle wasting in cancer patients as a serious and unmet medi- cal need,” said Dr. Mitchell Steiner, GTx chief Photo: Lance Murphey executive officer. Shelby County Commissioners hold a budget retreat Saturday, Feb. 23, in which they will begin looking at prelimi- He believes the new drug will increase a nary budget numbers for county government as a whole but especially for the first year of the Shelby County schools merger. Chairman Mike Ritz says no up or down vote will be taken on the schools budget numbers. patient’s quality of life while they fight their cancer, potentially better equip them to tolerate chemotherapy treatments for longer periods of time and delay their need for specialized services or hospice care. The FDA fast track designation should speed up the process for when the drug Budget Deliberations will be available for widespread use in the U.S. “Our market research suggests that our peak U.S. sales from enobosarm should be approxi- County Commission has plenty to discuss at budget retreat mately $750 million,” Steiner said. Two international Phase III clinical trials are BILL DRIES | The Memphis News now being conducted at 80 clinical sites in the U.S., Europe, Russia and South America. Approxi- mately 325 patients with Stage III or IV non-small cell lung cancer receive oral daily doses of pla- hen Shelby County Commis- proved a budget estimate for the ses- And they’ll come back and show some cebo or enobosarm 3 mg at the time they began sioners get together Satur- sion that asks for $145 million in new resolve to address some of those very standard first-line platinum doublet chemo- Wday, Feb. 23, at Memphis funding for the first merger budget. critical issues that were embraced in therapy. Steiner expects the trials to be finished City Schools Central Nutrition Center After Saturday’s retreat, the com- the recommendations of the transition by May, and top-line data should be available by for a county budget retreat, they will mission will review financial state- planning commission.” the fall. have a long menu of county financial ments from schools system leaders The planning commission recom- “Approximately 1.6 million people worldwide matters to review. and other data including audits of mended closing 20 under-utilized will be diagnosed with lung cancer this year, The item that is expected to get both school systems. All of that will be schools as well as outsourcing and the five-year survival rate for this diagnosis the most attention is county financ- part of the commission’s deliberations transportation and school custodial remains only approximately 50 percent, not with- ing of the first year of the consolidated on an overall county budget. services. The school board hasn’t voted standing the introduction of many new cancer school district. While it might be the “The agreement is that we’ll get yet on the outsourcing and is exploring treatments,” Steiner said. “About 85 percent of all most discussed item, it probably the (schools) budget to the County closing four schools by the start of the lung cancers are the non-small cell lung cancer won’t draw any kind of action or even Commission (later). We’ll set the tax merger. Ritz and Luttrell think extra type, making this disease the leading cause of endorsement or rejection from the rate and that will determine what the funding for the consolidated school death for both men and women.” commission. schools get,” Ritz said. “That will be system is possible but each says there GTx also initiated its fifth Phase II clinical “It will not be scheduled to be vot- the bottom line. I’m sure there will be are not nine votes – or the two-thirds study of Capesaris, a hormonal therapy to treat ed on – n-o-t,” said County Commis- pleas made by people from the schools majority – necessary to pass a county men with metastatic castration resistant prostate sion chairman Mike Ritz who worked during the hearings on the budget property tax hike of 10 percent or cancer. out ground rules for the budget retreat resolution and the tax votes. Whatever more. Even a 9.9 percent property tax The company reported a net loss of $27.1 mil- and beyond in a memo to leaders of we decide to do then the school board hike with a seven-vote majority on the lion for the year ended Dec. 31, which included the two school systems, countywide will redo their budget to reflect monies commission wouldn’t get the school a gain of $18.8 million from the sale of the rights school board chairman Billy Orgel, we appropriate.” system to the $65 million extra ask and certain assets related to Fareston 60 mg county commissioners and the county Even some school board members recommended by the staffs of both tablets, approved for the treatment of metastatic administration. “I don’t want to create who voted for the $145 million “ask” school systems. breast cancer in postmenopausal women in the a ping pong ball effect of running the don’t believe they will get that much in Half of the 9.9 percent property U.S. The company reported a net loss of $33.3 budget back and forth across the city new funding from the County Com- tax hike would go toward making up million for the year ended Dec. 31, 2011. between the two bodies.” mission. Add Shelby County Mayor what the county is expected to lose in GTx’s research and development expenses Ritz will not attend the morning Mark Luttrell to the group as well. revenues from the 2013 countywide for the quarter were $10.1 million, compared to session of several hours, which will “I think that $145 million figure property reappraisal for tax purposes. $8.9 million for the same quarter in 2011. For the be overseen by budget committee was a statement of frustration as And there is several million for a settle- year, research and development expenses totaled chairman Melvin Burgess. But his much as anything else after a very ment with the U.S. Justice Department $38.9 million, compared to $31.9 million in 2011. arrangement with the school systems lengthy school board meeting. I hope on Juvenile Court reforms and the cost At the close of 2012, GTx had cash and short-term that merge with the new fiscal year July the school board will go back and of the Shelby County Sheriff’s Office investments of $56.1 million, with no debt. 1 and school year that begins Aug. 5 re-evaluate its position,” Luttrell said. replacing Memphis Police Department General and administrative expenses for the is these are preliminary talks with no “I think the County Commission is officers in what are now city schools. quarter and year ended Dec. 31 were $2.9 million budget numbers considered firm. going to expect the school board to go Ritz’s estimate is without any pay and $10.8 million, respectively, compared to $3.1 The countywide school board ap- back and be a little more realistic. … raises for county employees. million and $12 million compared to 2011. 16 February 22-28, 2013 www.thememphisnews.com
special coverage
special edition: WOMEN & BUSINESS BREAKING THE MOLD Number of women entering commercial real estate industry growing
SARAH BAKER | The Memphis News cally male-dominated brokerage side of said. “It comes more naturally.” do for us. We don’t normally have that in the business. She didn’t stay in property Mary Sharp, chief financial officer of female conversations.” management, but yet that’s where many CB Richard Ellis Memphis, learned more In 2011, CREW Network formulated women in the commercial real estate about the ask during a speed networking a whitepaper called “Success and Satis- hen Rosemarie Fair industry remain. session at the Commercial Real Estate faction of Women in Commercial Real was named Bro- “It’s hard when the perception out Women national delegate conference Estate.” That study found that while gen- ker of the Year in there automatically is, ‘Oh gosh, you’re a held at The Peabody hotel on Jan. 31 and der disparity is prevalent, more women investment sales at woman? And you’re in commercial real Feb. 1. are entering commercial real estate as a last year’s Pinnacle estate?’” Fair said. “It may have been that Sharp is also president of the local career – 43 percent of women in the in- Awards, she became bad in the past, but it’s not so bad now. CREW chapter – a group of 20 women in dustry entered in 2010 versus 36 percent the first woman ever But you do have to do your homework, the commercial brokerage and related joining the industry in 2005. Wto do so. you cannot be unprepared when you take businesses that pass on deals to each Sharp said if young people coming Before Fair founded One Source Com- a call or make a call.” other – and plans on replicating what she out of school, both male and female, mercial Inc. in 1993, she worked with Fair said commercial deals are un- learned at the conference at CREW Mem- really understood the variety of careers Carlisle Corp. in the early 1980s on Beale doubtedly made through networking. phis’ February meeting. available in commercial real estate, there Street Landing Downtown. She remem- When the decision maker is the male and “You are supposed to come with your would be more women involved in vari- bers often what her mentor Gene Carlisle the commercial practitioner is another elevator speech to talk about what you ous aspects of the business. taught her – “Somebody will take care of male, those deals may be readily available do, what you want from other people and “For the trend to continue, those of the big stuff, it’s the nickels and dimes because of the network that men evolve how you can benefit them,” Sharp said. us already in the industry must educate that make the difference.” in. “There was a woman at my table who young women about the variety of roles Fair perfected that “attention to “Men – and I find that even in not-for- was involved in environmental work. She they could play in real estate industry and detail” mentality when she used property profits as well as in the profit world – it’s talked about how many states she did make sure they are given an opportunity management as a gateway to the histori- easier for them to make ‘the ask,’” Fair work in and what kind of work she could to develop their potential,” Sharp said.
Start With Trust®
When you see the Better Business Bureau Seal, it means that business has agreed to:
Tell the Whole Truth All policies are clear, with no hidden exceptions or fees. Keep Its Promises Whether a written contract or a verbal agreement, commitments are kept. Be Responsive Resolve any concerns in a timely manner. ® Start With Trust® bbb.org www.thememphisnews.com February 22-28, 2013 17
special coverage
down from fathers to not seeing such a difference other than sons. Finding (female) still in the ownership. I think women are candidates, frankly, for proving in many industry sectors that us has been hard be- their skills and their style are very much cause women don’t put needed in running and be a part of great it at the top of their list businesses.” as a career.” Patty Lycan of Gill Properties has been Mary Singer started a licensed broker for more than 30 years. her commercial real She started off in New York working for estate career out of developer M.D. Carlisle Realty Corp. necessity, managing When she moved to Memphis 15 years and leasing multifamily ago, Lycan called every mover and shaker units. With a small child that she could possibly find – all of whom at home, she went to the were men. University of Memphis “They were all very, very accommo- part time for her real dating to spend time to talk with me,” estate degree. Lycan said. “I remember David Peck Her first job was talking on the phone with me one night managing and leasing for two hours about the business, about a 200,000-square-foot Memphis. It took a long time, though, to shopping mall, and she actually get hired.” would go on to found Lycan has two pieces of advice for Commercial Realty women trying to break into the business Group in the late 1980s, in Memphis: look for a mentor and forget
Photo: Lance Murphey pioneering tenant repre- the notion that you can’t break into a Gail Ayers, CEO of CREW Network, speaks at a delegatemaps orientation at The Peabody hotel. CREW, a na- sentation in the Mem- “good ol’ boy club.” tional organization of women in commercial real estate, convened in Memphis this year to network. phis market. Singer said “Memphis is great being a second- or women are a lot more third-tier market,” Lycan said. “When I “This can happen through internships, responsibility through the years. focused on the whole first moved here, I looked for the Barnes targeted recruitment and mentorship But while more women are now enter- picture – children, community and the and Noble, the Border’s bookstore, the through the stages of their careers.” ing brokerage roles nationwide, Sharp things that involve collaboration. Starbucks – it wasn’t here for many, many Maps should follow the style shown below. The colors are in screensSharp, of the who Di xohasn been Hughes with CBRE blue for. Lo 18ca tionssaid the that pace need in Memphis is slower than “It’s very puzzling through the years years to come. So you can go into these years, got into real estate after going back other markets. to not see a lot more women leading other markets, see what the trends are to school once her kids were older. “Memphis is a traditional town and commercial real estate companies, but and see what’s applicable to our market. white circle; state boundaries are also shown in white. She worked her way up the ranks more traditional in its roles,” Sharp said. certainly the numbers have accelerated It makes it easier. You just have to be by taking on more and more corporate “In Memphis, a lot of it has been passed and will continue,” Singer said. “We’re astute.”
MeMPhis office
Partners , Dixon Hughes David B. Baggett Goodman team leaders Ali Sinkular, Layne McGuire, and Patricia Redmond can help. Gregory M. Bostian As a leader in the Firm’s colleges and universities practice, Ali Sinkular and her team P. Anthony Clark help identify opportunities and troubleshoot issues related to government regulations, Robert C. Davis operational efficiencies, student financial aid and accounting method changes. Buddy Dearman William M. Hope Layne McGuire and the Financial Institutions Services Group are well equipped to help Paul R. Hopkins you face the challenges of building market share, a sound credit culture, and strong internal controls, all while complying with the requirements of regulation, corporate Kenneth L. Johnson governance and financial reporting. Jorg Kaltwasser Jeffrey A. Kitterman Patricia Redmond and her team of accountants and QuickBooks ProAdvisors will John A. May work with you to identify existing and potential issues and implement timely and cost- Mark H. Nicolas effective solutions, from customer billing to month-end reconciliation. Alexandra L. Sinkular
dhgllp.com 999 S. Shady Grove Suite 400 Memphis, TN 38120 Ali sinkular Layne McGuire Patricia Redmond 901.761.3000 Practice Leader Practice Leader Practice Leader Colleges & Universities Financial Institutions Client Accounting Services [email protected]
national resources 18 February 22-28, 2013 www.thememphisnews.com
Before And SPECIAL EDITION: SMALL-BUSINESS SPOTLIGHT: WOMEN & BUSINESS After of Buying
When you spend several years selling, delivering and supporting a product or service, you naturally learn quite a bit about the logical questions someone should Malone Meets Challenges Head On ask when they are contemplating buying the product or service you are selling. For example, if you have sold used cars for SARAH BAKER | The Memphis News more than a decade, odds are you would do an absolutely fantastic job of questioning another used car eidre Malone describes the day salesperson and she resigned from her 10-year uncovering the tenure as a marketing executive most important D with ALSAC/St. Jude Children’s Research issues related to Hospital as the day she “walked out a typical used car on faith.” With a husband recovering transaction. With from a major surgery in a household chris cRouch your experience, concerned about health care, it wasn’t SMART STUFF you may or may exactly the perfect timing for Malone to 4 WORK not be a great become an entrepreneur. But after turn- seller of used cars ing 40, she knew that if she ever wanted – but I’ll bet you would be a great buyer of to realize her dream, she’d have to take Photo: Lance Murphey used cars. Hopefully, you would be both. the risk. For more than a decade now I, along with The Carter Malone Group includes, from left, Dawn Carter, Kandace Tuggle, Regina “I remember walking into the CEO’s Jones, Deidre Malone (front), Debra Davis, Anne Carter-Nelson, and Wiley Henry. my partner, have owned a company that office at ALSAC and he tried to talk me offers training and consulting services. In this out of it,” Malone said. “He said, ‘Deidre, “From a business standpoint, I’m He said, ‘Absolutely. Send me a con- article I will share a few “tricks of the trade,” so if you don’t want to run this division, very proud of the clients that we’ve been tract.’ From that point on, I’ve never re- to speak, and offer a few suggestions on what come work for me.’ I said, ‘No, that’s able to keep,” Malone said. “I’m proud duced my rates or my associate’s rates. I would ask about if I were on the other side not it. This was the best opportunity that we are sought out to partner with We’re pretty competitive with the larger of a transaction related to buying training and because it taught me how to really deal organizations that are outside of our agencies and I think you should be.” consulting services. with some adversity in terms of what it industry for work and that we get a lot Malone said oftentimes women Unlike used cars, it is not always easy would really be like in my own busi- of referral business, which speaks to the know that they’re capable of doing the to determine a lot of specifics when buying ness.’” quality of work that the associates here job and offering a quality service, but training and consulting services. However, That same day, Malone’s pas- at the firm provide.” seldom do they convey the self-confi- just because it is not easy, that does not tor invited her to lunch, unaware of Many of those clients have taught dence they should. mean you should ignore the specifics. As a her professional circumstances. He Malone valuable life lessons. Solidify- “Sometimes we’re just so grateful to matter of fact, finding out specifics is the informed her that The National Baptist ing COGIC, for instance, taught her get the opportunity, whereas our male main thing I would address with the potential Convention was coming to town and its that as a small-business owner, she had counterparts are very confident when seller. Being more specific, here is the main ministers wanted to hire Malone. to know the value that she brought to they’re obtaining that opportunity,” question I would ask a training professional or “He said, ‘I know you have a the table and ask for it. Malone scored Malone said. “More women have to consulting specialist: “What will I (or others full-time job, but we really need your that account after starting The Carter realize that you have the same educa- working for our organization) be able to do (or assistance with sponsorship and PR,’” Malone Group as a sole proprietor out tion, the same experience, the same do better) after spending time with you that Malone said. “He had no idea I had just of her Midtown home and then transi- organizational and thought process they cannot do now?” Here is another slightly resigned. That was kind of my sign that tioning into EmergeMemphis, the city’s as your male counterparts and you different version of the above question: it was the right thing to do.” business incubator. Working with Cyn- deserve to be there and to ask for what “What will I know (or know more about) after Malone founded The Carter Malone thia Norwood of alt.Consulting, Malone you’re worth.” spending time with you that I do not already Group LLC in 2003, a full-service public learned that reducing rates in order to Malone also stresses to women, know?” relations, marketing and advertising get clients in the door was the wrong especially those looking to open their Here is the follow-up question in both the firm. It was a year after she was elected methodology for a fledgling agency. own business, to be prepared. That’s above cases: “Why should that matter to me to the Shelby County Commission, “She said, ‘If you start out that way, why earlier this year, The Carter Malone and my organization?” where she served two four-year terms. then you’re not really getting the rev- Group held free symposiums about The National Baptist Convention enue that your firm should receive be- empowering entrepreneurs. If you can get clear and meaningful still uses The Carter Malone Group cause they’re not paying for what you’re “I want people to have a clear responses to these two questions, you can when it stops in Memphis. Other long- worth,’” Malone said. “(Meanwhile), the understanding that starting your own then move on to the less important details time clients The Carter Malone Group Church of God in Christ had asked for a business is not going to be the easiest related to the transaction. If you cannot get has retained in its 10 years in business proposal. I gave them a proposal and I thing at all in the world to do, but it can clear and meaningful responses to these include Saint Francis Hospital and The thought, ‘they’re never going to agree to be the most rewarding thing that you questions, caveat emptor! Treat the situation Church of God in Christ (COGIC). this.’ Bishop G.E. Patterson didn’t blink. could ever do,” Malone said. similar to a used car salesperson who seems reluctant to provide you with a legitimate vehicle history report or other details about the car you are considering. Everything about a training engagement should be built around the before/after premise. That is what training is all about. In a way, the before/after proposition defines whether or not training has really taken place. Once you are satisfied with the responses to these two questions, ask anything and everything you are remotely curious about. Then wrap up your exploration by asking, “Is there anything else related to this engagement that I should have asked, that I didn’t ask?” I used training as the example in this case because that’s what I do for a living. However, this same process and these same or similar questions will work quite well in many buying situations. www.thememphisnews.com February 22-28, 2013 19
special EDITION: WOMEN & BUSINESS Incentives Bring More Women Into Business Fold
JENNIFER A. JOHNSON | Special to The Memphis News
Funds available from Downtown Memphis Commission and EDGE help women launch their own companies
hen Kimberly Taylor decided to loans of up to $40,000, according to the hired. The DMC also will help storeowners launch her boutique K’PreSha, commission’s first quarter diversity report. improve their facades by offering matching Wshe considered East Memphis Many of those businesses are owned by funds. and Downtown. women and minorities. While Taylor said foot traffic on South Ultimately, she chose a location on Under the program, the loans are Main is still slower than she’d like, she South Main Street a few blocks south of forgivable and can become a grant if the remains optimistic about the future of the Beale. business stays open at least five years It’s not about quotas or area. Taylor said the $40,000 retail develop- and keeps regular hours. At the end of giving special treatment “It’s slowly getting better on this end,” ment loan she received through the Down- each year, the monthly loan payments are to women- and minority- she said. “I think in a year or so, it will be town Memphis Commission gave her the returned to the business owner if they have owned businesses. It’s really cool.” extra push to choose the Downtown site. met all the program’s requirements. about making sure everyone She’s hoping the new cupcake and The loan helped make a dent in the more While the retail development loan wine bar that is slated to open across the who is qualified has the than $100,000 in capital she estimated she program is on hold while the commission “ street will bring more foot traffic. needed to launch the clothing and acces- evaluates its economic development pro- opportunity to bid on the The Downtown Memphis Commission sories boutique in May 2011. grams, DMC president Paul Morris said all project.” isn’t the only source of funding for women- The roughly 1,500-square-foot store- the development programs are structured and minority-owned businesses. Paul Morris front needed rehabilitation, including to offer equal opportunities to all appli- President, Downtown Memphis Commission The city-county Economic Develop- installing bathrooms. Taylor said it would cants, including women- and minority- ment Growth Engine (EDGE) also actively have been a stretch to choose the South owned businesses. creates opportunities for women- and Main Historic Arts District locale without Any development projects that receive Memphis and create what Morris calls a minority-owned businesses by requiring the retail development loan. financial incentives from the commis- “vibrant Downtown” landscape. any business awarded tax incentives to “It was really the fact that they offered sion must commit to a best-faith effort “None of our programs are government commit 25 percent of its capital expendi- the incentives that it gave us a little edge to to achieve at least a 20 percent minority entitlements,” he said. “So if there is a deal tures to businesses that meet its diversity go Downtown,” she says. participation level. All of the commis- that doesn’t economically need our help, qualifications. More than 20 Downtown businesses sion’s programs are structured to stimulate we are not going to throw money at that Natasha Donerson, who sits on the have benefited from retail development economic development in Downtown type of project.” EDGE board, said that process ensures Morris said the commission also has that the bidding process is open to both actively worked to promote equal op- minority-owned businesses and women. portunities by making sure any business She also personally recently received a awarded incentives makes contractor op- $75,000 grant from the Delta Regional Au- portunities available to all qualified busi- thority to help women-owned businesses nesses regardless of race or gender. They grow and scale to meet market needs. also help women- and minority-owned “Very few women business owners ever businesses connect with other businesses make it to the $1 million mark,” she said. through networking. “When you can take a small business and “It’s not about quotas or giving special help it grow, you can have a bigger impact treatment to women- and minority-owned on the community.” businesses,” he said. “It’s about making Donerson said there are many re- sure everyone who is qualified has the op- sources available to women, but few that portunity to bid on the project.” specifically focus on the unique challenges Overton Electric has been doing commercial and industrial Many women- and minority-owned of women-owned businesses. That’s why installation and service since 1965. Licensed in TN, AR, businesses Downtown also have taken she launched a Memphis chapter of the advantage of the DMC’s facade improve- National Association of Women Business and MS and a Certified WBE – DBE. Overton has a ment matching grant and office incentive Owners. recognized reputation for giving sound advice and cost grants. The commission will pay up to half “It’s about knowing how to tell that effective solutions. of the tenant improvement costs for new story and putting together a plan to grow,” Downtown offices, a figure that is typically she said. “I wanted something that was COMMERCIAL SERVICE capped based on the number of employees only open to women.” INDUSTRIAL 24 HOURS/7DAYS New construction and Emergency Service Installations, Renovations Free Estimates and Expansions meeting all No job too big your electrical needs No job too small CEOs
OFFICE: 901.332.2013 What Keeps You Awake At Night? www.overtonelectric.com Vistage is a CEO peer group organization that puts local CEOs elbow‐to‐elbow to help each become a better leader, make better decisions, and achieve better results. Call for Free
Estimates Certified Woman Contact Bob Moore: 901.485.0585 – [email protected] Business Enterprise Visit: www.vistage.com 901.603.4698 20 February 22-28, 2013 www.thememphisnews.com
special EDITION: WOMEN & BUSINESS BLAZING A TRAIL Stephenson one of many leading way for women in Memphis business
ANDY MEEK | The Memphis News
usan Stephenson is one of the most Boatmen’s Bank of Tennessee, shows at accomplished and highly visible least a few recurring themes. Swomen in the Memphis business Her career contains the typical mixture community. She is the co-founder of of luck – being at the right place at the Independent Bank, the city’s second- right time – coupled with the initiative to largest bank as ranked by assets and one seize the day and the self-awareness to that largely steered clear of the mortgage know both what she’s capable of and how mess that dogged competitors during the much more she’s willing to learn.
financial bust. Stephenson will be the keynote speak- Photo: Lance Murphey She has served on the board of direc- er Feb. 28 at the Women and Business Susan Stephenson, president of Independent Bank, became the first femaleCE O of a tors of the Memphis branch of the Federal seminar hosted by The Daily News, sister Tennessee bank in 1995, when she was tapped to head Boatmen’s Bank. Reserve Bank of St. Louis. She’s a member publication of The Memphis News. Some of the Society of Entrepreneurs and she’s of those key elements of Stephenson’s “I’ve really been a ben- 2007 that generated $1.2 on the board of the Women’s Foundation career are what might resonate the most eficiary of some people trillion in revenue, up from for a Greater Memphis, among her myriad with attendees interested to hear about who have given me 5.4 million women-owned community involvements. what women face in the corporate world extraordinary opportuni- businesses in 1997. The Her long career began by accident. She in Memphis. They’re good takeaways, ties,” Stephenson said. Census’ 2012 numbers moved to Memphis after being certified to because while not every woman will end “And I know how very will be released next year, be a schoolteacher and through a conflu- up running a successful bank, they can fortunate I have been. I’ve which is when a picture ence of factors moved into banking. follow Stephenson’s lead of surrounding benefited enormously will emerge of how those An overview of her banking career, themselves with mentors, ignoring con- from all the women who totals of women business which included becoming the first female ventional wisdom and seizing the moment paid their dues for a long owners have been impact- CEO and chairwoman of a Tennessee bank when colleagues or superiors are willing to time before I ever came ed by the recession. in 1995, when she was tapped to head take a chance on them. onto the scene. I’m not Shante Avant, deputy only in their debt, because director of the Women’s they created a founda- Foundation for a Greater tion that let people see Memphis, said women women had the capacity Jill Steinberg was the first leadership “under-girds to do things, but I’m also leader of the formal women’s our work.” in their debt because the initiative at the Baker, Do- “Every year we recog- nelson law firm. world wasn’t ready for nize women leaders in a them to have the opportu- unique way,” Avant said. nities they created for me. “We have a Legends Award for women “There are some extraordinary women we recognize who’ve made extraordinary in leadership in our community in bank- commitments to the community to make ing. We have a lot of women who have it better. We honor those women by select- OTHERS TALK. been part of my journey through this com- ing a local woman artist who creates a munity, through this city.” one-of-a-kind piece of art in that legend’s Those are likely to be among the topics honor. And then we also choose a writer WE DELIVER. addressed at the newspaper’s seminar. who tells the story of the honoree and how Specializing in Commercial Window Treatments Women leaders representing a variety of the art was created.” fields will be represented on a panel of Companies from community banks Distributors for leading speakers. Besides Stephenson, the panel- to large multinationals have been mov- manufacturers ists will include Jackson Lewis attorney ing recently to promote women achieve- Solar roller shades Pamela Irons, CBIZ Women’s Advantage ment. Magna Bank, for example, recently Custom blinds national leader Nancy Mellard and Nata- promoted four executives – three of whom Plantation shutters sha Donerson, CEO of Success Unlimited. were women. Lisa Foley, executive vice The seminar is part of a regular slate of president of retail banking at Magna, ad- seminar events hosted by The Daily News dressed some of the strengths she thinks Large and Growing Inventory! for thought leaders, the business com- women have in the business world. We Will Stock Your Sizes! munity and the general public. The Feb. “In my opinion, you tend to see wom- 28 event will be held starting at 3:30 p.m. en in more detail-oriented and service in the Memphis Brooks Museum of Art roles than you do men,” she said. “Men are Auditorium. typically in more commercial, large real CBIZ MHM Thompson Dunavant, estate deals.” Mid-South Drug Testing and Jackson Lewis More broadly, she added: “You tend 2602 Faxon Ave • Memphis, TN 38112 LLP are the three companies sponsoring to see women work that much harder to 901-324-7733 the event, and a wine-and-cheese recep- get where they want to get. A lot of hours www.blindambitionllc.com tion with the speakers and panelists will spent to prove yourself. And obviously to follow the presentation. prove yourself, you’ve got to achieve the It will be a timely discussion. A new goals that were expected of you. Women survey from the National Association of just seem to dig in the trenches just a little Women Business Owners shows women harder.” entrepreneurs believe 2013 will see more Christian Brothers University is train- women become business owners than ing women for that very world. Hayley ever before. Census data also shows a Isaac, associate director of graduate busi- similar pattern. There were 7.8 million ness programs for Christian Brothers, said women-owned businesses in the U.S. in women are “never one-dimensional in the www.thememphisnews.com February 22-28, 2013 21
en in the legal field. One female partner at the country. Law firms at the time were a Memphis law firm said she speculates increasingly looking to set up such pro- that more women are recognizing that grams to develop women into leaders and large law firm life can be demanding in a to support them in becoming dealmakers way that impedes on the traditional view and help address issues like alternative of home life. Some accept that, while oth- work arrangements. To implement its own ers are opting for alternative legal careers. program, Baker Donelson carries out pro- The industry is not oblivious to the grams unique to specific offices. issue. Attorney Jill Steinberg was the first “The Nashville office might do a wine leader of the formal women’s initiative at and chocolate tasting to allow people to the law firm of Baker, Donelson, Bearman, network with other women business lead- Caldwell & Berkowitz PC. ers and women clients,” Steinberg said. “In the last few years the legal world, I “The Memphis office has (participated in think, sort of patted itself on the back and the) Viking Cooking School. And we invited thought we’d really broken through the our women clients to that event. New glass ceiling,” Steinberg said. “But you’re Orleans has their own program. beginning to see again published articles “Each office has a budget and their nationally about women lagging behind own committees to develop programs that Photo: Courtesy of Christian Brothers University in compensation and becoming equity are helpful and specific to their office.” Jenny Cowell is a marketing professor who teaches in the Master of Business Adminis- tration program at Christian Brothers University. partners and in being tagged as leaders in Beyond that, Baker Donelson has firm- their law firms.” wide things like a program called Baker business world.” and partners at the firm. Steinberg said when Baker Donel- Reads, a video-conference book club. “These ladies are balancing responsi- The career advancement line is not as son developed its women’s initiative, the All unique, separate programs, but all bilities at work, with family commitments, straight – or even as long – for many wom- firm studied similar programs around pushing toward the same goal. with charitable organizations, as well as school and other priorities for excelling professionally,” Isaac said. “One of the pillars of a CBU education is the mantra, ‘enter to learn, leave to serve.’ “With our program, students are encouraged to build relationships as they would in their work groups. Bringing a col- Todd Jo Michael Al Bobby Paul “Skip” John Danny laborative element to graduate business Dyson Farris Henry Hollingsworth Meeks Portis Curry Bozof education allows our students to excel and apply relational and analytical skills im- mediately in their professions. That focus carries forward into a broad range of com- panies in Memphis focusing on women.” At Memphis-based International Paper Lisa Linda Marv Lynn Herbert Lynda Charles Dan Co., Quinn Thompson – director of IP’s Meeks Wheeler Donnaud Alford Montgomery Savage Ricketts Kyle global diversity and talent acquisition – said the company’s diversity and inclusion efforts are sponsored from the very top of the organization. IP, she said, is intensely focused on both attracting women to the company and then making sure they’re Darlene James Matt Donna Debbie Tonya Milton Fred able to develop and grow within the orga- Drogmiller McDonnell Lawrence Schmidt McNeal Bancroft Less Headley nization once they’re on board. “So there are a couple of things we’ve done,” Thompson said. “Several years ago we started a women’s diversity forum, and that’s bringing a group of women together. We started out in our sales organization – they had a very limited number of women Marsha Amy insurance Maynard Jan Silverstein Winfrey Evensky Bounds in sales – so we started bringing those women together. And talked about what’s auto • business • health • life working for you, what’s not, and let’s share some things we have that are tools within clay & Wright • DonnauD-clay aviation the organization.” great south construction anD bonDs IP has other mentoring programs focused on bringing women from all levels Truman Jack aDDison & associates • Murphy & associates Tom George Sandlin Henry Church Edmiston together and helping them advance. CBIZ relatively recently launched its own professional development and networking program for women execu- tives in the firm’s Memphis office. Megan Murdock, client development manager at CBIZ, said 50 percent of the firm’s office Trey Jeff Kevin Joe Michael Josh Wilson Louis Clay Windsor Herman Smith Willins Winters Langston Clay is comprised of women. That program lets them know there’s a network for them within the firm and that there’s a support system for them. The umbrella term that encompasses a variety of CBIZ’s network- ing and other programs is its “Women’s Advantage” focus. Implemented in 2007, Mark A. Jeff Greg Stan Shirley Dusty Rodney Neal it was created in response to the need to Pinkston Michael Tate Addison Hudson Rhoads Murphy McConnico recruit, retain and advance more women in the field. Dixon Hughes Goodman has a similar program – a leadership initiative that is spurring the firm toward a goal of at- tracting, hiring and promoting women Connie Cary Alan Fred Jerry advancement through the firm. Not only Jones Murphy Doyle Tate Smith that, but that program is looking to grow 866 Ridgeway Loop, Suite 200 • Memphis, TN 38120 • Phone (901) 767-3600 • Toll-Free (800) 489-7668 • www.clayandland.com the number of women who are managers 22 February 22-28, 2013 www.thememphisnews.com
special EDITION: WOMEN & BUSINESS Seminar to Highlight Women’s Influence On t Business Community
ANDY MEEK | The Memphis News
Daily News-sponsored FOR MORE INFORMATION
event set for Thursday, EVENT: The Daily News Women & Business Seminar
Feb. 28, at Memphis WHEN: Feb. 28, 3:30 p.m.
Brooks Museum of Art WHERE: Memphis Brooks Museum of Art Auditorium
COST: acebook chief operating officer $25 registration fee Sheryl Sandberg, considered one of the most powerful women in busi- WEBSITE: F http://seminars.memphisdailynews.com ness in the U.S., has a new book coming out next month on issues women face in ADDITIONAL INFORMATION: the workplace. CBIZ networking event with Nancy Mellard In “Lean In,” the Facebook exec notes Feb. 27, 5:30 p.m. to 7:30 p.m. that although women long ago started Lexus of Memphis LaniganAlliedVanlines.com representing 50 percent of U.S. college graduates, men still hold most of the lead- women have a clear path of advancement ership positions in the public and private and career development opportunities. sectors. CBIZ recently launched its own She writes about why that is, and what professional development and network- women can do about it – which is among ing program for women executives in the the topics that will be discussed on Thurs- firm’s Memphis office. day, Feb. 28, at the latest in a series of Megan Murdock, client development seminars presented by The Daily News. manager at CBIZ, told The Daily News 50 The newspaper’s Women and Business percent of the firm’s office is comprised of Seminar, the first of six seminars this year women, and plenty of up-and-comers are for thought leaders, the business com- women, too. munity and the general public, will be That program lets them know there’s a held at 3:30 p.m. in the Memphis Brooks network for them within the firm and that Museum of Art Auditorium. there’s a support system for them. The event, sponsored by CBIZ MHM The umbrella term that encompasses Thompson Dunavant, Mid-South Drug a variety of CBIZ’s networking and other Testing and Jackson Lewis LLP, will fea- programs is its “Women’s Advantage” ture keynote speaker Susan Stephenson, focus. CEO and co-founder of Independent Implemented in 2007, it was created Come in and try some Bank and widely regarded as one of in response to the need to recruit, retain of our newest menu items the most influential and accomplished and advance more women in the field. women in business in Memphis. “One of the side effects to it has been The seminar will also include a panel that everybody is all across the company discussion with Jackson Lewis attorney in different roles, and it’s nice to see that Pamela Irons, CBIZ Women’s Advantage I have the same issues in marketing as national leader Nancy Mellard and Nata- maybe somebody does in audit or some- sha Donerson, CEO of Success Unlimited. body does in tax,” Murdock said. A wine and cheese reception with CBIZ’s Women’s Advantage provides the speakers and panelists will follow the women decision makers with access to presentation. a network of highly skilled, seasoned, Mellard will be in Memphis the day professional women to help with their before The Daily News seminar for a sepa- business needs. In its first few years in rate event, at which attendees will get to existence company-wide, the program mingle and network with other women in provided professional development pro- business over wine and hors d’oeuvres. grams for more than 700 women. That reception with Mellard and Murdock praised Mellard as an expert CBIZ will be held at Lexus of Memphis in the field, knowledgeable about things on Wednesday, Feb. 27, from 5:30 p.m. to like statistics on the accounting profes- 7:30 p.m. sion and on women in business. Attendees of The Daily News event “She’s well-versed on things like why can expect a broad look at the topic of it’s been proven when you have more women and business, including how than three women on a board it changes • companies like the CBIZ accounting the makeup of what decisions look like, firm are working internally to make sure and why that is,” Murdock said. www.thememphisnews.com February 22-28, 2013 23
news
EDUCATION
said. “Social workers are there to help provide services to families and counsel- ing support in those situations. And one of the fastest growing areas of social work is JONATHAN DEVIN | The Memphis News In Demand geriatric social work.” Neely-Barnes said that veterans return- ing from deployment face challenges re- wenty graduate students this spring It was also poorly turning to civilian life ranging from health will become the first to graduate timed considering grow- care needs to employment. Twith a Master of Social Work degree ing demand for profes- “The various branches of the military from the University of Memphis. sionals in the field. have hired social workers including civil- But even before they walk across the “Social work is one ian social workers,” Neely-Barnes said. “We stage, the students have already contrib- of the strongest growing had a recruiter from the Air Force stop by uted to the programs of agencies where professional fields in the recently wanting to recruit people to be they most likely will work. country and there cer- enlisted social workers.” “Even in the midst of the recession I tainly is great need in the Currently, 55 students are enrolled was counseling a student who had two Memphis area for social in the program and are required to do job offers, whether to go home to take a workers both at the BA 960 hours of service in the field. Each is job there or whether to take a job here in and the master’s level,” assigned to a community agency where Memphis,” said Dr. Susan Neely-Barnes, Soifer said. they are supervised by a staff member who coordinator of the Master of Social Work Employment of social holds an MSW degree. Photo: Lance Murphey program for the university’s social work workers is expected to The students gain valuable experience Melinda Menser, director of clinical services for SRVS, and department. “We have really good success Joy Steorts, a U of M Master in Social Work intern, work grow 25 percent between working with populations of people whom with students coming out of their intern- with Roger, a person supported by SRVS. 2010 and 2020, according they may have never encountered before. ships getting hired.” to the Bureau of Labor “There’s not too many people famil- In the 2012-2013 year alone, under- nessee, which decided to close its mas- Statistics. The master’s program is already iar with working with people with dis- graduate and master’s level social work ter’s program in Memphis due to budget the fastest growing master’s program at the abilities,” said Melinda Menser, director of students have contributed 53,000 of restrictions. UT made the decision to close university. That’s largely due to an increase clinical services at SRVS, a nonprofit that unpaid service hours to community agen- in 2009 and did so in 2011 after the gradua- in the number of people seeking social ser- provides residential treatment for people cies in and around Memphis. The hours tion of its last students. vices as a result of the economic recession with physical and developmental disabili- illustrate the fast-growing pace of a very “We ended up taking over the former and the aging Baby Boomer generation. ties. It’s about getting more people working young program. UT program,” said Dr. Steven Soifer, social “When people lose their jobs and bills in the field with people with disabilities. The U of M started the program in 2011 work department chair at the U of M. “It start piling up, it’s a terrible situation not (These internships) have really opened it in collaboration with the University of Ten- was a rather delicate situation.” only financially but emotionally,” Soifer up. We’ve hired a lot of the students.”
Home Owners in Memphis & Shelby County: You can appeal your property taxes. www.ShelbyTaxAppeal.com
Order Your Tax Kit Today to Receive: • FREE analysis of your property. • Recent comparable home sales including photos. Don’t miss • Neighborhood Profile Report providing an overview of all sales and the deadline foreclosure activity for your neighborhood over the past 4 years. • Foreclosure Effect Report showing possible negative impact of to appeal. foreclosures in your area. • Step-by-Step instructions for filing your appeal.
Call 901.458.6419 Powered by Chandler Reports Enter Coupon Code PRINT2 to save $5.00 www.chandlerreports.com 24 February 22-28, 2013 www.thememphisnews.com
sports
basketball Streaking Tigers Keeping
Fans on Their Toes DON WADE | Special to The Memphis News Win streak hits 17 as University of Memphis continues fending off Conference USA foes
n this era of University of Memphis to score 15 points and inject some of- times it’s trying to be too unselfish and basketball the home crowd is easily fensive energy into the team when things sometimes it’s trying to do too much.” Imade restless. So when a 7-point half- got sluggish. Pastner agrees with both points. One time lead over Houston went away early Yet even coach Josh Pastner, who of his favorite refrains is don’t try to hit in the second half as the Cougars tied the The Tigers are now 23-3 naturally praised Houston (4-8 in C-USA) a home run when a single will do. As for score 39-39, a community grumble rolled and while their turnovers and called this another “good win” and sometimes over-passing, Pastner said, “I’d through FedExForum. didn’t ultimately cost them the streak a difficult accomplishment – rather have that than the other way.” And later, when a 15-point lead “17 in a row, don’t take it for granted,” he Had Thomas scored at game’s end shrunk to a 6-point advantage with 56 against Houston, they said – spent about as much time bemoan- when he was under the Houston goal – on seconds to play – and again with 51 sec- could have. Remember, ing his team’s 19 turnovers, poor defense a pass from Crawford – then Crawford onds remaining – a small wave of panic the Tigers committed 22 and 3-of-14 shooting from 3-point range. would have finished with 11 points, 13 toured the building. turnovers that became “We were sloppy,” he said. rebounds and 10 assists (he ended up In the end, the No. 19/21-ranked 33 points in the loss to The Tigers are now 23-3 and while with 9) and Thomas would have had a Tigers finished off an 81-74 victory on their turnovers didn’t ultimately cost career-high in points at 24. But Pastner, Wednesday, Feb. 20, won their 17th in a VCU. And they had 24 them against Houston, they could have. not realizing Crawford was on the verge row, stayed unbeaten in Conference USA turnovers that translated Remember, the Tigers committed 22 of a triple-double and not wanting to run (12-0) and put themselves in position to into 29 points in the loss turnovers that became 33 points in the up the score, waved Thomas away from clinch the league title here Saturday, Feb. to Louisville. loss to VCU. And they had 24 turnovers the basket. 23, with a win over Southern Miss (10-2 in that translated into 29 points in the loss “I just did what coach said,” Thomas league play). to Louisville. said. “But the team’s getting on me, crack- Chris Crawford just missed a triple- “Most of it’s mental,” Thomas said of ing jokes. I apologized to Chris. I’ll have to double – more on that later – and Adonis the 19 miscues against Houston that be- buy him lunch the rest of the week.” Thomas led the Tigers’ scoring with 22 came 26 points; the Tigers scored just 10 The way Thomas is playing, team- points and Tarik Black came off the bench points off 11 Houston turnovers. “Some- mates probably will be happy to keep him
Williams Continuing Family’s Tennis Legacy
The other shoppers in the Rhyne’s father, Bob, played at Duke Mom said he had a poster of Roddick Knoxville grocery store probably don’t and still plays well enough to hit with hanging over his bed growing up; now, know who she is and certainly have no Rhyne. Sister Jennifer played at Division I Rhyne is a lot like a young Roddick. idea what she is doing. Birmingham-Southern College and sister “He wears his emotions on his Michelle DePalmer-Williams is, from Caitlyn is playing at UT now. Uncle Mike, sleeve; I love watching Rhyne play,” his all appearances, just another mom who was Top 30 on the ATP Tour, was Bo- mother said, noting she saw all his home THE PRESS BOX loading the cart with milk and bread and DON WADE ris Becker’s traveling coach. And cousin matches at UT and juniors matches that orange juice, checking her iPhone for Christopher Williams, another former took them to Europe and South America. text messages and emails. Racquet Club. “They don’t put pressure UT player and good friend, is Rhyne’s “He lets you know when he’s won a In truth, she is watching – and at on me, but maybe it’s in my head or I put current coach. point.” some level, playing – a tennis match. it on myself. Ranked 159th coming into the The family joke: He must get it from Maybe her 21-year-old son Rhyne is play- “They’ve all coached me, my whole Memphis tournament, Rhyne said: “My dad. ing a first-round match at the Australian family. My grandfather (Mike DePalmer ultimate dream is to be Top 50 in the “I was the Ice Princess,” Michelle said, Open or, most recently, winning his first Sr.) coached at Tennessee ... my mom, world.” although that’s not an accurate descrip- main ATP Tour match at the U.S. National my dad, my uncles, they were pros and What he doesn’t say: He never tion of her emotions now. “I think I’m his Indoor Championships at The Racquet coaches. It’s a huge tennis family and I’d achieved a Juniors ranking as high as his biggest fan. I tell him that all the time.” Club of Memphis. just rather do it on my own, I guess.” mother’s. Right back at you, mom, because Wherever he is, she is following every It’s a huge tennis family legacy. In the “I think he really wants to pass me up when Rhyne was asked how high she got point online and in the raw statistics 1970s, Williams’ grandfather DePalmer in the pros,” Michelle said with a laugh. in the rankings, he said, “She was like Top available to her – first-serve percentage, and Nick Bollettieri founded a tennis “We’re kind of a competitive family, but 80 in the world.” as one example – and getting a feel for academy in Florida – largely inspired by it’s all in good fun.” It’s an ever-so-slight embellishment, how he’s playing. It is as close as she’s the potential of young Michelle – and How competitive? Michelle used to just enough to remind that the son is going to get to seeing him play, at least today it’s known as IMG Academy and get down on the floor and try to match proud of what the mother accomplished for now. boasts alumni ranging from Andre Agassi her children push-up for push-up. even as he strives to make his own way. “I don’t really like my family to and Jim Courier to Serena and Venus Rhyne likes to say, “I haven’t done Don Wade’s column appears weekly in watch,” Williams, a two-time All-Ameri- Williams. anything yet,” but admits to modeling his The Daily News and The Memphis News. can at the University of Tennessee, said Michelle was an All-American at UT game – “big serve, big forehand” – after He and Jon Albright host the “Jon & Don after beating fellow American Steve and rose to No. 92 in the world until a the recently retired Andy Roddick, the Show” on Sports 56 AM and 87.7 FM from Johnson in a first-round match at The back injury aced her career at age 21. last American man to win a Grand Slam. 6 p.m. to 7 p.m. Tuesdays through Fridays. www.thememphisnews.com February 22-28, 2013 25
sports
filled up. He has now scored 17, 23 and 22 in his last three games and is making strong moves to either finish at the basket or create room for mid-range shots. “You can’t stop him full-speed like that,” Black said. Black perhaps stopped himself earlier in the season when he sat out the Nov. 29 game against UT Martin with what Pastner labeled an “internal matter.” Although he has typically played 15 to 20 minutes per game, he hasn’t started since the Bahamas trip early in the season. Asked if his performance against Hous- ton helped “validate” him, Black said: “Validation? It feels really good to get the win and do as well as I did.” Pastner also brushed aside a question about his team needing any validation. What it needs is the next win – the 18th in a row, against Southern Miss this Satur- day, and which would wrap up the league championship before the ever-nervous home crowd. “That would be special,” Black said. “But at the same time, we’re trying to win out, go 16-0.” The perfect way to say goodbye to C-USA.
Memphis guard Adonis Thomas (4) goes to the basket against Houston defenders during the Tigers’ 81-74 win Wednesday, Feb. 20, over the Cougars at FedExForum. AP Photo: Lance Murphey 26 February 22-28, 2013 www.thememphisnews.com
news
real estate & development Tax Could Hurt Local Real Estate
SARAH BAKER | The Memphis News actually selling. Is this going to change it? if we’re representing sellers or buyers, it’s and use the first sale's proceeds to buy it. Do we add money to every condo we sell something that needs to be addressed on The seller then postpones paying the tax. over $250,000? We have to be careful.” the front end so everybody’s aware of it. It Mark Halperin of Boyle Investment Co. The 3.8 percent tax comes after the is definitely very relevant.” agrees with the idea that it might influence hen investor/developer Phil top capital gain tax rate was permanently Johnny Lamberson of CB Richard Ellis the larger institutional type seller less than Woodard sells his warehouse increased from 15 percent to 20 percent Memphis’ investment sales division said it might affect the smaller, individually W at 138 St. Paul Ave. in the South under the American Taxpayer Relief Act of he hasn’t heard sellers suggest that they’re owned seller. But he said the tax is not go- Main Historic Arts District to nonprofit 2012. It results in an overall 23.8 percent not going to sell because of capital gains ing to affect Memphis any differently than ArtSpace this year for $850,000, he’ll be rate for higher-income taxpayers – a 58 yet, but it’s still early in the year. it would affect St. Louis or Phoenix. handing over $3,500 from his proceeds to percent increase from 2012 tax rates, ac- While no one wants to pay more taxes, What hurts Memphis more, Halperin the federal government. cording to the Qualified Intermediary firm he expects the new tax to affect the types said, is the city’s real estate taxes on com- That’s because as of Jan. 1, many Asset Preservation Inc. of purchasing entities involved in a par- mercial property. An office building here investors below the top tax bracket owe an “It’s definitely a pretty good dent,” said ticular deal differently. can have double the taxes of a comparable additional 3.8 percent Medicare surtax on Preston Thomas of Colliers International. “A lot of these folks quite honestly, property in Nashville. Boyle, a develop- passive investment income from interest, “You can sometimes have a gain in a especially the big boys, when they sell ment company that buys far more often dividends, rents and capital gains. The tax property without making money on it that something they’re going to go into a 1031 than sells, hasn’t yet felt the sting of this falls on individuals with an adjusted gross you have to pay tax on depending on what Exchange anyway, so they’re not going to year’s adjustments to capital gains. In the income above $200,000 and couples filing your basis is in it.” pay that tax,” Lamberson said. “Whereas if event that the firm does sell, Halperin said a joint return with more than $250,000. Thomas said the 3.8 percent on smaller it’s a private syndication or a partnership they’d try to raise the price to compensate Woodard bought the Class A ware- transactions wouldn’t be a big deal. But where this may be their only deal with no – if the market allowed it. house for $600,000 in 1999. Its 2012 county as larger transactions come around, it’s a plans of any future deals, then they’re the “The market determines the price, not appraisal was $436,800. substantial cost to the seller and buyer. ones that are going to be affected by that.” the taxes,” Halperin said. “It’s going to be “If you sell something now, it’s going to “The seller’s got to make up for it Also known as a tax deferred exchange, less net revenue for the seller. For some take a pinch,” Woodard said. “The way the somewhere, so they’re going to try to get a 1031 exchange can take place if an entity people, they may be reluctant to sell. As economy’s going now – the real estate was a higher price for the real estate,” Thomas sells an office building, for example, and taxes get higher, it can impede the veloc- just kicking in, people were starting to buy. said. “I don’t think it’ll help (the market). that entity is allowed in a certain time- ity of sales, depending on the individual The low-end and the high-end stuff was It just kind of is what it is. Depending on frame to go buy another office building circumstances of the seller.”
INKED J-Line Pump Growing Footprint in Collierville
SARAH BAKER | The Memphis News alty represented J-Line Pump in the purchase. The seller, based Ingersoll-Rand, is a residential and commercial Norcross, Ga.-based packaging firm Rock-Tenn Co., was heating, ventilation and air-conditioning systems pro- represented by the Colliers International industrial team vider. Trane also leases 625,875 square feet in Chickasaw of Andy Cates and Preston Thomas. Distribution Center Building E in Southeast Memphis. A local pumping equipment manufacturer is increas- Built in 1975, the manufacturing facility’s 2012 Shelby Tim Moore, vice president of leasing for Atlanta-based ing its presence in the Collierville market. County Assessor of Property’s appraisal was $1.8 million. Industrial Developments International Inc., handled the J-Line Pump Co., doing business as American-Marsh Mitchell said J-Line Pump has been interested in the renewal. Pumps, bought the 81,260-square-foot warehouse on 12.4 550 E. South St. property for a long time. The company acres at 550 E. South St. for $1.4 million. This will be in ad- even had a nearby 20,000-square-foot warehouse under And in other deals, after nearly 55 years at 1482 Madi- dition to the adjoining 110,000-square-foot warehouse at contract when the 81,260-square-foot one it ultimately son Ave. in Midtown, Tandy Leather Co. has moved its 185 Progress Road the company has occupied since 1999. acquired became available. Memphis retail location to the Shops of Wolflake at 2965 Jim Rea, J-Line Pump chief financial officer, said it’s “It’s contiguous to their property, so they were very N. Germantown Road in Bartlett. more space than the firm needs right away, but that its interested and excited about getting all of that property,” Tandy recently signed a lease for 2,460 square feet in projected growth will lead to a requirement of that much Mitchell said. “It worked out to be a good deal, but we the new location and opened earlier this month. space in the next two to three years. almost missed it. Twenty-thousand (square feet) wasn’t “We’ll miss Midtown, but we’re excited about our “Our growth has been a lot to do with the weather enough for what they really needed, so it worked out to be brand new store that is a little closer to our overall cus- condition – it’s been hot and dry for the last three or four a win-win situation.” tomer base,” said Tandy store manager Jo Keith. “The years, which is pushing farmers to irrigate,” Rea said. store is definitely bigger than our old location. It has en- “That’s one of our main pump lines is irrigation pumps. In other commercial real estate news, Florence & abled us to almost double our leather inventory and have And commodity prices remain strong – corn, cotton and Hutcheson Inc. leased 6,600 square feet of flex space in more leathercraft supplies and kits on-hand.” so forth, so that keeps the agriculture irrigation business DeSoto Farms Corporate Park, 6550 Interstate Blvd. in Tandy Leather Factory distributes premium leather going strong.” Horn Lake. The Paducah, Ky.-based engineering and supplies. The 94-year-old company has more In addition to that, Rea said there are now pumps that firm also has a location at 1989 Oaks Tree Cove than 100 locations worldwide. are being used in the “fracking” of gas and oil, resulting in in Hernando, as well as several others in the Dede Malmo, president of MalmoMemphis a demand for more pumps that J-Line Pump is “getting Southeast. Real Estate Inc., represented Tandy in the lease. geared up to produce.” Fracking is a form of drilling under David Peck, president of Peck Investment Brian Whaley of CB Richard Ellis Memphis rep- high pressure. Co., represented the tenant. Cates and Thom- resented the landlord, Tucker, Ga.-based Pref J-Line Pump bought American-Marsh in 2002. From as represented the landlord, 109 Madison. Wolflake Partners GP. 1975 to 1999, J-Line was located near Memphis Interna- tional Airport. The company has four other service centers Meanwhile, Trane U.S. Inc. has renewed Send commercial lease announcements – in Florida, Nebraska, Louisiana and California – but its 373,644-square-foot lease in Stateline to Sarah Baker, who can be reached at about 80 percent of the company’s operations are done in Business Park Building H, 1560 E. State- 521-2464 or sbaker@memphisdaily- Collierville. line Road in Southaven. news.com. Barbara Rea and Sam Mitchell with Keller Williams Re- Trane, a subsidiary of Dublin- www.thememphisnews.com February 22-28, 2013 27
news
Why Limit Your Company When Growth is Attainable?
When consulting with clients the region and drains your company of its for the product line and we have a product separates winners from losers is their abil- here in the Memphis area, we often have ability to thrive. line that makes sense to add this one to ity to creatively respond to every point of to deliver the bad news first. This bitter Moreover, when a company sees the it, thanks to distribution. This knee-jerk feedback and the ability to see opportunity pill usually comes in statistically modeled approach floods the market with junk and instead of fear. The mind-set of an organi- the form of a Sunset point at which they makes a market segment into a commod- zation makes all the difference. Analysis that details start burning cash it ity war. The question is why limit yourself? when the client’s is a telling moment. A few brave companies take such news There are several mid-market companies once market-leading Either they accept as a personal challenge to reinvent them- in the region that define themselves as products will be the facts or they selves, their product lines and the market manufacturers. In reality, they are branded costing more to don’t. Most often they serve. These rare birds dare to fly product companies. If they choose, they keep in production they enter a four- higher, take calculated risks, expect some could compete with global companies JOCELYN ATKINSON than generating & michael graber phase process of experimentation in the process and don’t such as L’Oreal, Proctor & Gamble and revenue. let’s grow accepting death and rush into playing copycat. others. Instead, they choose to make pass- Outside of the decline. They try and Instead of noticing what they can steal able products and place them on low-end region, we do not see this problem as argue, make excuses, and then realize that and adapt from the completion, they no- store shelves even though they are losing widespread. There is a sin of hope being they must change or die. tice the gaps in the mark that competitors market share rapidly. applied here again and again, as if one The change itself serves as a mirror do not offer. They notice trends in adjacent How are you going to respond? We say day history will revert and a company’s of the organization’s psyche. Too often industries. They work with consumers to let’s grow. flagship product will suddenly regain the a company facing a sunset of a major figure out the unmet need that may cre- Jocelyn Atkinson and Michael Graber sales and stature it once had when it was product line will force a me-too product ate a transformational opportunity in the run the Southern Growth Studio, a strategic relevant, innovative, and completion was in the market because it seems like easy market that will propel their growth. growth firm based in Memphis. Visit www. limited. This type of thinking depresses pickings. There is already proven demand We all get feedback every day. What southerngrowthstudio.com to learn more.
7601 U.S. 64 fixture filing Feb. 12 through First memphis, tn 38133 Tennessee Bank NA. David Harano signed the trust REAL ESTATE RECAP Loan Amount: $1.4 million deed as an authorized agent of G.I Loan Date: Jan. 29, 2013 Diagnostic and Therapeutic Rental, Maturity Date: Feb. 15, 2018 which bought the Class A property Borrower: FairCo 64 LLC for $824,986 in 2000 and developed Hand Family Files Loan Lender: INSOUTH Bank the facility the following year. Details: FairCo 64 LLC has filed a The medical office, which On Local Properties $1.4 million deed of trust through houses Gastro One’s GI diagnostics INSOUTH Bank for its strip retail and therapeutic endoscopy center, center at 7601 U.S. 64 in Northeast sits on 1.5 acres on Wolf Park Drive, ERIC SMITH | The Memphis News Memphis. just south of Wolf River Boulevard. The company filed the loan The assessor’s 2012 appraisal Jan. 29, with Cato Ellis Jr. and John was $2.3 million. S. Bomar signing the trust deed as members and Rosemarie Fair 6101 airline road signing the trust deed as managing arlington, TN 38002 member of FairCo 64. The owner bought the Loan Amount: $1.2 million 15,900-square-foot strip shopping Loan Date: Jan. 22, 2013 center in August 2007 from William Maturity Date: Jan. 7, 2028 A. Crum and Joan R. Crum for $1.4 Borrower: Pasture Investment Prop- million. erties LLC Built in 1996, the center sits on Lender: BancorpSouth Bank 1.38 acres on the south side of U.S. Details: The owner of the recently 64 east of Appling Way. The Shelby built Sonic drive-in restaurant 45 w.e.h. crump blvd. • memphis, TN 38106 County Assessor of Property’s 2012 at 6101 Airline Road in Arlington appraisal was $1.2 million. has filed a $1.2 million loan on the 45 w.e.h. Crump Blvd. property. memphis, TN 38106 1310 wolf park drive Pasture Investment Properties germantown, tn 38138 LLC filed the real estate deed of Loan Amount: $3.2 million trust Jan. 22 through BancorpSouth Loan Date: Feb. 4, 2013 Loan Amount: $9.4 million Bank. Patricia A. Solberg signed the Maturity Date: N/A Loan Date: Feb. 12, 2013 deed as partner of Solberg Proper- Borrower: The Hand Family Realty Co. LLC Maturity Date: N/A ties, a member of the borrowing Lender: JPMorgan Chase Bank NA Borrower: G.I Diagnostic and entity. Completed last year, the Details: The Hand Family Realty Co. LLC has filed a $3.2 million loan on its Memphis Therapeutic Rental Co. LLC 2,044-square-foot restaurant sits on portfolio, including the Anheuser-Busch distribution facility at 45 W. E.H. Crump Lender: First Tennessee Bank NA slightly less than an acre on the west Blvd. south of Downtown. Details: The owner of the side of Airline Road at its intersec- The Clarksville, Tenn.-based company filed the Tennessee deed of trust, as- 13,458-square-foot medical office tion with U.S. 70. The assessor’s 2012 signment of leases and rents, security agreement and fixture filing Feb. 4 through at 1310 Wolf Park Drive in German- appraisal was $527,600. JPMorgan Chase Bank NA. Charles W. Hand signed the trust deed as chief financial town has filed a $9.4 million loan on Pasture Investment Properties officer of the borrower. the property. received the property in a June 2011 The Hand Family Realty Co LLC, an affiliate of The Hand Family Beverage Co., G.I Diagnostic and Therapeu- quitclaim deed from Solberg Prop- bought the former D. Canale Beverages LLC property in 2010 for $4 million. Hand’s tic Rental Co. LLC filed the deed erties, a family-owned business that purchase of D. Canale, the city’s longtime Anheuser-Busch distributor, was an- of trust, assignment of rents and operates Sonic restaurants through- nounced prior to that property sale. leases, security agreement and out the area. 28 February 22-28, 2013 www.thememphisnews.com
Florida Boasts Memphis Law Talk Boat of a Case Ryder Up to Challenge If it looks like a boat and floats, it might not be a boat. So held the Supreme Court in mid-January. Fane Lozman was the owner of a house-like As Counsel for RNC plywood structure with French doors on three sides.
It consisted of a sitting room, bedroom, closet, RICHARD J. ALLEY | Special to The Memphis News bathroom, kitchen, stairway, and some office space upstairs. An “empty bilge space” below its main floor kept it afloat. From 2006-2009, Loz- man docked this item at a marina owned by the City of Riviera Beach. During this time, he lived in it and VIC FLEMING was party to a dockage I SWEAR agreement with the City. In 2007, the City enacted “new” rules, requiring houseboat owners to have a specified amount insurance, proper registration, and a new dockage agreement. From mid-’07 to early ’08, the City tried unsuc- cessfully to evict Lozman under state law. In April ’09, the City “arrested” the boat itself, commencing an in rem admiralty action, City of Riviera Beach v. That Certain Unnamed Gray, Two-Story Vessel Ap- proximately Fifty-Seven Feet in Length, in U.S. Dis- trict Court. Lozman’s pro-se motion to dismiss was rejected. The district court held that, for admiralty jurisdictional purposes, Lozman’s houseboat was a “trespassing vessel” on City property. Judgment for past due dockage fees of some $3,000, plus $1 for the trespassing, was entered against Lozman. The City bid the boat in at a judicial sale and then de- stroyed it. This action was upheld in the Court of Ap- peals, which said the floating home was a “vessel” because it was “capable of movement over water” RYDER and the owner’s I Swear Crossword subjective ohn Ryder of Harris Shelton Ha- the late ’80s, so I’ve got a history of with it provides a good base that Fleming’s weekly puzzle Page 34 intent to nover Walsh PLLC was recently involvement,” Ryder said. will come into play with his new ap- remain Jappointed general counsel of the He began his work with the na- pointment. moored Republican National Committee. tional committee in 1996 and served “I served on the standing com- “indefinitely” at a dock could not show the contrary. The appointment is subject to two four-year terms, was off for four mittee on rules for the RNC during The Supreme Court, 7-2, disagreed, siding with membership approval at the com- years, then served again beginning my service with the RNC beginning Lozman. mittee’s spring meeting in April. in 2008; he was the director of the in ’96, and I’ve been on the conven- tion rules committee in 2004 and Citing language from a Fifth Circuit case (“No As general counsel, a volun- Southern Republican Leadership teer position, Ryder will advise the Conference held in Memphis in 2008,” he said. doubt the three men in a tub would also fit within chairman, Ryan Reince Priebus, 2006. “A lot of what we do, for instance our definition [of a vessel], and one probably could and supervise the full-time legal This interest in politics began with presidential primaries, is rule- make a convincing case for Jonah inside the staff, which includes a chief coun- while a student at White Station based, so evaluating the rules and whale”), Justice Breyer wrote, “Not every float- sel, deputy counsel and an assis- High School and continued through having an understanding of the ing structure is a ‘vessel.’ To state the obvious, a tant. The committee’s redistricting Wabash College in Indiana where rules of the party is an important wooden washtub, a plastic dishpan, a swimming department also reports through he studied history and was involved part of the job.” platform on pontoons, a large fishing net, a door the office of chief counsel and has with the college Republicans and a Ryder has also served as Shelby taken off its hinges, or Pinocchio (when inside the its own lawyers on staff. libertarian group on campus. County delinquent tax attorney, whale) are not ‘vessels,’ even if they are ‘artificial Following the past presidential Regarding his passion for poli- Shelby County Home Rule Charter contrivances’ capable of floating, moving under tow, election, the chairman of the RNC tics, he said, “What’s intriguing Commission and currently is the and incidentally carrying even a fair-sized item or started the Growth and Opportu- about it to me is that this is the in- litigation counsel for Shelby County two when they do so.” nity Project. Ryder explained it as tersection of law and politics and Election Commission, a nonparti- The test the court came up with, Breyer ac- “a very systematic review of various that, to me, is a fascinating juncture san commission, and has defended knowledged, is general. A floating residence is not aspects of the party’s efforts and of two important institutions to a them in a number of election con- a vessel, he said, “unless a reasonable observer, image and messaging.” free society: the rule of law and the tests over the years. looking to the home’s physical characteristics and As part of the project, there are expression of the will of the people He also is a member of the Mem- activities, would consider it to be designed to any eight task forces reviewing different through the political process.” phis and Tennessee bar associa- practical degree for carrying people or things on elements, including two that Ryder Ryder attained his law degree tions, and the American Bankrupt- water. “But for the fact that it floats, nothing about will be a part of: presidential prima- from Vanderbilt University School cy Institute and Mid-South Com- Lozman’s home suggests that it was designed ries and campaign finance laws. of Law and returned to Memphis mercial Law Institute. to any practical degree to transport persons or Involved with Republican poli- in 1974 to work for the law firm of Married almost 40 years to things over water,” wrote Breyer, who was joined by tics for nearly four decades, Ryder is Canada, Russell & Turner. his high school sweetheart, Lain, Chief Justice Roberts and Justices Scalia, Thomas, more than qualified for the position A succession of Memphis law a teacher at St. Mary’s Episcopal Ginsburg, Alito, and Kagan. Justices Sotomayor and of general counsel. firms followed, including Laughlin, School, the couple has two daugh- Kennedy dissented. Sotomayor wrote that the ma- “I’ve done redistricting work Halle, Regan, Clark & Gibson before ters. The appointment as the RNC’s jority’s introduction of what a “reasonable observer” since the late ’70s and then I’ve going to work with Harris Shelton in general counsel will keep Ryder might glean from examining a craft muddies the is- been involved in various election 2000 where he focuses his practice busy and take him away fairly regu- sue. She’d call for “clear and predictable legal rules law matters and lectured on elec- on bankruptcy and commercial liti- larly with travel to and from Wash- for determining which ships are vessels.” tion law issues both for the bar as- gation. ington, he said, adding “It’s going to sociation and for the Republican Though election law is a diver- be an interesting, intellectual chal- National Lawyers Association since sion from his typical focus, his work lenge and I look forward to it.” www.thememphisnews.com February 22-28, 2013 29
Memphis STANDOUT Watt Tells Stories With a Paper Moon Touch
| ANDY MEEK The Memphis News From Yesterday.” Song,’” Watt said. “We know we’re going Watt, he knew them from high school “That’ll be premiering sometime this to be involved in a couple of other pro- and would always follow their progress. year,” Watt said. “We don’t know where ductions soon. We’ve got enough irons in “When they were working on a film yet, but that’s our new film. It’s a story the fire that I know we’ll have a couple of called ‘Daylight Fades’ and trying to omeone who didn’t know Ryan about basically how death is handled in productions going on this year.” raise funds, I got excited, because I was Watt can already tell a lot about a family in an older relationship, so ba- The company tends to focus on films looking for a new opportunity,” Watt Shim and his work by the title of the sically the story starts out with the lead with a Southern feel or that tell stories said. “I thought it might be a kind of one- Memphis-based production company character finding out his wife has passed related to the South, because the part- time thing. Produce this movie for six dedicated to producing at the beginning of the ners feel like mainstream companies and weeks and move on to whatever my next mostly local, Southern movie. And the rest of the mainstream media don’t tell those stories thing would be.” independent films he and movie takes you through often. His next thing turned out to be his a friend started in 2009. a very honest portrayal of The way the company pursues proj- main thing. The company is Paper what happens to people ects also sets them apart. For now, Paper Moon Films loves do- Moon Films, and it har- when they go through “We do things maybe a little differ- ing what it can in Memphis and not nec- kens back to a golden age that process. ently than some other producers,” Watt essarily worrying about tax incentives or of entertainment, when “It’s a pretty intense said. “We don’t think up ideas for proj- similar extras. paper moon photo back- film, but something we ects. Instead, we’re basically looking to “Because of our lower levels of bud- drops were en vogue. think a lot of people can partner with really talented artists. So, get so far, things like tax incentives – Late last year, Watt’s relate to.” we will see something a filmmaker has we’re not into that tier where they make production company Watt’s business part- made, maybe somewhere like the Indie a difference for us,” Watt said. “The other started work on its fourth ner’s is Nick Case. The Memphis Film Festival. thing is, it’s great to film here, because feature film, “Forty Years first movie they pro- It’s more about trying to create a you can almost film anywhere. Everyone From Yesterday.” The WATT duced was “Open Five,” long-term relationship with directors here is really easy to work with. The Film film was shot over several which The New Yorker who have tons of talent and who, if Commission. The police department. weeks in California. Also listed as among the “Top they’re given just a little more of an op- Things like that are hard to do in L.A. late last year, Paper Moon’s third feature 25 Films in 2010.” portunity, a little bit more of a budget to or New York. You can shoot almost any- film “The Romance of Loneliness” – stars After forming the company, the part- work with and help with a production, where here. Also, with the way cameras of which include Memphis music scene ners had a kickoff fundraising event at they could potentially rise to do some are these days and the way technology veteran Amy LaVere – got its Memphis Minglewood Hall, did some online fun- great things.” is, it’s so affordable that you can really premier at the Malco Paradiso. draisers and “Open Five” was their first Before starting Paper Moon Films, rent some amazing cameras. You don’t Watt said post-production is wrap- project. Watt was involved with a venture called really need to be next to a big industry, ping up now and the company is finish- “Since then, we’ve done ‘The Ro- Old School Pictures. The people behind necessarily. It’s just a matter of finding ing up the sound work for “Forty Years mance of Loneliness’ and then ‘Pilgrim that group grew up in Germantown, like the right people.”
THE COMMUNITY SEMINAR 2013 SERIES OF Mark your calendar for a series of informational VOICE business seminars hosted by The Daily News and The Memphis News. MEMPHIS FEBRUARY 28 WOMEN & BUSINESS MEMPHIS THIS MORNING APRIL 4 with CHRIS WADE HEALTH CARE REFORM Monday – Friday 6:00 am – 8:00 am JUNE 6 MONEY & MARKETS: STATE OF THE LISTEN LIVE Start your day right with Chris Wade! He has you covered from kwam990.com ECONOMY traffic on the 9's, weather from Channel 3's Todd Demers, all the way to the latest local and national news from CBS....Plus, AUGUST 8 good news from "Inside Memphis", Market Watch, Consumer HR RULES & LEGAL RAMIFICATIONS Reports, Charles Osgood, and more! On air, on line, and on SEPTEMBER 19 target with Memphis. HEALTH CARE: STATE OF THE INDUSTRY NOVEMBER 7 COMMERCIAL REAL ESTATE REVIEW AND FORECAST
For information on the seminars or sponsorship opportunities, please contact Don Fancher at 901-528-5283 or [email protected]. OWN YOUR OWN SHOW Have a passion & want to share it with the Mid-South? Call us @ 901.261.4200 ext. 228. 30 February 22-28, 2013 www.thememphisnews.com
Marketing Memphis NEWSMAKERS Strategies Spence Named VP at Riverfront Corp.
To Avoid KATE SIMONE | The Memphis News
Marketing opportunities change so rapidly these days that it can be tough to keep up. If you’re unsure whether your brand is set- Dorchelle T. Spence has been promoted to vice president at River- ting the pace or falling behind, take a look at the front Development Corp. Spence will assume broader organizational re- following top 10 marketing strategies to avoid sponsibilities to focus on providing strategic direction in addition to mar- in 2013. keting, public relations, advertising and other duties.
1. Gaming online customer review sites Education and work experience: Corp.? When fully realized, the vision by posing as a customer and uploading over- Master of Business Administration, of the RDC has the potential to sub- the-top comments is never a sound strategy. the University of Memphis. Worked stantially impact our city’s waterfront Both review sites and SPENCE with Riverfront Development Corp. for generations. I wanted to be a part customers are getting since 2001; previously worked in the of a legacy so positive and lasting that savvier. If your scores Forrest Cunningham has communications and community rela- it increases the quality of life for ev- are unnaturally high, been named Central Defense tions offices of the Memphis Redbirds eryone in our community. customers will distrust Security’s 2012 Officer of the Baseball Foundation, Baptist Memori- what they’re reading. Year. Cunningham is an un- al Health Care Corp., First Tennessee What do you consider your great- Plus, review sites are armed officer for CDS and is Bank and Girls Inc. of Memphis. est accomplishment? Professionally, incorporating systems stationed at The Monarch in I’m most proud of helping bring the to catch inauthentic East Memphis. Family: Married with an 11-year-old Beale Street Landing project to frui- Lori turner- posts. daughter and three young adult step- tion. What began as an international wilson 2. Spurious growth Jon Van Hoozer has been sons. design competition in 2003 will be- guerrilla sales awarded the Boys & Girls Clubs come a world-class riverfront amenity and marketing of social media follow- ers is a waste. Electing of Greater Memphis 2013 Man What talent do you wish you had? I in 2014. It hasn’t been an easy jour- to inorganically grow your brand’s Twitter fol- & Youth Award. Van Hoozer, a really wish I could sing. ney, but seeing the public’s reaction – lowers by following everyone under the sun with senior vice president of Finan- even in its unfinished condition – has cial Federal’s commercial/mul- the hopes they’ll like your brand in return does Who has had the greatest influence made the journey worth traveling. tifamily division, has been in- not make for a winning strategy. Your messag- on you? God has placed so many spe- volved with the Bernal E. Smith ing will be lost on a follower base that likely has cial people in my life to guide and di- If you could give one piece of ad- Boys & Girls Clubs for 10 years, little interest in your offering. Savvy marketers rect me. I am grateful for each of them vice to young people, what would it serving repeat terms as board monitor engagement and the percentage of individually and collectively. be? Your past does not define your fu- chair. followers converting to buyers versus just total ture. Dream … believe … work and you followers. What attracted you to Riverfront can achieve anything you desire. Ed Gibbons has joined Sig- 3. Generally, the purchase of email lists does nature Advertising as vice pres- not pay off. Not only are there CAN-SPAM com- ident of business development, pliance guidelines to contend with, but these Tino Acchiardo has joined as an lists are typically highly inaccurate, generating a account manager, and Tag Gra- low response rate from your email campaign. ham has joined as vice presi- 4. Don’t count on keywords coded into your dent of marketing. website as the primary driver of new search “There are over 1 million traffic. Search-engine algorithms now consider Vandana Peterson has much more with a particular eye for consumer joined the Memphis office of colorectal cancer survivors engagement – articles, social media sharing, Jackson Lewis LLP as associate. in the Unites States. This blog posts and online reviews by consumers Peterson has served as an assis- about your brand. tant dean and adjunct professor disease is preventable. Let’s 5. Stop using social media channels to sim- at the University of Alabama beat this thing!” ply broadcast your promotional messages. It’s a School of Law and as an asso- turnoff to the social media community. Instead, ciate in Clifford Chance LLP’s do a lot more listening and development of on- Charles Kelley corporate finance and restruc- Member of Lady Antebellum line conversations, as well as providing content turing groups. for which your fans and followers are hungry. 6. Don’t rely exclusively on feelings and Michael Maloney has joined experience to determine where to spend your Mid-South Community Col- Scan to watch this marketing dollars. Validate your strategies lege as director of business and exclusive video! through research, analytics and statistics. industry services. Maloney will Learn why 7. Be careful not to focus more on new also serve as machining pro- this fi ght is business than you do on customer retention, as gram coordinator and machin- personal for that’s an expensive proposition. ing instructor. Charles Kelley. 8. Selling directly to consumers is often in- finitely more expensive than establishing sound Todd Poley has joined ge- referral relationships. Consider establishing a netics diagnostics company strong referral management strategy. Transnetyx as marketing man- 9. Stop waiting for people to like your Face- ager, Jessica Janeczek has been book page or follow you on Twitter just because appointed Southeastern sales you ask them. Offer an incentive – such as manager, and Libby Costello special discounts, only available through social has been named regional ac- count specialist. media channels, or interesting, unique content. SHARE YOUR STORY. SPREAD AWARENESS. SAVE LIVES. 10. Don’t design a beautiful new website only to neglect to develop a mobile-friendly ver- The Greater Memphis Did you know colorectal cancer is the second most common cause of sion of it. About 20 percent of online users to- Chamber communications and programming team has cancer deaths among men and women? 60% of deaths could have day are accessing the Web via a mobile device. JOIN been prevented through screening. been awarded three Mid-South Lori Turner-Wilson is an award-winning col- Emmy Awards in the writing, Learn the facts. umnist and managing partner of RedRover Sales Take the pledge. Now is your chance to make a editing and arts categories for difference in someone’s life. & Marketing, www.redrovercompany.com. “The Soundtrack Project,” eight documentary shorts about FIGHTCOLORECTALCANCER.ORG | TOLL-FREE 1-877-427-2111 Memphis entrepreneurialism. www.thememphisnews.com February 22-28, 2013 31
GOVERNMENT Tax Zone Issue Heads to Nashville
BILL DRIES | The Memphis News finance the fairgrounds improvements, which include retail and residential on the Central he Tourism Development Zone that Avenue northern side of Memphis officials will seek in Nash- the property. Tville over the next three months “Once we declare the would generate tax revenue from Cooper- TDZ there will be other Young, the Midtown Union Avenue corri- projects coming on line, dor and Overton Square for the redevelop- whether it’s parking in ment of the Mid-South Fairgrounds. Cooper-Young, which But the sales tax revenue captured also is needed, whether it’s would be used long term for other areas bringing to completion within the zone, including the Beltline the project over in Over- neighborhood east of the fairgrounds, Or- ton Square,” Wharton ange Mound, Cooper-Young and Overton said. “The money will Square. be spent within the TDZ Memphis City Council members gave but the initial project is their formal blessing Tuesday, Feb. 19, the fairgrounds. You set to starting the TDZ application process. a budget for each of the They also got a look at the developing projects within the TDZ.” Memphis Daily News File Photo: Lance Murphey Lipscomb said the fairgrounds plan Memphis Mayor A C The Tourism Development Zone Memphis officials will seek in Nashville over the next three months Wharton Jr. says is on the way to the coun- would generate tax revenue for the redevelopment of the Mid-South Fairgrounds. idea also is to use the cil soon. sales tax revenue to lever- The developing plan includes demoli- experience with the Tourism Develop- the qualified public use facility. But you try age private investment in tion of the Mid-South Coliseum to make ment Zone financing of the Bass Pro Shops to maximize that.” the residential neighborhoods around the way for a “sports complex” by the southern adaptive reuse of The Pyramid. The borders of the TDZ are North Park- fairgrounds, “improve Beltline and go as border of the fairgrounds and a possible “You have a baseline and once they way on the north, Belvedere Boulevard on far into Orange Mound as we can.” improvement of the McDonald’s restau- establish a baseline, any incremental sales the west, Southern Avenue on the south Lipscomb added the city is talking with rant on the other side of East Parkway. taxes will come back to the city as opposed and Hollywood and Tillman streets to the former pro baseball player and broad- City Community and Housing Devel- to going to the state,” Lipscomb said. “Any east. caster Tim McCarver as well as NBA player opment division director Robert Lipscomb sales taxes over and above the baseline will “It’s all about getting resources,” Lip- Thaddeus Young about the sports complex said the TDZ application could be submit- come back to this project and come back scomb said as he talked of a projected 6.5 where the coliseum now stands. ted to the state building commission in to the city. percent debt service rate from the zone. He acknowledged the complex might Nashville by April and estimated the pro- “It allows you to gerrymander a little “If we don’t have the resources to do it, it’s cause the three football tenants of Liberty cess of getting the zone would take about bit so that you capture the most … sales worthless.” Bowl Memorial Stadium some concern three months. tax dollars,” he said. “That allows us to Wharton said the sales tax revenue because it will mean eliminating some The estimate is based on the city’s capture the most dollars. It’s a mile from from the area would be used at first to parking in that area
LAW & THE COURTS Robilio Celebrates 30 Years on the Bench
ANDY MEEK | The Memphis News more thought and went through a few six months prosecuting, six months run- term expires. Robilio praised the “ex- more options before deciding to take the ning for office.” tremely competent professional support” Law School Admissions Test. Robilio moved to Shelby County Circuit around her, including administrative as- “I never anticipated I’d go on the bench Court in 1990, where she current presides. sistants, interns, and her law student who helby County Circuit Court Judge originally,” Robilio said. “I had no plans to She also was the first woman to be elected assists with research. Kay Robilio once told The Daily leave labor law. I liked it. And then after and serve a full term in Circuit Court. “I’ve enjoyed just about everything SNews the thing she’s most proud of that, I just happened to be at a particular She’s not made a decision yet if she’ll about being a judge,” she said. “I’ve really in her professional life is never having an place at a particular time.” pursue another term when her current appreciated the opportunity to serve.” opponent since she’s taken office. She started out in private practice, say- In her personal life, she pointed to her ing, it was “my first opportunity to practice more than 50-year marriage to her hus- law, and it was terribly exciting.” DELTA STATE UNIVERSITY BOLIVAR COUNTY JAMES M. EWING HALL band, Victor. Fellow attorneys there welcomed her 1003 W Sunflower Rd MISSISSIPPI She recounts memories with ease and into the fold, saying it was a great time to AUCTION Cleveland, MS 38733 takes obvious pleasure in talking about any come on board. Work was light at the time, aspect of her long career on the bench – a so there wouldn’t be much pressure. EXCELLENT IRRIGATED CROPLAND career that reached a notable milestone Robilio found the work exciting, any- TH PM CST this year. Robilio, who graduated from way. There were several corporate clients APRIL 11 1:00 PM CST law school in 1980 and already was on on retainer. She did some traveling for the INSPECTIONS: MARCH 4 & 25 • 1:00-4:00 the bench three years later as a City Court firm, did plenty of research, and when 7.5 miles southwest judge, celebrates 30 years as a judge this the work died down, another opportunity +/- ACRES of Cleveland, MS year. presented itself. and 3 miles west of Hwy 61 Early on, she didn’t envision herself in She heard about an opening in the city 3,627 16 TRACTS a black robe. But circumstances along the prosecutor’s office, a job she ended up tak- way presented themselves, and the woman ing. She was there about six months, and who admittedly was happy first in private then decided to run for elected office. HLS #PJK-11082 OWNER: practice seized an opportunity – and never “I’d never been active politically before, 800.424.2324 MID-DELTA FARMS, LLC contact: looked back. in any way,” she said. “I discussed it with Steve Brunson 901.850.5303 She started out wanting to be a writer. my family. I was informed if I wished to do Auctioneer: William Head, MS Auct. Lic. #892 2% Buyer’s Premium Head Auctions & Realty Auct. Lic. #19794 Added onto the High Bid www.landmanagementgroup.net She graduated with a liberal arts degree in this that I had to take a six-month leave of ONLINE BIDDING & VISUAL TOUR: www.halderman.com Steve Brunson II, Real Estate Lic. #11606 French and English. Then she gave it some absence. So, it was six months labor law, 32 February 22-28, 2013 www.thememphisnews.com
HEALTH CARE & BIOTECH REAL ESTATE & DEVELOPMENT
A new bar called The Mad MERI, Fire Earl is planned next to The Brass Door on Dept. Aid With Madison Ave- nue Downtown. A Madison Disaster Relief Avenue alliance has formed to try to draw MICHAEL WADDELL | The Memphis News more attention to the area.
he Medical Education & Research Institute (MERI) and the Memphis TFire Department are working with local long-term care nursing and other direct care staff to care for the elderly in the event of fire, tornado and flood-relat- ed emergencies. On Thursday, Feb. 21, the Mem- phis Jewish Home & Rehab in Cordova welcomed the team for a training session and disaster drill focusing on tornado- related emergency protocols. Photo: Lance Murphey “This training gives the staff a chance to practice working with their own equip- ment to make sure everyone is comfort- able with the process because you want it to be routine when you actually have a Maximizing Madison disaster,” said Diana Kelly, MERI manager of institutional development. Stakeholders look to restore Madison Avenue as Downtown destination Kelly and Lt. Jim Logan of the Mem- phis Fire Department led the session, which was funded from grants received SARAH BAKER | The Memphis News ers from the U of M law school, Madison Downstairs will be a giant game room in 2012 from the H. W. Durham Foun- Hotel, Federal Bakery Building, Goodwyn with pool and pingpong tables, dart and dation and the Assisi Foundation of Institute LLC, Thai Bistro, The Brass Door, shuffle boards and the Golden Tee Golf Memphis. First Tennessee Bank, Visible Music College video game. Upstairs will have up to eight “In a crisis situation, emergency he Downtown strip of Madison and Fogelman YMCA. flat-screen TVs and a full sports package. services may take a little while to arrive Avenue from the University of “I’m trying to have an alliance of peo- “The idea is to keep everything as on the scene,” Logan said. “Places like TMemphis Cecil C. Humphreys ple who, really if you add it all up together bare minimum as possible so that I can this need to be self-sufficient for at least School of Law to Fielder Square Apart- spent $100 million in investment,” Crosby offer beer and food at a price that the law a short amount of time, knowing to turn ments in its prime was the city’s finan- said. “That is a lot of resources, investment students can enjoy,” Shelton said. “Twenty off gas and electricity and getting patients cial hub. and hope for the city. It creates jobs, eco- years down the line when they come back down to where they can be transported.” It’s seen some successes in recent nomic stability and a livable Downtown. for their alumni thing, I want them to say, The idea for the training came about times – new businesses opening, build- Given all of the good that can come out ‘Oh! We’ve got to go by The Mad Earl and following local flooding in May 2011, ing renovations and the removal of the of that little stretch of Downtown, that’s have a beer and a sandwich.’” which resulted in the evacuation of makeshift wall at Main and Second worthy of emphasis.” The Mad Earl’s primary dish will be a several nursing home facilities, as well streets that interrupted traffic for two The Madison Avenue Alliance is work- rendition of Chicago’s famous hot Ital- as Hurricane Katrina in New Orleans in years. ing on getting significant street lighting to ian beef sandwich. The pub will also have August 2005. Now, a group called the Madison line the street on both sides from the law variations of chicken sandwiches from MERI provided human patient Avenue Alliance has its sights set on school east to Fielder Square. jerk to Parmesan, as well as egg and grilled simulators (instead of using the elderly continuing that momentum and bring- Crosby said he’s “got to move a lot of cheeses served on thick Texas toast. patients) to train all levels of nursing per- ing the street back to its destination balls forward,” including getting “the right “The goal is to have these coming out sonnel including preparation, response heyday. voices to the city and see what can hap- within two minutes of somebody ordering and relief skills to ensure residents Scott J. Crosby, attorney with Burch, pen.” it,” Shelton said. receive the highest quality of care before, Porter & Johnson PLLC and investor “There’s a lot of good ideas that are The Mad Earl plans to open on St. during and after disasters. Hands-on in The Brass Door, is spearheading the happening in Memphis, and we hope just Patrick’s Day. Last year during The Brass training is most often not an option due effort for anyone who owns or leases to be one of them,” Crosby said. “We’re Door’s celebration of the Irish holiday, to the fragility and safety concerns of property along the corridor. competing with other areas in Memphis 1,000 people filled the Madison block that facility residents. The first meeting had stakehold- like Overton Square and Cooper-Young it sits on. who we want to do well. I think also to And that’s exactly what Loftus wants compete, we need to give a varying type to see more of – street activation. He came of place for people to come and enjoy an to Memphis from Ballina, County Mayo, evening.” Ireland, in his 20s to play soccer. Now 45, One of the new ideas coming to the Loftus lives here completely out of choice. Downtown Madison strip is The Mad Earl “Anybody who’s in the bar business – a companion piece to The Brass Door, will tell you that one bar is enough,” Loftus an Irish pub that opened at 152 Madison said. “The Earl is going to be the next Ave. in August 2011. The 1,600-square-foot step for us as a company and as a bunch space at 150 Madison will have the same of interested people to make Memphis a investment group as The Brass Door – greater city and a more pedestrian-friend- Crosby along with his wife, Meg Crosby, lier city. We believe in Madison Avenue, we and Seamus Loftus – but will be run by believe in the project, and we want to see restaurant veteran Clay Shelton. this street come back to life.” The English-themed sports bar/ Meanwhile, Charles “Buddy” Dickey pub will be geared toward a “funkier and of Landmark Community Bank is in the younger crowd” and serve inexpensive midst of renovating the four-story Fed- sandwiches and salads. It’ll also allow eral Bakery Building at 119 Madison for smoking and be open until 3 a.m. on the personal office use along with Phil Trenary, weekends. Bill Nixon and Jeff Germany. Also promis- “We went with The Mad Earl because ing for Madison is its eastbound develop- the Earl of Sandwich, Madison Avenue – it’s ment with a few buildings seeing new life. going to be a lot of fun,” Shelton said. www.thememphisnews.com February 22-28, 2013 33
entrepreneurship ZeroTo510 Accelerator Accepting Applications
ANDY MEEK | The Memphis News comes from – the idea that an entrepre- mentor-driven program of instruction and outside of the Memphis area arrived, they neur is going from zero to the 510 filing. hands-on activities designed to shape their soon realized the potential that Memphis “Just like last year, we’re now looking to ideas and hone their entrepreneurial skills. offers,” said Jan Bouten, partner at Innova. select six teams to participate,” said Allan Each company chosen for the program Companies chosen for participation he ZeroTo510 startup accelerator Daisley, director of entrepreneurship and also will get $50,000 in seed capital from will be notified by April 11. The program is now accepting applications from sustainability for the Memphis Bioworks co-investors Innova and MB Venture will begin on May 11. Tentrepreneurs who’d like to be part Foundation. “We’re going to be recruiting Partners. ZeroTo510 is an initiative of the Greater of the program’s sophomore season. from all over. We’re looking for basically the The program is operated by the Mem- Memphis Regional Accelerator, a program March 25 is the deadline to apply best teams and the ones that our investors phis Bioworks Foundation and Innova. At funded by Launch Tennessee and the state for the program, the goal of which is to feel like would be good investments, the the end of the program, the participants as part of Tennessee Gov. Bill Haslam’s help entrepreneurs bring medical device ones that have good technologies we can will pitch to a group of investors. The INCITE initiative. The Memphis Bioworks products and services to market. Over the take through the process.” investors will choose finalists who will get Foundation has been awarded a $250,000 course of the 12-week program, ZeroTo510 One company in last year’s ZeroTo510 up to $100,000 in additional capital and grant by Launch Tennessee to encourage will aim to help medical device entrepre- round, Restore Medical Solutions, com- the opportunity to develop their business regional startup acceleration and target neurs navigate the startup process, refine pleted the program with a full round of even further. Competition for participation new business development in medical their business models and achieve the U.S. venture capital funding. Four others fin- in the program is open internationally, but device and biotechnology, information Food and Drug Administration’s 510(k) ished with additional funding of $100,000 companies chosen must be based in Mem- technology and logistics sectors. This is pre-market notification filing. each. The companies that are chosen to phis for the duration of the program. the second year of funding for the regional That’s where the name of the program participate will go through an intense, “Last year, once the companies from accelerator.
a.m. in the UTHSC Student-Alumni Center, 800 presenting “The Social Determinants of Health happenings Madison Ave. Visit uthsc.edu. Care Ethics and Just Health Care” Thursday, Feb. 28, at 5 p.m. in the Blount Auditorium New Memphis Institute will host Celebrate of Buckman Hall on campus, 2000 North What’s Right: Memphis Grizzlies Tuesday, Parkway. Engster is an associate professor of Feb. 26, from noon to 1:30 p.m. at Holiday political science at the University of Texas at Make-A-Wish Mid-South will host Wine for Wishes Inn University of Memphis, 3700 Central Ave. San Antonio. Contact Amy Jasperson at jasper- Members of the Grizzlies’ new ownership team [email protected]. Thursday, Feb. 28, from 6:30 p.m. to 9:30 p.m. at The will discuss the team’s community impact, charitable efforts and future. Tickets are $25. » the arts »Cadre, 149 Monroe Ave. The fundraiser will include food Visit newmemphis.org. The South Main Art Trolley Tour will be held Friday, Feb. 22, from 6 p.m. to 9 p.m. in the and wine pairings, a silent auction and live music by The Memphis Rotary Club will meet Tuesday, Feb. South Main Historic Arts District. Email info@ 26, at noon at the University Club of Memphis, southmainmemphis.net. Will Tucker Band. Visit midsouth.wish.org. 1346 Central Ave. U.S. District Court Judge John T. Fowlkes Jr. will speak. Cost is $18. R.S.V.P. to Leadership Memphis Gallery 363 will host Taylor Hughes at [email protected]. “Hitting the Switch,” a collaboration of emerging artists from Memphis College of Art, Friday, Feb. Black Business Association of Memphis will 22, from 6 p.m. to 8:30 p.m. at the gallery, 363 Community tions, health screenings, a fashion show and meet Wednesday, Feb. 27, at 8 a.m. at the as- » S. Main St. The show can also been seen by ap- giveaways. Cost is free. Visit methodisthealth. sociation’s office, 555 Beale St. Jozelle Booker Lipscomb Pitts Breakfast Club and the pointment through March 22. Call 452-8033. org. of Memphis Light, Gas and Water Division will University of Memphis will host a Profes- discuss what MLGW’s recent disparity study sional Connection Lunch Friday, Feb. 22, from Rhodes College Clough-Hanson Gallery will STARS: Support to Arthritis-Rheumatoid means for minority businesses. Visit bbamem- 12:30 p.m. to 2 p.m. in the University Center host an opening reception for Wisconsin artist Sufferers will meet Saturday, Feb. 23, from 3 phis.com. Shelby Room, 499 University St. The new series p.m. to 5 p.m. at Cordova Public Library, 8457 Michael Velliquette Friday, Feb. 22, from 6 p.m. connects students with business and com- to 8 p.m. in the gallery on Rhodes’ campus, Trinity Road. Adults, parents and children with The University of Memphis and local corpo- munity leaders for discussions and leadership 2000 North Parkway. The show runs through rheumatoid arthritis are invited. Visit meetup. rate sponsors will host Richard Sandor, Time exercises. Cost is free. R.S.V.P. to Jon Campbell March 22. Visit rhodes.edu. com/STARS1 for details. magazine’s Hero of the Environment, Wednes- at [email protected] or 678-1781. day, Feb. 27, from 8:30 a.m. to 10 a.m. in the Humane Society of Memphis & Shelby University Center theater, 499 University St. Ballet Memphis will present “Family Matters” Oak Court Mall will host its Paint the Mall Red County will host “All in for Animals” Texas Hold Sandor will discuss sustainability and his recent Friday, Feb. 22, through Sunday, Feb. 24, at heart health awareness fair Friday, Feb. 22, from ‘Em Charity Poker Tournament Saturday, Feb. book, “Good Derivatives.” Cost is free. R.S.V.P. to Playhouse on the Square, 66 S. Cooper St. Visit 5 p.m. to 7 p.m. in center court, 4465 Poplar 23, at 6 p.m. at 935 Farm Road. The tournament [email protected] by Feb. 25. balletmemphis.org for tickets. Ave. The event will include free health screen- is hosted by River Rat Rounders poker league. ings, a fashion show featuring crimson clothing, Registration by Friday, Feb. 22, is $50; registra- Talk Shoppe and the Small Business Cham- Germantown Community Theatre will pres- food and wine, and live music. Visit simon.com. tion at the door is $60. Visit memphishumane. ber will present “The Mastermind Principle: ent the musical “Quilters” Feb. 22 to March 10 org. Based on the Book ‘Think & Grow Rich’ by at the theater, 3037 Forest Hill-Irene Road. For Memphis Urban Debate League will screen Napoleon Hill” Wednesday, Feb. 27, from 9 a.m. more information, visit germantowncommuni- HBO Films’ “Thurgood” Friday, Feb. 22, at 6:45 The Ronald McDonald House of Memphis to 10 a.m. at the Better Business Bureau, 3693 tytheatre.org or call 754-2680. p.m. at in the University of Memphis University will host the 12th annual Oscar Experience Gala Tyndale Ave. Cost is free. Visit smallbusiness- Center River Room, 300 University Center. The in conjunction with the 2013 Academy Awards chamber.com or talkshoppe.biz. Gallery Ten Ninety One will host a meet-the- film features Laurence Fishburne’s one-man Sunday, Feb. 24, from 6 p.m. to 11 p.m. at The artist reception for Joseph Baker’s “A World play about civil-rights lawyer and Supreme Columns at One Commerce Square. The event Dixon Gallery and Gardens will host a Munch in Black and White – With Splashes of Color” Court Justice Thurgood Marshall. Cost is free; is sanctioned by the Academy of Motion Picture and Learn lecture, “The Mosaic Mind: An Sunday, Feb. 24, from 3 p.m. to 5 p.m. in the donation accepted. Email info@memphisde- Arts and Sciences. Tickets are $125. Visit rmhc- Introduction to the Theory and Practice of Art WKNO Digital Media Center, 7151 Cherry Farms bate.org. memphis.org. Therapy” Wednesday, Feb. 27, from noon to 1 Road. Call 458-2521. p.m. at Dixon, 4339 Park Ave. Cost is free with The Salvation Army will host grand-opening Rhodes College will host Imam Feisal Abdul gallery admission. Visit dixon.org. Memphis Brooks Museum of Art will host the activities for the Ray & Joan Kroc Community Rauf, presenting “A New Vision of Islam in 2013 Fleming’s Wine Dinner and live auction Center Saturday, Feb. 23, starting at 9:30 a.m. America,” as part of its free Communities in Bass, Berry & Sims PLC will host “Affordable Sunday, Feb. 24, at 6 p.m. at Fleming’s Prime at the center, 800 East Parkway S. A ribbon- Conversation Series Monday, Feb. 25, at 7 p.m. Care Act: 2013 Action Plan,” the third session in Steakhouse & Wine Bar, 6245 Poplar Ave. Cost cutting ceremony will be Sunday, Feb. 24, at 9 in the McCallum Ballroom of the Bryan Campus its Affordable Care Act webinar series, Thurs- is $200. R.S.V.P. tomemphiswineandfoodseries. a.m., followed by a dedication service at 10:15 Life Center on campus, 2000 North Parkway. day, Feb. 28, from noon to 1 p.m. Cost is free, org. a.m. Visit krocmemphis.org for a list of other Rauf’s lecture will explore the relationship be- but registration is required. Visit bassberry.com. activities. tween Islam and the West. Visit rhodes.edu. The Orpheum Theatre will present “Anything Saint Francis Hospital-Memphis will host Goes” Tuesday, Feb. 26, through March 3 at AARP Cordova Chapter will host genealogy Inventory Locator Service LLC and South- “Getting Heart Smart … What You Need to the theater, 203 S. Main St. Visit orpheum- workshop “Reclaim Your Ancestors” Saturday, west Tennessee Community College will Know,” presented by Dr. Basil Paulus, Thursday, memphis.com or call 525-3000 for showtimes Feb. 23, from 9:15 a.m. to 12:30 p.m. at Advent hold a grand opening for the Inventory Locator Feb. 28, at noon at the hospital, 5959 Park Ave. and tickets. Presbyterian Church, 1879 N. Germantown Service Technology Center Tuesday, Feb. 26, Visit saintfrancishosp.com. Parkway. Dr. Charles Williams, University of at 10 a.m. in the Butler Building on the Macon The Buckman Performing Arts Center at Memphis associate professor of anthropology, campus, 5983 Macon Cove. Visit ilsmart.com or The University of Memphis will hold a Black St. Mary’s School will present contemporary will speak. Cost is free. Email aarpcordova@ southwest.tn.edu. History Month closing ceremony Thursday, Feb. folk musician Ellis Paul Friday, Feb. 26, at 8 p.m. comcast.net. 28, at 1 p.m. in the Bluff Room of the University at Buckman, 60 Perkins Road Extended. Buy BlueCross BlueShield of Tennessee Health Center, 499 University St. The Rev. LaSimba tickets at buckmanartscenter.com. Methodist South Hospital will host Day to Foundation and the University of Tennes- Gray Jr. of New Sardis Baptist Church will Dance for Health Saturday, Feb. 23, from 10 see Health Science Center will kick off their speak. Visit memphis.edu. Poplar Pike Playhouse will present “The Wiz” a.m. to 1 p.m. at Southland Mall, 1215 Southland collaborative outreach effort, Blues Babies & through March 9 at the theater, 7653 Old Poplar Mall. The event will include dance demonstra- Beyond, Tuesday, Feb. 26, from 10 a.m. to 11 Rhodes College will host Dr. Daniel Engster, Pike. Visit ppp.org for times and tickets. 34 February 22-28, 2013 www.thememphisnews.com
Week of 2/11/13 - 2/17/13 crosswords The Weekly
Crossword Edited by Margie E. Burke The Weekly Crossword by Margie E. Burke 123456 7 8 9 10 11 12 ACROSS 1 Ran a credit 13 14 15 card 7 Out like a light 16 17 13 Bravo follower 18 19 20 21 14 Ladies' man 16 Peruses anew 22 23 24 25
17 Eric Clapton 26 27 28 29 song that repeats "she 30 31 32 33
don't lie" 34 35 18 Organ with a canal 36 37 38 39 40 41 42 43
19 Eighth planet 44 45 46 47 21 One of the Bobbsey Twins 48 49 50 51
22 Greek portico 52 53 54 55 24 Poker ploy 25 Constrained, 56 57 58 59 with "up" 60 61 26 Flip-flop 28 Winter driving 62 63 hazard Copyright 2013 by The Puzzle Syndicate 29 Cut a rug 30 Workshop 2 Strategic 39 Do the wash 46 Volleyball action 32 Farm alarm planning place 40 Skyward air 49 Suit fabric 34 Cut, as grass 3 Anger current 50 Scout rank 35 Knack for 4 Architect's 41 Transparent 53 Jack, for one comebacks drawing overlay 54 MGM mascot 36 Milky Way 5 Pillow filling 42 Moped's cousin 57 Took the gold ingredient 6 Hopeless feeling 43 Closet 59 Sunbather's goal 40 Let loose 7 Whistle blower accessory 44 Tickle pink 8 Stood out 45 Nile viper 9 Wedding dress 47 Southwest plant trim 48 Icy covering 10 Historical period 49 Soft shoe 11 Renowned material 12 Sinner's Answer to Last Week's Crossword 51 Lowly laborer punishment 52 Little rascal 13 Reaches a peak F LAGSTAFF PR I SM 53 Part of CPU 15 Lease signer AUR I CULAR AORTA 55 Clothe 20 Nervous twitch I T I NERARY SMART 56 Where sailors 23 Bring to life LEA PERM STATUE go 25 Old-school pub- STEM SP I NET 58 Create a stir lishing technique S TAMEN SH I ME 60 Down greedily 27 Garden COLOR A TONEMENT Celebrate What’s Right — 61 Fill-in worker decoration AMMO SNORE PA I R 62 Part of TLC 29 Frilly mat RESTRA I NT C I RCA A Conversation with 63 Sawbuck, to a 31 WeekFill with wonderof 2/11/13 - 2/17/13HOUSE CARNEY Brit 33 Part of BYOB REFUTE TONE 36 Shade of red MANAGE TAUT REP New Grizzlies Ownership DOWN 37 Sustenance A I TCH BARRACUDA 1 Put away, as a 38 Destructive STEEL APOSTOL I C sword spree HARDY TETEATETE
Sudoku Edited by Margie E. Burke Edited by Margie E. Burke Difficulty : Medium HOWHOW TO T SOLVE:O 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 Tuesday, February 26, 2013 boxes must contain the Noon – 1:30 pm numbers 1 to 9. Holiday Inn, University of Memphis Answer to Last Week's Sudoku Single tickets - $25 • Table of 8 - $200 Purchase tickets at grizzliescwr.eventbrite.com Sponsored by Copyright 2013 by The Puzzle Syndicate www.thememphisnews.com February 22-28, 2013 35 www.thememphisnews.com February 22 - 28, 2013 35
public notices
175.00 feet to a set iron pin in the and conditions of a Deed of Trust Note feet to the point of beginning. Being Related Info Foreclosure Notices West line of Lot 1 of the aforemen- dated August 26, 1999, and the Deed Lot 49, Section I, Edenwood North tioned subdivision, thence South of Trust of even date securing the same, Subdivision, platted as aforesaid. Also read our daily edition, The Daily Madison County 5 degrees 25 minutes 07 seconds recorded September 2, 1999, at Book ALSO KNOWN AS: 48 Ayers Drive, West along the West line of said Lot T1206, Page 180 in Office of the Register Jackson, Tennessee 38301 News, in print or online every business 1 for a distance of 102.30 feet to a of Deeds for Madison County, Tennes- The HB 3588 letter was mailed to day for public notices for Memphis & NOTICE OF TRUSTEE’S SALE set iron pin in the North line of Lot see, executed by Wanda K. Sargent the borrower(s) pursuant to Tennessee Shelby County. WHEREAS, default has occurred in the 21 in the aforementioned subdivision, and Jason Sargent, conveying certain Code Annotated 35-5-117. This sale is Go to www.memphisdailynews.com or performance of the covenants, terms, thence North 85 degrees 15 minutes property therein described to John B. subject to all matters shown on any ap- call 683.NEWS for more information. and conditions of a Deed of Trust Note 00 seconds West along the North line Philip of Shelby County, Tennessee ,as plicable recorded plat; any unpaid taxes; dated July 31, 1986, and the Deed of of said Lot 21 to the point of begin- Trustee for Aegis Mortgage Corporation any restrictive covenants, easements, or Trust of even date securing the same, ning, containing 17,706 square feet d/b/a UC Lending, a Corporation; and setback lines that may be applicable; recorded August 4, 1986, at Book 718, or 0.41 acre more or less. Being Lots the undersigned, Wilson & Associates, any statutory rights of redemption of any Page 435 in Office of the Register of 19 and 20, A.B. Stacks Subdivision as P.L.L.C., having been appointed Suc- governmental agency, state or federal; Deeds for Madison County, Tennessee, recorded in Plat Book 1 at Page 108 cessor Trustee. any prior liens or encumbrances as well executed by Windell Willis and Sheila L. in the Register’s Office of Madison NOW, THEREFORE, notice is hereby as any priority created by a fixture -fil and assigns; and the undersigned, Willis, conveying certain property therein County, Tennessee. given that the entire indebtedness has ing; and to any matter that an accurate Wilson & Associates, P.L.L.C., having described to Karen Kimes and Jules P. ALSO KNOWN AS: 128 Rhea Street, been declared due and payable; and survey of the premises might disclose. been appointed Successor Trustee. Harlicka, either of whom may act as Jackson, Tennessee 38301-6749 that an agent of Wilson & Associates, In addition, the following parties may NOW, THEREFORE, notice is hereby Trustee for Fleet Real Estate Funding The HB 3588 letter was mailed to P.L.L.C., as Successor Trustee, by virtue claim an interest in the above-referenced given that the entire indebtedness has Corporation; and the undersigned, the borrower(s) pursuant to Tennessee of the power, duty, and authority vested property: Wanda K. Sargent; Troy & been declared due and payable; and Wilson & Associates, P.L.L.C., having Code Annotated 35-5-117. This sale is in and imposed upon said Successor Nichols, Inc.; Jason Sargent that an agent of Wilson & Associates, been appointed Successor Trustee. subject to all matters shown on any ap- Trustee will, on March 7, 2013 on or The sale held pursuant to this Notice P.L.L.C., as Successor Trustee, by virtue NOW, THEREFORE, notice is hereby plicable recorded plat; any unpaid taxes; about 11:00 A.M., at the Madison may be rescinded at the Successor of the power, duty, and authority vested given that the entire indebtedness has any restrictive covenants, easements, or County Courthouse, Jackson, Tennes- Trustee’s option at any time. The right in and imposed upon said Successor been declared due and payable; and setback lines that may be applicable; any see, offer for sale certain property here- is reserved to adjourn the day of the Trustee will, on March 7, 2013 on or that an agent of Wilson & Associates, statutory rights of redemption of any gov- inafter described to the highest bidder sale to another day, time, and place about 11:00 A.M., at the Madison P.L.L.C., as Successor Trustee, by virtue ernmental agency, state or federal; any FOR CASH, free from the statutory right certain without further publication, upon County Courthouse, Jackson, Tennes- of the power, duty, and authority vested prior liens or encumbrances as well as of redemption, homestead, dower, and announcement at the time and place see, offer for sale certain property here- in and imposed upon said Successor any priority created by a fixture filing; and all other exemptions which are expressly for the sale set forth above. W&A No. inafter described to the highest bidder Trustee will, on February 28, 2013 on to any matter that an accurate survey of waived in the Deed of Trust, said property 845-224069 FOR CASH, free from the statutory right or about 11:00 A.M., at the Madison the premises might disclose. In addition, being real estate situated in Madison DATED January 30, 2013 of redemption, homestead, dower, and County Courthouse, Jackson, Tennes- the following parties may claim an inter- County, Tennessee, and being more WILSON & ASSOCIATES, P.L.L.C., all other exemptions which are expressly see, offer for sale certain property here- est in the above-referenced property: particularly described as follows: Successor Trustee waived in the Deed of Trust, said property inafter described to the highest bidder Windell Willis; Sheila L. Willis; Arrow Beginning at an iron pin on the South- FOR SALE INFORMATION, VISIT WWW. being real estate situated in Madison FOR CASH, free from the statutory right Financial Services LLC, as assignee for east margin of Ayers Drive (25 feet at MYFIR.COM and WWW.REALTYTRAC. County, Tennessee, and being more of redemption, homestead, dower, and GE Money Bank right angles from centerline) at the COM particularly described as follows: all other exemptions which are expressly The sale held pursuant to this Notice Northeast corner of Lot 50, Section Feb. 8, 15, 22, 2013 Fin11445 Beginning at a stake at the South- waived in the Deed of Trust, said property may be rescinded at the Successor I, Edenwood North Subdivision, as east intersection of Lambuth Blvd. being real estate situated in Madison Trustee’s option at any time. The right recorded in Plat Book 1 at Page 316, NOTICE OF TRUSTEE’S SALE (formerly Long Street) and Hatton County, Tennessee, and being more is reserved to adjourn the day of the in the Register’s Office of Madison WHEREAS, default has occurred Street, and runs thence East with the particularly described as follows: sale to another day, time, and place County, Tennessee; thence with the in the performance of the covenants, South margin of Hatton Street 79 feet Beginning at a found iron pin in the certain without further publication, upon Southeast margin of Aycrs Drive North terms, and conditions of a Deed of Trust to a stake at the Northwest corner of East line of Rhea Street (50’ R.O.W.) announcement at the time and place 46 degrees 13 minutes 30 seconds Note dated January 12, 2007, and the the lot conveyed by Thomas McGrath at the Northwest corner of Lot 21 for the sale set forth above. W&A No. East a distance of 90 feet to an iron Deed of Trust of even date securing the and wife, John B. Clune and wife, by in the A.B. Stacks Subdivision as 795-230924 pin at the Southwest corner of Lot 48, same, recorded January 18, 2007, at Deed of Record in Deed Book 151, recorded in Plat Book 1, Page 108 DATED January 30, 2013 thence with the South line of Lot 48 Book T1786, Page 1453 in Office of the Page 130, in the Register’s Office of in the Register’s Office of Madison WILSON & ASSOCIATES, P.L.L.C., South 48 degrees 30 minutes East Register of Deeds for Madison County, Madison County, Tennessee; thence County, Tennessee, proceed North 5 Successor Trustee a distance of 160 feet to an iron pin Tennessee, executed by Danny Bridger, South, with the West line of said degrees 30 minutes 00 seconds East FOR SALE INFORMATION, VISIT WWW. on the West line of Lot 41; thence conveying certain property therein Clune Lot 140 1/4 feet to a stake; along the East line of Rhea Street for MYFIR.COM and WWW.REALTYTRAC. with the West line of Lot 41 and Lot described to First Title Corporation as thence West 78 feet to a stake in a distance of 100.0 feet to a found COM 40 South 40 degrees 36 minutes 24 Trustee for Mortgage Electronic Registra- the East margin of Lambuth Blvd.; iron pin at the Southwest corner of Lot Feb. 1, 8, 22, 2013 Fin11442 seconds West a distance of 125 feet tion Systems, Inc, a separate corpora- thence North with the East margin of 18 in the aforementioned subdivision, to an iron pin at the Southeast corner tion that is acting solely as a nominee Lambuth Blvd. 140 1/4 feet to the thence South 86 degrees 00 minutes NOTICE OF TRUSTEE’S SALE of Lot 50; thence with the East line of for BNC Mortgage, Inc., A Delaware point of beginning. Legal description 13 seconds East along the South WHEREAS, default has occurred in the Lot 50 North 36 degrees 43 minutes Corporation, and BNC Mortgage, Inc., line of said Lot 18 for a distance of performance of the covenants, terms, 46 seconds West a distance of 173 A Delaware Corporation’s successors Continued on page 36 36 February 22-28, 2013 www.thememphisnews.com 36 February 22 - 28, 2013 www.thememphisnews.com
public notices public notices
Foreclosure Notices recorded July 18, 2005, at Book T1687, thence east with said alley 50 feet Feb. 1, 8, 22, 2013 Fin11443 Madison County, Tennessee, executed Continued from page 35 Page 486 in Office of the Register of to the northwest corner of Lot No. 4; by Xzavier Brewer, conveying certain Deeds for Madison County, Tennessee, thence south with the west line of Lot NOTICE OF TRUSTEE’S SALE property therein described to Holmes, taken from prior deed. executed by Nicolle C. Kinnon, conveying No. 4, 150 feet to the north margin WHEREAS, default has occurred in the Rich & Sigler, PC as Trustee for Mortgage ALSO KNOWN AS: 156 Hatton certain property therein described to of Westwood; thence west with the performance of the covenants, terms, Electronic Registration Systems, Inc. as Street Nations Title Agency of Tennessee Inc. north margin of Westwood 50 feet to and conditions of a Deed of Trust Note nominee for Platinum Mortgage, Inc.; Apartments 1, 2, 3, Jackson, Ten- and/or Nations Lending as Trustee for the point of beginning. Same being a dated September 5, 2007, and the Deed and the undersigned, Wilson & Associ- nessee 38301 Mortgage Electronic Registration Sys- portion of Lot No. 3 in Block No. 2 of of Trust of even date securing the same, ates, P.L.L.C., having been appointed The HB 3588 letter was mailed to tems, Inc., as a separate corporation the Walnut Grove Subdivision of the recorded September 6, 2007, at Book Successor Trustee. the borrower(s) pursuant to Tennessee that is acting solely as a nominee for Highland Park Addition to the City of T1811, Page 1 in Office of the Register of NOW, THEREFORE, notice is hereby Code Annotated 35-5-117. This sale is Decision One Mortgage Company LLC Jackson, Tennessee. Deeds for Madison County, Tennessee, given that the entire indebtedness has subject to all matters shown on any ap- and Decision One Mortgage Company, ALSO KNOWN AS: 215 Westwood Av- executed by Dorothy Horton and James been declared due and payable; and plicable recorded plat; any unpaid taxes; LLC’s successors and assigns; and enue, Jackson, Tennessee 38301 L. Horton a/k/a James Horton, convey- that an agent of Wilson & Associates, any restrictive covenants, easements, or the undersigned, Wilson & Associates, The HB 3588 letter was mailed to ing certain property therein described to P.L.L.C., as Successor Trustee, by virtue setback lines that may be applicable; P.L.L.C., having been appointed Suc- the borrower(s) pursuant to Tennessee Larry A. Weissman as Trustee for Mort- of the power, duty, and authority vested any statutory rights of redemption of any cessor Trustee. Code Annotated 35-5-117. This sale is gage Electronic Registration Systems, in and imposed upon said Successor governmental agency, state or federal; NOW, THEREFORE, notice is hereby subject to all matters shown on any ap- Inc., as nominee for SunTrust Mortgage, Trustee will, on March 14, 2013 on any prior liens or encumbrances as well given that the entire indebtedness has plicable recorded plat; any unpaid taxes; Inc., its successors and assigns; and or about 11:00 A.M., at the Madison as any priority created by a fixture filing; been declared due and payable; and any restrictive covenants, easements, or the undersigned, Wilson & Associates, County Courthouse, Jackson, Tennes- and to any matter that an accurate survey that an agent of Wilson & Associates, setback lines that may be applicable; P.L.L.C., having been appointed Succes- see, offer for sale certain property here- of the premises might disclose. In addi- P.L.L.C., as Successor Trustee, by virtue any statutory rights of redemption of any sor Trustee. inafter described to the highest bidder tion, the following parties may claim an of the power, duty, and authority vested governmental agency, state or federal; NOW, THEREFORE, notice is hereby FOR CASH, free from the statutory right interest in the above-referenced prop- in and imposed upon said Successor any prior liens or encumbrances as given that the entire indebtedness has of redemption, homestead, dower, and erty: Danny Bridger; Equable Ascent Trustee will, on February 28, 2013 on well as any priority created by a fixture been declared due and payable; and all other exemptions which are expressly Financial, LLC; CACH, LLC or about 11:00 A.M., at the Madison filing; and to any matter that an accurate that an agent of Wilson & Associates, waived in the Deed of Trust, said property The sale held pursuant to this Notice County Courthouse, Jackson, Tennes- survey of the premises might disclose. P.L.L.C., as Successor Trustee, by virtue being real estate situated in Madison may be rescinded at the Successor see, offer for sale certain property here- In addition, the following parties may of the power, duty, and authority vested County, Tennessee, and being more Trustee’s option at any time. The right inafter described to the highest bidder claim an interest in the above-referenced in and imposed upon said Successor particularly described as follows: is reserved to adjourn the day of the FOR CASH, free from the statutory right property: Nicolle C. Kinnon; Mortgage Trustee will, on March 14, 2013 on Beginning at a point in the East sale to another day, time, and place of redemption, homestead, dower, and Electronic Registration Systems, Inc or about 11:00 A.M., at the Madison margin of Willow Branch Drive, said certain without further publication, upon all other exemptions which are expressly as nominee for Decision One Mortgage County Courthouse, Jackson, Ten- point being the Southwest corner of announcement at the time and place waived in the Deed of Trust, said property Company, LLC; Decision One Mortgage nessee, offer for sale certain property Lot Number 97 in Section V of Hunt- for the sale set forth above. W&A No. being real estate situated in Madison Company, LLC hereinafter described to the highest ers Green North, Deer Creek North 725-203300 County, Tennessee, and being more The sale held pursuant to this Notice bidder FOR CASH, free from the statu- Development, plat of which appears DATED February 6, 2013 particularly described as follows: may be rescinded at the Successor tory right of redemption, homestead, of record in Plat Book 6, Page 38, WILSON & ASSOCIATES, P.L.L.C., Lying and being in the Fourth Ward Trustee’s option at any time. The right dower, and all other exemptions which Register’s Office of Madison County, Successor Trustee of the City of Jackson of Madison is reserved to adjourn the day of the are expressly waived in the Deed of Tennessee; runs thence North 88 FOR SALE INFORMATION, VISIT WWW. County, Tennessee, and more par- sale to another day, time, and place Trust, said property being real estate degrees 10 minutes 18 seconds East, MYFIR.COM and WWW.REALTYTRAC. ticularly bounded and described as certain without further publication, upon situated in Madison County, Tennessee, 150.13 feet to a point; thence South COM follows, to-wit: announcement at the time and place and being more particularly described 00 degrees 40 minutes 15 seconds Feb. 8, 15, 22, 2013 Fin11446 Beginning on a stake in the north for the sale set forth above. W&A No. as follows: East, 103.03 feet to a point; thence margin of Westwood (formerly Ste- 1286-132513 Beginning at an iron pin on the East South 89 degrees 19 minutes 46 NOTICE OF TRUSTEE’S SALE vens Street) at a point 108 feet DATED January 28, 2013 margin of Rachelle Road (30 feet at seconds West, 150 feet to a point WHEREAS, default has occurred in the east of the northeast intersection of WILSON & ASSOCIATES, P.L.L.C., right angles from centerline) at the in the East margin of Willow Branch performance of the covenants, terms, Prospect and Westwood, and runs Successor Trustee Northwest corner of Eligo Fuller as Drive; thence North 00 degrees 43 and conditions of a Deed of Trust Note thence north and parallel with and FOR SALE INFORMATION, VISIT WWW. recorded in Deed Book 472, Page minutes 39 seconds West, with the dated July 8, 2005, and the Deed of within three feet of the east line of MYFIR.COM and WWW.REALTYTRAC. 199, in the Register’s Office of Madi- East margin of Willow Branch Drive, Trust of even date securing the same, Lot No. 2, 150 feet to a ten foot alley; COM son County, Tennessee; thence with 100 feet to the point of Beginning. the East margin of Rachelle Road Being Lot Number 96, Section V, North 29 degrees 05 minutes West Hunters Green North, Deer Creek a distance of 164.34 feet to an iron North Development. pin at a corner of Whit Lafon; thence ALSO KNOWN AS: 100 Willow Branch North 89 degrees 11 minutes 50 Drive, Jackson, Tennessee 38305 seconds East a distance of 615.21 The HB 3588 letter was mailed to feet to a point in the centerline of a the borrower(s) pursuant to Tennessee ditch; thence with said ditch South Code Annotated 35-5-117. This sale is 01 degree 27 minutes 10 seconds subject to all matters shown on any ap- East a distance of 157.15 feet to plicable recorded plat; any unpaid taxes; a point at the Northeast corner of any restrictive covenants, easements, or Fuller; thence with Fuller’s North line setback lines that may be applicable; North 89 degrees 29 minutes West a any statutory rights of redemption of any distance of 539.28 feet to the point governmental agency, state or federal; t reach ev of beginning. any prior liens or encumbrances as well on’ er ALSO KNOWN AS: 1363 Rochelle as any priority created by a fixture -fil d yb Road, Jackson, Tennessee 38301 ing; and to any matter that an accurate e od The HB 3588 letter was mailed to survey of the premises might disclose. W y the borrower(s) pursuant to Tennessee In addition, the following parties may Code Annotated 35-5-117. This sale is claim an interest in the above-referenced subject to all matters shown on any ap- property: Xzavier Brewer plicable recorded plat; any unpaid taxes; The sale held pursuant to this Notice any restrictive covenants, easements, or may be rescinded at the Successor setback lines that may be applicable; Trustee’s option at any time. The right any statutory rights of redemption of any is reserved to adjourn the day of the governmental agency, state or federal; sale to another day, time, and place any prior liens or encumbrances as well certain without further publication, upon as any priority created by a fixture filing; announcement at the time and place and to any matter that an accurate survey for the sale set forth above. W&A No. of the premises might disclose. In addi- 1286-231389 tion, the following parties may claim an DATED February 8, 2013 interest in the above-referenced prop- WILSON & ASSOCIATES, P.L.L.C., erty: Dorothy Horton; James L. Horton Successor Trustee a/k/a James Horton; FirstBank FOR SALE INFORMATION, VISIT WWW. The sale held pursuant to this Notice MYFIR.COM and WWW.REALTYTRAC. may be rescinded at the Successor COM Trustee’s option at any time. The right Feb. 15, 22, Mar. 1, 2013 Fin11451 is reserved to adjourn the day of the Just a whole lot of somebodies. sale to another day, time, and place NOTICE OF TRUSTEE’S SALE certain without further publication, upon WHEREAS, default has occurred announcement at the time and place in the performance of the covenants, We think you’ll agree – there’s not a more for the sale set forth above. W&A No. terms, and conditions of a Deed of powerful advertising vehicle for reaching 791-225639 Trust Note dated July 31, 2007, and the city’s professional community. DATED February 6, 2013 the Deed of Trust of even date securing WILSON & ASSOCIATES, P.L.L.C., the same, recorded August 1, 2007, at Successor Trustee Book T1807, Page 468 in Office of the FOR SALE INFORMATION, VISIT WWW. Register of Deeds for Madison County, MYFIR.COM and WWW.REALTYTRAC. Tennessee, executed by Joshua L. Ma- COM ness and Miranda R. Maness, conveying Feb. 15, 22, Mar. 1, 2013 Fin11450 certain property therein described to R. Bradley Sigler as Trustee for Mortgage NOTICE OF TRUSTEE’S SALE Electronic Registration Systems, Inc., as WHEREAS, default has occurred nominee for Franklin American Mortgage in the performance of the covenants, Company, its successors and assigns; terms, and conditions of a Deed of and the undersigned, Wilson & Associ- Trust Note dated December 13, 2011, ates, P.L.L.C., having been appointed and the Deed of Trust of even date Successor Trustee. securing the same, recorded December NOW, THEREFORE, notice is hereby Visit TheMemphisNews.com or call 683.NEWS 22, 2011, at Book T1917, Page 1362 given that the entire indebtedness has in Office of the Register of Deeds for been declared due and payable; and www.thememphisnews.com February 22-28, 2013 37 www.thememphisnews.com February 22 - 28, 2013 37
public notices
that an agent of Wilson & Associates, of Syringa Cove; thence 55 feet in Tipton County, Tennessee, in Lien Book Wilson by deed dated 02/06/1985 Related Info P.L.L.C., as Successor Trustee, by virtue an Easterly direction with the North 18, Page 67, Lien Book 18, Page 112, and recorded 03/02/1985 in Book of the power, duty, and authority vested margin of Syringa Cove to the point of Lien Book 18, Page 136, Lien Book 18, 527, Page 116, of the public records in and imposed upon said Successor beginning. Also being Lot 4, Section Page 523, Lien Book 18, Page 560, Lien of Tipton County, TN. Also read our daily edition, The Daily Trustee will, on April 11, 2013 on or II of the Tate Subdivision, platted as Book 19, Page 42, Lien Book 19, Page Tax Map Reference: 110-001.17 News, in print or online every business about 11:00 A.M., at the Madison aforesaid. 112, Lien Book 19, Page 121, and Lien Street Address: 106 Talley Road, day for public notices for Memphis & County Courthouse, Jackson, Tennes- ALSO KNOWN AS: 27 Syringa Cove, Book 19, Page 232. The State of Tennes- Atoka, TN 38004 Shelby County. see, offer for sale certain property here- Jackson, Tennessee 38305 see by virtue of State Tax Lien filed with Parcel Number: 110-001.117 Go to www.memphisdailynews.com or inafter described to the highest bidder The HB 3588 letter was mailed to the Register’s Office of Tipton County, Current Owner(s) of Property: James call 683.NEWS for more information. FOR CASH, free from the statutory right the borrower(s) pursuant to Tennessee Tennessee, in Lien Book 18, Page 168. R. Wilson & Wanda Jean Wilson of redemption, homestead, dower, and Code Annotated 35-5-117. This sale is Bruce and Beth Landers by virtue of Other Interested Parties: James R. all other exemptions which are expressly subject to all matters shown on any ap- Deed of Trust filed with the Register’s Wilson, Wanda Jean Wilson waived in the Deed of Trust, said property plicable recorded plat; any unpaid taxes; Office of Tipton County, Tennessee in The street address of the above being real estate situated in Madison any restrictive covenants, easements, or Record Book 1442, Pages 173-175. described property is believed to be County, Tennessee, and being more setback lines that may be applicable; any Marshall Investments Corporation by 106 Talley Road, Atoka, TN 38004, but given. The sale of the land described particularly described as follows: statutory rights of redemption of any gov- virtue of Judgment Lien filed with the such address is not a part of the legal above will be subject to the right of the Being Lot Number 5, Section I of Deer ernmental agency, state or federal; any Register’s Office of Tipton County, Ten- description of the property sold herein state of Tennessee to redeem the land Run Subdivision a plat of which ap- prior liens or encumbrances as well as nessee, in Record Book 1377, Pages and in the event of any discrepancy, the as provided for in § 67-1-1433(c)(1) of pears of record in Plat Book 8, Page any priority created by a fixture filing; and 668-669. BancorpSouth Bank by virtue legal description herein shall control. the Tennessee Code.] 70, in the Register’s Office of Madison to any matter that an accurate survey of of Judgment Lien filed with the Register’s SALE IS SUBJECT TO TENANT(S) All right of equity of redemption, statu- County, Tennessee. the premises might disclose. In addition, Office of Tipton County, Tennessee, in RIGHTS IN POSSESSION. tory and otherwise, and homestead are ALSO KNOWN AS: 679 Old Pinson the following parties may claim an inter- Record Book 1419, Pages 69-73. SIH If applicable, the HB 3588 letter was expressly waived in said Deed of Trust. Road, Jackson, Tennessee 38301 est in the above-referenced property: Family Acquisition I, LLC by virtue of mailed to the borrower(s) pursuant to The undersigned will sell and convey only The HB 3588 letter was mailed to Harold Pufpaff; Judith Pufpaff Judgment Liens filed with the Register’s Tennessee Code Annotated 35-5-117. as Substitute Trustee. the borrower(s) pursuant to Tennessee The sale held pursuant to this Notice Office of Tipton County, Tennessee, in This sale is subject to all matters shown The right is reserved to adjourn the Code Annotated 35-5-117. This sale is may be rescinded at the Successor (i) Record Book 1445, Pages 387-391 on any applicable recorded plat; any day of the sale to another day, time, and subject to all matters shown on any ap- Trustee’s option at any time. The right (as assigned in Record Book 1445, unpaid taxes; any restrictive covenants, place certain without further publication, plicable recorded plat; any unpaid taxes; is reserved to adjourn the day of the Page 392); (ii) Record Book 145, Pages easements, or setback lines that may upon announcement at the time and any restrictive covenants, easements, or sale to another day, time, and place 874-878; (iii) Record Book 1460, Pages be applicable; any statutory rights place for the sale set forth above. If the setback lines that may be applicable; certain without further publication, upon 939-943; and (iv) Record Book 1471, of redemption of any governmental highest bidder cannot pay the bid within any statutory rights of redemption of any announcement at the time and place Pages 48-52. agency, state or federal; any prior liens twenty-four (24) hours of the sale, the governmental agency, state or federal; for the sale set forth above. W&A No. All right and equity of redemption, or encumbrances as well as any priority next highest bidder, at their highest bid, any prior liens or encumbrances as well 931-227280 statutory right of redemption, home- created by a fixture filing; and to any will be deemed the successful bidder. as any priority created by a fixture -fil DATED February 15, 2013 stead and dower are expressly waived matter that an accurate survey of the This property is being sold with the ing; and to any matter that an accurate WILSON & ASSOCIATES, P.L.L.C., in the Deed of Trust, and the title is premises might disclose. In addition, the express reservation that the sale is survey of the premises might disclose. Successor Trustee believed to be good, but, J. Clay Cole as following parties may claim an interest subject to confirmation by the lender In addition, the following parties may FOR SALE INFORMATION, VISIT WWW. Substitute Trustee, will sell and convey in the above-referenced property: James or trustee. This sale may be rescinded claim an interest in the above-referenced MYFIR.COM and WWW.REALTYTRAC. the real property described above, only R. Wilson, Wanda Jean Wilson by the Substitute Trustee at any time. property: Joshua L. Maness; Miranda R. COM as Trustee, subject to all outstanding If the United States has any lien or THIS LAW FIRM IS ACTING AS A DEBT Maness Feb. 22, Mar. 1, 8, 2013 Fin11454 real estate taxes and assessments (plus claimed lien on the property, notice COLLECTOR AND IS ATTEMPTING TO The sale held pursuant to this Notice penalties and interest, if any), taxes required by 26 U.S.C. § 7425(b) to be COLLECT A DEBT. ANY INFORMATION may be rescinded at the Successor and assessments for the current year given to the United States has been OBTAINED WILL BE USED FOR THAT Trustee’s option at any time. The right and any prior year and any prior encum- timely given. The sale of the land de- PURPOSE. is reserved to adjourn the day of the Foreclosure Notices brances of record in the Register’s Office scribed above will be subject to the right York Trustee Services, LLC, sale to another day, time, and place Tipton County of Tipton County, Tennessee. The right of the United States to redeem the land Substitute Trustee certain without further publication, upon is reserved to adjourn the sale of the as provided for in 26 U.S.C. § 7425(d) 200 Jefferson Avenue announcement at the time and place real property to another day, time, and (1).] Suite 1350 for the sale set forth above. W&A No. place certain without further publication, If the State of Tennessee has any Memphis, TN 38103 700-224929 NOTICE OF SUBSTITUTE TRUSTEE’S upon announcement at the day, time, lien or claimed lien on the property, Phone: (901) 432-0740 DATED February 14, 2013 SALE and place set forth above. notice required by § 67-1-1433(b)(1) Fax: (404) 961-1185 WILSON & ASSOCIATES, P.L.L.C., Default having been made in the THIS LAW FIRM IS ATTEMPTING TO of the Tennessee Code to be given to File No: TN-87000198-12 Successor Trustee payment of the debts and obligations COLLECT A DEBT AND ANY INFORMA- the state of Tennessee has been timely Feb. 15, 22, Mar. 1, 2013 Fin11449 FOR SALE INFORMATION, VISIT WWW. secured to be paid in a certain Deed of TION OBTAINED WILL BE USED FOR MYFIR.COM and WWW.REALTYTRAC. Trust (hereinafter the “Deed of Trust”) THAT PURPOSE. COM executed by Taylor Pharmacy, LLC to J. Clay Cole, Substitute Trustee Feb. 22, Mar. 1, 8, 2013 Fin11453 Linda M. Warren, as Trustee, for the Wardlow, Wardlow & Cole, PLLC use and benefit of Richard Lee Talley Feb. 15, 22, Mar. 1, 2013 Fin11448 NOTICE OF TRUSTEE’S SALE and Kathy Sue Talley (hereinafter the • Sales Comparables WHEREAS, default has occurred “Beneficiary”) dated October 9, 2003 NOTICE OF SUBSTITUTE TRUSTEE'S in the performance of the covenants, and recorded in Record Book 1100, SALE terms, and conditions of a Deed of Trust Page 168, with the Register’s Office Sale at public auction will be on March Note dated October 4, 2002, and the of Tipton County, Tennessee, and the 5, 2013 at 12:00 PM local time, at the • Thousands of Photos Deed of Trust of even date securing the Beneficiary having substituted J. Clay front of the Tipton County Courthouse same, recorded November 18, 2002, at Cole as Substitute Trustee as recorded in Covington, Tennessee located in Book T1424, Page 835 in Office of the in the Appointment of Substitute Trustee Covington, Tipton County, Tennessee, Register of Deeds for Madison County, recorded in Record Book 1571, Page pursuant to Deed of Trust executed • Commercial Property Profiles Tennessee, executed by Harold Pufpaff 1025, in said Register’s Office. The by James R. Wilson and Wanda Jean and Judith Pufpaff, conveying certain Beneficiary having requested the under- Wilson, to Atlantic Assurance Company, property therein described to Law Office signed to advertise and sell the following Trustee, as trustee for Centex Home of Vaughan Reid as Trustee for Centex property which was described in and Equity Company, LLC on 19th day of • Complete Sales History Home Equity Company, LLC; and the conveyed by the Deed of Trust, all of December, 2001 in REC Book 981, Page undersigned, Wilson & Associates, the indebtedness having matured at the 508 at Instrument Number 19440, in the P.L.L.C., having been appointed Suc- option of the owner upon default in the Office of the Register of Tipton County, • Sales & Construction Activity Reports cessor Trustee. payment of a part thereof, this is to give Tennessee; conducted by York Trustee NOW, THEREFORE, notice is hereby notice that J. Clay Cole, as Substitute Services, LLC, having been appointed given that the entire indebtedness has Trustee, will, on March 12, 2013, com- Substitute or Successor Trustee. Default been declared due and payable; and mencing at Twelve o’clock Noon, on the has occurred in the performance of • And much more! that an agent of Wilson & Associates, steps of the Tipton County Courthouse, the covenants, terms, and conditions P.L.L.C., as Successor Trustee, by virtue Covington, Tipton County, Tennessee, of said Deed of Trust and the entire of the power, duty, and authority vested proceed to sell at public outcry to the indebtedness has been declared due in and imposed upon said Successor highest bidder for cash, the following and payable. Trustee will, on March 21, 2013 on described property to-wit: Party Entitled to Enforce the Debt: or about 11:00 A.M., at the Madison Situated in the County of Tipton, Nationstar Mortgage, LLC County Courthouse, Jackson, Tennes- State of Tennessee: The following real estate located in see, offer for sale certain property here- Beginning at a stake in the south line Tipton County, Tennessee, will be sold inafter described to the highest bidder of West Main Street North 88 degrees to the highest call bidder: FOR CASH, free from the statutory right 30 minutes West 145.5 feet from the Described property located in Tipton of redemption, homestead, dower, and northwest corner of the Munford Pres- County, Tennessee, to wit: all other exemptions which are expressly byterian lot; thence with the south line Situated in Tipton County, TN: The standard for Mid-South real estate waived in the Deed of Trust, said property of West Main Street North 88 degrees Beginning at a point on East line of being real estate situated in Madison 30 minutes West 125.5 feet to a stake a gravel road, a distance of 530 ft. information since 1968 County, Tennessee, and being more in the east line of a 25 foot alley and Southerly (as measured along the particularly described as follows: being 25 feet east of John Crigger’s East line of said Gravel Road) from the Beginning at a stake in the North mar- northeast corner; thence South 91.15 centerline of Faulkner Road, said point gin of Syringa Cove, said point being feet to an iron pin; thence South 88 being a Southwest corner of the James Call 458-6419 or go to also the Southwest corner of Lot 5 of degrees 30 minutes East 118.1 feet O. Wilson and wife, Helen M. Wilson, 6.8 www.chandlerreports.com Section II of the Tate Subdivision, a to a stake; thence North 4 degrees acres, in Tipton Co., Tennessee; thence plat of which appears of record in Plat 30 minutes East 91.35 feet to the North 14 Deg. and 30 Min. East, along Book 3, Page 282 in the Register’s beginning. the East line of said gravel road, 135 Office of Madison County, Tennes- Property Address: 67 E. Main, Munford, ft.; thence South 75 Deg. and 00 Min. see, runs thence North 13.7 minutes Tennessee East; 165 Ft. thence South 14 Deg. and West 185.44 feet to a stake; thence Tax Parcel ID: CD 06 Map 112D Group 30 Min. West, 135 ft.; thence North 75 North 85 degrees 17.4 minutes West G Parcel 12.02 Deg. and 00 Min. West, along a South The Memphis News 156.11 feet to a point; thence South Current Property Owner: Taylor Phar- Line of James O. Wilson, 165 Ft. to the 38 degrees 40.9 minutes West 70.1 macy, LLC point of beginning. feet to a point; thence South 42 OTHER INTERESTED PARTIES: Internal Being the same property conveyed from 3 degrees 48.1 minutes East 253.93 Revenue Service by virtue of Federal Tax James O. Wilson and Helen Wilson Call 68 -NEWS feet to a stake in the North margin Liens filed with the Register’s Office of to James R. Wilson and Wanda Jean 38 February 22-28, 2013 www.thememphisnews.com
opinion Women Integral For Mentorship Model at U of M Last week we discussed Healthy million annually in leadership develop- City’s Best Version Memphis Common Table. This week let us ment and attracting students from Alaska focus on a new form of mentorship, aimed to Maryland. The idea, overall, is to help at talent development and retention, “polish” the students and infuse soft-skills here is a Memphis where We wait for the “right person” to with the University of Memphis and their necessary for success like professional important things get done discover an idea that is already being LEAD program: Professional Connection etiquette, conflict resolution and network- against long odds and talked about by those locked out of Lunches. ing, while on campus, so that powerful opposition aimed the process. This kind of unnecessary The U of M is well known they are ready to excel in a specifically at the very gatekeeping is the close cousin of the for its sports and degree pro- corporate environment once Tpeople trying to accomplish these goals paternalism of another era. grams, but it is quickly receiv- hired. As you can imagine, the that most of us agree are worthy. The problems we face are difficult ing national attention for its best “polishing” comes from That Memphis is not the frontline enough to overcome and the sustain- efforts focused on leadership business leaders who are will- Memphis enough of the time. It’s not able economic growth we seek chal- development, mentorship and ing to share their time, talents even the Memphis our younger busi- lenging enough without discounting talent retention. For example, and expertise. ness leaders envision as they work on the contributions of Memphians for the university was recently Jeremy Park Realizing that engagement ways to retain the talent we have and factors other than the merit of their recognized as one of the “Top giving back from business leaders is critical attract the talent we want. contributions. Ten Universities That Produce and that time is limited with ev- For this Memphis to succeed, Sometimes we gather to talk about the Most Interns” by the U.S. News Short eryone going 100 miles an hour in 100 dif- women have to be prepared to ignore how to work an arcane system that List. This prestigious list places Memphis ferent directions, LEAD created a snapshot conventional wisdom and look for the seems “too big to fail” even as it fails too with other institutions, like Dartmouth mentorship opportunity called Profession- smallest opening to an opportunity. To many of us. College, Syracuse University and DePaul al Connection Lunches. The lunches, held just get there, they might be paid less Going through barriers and chang- University. The key to their success, in my from 12:30 p.m. to 2 p.m., bring students than a man doing the very same job ing systems in a constructive way takes opinion, lies in partnerships and engage- and professionals together for fun, interac- even if it has a different title. They will time, in some cases lifetimes. And ment with community stakeholders, tive discussions and exercises centered on gain wisdom and counsel from women progress made in imperfect settings is as well as their innovative approach to leadership. Each lunch has a different fo- who in the words of Susan Stephenson, genuine progress. making mentorship easy and flexible with cus with different attendees, so that each co founder of Independent Bank, the But as we talk about maneuver- today’s hectic schedules. experience is different and content rich. city’s second largest bank, “the world ing through and around such barriers, The University of Memphis’ LEAD For example, recent lunches have featured wasn’t ready for them to have the op- we hope there is also an opportunity program, which is an acronym for Leader- mock interviews, exercises on social me- portunities they created for me.” to discuss change on a larger scale. Stephenson is the keynote speaker Although such change will almost cer- ship Education And Development, is an dia, and personal branding. In each case, for our Feb. 28 Women and Business tainly be more gradual, it is a conversa- easy example of how they are creating both professionals and students walk away seminar at the Memphis Brooks Mu- tion that must continue. new models for engagement between learning something that is applicable. seum of Art. It is tempting to argue that the students and professionals. LEAD is a Professional Connection Lunches are It is an occasion to note advances unfairness and adversity faced by the holistic leadership platform combining free and include lunch and parking. It is a as well as challenges. The forum is also women is another flavor of the unfair- a four-year academic scholarship with rewarding experience and well worth the a place and time for men and women ness and adversity that is part of a classroom instruction, workshops, com- hour and a half time commitment. This in our business community to talk tough environment in which survival of munity projects, mentorships and active semester, lunches are scheduled for Feb. honestly and openly about leadership the fittest is the outcome for all in one engagement in campus and community 22, March 29 and April 26. Contact Justin and the construction – figuratively and way or another. organizations. Leadership with account- Lawhead at [email protected]. ability is woven into every element of the literally – of a Memphis that is rooted in With success comes power and Jeremy Park, director of the Lipscomb a better future. with power comes the ability to make student’s on-campus and off-campus life. Pitts Breakfast Club, www.lpbreakfastclub. Building that Memphis has never substantial change. Success and power The program crosses all majors. com, can be reached at jeremyp@lpinsur- been easy. But it also doesn’t have to be have always been about advancement Just through the LEAD program alone, ance.com or followed on Twitter at @ as difficult as we often make it. more than survival. the university is investing more than $1 lpbreakfastclub or @jeremycpark.
Granddad, Hambone and the Ku Klux Klan
IF THE KLAN DOESN’T LIKE YOU, delivered his down-home observations how hurtful Hambone was to so many, pat yourself on the back. of the world around him in deep dialect. how illustrative that cartoon was of An Exalted Cyclops of the KKK – Oblivious of those it demeaned and ste- institutionalized racism, makes me no must be just one hole in his hood – re- reotyped, it was endearing to its readers, less proud of my grandfather’s immense cently told Channel 5, also quoted in The syndicated in hundreds of papers, and talent, sharp pen and even sharper wit. Huffington Post, “Y’all are going to see quoted daily over thousands of cups of He was an accomplished man of his time MEMPHASIS the largest rally Memphis, Tennessee, dan conaway morning coffee in places that would have and never intended Hambone to hurt has ever seen. It’s not going to be twenty refused to serve that coffee to Hambone. but simply to amuse, but that time has or thirty – it’s going to be thousands changed. If the Klan is marching against In its heyday, “Hambone’s Meditations” past and the hurt was real. of Klansmen from the whole United you, you’re moving in the right direction. appeared on the front page of The Com- Imagine if Hambone was in the paper States.” Conversely, if you’re for what the Klan’s mercial Appeal’s first or second section. today. Or on a horse in the Medical Cen- Or not. Whenever the Grand Cretins for, you’re way out of step. My grandfather drew and wrote it until ter. Hurt and hate feed the Klan, so let’s start blowing smoke, there’s never that My grandfather, J.P. Alley, was the his death in 1934, and my grandmother stop serving it up. When those clowns much fire. Something always seems to editorial cartoonist for The Commercial wrote it and my uncles drew it until it bring their hooded circus to town – no keep the hood count down. Can’t find a Appeal and part of the editorial team was finally canceled decades later. That matter how many – just ignore them and clean sheet. Can’t get time off from the that won the Pulitzer Prize for the paper year was 1968, and Martin Luther King they’ll starve. junkyard. The Rottweiler’s sick. Nobody in 1923 fighting the Ku Klux Klan. may well have seen it in the local paper I’m a Memphian, and I’m proud that to cook the meth. The truck throwed a Moving in the right direction, then that last morning. the KKK doesn’t like us. rod. Something. But here’s the thing. If and now, against people worth fighting Way out of step, accepted even Dan Conaway is a lifelong Mem- changing the name of a park is enough whose beliefs are worth nothing. adored by Jim Crow, part of our history phian, longtime adman and aspiring to get their sheets all twisted, enough to Conversely, the same man created best left in our past, and a lesson for us local character in a city known for them. get them promising a grand racist rally, “Hambone’s Meditations” in 1916, a today. Reach him at dan@wakesomebodyup. then that’s proof the name should be cartoon caricature of a black man who My contemporary understanding of com. www.thememphisnews.com February 22-28, 2013 39 40 February 22-28, 2013 www.thememphisnews.com SEMINAR SERIES 2013 THURSDAY, FEBRUARY 28TH WOMEN AND BUSINESS @ 3:30 PM, BROOKS MUSEUM AUDITORIUM
PANELIST NANCY MELLARD CBIZ Women’s Advantage National Leader
PANELIST PAMELA IRONS Attorney Jackson Lewis
PANELIST KEYNOTE SPEAKER NATASHA DONERSON SUSAN STEPHENSON President/CEO CEO and Co-Founder of Independent Bank Success Unlimited
As women increasingly attain leadership roles in the private and public sectors, they often face unique obstacles. These obstacles span the spectrum, from differing management styles between women and men to balancing personal, family and business responsibilities. Join us as we discuss the latest trends affecting women on all steps of the corporate, government and non-profit ladders.
Wine and Cheese Reception to follow. $25 to register at http://seminars.memphisdailynews.com
SPONSORED BY: