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Editorial Results (free)

1. Median CEO Pay Crosses $10 Million in 2013 -

NEW YORK (AP) – They're the $10 million men and women.

Propelled by a soaring stock market, the median pay package for a CEO rose above eight figures for the first time last year. The head of a typical large public company earned a record $10.5 million, an increase of 8.8 percent from $9.6 million in 2012, according to an Associated Press/Equilar pay study.

2. Health Law Concerns for Cancer Centers -

WASHINGTON (AP) – Cancer patients relieved that they can get insurance coverage because of the new health care law may be disappointed to learn that some the nation's best cancer hospitals are off-limits.

3. Permit Filed for Seasons 52 at Crescent Center -

Preparations have been made for Seasons 52’s first Memphis location at the Crescent Center, according to a recent permit application with the city-county Office of Construction Code Enforcement.

4. Magna Bank Taps Stewart To Lead SBA Division -

Tom Stewart has been named senior vice president and manager of the small business administration division at Magna Bank. Since joining Magna in March, Stewart has led the bank in obtaining national preferred lending provider status. In his new role, Stewart will oversee all business development activities for the Mid-South along with portfolio management and loan servicing.

5. Memphis Company Inks Major Miami Lease -

Memphis-based commercial real estate firm SMPO Properties Inc. has executed a lease with The Miami Herald Media Co. for the former U.S. Southern Command Headquarters building in Doral, Fla.

6. Three-in-One -

Highwoods Properties Inc. is about two weeks away from completing more than $1 million in parking lot renovations and building improvements at the East Memphis office complex Triad Centre, bringing its three developments into a cohesive, campus-style environment.

7. $800K Grant to Help Public Housing Residents -

Nearly $800,000 in federal funding is on its way to the city of Memphis to prepare public housing residents for life outside the vanishing developments.

And Memphis Mayor A C Wharton Jr. hinted this week that much more in U.S. Housing and Urban Development funding is on the way shortly for other parts of the ongoing move in the city away from public housing.

8. Pinnacle Awards Honor City’s Best Brokers -

As emcee Dan Conaway noted in his opening address Thursday night at the 10th annual Pinnacle Awards, “OK is the new great.”

9. Pinnacle Awards Honor City's Best Brokers -

As emcee Dan Conaway noted in his opening address Thursday night at the 10th annual Pinnacle Awards, “OK is the new great.”

10. CBU to Bless Newest Building -

Christian Brothers University will celebrate Friday the launch of its most recent addition.

The Living Learning Center, adjacent to Pender Hall on campus, is expected to open in fall 2011.

A blessing of the ground will take place Friday at 12:30 p.m.

11. MIFA Announces New Board Members -

Three people have joined the board for the Metropolitan Inter-Faith Association.

They are Deborah Craddock, Meg Crosby and the Rev. Milton Hawkins.

12. Tennessee Earns ‘F’ on Consumer Protections Scorecard -

A nonprofit consumer law agency gives Tennessee poor marks for laws governing interest charges on certain loan products.

In its just-released Small Dollar Loan Products Scorecard, the National Consumer Law Center gives Tennessee a grade of “F” for the consumer protections it offers debtors who take out any of four loan products.

13. City Mayoral Transition Yields Crowded To-Do List -  

Memphis Mayor-elect A C Wharton Jr. will be appointing a new city attorney once he takes office next week.

Elbert Jefferson, the city attorney Mayor Pro Tem Myron Lowery tried to fire just minutes after taking the oath of office on July 31, Friday sent a second resignation letter to Lowery. The two met for an hour Sunday evening at City Hall and Lowery accepted Jefferson’s resignation.

Jefferson’s attorney, Ted Hansom, and city Chief Administrative Officer Jack Sammons were also present. Jefferson turned in his key card, the keys to his city car and his laptop.

“The drama is over,” Lowery said Monday. “For my part, I wish it had never happened.”

Dramatis personae

In a resignation letter last week to Wharton, Jefferson had expressed hope that he would be hired for some position in the new administration. Over the weekend, he used the same text in the new letter but addressed it to Lowery instead. He requested the city pay his legal fees as well.

The resignation letter to Lowery made moot an ouster suit filed by Shelby County District Attorney General Bill Gibbons. Criminal Court Judge James Lammey, who was to hear the case, reset a final report to Oct. 27, citing Jefferson’s departure.

“A hearing on the issue of suspension would be an inefficient use of judicial resources, of the state of Tennessee and of the resources of the city of Memphis, and considering (Jefferson’s) current health status, would be an unnecessary tax on (Jefferson’s) well-being and a possible threat to his health,” Lammey wrote in the court order.

Jefferson was scheduled to return to City Hall from sick leave Monday. He apparently believed the new mayor would be in office by the time he returned.

An audit of city financial affairs is standard procedure in a change of administrations. Wharton is naming team members to review the offices of the city attorney, human resources and finance and administration. He was also to name members of his transition team Monday.

Time-, battle-tested

Shelby County Commissioner Mike Carpenter and Methodist Healthcare executive Cato Johnson will head the team.

The other members are:

- Herman Morris, attorney and 2007 candidate for Memphis Mayor.

- Tomeka Hart, Memphis Urban League CEO and Memphis school board member.

- Jim Strickland, attorney and Memphis City Council member.

- Rev. Dwight Montgomery, Southern Christian Leadership Conference Memphis chapter President.

- Jose Velasquez, Latino Memphis former executive director.

- Nisha Powers, Powers Hill Design Inc. President.

- Paul Morris, attorney and former chairman Center City Commission.

- Douglas Scarboro, The Leadership Academy vice president.

- Steve Reynolds, Baptist Memorial Health Care Corp. CEO.

- Diane Rudner, Plough Foundation chairman.

- Darrell Cobbins, Universal Commercial CEO.

Johnson has more experience serving on such task forces and ad hoc committees than any other leader in the city’s corporate community. Most recently, Johnson was one of two business leaders on the ad hoc committee exploring single-source local funding for education. He also served as a leader of the Mid-South Fairgrounds renovation committee and has been involved in similar capacities with every major construction project for a civic use in the past 15 years.

Carpenter’s appointment is certain to fuel speculation that he might be tapped for some role in the new administration. However, Carpenter has already been holding fundraisers in anticipation of a bid for re-election to his commission seat in the 2010 county elections.

Wharton is tentatively scheduled to take the oath of office Oct. 26.

The Shelby County Commission also meets that same day and could receive Wharton’s resignation and declare a vacancy in the county mayor’s office with a vote to appoint Wharton’s successor-to-come in November. Until that vote, County Commission Chairwoman Joyce Avery will serve as interim mayor.

“It will be a day in which I come to work at one place and leave work from another place,” Wharton told The Daily News.

But the Shelby County Election Commission will meet earlier than expected -- Thursday afternoon -- to certify the Oct. 15 election results. Once the results are certified, Wharton is free to resign as Shelby County mayor and take the oath as Memphis mayor.

Cooperative efforts

Meanwhile, Wharton has asked City Council Chairman Harold Collins to consider delaying a council vote today on the five appointees the city mayor is to make to a metro charter commission. The council set today’s vote with the intention of having whomever won the Oct. 15 special election appoint members of the panel.

“I won’t be there on the 20th. … I’m seeing if they are in a position to put it off until I’m actually over there,” Wharton told The Daily News, as he has had attorneys researching if a council vote in November would meet timelines for such an effort set out in state law.

“I believe that they may be able to meet on Nov. 3,” Wharton said.

Wharton has already named the 10 appointees to be made by the Shelby County mayor to the panel. The County Commission approved all 10 earlier this month.

While it appears he will make the other five, Wharton said he will ask the council, through Collins, to effectively pick the five nominees, whom Wharton would then send to the council as his appointees.

“I chose all 10 over here, which I had to do by law. If I could find some way around it that passed legal muster, then I would do that,” he said. “But we’ve researched it and I know of no way in which the city mayor can say … ‘I’m not going to do that.’ You can’t transfer it.”

Wharton and Lowery were to discuss the matter at a meeting Monday afternoon. Lowery told The Daily News he had received no suggested appointees from council members, but would be willing to submit names the council wants on the charter commission.

...

14. Update: Wharton Names Transition Team -  

Memphis Mayor-elect A C Wharton Jr. has named eleven more people to his transition team.

Shelby County Commissioner Mike Carpenter and Methodist Healthcare executive Cato Johnson will chair the group. The others include:

- Herman Morris, attorney, former president of Memphis Light, Gas and Water Division and 2007 Memphis mayoral candidate;

- The Rev. Dwight Montgomery, president of the Memphis chapter of the Southern Christian Leadership Conference;

- Nisha Powers, president of Powers Hill Design Inc.;

- Tomeka Hart, Memphis school board member and Memphis Urban League president and CEO;

- Darrell Cobbins, Universal Commercial President and CEO;

- Jim Strickland, attorney and Memphis City Councilmember;

- Jose Velasquez, Latino Memphis’ former executive director.

- Paul Morris, attorney and former chairman Center City Commission.

- Diane Rudner, Poplar Foundation chairman.

- Steve Reynolds, Baptist Memorial Health Care President & CEO.

- Douglas Scarboro, The Leadership Academy vice president.

In other transition developments, the Shelby County Election Commission will meet Thursday afternoon to certify the results of the Oct. 15 special mayoral election.

The meeting is earlier than Wharton had expected. Once the results are certified, Wharton can resign his post as Shelby County mayor at any point and take the oath of office at City Hall. The Shelby County Commission will then declare a vacancy in the county mayor’s office and commission chairwoman Joyce Avery will become acting mayor until the commission appoints someone to serve the year remaining in Wharton’s county term of office.

...

15. Events -

Christian Brothers University will present the first session of its “Family Business Enrichment Series” today from 7:30 a.m. to 9:30 a.m. in the Spain Auditorium in Buckman Hall. The topic of the lecture is “What Does the New Credit Environment Mean for Your Family Business?” For reservations, call 321-3999 or e-mail rsvp@cbu.edu.

16. Entercom’s Move Done by Feb., GM Says -

In 2006, Entercom Memphis LLC acquired three radio stations, doubling its broadcast footprint. Earlier this year, it signed a lease to move into 18,000 square feet at Moriah Woods business park, doubling its office space.

17. Events -

The International Business Council will hold its fall meeting today from 4:30 p.m. to 7 p.m. at the Dixon Gallery and Gardens, 4339 Park Ave. Aaron S. Brickman, director of Invest in America, U.S. Department of Commerce, will speak. To register, contact Brenda Montgomery at bmontgomery@memphischamber.com or 543-3541.

18. Events -

The Center City Commission Main Street Task Force will meet today at 3:30 p.m. in the Center City Commission conference room, 114 N. Main St. For more information, call 575-0540.

19. Events -

Talk Shoppe will present “The Greening of the Mid-South: How You Can Help While Saving on Your Utility Bill” with environmental conditioning specialist Mark Cardona today from 9 a.m. to 10 a.m. at the Better Business Bureau of the Mid-South, 3693 Tyndale Drive. For more information, call Jo Garner at 759-7808.

20. Events -

The Memphis Regional Chamber will hold a Breakfast Forum today from 7:30 a.m. to 9 a.m. in the Skyway Ballroom of The Peabody hotel, 149 Union Ave. C.H. “Bud” Albright Jr., Department of Energy undersecretary, will speak on the topic “An Energy Plan for Our Future.” Cost is $20 for members and $30 for prospective members. Make reservations with Ericka Milford at 543-3518 or emilford@memphischamber.com.

21. Events -

The Engineers’ Club of Memphis will hold its weekly meeting and lunch today at 11:30 a.m. at the Holiday Inn-University of Memphis, 3700 Central Ave. Page Cotton, Midwest regional manger for Stego Industries LLC, will speak on the topic “Below Slab Moisture Protection.” Cost is $14 to attend.

22. New AT&T Retail Center Slated for Germantown Parkway -

1730 N. Germantown Parkway
Cordova, TN 38016
Sale Amount: $1.3 Million

Sale Date: May 6, 2008
Buyer: Retail Realty Partners LLC
Seller: First Capital Bank
Loan Amount: $2 million
Loan Date: May 12, 2008
Maturity Date: May 12, 2015
Lender: Cadence Bank NA

23. Highwoods Moves Forward With Triad Centre III -

After delays, Highwoods Properties Inc. is moving forward with plans to build a $29.2 million, 148,000-square-foot office building near Poplar Avenue and Shady Grove Road, the company announced last week.

24. Highwoods Project on Hold Despite Filed Permits -

     Three building permits totaling $30.1 million were filed by Highwoods Properties Inc. this week for an office building and two parking garages at Poplar Avenue and Shady Grove Road, according to The Daily News Online, www.memphisdailynews.com. But the project - to be called Triad Centre III - is still on hold, said Steve Guinn, division vice president for the Raleigh, N.C.-based company.
     "We're not doing anything on it yet," he said. "My contractor just did the permit to be ready in case we move forward."
     One permit for $15.1 million was for a new office building, while two for $7.5 million each were for new parking garages.
     The applications for permit, filed with the city-county Department of Construction Code Enforcement by contractor Montgomery Martin Contractors LLC, were formalities that will pave the way for starting construction when the timing is right, which could be at least another month, Guinn said.
     

...

25. Hickory Hill Stakeholders Steaming Over Property's Neglect -

Atlanta developer Keven R. Patterson made his first attempt to enter the Memphis market four years ago when he and a group of investors, Water Gardens LLC, bought the Marina Cove apartment complex on Winchester Road for $1.6 million.

26. Stallworth Named Board President At Association of Fundraising Professionals -

Virginia Stallworth is the new president of the board of directors for the Association of Fundraising Professionals.

Stallworth has served on the board since 2005. She is the associate director at the Memphis Child Advocacy Center, where she has worked for nine years. Stallworth also serves on the board of directors for the Memphis Area Women's Council.

27. Summit Acquires MemphisApartment Complex - Summit Asset Management of Montgomery, Ala., recently bought the Aspenwood Square Apartments on Mendenhall Road for $4.2 million. It's the third in a series of properties the company has acquired in Memphis since September. Summit previously bought t

28. Baptist Names College of Health Sciences President -

Baptist Memorial Health Care named Betty Sue McGarvey president of the Baptist College of Health Sciences. McGarvey recently served the college as provost and is a graduate of the Baptist School of Nursing. She was a nursing instructor for two years and was among the 10 founders of the Baptist College of Health Sciences.

29. Archived Article: Newsmakers - BOMA Inducts 2005 Officers

Gibbons Named to Chair National Committee

Judge Julia Gibbons of Memphis was named by U.S. Supreme Court Chief Justice William H. Rehnquist as chair of the Budget Committee of the Judicial Conference. Gibbons has bee...

30. Archived Article: Newsmakers - Local Attorney Named Chairperson of ABA Business Law Section

SCO President Earns Distinguished Service Award

The Tennessee Optometric Association presented Dr. William E. Cochran with its 2004 Distinguished Service Award. Cochran is president ...

31. Archived Article: Events - Mpact Memphis presents a leadership luncheon from noon to 2 p

The Kiwanis Club of Memphis meets at noon today in the Hernando DeSoto Room at The Peabody, 149 Union Ave. Sgt. Jerry W. Bierbrodt of the Memphis Police Department and Detective Steve ...

32. Archived Article: Scholars (lead) - Washgin scholar is initiave of advance Memphis

Local Program Creates Business Scholars

Youth learn real-life lessons from corporate volunteers

ANDY MEEK

The Daily News

Early 20th century educator Booker T. Washington knew the value of...

33. Archived Article: Market Briefs - The Memphis National Golf Club, 2700 Houston Levee Road in Collierville, released 10 corporate memberships for sale The Memphis National Golf Club, 2700 Houston Levee Road in Collierville, released 10 corporate memberships for sale. For those who en...

34. Archived Article: Memos - Peter Kelly, chairman and chief executive officer of The LTV Corporation (NYSE: LTV - news) today announced the election by the Board of Directors of David M J. Mitchell Collins has been appointed senior vice president and chief financial officer of...

35. Archived Article: Benchmark - Danny Silsbe vs Danny Silsbe vs. Steve M. Hansard, Jim Reid and First U.S. Management L.L.C. According to the suit, Commerce Ventures Inc. (CVI) was formed in early 1994 to engage in the principal business of promoting, developing, constructing and ...

36. Archived Article: Law Briefs - The Memphis Bar Association will present a seminar on Social Security disability/SSI on Wednesday at noon at the Peabody Hotel The Memphis Bar Association will present a seminar on Social Security disability/SSI on Wednesday at noon at the Peabody H...