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VOL. 124 | NO. 187 | Wednesday, September 23, 2009

Daily Digest

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Church’s Chicken Files Loan on Poplar Locale

Cajun Operating Co., the Atlanta-based company that runs the Church’s Chicken franchises, has filed a $3.7 million deed of trust, assignment of leases and rents, security agreement and fixture filing through Bank of America NA on its restaurant at 925 Poplar Ave. in Greenlaw.

The 990-square-foot restaurant was built in 1999 and sits on 0.59 acres at the southeast corner of Poplar Avenue and North Pauline Street, across the street from Le Bonheur Children’s Medical Center. The Shelby County Assessor of Property’s 2009 appraisal of the standalone restaurant is $442,600.

Cajun Operating has 19 Church’s restaurants in the Memphis Metropolitan Area – 16 in Memphis, one in West Memphis, one in Tunica and one in Covington.

Cajun Operating Chief Executive Officer and Executive Vice President Louis Profumo signed the trust deed, dated Sept. 3. A call to Church’s marketing department for comment on the transaction was not immediately returned.

Source: The Daily News Online & Chandler Reports

White Station High Seeks Digital Sign Approval

White Station High School is seeking approval from the Memphis-Shelby County Board of Adjustment to replace an aging sign in front of the school.

The sign’s message has to be changed manually. The school wants to switch to a digital message board that can be updated from a computer in the school office.

Digital message boards are not allowed in the residential district where the school is, at 514 S. Perkins Road, so a sign variance has to be granted for the school to get the sign.

“An up-to-date message board will convey important information to their constituents and the public at large concerning activities taking place on the school site,” reads a planning staff report about the sign request.

The Board of Adjustment will meet today at 1 p.m. at City Hall, 125 N. Main St.

US Home Prices Rise 0.3 Percent in July

U.S. home prices rose slightly in July from a month earlier, according to a government index, further evidence the housing market is stabilizing.

The Federal Housing Finance Agency reported Tuesday prices rose 0.3 percent in July from the prior month, but June’s price increase was revised down to 0.1 percent from 0.5 percent.

The index is still 4.2 percent below last year’s levels and 10.5 percent off its peak from April 2007. It is based on loans owned or guaranteed by mortgage finance companies Fannie Mae and Freddie Mac.

The index has declined less than other housing market measurements because it excludes the most expensive homes and some of the subprime loans that have fallen into foreclosure.

The report “supports other evidence that the three-year-long decline in prices has come to a halt,” Paul Dales, U.S. economist at Capital Economics, wrote in a note to clients. But he cautioned “rising foreclosures and the fragile economic environment suggest that further gains in prices will be modest and patchy.”

A tax credit of up to $8,000 for first-time homebuyers expires Nov. 30, and lawmakers have yet to decide whether to extend it. While the Federal Reserve has been able to keep mortgage rates near historic lows, it’s unclear how long that will last.

Another measurement of home prices, the widely watched Standard & Poor’s/Case-Shiller national index, posted its first quarterly increase in three years during the April-June quarter.

Baptist College Sets Enrollment Record

Baptist College of Health Sciences has set a new record for enrollment with a 10 percent increase from last year.

There are 1,021 students taking classes at Baptist College this fall. The college, established in 1994, offers a bachelor of science degree in nursing and a bachelor of health sciences degree with majors in respiratory care, diagnostic medical sonography, health care management, nuclear medicine technology, medical radiography and radiation therapy technology.

The college also offers completion degrees for licensed or registered nurses and respiratory therapists.

GOP Group Touts Candidate To Challenge Rep. Tanner

The National Republican Congressional Committee is touting Crockett County farmer Stephen Fincher’s bid to challenge Democratic U.S. Rep. John Tanner in next year’s election.

Thirty-seven-year-old Fincher is a managing partner of Fincher Farms and lives in the Frog Jump community, about 16 miles south of Dyersburg. He’s been a member of The Fincher Family singing ministry since he was 9, performing at more than 100 events each year.

NRCC spokesman Andy Sere said Fincher’s candidacy “sends a strong signal to career politician John Tanner.”

Tanner has not faced a serious challenge since first being elected to Tennessee’s 8th House District seat in 1988. In 2006 he defeated Republican John Farmer with 73 percent of the vote. He faced no Republican opposition last year.

Tanner’s district includes northwest Shelby County and all of Tipton County.

Germantown Dental Sponsors Fundraiser

Germantown Dental Group will hold its third annual “Zoom Whitening Event” Oct. 3 to benefit the American Academy of Cosmetic Dentistry’s “Give Back a Smile” program.

The program has helped repair and re-create the smiles of more than 450 domestic violence victims since 1999.

The 16 customers of Germantown Dental who receive the whitening procedure will have their money go toward this program since the clinic is donating all proceeds. Space is still available. For more information, call 754-0540.

Scottrade to Hold Memphis Investor Workshop

Scottrade will host a free workshop in Memphis Oct. 3 at the Memphis Marriott Downtown, 250 N. Main St.

At the workshop, Scottrade customers will have the opportunity to network with other investors, learn how to manage their accounts and use the company’s online investing functions and features.

Topics will include finding opportunities with stock screeners, placing pre-marketing and after-hours online trades, learning the economic calendar for IPOs, earnings and splits, and setting up alerts for account-specific updates.

Scottrade is a branch-supported online investment firm with two Memphis offices at 6300 Poplar Ave. and 2257 N. Germantown Parkway.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 43 12,074
MORTGAGES 0 78 15,834
FORECLOSURE NOTICES 39 39 3,168
BUILDING PERMITS 292 292 29,124
BANKRUPTCIES 3 100 11,771
BUSINESS LICENSES 0 18 4,292
UTILITY CONNECTIONS 0 190 17,922
MARRIAGE LICENSES 0 43 3,711

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