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VOL. 125 | NO. 78 | Thursday, April 22, 2010

Daily Digest

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Malco Files Loan On Bartlett Cinema

Malco Stage Road LLC has filed a $5.2 million leasehold deed of trust with security agreement and assignment of rents and leases on its Stage Cinema 13 at 7930 U.S. 64 (Stage Road) in Bartlett.

The company filed the loan through First Tennessee Bank NA.

Built in 1995, the 51,202-square-foot, multiscreen movie theater sits on 5.33 acres along the north side of Stage Road west of its intersection with North Germantown Road.

The Shelby County Assessor of Property’s 2009 appraisal of the cinema, which is in the Bartlett Corporate Park subdivision, was $4.5 million.

Memphis-based Malco Theatres Inc. owns and operates cinemas throughout the Mid-South.

Its roots date back to 1915 when M.A. Lightman Sr. opened a theater in Sheffield, Ala.

The company opened its first Memphis theater in 1929 and now has more than 320 screens in 30 locations.

Source: The Daily News Online & Chandler Reports

Cash to Re-Evaluate MCS Budget Cuts

Memphis City Schools superintendent Dr. Kriner Cash is re-evaluating proposed budget cuts for the current fiscal year that ends June 30.

Word of the new look at spending cuts came the same week the school board approved an agreement with the city of Memphis for the payment of $50 million between May and October in three installments.

The $50 million was ordered paid by two courts as part of a larger legal dispute over whether the city of Memphis has an obligation to fund the Memphis school system, and if so, at what level. The court case remains on appeal.

Dr. Alfred Hall, the Memphis school system’s chief of staff, said with the payments to start in May, Cash is reviewing his plans.

“That changed the landscape of the fiscal uncertainty that we were having,” Hall said. “While I think he still is going to be preparing to bring some cuts he will make in the budget, this has changed it somewhat slightly.”

Cash could present the budget cuts as early as next week, Hall said.

Among the options had been some kind of funding cut to charter schools.

It was the possibility of charter school cuts that sealed the payment plan announced last week at City Hall by Memphis Mayor A C Wharton Jr. and City Council chairman Harold Collins. The plan was approved by the council.

– Bill Dries

Tenn. Supreme Court Places Atty. on Disability

On April 1, the Tennessee Supreme Court issued an order transferring the law license of William T. Maxwell Jr. to disability inactive status for an undetermined period of time.

Supreme Court Rule 9 allows the court to do so if “a lawyer is incapacitated to the extend that he cannot adequately practice law.”

Maxwell, a real estate lawyer at Maxwell, Bernhardt and Bethea, can petition for dissolution or modification of his disability inactive status, but simply showing that his disability no longer exists doesn’t automatically reinstate his license to actively practice.

Rebekah Hearn

Tenn. Judicial Candidates Sign Campaign Code

The Tennessee Bar Association announced Wednesday that approximately three-fourths of all the state’s judicial candidates vying for election this year have signed a campaign code “aimed at preserving public faith in the integrity of the justice system,” according to the TBA.

This election cycle is the third one during which the TBA has asked candidates to sign the Tennessee Fair Judicial Campaign Code of Conduct. Among other requests, the code asks candidates to adhere to Supreme Court rules governing judicial elections; not take public positions on issues that could come before the court; form a committee, if applicable, to manage campaign finances; and to ensure the candidate’s actions promote public confidence in the fairness and competence of the judiciary.

This year, two state appellate court judges, Supreme Court Justice Sharon Lee and Court of Appeals Judge John McClarty, are facing a retention vote. Both have signed the code of conduct.

Seven state trial court candidates and 12 General Sessions candidates are standing for election in August. A list of all the candidates who have signed the conduct code is available at www.tba.org/judicialcampaign.

– Rebekah Hearn

Brain Injury Conference Approaches

Michael Paul Mason, a writer and brain injury expert, will be the featured speaker at the Annual Regional Education Conference on Brain Injury.

The conference will be April 30 from 8 a.m. to 4:15 p.m. in the Longinotti Auditorium at Saint Francis Hospital-Memphis.

The Regional Medical Center at Memphis’ Traumatic Brain Injury Services presents the annual event, along with co-sponsors.

The cost to attend ranges from $25 to $65, depending upon the professional status and membership affiliation of the participant. However, it is free to members of the military, retired military, individuals with brain injuries and their family members.

For more information and to register, visit www.themedfoundation.org and follow the link to “Special Events.”

Tom Wilemon

Chamber Hob-Nob Set for Thursday

The Greater Memphis Chamber will host Hob-Nob 2010 Thursday from 5 p.m. to 7:30 p.m. at the Agricenter International, 7777 Walnut Grove Road.

This informal “meet-and-greet” allows people to meet with county candidates. The event is free.

The chamber has also launched its new Legislative Action Center at www.voteformemphis.com.

– Tom Wilemon

Weeklong Teen Tech Camp Provides Intensive Study

The Memphis Public Library & Information Center and the Memphis chapter of the Society for Information Management will hold a weeklong technology intensive program July 19 through July 23 for teenagers ages 13 through 15.

At Teen Tech Camp, participants will learn to edit photos, music and videos to produce animations or simple games during the week. Demonstration and daily activities will culminate in a final project.

The purpose of the camp is to encourage teens to pursue careers in the information sciences.

Teen Tech Camp is free and will be held at the Benjamin L. Hooks Central Library, 3030 Poplar Ave.

Applications are due April 30. The application must include a recommendation from a teacher and parent’s consent.

Applications are available at www.memphislibrary.org/teens/techcamp. For more information, call 415-2700.  

– Taylor Shoptaw

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 66 180 11,618
MORTGAGES 81 223 15,202
FORECLOSURE NOTICES 21 68 2,979
BUILDING PERMITS 0 392 27,646
BANKRUPTCIES 90 218 11,180
BUSINESS LICENSES 26 63 4,101
UTILITY CONNECTIONS 99 422 16,906
MARRIAGE LICENSES 19 62 3,526

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