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VOL. 126 | NO. 204 | Wednesday, October 19, 2011

Daily Digest

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Hyneman G'town Property Sells for $4.1 Million

Forest Downs Properties LLC has bought William R. (“Rusty”) Hyneman and Caresse M. Hyneman’s Germantown property from the couple for $4.1 million.

The two-parcel site includes a 12,353-square-foot, six-bedroom home on about 12 acres, as well as about 2 acres of vacant land. Both parcels are on the south side of Forest Downs Road west of Hollow Creek Road in Germantown

William Hyneman filed for Chapter 7 bankruptcy in February. The purchase agreement between the Hynemans and Forest Downs Properties LLC was signed in May and approved in July.

The purchase approval lists several claims and liens against the property, including a $3.5 million first mortgage through Paragon National Bank, a $1 million second mortgage through John W. Hyneman, a $2.1 million judgment lien claimed by Cadence Bank, as well as other judgments and liens. However, the purchase approval states all parties agreed $4.1 million was a fair purchase price.

The parcels were conveyed in 2004 to William Hyneman; in 2008, he conveyed them to be in the names of both William Hyneman and Caresse M. Hyneman.

Source: The Daily News Online & Chandler Reports

– Kate Simone

Wright Medical Names Tracy Senior Vice Prez

Wright Medical Group Inc. has announced Julie D. Tracy has been named senior vice president and chief communications officer of the Arlington-based orthopedic medical device company. Her appointment takes effect immediately.

Tracy has more than 25 years of experience in the medical device industry in investor relations, corporate communications and marketing. She most recently served as chief communications officer for Epocrates Inc. Previous roles include senior vice president and chief communications officer for ev3 Inc. and marketing and investor relations positions at Kyphon Inc. and Thoratec Corp.

Wright also announced that in connection with Tracy’s appointment, the company’s compensation committee approved the grant of a stock option to Tracy to purchase as many as 30,000 shares of Wright’s common stock at an exercise price of $18.33. The stock option vests and becomes exercisable in four equal, annual installments beginning on the first anniversary of the grant, conditioned on Tracy’s continued employment.

– Aisling Maki

CrescoAg Info Management Partners with Texas Company

CrescoAg LLC, a Memphis-based agricultural information management company, has signed a regional license agreement with Smartfield Inc., a Lubbock, Texas-based information technology company that provides in-crop analysis tools to enable crop management decisions.

Smartfield’s SmartCrop system uses sensing technology, coupled with algorithms and methodology, to determine when crops are experiencing stress. The CropInsight database and web interface maintains data about the crop and sends signals for an intervention such as irrigation or a topical application when a maximum stress time has been reached.

“This exciting partnership will enable our customers to access and evaluate precise information about their crop in real-time,” CrescoAg Executive Vice President Charles Michell said in a statement. “With this innovative service offering, CrescoAg is not only adding value to its business and that of its customers, but revolutionizing agriculture intelligence business altogether.”

The agricultural start-up company signed a 4,594-square-foot lease at 88 Union Ave. in July. The lease brings the occupancy of the 78,064-square-foot office building to 77 percent.

– Sarah Baker

Taylor Voted to Vacant Seat on County Commission

Former Memphis City Council member Brent Taylor is the newest Shelby County Commissioner.

Taylor got seven votes from the remaining 12 commissioners on the third round of voting Monday, Oct. 17.

The third ballot amounted to a runoff between Taylor and former Shelby County Election Commissioner Brian Stephens, both Republicans.

Taylor serves until the results of a special August general election for the District 1 Position 3 seat are certified. He has said he will not be running in the special election for the remaining two years or so left in the term of Mike Carpenter.

The winner of the special election will serve through August 2014.

Carpenter resigned effective Oct. 1 to become state director of StudentsFirst, a nonprofit education reform group based in Nashville.

Taylor took the oath immediately after winning the appointment. He joined the commission on a day when several hotly debated items were on the agenda.

Taylor was up to speed on those items but abstained on accepting a $140,000 state grant that drew a brief but unexpected debate among commissioners.

“That’s a new concept here,” said Commissioner Mike Ritz of the abstention.

“It won’t last long,” Taylor said of the passed vote.

– Bill Dries

Bargagliotti Named Fellow of Amer. Academy of Nursing

Dr. Toni Bargagliotti, professor in the Loewenberg School of Nursing at the University of Memphis and the former dean of the school, has been named a fellow of the American Academy of Nursing.

Bargagliotti was nominated by Dr. Brother Ignatius Perkins, dean and professor of the Aquinas College Department of Nursing, and Dr. Cathleen Shultz, dean of the Harding University Carr College of Nursing.

Bargagliotti’s selection was based on her contributions to the advancement of nursing.

Her accomplishments include implementing the first master of science in nursing/master of business administration degree program in the U.S. in 1985 as associate dean at the University of San Francisco.

In 2005, she was elected president of National League for Nursing, and under her leadership, the first certification program recognizing nurse educator expertise was implemented. Also during her presidency, the Academy of Nursing Education was created in 2006 to recognize the achievement of outstanding nurse educators.

Bargagliotti currently serves as chair of the Regents Online Degree Program master of science in nursing degree curriculum committee and provides consultation to the advancement of nursing education throughout the United States.

– Taylor Shoptaw

Memphis Botanic Garden to Open Herb Garden

The three-quarters-acre herb garden at Memphis Botanic Garden will open Oct. 27. It will feature 750 species of herbs from around the world.

The garden will serve as an educational tool to demonstrate the relationship between people and plants as well as a testing ground to determine which herbs can survive in the Mid-South.

Plants from all over the world will be used, and individual beds will have their own unique soil, according to director of horticulture Rick Pudwell. The garden will feature a meadow area and a woodland area, each divided into sections representing North and South America, Asia and Europe.

The garden will be representative of global herbal traditions, and visitors will be able to learn about the history of plants and early medicinal uses of herbs.

Aside from the plants, the garden will display some of the latest in green architecture with the pervious concrete used in building the beds. It will allow storm water to seep through the concrete and into the ground, thereby reducing runoff and allowing groundwater recharge, which will be key to maintaining growth.

The grand opening will include a Memphis Herb Society Market featuring a large selection of herbal foods and cosmetics. The opening ceremony will be at 6:15 p.m.

– John Lintner

New Barbershop Opens in East Memphis

Roosters Men’s Grooming Center has opened a store at 6300 Poplar Ave. that offers an old-fashioned barbershop experience for men and boys.

The store offers precision haircuts and shaves with hot steam towels, deep-cleansing facial massages and moisturizing lotions. Customers can enjoy cold drinks, large-screen TVs and oversized, leather barber chairs.

The store is open from 10 a.m. to 8 p.m. Mondays through Fridays and from 9 a.m. to 5 p.m. on Saturdays. For more information, call 347-3983.

– Andy Meek

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 67 156 11,921
MORTGAGES 77 227 15,577
FORECLOSURE NOTICES 0 42 3,065
BUILDING PERMITS 222 606 28,832
BANKRUPTCIES 82 210 11,517
BUSINESS LICENSES 23 73 4,228
UTILITY CONNECTIONS 87 339 17,522
MARRIAGE LICENSES 18 61 3,625

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