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VOL. 126 | NO. 29 | Friday, February 11, 2011

Daily Digest

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Foreclosure Notice Filed for Delta Diamond Land

A first-run foreclosure notice has been filed on property owned by Delta Diamond Land Development LLC, according to today’s foreclosure notices section.

The notice was filed because Delta Diamond Land Development defaulted on a construction loan through Community Bank NA dated Aug. 15, 2006.

The parcels included in the notice are: 1.8 acres in Ruby Estates, 1st Addition; 3.3 acres in Gemstone Planned Development, phase 8; 3.2 acres in Gemstone Planned Development, phase 9; 4.4 acres in Gemstone Planned Development, phase 10; and a 59.3-acre portion of the Delta Diamond Land Development LLC 1st addition of Emerald Estates.

The properties are on the east side of Weaver Road between Holmes and Stateline roads in Whitehaven. In a 2006 Daily News article, David Walker, who signed loan documents as chief manager of Delta Diamond Land Development, explained the Gemstone community is made up of three subdivisions: Ruby Estates (homes between 1,200 and 2,500 square feet), Diamond Estates (between 1,800 and 3,500 square feet) and Emerald Estates (a gated subdivision with homes starting at about 3,600 square feet).

At the time of the 2006 article, Walker said the 600-home subdivision was more than half complete, with 350 to 400 families living in the community.

David Walker and Rene Y. Walker are listed on the foreclosure notice as interested parties.

The sale is scheduled for March 2 at noon at the Shelby County Courthouse.

To read the full text of the foreclosure notice, see the notices section of today’s Daily News print edition or at www.memphisdailynews.com.

Source: The Daily News Online & Chandler Reports

– Kate Simone

Tenn. Holiday Sales Tax Collections Best Since '07

Finance Commissioner Mark Emkes says Tennessee has experienced its best Christmas sales tax season since 2007.

Emkes gave a preview to the December spending trends at a forum sponsored by The Associated Press and the Tennessee Press Association on Thursday.

The commissioner said sales tax collections posted a growth rate of nearly 4.5 percent in January, which reflects economic activity in the previous month. Sales taxes make up two out of every three tax dollars collected in Tennessee.

Corporate franchise and excise taxes came in $19 million above estimates.

Emkes, who is Gov. Bill Haslam’s chief Cabinet officer, said growth has been sluggish and that the state will still face deep spending cuts.

– The Associated Press

AWA Honors Judge Donna Fields

The Association for Women Attorneys has presented its Marion Griffin-Frances Loring Award to Shelby County Circuit Court Judge Donna Fields.

The award was established in 1989, on the 10th anniversary of the group’s founding, to recognize those who have made outstanding contributions to women in the law.

“When I graduated in 1975, between 5 and 10 percent of the class were women,” Fields said in her award acceptance remarks. “We all know that today, greater than 50 percent are women. But, I think I can speak for those who came before when I tell you that it was worth the price we paid to forge the way for you as we watched and contributed to the changes in the legal profession.

“The most important thing one woman can do for another is to illuminate and expand her sense of actual possibilities. It remains your job to ‘pay it forward,’ and I see you and this organization doing just that.”

– Andy Meek

Preservation Series to Kick Off in March

The 2011 Memphis Heritage’s Preservation Series will be meeting on Mondays in March to explore Mid-Century Modernism in Memphis.

The annual series will begin on March 7 with an Introduction to Modernism by architectural historian Judith Johnson.

“Although we still relish our buildings from the 19th century and early 20th century, it is time to understand and embrace the architecture and spirit of the middle of the twentieth century,” Memphis Heritage’s executive director June West said in a statement. “These underappreciated Modernists structures are rapidly disappearing from the built environment as most have not been designated eligible for or listed on the National Register.”

Preservation Series lectures will be held from 7 p.m. to 8 p.m.

The registration fee is $50 for MHI members and $60 for non-members. Registration is for the complete series, which is every Monday in March.

To register, call 901-272-2727 or visit www.memphisheritage.org/cms.

– Sarah Baker

Marshall Named MAAG Exec. Director

Pamela Marshall has been named the new executive director of the Memphis Area Association of Governments.

Marshall assumed the position Feb. 2 after the retirement of MAAG’s director of 30 years, John Sicola.

The MAAG board of directors selected Marshall to drive the organization’s mission of providing funding to Fayette, Lauderdale, Shelby and Tipton county governments in support of economic, housing and community development initiatives.

Marshall also will work closely with member governments and nonprofit organizations to identify, craft and lobby for legislation and public policy that serves to improve overall quality of life for residents.

Marshall has more than 15 years of public policy experience in health care, transportation, economic and community development sectors. She began her career as a journalist.

– Taylor Shoptaw

Friends of MAS Hosts Valentine's Event

Friends of Memphis Animal Services will host a Valentine Adoption Spectacular from 10 a.m. to 5 p.m. Saturday at the Memphis Animal Shelter, 3456 Tchulahoma Road.

As part of the festivities, MAS administrator Matthew Pepper plans to remain locked up in a dog cage waiting to be released until all adoptable animals at the shelter are adopted.

Friends of MAS, a nonprofit organization that works to improve animal welfare by supporting the shelter and educating the public about responsible pet ownership, is on a mission to find homes for 200 animals this month. So far, more than 70 have been adopted.

According to Pepper, the group’s efforts have directly resulted in a significant increase in the number of adoptions and substantial decrease in the number of animals being euthanized.

Friends of MAS also recently implemented a new pet retention program, which provides food, shelter and spay-and-neuter provisions for Memphis pet owners facing financial difficulties.

– Aisling Maki

Report: Google, Facebook Consider Buying Twitter

Google Inc. and Facebook Inc. have both held low-level talks with Twitter Inc. about purchasing the social networking service, according to a report published Thursday.

The talks have valued Twitter at $8 billion to $10 billion, according to unnamed sources cited by The Wall Street Journal. The sources said the company had 2010 revenue of $45 million but lost money as it hired and invested in data centers, according to the Journal.

Investors have shown keen interest in social networking services in recent months. Last month, daily coupon website Groupon raised $950 million in financing after reportedly turning down Google’s offer to purchase it for $6 billion. Facebook is also said to have received $500 million in new funding last month.

Twitter and Facebook declined to comment. Google did not immediately respond to messages seeking comment.

– The Associated Press

Warsh to Leave Fed at End of March

Federal Reserve board member Kevin Warsh, who helped engineer the central bank’s strategy during the financial crisis, will step down near the end of March.

Warsh has served at the Fed since 2006. President George W. Bush tapped him for the post when he was 35 years old, making him the youngest person to serve on the Fed’s seven-member board.

Warsh has voted largely with Fed Chairman Ben Bernanke. Warsh supported the Fed’s $600 billion bond-buying program despite reservations about how much it would help the economy and concerns that it could spur inflation.

His departure will create a second vacancy on the board.

– The Associated Press

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 324 13,221
MORTGAGES 0 477 17,235
FORECLOSURE NOTICES 0 82 3,380
BUILDING PERMITS 0 366 30,930
BANKRUPTCIES 0 276 12,619
BUSINESS LICENSES 0 87 4,576
UTILITY CONNECTIONS 0 487 19,380
MARRIAGE LICENSES 0 122 4,031

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