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VOL. 126 | NO. 19 | Friday, January 28, 2011

Daily Digest

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Quail Hollow Office Condos Financed for $1.7 Million

Quail Hollow Office Partnership has financed four office condominium parcels through Regions Bank for a total $1.7 million. The financing includes Quail Hollow Office Building III Condominiums, units 3 and 4, Quail Hollow Office Building II Condominiums, unit 101, and Quail Hollow Office Planned Development, phase II, lot 1.

The financing is dated Jan. 11 and matures April 11, 2015.

All the financed parcels are on the south side of North Quail Hollow Road between West Massey Road to the west and International Drive to the east. Three of the parcels, 6389 N. Quail Hollow Road, units 3 and 4, and 6373 N. Quail Hollow Road, unit 101, face Quail Hollow and were financed together for $1.3 million. The other parcel, 1648 W. Massey, faces Massey and was financed for $442,500.

Source: The Daily News Online & Chandler Reports

– Kate Simone

Local Officials Want Secrecy in Biz Recruitment

Staff reports available to the media at the city-county Industrial Development Board’s monthly meetings may be getting a lot lighter soon – or, alternatively, will include a lot of redacted data.

City and county officials want the state to grant them a broader cloak of secrecy to use when recruiting new business investment to the area.

The Memphis City Council is scheduled to vote at Tuesday’s meeting on the local legislative package that will be pursued during the legislative session in Nashville.

Among the items is a request to allow local government to keep confidential certain details involved in business recruitment.

Language of a proposed new state act says “capital plans, marketing information, proprietary information and trade secrets, including sensitive information submitted to the board of directors, officers and/or staff of a local industrial development corporation or by an applicant seeking a payment-in-lieu-of-tax (PILOT) agreement or PILOT benefits shall be treated as confidential and shall not be open for inspection by members of the public.”

The proposed language does not specifically address IDB members talking about those details during the public meetings at which they’d vote on the projects.

– Andy Meek

Medtronic Releases New Spinal System

Medtronic Inc., whose Spinal and Biologics Business is in Memphis, has announced the release of its CD Horizon Solera Spinal System in the U.S. and a limited market release in Japan.

Medtronic’s fifth-generation spinal fusion system has been cleared to treat patients with degenerative disc disease, spinal stenosis, fracture, dislocation, failed previous fusions, tumors and, uniquely, adolescent idiopathic scoliosis.

The system is designed to provide spinal stabilization and correction in patients suffering from painful and function-limiting middle and lower back disorders.

The CD Horizon Solera Spinal System is equipped with an implant tracking system technology to provide individualized device quality and user data for patients.

“The launch of the CD Horizon Solera Spinal System is a key step in renewing our global fixation business, bringing new innovation to the market and extending our industry-leading portfolio of spinal therapies,” said Doug King, vice president and general manager of Medtronic’s spine business.

– Aisling Maki

Central Library Site of Latest Schools Forum

A third of the Memphis City Schools board will be on the panel Friday for the latest in the growing list of public forums on school consolidation.

The forum by the child advocacy group “Voices for Memphis’ Children” at 10 a.m. at the Benjamin L. Hooks Central Library, 3030 Poplar Ave., features MCS board members Tomeka Hart, Martavius Jones and Kenneth Whalum Jr. It will also include Memphis Education Association president Keith Williams and Julie Coffey, deputy administrator of the Shelby County Office of Early Childhood & Youth.

The public forum is to discuss how the charter surrender and resulting consolidation of the school systems would affect children.

“School consolidation has been strictly focused on politics and the financial implications,” said Voice for Memphis’ Children executive director Mark Yates. “But we really have not heard much about how consolidation will affect children.”

– Bill Dries

Baptist Memorial Health Care Receives High Marks

Baptist Memorial Health Care has been named among the nation’s top integrated health care networks and, for the fourth year in a row, Baptist Memphis has been ranked among the top 5 percent in the nation for its clinical quality.

A recent survey published by Modern Healthcare and conducted by SDI, a health care data and consulting firm, ranked Baptist 11th in the nation and first in the Mid-South out of nearly 600 integrated health care networks.

Networks are evaluated in terms of integration, integrated technology, contractual capabilities, outpatient utilization, financial stability, services and access, hospital utilization and physicians.

This marks the 12th year Baptist has been included in the top 100.

“We are proud to be included in this list again this year,” said Stephen C. Reynolds, president and CEO of Baptist Memorial Health Care. “This ranking confirms that our colleagues and physicians are delivering high-quality care intelligently and efficiently.”

And HealthGrades, an independent health care ratings organization, recently ranked Baptist Memphis in the top 5 percent of HealthGrades Distinguished Hospitals for Clinical Excellence.

The study, which analyzed patient outcomes at the nation’s 5,000 nonfederal hospitals from 2007 until 2009, concluded that Baptist Memphis demonstrated patient outcomes far exceeding those of other hospitals.

– Aisling Maki

Frayser Church Hosts Recruiting Event

The Pursuit of God Transformation Center, 3171 Signal St., will host a recruiting event Saturday at 8:30 a.m. in response to the recent reported increase in pregnancies at Frayser High School.

A local optical manufacturing company has expanded and is looking to fill 100 positions, ranging from entry-level to management-level positions.

Ricky Floyd, pastor of The Pursuit of God Transformation Center, declined to give the name of the company but said he believes this recruitment fair is, “an opportunity to magnify that we are doing some relevant things in the community.”

Refreshments and prayer will be offered for those who come earlier than the 10 a.m. presentation, which will be given by a recruiter of the optical company.

Those 18 and older are welcome to apply.

“We believe that we not only have a religious obligation to the community but we believe that we have to economically empower the people – economics has an impact on family, family has an impact on the crisis we’ve seen with the teen pregnancy rate – we think that all of those things are intertwined together.” Floyd said.

– Allison Buckley

Local Homebuilder Receives Fed Designation

Patrick J. Mahoney, owner of Remodeling Consultants Inc., has completed the construction/remodeling industry’s most comprehensive training in the use of the U.S. government’s FHA 203k Home Renovation Loan program.

With this designation, Mahoney is listed on the 203k Contractor Directory – a nationwide database of experienced 203k contractors dedicated to helping more Americans achieve the dream of home ownership, improve communities and contribute to the overall health of the economy.

“The FHA 203k Renovation Loan offers tremendous opportunities today for many consumers to tap into government insured rehab funds,” Mahoney said. “Until recent years, there has been limited use of this program and little awareness of the opportunities it offers the current economy. By becoming a Certified 203k Contractor, Remodeling Consultants Inc. is going to change that.”

Mahoney was recognized by the National Association of Home Builders in 2010 as the National Remodeler of the Month for May. He is a past president of the Memphis Area Home Builders Association and served as the chairman of its Remodelers Council in 2009 and 2010.

– Sarah Baker

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 67 67 10,289
MORTGAGES 107 107 13,434
FORECLOSURE NOTICES 24 24 2,668
BUILDING PERMITS 393 393 24,700
BANKRUPTCIES 60 60 9,952
BUSINESS LICENSES 16 16 3,752
UTILITY CONNECTIONS 149 149 14,706
MARRIAGE LICENSES 31 31 3,198

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