Bioworks Files $15M Permit for Specialized Laboratory

Memphis Bioworks Foundation is planning to build Memphis Specialized Laboratory at 45 S. Dudley St., according to a $15.2 million permit application filed in September with the city-county Office of Construction Code Enforcement. The project was confirmed by Brandon Wellford, Memphis Bioworks Foundation’s chief financial officer and director of real estate.

The $15.2 million price tag on the permit will cover all construction costs, he said.

The 26,000-square-foot laboratory will be a commercialization facility for getting products approved by the U.S. Food and Drug Administration. It’s the first facility of its type in the region, Wellford said.

“Early stage research could be done at (research companies’) own location, and then, in order to provide certain lab and test results, they would bring their work to this facility and have it done in our facility,” he said. “And then those results would get passed on to the FDA so that they can get a product on the market.”

The Center City Revenue Finance Corp. approved the project in July for an eight-year payment-in-lieu-of-taxes tax break.

Architects on the project are Perkins+Will from Houston, as well as Self+Tucker Architects from Memphis. The general contractor is Flintco LLC.

Memphis Bioworks Foundation plans to close financing in the next 30 days, Wellford said. Construction is expected to take 14 months. That will be followed by two months of commissioning, or testing and balancing air-handling equipment and making sure the building operates up to standards – a critical step for laboratory-type buildings, he said.

Source: The Daily News Online & Chandler Reports

– Kate Simone

Former Triumph Chairman Files Chapter 7 Bankruptcy

Lane Carrick, who resigned last week as a director and chairman of Triumph Bank and Triumph’s parent company, has filed a Chapter 7 bankruptcy petition.

Carrick filed his Chapter 7 (also known as a “liquidation”) bankruptcy petition Friday, Sept. 1, in U.S. Bankruptcy Court for the Western District of Tennessee. He’s not yet submitted all the required documentation to the bankruptcy court specifying in detail his financial affairs.

Carrick declined to comment about the bankruptcy filing.

The filing came one day after Carrick’s successor as Triumph’s chairman, Hilliard Crews, sent a letter to the bank’s shareholders about Carrick’s departure.

“Lane will continue to be a very supportive shareholder, but felt that he could not give the time necessary to be an effective director and chairman,” Crews wrote. “Lane has served Triumph well as a founder and chairman and has been instrumental in our success. We thank him for all his efforts on behalf of the bank.”

Carrick has more than three decades of experience in the financial services industry, including his work as a consultant to United Capital and previously as chairman and CEO of Sovereign Wealth Management. He also has been active in the Memphis community through a number of civic affiliations.

Carrick said he’s proud of his accomplishments as the bank’s chairman and about what Triumph has been able to achieve in an extraordinarily difficult banking environment. He also said he’s now focused on growing United Capital’s presence across the Southeast U.S. and enjoying time with his family.

“I felt this was a great time to pass the baton to Hilliard Crews, Triumph’s executive committee chairman and largest shareholder,” Carrick said. “Hilliard will be a great, passionate board chairman, and I look forward to cheerleading the bank’s future success as an engaged shareholder.”

– Andy Meek

Memphis Latino Awards Gala to Honor Latino Leaders

The Memphis chapter of the National Hispanic Professionals Organization will host its annual Memphis Latino Leadership Awards Sept. 17 at the Hilton Hotel, 939 Ridge Lake Blvd.

Following a reception and silent auction from 5 p.m. to 6 p.m., the awards ceremony will recognize outstanding Latino leaders and highlight organizations working to positively impact the lives of Latinos in the Memphis community.

Award recipients will be honored in categories for community executive, young luminary, public service partner and outstanding business partners.

The keynote address will be delivered by Dr. Juan Andrade Jr., co-founder and president of the United States Hispanic Leadership Institute and recipient of the 2011 Ohtli Award, the highest honor presented by the Mexican government to a civilian living outside the country for contributions made to the empowerment of Mexican-American communities in the U.S.

Andrade will share his personal story about growing up working in restaurants, farms and factories, and how he went on to earn five college degrees and multiple doctorates.

For more information or to purchase tickets, visit www.memphislatinoleadershipawards.com.

– Aisling Maki

BRIDGES to Host Forum on Green Building Design

BRIDGES is hosting a forum on green building design, the latest event in its Justice Forum series for local, regional and national leaders to gather with the community to engage in conversations inspired by BRIDGES’ mission of advancing educational, racial, economic and environmental justice.

A panel including Jimmy Tucker of Self+Tucker Architects, Joe Wieronski of Askew Nixon Ferguson Architects, Rosalyn Willis of McCormack Baron Salazar, and Barry Yoakum of archimania will discuss green building design and its impact on the quality of life for Memphians.

The panel will be moderated by Michael Hagge, associate chair of the Department of Architecture at the University of Memphis.

The event is Tuesday, Sept. 13, from noon to 1:30 p.m. at the BRIDGES Center, 477 N. Fifth St. The setting is particularly fitting, as the BRIDGES Center is the first green commercial building in Memphis.

Admission to the talk is free; lunch is available for $10. Register at http://www.bridgesusa.org/luncheon.

– Sarah Baker

Adams and Reese Recognized for Growth

Adams and Reese LLP law firm, which has an office in Memphis, has ranked No. 4,598 on the 2011 “Inc. 5000” list, a list of America’s fastest-growing privately held companies compiled by Inc. magazine.

The firm was ranked based on the company’s average percentage revenue growth rate from 2007 through 2010.

Adams and Reese had a 15 percent growth in revenue during those years. In 2010, the firm expanded its operations by adding three offices in Florida – Sarasota, St. Petersburg and Tampa. The new offices increased the attorney count by more than 30.

Adams and Reese has more than 270 attorneys and advisers in 13 offices in 12 markets throughout the Southeast, including Memphis.

– Taylor Shoptaw

I-40 Rolling Roadblocks Planned for Sunday

With assistance from the state and local law enforcement agencies, the Tennessee Valley Authority Police will conduct rolling roadblocks for transmission line construction across Interstate 40 near mile marker 26.1 on Sunday, Sept. 11, between 8 a.m. and 4 p.m.

The roadblocks will clear all lanes of traffic intermittently every five minutes as a helicopter pulls transmission lines across the interstate to existing towers. Rolling roadblocks will take place throughout the day.

The TVA is upgrading the 23-mile-long, 500-kilovolt, high-voltage line from the Shelby Substation near Millington to the substation in Cordova in order to maintain electricity and reliability in the West Tennessee area.

In the event of bad weather, the work may be rescheduled.

– John Lintner

AARP Tennessee Tackles State's Hunger Problem

AARP Tennessee is on a mission to address the state’s hunger problem and is seeking help from fellow Tennesseans.

Since September is national Hunger Action Month, AARP is declaring “Drive to End Hunger” month in Tennessee.

It is specifically designating Sept. 9 as a day of service and asking people to volunteer at their local food bank, help deliver meals or simply make a donation.

– The Associated Press

Google Buys Zagat Service

Google has swallowed restaurant review service Zagat to ramp up its efforts to connect people with local businesses.

The founders, husband and wife team Nina and Tim Zagat, said they will remain co-chairs of the 32-year-old company and will use Google’s resources and expertise to expand. Zagat currently offers reviews and ratings on restaurants in more than 100 cities around the world, based largely on surveys of diners.

Google plans to integrate New York-based Zagat with its search and mapping products, where users are already invited to write reviews of businesses and services.

Google and other companies are trying to improve their local offerings as a way to sell more ads to local merchants.

BGC Partners analyst Colin Gillis said the purchase was smart. He said Zagat is like the little brother of Yelp, the leading online review site and a pioneer in a space that was founded in 2004. Google had attempted to buy Yelp in 2009, at one point offering about $500 million for the San Francisco-based company, according to numerous published reports.

Terms of the acquisition were not disclosed. It is likely a windfall for Zagat’s founders, who tried to sell the company in 2008.

– The Associated Press