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VOL. 127 | NO. 150 | Thursday, August 02, 2012

Daily Digest

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Cheddar's Franchisee Buys Cordova Land

Greer Cos., the largest franchisee of Cheddar’s Casual Cafe, has bought 2.7 acres at the southwest corner of North Germantown Parkway and Bellevue Parkway in Cordova.

Working as Greer Land Co.-Restaurants LLC, the company paid $1.4 million for the site, which is part of 8.7 acres seller South Bellevue Corp. bought in 2006.

Lexington, Ky.-based Greer Land Co. filed a $3.2 million construction loan through Paragon National Bank at the time of purchase. The company in January applied for a $950,000 building permit for the site.

Cheddar’s opened its first Memphis location, 7864 Winchester Road in Centennial Commons, several months ago.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Board Approves Charter Moves to Old MCS Buildings

The countywide school board approved Tuesday, July 31, leases for two established charter schools to move into two recently closed schools.

Veritas College Prep will start its school year Aug. 20 at the old Georgia Avenue Elementary School and Freedom Preparatory Academy will start on the same date at the old Lakeview Elementary School.

The two charter leases are the first in which the Memphis City Schools system has rated unused school buildings by condition and based lease rates per square foot on those conditions.

Both school buildings were rated as in fair condition and leased at a rate of $4.59 per square foot. The rate for buildings in good condition is $5.10 and $5.67 per square foot for buildings rated as excellent. Buildings below fair condition are not leased by the school system because of the cost to the school system as the landlord to maintain them.

The lease agreements with Veritas and Freedom Prep charters include the cost of insurance and custodial services.

MCS maintains building insurance because the school system continues to own the buildings.

Freedom Prep is leasing all of the Lakeview property. Veritas is leasing part of the Georgia Avenue property.

The board also approved Belle Forest Community School as the name of the new southeast elementary school. Last week at a work session, board members debated the name for an hour. Some school board members favored calling it Belle Grove Elementary School after the community instead of Belle Forest, which is the name of the street that runs by the school. The school will open in August 2013.

– Bill Dries

City Loses Second Round on Photo Library Cards

A second federal judge has denied the city of Memphis’ request to use photo library cards issued by the city as voter identification.

Nashville Federal Court Judge Aleta Trauger denied Tuesday, July 31, the city’s second request for a preliminary injunction to require the Shelby County Election Commission to include the library cards the city began issuing in June as proper identification for voting in the Aug. 2 elections.

Earlier in July, another federal court judge in Nashville hearing the matter for Trauger also denied the motion.

Trauger will still hear the larger case, but she rejected the city’s argument that there would be irreparable harm if she didn’t issue an order permitting the use of the library cards immediately.

– Bill Dries

Cortview Capital Merges with Pierpont Securities

Cortview Capital, a national fixed-income broker dealer serving the middle markets and which has offices around the country including in Memphis, has entered into a deal to merge with Pierpont Securities Holdings LLC.

The deal creates a premier broker-dealer that offers a suite of fixed-income products and a range of finance, capital markets and advisory services. The transaction, which is subject to approval by the Financial Industry Regulatory Authority, is expected to close in the fall. Financial terms of the transaction were not disclosed.

The combined company will provide institutional and middle-market clients with access to a range of fixed-income offerings, an enhanced sales and trading platform, and an expanded distribution model.

The combined company will be known as Pierpont-Cortview Securities.

– Andy Meek

Hilliard Appointed to TRA Board

Memphian Herb Hilliard has been appointed by Tennessee Gov. Bill Haslam as a director of the Tennessee Regulatory Authority.

Hilliard, executive vice president and chief government relations officer at First Horizon National Corp., joins James Allison of Shelbyville, Tenn., as a director on the recently restructured TRA. Allison is president and CEO of Duck River Electric Membership Corp.

The Tennessee Legislature passed a law this year that changed the utility regulatory body from four full-time directors to five part-time members with an executive director’s position added. The executive director is appointed by the governor, lieutenant governor and House speaker.

The executive director is Earl Taylor of Knoxville, an attorney and business developer who earned his law degree at the University of Memphis Cecil C. Humphreys School of Law.

– Bill Dries

Wathen Joins Doug Carpenter Agency

Anita Wathen has joined advertising, public relations and consulting firm doug carpenter & associates LLC as director of operations.

Wathen is responsible for all daily functional aspects of the agency, including billing and the oversight of all traffic and media operations. She comes to the firm from what is now Sullivan Branding, where she worked for 18 years.

Wathen brings to the agency more than 30 years of advertising experience and has worked with a wide variety of clients in the hospitality, health care, pharmaceuticals, building and construction, entertainment, education, retail, legal and banking industries.

– Sarah Baker

Playhouse Performance to Benefit Child Advocacy Center

A special performance of “Legally Blonde the Musical” to benefit the Memphis Child Advocacy Center, will take place Saturday, Aug. 18, at 6 p.m. at Playhouse on the Square, 66 S. Cooper St.

A $60 ticket includes admission to a pre-performance party complete with heavy hors d’oeuvres, beer, wine, live music and a silent auction. It also includes a premium seat for the 8 p.m. performance of “Legally Blond.”

The 20-year-old Memphis Child Advocacy Center serves Shelby County children who are victims of severe physical and sexual abuse.

This benefit is sponsored by the Jerry & Nina Patton Family Foundation. Tickets are limited and advance purchase is strongly recommended. Call 888-4342 for ticket information.

– Aisling Maki

Central Defense Security Collecting School Supplies

Central Defense Security has teamed up with the Hickory Hill Community Center to help ensure that students at several local schools have the school supplies they need for the 2012-2013 school year.

The schools are Crump Elementary, Hickory Hill Elementary, Hickory Ridge Middle, Kirby High and Ridgeway High.

CDS is currently collecting new, unused school supplies and monetary contributions, which can be dropped off now through Aug. 9 at CDS, 6084 Apple Tree Drive, Suite 1, or the Hickory Hill Community Center, at 3910 Ridgeway Road.

Checks should be made payable to the Hickory Hill Community Center Booster Club. For more information, call Ken Moody at 322-9546.

– Andy Meek

Six Miss. Counties Get Drought Help

The U.S. Department of Agriculture has designated Marshall County as primary natural disaster area due to the summer drought.

USDA on Wednesday, Aug. 1, also said farmers and ranchers in counties that adjoin the primary disaster areas are also eligible for assistance.

The contiguous counties where aid is also available are Benton, DeSoto, Lafayette, Tate and Union.

Producers in the affected areas can qualify for low-interest government loans.

– The Associated Press

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 64 296 16,341
MORTGAGES 89 356 21,366
FORECLOSURE NOTICES 6 61 4,251
BUILDING PERMITS 199 701 39,202
BANKRUPTCIES 50 234 15,482
BUSINESS LICENSES 21 78 5,471
UTILITY CONNECTIONS 54 354 23,505
MARRIAGE LICENSES 8 78 5,018

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