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VOL. 127 | NO. 92 | Thursday, May 10, 2012

Daily Digest

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FedEx Files Permit App to Expand Sort Facility

FedEx is planning to expand a sort facility near its Super Hub by Memphis International Airport, according to a $1.7 million building permit application filed with the city-county Office of Construction Code Enforcement.

The permit application covers structural steel and roof work to add 16,650 square feet to a 78,450-square-foot building at 3077 Independent Drive, between Republican Drive to the west and Tchulahoma Road to the east, south of Democrat Road.

FedEx in late March released its most recent quarterly earnings report, which covered the three months ended Feb. 29. Net earnings totaled $521 million, or $1.65 a share, compared with $231 million in earnings, or 73 cents a share, in the year-ago quarter.

FedEx Chief Financial Officer Alan Graf said during a March conference call that the company will continue to reduce flight hours – in part because it is continuing to move to new and more efficient Boeing 767 aircraft to replace MD10s.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Bank of Bartlett Reports First Quarter Profit

Bank of Bartlett has reported a profitable first quarter – the third consecutive such quarterly profit, according to the bank.

From Jan. 1 through March 31, the bank reported a net income of a little more than $860,000, compared to a loss of almost $291,000 during the same quarter of 2011.

Among the credit measures that improved during Q1, the bank’s 30-90 day delinquencies were at less than 1 percent for the third straight quarter, dropping to 0.44 percent in Q1.

Bank of Bartlett was founded in the town of Bartlett in 1980 and today operates eight bank branches in Shelby County.

– Andy Meek

MAAR Reports April Home Sales

Memphis-area home sales for April rose 15.3 percent from the same month a year ago, with 1,166 total sales recorded in the Memphis Area Association of Realtors MAARdata property records database.

Total sales dropped 9 percent from March. Average sales price year over year was down 2.4 percent at $117,101.

Inventory was up 3.8 percent, with 7,158 units listed for sale. Sales volume year to date increased 16.7 percent to $503.5 million.

“It was a much better April than a year ago, all across the board,” MAAR president Carol Lott said in a statement. “Even better, sales are up almost 20 percent year over year.”

The database includes records of all property transactions in Shelby, Fayette and Tipton counties.

To see real estate company Chandler Reports’ April total for Shelby County, see Page 1.

– Sarah Baker

Food Fare Event Set For Thursday in Court Square

The newly formed Memphis Food Truck Association will host a Food Truck Fare Thursday, May 10, at Downtown’s Court Square.

Participating vendors are Fuel Café, YoLo Frozen Yogurt & Gelato, Square Meal on Wheels, Memphis Munchies, Kona Ice, Revival Southern Food Co., Mark’s Grill, Healthy Delicious, Rockin’ Dough and Scooter’s.

YoLo and Healthy Delicious will begin vending at 5 a.m. in conjunction with WREG Channel 3’s live morning segment. The other vendors will be set up from 11 a.m. to 2 p.m.

The event comes about a year after Memphis City Council passed the food truck ordinance drafted by Jim Strickland and Shea Flinn, allowing self-contained mobile food preparation vehicles to operate in the city of Memphis.

Follow MFTA on Facebook at Facebook.com/MemphisFoodTruckers and on Twitter at Twitter.com/MemFoodTruckers.

– Sarah Baker

New County Fire Station to Open in Northaven

The new Northaven Fire Station will get its formal opening Tuesday, May 15, at 10:30 a.m.

Shelby County Mayor Mark Luttrell and Shelby County Fire Chief Clarence Cash Jr. will be at the ceremony at 944 Northaven Drive, at the corner of Northaven and Breckenwood drives.

Fire Station No. 67 serves a 28-square mile area that includes 1,604 homes, 37 commercial sites, eight churches and Northaven Elementary School. It replaces the fire station on North Circle Road that opened in the 1970s in a building that was originally a convenience store.

That building will be leased to Impact Baptist Church, which plans to use it as a community center and after school program.

– Bill Dries

RedRover Wins Four Communicator Awards

The winners of The 2012 Communicator Awards have been announced by the International Academy of the Visual Arts, with Memphis-based RedRover Co. being among the winners.

The company earned the Gold Award of Excellence, IAVA’s highest honor, for Lori Turner-Wilson’s Guerrilla Sales & Marketing newspaper column that appears weekly in The Daily News and The Memphis News.

RedRover also landed three Silver Awards of Distinction – for “Marketing Effectiveness” and “PR Excellence” for Bleu Restaurant and Lounge’s launch campaign, as well as for “Marketing/Promotion Excellence” for the creative theme and invitation design for MED Night, A Soul Celebration – an annual gala held by long-time client, The MED Foundation.

This is the second year RedRover has been honored with International Communicator Awards.

– Sarah Baker

Habitat for Humanity Preps for Home Builders Blitz

Habitat for Humanity of Greater Memphis, the Memphis Area Home Builders Association and Emmy Award-winning television personality Steve Thomas will join forces Monday, June 4, to kickoff Habitat for Humanity International’s Home Builders Blitz 2012.

Thomas, former host of home improvement show “This Old House,” will work alongside Memphis Habitat and local homebuilding professionals to raise walls on homes in Memphis Habitat’s Trinity Park development, where five homes will be built between June 4 and 8.

Participating MAHBA builders include Chamberlain & McCreery LLC, Grant & Co., Hallmark Builders, Klazmer-Sklar LLC, Reid Homes Inc. and Vintage Homes LLC.

Habitat’s Home Builders Blitz is a partnership between Habitat affiliates and the building community to build and renovate homes across the country.

Builders and Habitat affiliates work closely together to organize all aspects of building, including securing subcontractors and suppliers, fundraising and seeking donations of materials.

Builders participating in the program this year will work with more than 80 Habitat affiliates, and the nationwide project seeks to build and renovate more than 200 homes, including 63 in Tennessee.

– Aisling Maki

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 327 11,765
MORTGAGES 76 371 15,350
FORECLOSURE NOTICES 28 99 3,010
BUILDING PERMITS 382 972 28,226
BANKRUPTCIES 65 345 11,307
BUSINESS LICENSES 19 117 4,155
UTILITY CONNECTIONS 184 700 17,184
MARRIAGE LICENSES 20 100 3,564

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