» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation LinksHome >
VOL. 128 | NO. 132 | Tuesday, July 09, 2013

Daily Digest

Print | Front Page | Email this story | Comments ()

Westside Mobile Home Park Sells for $3.3 Million

Westside Mobile Home Park at 8393 U.S. 51 N. in Millington has sold for $3.3 million. Jason W. Hutchison and Angela B. Hutchison, doing business as Trio Properties, purchased the 36.3-acre site in a July 1 warranty deed from Forbess Properties, a partnership between Robert A. Forbess and Michael E. Forbess.

Developed in 1969, the Class C park is on the west side of U.S. 51 between Wilkinsville Road to the north and Cuba Millington Road to the south. The Shelby County Assessor of Property’s 2013 appraisal is $1.2 million.

The buyers filed two loans in conjunction with the purchase: a $2.5 million trust deed through InSouth Bank that matures in July 2018 and a $2.3 million trust deed through Forbess Properties that does not list a maturity date.

Forbess Properties bought the property in 1996 for $1.7 million.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Early Voting Tops 3,500 Through Saturday

Early voting in advance of the July 16 election day in the six suburban towns and cities in Shelby County topped 3,500 through Saturday as the early voting period moves into the home stretch.

Voting on the municipal school districts referendum questions opened Saturday at sites in Germantown, Collierville and Bartlett resulting in the largest daily turnout since the early voting period opened June 26.

A total of 2,084 citizens in the suburbs voted Saturday for an overall total for the period of 3,670.

The early voting site at Collierville Church of Christ had 780 early voters followed by 725 at New Bethel Baptist Church in Germantown and 577 at Bethel Church in Bartlett. Two citizens voted early at Downtown Election Commission headquarters, 157 Poplar Ave.

Voters from any of the six suburban towns and cities can vote at any of the locations through Thursday, which is the last day of the early voting period.

– Bill Dries

Methodist to Begin $33.5 Million ER Expansion

With demolition winding down, Methodist University Hospital is poised to begin construction of a $33.5 million expansion and renovation of its emergency department.

The expanded emergency department will add 93,000 square feet of new space and 6,200 square feet of renovated space. Once complete, the expanded emergency department will add 16 patient treatment areas, bringing the total to 54.

As part of the renovation process, the main entrance to the hospital will be temporarily relocated from its current location off of Eastmoreland Avenue to off of Bellevue Boulevard.

A new circle drive is being created off of Bellevue to allow vehicle drop-off access during construction. Pedestrian access to the new entry will be available from the marked walkway along Bellevue. The entry point to the marked walkway is at the corner of Eastmoreland and Bellevue.

Entry to the existing emergency department on Eastmoreland will remain unchanged.

– Jennifer Johnson Backer

Wells Fargo Holds Home Preservation Workshop

Wells Fargo is holding a free Home Preservation Workshop in Memphis for troubled homeowners.

Wells Fargo has invited 1,250 mortgage customers to the free workshop, which will be held Thursday, July 11, from 9 a.m. to 7 p.m., at the Memphis Cook Convention Center. About 75 Wells Fargo home preservation specialists will be on hand to answer questions, make alternative arrangements and offer help where possible to any homeowner whose mortgage is linked to Wells. That would include people who have mortgages through Wells Fargo Home Mortgage, Wachovia Mortgage, Wells Fargo Financial and Wells Fargo Home Equity.

Homeowners who owe more on their mortgage than the value of their home could be eligible to refinance their loan based on criteria including demonstrating ability to repay. Depending on eligibility for a loan modification, homeowners who are behind on their payments may also receive a principal reduction on their mortgage.

Walk-ins are welcome, but Wells Fargo recommends people register to guarantee the ability to meet one on one with a representative. Customers should register by July 9 at www.wfhmevents.com/leadingthewayhome or call 1-800-405-8067 for more information.

– Amos Maki

Memphis' First Logistics Hackathon in the Works

Preparations are underway for the launch of Memphis’ first logistics hackathon.

It will happen sometime this fall with the date still to be determined, and it’s being spearheaded by the Memphis Bioworks Foundation and Start Co.

The idea is for developers and logistics professionals to come together for a weekend of competitive designing and coding. They’ll tackle logistics challenges faced by large companies like FedEx and will have the opportunity to work with application programmer interfaces to develop logistics solutions.

Additionally, Memphis Bioworks and Start Co. have been planning to launch a new logistics accelerator that would be similar to the existing ZeroTo510 accelerator, which focuses on medical device startups.

– Andy Meek

Thomson Reuters Suspends Early Data Access

Thomson Reuters will suspend its practice of distributing results from consumer surveys a couple seconds early to clients who pay the news and business information provider for advance access.

A company spokeswoman said Monday that Thomson Reuters will simultaneously distribute survey data at 9:55 a.m. starting Friday from the University of Michigan Surveys of Consumers after the New York State attorney general requested the suspension.

The attorney general’s office is investigating the early data access, and Thomson Reuters said it is cooperating with that review.

That twice-monthly survey is separate from the consumer confidence index produced by the private research group the Conference Board.

Thomson Reuters pays for exclusive access to the University of Michigan results, and some of its clients have been paying extra to receive the data two seconds before other clients receive it at 9:55 a.m. This allows high-speed computers to make trades before others gain access to the data.

Thomson Reuters then sends out a news release about the survey at 10 a.m.

Modern stock trading is dominated by automated computer systems that make trades in fractions of a second, and traders can profit from receiving data even milliseconds before its public release. Consumer sentiment regarding the economy is watched closely because consumers’ spending accounts for about 70 percent of U.S. economic activity.

The attorney general’s office said in a statement the two-second edge that Thomson Reuters gives to some high-frequency traders amounts to an unfair advantage as those traders “execute enormous volumes of trades in the blink of an eye.”

Thomson Reuters said separately it “strongly believes that news and information companies can legally distribute non-governmental data and exclusive news through services provided to fee-paying subscribers.”

– The Associated Press

Teacher Salary Plan Raises Concern

A decision by the state Board of Education to change how teachers are paid has led to a social media push to remove Education Commissioner Kevin Huffman.

The Tennessean reports the creation of two Facebook pages calling for Huffman’s ouster as well as a Change.org petition that has hundreds of signatures.

Huffman’s ouster would be unlikely, as Gov. Bill Haslam, state education board chairman Fielding Rolston and outside education advocates came to his defense. Rolston noted it was the board’s decision, not Huffman’s.

The board approved the changes last month after supporters and opponents argued for two hours over the matter. The measure changes the minimum teacher salary schedule, reduces steps in salary increases from 21 to four and eliminates incentives for doctorate degrees and post-master’s training.

“I think we’ve made it abundantly clear we asked him to do this,” Rolston said.

Haslam released a statement in support of Huffman.

– The Associated Press

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog Get more from The Daily News
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 38 349 15,066
MORTGAGES 111 449 19,779
FORECLOSURE NOTICES 33 91 3,886
BUILDING PERMITS 0 512 35,842
BANKRUPTCIES 62 309 14,343
BUSINESS LICENSES 18 138 5,129
UTILITY CONNECTIONS 69 385 21,817
MARRIAGE LICENSES 13 106 4,663

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.