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VOL. 129 | NO. 64 | Wednesday, April 02, 2014

Daily Digest

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Millington Dollar General Sells for $3.2 Million

The 9,301-square-foot Dollar General store at 8021 Austin Peay Highway in Millington has sold for $3.2 million.

Cash Properties LLC bought the retail property in a March 25 warranty deed from Ware Properties LLC, the Coldwater, Miss.-based company that developed this property and also has developed numerous Dollar General stores in the area.

Built in 2013, the Class B store sits on 3.2 acres along the west side of Austin Peay Highway, just north of its intersection with Millington-Arlington Road. The Shelby County Assessor of Property’s 2013 appraisal was $534,900.

Ware Properties bought the then-vacant land in 2012 for $88,000 from First Citizens National Bank.

In conjunction with this latest transaction, Cash Properties filed a $2.7 million trust deed through Twin Lakes Community Bank. Charles Philip Hurst and Nancy L. Hurst signed the deed as trustees of the Hurst Family Trust, which is a member of the borrower.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Candidates Observe April Fools’ Day

A busy week on the local political calendar that includes April Fools’ Day proved to be too much for a few local politicians.

Shelby County Commissioner Steve Mulroy announced he was withdrawing from the Democratic primary for Shelby County Mayor in May to become corporate public relations director for the Kellogg’s Corp.

“In addition, I hope to leverage assets to save historic structures by replacing them with retail parks,” Mulroy wrote in the prank press release, which directed those seeking more information to Carl Munchausen.

Democratic Tennessee State Rep. Antonio Parkinson of Memphis wasn’t quite as elaborate.

He tweeted that he was going to enter the Democratic primary for the 9th Congressional District, but ended the tweet with, “Is today April 1st? #gotcha #AprilFools.”

– Bill Dries

Sam Moore Records Song to Honor King

Veteran singer Sam Moore of the soul duo Sam & Dave is releasing a song in remembrance of Martin Luther King Jr. to coincide with the anniversary of the civil rights leader's death.

Known as the "Legendary Soul Man," Moore teamed with producer Lawrence "Boo" Mitchell and studio musicians to record "They Killed a King" in Memphis in January. Mitchell is the son of the late Willie Mitchell, an influential producer who worked with soul artist Al Green and others at Hi Records in Memphis.

The song is being released Friday, April 4, the 46th anniversary of King's assassination. King was shot while standing on the balcony of the old Lorraine Motel in Memphis.

Moore and his Sam & Dave singing partner, the late Dave Prater Jr., recorded several soul and R&B hits such as "Soul Man" and "Hold On, I'm Comin'" at Stax Records. "They Killed a King" is reminiscent of those songs, with a prominent horn section and upbeat rhythm. Moore's voice stills sounds strong and soulful.

The song was written by Bobbejaan Schoepen, a Belgian, and musician Mel Turner in the aftermath of King's assassination. The song's chorus says of King: "You know he fought for love and freedom, he fought for all mankind."

Moore knew King and performed at many of his speeches and rallies. He said he wanted to record the song to remind people of King's message of peace, equality and respect.

"I'm just an old-fashioned gospel singer that honored him and respected him and his memory," Moore told The Associated Press on Monday.

Moore is scheduled to perform "They Killed a King" at Stax Academy in Memphis on April 26.

– The Associated Press

Children’s Commission Wants Pre-K Expansion

The Tennessee Commission on Children and Youth is recommending the state expand its pre-K and home visitation programs to help youth be more successful in school and life.

The commission is basing its recommendations on a policy report released Tuesday by the Annie E. Casey Foundation's Kids Count project.

The report identifies opportunity disparities between racial and ethnic groups and recommends ways to address them.

Besides pre-K and home visitation, the commission says programs like family resource centers also provide foundational opportunities for children to be successful.

The report recommends expanded and improved data collection, and encourages analysis and use of this data to yield the greatest impact on eliminating opportunity gaps.

The commission is a state agency created by the Tennessee General Assembly. Its primary mission is to advocate for improvements in the quality of life for Tennessee's children and families.

– The Associated Press

US Manufacturing Grew More Quickly in March

U.S. manufacturing grew at a slightly faster pace in March compared with February as factory output recovered from disruptions caused by severe winter weather. Manufacturers also received more orders, suggesting that production could strengthen a bit in the months ahead.

The Institute for Supply Management, a group of purchasing managers, said Tuesday that its manufacturing index increased to 53.7 from 53.2 in February. Any reading above 50 indicates expansion.

The increase suggests that manufacturing is growing at a steady but modest pace after cold winter weather caused a sharp slowdown in the first two months of the year.

Even so, factories are hiring at the slowest pace in nine months, the survey found. The government will release its official jobs report for March on Friday.

Manufacturing activity had plunged in January as harsh snow storms shut down factories and disrupted supply shipments. It rebounded slightly in February as orders and stockpiles grew. But a measure of production plummeted in February to a five-year low. That measure recovered all its losses in March.

The overall index remains below the level that prevailed in the second half of last year, when it regularly topped 56.

"There's still some catching up to do," said Jennifer Lee, an economist at BMO Capital Markets. "But at least it is heading in the right direction."

– The Associated Press

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 242 14,959
MORTGAGES 111 255 19,585
FORECLOSURE NOTICES 21 43 3,838
BUILDING PERMITS 153 512 35,842
BANKRUPTCIES 61 182 14,216
BUSINESS LICENSES 18 104 5,095
UTILITY CONNECTIONS 76 246 21,679
MARRIAGE LICENSES 16 75 4,632

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