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VOL. 129 | NO. 118 | Wednesday, June 18, 2014

Daily Digest

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Brim’s Owner Files Loan on Bartlett Facility

A company whose principal owns Brim’s Snack Foods has filed a $4.3 million construction loan on its 7940 A E Beaty Drive property in Bartlett.

TBLN Investments – whose principal, Terry Brimhall, is founder and president of Brim’s parent company Brimhall Foods Co. Inc. – filed the loan April 30 through Renasant Bank. Though the loan was filed in April, the Shelby County Register of Deeds didn’t record the loan until this week.

Built in 1987, the industrial facility sits on five acres along the north side of A E Beaty Drive at its intersection with Bartlett Corporate Drive. The Shelby County Assessor of Property’s 2013 appraisal was $2.8 million.

In May, Brim’s Snack Foods leased 24,000 square feet of warehouse space to help with the distribution of its products in the Memphis area.

Brim’s inked the lease at 2950 Brother Blvd. in the Northeast submarket and will use the space primarily for Brim’s route sales operations that service grocery and convenience stores in a 100-mile radius of Memphis.

Source: The Daily News Online & Chandler Reports

– Daily News staff

School Board to Meet on Germantown TV Deal

Shelby County Schools board members meet in special session Wednesday, June 18, at 4 p.m. to take up a number of policies for the school year that begins in August.

And the board will consider a resolution that calls on the Germantown Municipal Schools board to release $235,080 in funding for the Germantown Community Television operation at Germantown High School.

Comcast and AT&T collected the money from cable subscribers for the Germantown Community Television Foundation.

The Germantown school board has cited a lack of communications with Shelby County Schools officials in not turning over the funding.

The Germantown school system also has plans to start its own broadcasting program and facility at Houston High School.

Although Germantown High School is within Germantown’s borders, it remains a part of the Shelby County Schools system in the demerger that begins with the new academic year.

School board members plan to ask the Shelby County Commission to adopt a similar resolution urging Germantown schools officials to turn over the funding.

The school board’s special meeting Wednesday comes one day after its regularly scheduled work session. A second special meeting will be held Monday, June 23, during which the board will take up a possible extension of superintendent Dorsey Hopson’s existing three-year contract.

Under state law, the board cannot vote on an extension during the period that runs 45 days before to 30 days after a school board election.

– Bill Dries

Pan Am Flight Academy Building Sold

A private investment group has purchased the Pan Am International Flight Academy office building.

Valhalla Financial bought the Memphis property, which is occupied by Pan Am's local flight academy, for $4.9 million from Road Bay Investments LLC, a subsidiary of The Allstate Corp.

The 61,418-square-foot building is at 8150 T&B Blvd., north of the FedEx Express world headquarters.

Johnny Lamberson and Terry Radford of CB Richard Ellis Memphis LLC, a subsidiary of CBRE Group Inc., represented the seller.

– Amos Maki

Sissy’s Log Cabin to Host Groundbreaking

Sissy’s Log Cabin is hosting a groundbreaking event for its Laurelwood Shopping Center store, set to open this fall.

Sissy’s is hosting the groundbreaking ceremony Wednesday, June 18, from 10 a.m. to 11 a.m. next door to Frost Bake Shop in Laurelwood. Sissy’s founder, Sissy Jones, will be on hand, along with Shelby County Mayor Mark Luttrell and representatives from the Greater Memphis Chamber.

Sissy’s, one of the South’s largest jewelers, first opened its doors in Pine Bluff, Ark., more than 44 years ago and has remained a family-owned and operated business. In addition to its Pine Bluff store, Sissy’s has locations in Little Rock and Jonesboro, Ark.

Sissy’s carries several designer lines and offers a wide selection of bridal diamonds, mountings, estate and antique jewelry, and its own custom jewelry. In-house jewelers can repair and restore jewelry, repair watches and upgrade diamonds.

– Amos Maki

Horseshoe Tunica Undergoes Major Upgrades

Extensive renovations are underway at Horseshoe Tunica, with the tweaks including more games featuring state-of-the-art technology, and an expanded and rebranded steakhouse.

Scott Barber, regional president of Caesars Mid-South, said the renovations will bring new slot games, highly integrated technology, dining and lounge improvements and a more player-friendly floor configuration.

Renovations have been underway for almost four weeks, with plans to continue through mid-July. Horseshoe Tunica already has added more than 430 slot games, new carpeting, and new signage and fixtures, including more than 100 LCD screens.

Guests can now enjoy new slot chairs and the addition of new table games. Jack Binion’s Steak House is currently being refurbished and will be rebranded as Jack Binion’s Steak upon completion. The new restaurant will include an expanded and contemporary dining area along with a refreshed menu.

Among other changes, the second-story hotel pool area has been upgraded. It features new decking, a full-service bar, cabanas and landscaping.

– Andy Meek

CEOs More Optimistic on Hiring, Sales

Optimism among chief executives of large U.S. companies has reached a two-year high, driven by a more positive outlook toward hiring and sales.

The Business Roundtable said Tuesday that its CEO outlook index rose to 95.4 in the second quarter, up from 92.1 in the first quarter. That is the highest level since the second quarter of 2012.

The positive sentiment among CEOs of some of the largest U.S. companies could bode well for hiring and growth. The U.S. economy has been adding jobs at a steady pace this year and the unemployment rate has fallen to 6.3 percent, a five-year low.

The proportion of CEOs expecting to hire in the next six months rose to 43 percent, up from just 37 percent in the first quarter.

Still, the outlook was not all rosy: the percentage of CEOs planning to invest more in their businesses fell to 44 percent from 48 percent.

The CEOs also forecast that the economy will grow at just a 2.3 percent pace in 2014. That would be better than last year's 1.9 percent growth, but below many economists' hopes at the beginning of this year that growth would reach 3 percent.

– The Associated Press

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 87 87 14,804
MORTGAGES 80 80 19,410
FORECLOSURE NOTICES 21 21 3,817
BUILDING PERMITS 142 142 35,472
BANKRUPTCIES 62 62 14,096
BUSINESS LICENSES 62 62 5,053
UTILITY CONNECTIONS 99 99 21,532
MARRIAGE LICENSES 37 37 4,594

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