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VOL. 123 | NO. 127 | Monday, June 30, 2008

Daily Digest

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SAS Construction Files Permit for Lakeland Home

SAS Construction LLC has filed a $460,000 permit application with the city-county Department of Construction Code Enforcement to build a two-story home in The Preserve at Lakeland.

Within the past week, SAS Construction paid $155,000 for its lot from The Preserve’s developer, Anderson-Suber Development Co. LLC, and also filed a construction loan on the property for $647,600 through the Bank of Fayette County.

The address of the home will be 4025 N. Potter Woods

Cove in The Preserve, a 37.21-acre, 36-lot subdivision off Seed Tick Road in Lakeland, near the Canada Road interchange with Interstate 40.

The subdivision features access to Garner Lake and an acre and a half of natural preserve. Neil Suber, partner with SAS Construction as well as Anderson-Suber Development, said those amenities were exactly what the companies were after when they decided to develop the area and then build there.

“It’s the secluded, heavily wooded feel that we’re going for,” Suber said.

To read The Daily News’ original story on The Preserve at Lakeland, see the June 27 lead story at www.memphisdailynews.com.

Source: The Daily News Online & Chandler Reports

Meeting Planned to Discuss Fate of Royal Inn and Suites

The Memphis City Council has ordered a community meeting to discuss plans to transform the Royal Inn and Suites on American Way into a Rodeway Inn. The meeting will be held today from 6 p.m. to 8 p.m. at 3685 American Way, the site of the hotel under discussion.

Neela Hospitality has petitioned the Memphis City Council for a waiver of a special use permit. If granted, the owners, Jay Desai and Bob Patel, will renovate the old Royal Inn and Suites and reopen it as a Rodeway Inn franchise.

Hyde Family Foundations Give ArtsMemphis Matching Grant

The Hyde Family Foundations have agreed to provide a dollar-for-dollar match on all new individual ArtsMemphis memberships as well as on all new memberships through employee-giving programs and gifts from small businesses.

The Hyde Foundations are providing $75,000 to match all new individual memberships, of any amount, for a total of $25,000; and match all new memberships through employee-giving programs, as well as new small-business gifts, for up to $50,000.

Small-business gifts must be at least $250 to qualify for the match; individual employee gifts may be any amount. The Hyde Foundations also will match an employer’s match on a new employee’s membership.

The matching grant is for memberships secured during calendar year 2008.

Since 1963, ArtsMemphis has raised funds to ensure excellence in the arts and build a vibrant cultural community. In 2007,

ArtsMemphis allocated 95 percent of its annual campaign in addition to enhancement funds from the historic Memphis for the Arts campaign to award more than $4 million to the Memphis arts community.

Blackburn Warns Supporters Of Leatherwood Challenge

Marsha Blackburn is telling her supporters that she is facing her most serious challenger this year since her first run at elected office in 2002.

The U.S. representative for Tennessee’s 7th Congressional District is facing Shelby County Register of Deeds Tom Leatherwood in the Republican primary for her congressional seat. The primary election is Aug. 7.

In a note to supporters, Blackburn calls Leatherwood a “very serious opponent” who nonetheless “knows he can’t out-conservative someone with my voting record, so he kicked off his campaign with a negative attack on me and has never let up.”

She goes on to say of Leatherwood that “he is being encouraged by some of his pals in the courthouse in Memphis who resent the fact that I don’t spend more time catering to their wishes” and that she believes Democrats are urging other Democrats to vote in the Republican primary for Leatherwood.

Stanford Financial, Chairman Receive ALSAC/St. Jude Award

ALSAC, the fundraising organization behind St. Jude Children’s Research Hospital, has presented Stanford Financial Group and its chairman, Sir Allen Stanford, each with high honors for their contributions to the hospital and ALSAC.

ALSAC stands for American Lebanese Syrian Associated Charities.

Stanford received ALSAC’s highest honor, the Michael F. Tamer Award, and Stanford Financial Group received the Corporate Sponsor of the Year Award.

The Michael F. Tamer Award was created in honor of Michael F. Tamer, who served as the first chief executive officer of ALSAC and helped St. Jude founder Danny Thomas raise the funds necessary to build the hospital and maintain it during its early years.

Sir Allen Stanford received the award because of his “abiding commitment to St. Jude, (and) because of his belief that there is always one more thing he can do for the children of St. Jude,” said John P. Moses, the current CEO of ALSAC.

The partnership between St. Jude and Stanford Financial began in 2005, when Stanford began raising funds for the hospital through the sponsorship of dinners and galas in cities throughout the U.S.

Since 2005, Stanford Financial Group has become one of the hospital’s largest

corporate partners, helping to raise more than $15 million for St. Jude. The company donated $6 million in 2006 for the St. Jude International Outreach Program, which helped St. Jude share knowledge, technology and organizational skills with partner sites in Central and South America.

In 2007, Stanford assumed title sponsorship of the Memphis PGA Tour event. Previously known as the FedEx St. Jude Classic, the event is now named the Stanford St. Jude Championship.

Medtronic Names CEO To Position of Chairman

Medical device maker Medtronic Inc. said last week that William A. Hawkins, the company’s chief executive, was named to the additional position of chairman.

Hawkins’ appointment is effective Aug. 21, the day of the company’s annual meeting. At that time, Arthur D. Collins Jr., the company’s current chairman, will retire from the board.

The moves are part of a transition plan announced in February 2007. Collins joined the company in 1992 and has served as chairman since 2002.

Hawkins was named president and chief executive in August after joining the company in 2002.

In addition, Kendall J. Powell, chairman and chief executive of General Mills Inc., will become chair of the board’s corporate governance committee and serve as lead independent director, also effective Aug. 21.

Minneapolis-based Medtronic’s spinal and biologics business is based in Memphis.

PROPERTY SALES 0 210 10,146
MORTGAGES 0 214 11,160
BANKRUPTCIES 0 271 6,490