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VOL. 127 | NO. 76 | Wednesday, April 18, 2012

Daily Digest

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Shops of Laurelwood in Foreclosure

A first-run foreclosure notice has been filed for the Shops of Laurelwood, a Class A shopping center on Perkins Road Extended, after property owner Z Investments LLC defaulted on a $1.7 million loan through LaSalle Bank. The notice was published in the Tuesday, April 17, edition of The Daily News.

A foreclosure sale is set for May 9.

Built in 1959, the 10,770-square-foot center at 402 S. Perkins Road Extended and 406 S. Perkins Road Extended is anchored by El Mezcal Mexican restaurant. It is on 0.8 acres on the east side of Perkins Extended north of Poplar Avenue and south of Aldersgate Road, if that road were extended, in the Laurelwood Shopping Center subdivision. The Shelby County Assessor of Property’s 2011 appraisal was $837,400.

Memphis-based EZR Management Inc. manages the center, formerly known as Perkins Plaza.

Z Investments, which bought the center in December 2005 for $2 million, lists a residential address in the Los Angeles area.

The company’s $1.7 million loan through LaSalle, taken out in August 2006, is currently held by Perkins Laurelwood LLC, the entity that has initiated foreclosure proceedings. Allison T. Gilbert and William P. Moss III are the substitute trustees appointed by Perkins Laurelwood.

The first-run notice is available in Tuesday’s Daily News and at memphisdailynews.com. It is scheduled to run again April 24 and May 1.

Source: The Daily News Online & Chandler Reports

– Daily News staff

FedEx Corp. in Talks to Buy French Shipper

Memphis-based FedEx Corp. is in negotiations to buy Tatex, a 36-year-old French shipping company that focuses on heavy shipments of parts and technology across France.

Neither company released any further information about the talks, which surfaced Tuesday, April 17.

FedEx has its European hub in Paris. Tatex operates a central hub near Paris and has more than 1,000 employees.

Word of the acquisition talks comes the same month that FedEx and Opek Sp.z.o.o signed an agreement in which FedEx acquired the Polish courier company.

Like Tatex, Opek has a domestic ground network.

In the current fiscal year, FedEx Express has opened 26 new stations across Europe in a move to not only link Europe to other continents but to become a domestic carrier on the continent.

– Bill Dries

Election Commission Sets Aug. 2 Ballot

The Shelby County Election Commission meets Wednesday, April 18, at 4:30 p.m. to certify the names of candidates on the Aug. 2 election ballot.

Candidates in the primaries for the Tennessee Legislature and U.S. House and Senate as well as the nonpartisan countywide school board races and Millington city elections had until April 5 to file their qualifying petitions and Thursday, April 12, to withdraw if they wished.

The list of contenders after the second deadline totaled 67 candidates not counting the statewide race for the U.S. Senate in which Republican incumbent Bob Corker is seeking re-election. He has four challengers in the GOP primary, eight Democrats and five independents.

The Shelby County ballot also includes general election contests for Shelby County district attorney general, General Sessions Court clerk, assessor of property and Shelby County Commission District 1 Position 3. The Republican and Democratic contenders in those races were decided in the March county primaries.

Early voting begins July 13.

– Bill Dries

Minority Biz Council Receives Designation

The U. S. Department of Commerce Minority Business Development Agency (MBDA) has named The Mid-South Minority Business Council Continuum (MMBC) the first MBDA Business Center in the state of Tennessee.

U.S. Rep. Steve Cohen, D-Memphis, announced the designation Monday, April 16, at a press conference at MMBC Continuum Office’s, 158 Madison Ave.

The MMBC Continuum will join the more than 35 MBDA Business Centers across the U.S., each strategically located in areas with significant levels of minority population and minority-owned firms.

The main objective of MBDA Business Centers is to provide strategic business consulting services to minority firms to increase public and private sector contract opportunities and capital investments, hopefully resulting in the creation and retention of jobs.

MMBC is a non-traditional, business-to-business, economic development agency committed to empowering and assisting scalable minority and women-owned businesses to grow and create jobs by providing quality goods and services to corporate partners.

– Aisling Maki

PRSA Honors White as Professional of the Year

Beena White, chair of the 2012 Vox Awards Committee and founder of cocoabeens communications, was named Professional of the Year Friday, April 13, at the University Club of Memphis.

The honor is presented to a member of the Memphis Chapter of the Public Relations Society of America for exceptional professional contributions.

“Beena always gets the job done and makes it look easy, but she puts a great deal of effort and thought into everything she does,” said Christina Meek, communications specialist for the Greater Memphis Chamber, in presenting the award. “She proves how powerful PR can be.”

White was also instrumental in bringing the awards ceremony back after a year hiatus.

“The last one was in fall 2010,” White said. “We surveyed the membership about all aspects of Vox, and one of the frequent comments was that the program should be in spring. Rather than rush through a quick process and host a spring 2011 event, we took time to research best practices and refine our entire program.”

– Sarah Baker

United Housing to Hold Evening at the Theater

United Housing will host its “An Evening at the Theater” on Thursday, April 19, consisting of a dinner and a special viewing of “Present Laughter” – a comedy based in the 1940s that the New York Times calls, “sharp, withering and funny.”

The reception starts at 5:30 p.m. at Circuit Playhouse, 51 S. Cooper St. Curtain call is 7 p.m. There will also be chances to win prizes like a Redbird’s box and gift cards.

United Housing programs have counseled more than 6,5000 families that have resulted in the sale of more than 2,200 homes for a total impact of more than $190 million in the Memphis community.

“An Evening at the Theatre” is open to the public. Proceeds benefit UHI’s upcoming programs and services.

For more information and tickets, contact Amy Schaftlein at 728-6937 or aschaftlein@uhinc.org.

– Sarah Baker

New Mattress Firm Store Opens at Wolfchase

A leading specialty mattress retailer has opened a new store in Wolfchase Galleria.

The Mattress Firm store will display a selection of Tempur-Pedics as well as memory foam beds, including popular brands like iComfort by Serta and Sealy. The store also will carry accessories including Tempur-Pedic pillows and slippers, Protect-a-Bed mattress covers and DreamFit sheets.

To celebrate the opening, the store will offer sales and specials and will be giving away free Tempur-Pedic slippers with a mattress purchase until April 30.

– Andy Meek

DUI Proposal Headed to Governor

A proposal that increases the penalty for drunken driving when a child under 18 is a passenger in the vehicle is headed to the governor for his consideration.

The measure sponsored by Republican Rep. Tony Shipley of Kingsport was unanimously approved 94-0 in the House on Tuesday. The companion bill unanimously passed the Senate 32-0 last month.

Under present law, a person arrested for DUI with a child under 18 in the vehicle is sentenced to a mandatory minimum incarceration of 30 days and a fine of $1,000.

The proposal requires such incarceration be served consecutively with any sentence for convictions of DUI, vehicular assault, vehicular homicide, or aggravated vehicular homicide.

– The Associated Press

PROPERTY SALES 106 318 6,336
MORTGAGES 131 363 7,084
BUILDING PERMITS 178 482 13,795
BANKRUPTCIES 40 208 4,301