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VOL. 121 | NO. 163 | Tuesday, August 22, 2006

Daily Digest

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Chumney Gears up to Run Against Herenton in '07

     It's official - sort of.
     In conversation with a group of constituents over the past weekend, Memphis City Councilwoman Carol Chumney gave credence to what's been the conventional wisdom for a while now - that the maverick council member is gearing up for a run in 2007 against incumbent Willie Herenton to be the city's next mayor.
     Specifically, what Chumney has begun telling people is she's preparing to run, which is not the same as the formal announcement that would precede the official start of any campaign she wages. But the ball is rolling,
     and this week she will begin to put together a committee that will consult with her in a mayoral bid.
     "What I'm telling people is that I'm preparing to run for mayor, and I'll make a formal announcement later," she said Monday. "For a formal announcement, I'll issue a press release and have some remarks to make, but right now all I'm telling people is that I'm preparing to run."
     Chumney, who was elected to the council in October 2003, represents District 5, which includes parts of Midtown and East Memphis.

South Pointe Townhomes Sells for $3.1 Million

     Raymond Porter has purchased the 124-unit South Pointe Townhomes at 1500 E. Shelby Drive from South Pointe Investments LP for $3.1 million. Built in 1973, the complex is on the north side of Shelby Drive between Millbranch Road and Elvis Presley Boulevard. It has two-bedroom, 1.5-bathroom units in two-story buildings, plus an office and clubhouse building. Porter filed a $2.5 million mortgage through EverBank. The Shelby County Assessor's 2006 appraisal was $2.2 million.

Imation Opens Southaven Facility

     Minnesota-based Imation Corp. held a grand opening ceremony Monday for its new Memphis-area distribution center.
     The 364,000 square-foot Imation opened in Stateline Business Park in Southaven. The new facility will serve Imation's customers across North America.
     Atlanta-based real estate developer Industrial Developments International (IDI) developed and owns the Stateline Business Park, which is less than 10 minutes from Memphis.
     With the opening of the Southaven Distribution Center, Imation will consolidate its former Memorex brand distribution centers in Winchester, Va., Ontario, Calif., and Collierville, Tenn., along with Imation's former Kansas City, Mo., operation into one streamlined facility.
     Imation acquired Memorex earlier this year for $330 million.
     Imation offers a broad portfolio of data storage products. The Southaven Distribution Center will serve as the company's national hub for distributing its magnetic tapes, diskettes, CDs, DVDs and removable hard disk drives across its full line of brands.
     The distribution center will be fully operational by the fourth quarter of 2006.

Marketing Rebounds For Tim Duncan

     Former University of Memphis basketball player Tim Duncan has opened a PRstore franchise at 6139 Poplar Ave.
     Duncan, his wife, Lisa, and their partner, Veronica Walton, are co-owners of the store, which will offer marketing products and services including brochures, print ads, newsletters and press releases.
     As part of a grand opening promotion, PRstore is launching BandAid, a competition for small businesses that need a marketing makeover.
     PRstore will redesign the winning company's logo and provide 250 copies each of branded letterhead, envelopes, business cards and pens, and will schedule an hour of branding consultation.
     The Memphis PRstore is part of a national franchise headquartered in Charlotte, N.C.
     Duncan is providing marketing support for the group led by Rev. L. LaSimba Gray that is working to get funding to open the African American Museum of Memphis in the former Mississippi Boulevard Christian Church at 974 Mississippi Boulevard Downtown. He also founded InfraRed Marketing in 2004.
     "InfraRed Marketing is our event-marketing arm that does events like trade shows, nightlife events, golf tournaments and things like that," Duncan said. "Most of those clients are out of town and they're larger clients like Verizon Wireless, R.J. Reynolds and we've done a couple of things for International Paper."
     PRstore was opened to reach small-business consumers.
     "We want to really try to help small businesses in Memphis by being their entire marketing department," Duncan said.
     For more information, visit www.prstore.com or call 767-3200.

Northwest Airlines Expands Worldwide Service

     Northwest Airlines will be expanding its worldwide service through a code-sharing partnership with Air France, according to an announcement.
     A code share is a partnership between airlines in which one airline sells service and places its code on another carrier's flights.
     The code-sharing agreement becomes effective Sept. 2, and will benefit Northwest customers traveling through the airline's Detroit hub and Air France's customers at Charles de Gaulle Airport.
     The partnership will provide customers of the two airlines with easier travel to more than 50 destinations in Europe, Africa, the Middle East and more than 25 destinations in North America.
     The code share eventually will expand to several cities beyond Detroit, said Northwest spokesman Roman Blahoski. A full list of the cities that may be included in the code share is not yet available, Blahoski said, but hub cities such as Memphis and Minneapolis most likely will be included.
     In addition to Memphis, Minneapolis and Detroit, Northwest also operates hubs in Tokyo and Amsterdam, and has approximately 1,200 daily departures.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 109 199 999
MORTGAGES 112 243 1,195
FORECLOSURE NOTICES 6 57 152
BUILDING PERMITS 129 448 1,653
BANKRUPTCIES 59 144 635
BUSINESS LICENSES 58 132 298
UTILITY CONNECTIONS 27 55 392
MARRIAGE LICENSES 0 0 82

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