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VOL. 121 | NO. 238 | Monday, December 11, 2006

Daily Digest

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Circle K Closes Deal On Local Shell Stations

     Alimentation Couche-Tard Inc. through its subsidiary Circle K Stores Inc. has finalized the purchase of some Shelby County Shell stations from Shell Oil Products US affiliate Motiva Enterprises LLC.
     The deal, which was originally announced in October, included 236 Shell stations across the United States, including 16 in the greater Memphis area. Neither party disclosed financial terms of the sale. However, sale documents filed with the Shelby County Register's Office as of Friday included seven Shell stations in Shelby County totaling $7.4 million, plus one station for which Circle K took over the lease from Motiva.
     The purchased stations are at 1205 S. Germantown Road, 7461 U.S. 64, 8140 U.S. 64, 508 U.S. 57, 1685 Union Ave., 2735 Kirby-Whitten Road and 360 S. Germantown Road. The leased station is at 1725 N. Germantown Parkway.
     Along with the sales, Circle K agreed to a brand covenant, meaning the company will sell only Shell-branded gasoline and diesel through November 2021.
     In October 2005, Couche-Tard announced Circle K had signed an agreement to buy 26 Memphis-region BP-branded stations from BP Products North America Inc. Sale of those stores was completed in late 2005.

MLGW Weekend Academy Receives Grants from Target, TVA

     Memphis Light, Gas & Water's Weekend Academy program has received two grants that will enable the program to continue its educational endeavors. MLGW received a $1,000 grant from Target Corp. and a $3,250 grant from the Tennessee Valley Authority (TVA) to benefit the program.
     The Target grant comes as the company appears to be eyeing property for a Midtown Memphis store, according to a Commercial Appeal report late last week. The retailer is eyeing a 12-acre spot at the intersection of Poplar Avenue and Watkins Street and is considering opening a new store in East Memphis, the report stated.
     The Weekend Academy program brings real-life learning experiences to third through fifth graders from inner-city schools. Enrichment activities at the academy focus on improving oral and written communications, thinking, reasoning and problem-solving skills, as well as improving school attendance.
     The grants will allow MLGW employee volunteers who lead the program to take 30 students from Hamilton and Cummings Elementary schools to tour the U.S. Space and Rocket Center in Huntsville, Ala., in April.
     The Weekend Academy meets twice a month. Activities include classroom instruction, related field trips and resource and volunteer speakers.

Local Attorney Holds Book Signing Tuesday at Mo's

     Local long-time attorney and solo practitioner Manuel Scarmoutsos will sign copies of his book, "Unfrocked and Unashamed," Tuesday at 7 p.m. at Mo's Music and Art Café, 3521 Walker Ave.
     The book pokes fun at local and out-of-state judges and lawyers.
     Compiling the jokes and stories for the book was a cathartic experience for him, Scarmoutsos said, as he was getting over losing his son Andrew, who was killed in a house fire in October 2000.
     "I had been saving these jokes for a long time," he said. "After my son was killed, it was good therapy for my wife and (me)."
     The book sells for $15, with a portion of the proceeds going to son Andrew's Memorial Scholarship Fund.

Rhodes College Recognized By Carnegie Foundation

     The Carnegie Foundation for the Advancement of Teaching has named Rhodes College one of 62 colleges and universities around the country that has met its standards for both curricular engagement and outreach and partnerships.
     Since 1970, the Carnegie Classification has been a leading framework for describing institutional diversity in U.S. higher education.
     "This is literally a defining moment for our college," president William E. Troutt said in a release. "A large part of our purpose is to graduate students with the ability to translate academic study and personal concern into effective leadership and action in their communities and the world. The classification means ... we're doing just that."

MBA Board Members Announced, Ready to Roll

     The Memphis Bar Association announced its 2007 officers during an event at The Peabody Hotel Thursday.
     David M. Cook of The Hardison Law Firm PC officially became the 2007 MBA president, succeeding assistant U.S. Attorney Barbara Zoccola. Amy Amundsen of Rice, Amundsen & Caperton PLLC, and Arthur Quinn of The Bogatin Law Firm PLC, automatically succeeded to the positions of vice president and treasurer, respectively. Ricky Wilkins of the Law Offices of Ricky Wilkins was announced as the 2007 secretary.
     New board members include Allen Blair of Harris Shelton Hanover Walsh PLLC; Kirk Caraway of Allen, Summers, Simpson, Lillie and Gresham PLLC; Scott Crosby of Burch, Porter & Johnson PLLC; Liz Landrigan of Martin, Tate, Morrow, & Marston PC; Barry McWhirter of McWhirter, Wyatt & Elder; Harris Quinn of Williams & Prochaska PC; Glen Reid of Wyatt, Tarrant & Combs LLP; and Linda Seely of Memphis Area Legal Services Inc.
     Returning board members include Sherry Brooks of Terminix International Co. LP; John Cannon of Shuttleworth Williams PLLC; Craig Conley of Thomason Hendrix Harvey Johnson & Mitchell PLLC; Porter Feild of Burch, Porter & Johnson PLLC; Amy Ferguson of Glankler Brown PLLC; Attorney Linda Holmes; Amy Martin of The Landers Firm; and Lang Wiseman of Wiseman Biggs Bray PLLC.
PROPERTY SALES 56 295 6,392
MORTGAGES 26 180 4,035
BUILDING PERMITS 128 840 15,361
BANKRUPTCIES 31 153 3,270