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VOL. 121 | NO. 131 | Wednesday, June 28, 2006

Daily Digest

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Pizza Hut Finances Several Local Restaurants

    NPC International Inc., the world's largest franchisee of Pizza Hut restaurants, has filed a $26.7 million mortgage for Tennessee Pizza Hut locations. The lenders included JPMorgan Chase Bank NA, Merrill Lynch, Pierce, Fenner & Smith Inc., Bank of America NA and SunTrust Bank. The financing is related to the sale of NPC to Merrill-Lynch Global Private Equity Group May 3. NPC operates about 800 stores in 26 states.
    The original price of the loan for the Tennessee properties was $30.1 million, although the deed filed with the Shelby County Register of Deeds Office June 23 subtracted prior mortgages filed on five Shelby County stores, along with two in Gibson County and one each in Chester and Weakley counties, for a total listed price of $26.7 million. The Shelby County properties financed include stores at 4630 American Way, 714 Germantown Parkway, 6090 Winchester Road, 6072 Stage Road and 2342 Frayser Blvd.
    The financings are part of a $375 million mortgage NPC filed for property across the United States. The total collateral, or property put up for mortgage nationwide, is $193.3 million, of which $15.5 million is in Tennessee.

Hooks Recognized As Social Innovator

    Dr. Benjamin L. Hooks has been named one of 15 finalists in Civic Venture's first-ever "Purpose Prize."
    The San Francisco-based think tank and program incubator began the new initiative to recognize and invest in Americans older than 60 who are "leading a new age of social innovation," the company announced.
    As a finalist, Hooks is being recognized for his efforts in preventing childhood exposure to lead poisoning.
    Working with former Secretary of Housing and Urban Development Jack Kemp, Hooks founded the Children's Health Forum and selected lead poisoning as its focus.
Hooks and Kemp worked with Congress to secure a $50 million appropriation for use in communities with the highest incidence of childhood lead poisoning.
    Each finalist initially will receive Purpose Prize award money totaling at least $10,000.
    Additionally, five finalists also will win $100,000 each in September.
    The Atlantic Philanthropies Foundation and the John Templeton Foundation provided funding to Civic Ventures for the prize program.
    Civic Ventures will announce the five Purpose Prize winners in September, during a weeklong summit on innovation at Stanford University in Stanford, Calif.

Local Marketing Firm Named Among Best Places to Work

    Memphis-based full-service advertising agency archer>malmo has been ranked as one of the 25 Best Small Companies to Work For in America for the third consecutive year. archer>malmo was ranked 22nd on the list that was compiled by the San Francisco-based Great Place to Work Institute Inc.
    This is the third annual release of the list recognizing the top 25 small companies (50-250 employees) to work for in America.
    The organization also compiled a list of the top 25 medium companies (251-999 employees) to work for in America. No Memphis-based companies made the cut for that list.
    The rankings were released during the Society for Human Resource Management's (SHRM) 58th Annual Conference & Exposition in Washington.
    The Great Place to Work Institute is a global research and consulting firm that worked with Fortune Magazine, HR Magazine and other leading publications in 28 countries around the world to publish and recognize the "Best Companies to Work For."
    The entire list and other related stories will be published in the July issue of HR Magazine. It can also be viewed online at www.shrm.org/hrmagazine.

Tennessee Arts Commission Offers Grant Opportunities

    The Tennessee Arts Commission has announced the formation of two new arts education grant categories that will be available starting Saturday.
    The new grant categories - Arts Education Mini-Grants and Teacher Incentive Grants - were created after a year-long agency assessment determined there was a need for more grant opportunities.
    The Arts Education Mini-Grant category is designed to introduce new applicants to the grant-making process, help applicants who are new arts education providers and provide support to applicants with unanticipated short-term or one-day arts education projects.
    The Teacher Incentive Grants will provide stipends to educators who would like to attend professional development training opportunities that help them infuse arts into their general curriculum.
    Complete guidelines and applications for the grant opportunities will be available Saturday on the Web site, www.arts.state.tn.us.
MORTGAGES 54 374 1,120
BUILDING PERMITS 177 767 2,425