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VOL. 121 | NO. 212 | Monday, October 30, 2006

Daily Digest

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Jiffy Lube Sells For $1.4 Million

     Peru Plaza Partnership, also known as Peru Plaza Co., has bought a Jiffy Lube at 8475 U.S. 64 from Tenn Lube Investors LP for $1.4 million.
          On the south side of U.S. 64 west of New Brunswick Road, the quick lube service station was built in 2000 and has about 2,500 square feet of garage-type workspace, a 700-square-foot automatic car wash and about 1,850 square feet of basement space.
          Tenn Lube Investors bought the property from Wolfe & Fields Investments LLC in 2004 for $1 million. Wolfe & Fields in 2002 began leasing the property to Heartland Automotive Services Inc., a large franchisee of Jiffy Lube locations. The rights as landlord were assigned to Tenn Lube Investors when they bought the property in 2004. No mortgage or assignment of leasing rights was filed in the Register's office at the same time as the sale to Peru Plaza.     The Shelby County Assessor's 2006 appraisal was $501,100.

Casting Director Scopes Local Talent Pool

     Los Angeles casting director Monica Cooper soon will be arriving in Memphis to audition local actors for roles in the new film "Let's Ride."
     Cooper, of Monica Cooper Casting, will be searching for a wide variety of local talent 18 and older to play some principal roles, day player roles and a wide variety of extras.
     "Let's Ride" is a comedy starring Ray J, known most recently for his character D-Mack on the television show "One on One," Shar Jackson, who played Niecy on "Moesha," and Ronnie Alvarez of "High School Musical."
     The film crew will begin shooting in Memphis in November.
     For more information about the film, read The Daily News' Oct. 18 Daily Digest at www.memphisdailynews.com.
     Headshots and resumes will be accepted by e-mail at monicacoopercasting@comcast.net  or by sending hard copies to Monica Cooper, Let's Ride, C/O The Memphis Film Commission,  50 Peabody Place, Ste. 250, Memphis, TN 38103.

Kings of Court Tourney Comes to Memphis

     The Burger King Corp. "Kings of Courts" basketball tournament is coming to the Mid-South Coliseum Saturday at 10 a.m. The three-on-three tournament takes place in 14 cities with the final game in Las Vegas on Feb. 17, coinciding with All-Star Weekend 2007.
     Teams will compete in elimination basketball games throughout the one-day event, and the winning team from Memphis will attend the championship event in Las Vegas.
     "Burger King Corporation is proud to sponsor the Kings of the Courts annual tournament," said Bob Levite, vice president for field marketing of North America at Burger King Corp. "Now in its second year, this event is a reflection of our brand's commitment to community development through sports, music and entertainment."
     The tournament, which began in Philadelphia, Pa., on July 29, has made stops in Baltimore, New York City, Chicago, Detroit, Washington, Raleigh and Charlotte, N.C., Atlanta, Birmingham and Miami.
     For more information about the tour or to sign up a team, visit www.bk3on3.com.

Zöe's Kitchen For Sale Downtown

     The Zöe's Kitchen on Monroe Avenue is up for sale.
     Though the franchise owner, Davis Lee, won't discuss his reason for selling, there is no immediate plan to close the business.
     Business brokerage firm Sam Cantor & Co. has been retained to help with the sale.
     Sam Cantor, owner of the firm, also declined to discuss details of the impending sale.
     In the eight-story, historic Brinkley Plaza business building, Zöe's Kitchen opened in spring 2004.
     Co-owners Lee and his father, Jim Lee, also might consider a partnership offer, according to a posting on the Memphis Business Journal's Web site.

St. Jude Wins Major Brand Recognition

     St. Jude Children's Research Hospital is one of the greatest brands in the country, according to the 2006 edition of the book "America's Greatest Brands."
     More than 50 other international businesses and brands are listed in the book, published by the American Brands Council.
     The book, in its fifth volume, "celebrates the achievements, the exceptional effort and outstanding work involved in maintaining a well-earned, value asset - a great brand," officials said in a statement.
     Other brands featured in the book series include FedEx Corp., The New York Times and McDonald's. St. Jude was one of three nonprofit entities chosen for this year's book.
     "We are honored to be included as one of America's Greatest Brands," said Dr. William E. Evans, director and CEO at St. Jude. "It is a tribute to all of those who support our life-saving mission and who share our story across the country and around the world."

Rajamaa Named Senior VP Of Buckeye Nonwovens Division

     Memphis-based Buckeye Technologies Inc. elected Marko M. Rajamaa to senior vice president of its Nonwovens Division, the company has announced.
     In February, Rajamaa moved to the Memphis facility from Germany, where he was in charge of Buckeye's European operations. Upon his arrival, he was named vice president of nonwovens, with the responsibility of the division's commercial and business development.
     "He's been with the nonwovens business for quite a while," said Steve Dean, Buckeye's chief financial officer. "He's got a lot of good experience and knows the business really well."
     Buckeye saw record sales and operating income in the third fiscal quarter of 2006, earning $3.8 million after taxes. Net sales in the quarter were $191.4 million, 16 percent more than the same quarter in 2005.
     The booming sales allowed the company to reduce its debt by $24 million during the quarter, a statement said.
     "We had record sales, volume and income for the division that (Rajamaa) was leading," said Chad Foreman, treasurer and investor relations manager.
PROPERTY SALES 106 318 6,336
MORTGAGES 131 363 7,084
BUILDING PERMITS 178 482 13,795
BANKRUPTCIES 40 208 4,301