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VOL. 121 | NO. 177 | Friday, September 08, 2006

Daily Digest

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Graceland-Area RV Park Sells for $3.8 Million

     Memphis-Graceland RV Park & Campground LLC has bought Memphis-Graceland RV Park & Campground at 3691 Elvis Presley Blvd. from RVW Park LLC for $3.8 million.
     The purchase includes two parcels totaling nearly 19 acres. The first is the park itself, which sits on 4.45 acres behind Heartbreak Hotel and includes a 1,692-square-foot clubhouse built in 1989. The second is more than 14 acres adjacent to the park. The Shelby County Assessor's 2006 combined appraisal of the properties is $961,200.
     The park also has some small camping cabins and free wireless Internet access throughout, according to its official Web site, www.memphisgracelandrvpark.com. The Tennessee Secretary of State Aug. 30 granted Memphis-Graceland RV Park & Campground LLC limited liability company status.
     

Med Could Have Decision Soon About Medicare Funding

     Inspectors from the Tennessee Department of Health were dispatched to the Regional Medical Center at Memphis Wednesday and Thursday to check on the embattled hospital's progress on correcting problems that threatened to terminate its $35 million in annual Medicare funding.
     The violations, which recently were detailed in reports from the Atlanta office of the Centers for Medicare & Medicaid Services (CMS) and the Tennessee Department of Health, include leaving a foreign object in a patient during surgery, performing the wrong procedure and three sexual assaults of patients in the past 11 months.
     Earlier this week, CMS accepted terms of a Plan of Correction hospital officials submitted Sept. 1.
     Changes outlined in the plan include returning the hospital's jail diversion unit to its original location within The Med and hiring a medical director.
     State officials were inspecting the facility and following up to make sure all corrections were being made.
     Hospital officials predict Thursday's visit was the final one, said Sandy Snell, The Med's vice president of communications. Inspectors have to turn in a report of their findings to CMS by today.
     The hospital has until Saturday to make changes and hold onto the $35 million in funding.
     

Northwest Flight Attendants Being Recalled

     More than 1,100 Northwest Airlines flight attendants are being recalled from both voluntary and involuntary layoffs made last year, according to an Associated Press story.
     The move came after the financially strapped airline filed for Chapter 11 bankruptcy in September 2005. The airline also imposed $195 million in cuts on flight attendants earlier this year, part of its continuing effort to emerge from bankruptcy.
     Anticipation that more people will fly in the remainder of 2006 and 2007 is the motive behind the recall.
     Also, the airline plans to bring back an undisclosed number of pilots to its operations, including the Northwest Airline hub in Memphis.
     Airline officials will consider flight attendants who don't respond to the involuntary recall as having resigned, according to the Northwest Flight Attendants' union Web site. Recalled workers will fill permanent vacancies beginning in October.
     The troubled airline was faced with a possible strike by flight attendants last month.
     A New York judge temporarily blocked members of the Association of Flight Attendants from going on strike. The group is awaiting the judge's ruling on whether they can move forward with the walkout.
     

Memphis Brewery Comes Under New Ownership

     More than a year after Molson Coors Brewing Co. announced plans to close its Memphis brewery, the plant at 5151 E. Raines Road now has come under new ownership.
     Chism Hardy Enterprises LLC, an investment group led by former plant manager Carolyn Hardy, completed the purchase of the brewery and its equipment Wednesday, according to a statement released by Denver-based Molson Coors.
     The company's executives and those at Chism Hardy also negotiated an agreement that will allow the Memphis facility to serve as a distribution center for Coors products.
     Financial terms of the deal were not available.
     "We haven't disclosed that amount," said Paul de la Plante, media spokesperson for Molson Coors. "It's a private transaction between that group and us and we've just agreed that we wouldn't disclose the amount."
     Phone messages left at the Memphis plant were not returned by press time.
     Last month, Hardy and the group of unnamed investors received an eight-year payment-in-lieu-of-taxes (PILOT) freeze from the Memphis and Shelby County Industrial Development Board.
     When the group applied for the PILOT, they promised 255 jobs and a capital investment of about $14 million.
     

Triumph Breaks Ground On Corporate Headquarters

     Triumph Bank recently broke ground on its second branch location and corporate headquarters, which will be at 5699 Poplar Ave. in the Poplar Pointe center at Poplar and Interstate 240.
     Triumph opened its first location in Germantown in June. The bank was organized by more than a dozen Memphis investors last year.
     The 4,400-square-foots space at 2171 Judicial Drive serves as a branch and temporary headquarters.
     Corporate headquarters are expected to be ready to open during the first quarter of 2007.
     To date, Triumph Bancshares Inc. has raised about $20.5 million in capital through 437 stockholders and has 18 full-time employees.
     "Triumph Bank's primary focus is on the banking needs of the community," said William J. Chase Jr., president and CEO of Triumph, in a company statement. "We plan to set the standard for excellence in the delivery of financial services to individuals, professionals and small- to medium-sized businesses in the Memphis market."
     

Millar to Manage Clear Channel's Newly Formed Southern Region

     Craig Millar has been promoted to senior vice president of Clear Channel Television's newly formed Southern Region. The announcement was made Thursday and was effective immediately.
     Millar will oversee all of Clear Channel's television stations in the Southeast and Southwest Groups, including the Memphis market. Millar will continue to manage markets in Tulsa, Okla., Wichita, Kan., Little Rock, Ark., and San Antonio, Texas. In his new position, he also will manage markets in Mobile, Ala., Memphis and Jacksonville, Fla.
     Clear Channel operates three stations in Memphis - UPN 30, UPN 16 and ABC 24.
     San Antonio-based Clear Channel owns or operates 40 stations nationwide.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 312 16,192
MORTGAGES 0 293 18,685
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 655 33,126
BANKRUPTCIES 0 237 10,737
BUSINESS LICENSES 0 112 5,198
UTILITY CONNECTIONS 0 127 11,344
MARRIAGE LICENSES 0 94 3,867

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