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VOL. 124 | NO. 153 | Thursday, August 6, 2009

Daily Digest

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Kohl’s Files Permit To Fix Storm Damage

Kohl’s has begun work to repair the structural damage its store at 2335 N. Germantown Parkway in Cordova sustained during last week’s storm.

The big-box department store, which lost part of its roof and wall when a tornado ripped through the Wolfchase area July 30, filed a $550,000 permit application with the city-county Office of Construction Code Enforcement for the repairs.

A call to Kohl’s was not immediately returned, but Chuck Woodcock of Fort Worth, Texas-based InStar Services Group LP, the general contractor for the project, said the store hopes to be open in time for this weekend’s sales tax holiday, beginning at 12:01 a.m. Friday and ending at 11:59 p.m. Sunday.

“We’re on the accelerated schedule,” said Woodcock, who runs the InStar Services territory that’s based in Nashville. “That’s subject to a lot of different factors, so that’s not set in stone, but that’s the intent at this point.”

Woodcock said more than 120 workers affiliated with the contractor and a host of subcontractors are contributing to the repair efforts. He said this permit was related to the structural damage only and that other permits would reflect different components of the project.

The extensive storm damage occurred about a week after a cat burglar robbed the department store by sawing through its roof.

Source: The Daily News Online & Chandler Reports

MLGW Board to Consider Facility Maintenance Fee

The Memphis Light, Gas and Water Division board of directors today is scheduled to vote on a resolution that would approve the payment of a nearly $125,000 invoice from the state Department of Environment and Conservation. It is for the annual facility maintenance fee for public water systems to the state treasurer.

Also at today’s meeting, the MLGW board is scheduled to vote on a resolution approving the payment of $25,023 in annual membership dues to the Tennessee Municipal Electric Power Association.

The MLGW board meeting will begin at 3 p.m. in the boardroom of the MLGW Administration Building, 220 S. Main St.

Suit Dismissed Against Luminetx Defendant

One of two former executives that Luminetx Corp. has sued for allegedly taking secrets to a competitor is no longer a party to that lawsuit.

U.S. District Judge Samuel H. Mays Jr. has dismissed Greg Candelmo, the former vice president of sales for Luminetx, from the lawsuit. Luminetx asked for the dismissal after reaching a confidential settlement agreement with Candelmo in April.

However, the settlement has no bearing on the company’s claims against a second defendant in the same suit, Roxane Bischofberger, its former director of clinical research.

Luminetx filed the suit against the two former employees in January. It came on the heels of a prior lawsuit against Accuvein LLC over a patent dispute. The two companies settled that suit this week.

Accuvein agreed to license Luminetx technology that allows veins to be easily viewed underneath the skin. Other terms of the settlement between the two companies were not disclosed.

MAAR June Data Show Positive Pricing Trend

The Memphis Area Association of Realtors this week unveiled its June home sales report, and while sales were down from the same month a year ago, at least one positive trend emerged.

June saw the highest average sales price to date in 2009, a sign that home values are beginning to recover after months of decline.

Homes in June sold at an average price of $135,662, according to the MAAR data. Although that amount marked a 2.4 percent decline from $139,015 in June 2008, it showed improvement over the previous five months of the year.

There were 1,350 homes sold in Shelby County in June, down 18.5 percent from 1,656 homes sold in June 2008. Year to date, there have been 7,256 home sales, a 20.5 percent decline from 9,123 during the same period of 2008.

For more, visit www.maar.org. And look for July sales data from real estate information company Chandler Reports in Friday’s edition of The Daily News.

Beale Street Restaurant To Become Dance Club

The Superior Restaurant & Bar on Beale Street will be turned into a dance club by the end of September.

The Superior will become John Wehner’s Village Door Beale Street in the ownership change. Wehner has formed the group that is buying the Superior.

The new club will be modeled on his Village Door nightspot at Sandestin Golf and Beach Resort in Florida. It will feature live music as well as deejays.

The Superior features live entertainment already. Wehner is putting together a house band for the new place that is a part of the identity of other nightspots he’s owned in other cities. He opened the Sandestin club in 2002.

The Superior will get a makeover with a new light and sound system.

Wehner, whose past clubs have included a renovation of The Famous Door on Bourbon Street in New Orleans in 1992, said he plans to keep Superior chef and co-owner Danny Reynolds in the change.

Reynolds and Jimmy Silvio opened their business in 2006 in what was a Memphis police substation and museum. Before the renovation and reopening of the district in 1983, the building was Pape’s Men’s Store.

Special Election Date Set for Oct. 15

The Shelby County Election Commission has shaved 12 days off the race for Memphis mayor. The body set Oct. 15 as the special election date. The date was moved up from Oct. 27 to coincide with a special set of primary elections Gov. Phil Bredesen is expected to order to fill the District 31 State Senate seat.

Paul Stanley, a Germantown Republican, gave up the seat effective Aug. 10 after acknowledging an affair with a legislative intern that turned into an alleged extortion attempt by her boyfriend. The affair and alleged extortion attempt happened in April but went public in July with criminal charges being filed in Nashville against the boyfriend, Joel Watts.

Shelby County Schools board chairman David Pickler and state Reps. Steve McManus and Brian Kelsey have expressed an interest in the GOP nomination.

Bredesen hasn’t yet formally set the date for the election in the Senate district, which covers Cordova and parts of suburban Shelby County. But Election Commission Chairman Bill Giannini told The Daily News he is confident it will be Oct. 15.

The change in election date moves up the deadline to noon Sept. 3 for candidates in the race for mayor to file their qualifying petitions. The new deadline for any candidates to withdraw is noon Sept. 10.

While some political contenders are still mulling over a decision on joining what could be a large pack of candidates for mayor, others are already campaigning.

Methodist South Hospital Adds New Heart Monitors

Methodist South Hospital has begun using a new heart monitoring system that allows for remote and bedside data readings.

Besides allowing for faster response times by medical professionals, the monitors are also more comfortable for patients, the hospital said.

The new Drager Infinity M300 patient-worn monitor has built-in display and alarming. It runs on batteries that can be recharged at the bedside or through a multicharging system.

The previous telemetry system was using more than 1,000 batteries a month. The new system provides cost savings and reduces waste disposal.

Vaco, Tenn. Society of CPAs To Hold Education Seminar

Vaco Mid-South will partner with the Tennessee Society of Certified Public Accountants to host a continuing education seminar for area professionals Tuesday.

The seminar will begin at 1:30 p.m. at the Fogelman Conference Center at the University of Memphis. Gary Brown of Baker, Donelson, Bearman, Caldwell and Berkowitz PC will speak about general accounting and ethics. David A. Curbo of Cannon & Co. CPAs will address state-specific ethics guidelines.

The ethics event will be preceded at 11:45 a.m. by the TSCPA’s regular chapter luncheon at the Holiday Inn-University of Memphis, 3700 Central Ave. Shelby County District Attorney General Bill Gibbons will be the keynote speaker.

The cost of the ethics event is $40 for members of the TSCPA and $75 for nonmembers. Attendees may register by calling Sandra Stovall at 333-2250. The luncheon is free for TSCPA members and students and $20 for nonmembers who pre-register.

PROPERTY SALES 0 133 1,342
MORTGAGES 0 131 1,047