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VOL. 124 | NO. 234 | Monday, November 30, 2009

Daily Digest

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First Citizens Bank Reclaims Seven Condos

First Citizens National Bank has bought back seven Collierville condominiums in four separate deeds in lieu of foreclosure. The Dyersburg, Tenn.-based bank bought the condos, all of which are on Calumet Farms Drive in the Shea Downs at Porter Farms development, for a combined $2.2 million.

The addresses of the condo units are 1360, 1356, 1384, 1396, 1414, 1418 and 1422 Calumet Farms Drive. Two of the condo units were owned by JSP LLC and five were owned by Porter Homes-Shea Downs LLC.

In the first deed in lieu of foreclosure, First Citizens reclaimed the condo unit at 1360 Calumet Farms Drive for $193,925 from JSP LLC. The unit has an appraised value of $298,400, according to the Shelby County Assessor of Property.

In the second deed in lieu of foreclosure, First Citizens reclaimed the condo units at 1356 and 1384 Calumet Farms Drive for $393,846 from Porter Homes-Shea Downs LLC. The units have a combined appraised value of $575,800.

In the third deed in lieu of foreclosure, First Citizens reclaimed the condo unit at 1396 Calumet Farms Drive for $196,925 from JSP LLC. The unit has an appraised value of $298,400.

And in the fourth deed in lieu of foreclosure, First Citizens reclaimed the three condo units at 1414, 1418 and 1422 Calumet Farms Drive for $1.4 million. The units have a combined appraised value of $874,200.

Source: The Daily News Online & Chandler Reports

Eric Smith

Salvation Army Meets Kroc Fundraising Goal

The local chapter of the Salvation Army has met its fundraising goal of $25 million and can now begin work on the Kroc Center, the 100,000-square-foot facility planned for the Mid-South Fairgrounds.

The Salvation Army earlier this month filed a $24 million permit application with the city-county Office of Construction Code Enforcement to build the center at 800 East Parkway S., which is at the southeast corner of East Parkway and Central Avenue, or the northwest corner of the fairgrounds.

The Salvation Army has been raising money for the center since 2005, when Memphis was one of 25 cities around the country awarded a Kroc Center. The facility will be known formally as Salvation Army Ray & Joan Kroc Corps Community Center after McDonald’s founder Ray Kroc and his wife, Joan, the latter of whom left $1.6 billion to the Salvation Army to create community centers nationwide.

Of that amount, $60 million was granted in matching funds to the Memphis facility on the condition that the local Salvation Army first raise $25 million. The chapter hit its goal last week.

The Memphis Kroc Center will sit on 15 acres at the northwest corner of the fairgrounds, near the intersection of Central and East Parkway. Amenities at the sprawling facility will include a swimming pool, indoor and outdoor athletic fields, a performing arts center and fitness area.

For more on the Kroc Center, see the June 22 edition of The Daily News, www.memphisdailynews.com.

Eric Smith

Burch Porter Attys Honored By Mid-South Super Lawyers

Fourteen attorneys at Burch, Porter & Johnson PLLC have been included in the 2009 edition of Mid-South Super Lawyers.

The attorneys were recognized for excellence in their specific practice areas. They are Nathan A. Bicks, health care; C. Thomas Cates, real estate; W.J. Michael Cody, alternative dispute resolution; Scott J. Crosby, business litigation; Joe M. Duncan, estate planning and probate; Jef Feibelman, business litigation; David J. Harris, business litigation; Les Jones, personal injury plaintiff and medical malpractice; Lisa A. Krupicka, employment and labor; J. Brook Lathram, business litigation; Charles F. Newman, business litigation; Joel H. Porter, business/corporate law; R. Michael Potter, estate planning and probate; and W. Rowlett Scott, real estate.

Also, six of these attorneys were recognized as members of the “Top 100 in Tennessee” list, the most of any Memphis firm. They are Cody, Duncan, Feibelman, Jones, Krupicka and Lathram.

In the same publication, four attorneys from the firm were named “Mid-South Rising Stars” for their practice: David E. Goodman Jr., general personal injury defense; Jennifer Hagerman, employment and labor; Joshua B. Lawhead, real estate; and Mary Hale Morris, business litigation.

Rebekah Hearn

Amazon Sells Pre-Orders For Ford Jr. Memoir

Amazon.com is now selling pre-orders of the memoir by former Memphis Congressman Harold Ford Jr., “More Davids than Goliaths.”

The book, which is being published by Crown, an imprint of Random House, is scheduled to be released in September.

Ford took office at age 26 after winning the 9th U.S. Congressional District seat in 1996 that was previously held by his father, Harold Ford Sr. The younger Ford also came within 50,000 votes and 3 percentage points of winning in 2006 the U.S. Senate seat that was vacated by Bill Frist. Former Chattanooga Mayor Bob Corker won that race.

Andy Meek

St. Jude Fundraiser Under Way at Malco

Malco Theatres will continue its annual “Wrapped with Love” holiday fundraiser this Christmas season.

The campaign will run through Dec. 25 and benefit St. Jude Children’s Research Hospital.

Patrons at all 31 Malco Theatre locations will be able to buy handmade bows for $1. Each Bow is made from 24 frames of film, which is equivalent to one second of a movie. Patients of St. Jude and their families participated in the creation of the bows at the hospital.

Malco has raised more than $375,000 for St. Jude since 1999. More than 65,000 bows were sold during the 2008 campaign and Malco hopes to sell 70,000 this year.

– Taylor Shoptaw

Broad Avenue District To Host Art Walk

The Broad Avenue Arts District will host its first holiday-themed art walk from 6 p.m. to 9 p.m. Friday.

Works by more than 20 artists will be featured.

George Hunt will have an exhibit of new paintings inspired by Broad Avenue titled “Blues on Broad.” Lisa Williamson will have an informational exhibit about plans for the proposed “Junkyard Museum.” Metal Works will celebrate the opening of its retail gallery space.

Several businesses are participating with other exhibits and events. Two restaurants, The Cove and Broadway Pizza, are offering food and drink specials.

The walk occurs in the area bounded by Sam Cooper Boulevard and Broad Avenue between Hollywood and Collins streets.

Tom Wilemon

Ford & Harrison Gives Food In Lieu of Gifts

Ford & Harrison LLP, a national labor and employment law firm with a Memphis office, recently announced that instead of giving client gifts this holiday season, the firm will make donations to a food bank in each city the firm has a presence.

“In the current state of our economy, the demand for food banks is increasing and they are facing food shortages for the holidays,” said C. Lash Harrison, the firm’s managing partner, in a statement.

The donations will be made in the name of “Ford & Harrison’s Clients and Friends.” Sixteen cities’ food banks will receive a monetary gift from the firm.

The local recipient is the Mid-South Food Bank.

Rebekah Hearn

PROPERTY SALES 128 234 13,285
MORTGAGES 80 152 8,323
BANKRUPTCIES 42 79 6,299