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VOL. 125 | NO. 155 | Wednesday, August 11, 2010

Daily Digest

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DPI Group Buys Back Yard Burgers on Germantown Parkway

DPI Group, a California-based limited liability company, has bought a Back Yard Burgers property at 1685 N. Germantown Parkway from Back Yard Burgers Inc. for $725,000.

The site includes a 3,126-square-foot Back Yard Burgers fast food restaurant built in 1998. It sits on 0.7 acres on the west side of North Germantown Parkway south of Dexter Road in The Commons of Dexter Lake Planned Development.

The Shelby County Assessor’s 2010 appraisal is $895,300.

In conjunction with the sale, paperwork was filed with the Shelby County Register in which DPI Group leases the property back to Back Yard Burgers Inc. through July 2030, with four options to extend the lease by five years each.

Source: The Daily News Online & Chandler Reports

– Kate Simone

Luttrell Appoints CAO, Transition Team

Shelby County Mayor-elect Mark Luttrell has begun preparing to take office in just a few weeks.

Luttrell, who won last week’s election for Shelby County mayor, takes office Sept. 1.

Luttrell announced Monday he will appoint Harvey Kennedy as his chief administrative officer. Kennedy served as CAO of the sheriff’s department during Luttrell’s two terms as sheriff.

Kennedy’s appointment goes to the Shelby County Commission for approval. The CAO runs county government on a day-to-day basis.

Luttrell has also named Stephen Reynolds, president and CEO of Baptist Memorial Health Care Corp., and Elaine Sanford, president and owner of Young-Sanford Marketing and Media Services, to head his transition team.

Other members of the transition team to work with the administration of interim Mayor Joe Ford are: Luke Yancey, CEO of the Mid-South Minority Business Council; Roby Williams, president of the Black Business Association; Robert Staub, founder of SmallBiz Memphis; Gwyn Fisher, executive director of MPACT Memphis; broadcast executive Art Gilliam; Jim Ethridge, CEO of Ethridge Enterprises; State Senate Majority Leader Mark Norris of Collierville; Shelby County District Attorney General Bill Gibbons; Shelby County Commissioner J.W. Gibson; Bartlett Mayor Keith McDonald; former Shelby County Clerk Jayne Creson; and Kelly Rayne, deputy chief administrative officer for the City of Memphis.

– Bill Dries

Pinnacle, Colgan Airlines’ Passenger Counts Decline

July was a tough month for the airlines operated by Memphis-based Pinnacle Airlines Corp. Two of its subsidiaries, Pinnacle Airlines Inc. and Colgan Air Inc., saw declines compared to July 2009.

Pinnacle Airlines flew 988,433 passengers last month, a 6.4 percent dropoff from 1.1 million the same month a year ago.

And Colgan Air flew 259,963 passengers last month, a 4.5 percent dropoff from 272,269 passengers the same month a year ago.

Year to date (through July 31), Pinnacle has flown 6.16 million passengers, down 0.9 percent from 6.22 million passengers for the same period in 2009.

And Colgan has flown 1.5 million passengers, down 2.1 percent from 1.6 million for the same period in 2009.

Pinnacle Airlines operates a fleet of 142 regional jets as Delta Connection in the U.S. and six other countries. Colgan Air operates a fleet of 48 regional turboprops as Continental Connection, United Express and US Airways Express in the eastern U.S. and Canada.

Eric Smith

SurgiVision Technology Used in First Patient Procedure

The first patient procedure using new SurgiVision Inc. technology has been successfully performed, the Memphis-based company said Tuesday.

Doctors and scientists used the ClearPoint Neuro Intervention System at the University of California, San Francisco Medical Center.

In June, the U.S. Food and Drug Administration approved the use of the medical imaging technology.

Using the ClearPoint system, a doctor sees and selects a neurological target, aims SurgiVision’s targeting device and watches via magnetic resonance imaging, or MRI, as the surgical instrument is advanced to the target.

Kimble Jenkins, the chief executive officer of SurgiVision, called the successful procedure a “major milestone for our company and the field of MRI-guided interventions.”

Tom Wilemon

Rhodes Named in Princeton Review’s Annual ‘Best Colleges’ Guide

Rhodes College has been included in the 2011 edition of The Princeton Review’s annual “Best 373 Colleges” guide.

Rhodes was one of only about 15 percent of United States’ 2,500 four-year colleges and two Canadian colleges featured.

The Princeton Review profiles each college and rates them in eight categories. The guide also ranks the top 20 schools in 62 categories based on surveys of students attending the colleges.

The Rhodes campus is rated as one of the 20 most beautiful in the country.

Comments by Rhodes students include, “Professors don’t just care about passing the tests, they want students to be able to take what they have learned and apply it to real life,” and “Rhodes is filled with the types of students that are any high school counselor’s dream.”

– Taylor Shoptaw

Home Decor Liquidators Leases Southaven Site

Centro Properties Group has announced the execution of a 24,810-square-foot lease with Home Decor Liquidators at Stateline Square Shopping Center, at the northeast corner of Interstate 55 and Stateline Road West in Southaven.

Centro Properties Group, the second-largest owner of community and neighborhood shopping centers in the U.S. with a portfolio of about 600 properties in 39 states, owns Stateline Square. It was represented by Gil Consuegra with Centro Properties Group.

Andy Meek

UTHSC Awarded $3.4 Million Grant

The University of Tennessee Health Science Center has made a long-term commitment to recruit and retain minority students and faculty with part of a $3.4 million federal grant to fund the UT College of Pharmacy’s Minority Center of Excellence.

The U.S. Department of Health and Human Service awarded the grant in June. The award will be paid over the next three years.

The College of Pharmacy student body currently consists of 22.8 percent minority students, including 16.1 percent black students.

– Tom Wilemon

PROPERTY SALES 56 289 2,908
MORTGAGES 55 226 2,009
BUILDING PERMITS 108 1,002 6,703
BANKRUPTCIES 42 248 1,225