VOL. 125 | NO. 148 | Monday, August 2, 2010
Owner Files Loan on Parkway Nursing Home
Tennessee Property Associates LP, the owner of the Parkway Health & Rehab Center at 200 S. Parkway West, has filed a $6.9 million loan on the property through Capital Funding LLC. The company, which lists an Atlanta address, filed the trust deed earlier this month.
The L-shaped parcel houses a 40,884-square-foot nursing home that was built in 1995. It sits on 4.1 acres along the north side of South Parkway West at Louisiana Street, in the Kansas Street Urban Renewal Area.
The Shelby County Assessor’s 2010 appraisal was $2.9 million. Tennessee Property Associates bought the property in 2005 for $5.5 million.
Source: The Daily News Online & Chandler Reports
– Eric Smith
DA Indicts More in Voter Fraud Case
Shelby County District Attorney Bill Gibbons said Friday the state grand jury for the county has returned additional indictments following an investigation into allegations of voter fraud related to elections held in 2006 in Shelby County.
These indictments are the result of the same investigation conducted by the Tennessee Bureau of Investigation as part of an ongoing effort to stop illegal voting activity in Shelby County. The investigation was prompted by information provided by the Shelby County Election Commission.
The grand jury indicted Dale Brown, 50, and Kelvin Green, 41, each on one count of illegal registration or voting, a class D felony.
According to the indictment against Brown, he voted in the statewide primary and county general election held on Aug. 3, 2006, after having been convicted of aggravated assault in 1985. The indictment against Green states he voted in the same statewide and county election after being convicted of driving while a habitual motor vehicle offender in 1997.
– Eric Smith
CCC Says ‘No’ to King’s Sign
Center City Commission staff have recommended the agency’s Design Review Board reject Jerry “The King” Lawler’s application for signage for the new business the wrestling icon is opening on the ground floor of the Claridge House.
The signs would be temporary until a plan for permanent signage for the business is developed.
Images of the signage show a picture of Lawler beside his signature.
“A wall sign would not be appropriate on the north side of the building based on the definition of signable area in the sign code,” reads a CCC staff report about the application. “Staff must recommend denial of this application as submitted because it is inconsistent with the sign code.”
The DRB is scheduled to take action on the application at its meeting Aug 4 in the CCC office at 114 N. Main St. at 5 p.m.
– Andy Meek
Green Building Seminar Scheduled
The Memphis chapter of the U.S. Green Building Council on Aug. 6 will sponsor an educational seminar highlighting the residential program EcoBuild.
EcoBuild is a program created by Memphis Light Gas and Water Division to promote energy efficient technologies and environmentally friendly materials.
The seminar, which includes lunch, will be from 11:30 a.m. to 1 p.m. at Bridges, 477 N. Fifth St.
The cost is $20 for member of the Green Building Council and $30 for non-members. Advance registrations are required by contacting Peter Warren, firstname.lastname@example.org or 278-6868.
– Tom Wilemon
Exchange Club Announces Board
The Exchange Club Family Center has announced new board members and officers for 2010-2011.
The new board members are Grant Adams, Holly Walters Craft, Adrienne Daily-Evans, Dr. Sheryl Davis, Handel Durham, Joe Fracchia, Dr. Patrick Randolph, Mike Fay, Dr. John Holmes, Shelly Rice and Rick Holland.
Officers are Lucia Heros, president; Dan O’Brien, vice president; Lewis Pittman, treasurer; Kelli Ratton, secretary; and Lee Wakeman, immediate past president.
Returning board members include Brad Carmony, Jimmy Chancellor, Brian Cowart, Steve Garcia, George Goldhoff, Pam Henderson, Debbie Hooser, Chuck Hurt Jr., Karen Johnston, Scott Murphy, Ryan Parry, Doug Shipman, Pat Speck and Rinnie Wood.
The Exchange Club is a nonprofit agency dedicated to ending the cycle of child abuse and domestic violence.
– Taylor Shoptaw
Merck’s Consumer Products Show Q2 Sales Increase
Sales of consumer care products for Merck & Co. totaled $422 million during the second quarter of this year, an increase over the $381 million in sales from the same period a year ago.
The pharmaceutical company’s consumer products division is based in Memphis.
The sales figures were released Friday when Merck reported its earnings. The company reported an overall 52 percent drop in second quarter income due to the cost of its merger with Schering-Plough Corp. and restructuring costs.
The company reported income of $752.4 million for the quarter compared to $1.5 billion for the same period a year ago. But total sales nearly doubled to $11.35 billion.
The company said it had strong sales for its consumer care products, which include Claritin, foot care and sun care products.
– Tom Wilemon
Report: Surgivision Postpones IPO
Memphis-based Surgivision Inc. postponed and withdrew its initial public offering on Friday because of poor market conditions, according to an online report by Renaissance Capital.
Company representatives with Surgivision were not available for comment Friday morning. The company has received approval from the U.S. Food and Drug Administration to market a MRI-guided device for minimally invasive brain procedures.
– Tom Wilemon
IRS Warns Nonprofits of Approaching Deadline
Small nonprofit organizations at risk of losing their tax-exempt status because they failed to file required returns for 2007, 2008 and 2009 can preserve that status by filing returns by Oct. 15 under a one-time relief program.
The names and last-known addresses of nonprofits that risk losing their tax-exempt status are posted at www.irs.gov.
The list includes several Memphis organizations.
– Tom Wilemon