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VOL. 125 | NO. 137 | Friday, July 16, 2010

Daily Digest

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Salvaggio Files Permit for Germantown’s Brownstone

The Salvaggio Group LLC has filed a $639,400 permit with the city-county Office of Construction Code Enforcement to perform “shell and core” work on The Brownstone, a Class A office building at 7695 Poplar Pike in Old Germantown.

Salvaggio, the developer and contractor, sold the first floor of the building last month to Memphis Radiological and Memphis Vascular Center for $1.6 million.

With a price tag between $3 million and $4 million, The Brownstone will sit on a 1-acre parcel at the southeast corner of Poplar Pike and Moore Road, east of Germantown High School. Construction should take about nine months.

A Germantown-based development, construction and management firm, The Salvaggio Group’s principals are Tony Salvaggio, his father Charles and brother Jerome.

The Salvaggio Group announced plans for The Brownstone in 2008 but didn’t land its first buyer until Memphis Radiological announced that it would place its corporate headquarters and Memphis Vascular Center – the clinic it launched in 2001 – in the 12,000-square-foot building.

Memphis Radiological and Memphis Vascular will occupy the entire ground floor’s 5,900 square feet. Investec Realty Services is listing agent and broker for the property, whose second floor is still for sale.

Source: The Daily News Online & Chandler Reports

Eric Smith

Memphis Farmers Market Nabs $100,000 State Grant

Tennessee Agriculture Commissioner Ken Kivens on July 24 will present the Memphis Farmers Market with a $100,000 grant to improve its pavilion.

The money will be used to build an open-air covering over the vending space located in the parking lot perpendicular to the existing pavilion. The project is expected to be completed by next April.

However, the MFM still needs to raise more money for the project, which expected to cost $360,000. People can make online donations at memphisfarmersmarekt.org.

Tom Wilemon

CBU Bolsters Sustainability Efforts

Christian Brothers University has become a member of the Association for the Advancement of Sustainability in Higher Education.

CBU will receive support in advancing its sustainability initiatives throughout the university and in the community. The AASHE will provide resources, professional development and a network of support to enable CBU to model and advance sustainability in governance of operations, education and research.

CBU now offers a course in sustainability as part of its M.S. in Engineering Management Packaging Concentration. The university’s Social Justice Committee also broke ground on a community garden last year.

The AASHE was formed in 2006 and is the first professional higher education association for the campus sustainability community. Its mission is to empower higher education to lead in sustainability transformation.

– Taylor Shoptaw

Longtime Banker Marsh Joins SunTrust

Memphis native Richard Marsh has joined SunTrust Bank in Memphis as senior vice president and credit portfolio manager.

Marsh, a graduate of Christian Brothers High School who earned BBA and MBA degrees from the University of Memphis, has worked for more than two decades in a variety of banking roles – in retail, small business, commercial/industrial, commercial real estate and private banking.

He has also served on boards for organizations like Bridges Inc., the Mid-South Community Development Partnership and Crichton College.

Andy Meek

DNA Celebrates Milestone with T-Shirt Design Contest

The Downtown Neighborhood Association has put out a call to artists to participate in a T-shirt design contest to commemorate the group’s upcoming 30th anniversary.

Submitted artwork should promote the group and Downtown as a neighborhood and evoke a sense of pride, ownership and involvement in the community.

The group, whose new slogan is “It’s a new day at DNA,” will use the T-shirts as a DNA fundraiser to help finance projects that benefit Downtowners as well as people who work and recreate in the area.

The deadline for entries is July 23 at 4 p.m. Among the contest specs: all entries must be in digital format at 300 dpi. There is no entry fee. Entries should be accompanied by a contest entry form that can be picked up at Downtown businesses or printed out from memphisdna.org.

The artwork and contest entry form should be e-mailed to contest@memphisdna.org. For more details, contact Terry Woodard at 351-8201, terrywoodard@mac.com, or Jodie Vance at 525-7118, ext. 17, jvance@memphisdowntowner.com.

– Andy Meek

Ford & Harrison Honored by Chambers Ranking

National labor and employment law firm Ford & Harrison LLP was among the top-ranked labor and employment law firms in Tennessee in the 2010 edition of Chambers USA: America’s Leading Lawyers for Business.

The firm also took top rankings in its practice area in Florida, Georgia, Illinois, South Carolina and nationally.

– Andy Meek

Wrestling Event Benefits The MED Foundation

Shelia and Jimmy “The Ghostrider” Willard have organized a night of wrestling at The Dome at Agricenter International July 24 to raise money for The MED Foundation.

Fighters on the lineup include V.I.P., Max Steel, Neil “The Real Dog” Taylor, The Reaper, Cameron Valentine and Hollywood Jimmy Blaylock.

Doors open at 5 p.m., but the opening bell goes off at 7 p.m. General admission is $10 and VIP seating is $55.

The Willards, who live in Water Valley, Miss., credit The MED for saving the lives of two family members.

The Willards have christened the event “Fightin’ for The MED.” Jimmy Willard, who operates Maximum Championship Wrestling, said the evening would be a “family-focused, kid-friendly event.”

– Tom Wilemon

Charter Commission Expands Public Outreach

The Metro Charter Commission has added two new public hearings to its schedule.

The group writing a proposed consolidation charter will hold a public hearing Tuesday at the Methodist Hospital South auditorium, 1300 Wesley Drive, in Whitehaven.

The next night, the group will hold another hearing at Harrell Theater, 440 West Powell Road, in Collierville. Both meetings start at 6 p.m.

Another public hearing was already on the schedule for Thursday at Ed Rice Community Center, 2907 North Watkins St., in Frayser. That hearing begins at 5:30 p.m. with a public working session of the body beginning at the community center at 4 p.m.

– Bill Dries

Banking Regulation Clears Senate Hurdle

A sweeping crackdown on banking and high-finance broke through a Senate Republican blockade Thursday, setting the stage for Congress to send the massive regulation overhaul to President Barack Obama.

The vote to end debate was 60-38, the minimum needed to overcome a filibuster. But that ensured that the bill has the votes for final passage, which could have come later Thursday.

At a thud-inducing 2,300 pages, the legislation is designed to rein in big banks and protect consumers, with the aim of averting a repeat of the 2008 financial crisis. Its ultimate impact, however, will depend on the government regulators assigned to implement it.

The legislation is the result of a year’s worth of partisan struggles and delicate cross-party courtships that at times promised more votes but in the end delivered barely enough.

Only three Senate Republicans voted with 55 Democrats and two independents to end debate on the bill Thursday.

Named after Senate Banking Committee Chairman Christopher Dodd and House financial Services Committee chairman Barney Frank, the legislation ends a trend to ease regulations and instead clamps down on the financial industry in ways unseen since the Great Depression.

– The Associated Press

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 209 209 16,401
MORTGAGES 252 252 18,937
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 393 393 33,519
BANKRUPTCIES 124 124 10,861
BUSINESS LICENSES 57 57 5,255
UTILITY CONNECTIONS 102 102 11,446
MARRIAGE LICENSES 70 70 3,937

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