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VOL. 125 | NO. 107 | Thursday, June 3, 2010

Daily Digest

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Clothing Company Files Loan on Bartlett Land

American Clothing Express Inc. has filed a $3.1 million construction loan on 3.57 acres of land it owns at 3190 New Brunswick Road in Bartlett.

The company, which makes and sells wedding gowns, filed the loan May 27 through Commercial Bank & Trust.

James K. Crum and Joan R. Crum signed the trust deed as president and secretary-treasurer, respectively, of American Clothing Express. A message left with the company’s owners was not immediately returned.

American Clothing Express bought the vacant land in 2008 for $550,000 from its developer, the McClanahan Properties Partnership.

The parcel is Lot 1 of the 39.8-acre MMK Subdivision, north of U.S. 64 (Stage Road) and Interstate 40. The lot is on the northwest corner of the subdivision, and the Shelby County Assessor of Property’s 2010 appraisal of the land, which is zoned commercial, is $543,300.

The company has a store at 7601 U.S. 64, about two miles from the newly acquired land, and its headquarters is on Wolf Lake Drive near Bartlett.

Source: The Daily News Online & Chandler Reports

Eric Smith

MLGW to Approve New Chamber Fees

Approval of a handful of fees and due payments to the Greater Memphis Chamber is on tap at Thursday’s Memphis Light, Gas and Water Division board meeting, scheduled for 3 p.m. at the MLGW Administration Building, 220 S. Main St.

The board is scheduled to approve paying $25,000 to the chamber for MLGW’s 2010 annual membership dues; $175,000 to the chamber to facilitate economic development; and $80,000 to the chamber to support industrial recruitment, development and business expansion.

The Tennessee Valley Authority will reimburse MLGW for half the $80,000 payment.

Andy Meek

MBA Creates New Sections For IP, Gov’t Lawyers

Memphis Bar Association President Ricky Wilkins announced this week that the MBA has launched two new sections – an Intellectual Property/Entertainment Law Section and the Government Lawyers Section.

William Parks of Wyatt, Tarrant & Combs LLP is the chairman of the IP/Entertainment Law Section. The section’s goal is “to provide the Memphis business community and the Mid-South region with a legal education resource, dedicated pro-bono group, and experts in those subjects areas,” according to Wilkins’ statement.

Janet Shipman, an assistant county attorney with the Shelby County Health Department, is the chairwoman of the Government Lawyers Section. This section will help attorneys with various governments by providing “a venue for them to network and discuss the unique challenges they face in their practices.”

For more information or to join these sections, contact the MBA office at 527-3573.

Rebekah Hearn

Registration Begins For Health Care Conference

Employers and health care professionals can save money if they register before July 15 for the Memphis Business Group on Health’s annual conference.

The theme for the Sept. 9 conference is “Tackling the Elephant in the Room: Healthcare Benefit Cost Management Tools & Solutions.”

Speakers will include representatives from Mercer, the University of Alabama, First Horizon, Pittsburg Business Group on Health and Health Intelligence Partners.

The fees, which are $60 for members of the Memphis Business Group on Health and $99 for others, will increase after July 15.

For more information, contact Janis Slivinski at jslivinski@memphisbusinessgroup.org.

Tom Wilemon

TRO Jung/Brannen Makes Top 10 List

For the third year in a row, TRO Jung/Brannen ranks in the top 10 architectural design firms in the annual “Construction and Design Survey” published by Modern Healthcare.

The company, which has a regional office in Memphis, has about 70 percent of its business with health care clients. It has more than 500 clients with construction projects totaling more than $10 billion.

TRO Jung/Brannen ranked number eight on the list of the top 100 U.S. healthcare facility design firms in total healthcare volume.

– Tom Wilemon

Lucero to Headline Rock for Love 4

Rock For Love 4, the annual Church Health Center benefit concert to be held Aug. 19 through Aug. 21 at the Hi Tone and Shangri-La Records, will feature headlining acts Lucero and Amy LaVere.

Other bands set to play include the Dirty Streets, Star and Micey, Oracle and the Mountain, Bulletproof Vests and Glorie.

Tickets are on sale now and can be purchased at www.hitonememphis.com. Businesses interested in sponsoring Rock for Love 4 can call Marvin Stockwell at 272-0010, Ext. 1414, Jeff Hulett at 272-0010, Ext. 1304, or J.D. Reager at 488-5020.

For more information, visit www.churchhealthcenter.org/rockforlove.

– Taylor Shoptaw

Budget Impasse May Prolong Legislative Session

Tennessee legislative leaders said Tuesday that a budget impasse may keep lawmakers in session at least two more weeks.

The House and Senate appeared close to reaching an agreement Tuesday after some lawmakers even met on Memorial Day to try to resolve their differences.

The Senate Finance Committee passed its version of the budget plan last week and it could be on the Senate floor as early as this week.

The House plan began moving through the legislative process on Tuesday when it passed the House Budget Subcommittee.

Both proposals would create a $20 million relief program for Tennessee flood victims.

“I think it is apparent that this is extremely important in helping those that were devastated by the May flood,” said Democratic House Minority Leader Gary Odom of Nashville, whose proposal would provide sales tax relief.

The sticking points include whether to give state employees a bonus, dismantling the governor’s infant mortality program and some capital projects, such as a plan to build a $16 million cold-water fish hatchery in Carter County, which is home to House Speaker Kent Williams, an Elizabethton independent.

The overall projected shortfall for the upcoming budget year is about $150 million beyond what Democratic Gov. Phil Bredesen addressed in his original spending plan.

He hoped to plug the budget gap through a series of revenue measures that included eliminating a sales tax cap on big-ticket items, restoring the sales tax on the first $15 of cable bills and increasing annual driver’s license fees by $2.

Most lawmakers in both chambers oppose any type of tax increase.

– The Associated Press

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 124 481 17,865
MORTGAGES 127 530 20,565
FORECLOSURE NOTICES 4 48 2,693
BUILDING PERMITS 195 891 36,836
BANKRUPTCIES 52 262 11,426
BUSINESS LICENSES 24 139 5,848
UTILITY CONNECTIONS 26 116 6,830
MARRIAGE LICENSES 26 133 4,049