» Subscribe Today!
More of what you want to know.
The Daily News

Forgot your password?
Skip Navigation LinksHome >
VOL. 126 | NO. 58 | Thursday, March 24, 2011

Daily Digest

Print | Front Page | Email this story | Comments ()

Trenarys Buy Goodwyn Condo

Phil Trenary – who resigns Thursday as president and CEO of Memphis-based Pinnacle Airlines Corp. – and his wife, Bridget, have bought a condominium in Goodwyn Condominiums at 127 Madison Ave. The purchase price was $457,500, and the sellers were Michael O. Arndt and Elizabeth F. Arndt.

The deal was inked March 16, two days after Pinnacle announced Trenary’s departure.

The purchase was financed with a $411,300 loan through Independent Bank.

The 3,200-square-foot, three-bedroom, three-bathroom unit is on one of the upper levels of the 18-story high-rise, which was built in 1908. The building is on the southwest side of Madison Avenue and South Second Street.

The building was reclaimed by First Tennessee Bank in foreclosure in 2009 when its developer defaulted on a construction loan. The bank bought 21 unsold units plus a small commercial space for a combined $4.5 million. First Tennessee then hired Metro Construction LLC to begin finishing 12 of the units and Hobson Co. Realtors to sell them.

The Arndts bought the unit in May 2010 from First Tennessee for $495,000. The Shelby County Assessor of Property’s 2010 appraisal was $560,000.

In its March 14 announcement of Trenary’s departure, Pinnacle reported he would stay on as a consultant for one year after his resignation to assist in a transition to a new CEO.

Source: The Daily News Online & Chandler Reports

– Kate Simone

FedEx Express Pilots Approve Labor Pact

FedEx Express pilots represented by the Air Line Pilots Association have approved a two-year, short-term contract with the division of Memphis-based FedEx Corp.

The pilots completed balloting on the contract proposal Wednesday.

The contract includes across the board hikes in hourly pay rates, increases in pilot per diem rates for domestic and foreign flights, a pensionable lump sum payment for pilots and more specific letters of agreement for foreign duty assignments.

The agreement is retroactive to Feb. 28 and runs through March 2013 if ALPA exercises an option by January 2012.

The company and union have also committed to continuing talks through 2011 that reflect how crucial the terms of the still-developing Congressional reauthorization of the Federal Aviation Administration will be to future contract agreements.

Among the items to be resolved by the FAA reauthorization are waiting periods that govern how long pilots must wait between flights.

Capt. Scott Stratton of ALPA’s FedEx Master Executive Council said the uncertainty “called for a different manner in achieving a collectively bargained agreement.”

“In the end, we achieved an agreement that brings meaningful improvements in key areas while positioning us to resolve our remaining issues in the near future,” he added.

ALPA President Lee Moak termed the agreement “an outstanding achievement” given the regulatory uncertainty.

– Bill Dries

New Marshalls Opening in Hickory Ridge Area

Marshalls will open a new 19,506-square-foot store at 6441 Winchester Road in Hickory Ridge Pavilion on April 7.

Grand opening hours are 8 a.m. to 10 p.m. Regular store hours will be 9:30 a.m. to 9:30 p.m. Mondays through Saturdays and 11 a.m. to 8 p.m. on Sundays.

The new location will open with a Shoe MegaShop featuring brand-name shoes for the whole family and The CUBE – a hip, new in-store boutique of contemporary fashions for teens.

Marshalls is one of the nation’s leading off-price family retailers, with more than 820 stores spanning 42 states and Puerto Rico. With the addition of the new Memphis store, Marshalls will operate five stores in the Memphis market.

– Sarah Baker

Former Captive Journalist to Speak Thursday

Roxana Saberi, an award-winning journalist who was imprisoned for 100 days in Iran, will lead a community conversation Thursday at 7 p.m. at Hutchison School, 1740 Ridgeway Road.

The event, sponsored by Facing History and Ourselves and The Allstate Foundation, will feature Saberi’s story as it is detailed in her book “Between Two Worlds: My Life and Captivity in Iran.”

In 2009, Saberi was working as a reporter in Tehran, Iran, when she was accused of being a U.S. spy and sentenced to eight years in the notorious Evin Prison. She served 100 days before being released.

Her book tells the story of her arrest and captivity, shares the struggles and courage of her cellmates that inspired her along the way and describes her personal journey as she strives to defy her captors and be true to herself, regardless of the consequences.

More information can be found at www.facinghistory.org/communityconversations.

– Allison Buckley

FedEx to Receive Sustainable Award

FedEx Corp. is to receive the first annual Green Hard Hat Award at the upcoming Conference on Sustainable Real Estate

The award will be accepted by Mitch Jackson, vice president of environmental affairs & sustainability at FedEx Corp., at the Economic Club of Memphis meeting Thursday at 6 p.m. at the Holiday Inn University of Memphis, 3700 Central Ave.

FedEx’s receipt of the award will serve as a leadership example for the youth of Memphis, the students at the U of M and other individuals and businesses in the Memphis region, said Grant Thrall, the University of Memphis Martha and Robert Fogelman Family chair of excellence in sustainable real estate.

“Change of the type that has been initiated by FedEx leadership is an important example for a sustained global economy,” he said. “FedEx is providing the right example for business management of the 21st century.”

– Sarah Baker

Methodist South Welcomes Whitehaven Farmers Market

Methodist South Hospital will mark the opening of Whitehaven’s first farmers market during an April 11 service, starting at 1 p.m. in front of the medical office complex at 1251 Wesley Drive.

“We are proud to offer this venue to the Whitehaven community as an extension of the health and wellness we promote at Methodist South,” said Michael Ugwueke, CEO of Methodist North and South Hospitals. “We hope the Farmers Market will encourage Whitehaven residents to eat healthier by including more fruits and vegetables in their diet.”

The Farmers Market, which will sell locally grown fruits and vegetables, will be open Mondays from 1 p.m. to 6 p.m. from April 11 through Oct. 10.

For more information, call 516-3580.

– Aisling Maki

‘American Astronaut’ Film to be Screened Thursday

ArtsMemphis Bravo and Indie Memphis present a free screening of the acclaimed musical space Western “The American Astronaut” Thursday at 7:15 p.m. at the Malco Summer Drive-In, 5310 Summer Ave.

The screening is part of the ArtsMemphis Bravo membership season, a series of monthly events featuring a reception and an exhibition or performance at an area arts venue. Attendees are invited to attend a get-together at 6 p.m. at Taqueria la Guadalupana for drinks before the screening.

Bravo is an ArtsMemphis membership organization for 21- to 40-year-olds that offers unique and engaging experiences in the Memphis arts scene, while also offering members opportunities to meet new people and experience new places and events around the city.

More information can be found by visiting www.artsmemphis.org/bravo.

– Allison Buckley

Tea Party Scolded for Calling Haslam ‘Socialistic’

The Tennessee Tea Party is drawing sharp rebukes from Republicans for claiming Gov. Bill Haslam showed “socialistic” tendencies in his previous role as mayor of Knoxville.

The group is angry at Haslam for failing to support a Senate bill that would do away with teachers’ collective bargaining rights. But Republican Senate Speaker Ron Ramsey of Blountville called the group’s statement about the governor “absolutely ridiculous.”

Haslam, who laughed off the description, has endorsed the House version exempting several areas like merit pay and evaluations from negotiations, but stopping short of eliminating all union bargaining.

– The Associated Press

Whole Foods Event to Help WEVL 89.9

Memphis’ Whole Foods Market Store, 5022 Poplar Ave., chose WEVL FM 89.9 to participate in the store’s 5 Percent Day on April 5 from 8 a.m. to 10 p.m., which means WEVL will receive 5 percent of Whole Food’s net sale proceeds.

“We are very honored by this generous show of support for WEVL and our mission to provide diverse music programming to the community,” said Judy Dorsey, station manager for WEVL, in a statement.

Whole Foods has a strong culture of community involvement, offering several programs that donate food and funds to non-profit organizations and community events.

WEVL is Memphis’ only independent, listener-supported, volunteer radio station and is celebrating 35 years on the air this year.

More information is available at www.wevl.org.

– Allison Buckley

Exchange Club to Hold Annual Auction Party

The Exchange Club Family Center will hold its annual Hands of Hope Auction Party April 2 at 7 p.m. at Minglewood Hall, 1555 Madison Ave.

The evening will include a live and silent auction, live music provided by Party Planet, dancing, gourmet food stations, cash bar and a coffee-liqueur bar.

The Auction Party is the organization’s largest fundraiser of the year.

Individual tickets are $85 and couples’ tickets are $150.

For tickets or more information, contact Karen Ratcliff at 276-2200 or karen.ratcliff@exchangeclub.net.

The Exchange Club Family Center’s mission is to break the cycle of child abuse and neglect by providing prevention, intervention, educational and support services to families.

– Taylor Shoptaw

Ready Shelby Day Held Saturday at Zoo

Shelby County is reaming up with the Memphis Zoo, 2000 Prentiss Place, to raise awareness of natural disasters and how to prepare for the unexpected in an event called Ready Shelby Day, which will be held Saturday from 10 a.m. to 2:30 p.m.

Videos, activities and special live presentations throughout the zoo will be set up in an effort to get visitors ready for when disaster strikes.

The Red Cross Safe House will also be present to offer hands-on fun, interactive presentations and informational demonstrations.

Ready Shelby is an emergency preparedness initiative sponsored by the municipal mayors of Shelby County, which seeks to educate residents on how to prepare for an emergency with specific attention given to the first 72 hours after an emergency.

All activities are included in zoo admission. More information can be found by visiting www.readyshelby.org or www.memphiszoo.org.

– Allison Buckley

Corker Still Opposed to Health Care Reform Bill

U.S. Sen. Bob Corker, R-Tenn., released a statement this week reiterating his opposition to the landmark yet controversial health care reform bill President Barack Obama signed into law one year ago this month.

Corker, who voted against the bill and for legislation to repeal it, said the law does not address costs and puts burdens on federal and state budgets.

“There is not a thinking person in Washington who believes this health care law will work as designed, because it doesn’t solve the biggest problem in our health care system, which is cost,” Corker said. “In fact, the law increases federal health care spending, despite record deficits and debt, and imposes a huge unfunded mandate on state governments to expand their Medicaid programs. Large employers will be discouraged from providing coverage because they could abandon their health plans, pay the penalties and still save millions of dollars by passing the burden on to taxpayers.”

– Andy Meek

Sign-Up For Our Free Email Edition
Get the news first with our daily email

Blog News, Training & Events
PROPERTY SALES 119 482 10,051
MORTGAGES 119 497 11,811
BUILDING PERMITS 268 1,056 21,366
BANKRUPTCIES 50 263 6,700

Weekly Edition

Issues | About

The Memphis News: Business, politics, and the public interest.