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VOL. 126 | NO. 86 | Tuesday, May 3, 2011

Daily Digest

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Distriplex Warehouse Financed for $900,000

Memphis-based 4660 Realty Corp. has financed a 50,000-square-foot warehouse at 4660 W. Distriplex Drive through Regions Bank for $900,000. The loan matures April 5, 2012.

The warehouse sits on 2.9 acres at the northeast corner of East Shelby Drive and West Distriplex Drive in Distriplex Center subdivision.

The borrower, 4660 Realty Corp., bought the property in December 2009 for $1 million. The Shelby County Assessor of Property’s 2010 appraisal was $1.8 million.

Source: The Daily News Online & Chandler Reports

– Kate Simone

Aramark To Lay Off 93 in Shelby County

Aramark Aviation Services LP reported Monday in the Tennessee Department of Labor and Workforce Development’s Dislocated Worker Unit Report of Official Notices 93 employees will be laid off between May 17 and June 15.

“We will no longer provide services at this location and will work with the company that replaces us to support a smooth transition for our employees and the operations,” said Sarah Jarvis, spokeswoman for Philadelphia-based Aramark, the parent company of Aramark Aviation Service. “We are also working to provide impacted employees with access to other appropriate Aramark job openings in the area.”

The layoffs are a result of Aramark Aviation Services’ expiring contract with Delta Air Lines at Memphis International Airport, to go into effect May 17, Jarvis said.

“When contracts end, it’s no reflection on the work or on the employees; it’s just business,” she said.

Delta declined comment.

– Sarah Baker

Handy-Clay Appeals Lawsuit Dismissed

Bridgett Handy-Clay, the city’s former public records coordinator, is appealing to the U.S. Sixth Circuit Court of Appeals after a federal judge in Memphis dismissed a suit she filed claiming wrongful termination.

Notice of the appeal came in the form of a brief announcement filed with the local court by Handy-Clay’s attorney Carol Chumney.

The lawsuit claimed Handy-Clay was wrongfully dismissed for “refusing to remain silent” about and reporting allegations of nepotism and abuse of city policies among city employees and officials. Among the defendants named in the suit were Memphis Mayor A C Wharton Jr. and city attorney Herman Morris.

– Andy Meek

Booker T. Washington High in the Running for Prez Visit

Booker T. Washington High School is one step closer to a visit from President Barack Obama.

The school has made it into the final three in this year’s Race to the Top High School Commencement Challenge. From the three remaining schools that received the most online votes – the other two are High Tech High International in San Diego and Bridgeport High School in Bridgeport, Wash. – Obama will choose one as the winner later this week.

And he will participate in their commencement ceremony this year.

According to a release from the office of U.S. Rep. Steve Cohen, D-Memphis, as part of the challenge from the president, U.S. public high schools were asked to submit applications to participate in the challenge and demonstrate their commitment to preparing students for college and a career.

The public has been voting for schools they thought best meet the goals.

– Andy Meek

CN Rail Safety Week Holds Activities in Memphis

Canadian National Railway Co. Police will conduct safety blitz operations targeting commuters in Memphis through May 8 for Rail Safety Week 2011.

CN Police officers will be reaching out to commuters with messages about the risks of unsafe behavior at railroad crossings and on railroad property. They will also be issuing a call to action with their “SEE IT? REPORT IT! You Could Save a Life” public awareness campaign, calling on the public to report any dangerous activity they witness by calling CN Police at 800-465-9239.

During Rail Safety Week and throughout the year, CN Police will mount a targeted campaign aimed at reducing trespassing on railroad tracks and property through a combination of public education and tougher enforcement.

Opportunities to join the officers in spreading awareness are Tuesday from 6 a.m. to 7 a.m. and 10 a.m. to 11 a.m., as well as Wednesday from 10 a.m. to 11 a.m., at the Amtrak Station, 545 S. Main St.

– Allison Buckley

Bartlett Real Estate Tour Slated for Wednesday

The city of Bartlett and the Bartlett Area Chamber of Commerce want to show off the city to real estate agents who might not be informed about what Bartlett has to offer.

The event – slated for May 4 from 8:30 a.m. to 1:30 p.m. at the Bartlett Performing Arts Center, 3663 Appling Road – will include a bus tour showcasing Bartlett’s key amenities and a free barbecue lunch for attendees.

For more information or to RSVP, email Clay Banks at cbanks@barlettchamber.org or call 372-9457.

– Sarah Baker

Triumph Bank Announces Staff Addition, Promotions

Triumph Bank has added staff to accommodate its growth partly due to the recent purchase of Arlington Community Bank (now Triumph Bank, Arlington Office).

John Troncone, formerly with Trust One Bank, joins Triumph as vice president, market executive, at the new Arlington office. Rachel Culver, former Arlington Community Bank branch manager, will become assistant vice president, cash management and Internet services officer.

Triumph employee Brandy Robinson has been promoted to banking officer and office manager of the new Arlington office.

Triumph signed an agreement in February to buy the assets and real estate and assume the liabilities of Arlington Community Bank, a division of The Farmers Bank of Lynchburg, Tenn.

– Andy Meek

Manis Joins Kelman-Lazarov

Howard Manis has joined wealth management and financial planning firm Kelman-Lazarov Inc. as an independent contractor to support the firm’s clients’ insurance needs and to provide investment advisory services.

Howard comes to the firm from working as a financial adviser with MML Investors and Manis Financial.

Licensed to practice law in Tennessee and Mississippi, he also is a partner in the Manis Law Firm, focusing on estate planning, probate, federal litigation and business law.

– Andy Meek

Medtronic CEO Will Stay On Until Replacement Named

The outgoing chief executive of Medtronic Inc. told employees Monday he will continue to lead the medical device manufacturer as its board of directors continues the search for a replacement.

Minneapolis-based Medtronic’s Spinal and Biologics Business is based in Memphis.

The company previously had announced that Hawkins would step down on April 29, the close of the company’s fiscal year.

In a note to employees, Hawkins said that the board is making “excellent progress,” but has not yet found a successor to him.

Hawkins’ tenure leading the world’s largest device maker has been characterized by sluggish sales and a falling stock price.

The company’s business has been hurt by tighter hospital budgets and the loss of health insurance for many American workers.

For the current year, company executives expect the global market for devices to increase just 2 to 3 percent.

In February Medtronic announced it would lay off up to 2,000 workers as part of a restructuring effort to make up for anemic sales of its implants.

The company said the cuts aimed to achieve “long-term sustainable growth” and would reduce its 41,000-person work force by 4 to 5 percent.

– The Associated Press

PROPERTY SALES 0 133 1,342
MORTGAGES 0 131 1,047