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VOL. 126 | NO. 221 | Friday, November 11, 2011

Daily Digest

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Union Avenue Dialysis Ctr. Sells for $1.7 Million

Haskell, Okla.-based WMEM LLC has bought a nearly 15,000-square-foot building at 2225 Union Ave. from CKC Development Co. for $1.7 million.

The purchase also includes a cell tower on the property.

The building houses Fresenius Medical Care Memphis Midtown, a dialysis center.

The one-story structure was built in 1967 and sits on 1.2 acres at the southeast corner of Union Avenue and South Cox Street.

A $147,500 loan was filed through Magna Bank at the time of purchase. In addition, WMEM assumed the remainder of a $1.3 million loan CKC Development took out in March 2005 through.1st Trust Bank of Savings. The original lender, 1st Trust Bank, later assigned the loan, which is now held by The Ohio National Life Insurance Co.

WMEM assumes the remainder of the loan, totaling a principal balance of $1.1 million.

Before Memphis Kidney and Dialysis Services PLC began leasing the building in 1997 from then-owner Clear Channel Communications of Memphis Inc., the building was home to the WPTY ABC-24 studio and offices.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Delta to Close Memphis Base for Some Pilots in 2012

The Memphis base for Delta Air Lines pilots flying DC 9 and Airbus A320 aircraft will be closed in December 2012, according to an announcement from the airline’s flight operations department.

The closing of the two pilot categories with a Memphis base affects 200 Delta pilots, according to Delta spokeswoman Gina Laughlin.

They were notified with in an advanced entitlement bid the airline issued Thursday, Nov. 10. The bids are issued a few times each year and describe vacancies for pilots to either change their base or change the aircraft they fly.

The pilots could continue to live in the Memphis area but commute to New York or Atlanta as their base.

The Airbuses will continue to fly into and out of Memphis International Airport, but they won’t be based at the airport – a hub for Delta Air Lines, which is headquartered in Atlanta.

Delta had already announced its intent to retire all DC-9s in its fleet by the end of 2012.

Laughlin said the move should have “little to no impact” on flights into and out of Memphis. It will not affect other Delta employees.

Regional air service by Delta at Memphis International was cut substantially starting in late August as part of a systemwide reduction for Delta aimed at making permanent cuts in the airline’s capacity.

Delta CEO Richard Anderson has said the overall strategy for the Memphis hub is to make Memphis a destination for spillover traffic from its Atlanta hub.

– Bill Dries

Walk Will Raise Funds for Myeloma Research

Memphis Miles for Myeloma will hold a walk and run Saturday, Nov. 12, at 10 a.m. at the Shelby Farms’ Chickasaw Trial.

All money raised from the 2.75-mile walk/run will go directly to the Multiple Myeloma Research Foundation, which is dedicated to raising funds for myeloma research

Registration for the walk/run will begin at 8:30 a.m. in the Shelby Farms Visitors Center.

For more information or to make a donation, volunteer or register, visit www.memphismiles.com.

– Taylor Shoptaw

STCC Communications Dept. Receives 15 MarCom Awards

Southwest Tennessee Community College’s communications and marketing department has won 15 MarCom Awards in the Association of Marketing and Communication Professionals’ 2011 MarCom competition.

The awards are split into three categories: Platinum Awards are given for entries deemed to be the most outstanding in the competition; Gold Awards represent exceeding the standards of industry norm; and Honorable Mention awards are given to entries that meet quality expectations.

Southwest won the following awards: Platinum, 2009-10 Annual Report; Platinum, Southwest Website Graphics; Gold, Southwest Now Magazine Fall 2010; Gold, Southwest Now TV Show (10th anniversary show); Gold, Southwest Website Advertising (pop-ups, banners); Gold, Your Best Choice Bus King (outdoor media); Gold, Your Best Choice Registration Ad (magazine); Honorable Mention, 2010-11 Southwest Catalog; Honorable Mention, Hieroglyph 2010; Honorable Mention, I Chose Southwest, Alumni Ad Testimonials; Honorable Mention, 2010-11 Lady Saluqis Basketball Media Guide; Honorable Mention, 2010-11 Saluquis Basketball Media Guide; Honorable Mention, Southwest Scoop Newsletter Issue #380; Honorable Mention, Website, www.southwest.tn.edu; Honorable Mention, Your Best Choice Billboard (outdoor media).

– John Lintner

UTHSC Communications Dept. Wins MarCom Awards

The communications and marketing department at the University of Tennessee Health Science Center was among the winners in the Association of Marketing and Communication Professionals’ 2011 MarCom Awards.

The department received a Platinum MarCom Award for its UTHSC Centennial Campaign in the Marketing/Promotion Campaign/Materials category and a Gold MarCom Award for the Plough Donation Announcement in the Media Response category.

The competition is one of the largest of its kind in the world and includes entries submitted from corporate marketing and communications professionals, advertising agencies, PR firms, design shops, production companies and freelancers.

– Aisling Maki

Homewood Suites' Duncan Receives Leadership Award

Bill Duncan, global head of Brand Management for Homewood Suites and Home2 Suites by Hilton, has received the Executive Leadership Award at the Corporate Neighbor Awards breakfast held at the Memphis Botanic Gardens.

The Executive Leadership Award is given to an individual who best demonstrates personal participation in volunteerism and encourages, fosters and supports employee volunteerism within his company.

Duncan guides both hotel brands’ philanthropic and volunteer efforts, placing a specific focus on literacy-based causes. Homewood Suites is a partner of early childhood education and literacy advocacy group Books for Kids, and has opened four libraries with the organization in Memphis, Washington D.C., Dallas and Phoenix.

Duncan is also the author of Homewood Suites’ children’s book series centered on the brand’s mascot, Lewis the Duck.

Duncan currently is on the board of directors of the National Coalition for the Homeless as well as several nonprofits in the Memphis area. He and his wife founded the Shelby County Race for Education in 2001, which raises money for arts, music and physical education programs in Shelby County Schools.

The Corporate Neighbor Awards are presented by the Memphis Corporate Volunteer Council, which is a program of Volunteer Mid-South and a member of the Corporate Volunteer Council.

– Taylor Shoptaw

Rate on 30-Year Mortgage Below 4 Pct. for 2nd Time

The average rate on the 30-year fixed mortgage fell below 4 percent for just the second time in history.

Freddie Mac said Thursday, Nov. 10, the rate on the 30-year fixed loan fell to 3.99 percent, down from 4 percent last week. Five weeks ago, it dropped to a record low of 3.94 percent, according to the National Bureau of Economic Research.

The average rate on the 15-year fixed mortgage fell last week to 3.30 percent from 3.31 percent. Five weeks ago, it too hit a record low of 3.26 percent.

Mortgage rates track the yield on 10-year Treasury note, which fell this week as investors shifted money into safer Treasurys amid fears Europe’s debt crisis could worsen.

Low mortgage rates have done little to boost home sales. Rates have been below 5 percent for all but two weeks this year. Yet home sales are on pace to be the lowest in 14 years.

Refinancing activity jumped more than 12 percent last week from the previous week, to the highest level in a month, according to the Mortgage Bankers Association.

– The Associated Press

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