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VOL. 126 | NO. 187 | Monday, September 26, 2011

Daily Digest

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Memphis Partnership Buys 65 Memphis-Area Properties

RJ Real Estate Holdings GP, a Tennessee general partnership composed of Richard A. Cole and Jack A. Whitaker Jr., has bought properties in Shelby, Tipton and DeSoto counties for $3.2 million from Aubrey Bruce Wring; Virginia A. Wring; Aubrey B. Wring and Virginia A. Wring, trustees of the Wring Family Revocable Trust; Wring Real Estate LLC; Affordable Management LLC; and A&B Enterprises LLC.

The sale was financed with a $3.1 million loan through First Capital Bank.

The Shelby County properties include seven sites in Arlington, two sites in Bartlett, five sites in Cordova and 51 in Memphis.

In April, RJ Real Estate Holdings bought properties in lieu of foreclosure for $3 million from the same parties. That sale included 53 properties in Shelby County, one in Tipton County and one in Marshall County, Miss.

Sale documents list RJ Real Estate Holdings’ address on Old Summer Road.

Source: The Daily News Online & Chandler Reports

– Kate Simone

Goodspeed Named CIO at ServiceMaster

Linda Goodspeed is the new chief information officer at The ServiceMaster Co., the latest appointment to the top ranks of the Memphis-based company by ServiceMaster CEO Hank Mullany.

Goodspeed comes to Memphis from Nissan North America where she was also CIO. She starts her new job Oct. 3.

She replaces Dan Marks, who becomes vice president and technology officer reporting to Goodspeed.

Earlier this month, Mullany named Bill Sublette as vice president of sales for ServiceMaster’s TruGreen brand. In the move, Sublette will do double duty as he retains his duties running Terminix contact centers in Memphis, Dallas and Atlanta.

Steve Good, who had been Terminix senior vice president of business development, is now vice president of sales at Terminix.

Mullany is remaking the TruGreen division and modeling it on Terminix.

– Bill Dries

Metropolitan Bank Expands to Nashville

Metropolitan Bank is expanding into Nashville.

The bank, which is co-headquartered in Memphis and in Ridgeland, Miss., has hired Bill Menkel as president of the Nashville market. An initial office location is being sought in addition to key talent, all of which is pending regulatory approval for the bank’s expansion.

Menkel has three decades of experience in the banking industry, including 15 years at the executive level at National Bank of Commerce.

“I’m thrilled to be on board with such a nimble, progressive organization, and I’m already truly impressed by the company’s organizational culture and beliefs,” Menkel said in a statement. “Metropolitan’s vision for market expansion and its reputation for and commitment to an unsurpassed client experience, coupled with my history and knowledge of the Nashville market, will allow us to build a strong and exciting Nashville bank.”

Curt Gabardi, Metropolitan’s founding president and CEO, said expansion into Nashville and other growth markets in Tennessee has been a key strategy for Metropolitan since its inception. Gabardi also is a former Nashville resident and past regional president for Regions Bank.

Metropolitan hopes to have a location chosen by the end of the year and plans to open an office in early 2012.

– Andy Meek

City Council Delays MLGW Insurance Contract

A fight for a $122 million health insurance contract that began last year continued last week as the Memphis City Council delayed approval of the contract between CIGNA and Memphis Light, Gas and Water Division.

The contract, which is now with United Healthcare, has been hotly disputed since last year by the two companies. The MLGW board picked CIGNA in a process that included an appeal by United Healthcare. MLGW president Jerry Collins said further review would amount to giving United Healthcare a “seventh bite at the apple.”

“If you send it back, you are telling us the appeals process has no value,” he said. “Let the appeals process stand.”

Council member Jim Strickland sought the delay saying he needed more information than “two lines on one piece of paper” about the contract.

“I think I deserve a little more information than that,” he said.

– Bill Dries

First Horizon Receives Employer of Choice Awards

Memphis-based First Horizon National Corp. has received three employer of choice awards.

AARP has ranked First Horizon fourth on its list of the nation’s top 50 employers for workers older than 50.

First Horizon earned a spot on Working Mother magazine’s list of the 100 Best Companies for Working Mothers for the 17th consecutive year.

The Dave Thomas Foundation for Adoption ranked First Horizon 56th on its list of Best Adoption-Friendly Workplaces.

First Horizon National Corp. employs 4,800 people in almost 180 First Tennessee Bank locations in and around Tennessee and 18 FTN Financial Group offices in the United States and abroad.

– Taylor Shoptaw

Innovative Back Surgery Performed at Saint Francis

Saint Francis Hospital-Memphis announced local spine surgeon Dr. Douglass A. Linville II, working with the new Saint Francis Joint and Spine Center, has performed what they say is the area’s first Sacroiliac (SI) Joint fixation surgery using the minimally invasive iFuse Implant System.

Hospital administrators say the iFuse procedure is promising for patients with unresolved low back symptoms related to the SI Joint, which connects the sacrum with the pelvis iliac crest. The joint can become damaged because of injury or due to normal wear and tear over time, causing significant discomfort and debilitation.

According to published literature, up to 25 percent of all low back symptoms originate with the SI Joint, which is often overlooked when diagnosing lower back pain.

The iFuse procedure takes roughly one hour and involves three small titanium implants inserted surgically across the SI Joint. The entire process is done through a small incision, with no soft tissue stripping and minimal tendon irritation.

– Aisling Maki

School Supplies Drive Kicks Off This Week

The Memphis Mortgage Bankers Association, Memphis Chick-fil-A stores, Car Wash USA and The Kindness Revolution have joined forces to collect school supplies for needy students during the last week of September.

Beginning Monday, Sept. 26, and running through Oct. 1, anyone who donates a minimum of $2.50 worth of school supplies will receive their choice of a free chicken sandwich at Chick-fil-A or a free car wash at Car Wash USA.

Both organizations are corporate partners with The Kindness Revolution, a local advocacy organization that promotes the importance of values.

Area Chick-fil-A stores will have posters displaying the needs of the students as well as drop-off receptacles.

For more information about the school supply drive, contact Kim Dickerson of the Memphis Mortgage Bankers Association at Kim.Dickerson@memphismba.org.

– Taylor Shoptaw

Humane Society to Hold Fundraiser

The Humane Society of Memphis & Shelby County will host Paw Prints 2011, its largest fundraiser, Saturday, Oct. 1, from 7 p.m. to 11 p.m. at the Memphis Botanic Garden, 750 Cherry Road.

Paw Prints 2011 will feature light hors d’oeuvres and dinner, live and silent auctions, and live entertainment from opera soprano Kallen Esperian, vocalist Susan Marshall and classical guitarist Lily Afshar.

Tickets are $100 per person and $150 per couple in advance, or $100 per person and $200 per couple at the door. Two drink tickets will be included with each paid ticket, and a cash bar will be available throughout the evening.

To buy tickets, visit www.memphishumane.org.

– Taylor Shoptaw

PROPERTY SALES 53 210 10,146
MORTGAGES 53 214 11,160
BUILDING PERMITS 245 474 22,646
BANKRUPTCIES 271 271 6,490