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VOL. 127 | NO. 15 | Tuesday, January 24, 2012

Daily Digest

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Family Dollar Bldg. Sells for $1.1M

Texas-based DCTN3 330 Highway 61 Memphis TN LLC has bought a Family Dollar building on 3390 U.S. 61 (also known as South Third Street) from Marketplace Development LLC for $1.1 million. In conjunction with the purchase, DCTN3 330 filed a $800,200 trust deed through Bank of the Ozarks.

Built in 2011, the 8,320-square-foot Class B building is on 0.9 acres on the east side of U.S. 61 north of East Mitchell Road in the Third and Mitchell Commercial Subdivision.

The Shelby County Assessor of Property’s 2011 appraisal is $118,500.

The plat for the subdivision, filed with the Shelby County Register in late 2010, shows the subdivision encompassing about 1.8 acres running from the Family Dollar lot south to the corner of U.S. 61 and East Mitchell. The plat includes two other lots and space for a billboard.

Marketplace Development bought then-vacant property in early 2011 from Belz Investco GP with plans for a build-to-suit Family Dollar store.

Source: The Daily News Online & Chandler Reports

– Daily News staff

UTHSC Narrows Search for Dean of Nursing

The University of Tennessee Health Science Center search committee charged with finding a candidate to fill the position of College of Nursing dean has selected three finalists.

They are Sally J. Reel, associate dean for academic practice and clinical professor, College of Nursing, and director, Arizona Area Health Education Centers Program, University of Arizona; Laura A. Talbot, Dean W. Colvard Distinguished Professor in Nursing, professor, and director of the Health Services Research Ph.D. Program, College of Health and Human Services, University of North Carolina at Charlotte; and Sarah Ann Thompson, professor and associate dean of academic programs in the College of Nursing, and professor in the College of Public Health, Department of Health Services Research and Administration, University of Nebraska Medical Center.

During the next few weeks, each finalist will visit the campus in Memphis for two days of meetings and interviews.

The search began in August by a 14-member search committee co-chaired by Kennard Brown, executive vice chancellor and chief operations officer at UTHSC, and Dr. David Stern, executive dean of the College of Medicine and interim vice chancellor of research at UTHSC. The committee has had the assistance of Parker Executive Search, an Atlanta-based firm.

– Taylor Shoptaw

Parham Estate Planning Changes Name, Logo

Memphis-based Parham Estate Planning firm is changing its name to Parham Estate Law in a rebranding initiative that also includes a new logo.

Tactical Magic assisted in the rebranding.

Founded in 2009, Parham Estate Law provides a full spectrum of estate counsel encompassing tax planning, wills, trusts, probate and charitable giving.

– Sarah Baker

Methodist Procedure Corrects Heartbeat

Methodist Le Bonheur Germantown Hospital is now offering a treatment that freezes the heart to correct patients’ heartbeats and improve their quality of life.

More than 2 million Americans have atrial fibrillation, or an irregular heartbeat -- the most common and one of the most undertreated heart rhythm disorders in the country. If left untreated, atrial fibrillation can lead to a stroke.

The hospital is offering cryoablation, a minimally invasive procedure performed in the catheterization lab. A catheter is inserted through a vein in the leg and threaded up to the heart. Once the catheter is positioned in the heart, it freezes areas around the pulmonary veins, which is where the electrical impulses that cause a rapid and uneven heartbeat originate.

The procedure only requires an overnight stay in the hospital before patients can return home.

– Aisling Maki

Tickets Now Available for C-USA Tourney

All-session tickets are now available for the Conference USA men’s and women’s basketball tournaments March 7-10, hosted by the University of Memphis.

The 11 games of the men’s championship will take place Downtown at FedExForum. The women’s championship games will take place on the U of M campus at the Elma Roane Fieldhouse the first two days and will move to FedExForum for the semifinals and championship game.

The all-session tickets are available at www.gotigersgo.com and through the University of Memphis ticket office at 678-2331. Single-session tickets will not go on sale until the week of the tournament. Buying a men’s tournament ticket will also provide access to the women’s tournament for the date specified on the ticket.

– Andy Meek

Lawmakers Debate Cutting Some HOPE Scholarships

A proposal from a panel of state lawmakers would reduce by 50 percent the lottery scholarship awards – also known as HOPE scholarships – for students who do not meet both standardized testing and high school grade requirements.

Right now, students can get a scholarship worth $4,000 for each of four years if they either earn a 3.0 grade point average in high school or score a 21 on their ACT college entrance exam.

Students who attend a four-year institution and meet one of the criteria would get a two-year award amount under the plan. Those who meet one of the criteria and retain the award through year two would be eligible for a full award in year three.

The plan, which doesn’t apply to students attending community colleges, is estimated to generate about $13 million in savings the first year and $17 million each year thereafter.

But opponents of the plan say it’s unnecessary because the lottery scholarship program currently has nearly $400 million in reserves and tickets for the Tennessee Lottery’s popular Powerball game have increased by a dollar, which will likely mean additional revenue for the future.

Lottery officials announced strong second-quarter results last week that raised $78.2 million for state education programs, an increase of almost $5.8 million over the same quarter last year. Gross sales for December — $114.2 million — were the highest of any December since the lottery’s inception in 2004, officials said.

– The Associated Press

GOP Proposals Take Aim at Tennessee Courts

Republicans in the Tennessee Legislature are taking a close look at the judiciary branch this year, with several proposals expected to be taken up early in the session.

Senate Speaker Ron Ramsey told reporters last week that he plans to get fellow lawmakers to take the first step toward approving a constitutional amendment to resolve legal questions about the way appeals judges are appointed and retained.

Ramsey said he is joined by Gov. Bill Haslam and House Speaker Beth Harwell in opposing the popular election of Supreme Court justices.

Ramsey said he also expects lawmakers will replace a commission that disciplines Tennessee judges to promote greater transparency, though he said he disagrees with a fellow Republican senator’s proposal to strip the courts of the power to throw out state laws.

– The Associated Press

Forecasters See Pickup in 2012 Economic Growth

A new forecast calls for the U.S. economy to make some modest growth strides this year, but not quite enough to significantly reduce the number of jobless Americans looking for work.

About two-thirds of the economists who participated in the latest National Association for Business Economics survey expect the nation’s gross domestic product, or GDP, to grow at a rate above 2 percent this year, according to the outlook released Monday, Jan. 23.

GDP reflects the economy’s total output of goods and services. The latest forecast is in line with one issued by the group in November that called for the economy to grow 2.4 percent this year.

GDP growth needs to be above 3 percent to significantly lower unemployment.

– The Associated Press

PROPERTY SALES 70 70 1,045
MORTGAGES 79 79 1,199