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VOL. 127 | NO. 49 | Monday, March 12, 2012

Daily Digest

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SEFL Transit Memphis Files $2.5M Permit App.

Southeastern Freight Lines has filed a $2.5 million building permit application to add an office and parking lot to its transit center at 4450 Getwell Road.

The permit lists Nashville-based D.F. Chase Inc. as the general contractor.

Lexington, S.C.-based Southeastern Freight Lines’ Getwell Road property is between Crowfarn Drive to the north, East Shelby Drive to the south and Delp Street to the east.

SEFL has 6,600 associates and operates in 12 states and Puerto Rico, according to the company’s website.

Its Tennessee’s transit centers are in Memphis, Jackson, Kingsport, Knoxville and Nashville.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Iberiabank Celebrates 125th Anniversary

Iberiabank is celebrating its 125 anniversary this year with activities aimed at giving back to the community.

One promotion: Each branch is giving away an Apple iPad. No purchase is necessary, and legal residents of the U.S. 18 years of age or older may enter by completing an entry form at any branch location or by “liking” the company’s Facebook page and completing an online registration form. Entry forms will be accepted Monday, March 12, to April 30.

On Wednesday, March 14, Iberiabank associates will engage in random acts of kindness by offering to pump and pay for as much as $20 in gas for individuals at several gas stations in the Memphis area. More than $12,500 in gas will be given away companywide.

– Andy Meek

Memphis Invest's Clothier to Speak at Nat'l Conference

Chris Clothier, partner at Memphis Invest, will speak at the annual BiggerPockets Real Estate Investing Summit this month.

BiggerPockets Inc. is an online news source for the real estate investment industry, focused on educating real estate professionals throughout North America. Clothier is a regular contributor to the website and provides his insights into successful real estate investing each week on the BiggerPockets Expert Blog.

Clothier will host “Doing That Thing You ‘Due’ in 2012” – a session that will focus on how to conduct due diligence for each property investment opportunity. His March 24 talk will be Clothier’s first presentation at the annual summit.

Clothier and his team at Memphis Invest currently manage more than 1,100 rental homes in the Memphis and Dallas areas on behalf of hundreds of out-of-state real estate investors who solely own the properties.

Memphis Invest locates, renovates and sells the properties to investors. The company then manages each property on behalf of the investor after that transaction takes place.

– Sarah Baker

Petties Org Trial Defense Opens Case Monday

Defense attorneys in the Petties drug organization trial begin presenting their case Monday, March 12, in Memphis federal court.

Clinton Lewis and Martin Lewis are charged with drug conspiracy, racketeering and murder for hire.

Prosecutors rested their case in chief late last week after four weeks of testimony that included numerous members of the violent multi-state drug organization with direct ties to the Sinaloa drug cartel in Mexico.

The upcoming week will be a short one for the trial; court is not in session Thursday and Friday, March 15-16.

Attorneys for the Clinton Lewis and Martin Lewis could present all of their cases during the three days court is in session. Both sides would then make closing statements to the jury Monday, March 19, with jury instructions that same day from Federal Court Judge Hardy Mays.

– Bill Dries

On Location: MEMPHIS Announces Passes, Grant

On Location: MEMPHIS festival passes are now on sale at www.onlocationmemphis.org.

The all-access pass is $60 and gains the holder admittance to all films, music events, parties, panels and workshops during the festival, which will be held at several Malco theaters April 19-22.

The weekend pass is $30 and covers films being shown at the Malco Ridgeway Four on April 21-22. Weekend passes can only be claimed on those two days.

The list of films being screened can be found on the website. Schedules of all events are being finalized and will be posted once they are confirmed.

On Location: MEMPHIS also has been awarded a grant from the Film Festival Committee of the Broadcast Film Critics Association for the second consecutive year to assist with its production.

– Taylor Shoptaw

State Promoting 'CSA' Agriculture Model

The Tennessee Department of Agriculture is promoting community supported agriculture.

CSA is a business model through which a non-farmer purchases a share or half-share of a real farmer’s harvest – often before the crops are even planted.

State officials say such arrangements are a national trend. They are popular with farmers because they can pay for the seed, fuel and other expenses to farm for the year. For consumers, they get fresh, local food already paid for. Fees vary.

CSAs keep food dollars – and the farmlands where they’re produced – in the community.

A spring-summer CSA share typically lasts from late May until early November. Tennessee CSAs are accepting customers now.

A directory of CSAs is at www.picktnproducts.org.

– The Associated Press

OPEC Sees Oil Market Staying Flat in 2012

OPEC is predicting a flat market for oil due to weak economic performance in developed nations.

The Organization of the Petroleum Exporting Countries’ latest monthly forecast sees world oil demand to grow by 900,000 barrels a day – unchanged from its previous report.

In its forecast issued Friday, OPEC says “the weak pace of growth in the OECD economies is negatively affecting oil demand.”

The forecast goes on to say that while the U.S. economy has improved, Europe’s debt crisis “along with higher oil prices has resulted in considerable uncertainties for future oil demand for the rest of the year.”

– The Associated Press

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