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VOL. 127 | NO. 97 | Thursday, May 17, 2012

Daily Digest

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$2.1M Permit App Filed to Reroof U of M Bldgs.

The University of Memphis is planning to reroof several buildings on its main and Park Avenue campuses as well as at Chucalissa, according to a $2.1 million building permit application filed with the city-county Office of Construction Code Enforcement.

The scope of work includes roof replacements on the main campus at the Center for Earthquake Research and Information, Ball Hall, the Communication and Fine Arts building auditorium, Campus School and the Barbara K. Lipman Early Childhood School and Research Institute.

It also includes three buildings on the Park Avenue (south) campus, as well as the C.R. Nash Museum at the Chucalissa archaeological site.

No general contractor is listed on the permit application.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Council OKs Soup Kitchen, Delays Adult District Talks

The Memphis City Council delayed Tuesday, May 15, a discussion of a proposal by council member Shea Flinn to look into a red light district for strip clubs and adult bookstores.

Flinn delayed a discussion of his resolution to appoint an ad hoc committee that would explore the idea as committee sessions on other unrelated topics ran long Tuesday.

The first half of committee sessions Tuesday was devoted to council budget deliberations.

Also during committee sessions, council members recommended a $2 million grant from one-time capital improvement projects money to encourage private redevelopment efforts at the Chisca Hotel at Linden Avenue and South Main Street. The amendment to the CIP budget must be approved by the full council in votes next month.

The full council approved a soup kitchen to be run by the St. Vincent DePaul Society at Monroe Avenue and Claybrook Street. The indoor kitchen will replace a nearby soup kitchen on Cleveland Street the Catholic charity has run for several decades.

The special-use permit drew opposition from several neighboring businesses as well as the Memphis Medical Center. But it was approved on a 10-2 vote. The permit includes a four-year sunset provision, meaning it will come back to the council for reapproval in May 2016.

The council approved a grant contract between the city and the U.S. Department of Commerce for $2.1 million in funding for the Presidents Island rail project that entails infrastructure for the Cargill Corn Milling operation.

And the council approved a planned development at the Crescent Center, at Poplar Avenue and Ridgeway Road for two freestanding restaurants.

– Bill Dries

Renshaw Property Mgmt. Launches Rental App

Memphis-based Renshaw Property Management recently launched an app seeking to simplify the renting process by allowing users to filter the company’s available properties by price, neighborhood and home features.

Users can also create a list of their favorites to send to the agent all at once or view available properties on a map.

Unlike third-party apps like Trulia and Zillow that pull information from a variety of sources, the company’s app allows users to contact agents directly through the platform.

So far, the month-old app has seen nearly 400 downloads on the iPhone and Android platforms.

To download the app, search “Renshaw” in the App Store or on Google Play.

Founded in 2007, Renshaw Property Management currently manages nearly 800 rental properties in the Mid-South.

– Sarah Baker

Ohio State Univ. Dean Shipp to Address SCO Grads

Dr. Melvin Shipp, dean of the Ohio State University College of Optometry and the first optometrist to serve as president of the American Public Health Association, will address graduates Friday, May 18, at the Southern College of Optometry’s commencement ceremony in Memphis.

Shipp will speak to 121 graduates about the field of optometry, the future of health care and the opportunities that exist in both, during the ceremony, which will take place at 3 p.m. at Mississippi Boulevard Christian Church, 70. N. Bellevue Boulevard.

Prior to taking over as president of APHA, Shipp served on the organization’s board as a member from 1999 to 2007 and treasurer from 2001 to 2007. He also held numerous other positions within the organization.

In addition to his work with APHA, Shipp has served as an adviser for several federal institutions, including the U.S. Food and Drug Administration, Health Resources and Services Administration, and the National Eye Institute of the National Institutes of Health.

Shipp’s research interests include the evaluation of the impact of vision-related public policy and the reduction of racial and ethnic eye and vision health disparities.

– Aisling Maki

Ernst & Young, Wunderlich Announce New Positions

Glenn Mitchell is taking over as the managing partner of Ernst & Young’s Memphis office from retiring partner Bill Drummond, effective July 1.

Drummond is retiring after more than 36 years with the accounting giant. As managing partner of the Memphis office, he has been responsible for managing Ernst & Young’s services and business relationships throughout the Memphis and West Tennessee areas

Meanwhile, Memphis-based Wunderlich Securities has added some new talent to its equity capital markets business and its private client group, several of whom recently worked at Morgan Keegan & Co. Inc.

Ted Cashion, Burton Milnor and Scott Poore have joined the private client group and Matt Hayden, William Kitchens and Jason Wangler have joined the equity capital markets side.

Cashion, Milnor, Poore, Hayden and Kitchens all come from various roles at Morgan Keegan.

– Andy Meek

US Factory Output Rose in April on Stronger Autos

U.S. factory output increased in April, helped by a gain in auto production. Busier factories have driven stronger hiring this year and helped the economy grow.

The Federal Reserve said Wednesday that factory production rose 0.6 percent in April, erasing a 0.5 percent decline in March.

Half of the April increase reflected a 3.9 percent jump in the production of motor vehicles and parts. That’s the fifth consecutive gain at auto plants and the biggest rise since January.

Overall industrial production increased 1.1 percent in April. In addition to the big gain at factories, output at mines and utilities both showed strong gains.

Factory output has risen 18.3 percent since it hit a low in June 2009, the month the recession ended. Through the first three months of the year, it was growing at an annual rate of nearly 10 percent.

Paul Ashworth, an economist at Capital Economics, said the report is a good sign that “the U.S. economy, for now at least, is shrugging off the euro-zone crisis and the slowdown in China.”

– The Associated Press

PROPERTY SALES 105 193 8,028
MORTGAGES 120 239 9,024
BUILDING PERMITS 192 445 17,512
BANKRUPTCIES 27 69 5,228