Crews Holdings Files Loan on 34 Lots in Wolf River Ranch
Crews Holdings has filed a $1.5 million loan through Triumph Bank on 34 lots in Wolf River Ranch Planned Development in Collierville.
Crews Holdings filed the loan Sept. 20; the financing includes an agreement from the bank to “grant a partial release for any lot sold with a payment to the lender of $64,000.”
The lots, most of which have a 2012 appraisal of $75,000 apiece, according to the Shelby County Assessor of Property, are in sections A and B of the development’s Areas D & E, Phase VI.
The subdivision’s Phase VI sits at the confluence of Shelton and Byhalia roads and Wolf River Boulevard.
BCCTT LLC, an entity owned by the four partners of Wolfby LP – Terry Dan, Terry Pagliari, Billy Perry and Charles “Chuck” Schadt – plus Charlie McCrory developed the 350-acre Wolf River Ranch.
Wolf River Ranch’s first phase began in 1997 and evolved into a subdivision called Saddlebrook. Subsequent phases have begun in the past decade with homes built by such local homebuilders as Terry and Terry Inc., Southern Serenity Homes LLC, John Worley Jr. Builders Inc., Hallmark Builders, Landon Homes LLC, Danny Tabrizi and Magnolia Homes.
Source: The Daily News Online & Chandler Reports
– Daily News staff
FedEx Freight Touts Faster Service, Growth
A resurgent FedEx Freight says it’s leaving less-than-truckload competitors in the dust with speedier shipments in 6,900 cross-country lanes.
The trucking unit of FedEx Corp. said Tuesday a new, in-house analysis proves FedEx Freight Priority has the fastest published transit times of any nationwide less-than-truckload (LTL) service.
FedEx Services in August surveyed and analyzed transit times published on websites with no access restrictions, looking at LTL companies that provide direct service to all 48 contiguous states.
The study followed a move on July 9 to improve transit standards on a net of 6,900 lanes served by FedEx Freight Priority and FedEx Freight Economy.
For example, the company improved transit standards on its Rochester (N.Y.)-Toronto and Atlanta-Tampa lanes from two days to one for FedEx Freight Priority, FedEx Freight spokeswoman Debra Phillips said.
“These enhancements are part of FedEx Freight’s ongoing commitment to transform LTL shipping with faster, more reliable service offerings that better fit the needs of businesses today,” said Bill Logue, FedEx Freight president and CEO.
FedEx Freight has become a bright spot in the company’s portfolio, although not to the same extent as the ground parcel delivery unit FedEx Ground, which posted half the parent company’s operating profit last fiscal year.
FedEx Freight, the nation’s largest less-than-truckload carrier by revenue in 2011, has gone from being a drag on company profits to turning in impressive gains in recent earnings reports.
In first quarter fiscal 2013 results announced last week, Freight increased revenue 5 percent, to $1.4 billion, from a year earlier, made $90 million in operating income, up 114 percent, and increased operating margin to 6.4 percent from 3.2 percent.
– The Associated Press
County Government Buildings Get Healthier Options
The 172 vending machines in 17 Shelby County government buildings are getting new snacks under a “Healthy Shelby” awareness plan carried out by Shelby County Mayor Mark Luttrell.
Luttrell ordered that half of the food in the machines to have no more than 35 percent of the calories from fat and no more than 10 percent of calories from saturated fats. The food meeting those standards in the machines will have stickers reading “Fit Pick.”
The “Fit Pick” brand uses criteria based on dietary recommendations of the American Heart Association.
– Bill Dries
Memphis Attorney Joins World Cataract Foundation
Attorney Richard Myers, partner and former managing partner of the Apperson Crump PLC law firm, has been elected to the board of the World Cataract Foundation.
Memphis-based WCF was formed in 1978 by a Memphis ophthalmologist, Dr. Jerre Freeman, to answer the challenge to create an inexpensive, high-quality intraocular lens to cure cataract blindness.
Myers, a California native, joined Apperson Crump, Memphis’ oldest, continuously operating law firm, in 1997 and has been a partner since 2002.
– Andy Meek
DMC to Honor Vision Award Recipients
Downtown Memphis Commission will present this year’s Downtown Vision Awards on Thursday, Sept. 27, at an open house party at its office, 114 N. Main St., from 4 p.m. until 6 p.m.
The awards honor those individuals and organizations that have made substantial contributions toward the advancement of Downtown Memphis. Recipients are selected by the chairs of the DMC and its affiliated boards.
This year’s recipients are Jason Wexler, president of Henry Turley Co. for Individual Achievement; University of Memphis Cecil C. Humphreys School of Law for Organization Achievement; Robert McGowan and Annie Mahaffey, “founders” of South Main Historic District for Visionary Awards; and Memphis history “storyteller” Jimmy Ogle for Special Merit Award.
Entertainment at the event will include Preston Shannon, Valeria’s Wings, Beale Street Flippers, Misti Rae Warren, Tiger High and more.
– Sarah Baker
Wharton Calls in TBI to Review Police Shooting
Memphis Mayor A C Wharton Jr. has called in the Tennessee Bureau of Investigation to investigate the shooting Monday, Sept. 25, by an off-duty Memphis police officer of 15-year old Justin Thompson in Wooddale. Thompson died from his wounds.
The outside investigation is unusual. Shootings or any firing of a service weapon by a police officer, off duty or on duty, are usually investigated within the Memphis Police Department.
Wharton’s announcement Tuesday also signaled what he said will be a wider review of police procedures including those in which police withhold releasing some details citing an ongoing investigation.
The officer, who is suspended with pay pending the outcome of the investigation, still had not been identified by Memphis Police late Wednesday morning. The TBI’s first public act in investigating the case was to release the name, patrol officer Terrance Shaw.
Wharton said information about the shooting near Winchester Road and South Perkins Road that he couldn’t release because of city and police policies prompted him to call for the outside investigation by the state agency.
With Memphis Police Director Toney Armstrong standing next to him, Wharton also questioned whether city procedures to screen police department applicants as well as those who want to work in other city departments are adequate. Wharton said he will soon assemble a group to review those procedures as well.
– Bill Dries
Fewer CEOs Planning to Expand, Hire
A survey of U.S. chief executives shows a sharp drop in the number of large companies that plan to add jobs or hire more workers.
The Business Roundtable said Wednesday that only 29 percent of its member CEOs plan to increase hiring over the next six months.
That’s down from 36 percent in June, when the group last released its quarterly survey. It’s also much lower than the 52 percent of CEOs in early 2011 who said they planned to boost hiring, the highest percentage since the survey began in 2002.
Only 30 percent of CEOs expect to increase their investment in capital goods such as machinery, computers or other equipment.
Companies usually buy such goods when they are expanding. That’s down sharply from 43 percent three months ago.
Large-company CEOs are more pessimistic about their future sales and the overall U.S. economy, the survey found. While 58 percent expect their sales to increase over the next six months, that’s down from 75 percent in the June report. And the CEOs forecast the economy will expand just 1.9 percent this year, below their 2.1 percent forecast three months earlier.
– The Associated Press