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VOL. 128 | NO. 4 | Monday, January 7, 2013

Daily Digest

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Owner of Winchester Lit Files $1.1 Million Loan

The partnership related to the Lit Refrigeration Co. restaurant supply stores has filed a $1.1 million loan on the Lit Jr. store at 1665 Winchester Road in Whitehaven.

Noble Partners Winchester LLC filed the loan Dec. 12 through Regions Bank with Samuel A. Notowich and Scott D. Blen signing the trust deed as members of the borrower. The word “Noble” comes from the first few letters of each partner’s last name.

The company bought the former Chism Trail grocery store in 2009 for $500,000 from Remark Chism, turning it into a Lit Jr. store.

The Class C, 30,988-square-foot store, zoned for a supermarket, was built in 1976. It sits on 3.24 acres at the southwest corner of Winchester and Millbranch roads. The Shelby County Assessor of Property’s 2012 appraisal was $468,400.

Noble Partners Winchester financed its 2009 purchase with a $400,000 loan through SunTrust Bank.

The company lists a 309 Union Ave. address, which is home to Lit’s main restaurant supply store. The “Lit Jr.” store is smaller than Lit’s main store on Union and offers a slightly different product line.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Unemployment Benefits Extended in Tennessee

Tennessee residents will continue to get federal extended unemployment benefits for at least another year.

The Tennessee Department of Labor and Workforce Development had warned late last month that the benefits were about to expire.

But the agency announced last week that they have been extended through Jan. 1, 2014.

Congress created the Emergency Unemployment Compensation program in 2008 to provide unemployment benefits to workers who had exhausted their state benefits. The legislation has been amended 10 times since it became effective.

About 30,000 Tennesseans receive the benefits.

Labor Commissioner Karla Davis said in a news release that claimants can get help finding jobs by using the Jobs4TN.gov website or visiting one of the department’s career centers.

– The Associated Press

In-Synk Business Book Review Makes Changes for 2013

The two-year-old In-Synk Business Book Review is getting an upgrade in 2013.

It had been held on the first Friday morning of each month. But in the new year, it’s moving to the noon hour. It will include lunch, upgrading the series to a lunch-and-learn format.

The In-Synk Business Book Review will continue to introduce the content of a “latest or greatest” business or leadership book, after which a discussion will ensue. The first book review of 2013 will be Friday, Jan. 11, when Synk will review “Good Strategy, Bad Strategy: The Difference and Why it Matters,” by Richard Rumelt.

To celebrate the new time and the addition of lunch, Synk is offering a couple of other incentives to attend. All participants in the Book Review in 2012 are eligible for a free ticket. Two-for-the-price-of-one tickets also available, as is a six-ticket season pass.

To register for the January book review, visit http://insynkgoodstratbadstrat.eventbrite.com, or www.in-synk.com, or http://bookreviewseasonpass.eventbrite.com for a season pass.

The book reviews will continue to be held at the Triumph Bank board room at Poplar Avenue and Interstate 240. Doors will open at 11:30 a.m., the review begins at noon and will end by 12:45 p.m.

– Andy Meek

Laurenzi to Head Local Civil Rights Unit

Veteran federal prosecutor Larry Laurenzi is the new chief of the Civil Rights Unit of the U.S. Attorney’s office for the Western District of Tennessee.

Laurenzi was appointed to the post by U.S. Attorney Ed Stanton as Steve Parker leaves the post to join a U.S. Justice Department detail in New Orleans.

Stanton created the unit within the office in February 2011 as part of a new division of cases. The unit’s jurisdiction includes not only traditional civil rights violation investigations and cases but some government corruption cases as well as human trafficking cases and hate crime allegations.

Laurenzi has served several times as acting U.S. attorney for the district.

Assistant U.S. Attorneys Brian Coleman and Jonathan Skrmetti remain with the unit.

– Bill Dries

Ray Rico Freelance Moves Into Cooper-Young

Ray Rico Freelance has inked a lease for 550 square feet in the heart of the Cooper-Young Historic District after working for six years as a freelancer out of his nearby home and hiring strictly contract labor.

The space at 2294 Young Ave. sits on the opposite corner of the current Cooper-Young Business Association office. Previous tenants include Victory Bicycle Studio and Shoenista’s.

Rico had outside bricks sandblasted and constructed and painted inside walls in order to better prepare the space for client meetings. The team has already been working with Eric Mathews of LaunchMemphis on its one-year growth plan, to open Memphis’ first creative co-op.

Additionally, Ray Rico Freelance has created and filled two full-time positions. Kathy Benefiel, who has a background in the medical field, manages office administration and bookkeeping. Tammy Bryant, with past experience in print sales and advertising, oversees new business development and client expectations. Ray Rico Freelance also plans to employ a full-time Web developer.

Ray Rico Freelance specializes in branding and design, speedy printing and online marketing, including social media and website design. Other services include grant writing, promotional items, copywriting and editing, photography and videography.

Community partners include Leadership Memphis, Common Ground, Young Women’s Christian Association, Wolf River Conservancy, Memphis Academy of Science and Engineering, Mid-South Pride, Friends For Life Corp. and the Boys and Girls Club of Greater Memphis.

– Sarah Baker

TDOT: Fatality Totals to Run Only on Fridays

The Tennessee Department of Transportation will only display the state’s highway fatality rate on Fridays starting this year after months of running the numbers daily on digital message boards across the state.

State officials started displaying the running daily tally last April after seeing a sharp increase in fatalities in the first quarter of 2012. TDOT Commissioner John Schroer said he believes the public message campaign was successful, although the state still had more than 1,000 deaths on the highways in the past year.

TDOT will continue to run safety messages on other days that target issues like texting while driving, drowsy driving and driving under the influence.

– The Associated Press

Treasury Offers $50 Match for College Savings Plan

The Tennessee Treasury Department is extending a promotion offering a $50 match to Tennessee residents who sign up for the TNStars college savings plan.

TNStars allows participants to choose from 15 investment options, all with low fees. The money earned may be withdrawn tax-free to pay the educational expenses of the account’s beneficiary.

The child does not have to attend college in Tennessee. The funds can be used at any school eligible to receive U.S. Education Department student loan funds.

An account can be established for as little as $25, but those investing $50 or more will receive a $50 match.

In addition, Tennessee residents who roll over their entire account balances from a different state’s 529 college savings program will receive $100.

– The Associated Press

Lane of I-55 Bridge to Close This Week

Officials say a lane of the Interstate 55 bridge over the Mississippi River between West Memphis and Memphis will be closed temporarily this week as crews patch concrete.

The Arkansas State Highway and Transportation Department says there will be an alternating lane closure in the westbound lanes starting Monday and continuing through Jan. 11.

The lane closure will be in effect between 9 a.m. and 3 p.m. each day, weather permitting.

– The Associated Press

PROPERTY SALES 62 288 2,619
MORTGAGES 52 197 1,783