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VOL. 128 | NO. 146 | Monday, July 29, 2013

Daily Digest

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Airport Authority Buys ParkIt Here Facility

The Memphis-Shelby County Airport Authority has closed on its $1.5 million purchase of the ParkIt Here parking facility at 3441 Airways Blvd.

The authority bought the 12.4-acre property in a July 23 special warranty deed from successor trustee Dennis W. Meyer.

The Airport Authority’s board of commissioners in May approved the purchase agreement for the property, at the northwest corner of Airways and Winchester Road, for future use as a rental car maintenance and storage facility.

Formally, the seller, as listed in the deed, was: Dennis W. Meyer, CPA, as successor trustee to Commercial and Industrial Bank, a Tennessee state chartered banking institution, as trustee under a Trust Agreement dated December 18, 1984, for Anna Catherine Ellis, beneficiary, and Dennis W. Meyer, CPA, as successor trustee to Commercial and Industrial Bank, a Tennessee state chartered banking institution, as trustee under a Trust Agreement dated December 18, 1984, for Charles Stanley Ellis, beneficiary.

Built in 2006, the ParkIt Here facility includes a 5,828-square-foot facility. The property has a 2013 appraised value of $2.6 million, according to the Shelby County Assessor of Property.

Source: The Daily News Online & Chandler Reports

– Daily News staff

$1 Million Casino Promotion Wraps Up

Caesars Entertainment at week’s end had minted the 17th and final millionaire in a consecutive weekly millionaire drawing at its Harrah’s, Horseshoe and Tunica Roadhouse casinos in Tunica.

The Millionaire Maker powered by Total Rewards “One Winner – One Million Dollars – Every Saturday” giveaway has been billed as the richest consecutive weekly casino promotion ever.

Caesars launched the promotion with a splashy event in Downtown Memphis.

Prior to the March 29 Memphis Grizzlies game, illusionist Rob Lake performed a feat on FedExForum’s outdoor plaza. As a crowd of onlookers watched, he made an armored truck appear out of thin air.

The point being that Caesars is making millionaires out of thin air, so it makes sense to do the same for the vessel that delivers the cash.

Caesars owns three of the nine casinos in the immediate Tunica area.

– Andy Meek

Cochon Heritage BBQ Event Shifts to Beale Street Landing

The Cochon Heritage BBQ series has changed venues.

The series, which also is now being promoted by a different PR agency, originally was supposed to take place at The Peabody hotel. It will still happen Aug. 30, but the new venue it’s announced is Beale Street Landing.

When asked the reason for the change, Cochon555 founder Brady Lowe pointed to the river.

“We were really excited to see Beale Street Landing open up and it was a chance to take our event down by the river in a new event space,” he said.

Also as part of new information released in recent days about the event, a list of competing chef teams in Memphis has been announced. They are Ryan Trimm of Southward (Memphis), Travis Grimes of Husk Restaurant (Charleston), Michael Scelfo of Alden & Harlow (Boston), Jackson Kramer of Interim Restaurant (Memphis), Craig Blondis of Central BBQ (Memphis), Chad Clevenger and Nick McCormick of Alma Cocina / Tap A Gastropub (Atlanta), and Rick Farmer and Miles McMath of St. Jude’s Culinary Team (Memphis).

– Andy Meek

Anderson to Lead Stand for Children

Betty Anderson, a consultant and strategist for the Tennessee Charter Schools Association, is the new executive director of Tennessee Stand for Children.

Anderson leads the Tennessee chapter of the national education reform group that has been heavily involved in the local schools reform debate and discussions about the consolidation of schools in Shelby County.

Anderson is a former chief lobbyist and assistant executive director of the Tennessee Education Association. She was also a legislative liaison for Tennessee Gov. Ned McWherter and she was public policy group leader at the Baker, Donelson, Bearman, Caldwell & Berkowitz law firm.

– Bill Dries

US Consumer Sentiment Reaches 6-Year High

Americans are more confident about the economy than at any time since July 2007, a survey found, suggesting consumers will spend more and accelerate growth in the months ahead.

The University of Michigan said Friday that its final reading of consumer sentiment in July was 85.1. That’s up one point from June but nearly 13 points higher than a year ago.

Rising home prices and steady job gains are boosting household wealth and income. The proportion of Americans who expect their inflation-adjusted incomes to rise in the coming year is greater than at any time since late 2007, the survey found. And the percentage of Americans who say their home values have risen is also at a six-year high.

Consumer confidence is closely watched because their spending accounts for 70 percent of growth.

The University of Michigan polls roughly 500 people throughout the month and issues two readings. Americans’ expectations for future growth dipped, while their assessment of current conditions improved.

Consumers have been resilient despite paying higher taxes this year. Their spending growth likely slowed in the April-June quarter after rising at the fastest pace in two years in the first quarter.

But with hiring solid and confidence rising, most economists forecast consumers will step up spending and help propel economic growth later this year.

– The Associated Press

Study: Tennessee Attorneys Volunteer More Than 800,000 Hours

A new study shows Tennessee attorneys volunteer more than 800,000 hours a year.

The report released by the Tennessee Supreme Court’s Access to Justice Commission shows that in 2011 the number of hours that Tennessee attorneys volunteered their services nearly tripled from 2009.

In 2011, 9,736 attorneys practicing in Tennessee provided 804,961 hours of pro bono work, an average of nearly 83 hours per attorney.

There were a total of 21,111 attorneys licensed in Tennessee in 2011, which means 46 percent reported participating in pro bono activity. Only 18 percent reported pro bono work in 2009.

According to the study, this demonstrates a 173 percent increase in pro bono hours reported from 2009 to 2011.

– The Associated Press

Keep Tennessee Beautiful Hires New Director

Keep Tennessee Beautiful has hired Melissa Marshall to be its new executive director. Marshall has more than 20 years of public service experience.

Prior to her recent appointment, Marshall served nine years as director of communications and external affairs for the Tennessee Department of Intellectual and Development Disabilities.

Keep Tennessee Beautiful is a public service agency funded by the Beverage Association, Malt Beverage Association and the Tennessee Department of Transportation.

TDOT and the agency partner on initiatives to educate and encourage Tennesseans to take responsibility for improving their communities and the environment.

– The Associated Press

Arkansas Officials to Meet Tribe About Indian Site

Officials in Arkansas are to meet with the Quapaw Tribe of Oklahoma to discuss a recently discovered Indian village in northeast Arkansas where a $1.1 billion steel mill is to be built.

A tribal spokesman says next Wednesday’s meeting in Osceola will be with Arkansas and Mississippi County economic development officials and the state archaeologist. Officials say the meeting will not be open out of concern that publicizing the location of the site could lead to plundering.

The Arkansas Democrat-Gazette reported Friday that it asked Economic Development Commission Director Grant Tennille to open the meeting under the Arkansas Freedom of Information Act.

The county has allocated $14.5 million and the state promises $125 million in bonds for the Big River Steel mill that officials say will create 525 jobs.

– The Associated Press

PROPERTY SALES 63 441 6,018
MORTGAGES 72 450 6,721
BANKRUPTCIES 0 1,045 4,093