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VOL. 129 | NO. 63 | Tuesday, April 1, 2014

Daily Digest

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Owner of Air Trans Warehouse Files Loan

The owner of the 224,749-square-foot warehouse at 4120 Air Trans Road in Oakhaven has filed a $3.8 million loan on the property.

Spencer Property Inc. of Saltillo, Miss., near Tupelo, filed the real estate deed of trust through BancorpSouth Bank in January, although the Shelby County Register of Deeds didn’t process the document until last week.

Jim A. Spencer and Chadwick A. Spencer signed the trust deed as president and secretary, respectively, of the borrower.

Spencer Property bought the Class B facility following a foreclosure for $2.5 million last May from substitute trustee Patricia E. Adrian of the law firm Farris Bobango PLC.

The property went into foreclosure earlier that year when its previous owner, 4120 Air Trans Road LLC, defaulted on a $3.4 million loan through Prudential Mortgage Capital Corp. dated Jan. 27, 2006. That debt was later transferred to U.S. Bank NA.

4120 Air Trans Road is an affiliate of the Roseville, Calif.-based real estate development company Coastal Partners LLC.

Built in 1979, the warehouse sits on 16.4 acres on the east side of Air Trans Road at its intersection with Pidgeon Roost Road near East Raines Road and Lamar Avenue.

The Shelby County Assessor of Property’s 2013 appraisal of the property is $3.3 million.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Fincher Announces Re-Election Bid

U.S. Rep. Stephen Fincher of Frog Jump, Tenn., was expected to formally announce his re-election bid at a Republican Party event Monday, March 31, in Jackson, Tenn.

Fincher is seeking a third two-year term representing the 8th Congressional District, which covers rural West Tennessee as well as part of East Memphis and east Shelby County.

The filing deadline for candidates in the August Congressional primaries is Thursday, April 3, at noon.

– Bill Dries

NY Attorney General Sues FedEx Over Cigarettes

The New York state attorney general says FedEx Corp. has cost the state more than $10 million by unlawfully shipping contraband cigarettes to consumers.

Attorney General Eric T. Schneiderman made the allegation Monday. He announced the state has joined a federal lawsuit that New York City officials brought against the high-speed mail carrier in December.

The revised lawsuit in Manhattan federal court alleges FedEx made nearly 33,000 illegal shipments of cigarettes to consumers in New York state between 2006 and 2012.

Schneiderman alleges the deliveries violate a 2006 agreement with the New York attorney general's office in which the company said it would cease all unlawful cigarette deliveries nationwide.

The Memphis, Tenn.-based FedEx says the claims lack legal foundation and it supports efforts to stop illegal cigarette distribution.

– The Associated Press

Redistricting Has Little Effect on Tennessee GOP

While Republican lawmakers in some states may have benefited from congressional redistricting, the changes had little effect in Tennessee.

Republicans were able to give themselves a built-in advantage in House elections by doing well in the statewide elections in many states, then gerrymandering congressional districts in key states after the 2010 census. The strategy may prove to be advantageous going into the 2014 midterm elections and beyond, regardless of the political climate in November.

In Tennessee, for the most part, the redistricting solidified the Republican stronghold. The GOP occupies seven of the nine congressional seats.

"It essentially made the districts ... which were already safe for one party or another to continue to be safe," said Vanderbilt University political science professor Bruce Oppenheimer.

He noted one thing Tennessee Republicans didn't do was divide Nashville among several congressional seats, which was a relief to some Democrats. Democratic U.S. Rep. Jim Cooper, one of two Democrats in Tennessee's nine-member congressional delegation, was among those who spoke out against breaking up the 5th District.

Cooper represents most of Nashville and parts of Cheatham and Wilson counties. If the change had occurred, Cooper would have lost Wilson County, and gained heavily Republican areas in the southern part of Nashville, plus more of Cheatham County and all of Dickson County.

– The Associated Press

Fewer Mississippi Doctors Accepting Medicaid

Fewer than half of Mississippi's primary care doctors are taking new Medicaid patients, Mississippi State University researchers say.

The state has fewer primary care doctors per capita than any other state to begin with – one for every 1,463 citizens, The Clarion-Ledger reported.

Researchers posing as new patients called doctors' offices, reaching 580 of the 678 individual and group practice offices in Mississippi, MSU social science professor Ronald Cossman said.

He says only 47 percent of those identified as core primary care doctors agreed to take new patients insured by Medicaid, while 75 percent agreed to take new patients with private insurance.

He said he had expected a difference, but not one that big.

Inability to find a doctor means people cannot get treatment for their medical problems and wind up in the emergency room, just as they might without any insurance.

"If I've got a Medicaid card, I simply postpone what I've got," he said. "Then I wind up back at the ER, just like I didn't have insurance, but I'm still clogging the ER."

For instance, he said, diabetes is treatable and often preventable. But those who cannot find doctors "can't get care and can't get preventative care. Now a patient winds up in a diabetic coma, and it was totally preventable."

His study was published last month in the Southern Medical Journal, published by the Southern Medical Association.

Cossman estimated that 20 percent to 30 percent of patients that Mississippi primary care doctors see are on Medicare or Medicaid. Red tape and low, slow reimbursement are reasons some don't want Medicaid patients, he said.

– The Associated Press

Arkansas Unemployment Drops to 7.1 Percent

Officials say Arkansas' unemployment rate dipped to 7.1 percent in February.

Arkansas Department of Workforce Services spokeswoman Becky Heflin says the state's unemployment rate has been steadily dropping since last October. Heflin says employment has increased while the number of unemployed people continues to drop.

Arkansas' rate is down from January's rate of 7.3 percent.

Seven major industry sectors showed gains in February with the government sector posting the highest increase. The Department of Workforce Services says the 5,100 jobs added in the government sector primarily came as public schools and universities returned to full capacity after the holiday break.

Employment in the leisure and hospitality sector rose by 900 jobs.

The biggest drop came in the trade, transportation and utilities sector, which saw a decline of 900 jobs.

– The Associated Press

Health Care Website Stumbles on Last Day

The Obama administration says a new technical problem briefly prevented last-minute users from signing up on the government's health insurance website. The new problem came as traffic surged on deadline day.

Health and Human Services spokesman Aaron Albright says technicians identified an issue affecting consumers trying to create new accounts.

As a result, new users couldn't access the system, but the problem was later resolved.

Albright said more than 100,000 people are using the system at the same time.

– The Associated Press

PROPERTY SALES 101 603 9,602
MORTGAGES 92 538 10,616
BUILDING PERMITS 215 1,282 20,958
BANKRUPTCIES 51 408 6,108