VOL. 129 | NO. 209 | Monday, October 27, 2014
Sears Secures $7.3 Million Loan on East Memphis Store
The parent company of Sears has taken out a $7.3 million loan on the store at 4570 Poplar Ave. in East Memphis, part of a broader effort to pump hundreds of millions into the struggling retailer.
Sears Roebuck and Co. secured the $7.3 million loan on the property from JPP II LLC, which is affiliated with ESL Investments Inc., according to an Oct. 22 deed of trust.
ESL Investments is fully-owned by Sears chairman and CEO Edward S. Lampert, who is providing the cash infusion.
In September, Sears tapped two entities affiliated with ESL for a short-term loan of $400 million. The loan was collateralized by 25 Sears stores, including the one in East Memphis.
Source: The Daily News Online & Chandler Reports
– Amos Maki
Grizz Development Team to Play at FedExForum
The Memphis Grizzlies’ NBA Development League affiliate, the Iowa Energy, will play the Miami Heat’s affiliate, the Sioux Falls Skyforce, at 5 p.m. on Saturday, Nov. 8, at FedExForum. Doors open at 4 p.m.
General admission Plaza Level tickets for the game start at $10, while floor seats are available for $25 (plus applicable fees), and went on sale Friday, Oct. 24.
Immediately following the Energy vs. Skyforce game, fans are encouraged to stay for a Grizzlies Watch Party at FedExForum and cheer on the Grizzlies as they take on the Milwaukee Bucks at 7:30 p.m. at the HMO Bradley Center in Milwaukee. The game will be broadcast on SportSouth, featuring the call by Grizzlies play-by-play broadcaster Pete Pranica and analyst Brevin Knight, and shown live on Grizz Vision.
Admission for the Grizzlies Watch Party is free and begins at 7 p.m. for fans unable to attend the Energy vs. Skyforce contest.
– Don Wade
Early Voting Tops 30,000 in Advance of Nov. 4 Election
Early voting in advance of the Nov. 4 election day in Shelby County topped 30,000 as of Thursday, Oct. 24, going into the last week of the early voting period.
The total of 30,748 includes 5,125 early voters just on Thursday at the 21 sites across Shelby County.
By early voting site, the most popular of the 21 locations is New Bethel Baptist Church in Germantown with 3,479 early voters through Thursday, followed by Collierville Church of Christ and Bethel Church in Bartlett.
Early voting continues through Oct. 30 and citizens can vote at any of the 21 sites regardless of where they live.
– Bill Dries
Memphis Signage Book Now Available
“Memphis Type History,” a book collecting images and photos of interesting and iconic Memphis signs, is on sale now.
The book includes illustrations from painter Rebecca Phillips who re-created many signs from around the city, including those of landmarks like the Arcade Restaurant, the Lorraine Motel and the Lamar Theater, among others.
Stories have been contributed by people who shared memories that accompany the artwork and photos in the book. Pre-orders are being taken for it now through Nov. 3 on the Memphis Type website, at www.memphistypehistory.com/book, and they include bonuses like extra samples of Phillips’ work.
– Andy Meek
Halloween Festivities Part of Tigers Football
The University of Memphis athletics department is hosting activities for trick-or-treaters of all ages prior to the Tigers’ Homecoming game vs. Tulsa Friday, Oct. 31.
Memphis is promoting trick-or-treating on Tiger Lane from 5 p.m. to 6:30 p.m., a concert with rocker Bret Michaels at 5 p.m., a costume contest with Pouncer at 6 p.m. and a pre-game pep rally at 6:15 p.m.
The Tigers’ kickoff against the Golden Hurricane is slated for 7 p.m. and will be carried nationally by ESPN2 or ESPNU. All pregame activities are free and open to the public. Advanced tickets for the football game start at $10 at gotigersgotix.com.
“We want Tiger Lane and Liberty Bowl Memorial Stadium to be a destination for the entire community on Halloween night,” said Director of Athletics Tom Bowen. “This is a continuation of our investment in the gameday experience for our fans.”
The first 1,000 trick-or-treaters to check in at the marketing booth located in front of the fountain will receive a Tigers Halloween bag and glow stick.
Trick-or-treaters are also invited to participate in a costume contest in front of the Tiger Lane fountain at 6 p.m. The costume contest will be judged by Pouncer and Memphis Spirit Squads with prizes for first, second and third place.
Fans will be permitted to wear costumes inside the Liberty Bowl for the game, but will be asked to remove masks when entering the stadium or walking the concourse.
– Don Wade
Maine Independent King Endorses Sen. Alexander
Independent U.S. Sen. Angus King of Maine says he is endorsing Republican incumbent Lamar Alexander in Tennessee’s Senate race, but is still awaiting the results of elections nationwide before deciding which party to caucus with.
King joined Alexander at Lipscomb University in Nashville on Friday for a discussion about efforts to simplify federal student loan applications.
King, who earlier endorsed Republican Sen. Susan Collins of Maine and Democratic Sen. Jeanne Shaheen of New Hampshire, told reporters afterward that he is supporting Alexander because he considers him a problem solver in a dysfunctional Senate.
Republicans need to pick up six seats to gain a Senate majority.
Alexander, a former Tennessee governor and presidential candidate, is seeking a third Senate term. He is being challenged by Democrat Gordon Ball, a Knoxville attorney.
– The Associated Press
UPS Expects Double-Digit Surge in December Shipments
UPS is expecting an 11 percent jump in December shipments as the holiday shopping season heats up.
The company recently said it is hiring up to 95,000 people to handle the tremendous volume this year, way up from the 55,000 seasonal workers it hired in 2013.
Major U.S. shipping companies were caught off guard last year after an increasing number of Americans bought gifts online and shipped them last minute.
Membership for Amazon.com spiked in the weeks before the holidays because of its free-shipping benefits, and traditional retailers who saw their sales take a hit followed suit with their own free-shipping programs.
UPS was forced to hire an additional 30,000 people just to keep up, but it was too late and some deliveries did not make it until after Christmas.
UPS is doing everything it can to stay ahead of the rush this year, and Chief Financial Officer Kurt Kuehn said Friday that the company is confident that it will operate at the highest level.
UPS also reported third-quarter earnings of $1.32 per share on revenue of $14.29 billion. That exceeded the expectations of analysts surveyed by Zacks Investment Research, who predicted earnings of $1.28 per share on revenue of $14.2 billion.
UPS delivered 1.1 billion packages worldwide in the quarter, a 6.9 percent increase from the prior-year period.
– The Associated Press
Evenflo Recalls Infant Seats to Fix Sticky Buckles
Evenflo is recalling more than 202,000 rear-facing infant seats because the buckles can become difficult to unlatch.
The recall affects Embrace 35/9999 models with an AmSafe QT1 buckle. Documents posted by U.S. safety regulators say that if the buckles don’t release easily, it may be difficult to get a child out of the seat in an emergency.
The recall comes after an investigation by the National Highway Traffic Safety Administration.
Not all Embrace 35 models are covered by the recall. For others, the company will provide replacement buckles if requested by customers.
Affected model numbers include 30711365, 31511040, 31511323, 31511400, 3151198, 3151953, 31521138, 46811205, 46811237, 48111200, 48111215, 48111215A, 48111218, 48111234, 48111235, 48111235A, 48111462, 48411391, 48411391D, 48411392, 48411504, 48411504D, 52911307A, 52921040, 55311138, 55311238, and 55311292. The seats were made at various times from December 2011 through May of 2013.
Owners with questions can call Evenflo at 800-490-7591.
– The Associated Press