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VOL. 130 | NO. 190 | Wednesday, September 30, 2015

Daily Digest

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Commercial Real Estate Veteran Joins Butler Snow as Principal

A former Highwoods Properties Inc. executive has joined the Memphis office of Butler Snow Advisory Services.

Michael E. Harris has joined BSA as principal and brings more than 40 years of corporate leadership and business experience to the company, which is a subsidiary of Butler Snow law firm.

Harris most recently was executive vice president and COO of Highwoods, a Raleigh, N.C.-based real estate investment trust. He retired from the commercial real estate firm in August after 19 years and moved back to Memphis.

Prior to his Highwoods career, Harris was executive vice president of Crocker Realty Trust.

BSA has offices in Birmingham, Ala.; Jackson, Miss.; Memphis and Nashville. It offers advisory services to businesses in a variety of areas, including succession planning, product diversification, sales and marketing strategies and operational and financial management.

– Daily News staff

Grizzlies Set Roster for Training Camp

The Memphis Grizzlies training camp roster stands at 20 after the team signed five free agents: Yakhouba Diawara, Ryan Hollins, Michael Holyfield, Lazeric Jones and Daniel Nwaelele.

With a veteran team returning, all five players are long shots to make the Grizzlies’ regular season roster. Still, at the team’s annual media day on Monday, Sept. 28, coach Dave Joerger said he was eager to see all five players play and added that injuries could always create an unexpected opportunity for one or more of the free agents.

The Grizzlies were set to begin training camp with an afternoon practice on Tuesday, Sept. 29, in Santa Barbara, Calif.

The Grizzlies’ first preseason game is Tuesday, Oct. 6, vs. Oklahoma City at FedExForum. The season opener, vs. the Cleveland Cavaliers, is Oct. 28 at FedExForum.

– Don Wade

Alleged Gang Members Face Federal Racketeering Charges

Six alleged members of the Gangster Disciples street gang have been charged with attempted murder to aid racketeering, federal prosecutors announced Monday, Sept. 28, as they unsealed the indictments returned Sept. 24 in Memphis federal court.

The alleged gang members are charged in the June 21, 2014, attack that critically injured five teenagers at the Hillview Park Apartments, 2119 E. Alcy Road. The teenagers, who are referred to only by their initials in the indictment, were shot and wounded as a car drove into the complex, stopped, several people got out and opened fire.

At the time, police said they believed it was an escalation of an ongoing dispute with someone in the apartment complex.

The federal grand jury indictment returned last week accuses Robert Mallory, Ranito Allen, Florence Anthony, Edwin Carvin, Brandon Milton and Erik Reese all worked with each other in the attack “for the purpose of gaining entrance to and maintaining and increasing position in the Gangster Disciples, an enterprise engaged in racketeering activity.”

All six are also accused of firearms violations, specifically for using and carrying a gun in a crime of violence. In addition, Mallory, Allen and Carvin are charged with being felons in possession of firearms.

The grand jury also indicted Candies Wesley for being an accessory after the fact for allegedly helping the others “in order to hinder and prevent the apprehension, trial and punishment of the defendants.”

The new charges replaces an original federal indictment that charged only Mallory in the attack.

– Bill Dries

Orpheum Taps Halloran’s Successor

Brett Batterson is the new president and CEO of the Memphis Development Foundation, which operates the Orpheum Theatre and Halloran Centre for Performing Arts & Education.

He succeeds Pat Halloran, who’s retiring at the end of this year after 35 years in the position.

Batterson joins the Orpheum from the Auditorium Theatre of Roosevelt University in Chicago. Prior to his work in Chicago, Batterson served for 10 years as chief operating officer for the Michigan Opera Theatre and also has experience as a theatrical designer.

– Andy Meek

Memphis Made Expands Taproom Hours to Sunday

Memphis Made Brewing will now open its taproom on Sundays.

Starting this weekend, the Cooper-Young brewery, 768 S. Cooper St., will be open Fridays from 4 p.m. to 9 p.m.; Saturdays 1 p.m. to 9 p.m.; and Sundays 1 p.m. to 6 p.m.

Co-owner Andy Ashby said that the expanded hours reflect demand.

“We think it’ll be a good place for people to stop by after having brunch in Cooper-Young and Overton Square, or just for those who don’t want the weekend to end so soon,” he said in a statement. “This will also give restaurant people who work on Fridays and Saturdays a chance to visit our place.”

– Madeline Faber

FDIC Report: Little Change in Local Banking Market

The landscape of the Memphis-area banking market hasn’t changed much since last year, according to a newly released yearly report from the Federal Deposit Insurance Corp.

The FDIC’s reporting that presents a ranking of banks based in the Memphis area by their percentage of the market’s customer deposit share shows the same three banks at the top this year compared to last year: First Tennessee, Regions and SunTrust. The ranking is current through June 30 of this year, so it doesn’t reflect the latest market realities and is instead a snapshot of a moment in time.

First Tennessee grew its customer deposit share over last year to within a percentage point of having 30 percent of the Memphis area’s roughly $27 billion in customer deposits. That growth equated to First Tennessee having $6.1 billion in Memphis-area customer deposits last year compared with a little more than $8 billion this year.

Regions Bank, meanwhile, has 16 percent, down from 18.2 percent last year, while SunTrust has 10 percent, up from 8.7 percent last year. The rest of the area’s banks all have single-digit percentages of the market’s customer deposits.

First Tennessee, Regions and SunTrust all shed Memphis-area offices over the past year, according to the FDIC report. First Tennessee went from 43 to 39; Regions went from 54 to 51; and SunTrust went from 32 to 30.

– Andy Meek

GTx Enrolls First Patient in Enobosarm Clinical Trial

Memphis-based GTx Inc. has enrolled its first patient in the company’s phase 2 clinical trial of enobosarm, the company’s lead product candidate used to treat women with certain types of breast cancer.

The open-label, multi-center, multinational trial will assess the efficacy and safety of orally administered enobosarm in up to 88 evaluable patients with certain types of breast cancer.

The lead investigator for the trial is Dr. Beth Overmoyer from the Dana Farber Cancer Institute and Harvard Medical School.

– Andy Meek

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 61 331 19,904
MORTGAGES 80 391 23,305
FORECLOSURE NOTICES 0 83 8,387
BUILDING PERMITS 0 338 40,366
BANKRUPTCIES 35 231 13,335
BUSINESS LICENSES 28 76 6,213
UTILITY CONNECTIONS 0 125 13,120
MARRIAGE LICENSES 21 94 4,936

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