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VOL. 131 | NO. 114 | Wednesday, June 8, 2016

Daily Digest

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Kroger Breaking Ground On Arlington Store Wednesday

Kroger Delta Division is set to break ground Wednesday, June 8, on its first Marketplace store in West Tennessee.

The groundbreaking will be held at 9 a.m. in Arlington, at the southeast corner of Milton Wilson Boulevard and Airline Road – the future site of the shops at Arlington Village. The current Kroger store in Arlington is being replaced by the new Marketplace design that features things like expanded grocery areas, home fashion and decor, bed and bath, kitchen and small appliances, apparel and shoes – and Arlington’s first Starbucks.

The groundbreaking for the first Marketplace store in the area comes at a busy time of expansion for the local Kroger division, which has been updating Kroger stores throughout the Memphis area and adding its online ClickList shopping option in select stores, among other things.

– Andy Meek

FedEx Corp. Hikes Dividend 60 Percent

Less than a month after FedEx Corp. closed on its $4.8 billion acquisition of TNT Express, the Memphis-based logistics giant announced a hike in its dividend payout.

FedEx raised its quarterly cash dividend 60 percent to 40 cents a share from 25 cents a share. The dividend is payable July 1 to stockholders of record at the close of business on June 16.

– Madeline Faber

Chamber Seeks Proposals For Mentor-Protege Program

The Greater Memphis Chamber is seeking proposals to develop, implement and administer a mentor-protege program to boost the small-business economy in Memphis and Shelby County.

The mentor-protege program is part of the greater Supplier Diversity Plan that proposes greater incentives for companies contracting with minority- and women-owned businesses and promotes infrastructure to make local firms more accessible.

The goal of the mentor-protege program is to increase the capacity of small businesses to take on larger bids and grow their firms.

Proposals for the mentor-protege program will need to include criteria for participant eligibility, organization structure and progress benchmarks among other elements.

Copies of the written proposal are due to the Greater Memphis Chamber by June 17. The selected company will be notified on or before July 1.

– Madeline Faber

Memphis-Based Banc3 Makes First Acquisition

Memphis-based community bank holding company Banc3 Holdings Inc. has completed its acquisition of The Farmers Bank of Woodland Mills, Tenn.

The company also announced that Clay Billingsley will serve as northwest Tennessee area president for The Farmers Bank.

The Farmers Bank, which was founded in 1910, is a community bank serving individuals and businesses in northwest Tennessee and southwest Kentucky. It has $12 million in assets and serves customers from its office in Woodland Mills.

The Farmers Bank is the first member of the Banc3 Holdings group. The acquisition was approved by the Federal Reserve Bank of St. Louis on May 23.

– Andy Meek

Real Estate Road Show Returns June 16

A primer on Shelby County property tax sales is June 16 at the Memphis Bioworks Foundation auditorium, 20 S. Dudley St., from 2:30 p.m. to 4 p.m., starting with a 2 p.m. sign-in.

The Real Estate Road Show session comes in advance of the three-day online tax sale June 22-24, which is expected to include about 400 properties – residential, commercial and vacant land.

Real estate information company Chandler Reports, which is owned by The Daily News Publishing Co., is a sponsor of the road show.

The road show is an explanation of how the sales work, with representatives from Chancery Court and the Shelby County Trustee’s office present to walk those interested through the steps and the conditions for buying property.

Opening bids include delinquent city and county taxes, accrued interest and penalty charges, court costs, attorney fees, and service and title costs.

The briefing will include an explanation of recent changes in the redemption period for properties.

The online sales began in January through CivicSource.com, and those attending the road show are encouraged to bring laptops or other mobile devices to test the new software.

Register for the road show at reroadshowmemphis.eventbrite.com.

– Bill Dries

Terminix Helping Reduce Mosquitoes at FESJC

Amid growing concerns about the Zika virus, Memphis-based Terminix is using an eco-friendly solution to keep mosquitoes at bay during the FedEx St. Jude Classic this week.

Technicians from the pest-control company have spent the past few weeks spraying the solution on high-traffic areas, including holes 16-18, the clubhouse, practice facilities and the volunteer tent.

The patented Attractive Targeted Sugar Bait is safe for use around people, pets and food, according to Terminix. The solution contains sugar from fruit extracts, which works as a bait, and encapsulated garlic oil, which acts as a gut toxin.

Brian Baldwin, commercial service manager for Terminix in Memphis, said in a statement that the company treated Southwind during last year’s tournament to make it more comfortable for fans and golfers, but because of heightened mosquito concerns, Terminix “doubled down” on its efforts this year.

– Daily News staff

Agricenter Holding Fundraiser June 17

Feast on the Farm, Agricenter International’s annual fundraiser, will be held on Friday, June 17, from 7 to 11 p.m. at ShowPlace Arena, 105 S. Germantown Parkway.

The evening will feature farm-to-table fare from local farmers and area chefs. There will be live entertainment, dancing, and live and silent auctions. All proceeds will support Agricenter’s educational programs, which are offered free to the public. More than 4,000 students are educated at the Agricenter each year about where their food and fiber come from.

Guest chefs for Feast on the Farm include: Brian Thurmond, 148 North; Jeff Dunham, The Grove Grill; Kim Buchanan, LYFE Kitchen; Simpson Hughes, The Butcher Shop; Michael Francis, Heart and Soul; Logan Guleff, champion of MasterChef Junior; Michelle Campbell, Fork It Over; Allen Cain, Lone Oaks Farm; Elizabeth Blondis, Central BBQ; Babalu: Tacos & Tapas; Danial Johnson, Tart Memphis; and Ted Perkins, Paradise Seafood.

Tickets, which can be purchased at

agricenter.org/feast, are $100 until June 13, then the price goes up to $150. A portion of each ticket is tax deductible.

– Don Wade

Tenn. Black Caucus to Hold Criminal Justice Forums

The Tennessee Black Caucus of State Legislators will hold forums at churches in Nashville and Memphis to discuss criminal justice reform.

In a press release, the organization said it was able to recently pass legislation that opens the door for broader changes in the system. New laws make it easier for some people to get their criminal histories wiped off their record. Another piece of legislation bars the state from asking job applicants about their criminal history early in the interview process.

The first meeting will be held in Nashville June 12 from 3 p.m. to 6 p.m. at the Mt. Zion Baptist Church on Jefferson Street. The Memphis forum will be held July 10 from 3 p.m. to 6 p.m. at First Baptist Church-Broad, 2835 Broad Ave.

– The Associated Press

Federal Government to Help Cotton Producers With Costs

Federal officials have announced that cotton producers across the country will receive an estimated $300 million as part of a cotton ginning cost-share program.

Agriculture Secretary Tom Vilsack said in a news release Monday that the U.S. Department of Agriculture Farm Service Agency will provide about 60 percent more assistance to each farm than the 2014 cost-share program did.

Cotton producers have from June 20 through Aug. 5 to sign up at a Farm Service Agency office to receive the one-time payment. Payments will be based on a producer’s reported 2015 cotton acres and will be limited to a $40,000 maximum per producer.

Officials say cotton growers have faced economic pressure since 2011 because of low cotton prices and global oversupply.

– The Associated Press

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 64 87 1,429
MORTGAGES 39 60 1,107
FORECLOSURE NOTICES 7 13 203
BUILDING PERMITS 92 209 3,265
BANKRUPTCIES 42 84 837
BUSINESS LICENSES 21 23 352
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0