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VOL. 132 | NO. 89 | Thursday, May 4, 2017

Daily Digest

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FedEx Awarded $2.35 Billion Defense Delivery Contract

The Department of Defense’s United States Transportation Command has awarded a government-wide package delivery services contract valued at more than $2.35 billion to Memphis-based FedEx Corp.

The government-wide Next Generation Delivery Services contract awarded April 26 is a best-in-class contract for domestic and international express small-package delivery services, and domestic ground small-package delivery services. The contract will begin Oct. 1, according to a DoD release.

Services outlined in FedEx’s contract include time-definite, door-to-door pickup and delivery; transportation; timely and accurate in-transit visibility; and customs clearance processing. The contract also may include shipments of foreign military sales.

Lousville, Kentucky-based United Parcel Service Co. was awarded a similar five-year contract for roughly the same amount as FedEx, while Polar Air Cargo of Purchase, New York, a primary subcontractor for DHL, received a five-year contract valued at $199 million.

The contract represents the federal government’s acquisition approach to consolidate federal package-delivery contracts into one government-wide contract under the purview of the DoD’s U.S. Transportation Command, a specialized buyer of global transportation services, according to the DoD release.

The Next Generation Delivery Services approach marks a fundamental change in acquiring package delivery services, according to the DoD, with the primary goals of leveraging the federal government’s buying power, reducing the number of contract vehicles and strengthening demand management practices.

– Daily News staff

Memphis Management Firm Buys Midtown Retail Center

Absolute Storage Management has purchased a Midtown retail center for a little more than $1 million.

The Memphis-based firm, working under the name ASM Storage Partnership, purchased the building at 376 N. Cleveland St. from Overton Park Commons LLC, according to an April 24 warranty deed filed with the Shelby County Register of Deeds.

A $660,000 mortgage though First Bank was filed in conjunction with the purchase. Michael J. Haugh, president and CEO of Absolute Storage, signed the trust deed on its behalf.

The 7,293-square-foot community shopping center was built in 2006 and sits on a little more than 1 acre near the intersection of Cleveland Street and Overton Park Avenue. The Shelby County Assessor of Property’s 2017 appraisal is $729,300.

An ACE Cash Express and Jackson Hewitt Tax Services are currently located in the center.

Overton Park Commons LLC had purchased the property from UT Medical Group for $155,000 in 2005.

Haugh founded Absolute Storage in 2002, and the company has grown to include 90 properties totaling more than 5 million square feet, according to the company’s website.

Though headquartered in Memphis, the storage management company also operates offices in Nashville; Atlanta, Georgia; Jackson, Mississippi; and Charlotte, North Carolina.

Absolute Storage acquired the property where Snapbox Self-Storage is located at 1486 Madison Ave. for $5.5 million in December.

– Patrick Lantrip

Hernando Mayor Johnson Upset in Republican Primary

Southaven Mayor Darren Musselwhite and Horn Lake Mayor Allen Latimer won Republican primary re-election bids in local elections across Mississippi Tuesday, May 4, and won re-election to new terms of office by virtue of being unopposed in the June local general elections.

Meanwhile, Hernando Mayor Chip Johnson lost a re-election bid in that city’s Republican primary to challenger Tom Ferguson Jr., who is running unopposed in the Hernando general elections.

Olive Branch Mayor Scott Phillips ran unopposed in Tuesday’s local primaries and has no opposition in June either.

In the nonpartisan elections in Walls, Mississippi, Mayor Patti Denison is running unopposed on the June ballot.

– Bill Dries

First Horizon Honored By American Heart Association

The parent company of First Tennessee Bank has been awarded gold-level status as a Fit-Friendly Worksite by the American Heart Association for committing to the health and wellness of its employees.

The annual designation is awarded by the AHA’s My Heart, My Life initiative, which promotes positive change in American workplaces.

First Horizon was honored for championing the health of its employees by promoting physical activity and emphasizing wellness.

First Horizon’s corporate wellness program provides health and fitness challenges for employees and offers incentives such as gift cards for participation.

Each year, the company hosts annual health fairs, immunizations and health screenings, and sponsors a variety of wellness events for employees and their families.

– Andy Meek

St. Jude Seeking ‘Heroes’ For 2017 Marathon

St. Jude Children’s Research Hospital is calling on supporters to lace up their running shoes and register as a St. Jude Hero for the 16th St. Jude Memphis Marathon Weekend.

Participants who fundraise for the hospital are called St. Jude Heroes because they “Run for a Reason” – to help ensure families never receive a bill from St. Jude for treatment, travel, housing or food.

Runners who register as St. Jude Heroes and commit to raise a minimum of $500 are able to sign up for any of the races – including the full and half marathon, the 10K and the 5K – during the VIP registration period, which ends May 31. Visit stjude.org/marathon2017 for more information.

“Funds raised by our St. Jude Heroes are critical in enabling St. Jude to find cures for some of the most aggressive childhood cancers and life-threatening diseases,” said Richard Shadyac Jr., president and CEO of ALSAC, the fundraising and awareness organization for St. Jude Children’s Research Hospital.

The St. Jude Memphis Marathon Weekend presented by Juice Plus+ is a collaborative effort between ALSAC/St. Jude Children’s Research Hospital and the Memphis Runners Track Club to help children battling cancer and other life-threatening diseases.

Last year, the marathon weekend raised more than $10 million, and this year’s event is expected to attract more than 25,000 participants.

– Don Wade

PROPERTY SALES 61 61 6,453
MORTGAGES 46 46 4,081
BUILDING PERMITS 113 113 15,474
BANKRUPTCIES 19 19 3,289