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VOL. 133 | NO. 94 | Thursday, May 10, 2018

Daily Digest

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County Veto Override Vote Canceled

Shelby County commissioners put off a vote Wednesday, May 9, on overriding Mayor Mark Luttrell’s veto of a resolution to renew the appointment of Julian Bolton as the county’s legislative policy adviser.

The resolution commissioners passed in April included amendments that weren’t in the version the commission office sent Luttrell, meaning he vetoed a version that had not passed.

Luttrell and commissioners have clashed repeatedly on the general idea of the commission hiring its own attorney. Bolton, a former county commissioner, is an attorney.

Bolton was first appointed as an adviser in 2016.

Chairwoman Heidi Shafer said the commission will consider a new resolution at its regular Monday meeting that includes the amendments and possibly some new changes to it. If it passes, the commission would then deliver that to Luttrell.

“We want to give him a fair opportunity,” Shafer said of Luttrell and what is referred to as a “scrivener’s error.”

Shafer said the error is an “unusual situation.”

County attorney Kathryn Pascover said the earlier unamended version of the resolution “does not reflect the will of the body as voted on at the time.”

If the commission approves a revised version, Luttrell would then have 10 days to sign the resolution, veto it or allow it to take effect without his signature. If Luttrell were to veto a resolution, the commission would then have 30 days to act on any motion to override the veto. An override would take nine votes on the 13-member body.

– Bill Dries

FedEx Purchases $6B Group Annuity Contract

FedEx Corp. will purchase a group annuity contract and transfer roughly $6 billion of the company’s U.S. pension plan obligations with Metropolitan Life Insurance Co., the Memphis-based company has announced.

The transaction, which is expected to close Thursday, May 10, and is subject to certain closing conditions, will transfer responsibility for pension benefits to Metropolitan Life for approximately 41,000 FedEx retirees and beneficiaries from participating FedEx tax-qualified U.S. domestic pension plans.

This transfer will reduce FedEx’s U.S. pension plan liabilities by about $6 billion, which will be used to fund the group annuity contract.

Following the annuity purchase and transfer, the pension plans will remain well-funded, the company said.

As a result, FedEx expects to recognize a one-time non-cash pension settlement charge that will be included in the fiscal 2018 year-end mark-to-market pension accounting adjustments.

“FedEx is committed to maintaining financially secure pension benefits for our retirees and their beneficiaries,” Alan B. Graf Jr., FedEx’s executive vice president and chief financial officer, said in a release. “This transaction better positions FedEx to manage future pension plan costs, and retirees will receive the same pension benefit from a highly rated insurance company.”

– Patrick Lantrip

Alliance Football to Announce Memphis Coach Thursday

Memphis recently joined Atlanta and Orlando as an entry in the new Alliance of American Football, which will kick off next February and play a 12-week schedule.

While former NFL receiver Hines Ward will be part of the new pro football enterprise as player relations executive and J.K. McKay will be vice president of alliance operations, the league to this point has only two announced coaches: former Florida and South Carolina coach Steve Spurrier will guide the Orlando team and former Minnesota Vikings coach Brad Childress will be coach of the Atlanta club.

The Memphis coach will be announced at a press conference Thursday. Plans call for there to be eight teams competing in the first season.

The league’s founders are TV and film producer Charlie Ebersol and former NFL executive Bill Polian. The league will get underway Feb. 9 with a game televised by CBS.

– Don Wade

‘Brake Czech’ Beer Honors Memphis in May Country

Memphis in May International Festival and Crosstown Brewing Co. are launching a new beer in conjunction with this year’s salute to the Czech Republic.

Brake Czech is a true pilsner brewed in the Czech tradition using authentic Czech hops. The name “Brake Czech” is in keeping with Crosstown Brewing Co.’s automotive-themed labels.

The first tasting will be held at Crosstown Brewing Co. Saturday, May 12, from 4 p.m. to 6 p.m. Representatives from Czech tourism will be on hand to present the history and tradition of Czech beer and introduce the new beer’s limited release. The event is free and open to the public (21 and older).

During May, Brake Czech will be available at Silky O’Sullivan’s and the Peabody Corner Bar.

– Daily News staff

Memphis City FC to Open PDL Season Play Saturday

Memphis City FC has announced its Premier Development League schedule and roster for the 2018 season, with the first match set for Saturday, May 12, at Christian Brothers High School vs. Mississippi Brilla FC.

Memphis City FC will begin play as a Premier Development League franchise in 2018, after it was acquired by USL Memphis in April. Memphis City FC competed the previous two seasons in the National Premier Soccer League.

The PDL features 74 franchises in four conferences throughout the U.S. and Canada, including 18 clubs owned and operated by a professional club, or that hold a partnership with a professional club.

All home matches start at 7 p.m., with gates opening at 6 p.m. Tickets cost $5 and can be purchased at the gate before the match.

The venue for the remaining home matches will be announced at a later date.

The Memphis City FC roster includes seven CBU players and three University of Memphis players.

Memphis City FC is led by head coach Mark Franklin and assistant coach Diego Vieira, with goalkeepers coached by Brett Borm.

Visit usl2memphis.com/pdl for a full schedule of 2018 Memphis City FC games.

– Don Wade

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 133 1,342
MORTGAGES 0 131 1,047
FORECLOSURE NOTICES 0 19 170
BUILDING PERMITS 0 305 3,056
BANKRUPTCIES 20 118 736
BUSINESS LICENSES 27 53 329
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0