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VOL. 133 | NO. 109 | Thursday, May 31, 2018

Daily Digest

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U of M Won’t Charge Tuition For Fallen Soldiers’ Families

The University of Memphis won’t charge the families of fallen soldiers tuition starting this fall.

The U of M is becoming the first higher education institution nationwide to partner with Folds of Honor, a nonprofit that provides scholarships for spouses and children of military members who are severely injured or killed while on active duty.

U of M president M. David Rudd announced the university will accept the Folds of Honor scholarship as payment in full for tuition for all Tennessee residents and others around the country in accordance with capacity beginning this fall.

The national scholarship pays $5,000 annually, and the U of M will use private donations and other support funds to cover the additional tuition cost.

“We would not exist as a country without the service and sacrifice of so many who defend our freedom,” said Rudd, who is also a veteran. “The families are serving as well, and the loss of a parent or spouse presents a huge hardship, emotionally and financially. The University of Memphis is committed to cover any gap that exists and to relieve these families of that burden.

“The hope is that other universities will follow, helping the University of Memphis establish a national consortium committed to recognizing the remarkable contributions and sacrifices of our men and women in uniform.”

The Tennessee Higher Education Commission named the University of Memphis a VETS Campus in 2015, one of 12 institutions in the state to be recognized for its service to student veterans.

Donations to the U of M’s Folds of Honor project scholarship fund can be made at memphis.edu/development, the U of M Foundation’s website.

– Daily News staff

Gregory Realty Grows Industrial Portfolio

Memphis-based Gregory Realty has acquired more than 53,000 square feet of industrial/flex space at 3920 S. Perkins Road and 3900 Perkins Cut Off Road for $1.6 million.

NAI Saig Co. executive vice president Brian Califf represented Gregory Realty in the deal, while Jonathan Aur and Joel Fulmer represented the sellers, Boyle Investment Co. and Apex Property Group.

NAI Saig Co. will handle the leasing of the property moving forward.

Califf said that Gregory Realty has significant capital improvement plans to renovate the spaces and lease the remaining vacancies. At the time of the purchase, the buildings were 60 percent occupied.

“The location of the property is excellent,” Califf said. “It’s just minutes away from Highway 78 and the BNSF Intermodal, and is right in middle of a fast-growing industrial sector of the market. We have flexible space options that can accommodate anywhere from a 1,900-square-foot user to a 12,000-square-foot user with a mix of office and warehouse space at a very attractive rental rate.”

Gregory Realty has been actively growing its commercial portfolio in the last 12 months by acquiring 70,000 square feet of industrial/flex space in Bartlett for $6 million, and 80,000 square feet of office space at 855 Ridge Lake Blvd. for $7 million.

– Patrick Lantrip

Stanton Chase Opens Memphis Office

Executive recruiting company Stanton Chase has opened a Memphis office and hired three new executive consultants as directors in conjunction with the move – Deadrick D. “D.D.” Baker, Roxana Svensson and Ken Nimitz.

“Stanton Chase is the only top 10 global retained executive search firm with a presence in Tennessee,” said Daniel Casteel, managing director of the Nashville office and regional vice president, North America for Stanton Chase. Memphis joins 76 Stanton Chase offices in 45 countries. “With the opening of our new office in Memphis, we are better positioned to partner with our clients to attract the right leadership talent into their organizations that, quite simply, makes all the difference when competing in today’s environment.”

Baker, an executive and business consultant with more than 20 years of experience as an adviser to senior leaders at multiple Fortune 500 companies, specializes in talent management, succession planning, compensation and benefits, employee relations, executive coaching, leadership development and training initiatives. He will focus on the health care, consumer products and services, and financial services industries.

Svensson is an award-winning diversity and inclusion business consultant with more than 20 years of global experience and knowledge of multi-cultural management, lean manufacturing and diversity & inclusion programs. She specializes in developing diversity and inclusion initiatives in the engineering and industrial industries.

Nimitz brings more than 25 years of global experience in operations management, recruiting, training and development. He has developed corporate cultures, teamwork and mentoring in the oil and gas service, IT development, biotech and maritime industries across North America, Southeast Asia, South America, the Middle East and Russia. Nimitz focuses on the natural resources and energy and industrial industries.

– Daily News staff

Air Service Returning To Tunica Airport

Tunica Airport is bringing back regular scheduled air service through a new partnership with Ashley Air and Travel.

Starting July 1, Ashley Air will provide service to four new markets: Atlanta, Georgia; Charlotte, North Carolina; and Orlando and St. Petersburg/Tampa, Florida.

Ashley Air and Travel’s 50 passenger ERJ145 jet aircraft will operate once daily Monday, Wednesday and Friday from Tunica to Atlanta or Tampa/St. Pete, and Sunday, Tuesday and Thursday to Charlotte or Orlando.

“Our partnership with Tunica Airport and Ashley Air and Travel will enhance our area’s tourism industry by opening up our world-class gaming and entertainment product to millions of consumers in these four major markets,” Tunica Airport director Eric Konupka said in a written statement. “The Tunica Airport is an easy drive from anywhere within the Memphis metro area, and our free parking will provide our outbound customers with an economical travel option to these four desirable locations.”

Ashley Air and Travel is offering an introductory $599 annual travel membership, including unlimited travel on all routes served by Ashley Air for $39 each way, plus taxes and fees.

“The demand to visit Tunica is high and we are excited to provide this new and affordable service connecting the traveling public in Atlanta, Charlotte, Orlando and Tampa/St. Pete to all the Tunica destination has to offer,” said Ashley Air and Travel CEO John Ashley.

– Daily News staff

WDIA Fund Donates $9,000 to JA Memphis

The WDIA Goodwill Fund has donated $9,000 to Junior Achievement of Memphis and the Mid-South to support the organization’s financial literacy efforts with school-aged children in Memphis.

The funds will enable elementary students from three inner-city schools to participate in JA BizTown, a simulated town in which children hold jobs, run businesses, get paychecks, manage spending, run for government positions and learn how to participate in a community. Leading up to their JA BizTown visit, the students participate in a multiweek, hands-on curriculum in which they learn about workforce readiness, entrepreneurship and financial literacy.

The donation is part of the WDIA Goodwill Fund’s multiyear commitment to support JA Memphis.

Junior Achievement is a not-for-profit organization financed by businesses, foundations and individuals. Its purpose is to educate and inspire young people to value free enterprise, business and economics to improve the quality of their lives.

– Daily News staff

PROPERTY SALES 76 133 1,342
MORTGAGES 83 131 1,047
BUILDING PERMITS 190 277 3,028