Special Emphasis: Financial Services

Transcription

November 9-15, 2012, Vol. 5, Issue 46
Special Emphasis:
Financial Services
Banks and financial institutions navigate a new
economy by tightening their belts and focusing
on customer service, mobile banking and other
methods of bolstering their bottom lines
PAGE 18
Shelby
•
Fayette
•
Tipton
•
Madison
‘Let’s
Do This’
Robert Pera takes over
as chairman of
Memphis Grizzlies
PAGE 16
The Grizzlies introduce new
chairman Robert Pera at
a press conference. Pera,
founder and CEO of
Ubiquiti Networks, is
controlling owner of the
franchise.
Photo: Lance Murphey
10 Community
The Tennessee Wildlife Federation’s Great Outdoors University program is fulfilling its goal to
connect inner-city children with nature in meaningful, life-changing ways. The youth conservation
education and outdoor experience program recently surpassed the 12,000 meaningful experiences
milestone and now prepares to expand.
weekly digest: page 2
logistics: page 26
law talk: page 28
newsmakers: page 31
EDITORIAL: page 38
A Publication of The Daily News Publishing Co. | www.thememphisnews.com
www.thememphisnews.com
2 November 9-15, 2012
weekly digest
Get news daily from The Daily News, www.memphisdailynews.com.
Whalum Election Dispute
Moves Forward
Kelsey Files Amendment
To Ban Income Tax
Two days after the Nov. 6 Election Day,
attorneys in the lawsuit disputing results in
one of the Aug. 2 school board races were
back in Shelby County Chancery Court.
Depositions are still to come in the
challenge by countywide school board
member Kenneth Whalum Jr. of his 108vote loss to fellow school board member
Kevin Woods in the certified results from
the District 4 school board race in August.
Whalum is suing the Shelby County
Election Commission. Woods is an intervening party in the court action. Neither
was in court Thursday, Nov. 8, for the brief
hearing.
Chancellor Kenny Armstrong has not
set a trial date, but all sides discussed
a possible trial date sometime in midDecember.
The Shelby County Election Commission has identified 837 disputed votes
in the race. That number includes 370
voters who live outside the district but
were allowed to vote in the race. There are
another 186 voters who also lived outside
the district and had the District 4 race on
their ballots, but it isn’t known if they voted
in that race.
Attorneys on all sides said the central
issue will likely be a third group of 281
voters who live in District 4 but who voted
in other district school board races that
appeared on their ballots.
Republican state Sen. Brian Kelsey of
Germantown has filed a state constitutional amendment that would ban a state
income tax in Tennessee.
The proposed amendment to the Tennessee Constitution was approved in the
House and Senate last year by two-thirds
votes in each chamber.
If it passes again in each chamber
with a similar majority, it would go on the
November 2014 statewide ballot for a ratification vote. Kelsey has also filed a similar
second resolution that would amend the
Tennessee Constitution to change the way
state appellate court judges are selected.
Under Kelsey’s proposal, the Tennessee
governor would appoint those judges still.
But their appointment would go to the
legislature for confirmation.
Currently the governor appoints the
appellate court judges from a list of three
finalists sent to the governor by an appointed selection committee.
Achievement School District
Weighs 10 Additions
The state-run Achievement School
District will add 10 more Memphis schools
in the 2013-2014 school year, the first year
of the schools merger in Shelby County.
The 10 schools to be run under state
control or with charter school operators
selected by the state will be announced
Dec. 17. That’s also when leaders of the
district will announce which schools they
will run directly and which ones will be
operated by charters.
This week, faculty and staff at 14
schools were notified of the possibility their schools will become part of the
district. In order to be part of the Achievement School District, a school must be
in the bottom 5 percent of schools in the
state in terms of student achievement test
scores.
Teachers, principals and all other staff
at ASD schools have to reapply for their
jobs at schools that become part of the
district. The district is headed by superintendent Chris Barbic, who was appointed
by and answers to Tennessee Gov. Bill
Haslam.
The 14 schools under consideration
are: Corry, Cypress and Georgian Hills
middle schools, and Cherokee, Graves,
Alcy-Ball, Hanley, Shannon, Whitney, Denver, Caldwell-Guthrie, Treadwell, Klondike
and Norris elementary schools.
No high schools are on the list in keeping with Barbic’s belief that the first years
should focus on low performing elementary and middle schools that feed into high
schools.
The Achievement School District
began operating schools in Memphis
this school year at Frayser and Corning
elementary schools and Westside Middle
School. All three are feeder schools into
Frayser High School.
The Achievement School District contracted with charter schools for the phasein over several years of charters at Gordon
Elementary School and Lester Elementary
School that began this past fall.
KIPP Academy, another charter school
operator, has already taken the fifth grade
at Cypress Middle School and its role is
expected to be expanded at Cypress in the
next school year.
Companies Honored By
American Heart Association
Sixteen Memphis-area businesses have
been recognized by the American Heart
Association’s Fit-Friendly Companies Program for promoting physical activity and
health in the workplace.
Fit-Friendly Companies Program
participants encourage such things as
physical activity and healthy eating in a
number of ways, including through such
enhancements as on-site walking routes
and healthy food options in cafeterias and
vending machines. And companies can
apply in two program categories, which
have different criteria to meet.
Local businesses recognized as Platinum Fit-Friendly Companies include Baptist Memorial Hospital-Memphis, Methodist Le Bonheur Healthcare and Ring Cos.
Companies that received the pro-
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November 9-15, 2012 3
gram’s Gold designation include BlueCross
BlueShield of Tennessee, the city of
Germantown, the city of Memphis, The
Church Health Center, First Horizon
National Corp., General Electric Advanced
Services Inc., Memphis Light, Gas and
Water Division, Methodist Fayette Hospital, Mid-South Pulmonary Specialists,
Pinnacle Airlines Corp., Saint Francis
Hospital-Memphis and Saint Francis
Hospital-Bartlett, and University of Tennessee Health Science Center.
BlueCross BlueShield of Tennessee was
also recognized in two optional categories.
It received the Worksite Innovation Award
and the Community Innovation Award.
Memphis Chamber Receives
Communication Awards
The Greater Memphis Chamber’s
Communications & Programming Team
is a recipient of both platinum and gold
MarCom Awards.
They received awards for the Chamber’s website (platinum), for the Chamber
Beat Weekly e-newsletter (gold), and for
Memphis Crossroads Magazine: Young
Memphis 2012 (gold).
MarCom is an international competition administered and judged by the Association of Marketing and Communication
Professionals. Winners range in size from
individual communicators to media conglomerates and Fortune 500 companies.
This year’s MarCom competition drew
more than 6,000 international entries. Of
those, only 18 percent were awarded at
platinum level and gold level.
The Greater Memphis Chamber is
the lead economic development agency
for Memphis and Shelby County, and is
a private, nonprofit, membership-driven
organization comprised of 2,300 business
enterprises, civic organizations, educational institutions and individuals.
Monica, Calif.-based Hertz Investment
Group LLC bought Toyota Center in April
as part of a $147.5 million, 15-property
portfolio sale from Parkway Properties Inc.
Meanwhile, the CCRFC will also vote
on a request for refinancing the Peabody
Hotel Tract at Union Avenue and Second
Street for Hotel Peabody GP with Wells
Fargo Bank NA.
The CCRFC meets Tuesday at 9 a.m. at
The Crump Building, 114 N. Main St.
Revenue Finance Corp.
To Consider Tax Breaks
Madison Hotel Lands
On Top 40 Hotels List
The Downtown Memphis Commission’s Center City Revenue Finance Corp.
(CCRFC) has a full agenda for its Tuesday,
Nov. 13, board meeting, with leasing and
financing requests for Brinkley Plaza,
Toyota Plaza and the Peabody Hotel Tract.
The CCRFC will consider assigning a
payment-in-lieu-of-taxes (PILOT) lease
agreement dated Dec. 31, 1984, to Olymbec USA LLC for Brinkley Plaza, 80 Monroe
Ave. Montreal-based Olymbec bought the
219,557-square-foot, 10-story tower in October for $7.2 million from Sanderlin Place
and Brinkley Plaza II Partnership, entities
related to CB Richard Ellis Memphis and
Loeb Properties Inc.
In addition, the CCRFC will vote on
a request for Hertz Memphis Tree LLC to
refinance 175 Toyota Plaza, located at 185
Monroe Ave., with Magna Bank. Santa
Downtown Memphis’ Madison Hotel
has been ranked No. 24 on Condé Nast
Traveler’s 25th annual Readers’ Choice
Awards Top 40 Hotels in the South list.
The Madison, 79 Madison Ave., is the only
hotel in Memphis to receive the honor.
More than 46,000 Condé Nast Traveler readers voted for and elected 1,306
properties and places around the world,
with nearly half being in the U.S. Award
categories were broken down among
cities, islands, hotels, resorts, cruises and
airlines.
Each candidate is rated by criteria on a
five-point scale ranging from excellent to
poor and is averaged to calculate the final
score. The Madison Hotel garnered a high
score of 88.2 for rooms, service, food, location and design.
Opened in 2002, the Madison Hotel
weekly digest
boasts 110 guest rooms and a rooftop
lounge. It has also been selected by Condé
Nast Traveler readers as one of the top 75
Hotels in the U.S. and by Travel & Leisure
readers as one of the Top 500 Hotels of
the World. The Madison is an AAA Four
Diamond award recipient and an affiliate
property in the WORLDHOTELS Deluxe
Collection.
City Council Approves
Harahan Bridge Funding
Memphis City Council members
approved $45,000 in architecture and
engineering funding for the Harahan
Bridge Boardwalk project Tuesday, Nov. 6,
in a session that saw several other major
agenda items delayed.
The $45,000 covers some of the cost
of planning preparations for the bicycle
and pedestrian boardwalk to date. The
boardwalk is part of a larger $30 million
project that includes renovations of Main
Street in Memphis and Broadway Street in
West Memphis with the boardwalk being
the connection to the two thoroughfares
across the Mississippi River. Half of the
cost is covered by federal funding with
local government and private funding to
cover the other half.
The council delayed to Dec. 4 any
action on a resolution that would send a
Vance Avenue renovation plan to the Land
Use Control Board that specifically calls for
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4 November 9-15, 2012
weekly digest
keeping the Foote Homes public housing
development. The resolution would be an
endorsement of the plan by the Vance Avenue Collaborative, which differs from the
long-term plan the city administration has
to demolish the last large public housing
project left in Memphis.
The council also delayed to Dec. 4 a
vote on the future of the Whitehaven golf
course as well as a fee increase for city golf
course users who don’t live in Memphis
and a golf cart rental fee increase. The
council voted in the spring budget season
to close the golf course for good in December. The plan now is for the golf course to
close for the winter in December pending
council action.
Busier Airports, Full Planes
Seen on Thanksgiving
The recipe for Thanksgiving travel is
likely to make travelers a little bitter this
year.
Americans can expect airports to be
busier and planes to be fuller than ever,
according to a forecast by the main trade
association for U.S. airlines two weeks
ahead of the holiday. And fares are already
more expensive.
Airlines for America expects nearly 24
million travelers to fly from Friday, Nov.
16, through Tuesday, Nov. 27. That’s up
narrowly from a year earlier. Last year’s
tally was flat from 2010. But traffic on the
nation’s airlines is still 10 percent below the
peak travel years of 2006 and 2007.
For those traveling on the busiest days
around Thanksgiving, planes are expected
to be close to 90 percent full, the trade
group says. That would be a record for the
holiday. Sunday, Nov. 25, is projected as the
busiest travel day, followed by Wednesday,
Nov. 21, and Monday, Nov. 26.
Flights will be packed tighter because
there are fewer of them. Airlines have been
reducing flights to better match demand,
which in turn allows them to raise prices.
So far this year domestic ticket prices are
up 4 percent from 2011, according to the
group.
Cutting flights also allows airlines to
save on fuel, often their biggest expense.
Collectively, U.S. airlines’ revenue rose
5.6 percent in the first nine months of this
year. But fuel costs rose by 6.2 percent,
cutting the amount of money earned per
passenger. On average, the ten largest
U.S. airlines made just 50 cents for every
passenger they flew from January through
September, Airlines for America said.
Memphis Companies Picked
For Business Program
The Initiative for a Competitive Inner City, Bank of America Corp., Fortune
magazine and the U.S. Small Business Administration have selected two Memphisarea companies for their annual Inner City
Trading Spaces
Capital Connections program.
The companies are AVPOL International LLC and Worldwide Label & Packaging.
The ICCC program identifies inner-city
businesses in need of growth capital, educates them on the sources of capital, and
matches them with capital providers in
order to grow their businesses. To qualify, a
business must be located in the inner city
(defined as an area of concentrated economic distress) or have a disproportionate
percentage of its employees living in such
an area. In addition, a company must have
$2 million in revenue.
City Council Considers
Sales Tax Recall Options
As voters in Memphis and unincorporated Shelby County were voting on a
countywide sales tax increase Tuesday,
Nov. 6, Memphis City Council members
were pondering how to recall the sales tax
hike should it pass.
Memphis Mayor A C Wharton Jr. requested a legal opinion from the city attorney’s office about the time that he changed
from an opponent to a proponent of the
tax hike. His question to city attorneys was
what the method would be for recalling
such a tax hike should half of the revenue
go for education but not specifically for an
expansion of pre-kindergarten programs
in Shelby County.
A sales tax recall would take a resolution from the Shelby County Commission
to put the recall question on the ballot for
the same group of voters in an upcoming
election. Or a group of citizens could petition to have the recall question put on the
ballot.
Council member Jim Strickland said
the question was worth examining because he believed some voters were going
to the polls believing the tax hike would
specifically be used to fund pre-kindergarten programs when no such specific commitment had been made by those backing
the sales tax hike.
Metropolitan Bank Expands
With Nashville Headquarters
Metropolitan Bank is moving forward
with a major expansion as the company
prepares to start renovations on its new
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Nashville headquarters at 1701 West End
Ave. in the Midtown/Vanderbilt area.
The bank is serving clients from its
Brentwood office, which will remain open,
while the West End location becomes
its new Middle Tennessee headquarters.
Renovations for that new office will begin
within 60 days, with an expected opening
in late first quarter 2013.
The new location will house commercial, private client and mortgage banking
teams, along with the office of Bill Menkel,
Metropolitan’s Nashville president.
New Malco Theatre
Coming to Olive Branch
Memphis-based Malco Theatres is
building a new 12-screen theater in Olive
Branch.
The movie chain completed initial
site work several years ago but decided to
shelve the development when the recession hit. The company announced this
week it’s resumed construction on the
project with plans for completion by the
middle of next year.
Elsewhere, Malco also is set to resume
cinema projects in Louisiana and Arkansas that also were put on hold. And Malco
– which recently finished renovations at
its Ridgeway 4 cinema, to include plush
new chairs and higher quality concessions, among other things – will complete
a renovation of the Forest Hill Cinema in
Germantown by the end of this month.
MAA’s Net Income
Rises in Third Quarter
Memphis-based MAA reported a third
quarter net income of $30.9 million, as
compared to $13.8 million for the quarter
during the third quarter of 2011.
Net income results for the quarter ended Sept. 30 included $16.1 million related
to gains on the sale of real estate, while net
income results for the quarter ended Sept.
30, 2011, included $4.9 million related to
gains on the sale of real estate.
Funds from operations for the apartment-only real estate investment trust
were $48.2 million for the quarter, as compared to $39.2 million for the same quarter
a year ago. As a result of the strong third
quarter performance, management has
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November 9-15, 2012 5
raised FFO guidance for the year to a new
range of $4.46 to $4.56 per share.
Third quarter same-store net operating
income grew 6.7 percent as compared to
the prior year. Physical occupancy for the
same store portfolio averaged 96.1 percent
for the quarter, while average effective rent
grew 5.2 percent over the same period in
the prior year. Resident turnover remained
historically low at 56.6 percent on a trailing
12-month basis.
MAA acquired four new communities
during third quarter for a total investment
of $218 million, and sold five communities
for $47.3 million in total proceeds. Construction and lease-up continue on four
communities under development.
LEDIC Management Group
Opens Phoenix Office
Memphis-based LEDIC Management
Group, an affiliate of Hunt Cos. Inc., has
secured seven new multifamily management contracts in Arizona totaling 1,213
units. The properties are located in Mesa,
Peoria, Glendale and Camp Verde. The
communities are: The Village at Sun Valley,
The Groves Apartments, Lake Pleasant Village, Desert Eagles Estates, Steeplechase,
Parkway Apartments and Rancho Del Sol
Apartments.
The expansion further into the western
U.S. means that LEDIC now covers more
than half of the nation’s Sunbelt popula-
tion, the third-party real estate management firm’s CEO Pierce Ledbetter said in a
written statement. LEDIC currently manages more than 33,000 multifamily units in
more than 16 states.
Fogelman Partnership
Buys Houston Apartments
A joint venture with Memphis-based
Fogelman Venture Partners and New Yorkbased DRA Advisors LLC recently acquired
two apartment communities in Houston.
Gramercy Park Apartments is a 384unit apartment complex in Houston’s
Westchase submarket. Built in 1998, its
floor plans range from 660 square feet to
1,268 square feet with rental rates from
$737 to $1,307 per month. Gramercy Park
was 95 percent occupied at the time of the
acquisition.
The Villages of Briar Forest is 240-unit
apartment community located along the
“Energy Corridor” in West Houston. Built
in 1999, its floor plans range from 690
square feet to 1,256 square feet with rental
rates from $814 to $1,384 per month. The
Villages of Briar Forest was 96 percent occupied at the time of the acquisition.
Rick Fogelman, principal of Fogelman
Venture Partners, said the Houston apartment market is experiencing rapid growth
in rental rates and occupancies, largely a
result of Houston adding nearly 100,000
new jobs in the past 12 months.
weekly digest
FROM THE BLOG
Rep. Cohen on Delta’s ‘Broken Promises’
Editor’s Note: “From the Blog” is a weekly feature that highlights
some of the enterprising work our staff and contributors post on The
Daily News blog, blog.memphisdailynews.com.
ANDY MEEK | The Memphis News
U
.S. Rep. Steve Cohen, D-Memphis, released a caustic statement
attacking Delta Air Lines in light of the carrier’s decision to end
its direct Memphis-to-Amsterdam flight. Cohen referred to the
move as the latest in “Delta’s growing string of broken promises.”
“In a 2008 Judiciary Committee hearing about the proposed
Delta Northwest merger, I asked Delta Air Lines Chief Executive Officer Richard Anderson if the Memphis to Amsterdam flight would
continue if the merger was approved, and Mr. Anderson gave me
his word that it would continue,” Cohen said. “I was disappointed
to learn last February that Delta planned to scale back the flight to
a summer seasonal schedule but took Delta at their word that they
would bring back the flight in the summer of 2013. Now that Delta
has eliminated the flight altogether, I am disappointed that Delta
has once again broken a promise they made to me and the people
of Memphis.”
6 November 9-15, 2012
contributors
n o v ember 9 - 1 5 , V O L . 5 , N O . 4 6
news
SPORTS
President & CEO
P eter Sc h u tt
General Manager Emeritus
Ed Ra ins
bill dries
Senior Reporter
Government, Transportation/Distribution/Logistics,
Education, Manufacturing, Agribusiness
528-5277 | [email protected]
Publisher
Er ic Barnes
City Welcomes New
Grizzlies Owner Pera
Associate Publisher & Executive Editor
James Overstreet
Managing Editor
L ance A llan W i edower
andy meek
Deputy Managing Editor
Er ic Sm i t h
Senior Reporter
Associate Editor
K ate S i mone
Banking/Financial Services/Accountants, Markets & Economy,
Economic Development, Small Business, Attorneys/Courts/
Civil Litigation
Graphic Designer & Photo Editor
B rad J o h nson
Graphic Designer & Illustrator
Em ily M orrow
Senior Production Assistant
Sandy Yo u n g blood
Production Assistant
L aur ie B eck
Pressman
C edric Wals h
SARAH BAKER
REPORTER
Commercial and Residential Real Estate, Architects/Engineers/Construction, Advertising/PR/Media, Tourism/Hospitality, Food/Restaurants
Pressman
P ete M i tch ell
Administrative Specialist
M arsha Payne
Senior Account Executive
Janice J enk i ns
Account Executive
Rob in B ender
DON WADE
SPORTS COLUMNIST
[email protected]
Advertising Director
D on Fanc h er
Business Development Manager
Patric i a M c K i nney
Director of Marketing & Circulation
Donna Wag g ener
Production/Distribution Manager
Jo h n Bu esc h er
Controller
Pam M allett
PHOTOGRAPHER
LANCE MURPHEY
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The Daily News is a general interest
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The Daily News, the successor of the Daily
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The Daily News is supportive, including in
some case being on the boards of, the following
organizations: Literacy Mid-South, Grace St.
Luke's Episcopal School, Wolf River Conservancy,
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Robert Pera, Memphis Grizzlies chairman and controlling owner, and CEO Jason Levien
were introduced to the city during a Monday morning press conference at FedExForum.
Pera is the founder and CEO of Ubiquiti Networks.
B
efore founding the company he
runs today, Ubiquiti Networks Inc.,
34-year-old Robert Pera worked at
Apple Inc., where he was a hardware engineer. As such, he said, it made him more
or less like the “last man on the bench.”
It was perhaps fitting that Pera reached
for a basketball team image to describe
his motivations and his ambition. Pera did
so Monday, Nov. 5, during what were his
first public remarks in front of fans, civic
leaders and the media since closing on
the $377 million purchase of the Memphis
Grizzlies.
“I knew I couldn’t do a lot (at Apple)
and wouldn’t get the opportunity to, but I
could do a lot more on my own,” Pera said
about the creation of his technology company, which provides a variety of high-end
wireless networking products.
Through Ubiquiti, Pera is attempting to disrupt a marketplace, break down
barriers, empower engineers and connect millions of people around the world.
Ubiquiti’s latest quarterly earnings presentation comes later this week.
Closing the loop on that image – as
a back-bencher at Apple who wanted to
strike out on his own, fueled by imagination and drive – Pera said: “When I look at
Memphis, I kind of have the same feeling
as I had with my company.”
The good feeling appears to be mutual.
Pera and new Grizzlies CEO Jason Levien
got a standing ovation Monday before
beginning their remarks, which came
a few hours before this week’s Grizzlies
home opener against the Utah Jazz. Most
recently, Levien was a co-owner of the
Philadelphia 76ers basketball team.
Counting Pera and Levien as his new
right-hand man, the new Grizzlies ownership includes two dozen partners. For that
group, Pera and his lieutenants handpicked prominent business leaders and a
few celebrities – and plenty of locals.
“This ownership group will take the
Grizzlies to the next level,” said Edward
Dobbs, one of the new partners who’s also
CEO of Memphis-based Dobbs Management Service. “Our team is going to thrive
in Memphis for a long time.”
Levien described himself as “best buddies” with former Memphis congressman
Harold Ford Jr., who also is among the new
minority partners in the Grizzlies. At Ford’s
wedding recently, Levien also met local
businessman Billy Orgel, another Grizzlies
partner.
At Monday’s official public rollout of
the team’s new leadership, a few names of
new partners also were made public. They
include AutoZone Liberty Bowl executive
director Steve Ehrhart.
Steve Kaplan, a principal and portfolio
manager at Oaktree Capital Management
LLC, was introduced as the Grizzlies vicechairman. Pera, who will be the controlling
owner of the team, has the title of chairman. The full group met at fellow Grizzlies
partner and AutoZone founder J.R. “Pitt”
Hyde’s home Sunday night.
As of mid-Monday, the new Grizzlies
leadership was keeping information on
ownership percentages and how Pera is
financing the team, including what debt
might be part of the mix, close to the vest.
Pera was represented in the sale of the
team by Levien Sports, David Carlock and
Jeffrey Pollack, who collectively put the
team’s limited partnership group together.
O’Melveny & Myers LLP provided legal
counsel for Pera in the sale. McDermott
Will & Emery LLP represented Hoops LP
on the other side of the deal, which was
signed in June and closed Oct. 29.
Pera said he’ll be involved in decisionmaking for the team at a high level and
that Levien will handle the day-to-day.
Speaking of high-level, when asked
whether fans would get to see Pera, who’s
something of a basketball player himself,
do any dunking on court, the new owner
smiled and said simply, “Yeah.”
For more on Pera, see this week’s cover
story.
November 9-15, 2012 7
news
ed u cat i on
med i a
Sports Connection
‘Jon & Don Show’ brings insight to local, national sports landscape
Tipton-Rosemark
Remakes Campus
‘Center Point’
bill dries | The Memphis News
T
The “Jon and Don Show” on Sports 56 is hosted by The Daily News sports contributor Don Wade, right, and
commercial real estate broker/former University of Memphis basketball player Jon Albright.
SARAH BAKER | The Memphis News
B
etween Jon Albright and Don
Wade, hosts of the newly
launched the “Jon & Don Show”
on WHBQ Sports 56 AM 560/87.7 FM,
any topic a sports fan could want to talk
about is conceivable.
That’s because Wade, as a 25-year
sports journalist, and Albright, as a former basketball player for the University
of Memphis and color commentator
for outlets such as ESPN, have either
played or covered the game.
“Some of the best moments on the
show are when I’ve kind of got on my
sports writer hat and I’m putting my
two cents in,” Wade said, “but then, I
throw it right back to him and say, ‘Jon,
what’s it like when a coach says this to a
player, what’s the effect on team morale
in the locker room?’”
The show, produced by John Hardin
and managed by Chris Coats, airs Tuesdays through Thursdays from 6 p.m.
to 7 p.m. That gives Wade time for his
day job as freelance journalist, sports
columnist for The Daily News and The
Memphis News, and media consultant
for the Memphis Area Association of
Realtors. Meanwhile, Albright’s main
gig is managing director of Sperry Van
Ness/Investec Realty Services.
The duo met while playing racquetball at the Germantown Athletic Club
in the late 1990s. They caught up again
in the mid-2000s when Wade wrote a
piece on Albright’s brother, Ethan, who
at the time was playing as long snapper
for the Washington Redskins.
But they didn’t start collaborating
on the until earlier this year. Albright,
a Certified Commercial Investment
Member and Society of Industrial
and Office Realtors designee, has sold
commercial real estate for nearly three
decades in Memphis and was looking
to reach new demographics.
“When you get to doing things as
long as I’ve been doing it, not all of it
is still relevant,” Albright said. “The
younger generation, they look at things
differently, they get their information
from different sources. One of the
things I was thinking about was, ‘How
do I do something a little bit different
from what I do? How do I market a little
bit differently?’ Well, sports has been
a huge part of my background, particularly in this town. I listen to sports
talk and talk radio all of the time when
I’m in the car, so it kind of made some
sense.”
What makes their program stand
out from similar sports talk radio formats is the approach. Instead of focusing on just one topic, such as recruiting,
Albright and Wade dig into the broader
economic ramifications of sports.
“Sports is interwoven in all aspects of society,” Albright said. “Most
everybody you know has got some type
of sports connection – whether that’s
playing, coaching, parenting, whatever
it is – we’ve all touched sports in some
fashion. We spend a lot of time talking
about how influential sports is, not only
just in popularity, but also financially.”
The “Jon & Don Show” also makes a
point to bring on experienced professionals from around the country to
weigh in on topics from television
contracts to bowl participation. They’re
contacts that both Albright and Wade
have made along the way in their
respective careers, and so far, it’s been
well-received.
“We’re happy to give you opinion,
that’s part of what we do, but we also
spend a lot of time trying to get pertinent, relevant experts to come on the
show,” Albright said. “Sometimes we
struggle with allowing all of the callers.”
For instance, one of their weekly
guests is George Schroeder, former
president of the Football Writers Association of America and national college
football writer at USA Today.
“He’s perfect for our show because
he understands the whole SEC mentality and how crazy everybody is, but
he’s also been away from it for a long
time,” Wade said. “He’s got a really good
view from 30,000 feet, but yet, he’s
been down here in the trenches and he
knows what makes people tick here.”
Other guests have included Lee
Fowler, an athletic administrator and
consultant and former U of M assistant
basketball coach, and John Wilfong,
who played for the Tigers with Albright
in the 1980s and now serves as a financial adviser at UBS Financial Services
Inc., where he works with professional
athletes on investments.
Follow the “Jon & Don Show” on
Twitter @JonAndDonShow. The Daily
News supports the “Jon & Don Show.”
he new performing arts center at
Tipton-Rosemark Academy used to be
the gymnasium and before that it was
the cafeteria.
The 64-year-old building has been adaptable and until the remake as a performing
arts center for the private school in North
Shelby County those who used it over the
years also had to be adaptable.
“It was used for a gym up until they built
the new gym in 2000. Then it was used as
the gym and the performing arts center. It
was still a gym, though,” said John Scott, the
school’s headmaster. “The worst thing about
it was when they ran the heaters, which were
those big old blower heaters that hung from
the ceiling. You had to turn them off because
you couldn’t hear. The acoustics were like a
gym. But when you turned them off, it got
very cold in there quick because there wasn’t
a lick of insulation in the whole building.”
The school considered demolishing the
building but opted instead for a $2 million
remake.
Scott described it as the “center point” of
the campus.
The only signs of the building’s former
life as a gym are the hardwood floors. The
acoustics are more appropriate for lines
from the center’s first production, “Rehearsal
For Murder,” which closed Sunday than a
referee’s whistle.
“It’s all for the arts now,” Scott said. “We
have a workshop that our visual arts or
graphic arts can work in. We’ll use it for both,
but mostly for now it is performing arts. We
wanted a place to develop that talent and for
them to perform in. Training is very important.”
Scott hopes the center will be used by
community groups other than those connected directly to the school. It’s also open for
bookings for weddings and similar events.
“There’s nothing like this around that I
know of in this area. The closest thing is in
Bartlett,” he said, referring to the Bartlett
Performing Arts Center. “Tipton County
doesn’t have anything like this. Millington has
the civic center but this is specifically for the
performing arts.”
The performing arts center renovation caps four years of construction on the
campus including a new high school that
replaced the old Rosemark School – the first
public school in North Shelby County – built
in 1912. It and the surrounding property were
bought by Tipton-Rosemark Academy in 1970
when the private school expanded to include
grades 9-12.
The academy’s elementary school recently added 12,000 square feet and in 2000
the middle grade school building opened.
The campus now has room for 1,000 students, room to grow from the school’s current
enrollment of approximately 650 students.
8 November 9-15, 2012
COMMUNITY
Chamber to Host New York Times
Correspondent David Sanger
N
ext week, the Greater Memphis
Chamber is hosting a conversation in Memphis with the chief
Washington correspondent for The New
York Times.
David Sanger, who’s also the author
of the new book “Confront and Conceal”
and who has been at the vanguard of
reporting on issues related to Iran for the
Times, will be here as part of the chamber’s regular “A Conversation With …”
series.
Sanger’s presentation will be Nov. 14,
from 11:30 a.m. to 1 p.m. at the Hilton
Memphis, and it comes one week after the
presidential election. He’ll talk about the
election, the economy and how those and
other issues of national significance have
the potential to affect Memphians.
“David’s on the front lines of discussions involving issues that have an effect
on the global economy,” said Andre Dean,
the chamber’s vice president of public
policy and community development. “He
covers individuals that have a pulse on
national policy.
“
David’s on the front lines
of discussions involving
issues that have an effect
on the global economy.
He covers individuals that
have a pulse on national
policy.”
– Andre Dean
Greater Memphis Chamber
Vice president of public policy
and community development
“Memphis is increasingly impacted
by global competition and the decisions
made in Washington. This event will give
our members an opportunity to be a part
of those important discussions. We continually seek opportunities that provide
insight into the changes affecting the
global workforce and the fight for jobs.”
Sanger’s presentation is something
that likely will interest Memphians from a
wide array of fields.
David Waddell, for example, is paying
close attention to the topic.
Waddell, president and chief investment strategist at Waddell & Associates
Inc., told the Wall Street Journal a few
days ago that he anticipates investors
not making any big moves until after the
presidential election.
“The stock market is closed for
business” until then, essentially, is how
Waddell described it. Waddell, who also is
a columnist for The Daily News, told the
Journal his own firm has been looking at
plenty of strong investment opportunities
outside the U.S., given things like the socalled fiscal cliff in the U.S.
Meanwhile, just because Tennessee is
not a battleground state does not mean
there’s been a dearth of political action
here.
Republican vice presidential nominee
Paul Ryan raised about $1 million for the
Romney-Ryan presidential ticket a little
more than a month ago during a fundraising stop at The Racquet Club of Memphis.
The evening event raised about the
same amount a Ryan fundraiser did
earlier the same day across the state in
Knoxville.
After the Memphis event, Ryan also attended a gathering at the home of FedEx
founder and CEO Fred Smith.
An interactive map prepared by CNN
and Google shows the two presidential
campaigns – not counting any SuperPACs
– have spent about $2 million on advertising in the Volunteer State.
The graphic shows $1.42 million in
Obama campaign ad spending, and a
little more than $530,000 in Romney campaign ad spending – again, not counting
money spent on ads by outside groups.
Both campaigns have raised a little
more than $8 million in campaign funds
from Tennessee – $5.8 million for Romney
and $2.5 million for Obama, according to
the CNN data.
Time to Plan is Now for Your Home’s Winterization
ing to research.
Vinyl replacement windows offer a
Exterior replacement projects retained
higher return on investment than wood
the most value in home improvements.
replacement windows and also have a
For example, updating and replacing
higher projected return on investment
fiber-cement siding returned
than many other home improvement projects, including
ERIC A. TROTZ 78 percent of homeowners’
GUEST COLUMN original investment.
a kitchen or bath remodel,
A furnace doesn’t just
addition of a master suite or
provide heat and comfort during cold
new bathroom, or a roof replacement.
months, but proactively tuning or replacReplacement windows also can be
ing a home’s furnace can alleviate issues
especially valuable to homes built before
when considering resale.
1978, due to the importance of reducing
According to Consumer Reports, the
lead-based paint in older homes, accordaverage lifespan of a furnace is 15 to 18
years.
Homeowners should keep this timeframe in mind when debating servicing
versus replacement.
The Appraisal Institute also encourages homeowners to contact an appraiser
on the front end of their winterization
A Patient’s View:
projects.
“I’ve had a lot of dentists before (I’ve lived in a lot
A qualified, competent appraiser can
of places), and I’ve had dentists whose work is
make recommendations about which
definitely shoddy. Finding a good service provider is
updates will provide the most impact on
hard. It’s a lot like finding a good hair stylist/barber;
resale value, as well as what is the norm
once you find someone, you stick with them.”
for the local area.
I highly recommend Dr. Castle. His work is top notch
Some winterization projects include:
and he is extremely nice; he’s definitely not one of
Clean the gutters – Remove leaves
those uppity, crusty doctor types!” - Paul C.
and debris so rain and melting snow can
drain, preventing backed up water or ice
that can clog drains and allow water to
general dentistry
seep into the house.
The Appraisal Institute urges
homeowners to consider winterizing their
properties to potentially lower energy
costs, increase comfort in cold months
and possibly improve resale value.
The institute encourages homeowners to focus on three main updates for the
winter: windows, exterior and furnace.
Adding energy-efficient vinyl windows
to the home can have an average payback
of more than 69 percent, according to
the Remodeling 2011–2012 Cost vs. Value
Report, published by Hanley Wood.
Call for an appointment today!
901.685.5008
William N. Castle, D.D.S.
79 n. cooper (in midtown) • memphis, tn 38104
Add insulation – Most homes need a
minimum of 12 inches of insulation in the
attic, regardless of climate conditions.
Check the ducts – Ensure ducts are
not exposed and are well connected. Otherwise, homes with central heating can
lose up to 60 percent of heated air before
it reaches the vents, according to the U.S.
Department of Energy.
Keep drafts out of windows – If replacing windows isn’t in the cards this winter,
insulating them with plastic and doublesided tape is extremely effective and
much less expensive.
Tune the furnace – Clean and tune a
furnace annually to increase efficiency
and the life of the furnace. Check the
furnace now to make sure it does not produce a smell, which will require attention
before continuous running in the winter.
For additional information on home
improvements that can be made throughout the year, please see the Appraisal
Institute’s Home Improvement Tips fact
sheet.
For additional information on the
Appraisal Institute, and to view a list of
local chapter members, please visit www.
aimemphis.org or www.appraisalinstitute.
org.
Eric A. Trotz is president of the Memphis
Chapter of the Appraisal Institute.
November 9-15, 2012 9
Money&Markets Extra
so, and I’m not quite sure it’s bottomed
out just yet.
What we like are bits that are more
dependent on consumer demand in the
middle class. Things like China Mobile,
for example, which is moving on from
supplying just wireless to also feeding the
increasing data demand for telephone
users.
Indian stocks have been some
of the world’s strongest this year,
surging more than 20 percent. That
may have been too much, too quickly,
and it could hurt short-term investors.
But investors with long-term goals
should stick with Asian stocks, says
Adrian Lim, senior investor manager
at Aberdeen Asset Management. He
helps run several Aberdeen funds that
specialize in Asia.
Insider
Q&A
Asia’s lure
Title: Senior
investment
manager at
Aberdeen Asset
Management
China’s stock index has held steady
the last month or so, after falling more
than 10 percent from May through
In China, worries about the sharp
September. Is it too early to say
economic slowdown have calmed
Chinese stocks have hit bottom?
down in recent weeks. Is it justified?
The bottom could have passed, but it
The Chinese numbers are improving,
could also have volatility over the next
but it really depends on what sectors
three or four quarters. I don’t think it lasts
you’re interested in. There are sectors
that will struggle. Infrastructure has had much longer than that, unless something
a very good run over the last decade or dramatic happens.
What he suggests:
Asian stocks are
good long-term
investments
Adrain Lim
What do you think of the big rebound
for Indian stocks?
It has gone very quickly, and it seems
too much, too soon. What has changed
is they have replaced the Finance
Minister with someone who is a proven
administrator. Within his first 100 days,
he’s announced policy changes that
signal that he knows what he wants
to do, and it’s sensible, and it sounds
like he has the political support in the
government to do it.
But you know what? The things he
says he wants to do won’t have an
immediate, fundamental impact. If it
works, it will bring benefits in two, three
years. These are intermediate-term fixes
that the Indian markets need.
in 20 years or so, should definitely be
holding Asian stocks?
Asian markets are an easy call. If
you have a 20-year horizon, the demographics are geared toward expansion.
The cultures are geared toward making
money and saving and having a better
quality of living, so materialism is
strong. Greed and materialism are
strongly entrenched.
The materialism is healthy. People
don’t expect a living from the state,
so they work at it. And when you look
at the balance sheets — whether it’s
the country or the individual — Asian
balance sheets are quite healthy, so
you’re insulated against quite a bit of
financial risk.
So someone saving for retirement, say
Answers edited for content and clarity.
AP
RH’s
restoration
BEHIND THE BRAND TUPPERWARE (TUP)
Restoration Hardware (RH)
Enduring
shelf life
Thursday’s close: $33.08
IPO price (last Friday): $24
Founded: 1980 Stores: 87 (U.S. & Canada)
Headquarters: Corte Madera, Calif.
Competitors: Williams-Sonoma (WSM),
Crate & Barrel (private), Ethan Allen (ETH)
REVENUE (in millions)
$958
$773
$626
It’s perhaps the most novel and
enduring sales strategy: The
Tupperware party.
People have been hosting
gatherings to hawk food-storage
containers under the Tupperware
brand for more than 60 years.
Inventor Earl S. Tupper went
NET INCOME (in millions)
$21
-$7
-$29
2009
Restoration Hardware’s stock is up 38 percent since last
week’s initial public offering, its return to the market after going
private in 2008. This fall, the high-end furniture retailer
rebranded itself as “RH”.
Financial analysts are impressed with the reinvented
company’s progress. From fiscal 2009 to 2011 it increased
revenue by 53 percent. The company was in trouble during the
recession, but underwent a makeover by slashing its mall
locations and targeting high net-worth consumers. It plans to
open in 50 new markets over the next 7 to 10 years.
RH also had to overcome a scandal when Gary Friedman,
the public face of the chain, resigned as chairman and co-CEO
in August, after an internal inquiry into an alleged relationship
with a company employee. He remains a key adviser.
2010
Fiscal year
Thursday’s close: $61.03
2011
Price-earnings ratio: 17
(based on last 12 mos.)
52-week price range
2011 REVENUE BREAKDOWN:
$51
Others
Bath
7%
11%
17%
1-yr. stock change:
12%
1-yr. S&P 500 change:
8%
Market value:
$3.4 billion
2011 revenue:
$2.6 billion
Indoor
furniture
Dishes &
flatware
43%
Avg. broker rating:
Textiles
SELL
22%
Dave Carpenter, Jenni Sohn • AP
Source: FactSet
$65
Source: FactSet
BUY
HOLD
with the concept after he failed to
sell his wares in stores.
The direct-sales approach, now
employed by a sales force of 2.6
million across nearly 100 nations,
continues to pay off for Tupperware
Brands.
Tupperware’s profit has
increased 18 percent over the past
four years, with strong growth
coming from emerging markets,
which now account for two-thirds of
its revenue.
That’s been a boon for the
company, particularly when the
dollar was weaker against other
currencies. When the reverse is
true, that can cause overseas
revenue to translate into fewer
dollars.
Even so, Tupperware’s
worldwide sales last year totaled
$2.6 billion. And last month, the
company raised its profit outlook
for the year.
Its stock, meanwhile, is up 9
percent this year.
Alex Veiga, Jenni Sohn • AP
Data through Nov. 8
LocalStocks
COMPANY
TICKER
AT&T Inc
T
AutoZone Inc
BancorpSouth
AZO
52-WK RANGE
LO
27.41 6
CLOSE
HI
38.58
313.11 8 399.10
Boyd Gaming
BXS
8.57 7
15.69
BYD
5.17 1
9.75
Community Hlth Sys
BKI
24.08 1
38.50
CYH
15.97 8
32.70
CXW
20.14 9
35.73
CMI
82.20 4 129.51
Buckeye Technology
Corrections Corp
Cummins Inc
Delta Air Lines
Dillards Inc
Dover Corp
DuPont
Education Realty Tr
DAL
7.08 7
12.25
DDS
42.54 0
82.99
DOV
50.14 6
67.20
DD
43.06 1
57.50
EDR
8.52 5
11.81
Fst Horizon Natl
FDX
76.06 7
97.19
FHN
6.65 6
10.99
GTx Inc
FRED
11.74 4
15.98
GTXI
2.34 4
6.55
IM
14.42 3
19.80
IP
25.36 7
38.42
FedEx Corp
Freds Inc
Ingram Micro
Intl Paper
Isle Capri Casino
Kellogg Co
Kirklands Inc
Kroger Co
LifePoint Hosp
Macy’s Inc
ISLE
K
3.90 5
7.92
46.33 9
54.79
8.50 2
17.42
KR
20.98 8
25.44
LPNT
34.32 3
43.87
M
29.43 8
42.17
KIRK
CLOSE THUR. %CHG
33.20
378.97
13.19
5.22
24.67
-.44
-5.40
-.21
-.18
-.91
28.51
-1.88
96.56
-1.54
83.95
+3.14
43.26
-.57
34.13
10.29
59.61
10.14
90.03
9.00
13.02
3.85
15.78
34.48
5.74
53.67
9.55
24.54
36.33
39.01
-.07
+.35
-.55
+.01
-1.48
-.16
-.44
-.01
-.12
-.49
-.12
-.49
-.04
-.10
-.69
-1.44
YTD% 1YR%
WK MO QTR CHG RTN P/E
DIV
COMPANY
TICKER
-1.1
t
t
t
+7.3 +21.3 12
1.04
... Merck & Co
MRK
0.04 Mid Amer Apartments MAA
...
Monsanto Co
MON
0.36f
Mueller Inds
MLI
...
NAV
0.80 Navistar Intl
33.13 8
48.00
43.84
-.62
-1.4
t
t
t +16.3 +34.4 20
1.68
55.12 6
70.22
63.12
-.69
-1.1
t
t
t
67.09 8
92.20
86.33
-1.02
-1.2
s
t
t +23.2 +21.5 23 1.50f
35.56 6
51.41
44.92
-.87
-1.9
s
t
t +16.9
18.17 1
-1.4
t
s
s +16.6 +17.5 17
-1.6
t
t
t +19.7 +34.5 15
-3.3
t
t
t
-30.0
-21.7 37
-3.6
t
t
t
-26.2
-18.1 14
-6.2
t
s
t +63.4 +53.6 11
-0.2
t
s
s +67.6 +58.3 23
-1.6
t
s
s
+3.5
s
s
s +27.2 +19.6
4
+3.9
s
s
s +87.1 +47.4
-0.9
s
s
s
-1.3
t
t
t
+0.1
t
t
t
-0.9
-1.6
t
r
s
+7.8 +12.4 14
0.56
-1.7
t
t
t +12.5 +26.7 dd
0.04
-3.3
t
t
t
-0.3
s
t
t +14.6
-0.8
s
s
s
-1.4
t
t
-2.0
t
t
-0.9
r
s
-0.4
r
-0.4
t
-.60
-2.9
t
t
t
-47.4
-51.6 dd
...
-2.79
-2.9
t
t
t
-4.7
+2.4 20
1.44
8.89 9
13.29
12.47
-.22
-1.7
t
s
s +22.7 +10.3 22
...
3.51 7
7.73
6.38
-.15
-2.3
t
t
t +48.4 +57.9 11
0.04
13.00 7
20.45
17.64
-.48
-2.6
t
t
t +17.6 +25.3 18
0.68
42.63 7
56.32
51.42
-.06
-0.1
s
t
t
+6.8 +19.6 71 1.04e
SJM
70.50 8
87.81
83.82
-.77
-0.9
t
s
t
+7.2
STI
15.79 8
30.79
26.39
-.18
-0.7
t
t
t +49.1 +36.7
8
0.20
PNK
+2.7
+9.6 12
1.40
Regions Fncl
RF
-5.5
-7.1 13
1.72
Renasant Corp
RNST
Smith & Nephew PLC
SNN
Smucker, JM
Suntrust Bks
-13.2
-13.7
... Sysco Corp
8
... Trustmark
t +16.5 +25.5 17 1.20a Tyson Foods
t +22.9 +12.7 dd
...
s
+6.1 +10.8 16
1.76
t
t
-28.2
-22.5 12
s
s
+1.3
+8.8 23 0.60f
-2.2
-4.8 12
-1.9
t
t
t
-3.6
t
t
s +21.2 +27.2 12
+9.5 22 0.50f
91.86
0.20
0.24 Synovus Fincl
2.64
19.93
9
0.40
+8.5 33
48.18
Nike Inc B
... Pinnacle Entert
+0.9
85.10 3 114.81
2.00
+3.2 dd
DIV
-.45
+9.8 +20.2 43 1.80f
-10.7 +12.2 14
YTD% 1YR%
WK MO QTR CHG RTN P/E
41.06
t
+11.6
CHG %CHG
44.79
t
-1.2 10
THUR.
33.21 7
t
+9.7
CLOSE
HI
MDT
-1.3
Medtronic Inc
52-WK RANGE
LO
NKE
+9.6 21
2.08
SNV
1.28 8
2.60
2.24
-.02
-0.9
t
t
t +58.9 +57.5 dd
0.04
SYY
26.87 7
31.90
29.89
-.35
-1.2
t
t
t
+1.9 +12.3 16
1.08
TRMK 20.12 4
26.35
22.02
-.39
-1.7
t
t
t
-9.3
+3.0 13
0.92
TSN
14.07 4
21.06
16.71
-.31
-1.8
t
s
s
-19.0
-11.1 13
0.16
UPS class B
UPS
66.46 4
81.79
72.59
-.42
-0.6
t
s
s
-0.8
+6.8 18
2.28
Utd Technologies
UTX
70.41 4
87.50
76.16
-1.52
-2.0
t
s
t
+4.2
+1.7 13
2.14
Valero Energy
VLO
19.12 7
34.36
29.37
-.02
-0.1
s
s
t +39.5 +14.6
... Verso Paper Corp
VRS
0.85 2
3.36
1.18
-.03
-2.5
t
t
t +22.9
WMGI 13.57 7
22.59
19.78
-.05
-0.3
t
t
t +19.9 +29.4
...
0.80
Wright Medical Grp
8
0.70
-24.8 39
...
cc
...
Dividend Footnotes: a - Extra dividends were paid, but are not included. b - Annual rate plus stock. c - Liquidating dividend. e - Amount declared or paid in last 12 months. f - Current annual rate, which was increased by most recent dividend announcement. i - Sum of dividends paid after stock split, no regular rate. j - Sum of
dividends paid this year. Most recent dividend was omitted or deferred. k - Declared or paid this year, a cumulative issue with dividends in arrears. m - Current annual rate, which was decreased by most recent dividend announcement. p - Initial dividend, annual rate not known, yield not shown. r - Declared or paid in preceding 12
months plus stock dividend. t - Paid in stock, approximate cash value on ex-distribution date. PE Footnotes: q - Stock is a closed-end fund - no P/E ratio shown. cc - P/E exceeds 99. dd - Loss in last 12 months.
10 November 9-15, 2012
Consider ‘FLP ’
For Your Family
Ray’s Take
A Family Limited Partnership (FLP) can not only
be a good idea for reducing estate taxes, it can also
bring a number of other advantages.
FLPs are primarily useful to those with extensive
real estate investments or family-owned businesses
to pass on to the next generation as opposed to
stocks, bonds, and similar financial investments.
Basically, it converts property interest ownership
into partnership interest
ownership.
Typically,
the general
partners (GP)
in a FLP are
the older
ray & dana Brandon generation.
rays of wisdom
They manage
the partnership like a holding company. The limited
partners (LP) are usually the members of the generation who would inherit but, at least initially, have
no direct control over assets in the FLP.
A primary advantage of an FLP is the ability to
gift partnership interests to LPs while still maintaining full control of that interest. This can reduce the
taxable estate of the senior/GP family members,
plus the interest transferred to the donees can be
discounted. Transfers from GP to LP within the partnership are also eligible for annual gift tax exclusion.
Beyond this, establishing an FLP can ease the
transition of a business or other complex assets
from experienced hands to the next generation.
It not only enhances planning for management
succession by allowing the GPs to retain control of
assets to limit problems due to inexperience, it also
helps to assure estate tax savings that could otherwise undermine continued ownership. Engaging the
next generation in this more limited way initially can
allow them an understanding of the management
without full throttle responsibility.
FLPs are not for everyone, however. Beyond the
necessary legal services, qualified appraisal services
are required to determine the discount value of partnership interests. This makes FLPs more expensive
than some other estate-planning tools. However, the
advantage that comes from discounting the assets
of an FLP – along with the transitional benefits – can
make it well worth the cost. Ask your attorney or
financial advisor to learn more.
Dana’s Take
Family Limited Partnerships are usually used by
immediate family members. As we all know, anytime
you’re dealing with family, a host of emotional issues
come to bear along with the financial ones.
In addition to evaluating the dollar costs associated with establishing and maintain a FLP. It’s important to consider relationship costs as well. Talk to
every family member who will be included in a FLP
to make sure they all understand its advantages.
Make sure an estate planner meets with all parties to answer questions. After that meeting, give the
family time to discuss the options and bring up any
further concerns or preferences.
To make a FLP a success both as a property
management tool and as an estate-planning tool,
clear and open communication between the generations is vital. Blood may be thicker than water, but
the less spilled over family feuds the better.
Ray Brandon is a certified financial planner and
CEO of Brandon Financial Planning (www.brandonplanning.com). His wife, Dana, has a bachelor’s degree in finance and is a licensed clinical social worker.
Contact Ray Brandon at [email protected].
NONPROFIT SECTOR
Milestones, Growth
Occuring at GOU
MICHAEL WADDELL | Special to The Memphis News
Great Outdoors University looks to expand into other markets
T
he Tennessee Wildlife Federation's Great Outdoors University program is fulfilling its
goal to connect inner-city children
with nature in meaningful, lifechanging ways.
The youth conservation education and outdoor experience program recently surpassed the 12,000
meaningful experiences milestone
and now prepares for expansion into
North Carolina and Missouri, as well
as growing in Tennessee.
The organization’s 2012 calendar
is made up of more than 120 trips,
with approximately 1,800 children
getting the chance to participate.
The program operates year-round,
taking kids to natural destinations
for Saturday field trips, weekend
overnight trips and school break
day-camps. Participants include
children who are not likely to have
the opportunity to learn about and
experience the great outdoors.
“We just want the kids to have
a chance to have fun in nature,”
said Kate Friedman, GOU Memphis
program coordinator, who explains
that organizational outings include
outdoor activities like fishing, hiking,
exploring, spelunking, rock climbing, bird watching and even building
shelters.
Peter Schutt, National Wildlife
Federation National Volunteer of
the Year in 2011 and president of
The Daily News Publishing Co. Inc.,
formed GOU in Memphis in March
2006. The organization expanded to
Nashville in 2009 and provided its
first trip in Knoxville last year.
GOU Memphis will conduct
roughly 50 trips this year and plans
for the same number in 2013.
Day trips, usually consisting of
20 kids each, take place nearly every
weekend (excluding holidays) from
March to December. GOU touts all of
its trips as having physical exercise,
conservation and natural resource
learning, outdoor skills development
and meaningful experiences with
adult leaders and role models.
“For day trips we take the kids to
places like Meeman-Shelby Forest
State Park, T.O. Fuller State Park, the
Wolf River, Wall Doxey State Park in
Mississippi and Village Creek State
Park in Arkansas, as well as some
private properties and church retreat
centers,” said Friedman, who has
been involved with environmental
programs for more than 20 years.
During 2012 GOU Memphis
has partnered with the Boy Scouts’
Photo: Sonya Wood Mahler, GOU Statewide Manager
A student examines salmon berries while on a Great Outdoors University
trip this summer to the Cascade Mountains in Washington.
ScoutReach program, Girls Inc.,
BRIDGES, Youth Villages, St. George’s
Memphis campus and the Boys and
Girls Club of Brownsville.
“We love the GOU. They’ve been
fabulous. Our kids have been able to
go out and enjoy themselves away
from the stresses of school. It’s great
for the learning, the sportsmanship,
and the camaraderie,” said Anne
Cannon, principal at Youth Villages’
Nicholas Hobbs Academy. “The kids
have participated in bonfires, fishing trips, camping trips and nature
walks. Many of them have never had
anyone teach them about nature, so
to be able to go out and learn and
interact directly has been a real privilege for them.”
GOU also conducts larger outings like family fishing trips.
“We encourage the kids to bring
family members because we hope
the parents have so much fun with
their kids that they will want to do it
again,” Friedman said.
In July, eight boys from the
Memphis area were chosen to go on
GOU’s annual trip to the Cascade
Mountains in Washington.
“The kids were great, and the
weather was perfect. We took them
sailing, whale watching, hiking, and
camping, and we even explored an
island,” said Sonya Wood Mahler,
GOU statewide manager. “None of
the boys had ever been on a plane
or a boat, and many had never tent
camped, and they loved it.”
GOU is currently in the process
of franchising into states outside
of Tennessee with the help of the
National Wildlife Federation.
“The states that we’re working
on right now are North Carolina and
Missouri, with hopes of going into
several others next year,” Mahler
said. “We are also hoping to expand
inside Tennessee to Chattanooga
and Knoxville in the future.”
The Daily News supports the Tennessee Wildlife Federation and Great
Outdoors University.
November 9-15, 2012 11
real estate & de v elopment
EARNINGS
Mallory-Neely House Return
Boon for Victorian Viallage
GTx Rebounds With
Strong Third Quarter
T
hanks to a new roof and
disability compliance, the
Mallory-Neely House will be
open to the public Fridays and Saturdays beginning Friday, Nov. 9.
Listed on the National Register
of Historic Places and located at 652
Adams Ave. in Downtown Memphis’
Victorian Village Historic District, the
Mallory-Neely House retains most of
the original historic interiors, furniture and artifacts.
Nora Tucker, project manager
with museum planning and exhibit
design firm Design 500, said the reopening of the Mallory-Neely House
to strengthen heritage tourism has
always been one of the focuses of
Victorian Village Inc., where she also
serves as administrator.
“We field a lot of calls here in our
office from tourists and visitors who
say, ‘OK, Victorian Village, how many
houses are open?’” Tucker said. “For
this last six years that we’ve been in
operation, we have been able to say,
‘Well, there’s one: the Woodruff-Fontaine House.’ And the Mollie Fontaine
Lounge is open after 5 p.m. four days
a week. But it’s very important to us
to now be able to say, ‘We have got
two beautiful, historic homes open
that you can tour.’”
Isaac and Lucy Kirtland bought
Mallory-Neely House in 1852 and
built a two-story home for their family. In 1883, Columbus and Frances
Neely bought the house and moved
in with their five children.
The Neelys made significant
changes, adding a third floor with
an additional level for the tower, and
were responsible for the interiors
seen today. The décor and furnishings
date to circa-1890 and include pieces
the family bought at the World’s
Columbian Exposition in Chicago
in 1893 and later from the St. Louis
World’s Fair in 1904.
The Mallory-Neely House was
preserved in this manner by Frances
Neely Mallory, known throughout her
life as Miss Daisy, who moved into the
house with her parents as a child and
was the last family member to reside
there until her death in 1969.
In the 1970s, the Mallory family
gave the house and contents to DarSar-Car Chapter House Inc., which
opened it as a house museum. The
group in turn gifted it to the city in
1985 and it has been a facet of the
Pink Palace Family of Museums and
operated as a historic house museum
since 1987.
The Mallory-Neely house has
been closed since the spring of 2005,
when The Historic Properties of
the Memphis Pink Palace Family of
Museums were closed to the public
in the spring of 2005 due to budget
shortfalls. While closed, two big projects have been under way.
One is compliance with the Americans with Disabilities Act. The first
floor of the house is now accessible to
visitors in wheelchairs, while a video
in the newly remodeled Carriage
House allows disabled visitors to see
the second floor. The Carriage House
also has an ADA-compliant restroom,
refurbished entrance and handicap
parking spot.
Secondly, the Mallory-Neely
House has a new roof. The old slate
roof on the house dated to the 1890s
and simply wore out. Thanks to
Clark/Dixon Architects, great care has
been taken so that the new, city-funded $268,000 roof mirrors the original.
“It is just like the original slate. …
It was matched in color, and we had
to actually wait to get the correct roof
material so that it could be,” said Dianne Dixon, firm principal. “It’s very
important to us that the roof go back
on and be as historically correct as it
was in the beginning because this is
one of the most important historic
homes left in that block that’s held by
the city.”
Victorian Village has certainly
seen momentum recently. In August, the city agreed to transfer the
James Lee House to local developer
Jose Velazquez, who plans to invest
$2.1 million to turn the 171-year-old
Victorian Village mansion into a “topnotch, luxury” bed-and-breakfast inn
with five suites.
Those interested in witnessing
Mallory-Neely House’s new roof and
celebrate the area’s resurgence are
invited to attend the “Victorian Village Tent Revival” on Sunday, Nov. 11,
from 1 p.m. until 5 p.m. at Victorian
Village Park across from Juvenile
Court at 616 Adams Ave. Admission is
$10 for Victorian Village Inc. members
and $20 for non-members.
M
emphis-based biopharmaceutical
company GTx Inc. on Thursday, Nov. 8,
reported net income of $7.4 million for
the third quarter, fueled primarily from $18.8 million in net proceeds from the sale in early October
of Fareston, a breast treatment medication.
The company’s net income compares to a net
loss of $9.3 million for the same period last year.
For the first nine months of this year, GTx
reported a net loss of $14.1 million compared to a
net loss of $22.6 million for the same period of 2011.
Research and development expenses for Q3 were
$9.8 million compared to $8.2 million for the same
period in 2011.
“The proceeds from the sale enhanced our balance sheet and give us comfort that we should have
sufficient cash available to us to see data from both
our enobasarm and capesaris clinical studies,” said
Dr. Mitchell Steiner, GTx chief executive officer. “Let
me point out that we reported $47.3 million at hand
in the quarter, and following the sale with Fareston we had approximately $66 million in cash and
short-term investments.”
On Oct. 1 GTx sold the rights and certain assets
of Fareston 60mg tablets to New Jersey-based ProStrakan Group for a total cash consideration of $21.7
million. Fareston is an approved treatment of metastatic breast cancer in postmenopausal women in
the U.S. The company is developing two medications used in lung and prostate cancer treatments.
“GTx has made good progress in advancing our
two late stage clinical programs: enobasarm for
the prevention and treatment of muscle wasting in
patients who have advanced small-cell lung cancer
and capesaris, a secondary hormonal treatment
for men with castration-resistant prostate cancer,”
Steiner said.
The company is on schedule with enrolling
subjects for its Stage III clinical trials of enobasarm
at more than 80 sites in the U.S., Europe and South
America. Each trial will include 300 patients with
either Stage III or Stage IV small-cell lung cancer.
Make Sure Your Nonprofit Organization is Mobile
Part one of a three-part series
Life has gone mobile. For many,
life is lived on the move and cell phones
and mobile devices are our guides helping
with communication, directions, purchases, music, news updates, videos and more.
“Mobile” has become the way much of
America is using their computer. IPhones,
Androids and BlackBerries are replacing
laptops and desktop computers. Tablets
and mobile phones are replacing the way
that people access the information when
they are on the road.
Think Amazon.com, Zappos, your
airline ... . People use their mobile phones
and tablets hundreds of times a day. They
have made the leap and many – especially
younger people – expect the nonprofits
they support to have user-friendly technology. Consumer-based businesses have
made the shift. Now it’s time for the non-
gala. Your guests are assembled. They
profit sector to do the same.
just heard a powerful and motivating talk.
Ask yourself, your staff and your board
The room is abuzz. The
members the following
speaker closes with “Text
questions. How quickly
the word GIVE to 45678
and easily can people
and you instantly become
give to your nonprofit?
part of the solution.”
Do they have to write a
Your guests start
check? Fill out a form
texting and they immediand send it in? Can they
ately receive a link to your
give in the moment?
At a football game,
MEL & Pearl shaw mobile giving page – or
FUNdraising better yet, a mobile giving
concert, conference,
page customized for your
or while in church?
gala. They enter their information into the
Can people use their cell phone or mobile
page and their gift is made. On top of that
device to give now, or do they have to wait
a thank you note is automatically generand make the gift later?
ated and sent out right away. Done!
While large gifts are made after careful
Compare that to the traditional “enconsideration, many gifts are made as an
velope ritual”: envelopes are set out for
emotional response to a well-orchestrated
people to use for their gift or pledge. Idecall to action. If you miss the emotional
ally a check goes check inside. Maybe they
moment you miss the gift.
write a note – “will give $100.” If supportHere’s an example. It’s your annual
ers are daring, they will write down their
credit card number so staff can run the
card after the event. But, very few people
carry checkbooks anymore. So the emotional moment is lost and the actual giving
of the gift is delayed and may, or may not,
ever occur.
Bottom line: Nonprofits need to adapt
the most commonly used tools to connect
and engage supporters. It is simply part of
today’s capacity and infrastructure. And
it is directly tied to nonprofit communications and fundraising.
Next week: details on mobile giving –
our conversation with David Asheim, CEO
of Give by Cell.
Mel and Pearl Shaw are the owners of
Saad & Shaw. They provide fundraising
counsel to Memphis, the Mid-South and the
nation. Visit them at www.saadandshaw.
com or call 522-8727.
12 November 9-15, 2012
R E A L E S TAT E & D E V E L O P M E N T
GAME CHANGERS Commercial Sectors’
Highs, Lows at Heart
Of TDN Seminar
PAST • PRESENT • FUTURE
Greater Memphis Chamber’s Annual Chairman’s Luncheon
Title
Sponsors:
Ticket information please
contact 901-543-3500 or visit
www.memphischamber.com
Presenting Sponsor:
Event Sponsors:
Photo courtesy of the Memphis and Shelby County Room, Memphis Public Library & Information Center.
Local market mirroring national trend
M
emphis’ commercial real estate
market for the most part appears to mirror national trends,
with all four sectors boasting challenges
and bright spots so far this year.
That was a message a room full of
real estate professionals received when
The Daily News hosted its second annual
Commercial Real Estate seminar Thursday,
Nov.1, at the Memphis Brooks Museum of
Art, sponsored by Magna Bank and Evans
Petree PC.
Andy Cates of Colliers International
Memphis said year-to-date industrial
absorption in the third quarter was a
negative 541,915 square feet according to
CoStar, but that he expects that number to
“change dramatically in the next quarter.”
But Memphis’ rates are nearly the
lowest in the country, with square foot
averages of $2.53 locally compared with
$5.14 nationally.
“This is the number that I’m screaming
anytime I’m on the phone with anybody
from out of town,” Cates said. “This is real,
we’re not making this up, please come
check us out. And it’s working.”
Industrial Developments International
Inc. has two speculative buildings coming
out of the ground now – one of two spec
buildings exceeding 600,000 square feet
being built in all of Southeast U.S. The
other main players in Memphis – Prologis Inc., Hillwood Investment Properties,
H&M Co. and Panattoni Development Co.
– all have sites ready to build.
“I think we will see some serious activity from those guys in the near future,”
Cates said, adding that the city’s investment market from large institutional buyers has really picked up speed.
Massive deals that have been executed
in the last 120 days include New Breed
Inc.’s 404,000 square feet, Teleflex Inc.’s
627,000 square feet, Five Below Inc.’s
605,000 square feet and Milwaukee Electric Tool Corp.’s 600,000-square-foot build
to suit with IDI.
Industrial challenges include the city’s
onerous, albeit improving, payment-inlieu-of-taxes (PILOT) program. Memphis
also has a very high turnover rate in its
workforce, with 10.2 percent of the city’s
employment in transportation, warehouse and logistics. Memphis suffers
from relatively high corporate taxes and
demographics for direct-to-consumer
businesses as well.
On the office front, Kelly Truitt of CB
Richard Ellis Memphis said vacancy rates,
both nationally and in Memphis, are
down.
“From an occupancy standpoint and,
conversely, a vacancy standpoint, Mem-
phis is little bit higher than our comparative cities,” Truitt said. “We got down to
about 12 percent when things were really
good and we’re back up to 14, and we’d
really like to be down below 11 percent.”
Average office asking lease rates in
Memphis during the third quarter were
$18.
Truitt predicted office trends in the
road ahead to include: “concerning” sublease inventory with many leases about
to roll into local statistics; construction to
start of at least one speculative medical
health care office building in the suburban
submarket; International Paper to increase
its presence in Memphis, including construction of a new build-to-suit building;
Raymond James Financial Services Inc. to
extend its lease at 50 N. Front St.; FedEx
to hold off on building in the short term
and absorb existing space; and Accredo/
Express Script to remain here, focused on
high touch/value-added pharmacy.
Meanwhile, Shawn Massey with The
Shopping Center Group LLC focused
on “the new normal” of the retail sector.
Memphis’ retail vacancy decreased to 9.1
percent in the third quarter, and the net
absorption rate is positive with 357,116
square feet. New construction starts total
302,413 square feet in the past four quarters.
Memphis lost a few retailers in recent
times, such as Easy Way’s original Downtown store, Super D, Schnucks and several
locations of Perkins & Marie Callendar’s
LLC and Back Yard Burgers.
However, a handful of gains offset the
losses. New retailers to enter the market include Chipotle, Pie-ology Pizzeria,
Mellow Mushroom, Planet Fitness, ULTA
Beauty, HomeGoods, Yogurt Mountain,
Panda Express, Cheddar’s and Bar Louie.
Expansions are also prevalent, as evidenced by Michael’s, Essex Bargain Hunt,
Gigi’s Cupcakes, Dixie Queen, Dunkin’
Donuts, Five Guys Burgers and Fries, and
Lululemon Athletica.
Dollar stores are gaining grocery
momentum as well. Fred’s is no longer
considered an inner city store but is setting
up shop in the suburbs.
And in the multifamily scene, Jimmy
Ringel of Makowsky Ringel Greenberg
briefed the crowd on how Memphis’ Class
A and B occupancy rates are similar to
national levels, but “Memphis likely has a
disproportionate share of C and C- properties and much lower occupancy, rent
growth and revenue than national levels.”
While it took the multifamily industry
about a year and a half to gain momentum
after the financial crash, the sector “is going to be stable, steady” moving forward.
November 9-15, 2012 13
POLITICS
Election Follows Script in County
BILL DRIES | The Memphis News
I
n Shelby County and Tennessee the
presidential race stuck to the script
both national campaigns expected.
President Barack Obama carried
Shelby County and Republican challenger
Mitt Romney took the state and its 11
electoral votes.
While that was expected because of
what has happened in Tennessee since
2000 and the large Democratic majority within Memphis, there were some
surprises.
Voter turnout in the most popular
election cycle among Shelby County
voters was 61.9 percent, about the same
percentage as four years ago. But the
371,256 voters is fewer than 2008 when
more than 400,000 Shelby County voters
cast ballots. The percentage is about the
same because there are fewer registered
voters in Shelby County than there were
four years ago after a long-delayed purge
by election officials.
Obama’s 232,201 votes in Shelby
County in the unofficial totals that are
still to be certified by the Shelby County
Election Commission compare to 255,680
votes four years ago.
And Romney’s 135,536 votes predominantly from the large Republican base
Obama carries Shelby
while Romney carries
Tennessee; Cohen
easily beats Flinn
outside Memphis compared to 145,248
votes for Republican nominee John McCain four years ago.
For most local partisans, the presidential race was about raising money for
and making phone calls to voters in swing
states.
The Republican nominee, for a second
consecutive presidential election was
someone other than the GOP contender
who carried Shelby County in the presidential primaries. Rick Santorum carried
Shelby County in the Republican presidential primary in March. In 2008, Mike
Huckabee carried Shelby County in the
primary.
Obama is two for two with Shelby
County Democrats. But there was a
disconnect between local Democrats and
the state party leaders as Democratic U.S.
Senate nominee Mark Clayton carried
Shelby County over Republican incumbent Bob Corker. Corker, nevertheless,
carried the state and won re-election to
another six-year term of office.
Clayton was disowned by state
Democratic Party officials, who stripped
A disease management
company focused exclusively
in the end stage renal disease
industry has immediate
him of any official party support for his
work with an anti-gay group considered a
hate group by the Southern Poverty Law
Center and party leaders. Clayton has also
claimed that Google is working against
him on behalf of the Chinese government.
The vote totals for Shelby County
showed the Senate race drew 23,237 fewer
voters than the presidential race.
The two tax hikes on the ballot – a
countywide sales tax hike and a city gas
tax hike – lost with the first belated early
voting returns.
The defeat of the countywide sales tax
hike means the sales tax hikes approved
in the August elections by each of the
six suburban towns and cities remain in
place with those municipalities not splitting their revenue with the larger county
including Memphis.
The suburban towns and cities took
another tentative step toward forming
municipal school districts funded by the
sales tax hikes Tuesday when they elected
school boards.
The boards are expected to take the
oaths of office around the first of next
month and immediately begin the processes of hiring superintendents by the
end of the year.
The moves toward separate school
districts all hinge on the ruling to come
from Memphis federal court Judge
Samuel “Hardy” Mays on whether the
state laws setting up those school districts
comply with or violate the Tennessee
Constitution.
Meanwhile, the countywide sales tax
hike may be back next year, which would
mean a special election in what is otherwise an off-election year.
Shelby County Mayor Mark Luttrell
opposed the timing of the tax hike ballot
questions more than the tax hike. He
wanted a referendum after the countywide school board set its budget for the
first year of the merger of city and county
schools starting in August.
The education reform group Stand
For Children mounted and financed a
campaign for the tax hike that was more
visible for longer than any other campaign on the ballot and estimated second
in financing to the effort of 9th District
Congressional challenger George Flinn.
The organization’s loss on the ballot
question comes after it backed several
winning candidates heavily in the August
races for countywide school board.
Flinn’s loss to Democratic incumbent
U.S. Rep. Steve Cohen was decisive, but
the 75 percent of the vote that Cohen took
in unofficial returns was less than the
nearly 90 percent total Cohen took in the
August primary race against challenger
Tomeka Hart.
The turnout in the primary was much
smaller than that of the Tuesday elections.
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14 November 9-15, 2012
sports
sports anal ysis
Tigers: Wake-Up Call Comes With
Preseason Scare Against CBU
DON WADE | Special to The Memphis News
Needing late run to edge Division II opponent proves Memphis has plenty of work to do
A
few weeks ago, an ESPN blogger asked University of Memphis
sophomore Adonis Thomas about
what the Tigers had learned from their
dreadful performance against Saint Louis
in last season’s NCAA Tournament loss.
Thomas replied: “Everybody has to
stay under control. Everybody has to stay
together. ... Everybody is more poised this
season. And everybody looks to be more
of a leader.”
Fast forward to one day before the
Tigers were to play Christian Brothers
University in an exhibition game. Junior
Tarik Black spoke about the “anxiety” of
waiting for the beginning of the season.
The Tigers couldn’t wait to get started.
“Everybody’s feeling it’s a special
year,” Black said.
In fact, they were feeling even more
confident after a successful and topsecret scrimmage a couple of days earlier
in Tuscaloosa, Ala., against the Crimson
Tide.
“A lot of energy,” Thomas said. “The
chemistry was good. Everybody was disciplined. A lot of carryover from practice.”
And then … it all went away.
As you surely must know by now, the
Tigers had to work way too hard to beat
CBU, 65-54, at FedExForum on Wednesday, Nov. 7. They were still tied with about
five minutes to play, which isn’t exactly
what you expect from a team with aspirations to make a deep NCAA Tournament
run.
Thomas and Chris Crawford were
to have been in the starting lineup, but
Coach Josh Pastner benched them because they were a few minutes late to a
film session.
“We’ve got really good guys,” Pastner
said. “I don’t want to make this a bigger
deal than it is.”
But at the one-for-all and all-for-one
team commitment level, it was a big deal.
The excuse/culprit: a literally long train
running through the U of M campus. So
this we know for sure: not even Adonis
Thomas is faster than a speeding locomotive.
“It won’t happen again,” Thomas said.
“Won’t ever happen again,” said
Crawford.
And that’s probably right. But there
are reasons for concern. Pastner and Antonio Barton looked to have a difference
of opinion on the Tigers’ bench. Pastner’s
fuzzy explanation: “An internal matter. I’m
just gonna keep it at that.”
That’s Pastner’s right, by the way, but
how is it that a player is already unhappy
in an exhibition game? All the “poise,”
“discipline” and “good chemistry” previously mentioned seemed pretty much
absent.
What remains is the one thing Black
had said the Tigers were ready to push
aside: the “anxiety” of waiting. Well, now
there is only anxiety in Tiger Nation as
everyone waits for the season-opener on
Monday, Nov. 12, at FedExForum against
Challenges Await New Grizzlies Owner Robert Pera
The professional sports
clock has its own idea of time. We were
reminded of this when NBA Commissioner David Stern came to Memphis
for the Grizzlies’ home opener Nov. 5,
which also served as a welcoming party
for new franchise chairman Robert Pera.
When Stern addressed the media
before the game, he started recalling his previous trips to Memphis. He
came here more than 12 years ago to
essentially “inspect” the city and The
Pyramid, to see if the old Pointed House
would do in the short-term before a new
arena could be built.
He returned for the beginning of the
Memphis Grizzlies Era, at The Pyramid,
and for the start of pro basketball at FedExForum, and for the playoffs. He even
praised the Grizzlies for the fine team
they had last season, remembering that
they “knocked off the Spurs.”
Well, he was a year late on that
one – it was two seasons ago that the
Grizzlies upset San Antonio in the first
round – but the commissioner’s mistake made clear that time flies when the
window of competitive opportunity is
ever-closing.
THE PRESS BOX
DON WADE
Ask the Oklahoma City Thunder.
Faced with the prospect of escalating
luxury tax penalties had they signed
James Harden to a lucrative long-term
deal, they dealt him to the Houston
Rockets just months after they made
the NBA Finals.
By the end of this season, if not
sooner, the Grizzlies’ new ownership
will have tough decisions to make about
the payroll here. Most of the money is
tied up in the so-called Core Four: small
forward Rudy Gay, center Marc Gasol,
power forward Zach Randolph and point
guard Mike Conley. The Grizz will need
to shed about $4 million in salary to
avoid paying a luxury tax penalty. Stern spoke breathlessly about the
current collective bargaining agreement
making it possible for small-market
teams to both compete on the court
and at the bank. In theory, the luxury tax
penalties will serve to keep big-market
teams in line – “the tax is going to be
high and potentially oppressive,” Stern
said – but small-market teams always
will have little margin for error.
As Stern said at another point, “It’s
about both managing the roster and
managing the business.”
Pera, 34, is founder and CEO of
Ubiquiti Networks in the Silicon Valley.
A former engineer for Apple, there is no
doubt that he has been an overachiever
– a great quality for the guy with the
largest stake in a small-market pro
sports franchise.
But all indications are that the
actual running of the team, on both the
basketball and business sides, will be in
the hands of Jason Levien. A good friend
of Pera’s, Levien is, among other things,
a former co-owner of the Philadelphia
76ers, a former executive with the Sacramento Kings and a past sports agent.
Two things Levien said this past
week stand out.
“It’s a zero-sum game in the NBA in
terms of wins and losses,” Levien noted,
and that was very good to hear.
“I don’t think we’ll draw a hard line
in the sand on how much we’ll spend,”
Levien said, and that at least leaves
open the option of paying luxury tax
penalties in a given year if Pera and
Levien believe the team is close to contending for a championship.
Now that’s a long way from any kind
of guarantee, true, but Pera’s agreement with local minority owners is that
the team remains in Memphis for a
minimum of 15 years. Robert Pera didn’t
achieve his current station in life by not
being competitive. Bottom line: There’s
a better chance Pera will spend more
to pursue a championship than what
previous owner Michael Heisley would
have spent.
“I’ll be the Grizzlies’ No. 1 super fan,”
Pera said.
A fan who surely understands that
winning, like everything else, comes at
a cost.
Don Wade’s column appears weekly
in The Daily News and The Memphis
News. He and Jon Albright host the Jon &
Don Show on Sports 56 AM and 87.7 FM
from 6 p.m. to 7 p.m. Tuesdays through
Thursdays.
November 9-15, 2012 15
sports
North Florida.
CBU knocked down 10 3-pointers on
the Tigers and how many times last season did Pastner preach that the 3-point
shot is college basketball’s great talent
equalizer, the first thing this team must
take away from opponents?
Pastner blamed the Tigers’ poor showing, at least in part, on “bad energy.” Like
“bad energy” is some kind of mysterious
virus. Granted, it’s the kind of thing NBA
players say all the time to explain noshow road efforts in places like Cleveland
and Charlotte on Monday nights. But in
theory, these Tigers are still college kids
eager to play, eager to prove they deserve
their Top 20 ranking and more, eager to
show they can play at the next level.
It’s tough to do that when an exhibition game against a Division II team is
partially derailed by a train and the bad
energy bug.
None of this has to mean the sky is
falling, of course, but it’s almost as though
the Tigers are determined to follow a reality show script – minus the cameras and
weekly time slot.
“This is a good wake-up call for us,”
Pastner said, referring to everything from
starters showing up late to a film session
to his team failing to defend the 3-point
shot.
He may be right. It’s also a line that
only works once.
Memphis
guard Chris
Crawford
(3) drives
to the basket against
Christian
Brothers
University
defenders
Trey Casey
(22) and
Michael
Drake (40)
during the
first half of
the Tigers’
65-54 win
over the
Bucs on
Nov. 7. The
Tigers
struggled
to beat
their Division II opponent.
AP Photo: Lance Murphey
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16 November 9-15, 2012
COV E R STO Ry
‘Let’s Do This’
NBA commissioner David Stern introduces new Memphis Grizzlies chairman Robert Pera, center, and new CEO Jason Levien to fans on opening night against the Utaz Jazz.
Robert Pera takes over as chairman of Memphis Grizzlies
T
here was just something about FedExForum. Something about touring the more than 800,000-squarefoot arena for the first time that
made him think it’s “just awesome,
being inside here.”
As Robert Pera continued
walking through the home arena for the Memphis
Grizzlies on his introductory visit, he at one point
turned to one of his best friends – Jason Levien, the
Grizzlies’ new CEO – and excitedly whispered: “I’m
sold. Let’s do this.”
Memphis likewise appears to be sold on the new
chairman and controlling owner of the Grizzlies, a
34-year-old communications technology company
CEO from California who’s been referred to in the
business press as the “Wireless Wonder.” After waving hello and taking a seat at his first press conference a few days ago, a crowd of fans, civic leaders
and team partners gave Pera and Levien a standing
ovation.
There’s already a Robert Pera parody Twitter
account, and even @FakeRobertPera couldn’t resist
basking in the love, tweeting after the press confer-
St o r y b y a n dy m e e k
ence: “So nice of everyone to embrace me like this
today. It’s the dawn of a #newPera.”
Pera’s $377 million deal to buy the Grizzlies was
signed in June and closed Oct. 29. Much of what
Memphis already knows about Pera comes from
what happened during the time span connecting
those two points. During that time, for example,
Pera and his lieutenants were busy – and, for a lot of
that time, were canvassing Memphis. To calm fears
about the team’s future, Pera and his associates went
on a kind of listening tour around the city, breaking
bread and meeting in private with potential partners
and civic and business leaders.
They toured local assets like St. Jude Children’s
Research Hospital. During the one-on-one’s and
small group meetings, Pera’s associates often solicited general thoughts about the team and asked about
other spots in the city to visit and other people who
might be worth talking to. Those visits also showed
them that word gets around fast here. As the “listening tour” unfolded, Pera’s crew at times would show
up to their visits with the subject already knowing
much of what they were going to be asked.
Meanwhile, Pera and his guys also hand-picked
more than two dozen partners – including celebrities, moneymen and business leaders with strong
local ties – to comprise the Grizzlies’ new ownership
group. And while all that was going on, of course,
Pera – the founder and CEO of Ubiquiti Networks
Inc. – also had a company to run.
All of which is to say that Memphis and Grizzlies
fans have been able to learn a little about the team’s
new owner these past few months. Based on what
Pera already has done as it relates to basketball as
well as to the rarefied world of Silicon Valley from
which he comes, here are some important qualities
of the basketball- and technology-loving CEO that
already can be established:
He’s both brilliant, and ambitious.
A bit of editorializing, perhaps. But let’s take a
look at this first one of a few assumptions.
Pera got his bachelor’s and master’s degrees in
electrical engineering from the University of California-San Diego, where he also studied the Japanese
language. He also studied for a time in Tokyo at the
Japanese Language Institute.
He later worked for two years at Apple Inc.,
where he was a hardware engineer.
November 9-15, 2012 17
Apple was known for its culture of
excellence within the organization at the
time Pera was there, when it was led by
the late Steve Jobs. So, his hiring alone at
Apple may offer one clue as to Pera’s abilities and intellect. Listen to Jobs explain his
thoughts on hiring to Walter Isaacson in
the authorized Jobs biography:
“For most things in life, the range between best and average is 30 percent or so.
The best airplane flight, the best meal, they
may be 30 percent better than your average
one. What I saw with (Apple co-founder
Steve Wozniak) was somebody who was
fifty times better than the average engineer. He could have meetings in his head.
The Mac team was an attempt to build a
whole team like that, A players.”
Now let’s come back to Pera. Taking
Pera at his word, how much talent and
ambition does a person have to have to feel
that, even at a place like Apple, they’re not
being used to their full potential? Because
“
I was the last man on the
bench. I knew I couldn’t do
a lot and wouldn’t get the
opportunity to, but I could
do a lot more on my own.”
– Robert Pera
Chairman, Memphis Grizzlies
that’s apparently how the new Grizzlies
owner felt.
“I was the last man on the bench,” Pera
said of his time at Apple. “I knew I couldn’t
do a lot and wouldn’t get the opportunity
to, but I could do a lot more on my own.”
Speaking of being on his own, what
Pera has done with Ubiquiti is reflective
of how he’s likely to lead the Grizzlies.
He runs a technology company, so no
surprise Pera has been saying in recent
days he’d like to bring more of a technological edge to FedExForum and a metricsdriven, Moneyball-esque approach to
evaluating players.
Through Ubiquiti, Pera is attempting to disrupt a marketplace, break down
barriers, empower engineers and connect
millions of people around the world.
Here’s a revealing story about Pera and
his company. At an industry conference
earlier this year, Ubiquiti’s chief financial
officer John Ritchie told a story about the
company’s early days and about how the
San Jose, Calif.-based company got its first
dose of capital.
Pera had been at Apple for two years,
and after he left he developed something
called an embedded radio card. He went to
a trade show after developing the product
and began taking customer orders for it. At
some point, Pera went back to his customers to tell them he appreciated their interest in his product, but he had to explain to
them, basically, that he had no money.
“So if you want your product,” Pera told
them, “you’re going to have to pay for it up
front.”
That’s how Ubiquiti got started. Pera
apparently was enough of a salesman to
convince his first customers to pay up
front. According to Ritchie, he later went to
Taiwan and lined up contract manufacturers.
“And, literally, from that point through
2010, the company took no external capital,” Ritchie said. “It’s kind of a quintessential Valley startup story. Young engineer
leaves a big company (to start a new one).
Funds the whole thing himself. And he
takes the company public in 2011.”
Pera said this week that when he looks
at Memphis, and its pro basketball team,
he gets a feeling like the one he got when
he started Ubiquiti, where he said he’s
been about “recruiting great engineers and
empowering them.”
Ubiquiti, he said, also is about creating
great things, such as technology that “has
broken down barriers and connected millions of people in underserved areas across
the world.”
“I want to inspire people,” Pera said
this week. “Ubiquiti is about changing the
world.”
Pera, in other words, doesn’t play small
ball.
Finally, he won’t be a Mark Cuban type
of owner with the Grizzlies – but he’ll be a
“superfan” in his own way.
Pera said as much this week.
“I’ll be here as much as I can,” he said,
about his future game attendance, adding that he’s passionate about branding
and marketing. “I’ll be the No. 1 Grizzlies
Superfan.”
He’s chosen a CEO, Levien, who will
run the day-to-day, and Pera will be
involved at a high level. Pera described
Levien as a cross between Jerry Maguire
and Ari Emanuel, the turbo-charged, fasttalking Hollywood super-agent on which
Jeremy Piven’s character from the TV series
“Entourage” is based.
Recently, Levien was a co-owner of the
Philadelphia 76ers basketball team. Counting Pera and Levien as his new right-hand
man, the new Grizzlies ownership includes
two dozen partners.
“This ownership group will take the
Grizzlies to the next level,” said Edward
Dobbs, one of the new partners who’s also
CEO of Memphis-based Dobbs Management Service. “Our team is going to thrive
in Memphis for a long time.”
Levien described himself as “best buddies” with former Memphis congressman
Harold Ford Jr., who also is among the new
minority partners in the Grizzlies. At Ford’s
wedding, Levien also met local businessman Billy Orgel, another Grizzlies partner.
Steve Kaplan, a principal and portfolio
manager at Oaktree Capital Management
LLC, is the Grizzlies’ new vice-chairman.
The full group of limited partners met at
fellow Grizzlies partner and AutoZone
founder J.R. “Pitt” Hyde’s home Sunday
night.
Having said all that, with an eye toward
what’s to come, Grizzlies center Marc Gasol
perhaps best summed up the feelings of
the team’s legion of fans when he tweeted
earlier in the week: “Welcome Robert Pera
to our family and the city of Memphis. Blue
collar team in a blue collar city! #OneTeamOneGoal.”
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18 November 9-15, 2012
special coverage
special emphasis: financial services
PLANNING FOR THE FUTURE
Memphis-based First Horizon prepares for changing industry
Robin Holcomb
monitors a high
speed mail extractor in the
operations center
for First Horizon
National Corp.,
parent company
of First Tennessee
Bank. The machine
can handle 10,000
pieces of mail per
hour.
A
few months ago, CNBC
broadcaster Jim “Mad Money”
Cramer all but reached up
to the TV screen on his set to
high-five Bryan Jordan, president, CEO and chairman of
First Horizon National Corp.,
whose image was there via
satellite.
Cramer has been bullish on First Horizon and its regional banking unit First
Tennessee Bank for a while now.
During segments when he talks about
regional banking, Cramer frequently
brings in Jordan to talk about First Horizon as a poster child for the category, and
on this particular show, Cramer had just
run through a laundry list of everything
he thinks the Memphis-based bank is
doing right.
“Your stock is just way too cheap. It
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November 9-15, 2012 19
special coverage
makes no sense to me, sir,” Cramer told
Jordan.
Of course, there are bigger forces at
work. Banks, in general, aren’t something
the average investor is racing to get their
broker on the phone for.
It was a tough business during the
recession, and it’s still a tough business
now.
Interest rates are low and are staying that way for a few more years. Loan
demand is hovering somewhere between
middling and weak. And regulatory bodies have not slowed down in carving away
at areas of profit for banks, including
clamping down on certain fees.
But it’s not just Cramer. There it was,
a few weeks ago after First Horizon’s most
recent quarterly earnings announcement.
This is how Kevin Reynolds, a bank
analyst with Memphis-based Wunderlich
Securities Inc., put it in a commentary he
released to clients:
“Investors should own (First Horizon)
shares after this pretty solid quarter,”
Reynolds wrote.
After years of overexpansion during
the housing boom and a sharp coursecorrection that got under way before the
worst of the bust took hold, the clouds
still haven’t yet parted for First Horizon,
parent of the largest bank based in Tennessee.
But the First Tennessee/First Horizon
story is squarely in a new phase.
The bank is preparing for a future it
cannot predict, for realities that bring
high stakes but which aren’t largely
foreseeable, by taking cautious steps that
have high option value.
It’s why, for example, the bank a few
weeks ago extended voluntary buyout offers to 400 employees.
First Horizon’s chief human resources
officer John Daniel told The Daily News
that anyone who’s followed the First
Horizon story will know it has reduced
expenses significantly in recent years,
which is true.
Since 2007 and 2008, First Horizon has
been “cleaning up the mess left by its outof-state expansion and refocusing on its
home market,” according to Morningstar
Inc. analyst Maclovio Pina.
The company sold its national mortgage platform and has been liquidating
its lending activities outside of Tennessee,
Pina continued.
Behind the scenes, First Horizon has
been making $100 million in technology
improvements, according to chief financial officer William Losch.
“When we started reinvesting in technology for our core banking business in
earnest in 2009, we had not invested in it
strongly since 2000,” Losch said.
So, the effort was first to get the bank
up to par, and then to make it more efficient. As to the recent buyouts, they were
directed to the back office in operational
– non-customer facing – areas like finance
and human relations.
And it’s a targeted effort. In Losch’s
words, the company tries to “measure
twice and cut once.”
First Horizon’s leadership has long
said, and continues to say, they’ll pull the
trigger on acquisitions when they find
the right deal. That could be sooner than
later.
According to data from Wunderlich,
the industry is over-banked. There are
almost 2,400 banks headquartered in the
South with assets of less than $1 billion.
Of those, more than 40 percent have CEOs
older than age 60.
Reynolds said that First Horizon could
participate in some degree of mergerand-acquisition activity in the next
few years because of increased capital
requirements coming to the industry,
a heavier regulatory burden, a slowing
economy and low interest rate environment.
“We’re evolving the company back
toward our roots,” Losch said.
“We’re right-sizing it. The industry
has fundamentally changed. Now, for
example, we have the Durbin amendment, through which the fees we gather
on debit card transactions were materially
reduced, which squeezes our margins. We
also remain in a low interest rate environment.
“We can’t control the rate environ-
ment or regulators. But we can control
how to improve, and which of our businesses to invest in.”
And that includes where to invest.
The Nashville area is the only major area
in Tennessee where the company doesn’t
have a dominant market share.
Losch said the company has over the
past three years grown its deposits 55
percent in the Nashville area.
It’s hired several bankers and picked
up some new ones recently, and it has a
goal of banking large health care clients in
Nashville.
20 November 9-15, 2012
s p e c i a l e m p h a s i s : FINANCIAL SERVICES
Optimism Starting to Abound in Industry
City’s financial companies cling to mantra of “Getting Better all the Time” as mood brightens
H
ere’s a look at what’s going on
in the world of finance, and the
ways it’s all affecting Memphis.
First up, to quote the Bard, “But
soft: what light through yonder window
breaks?”Is it a recovery? An improving
economy? The chief executive of one
Memphis-based investment firm told The
Daily News in recent days he’s crossing
his fingers that a deal he’s got in the works
is coming together in a month or two.
Likewise, optimism abounded in a recent
newsletter to clients at another investment firm.
The principals of Kelman-Lazarov Inc.
headlined their letter “Getting Better all
the Time.”
“I’ve made it a point to ask many of
you,” they wrote, “as well as other friends
and acquaintances, how your businesses
are doing. It has been encouraging to hear
the vast majority say that over the last
three to four months, business has actually improved. Some have even told me
that the past two years have been good to
excellent!
“Of course, during 2009-10, the
responses were quite the contrary, so it
seems from my limited survey that the
economy is improving, slowly but surely.
Regardless, many of those same people
remain wary of the financial markets,
especially the stock market. But let’s take
a closer look. As bad as the stock markets
of 2008 and 2009 were, the S&P 500 since
then has risen over 100% from the low
point. The reality is that the markets have
done very well since the decline a few
years ago.”
Meanwhile, Tennessee banks receiving capital through the Small Business
Lending Fund have increased their smallbusiness lending by $275.1 million over
their baselines, according to a new report
from the U.S. Department of Treasury.
The SBLF, established as part of the
Small Business Jobs Act that President
Barack Obama signed into law in 2010,
encourages community banks to increase their lending to small businesses.
Through the fund, the Treasury Department invested more than $4 billion in 332
institutions that operate in more than
3,000 locations across 48 states.
Not everyone, of course, is on the
same page as to the way the recovery
should be handled from a regulatory
point of view. U.S. Sen. Bob Corker, RTenn., is a member of the Senate Banking
Committee. He recently sent a letter to
Federal Reserve Gov. Daniel Tarullo, who
voted for the Fed’s latest effort to stimulate the economy.
Corker’s letter, according to his office, argued that “activism at the Federal
Reserve and flawed mortgage rules being
written in accordance with the DoddFrank Act are counterproductive.” Jim
Bullard, president of the Federal Reserve
Bank of St. Louis, was in Memphis a few
weeks ago to make a presentation and
got one big applause line: he made a joke
that combined new capital standards for
banks and a Mayan prophesy about the
end of the world.
Those new capital standards are part
of the international Basel III capital agree-
ment. To be clear: Bullard doesn’t support
them as they relate to smaller banks.
State banking regulators and some
congressional lawmakers want to separate community banks from some of the
requirements to hold more capital that
they believe are better suited to larger
institutions. To that end, in recent days
the Independent Community Bankers of
America announced that nearly 15,000
community bankers and their allies have
signed a petition calling on banking regulators to exempt community banks from
the proposed Basel III capital regulations.
November 9-15, 2012 21
Wells Fargo & Co. Survey: Retirement Picture
Looks Grim for One Third of US Population
andy meek | The Memphis News
I
f a Wells Fargo & Co. survey is any
indication, there’s no way to sugarcoat
it:
The retirement years look bleak for a
large swath of the U.S. population. Take
the fact that, according to the survey,
more than one-third of respondents
might find themselves living close to
poverty in their golden years. Those 34
percent expect their retirement income to
be half of their current income.
And based on the U.S. Census Bureau
median household income, that equates
to $25,000 – which, for a family of four, is
close to the poverty line.
“We’ve got to marshal our resources as
a country, an industry and as individuals
to deal with the issues creating this cliff,”
Joe Ready, director of Wells Fargo Institutional Retirement and Trust, said in a
press release.
For the survey, Wells Fargo commissioned Harris Interactive Inc., a custom
market research firm, to conduct 1,000
telephone interviews of middle-class
Americans in their 20s, 30s, 40s, 50s, 60s
and between ages 70 and 75. The calls
were made between July 9 and Sept. 12,
and they surveyed attitudes and behaviors around planning, saving and investing for retirement.
Among the survey’s highlights, 30
percent of respondents said they expect
they’ll need to “work until at least 80”
to be able to live comfortably in retirement. But 73 percent said their employer
wouldn’t want them to work at that age.
Meanwhile, underscoring the severity of the recession and how it’s left in its
wake the financial version of a Darwinian struggle to survive, almost half of the
survey’s respondents who don’t have a
written retirement plan say they’re too
focused on the now, on things like paying
bills.
The number of people who said
they’d be willing to accept a reduction in
entitlement programs like Social Security
or Medicare to help fix the country’s debt
problems has fallen to 37 percent from 43
percent in 2011.
There’s also a gender divergence. Forty-four percent of men said they’d accept
that reduction because of the country’s
debt, while 26 percent of women would
agree to Social Security or Medicare
reductions.
“We feel it is very important to keep
shining the light on this issue,” Ready
said. “People say they’ll work longer, but
how possible will this be for millions of
Americans?”
People don’t trust the stock market
when it comes to their retirement funds,
according to the survey. If given $5,000 to
invest for retirement, 40 percent would
put the money in a certificate of deposit
or a savings account. Twenty-four percent
would invest in stocks, and 22 percent
Many retirees won’t
have as much money
as they thought
would invest in commodities like gold or
precious metals.
The distrust of stocks becomes more
pronounced as the survey’s respondents
get younger. It found that 37 percent of
respondents in their 30s would invest
in the market, while only 18 percent of
respondents between 25 and 29 would do
so. Political affiliation also matters in the
survey answers.
Take attitudes toward 401(k) retirement plans. Most respondents said
employers should give workers advice
to help them manage their retirement
savings. Of those who support giving the
advice, more of them identify as Democrats than Republicans.
Sixty percent of respondents said
retirement plans should automatically
increase contribution rates by 1 percent
each year. Again, more of the people in
that 60 percent identified themselves as
Democrats instead of Republicans.
22 November 9-15, 2012
Mortgage Market Sees Gain in Third Quarter
Banks produce 25 percent more purchase mortgages in Shelby County between July and September
W
ith the Federal Reserve taking
steps to keep financing costs
at extreme lows across the
economy, it’s probably not surprising to
hear an economist say he’s getting an
earful from community banks and credit
unions around the country.
Chris Low, chief economist of FTN
Financial, a division of First Tennessee
Bank, said during his most recent market
update for clients, investors and analysts
that those bankers keep telling him they
can hardly make any money on mortgages these days.
When rates fall, of course, lenders
could try making even more mortgages
to offset that, and that’s what some banks
and mortgage lenders appear to be doing
– at least in the Memphis area. During
the third quarter of 2012, total mortgage
lending volume was up 25 percent in
Shelby County, according to real estate
information company Chandler Reports,
www.chandlerreports.com.
At the moment, low interest rates –
At the moment, low interest
rates – which earlier this
month fell to a record
low of 3.36 percent for a
30-year mortgage – are
not surprisingly fueling a
refinance boom. Beyond
that, the data can be a little
noisy and make it tricky to
put the quarterly numbers
into context.
which earlier this month fell to a record
low of 3.36 percent for a 30-year mortgage
– are not surprisingly fueling a refinance
boom. Beyond that, the data can be a
little noisy and make it tricky to put the
quarterly numbers into context.
Speaking to reporters after he gave
a speech in Memphis in recent days, for
example, Federal Reserve Bank of St.
Louis president Jim Bullard described
loan demand in the area as “soft.” Also, “a
lot of the banks are in fairly weak condition,” he added, speaking broadly about
the regional Fed district that includes
Memphis. The Fed’s recently announced
QE3 program is intended in part to juice
the housing market by lowering mortgage
rates. The announcement of the program was made only a month ago, and
it’s generally understood that its effects
haven’t had time to trickle throughout the
economy yet.
Which means time will tell if the local
housing market sees a noticeable pickup
because of any corresponding drop in
Graphic: Shutterstock
rates or because of a sustained period of
low rates. For now, total mortgage volume
during the third quarter rose from a little
more than $300 million in the third quarter last year to almost $376 million in the
third quarter this year.
Data for this report included purchase
mortgages only, not refinances.
During the third quarter, banks and
mortgage lenders in Shelby County made
2,364 purchase mortgages, up 20 percent
from the 1,971 mortgages during the
third quarter of 2011, according to the
Chandler numbers. Lenders who notched
gains in the number of mortgages they
made during the third quarter this year
included Magna Bank (from 132 to 183),
Iberiabank Mortgage Co. (from 85 to 114)
and Patriot Bank (from 105 to 110). Community Mortgage Corp. topped the list of
the county’s busiest lenders, growing its
total volume quarter over quarter from
about $35.5 million to a little more than
$36 million, according to the data.
As time goes by, it should be noted, it’s
unclear where the numbers will head, according to some watchers. Not all banks,
for example, will step up their mortgage
activity, because they simply can’t handle
it. Capacity, by its very nature, involves
limits, and banks can’t take in more mortgage activity than they can handle. Low
alluded to that point in his comments.
“There have been a couple of articles
written suggesting mortgage rates haven’t
come down as much as yields on mortgage-backed securities, and because of
that, mortgage underwriters are printing
bigger profits on these deals than they
have in the past,” Low said.
Banks and lenders also have to be
careful about aggressively extending low
rate-fueled mortgage loans to certain
buyers, because it could potentially encourage a flood of the same activity partly
to blame for the run-up in housing prior
to the bubble bursting a few years ago.
From the Fed’s most recent “Beige
book” summary of local economic activity: “Residential real estate market conditions have continued to improve moderately” in the Federal Reserve’s district that
includes Memphis.
Chandler Reports is a division of The
Daily News Publishing Co. Inc.
November 9-15, 2012 23
s p e c i a l e m p h a s i s : SMALL- B U SINESS SP O T LI G H T: FINANCIAL SERVICES
First South’s Goal: Treat Members Well
JONATHAN DEVIN | Special to The Memphis News
N
ice guys may finish last, but nice
financial institutions
grow steadily over time. First
South Financial Credit Union
stays competitive by reacting
quickly and treating members
well.
“I think for us there’s plenty
of room for us to grow,” said
Delynn Byars, senior vice
president of marketing for
First South. “When you look
at surveys by the American
Bankers Association, by GalPhoto: Lance Murphey
lup, by other organizations,
unfortunately there are a lot of First South Financial Credit Union’s Cordova branch is at 1575 N. Germantown Parkway.
financial institutions, but not
and four in North Mississippi. There
Credit unions are also structured so
a lot of them are doing a very good job
are 13 branches in Shelby County, one
that account holders are part owners
taking care of their customers.”
of which is the financial service for the
of the credit union, not just customers.
Byars noted surveys in which major,
University of Memphis.
First South offers in-house mortgage
nationwide banks like Bank of America
The campus branch, Byars said, is
loans without fees or closing costs, and
scored poorly on questions like “How
often the first bank account students
likely are you to recommend the bank to which are not sold off to other financial
ever have. To that end, First South has
institutions. First South does work with
a friend?” First South’s scores have been
unveiled in the last month its Fresh Start
secondary lenders for customers who
75 percent or more in the positive. Part
Saver Loan, intended for people who
need different loan products, but Byars
of that, she said, comes from a sense of
need to develop credit or repair damsaid they vet their partners carefully.
membership that is innate in the credit
aged credit. The loans, usually about
“We offer (those customers) the
union model.
$2,000, are placed in a savings account
same level of service,” Byars said. “We’re
Credit Unions are not-for-profit
and secured against the loan. Payments
always going to be sure that people get
financial institutions, which typically
are made at a set rate for a 12-month
into the mortgage that’s the best fit for
are established to serve members of a
term and the credit union reports the
particular field. First South was founded them, not what makes us or the loan ofin 1957 as Navy Memphis Federal Credit ficer the most money. We don’t compen- payments to credit bureaus.
Currently, the credit union has $430
sate our lending officers that way.”
Union to work with Navy personnel stamillion in assets, 50,000 members and
The result has been a steady flow of
tioned in Millington. Naval activities at
105 employees. As yet, First South does
new mortgages in their pipeline, even
bases across the country were realigned
not offer commercial loans, but Byars
through the last years of uncertainty in
and so in the early 1990s First South
said that may change in 2013.
the housing market.
expanded its membership.
First South has an all-volunteer
“It’s like the dam has broken, at least
“We had already been actively workboard of directors and senior manfor us,” Byars said. “We’ve been putting
ing to expand our reach beyond the
agement remains small and centrally
our mortgage department through their
base personnel,” Byars said. “We had
located.
paces for sure. We’ve also been lucky
quite a few companies that we worked
“We’re very quick and we’re very
because we are a fairly conservative
with and still do to this day. We knew
lender. We just didn’t have a ton of loans nimble,” Byars said. “Our senior manthat the realignment was coming.
agement is here in one building. We can
that we had to go through and rework
“A lot of credit unions did that much
make a decision and go forward at a
when the recession hit.”
later on when community charters beCurrently, First South has a presence very rapid pace.”
came available and then credit unions
in 10 counties, six in West Tennessee,
could serve an entire county.”
If you think banking should be personalized, pleasant
and productive, I agree with you.
Let me show you how we can make banking your
most productive business relationship.
Andrea Gladney
Vice President and Loan Officer
Morgan Keegan Tower
50 North Front Street
901-432-7300
[email protected]
NMLS # 745078
Midtown
2000 Union Avenue
901-272-7300
Downtown
50 North Front Street
901-432-7300
East Memphis
510 South Mendenhall Road
901-888-2265
The Timeless Art
Of Persuasion
Persuasion involves providing
sound reasons for doing something and getting others to take action on your request.
Sales professionals use persuasion to sell
products, medical professionals use persuasion to sell healthy lifestyle choices, managers
use persuasion to sell ideas, parents use persuasion (but often default to the old standard,
“Because I said so!”) to get their children to
do things. In other
words, most of
us frequently
find ourselves in
situations that call
for us to persuade
others of somechris cRouch thing.
SMART STUFF
Yet most of us
4 WORK
have had little or
no formal training in the process of successfully persuading others. Of my 17 years of
formal education, the closest I got to any kind
of persuasion training was during a speech
course in college. We were required to prepare
and deliver a five-minute persuasive speech.
It was the 1970s and my assignment was to
persuade my classmates not to smoke marijuana – a challenging assignment in that era,
to say the least. I got a decent grade on the
speech from my straight-laced, nerdy speech
professor and a lot of chuckles from the pot
smokers in the class. I doubt if anyone flushed
his or her stash because of my dazzling gradeA rhetoric. Cheech and Chong apparently
provided much more convincing arguments
on the pro side countering any and all of my
cons. Five minutes out of 17 years; not what
you might call comprehensive coverage of
the topic. More than 2000 years ago Aristotle
articulated some pretty sound ideas related
to persuading others with his ethos, logos,
pathos model. He referred to these three techniques as modes of persuasion. In a nutshell,
you do things to establish your credibility as a
speaker (ethos), things to appeal to your audience’s sense of logic (logos) and then appeal
to or stir their emotions (pathos).
Translated into practical action, that
would be do your homework (know your
topic, product, cause, etc.), make specific and
compelling logical connections illustrating
why your audience should take action on your
request, and relate your request to something
the audience feels strongly about experiencing or avoiding. Use one of these modes of
persuasion; you increase the odds that you
will successfully persuade others. Use all three
and maximize your chances of success. It
seems that ethos and logos do a pretty good
job of getting someone up to the edge of making a decision, but pathos seems to trigger the
tipping-point-moment for deciders. Who knew
the deciding structures of the brain were more
like Dr. McCoy than Mr. Spock?
Think about the three modes of persuasion when you set out to persuade someone
of something. Establish your credibility,
explain your logic, make the connection to
something you know your audience wants to
happen or wants to avoid happening, and then
switch to the standard sales model for getting
a decision: Ask for the order and then use the
silent closing technique – be quiet.
Or, if none of this makes sense to you, try
saying, “Because I said so!”
Chris Crouch is CEO of DME Training and
Consulting.
24 November 9-15, 2012
Tayloe Brings Knowledge, Energy to Financial Federal Board
RICHARD J. ALLEY | Special to The Memphis News
A
t the age of 34, William Tayloe became the youngest president in the
27-year history of Financial Federal
Savings Bank. Now, at 39, he has been
named to the bank’s
board of directors.
Financial Federal
has a strong base in
real estate banking,
a natural for Tayloe,
whose family is wellknown in the area
real estate market. He
began as a loan officer
and, like so many of
the other employees
of the bank, has worn
many hats over the
years.
tayloe
“When I was looking around, Financial
Federal had a pretty successful business
and was a highly respected lender,” Tayloe
said. “In particular in real estate, both
residential and commercial, so that was
probably what was attractive to me.”
He was named president in 2008, an
inauspicious year for business in general
and for the banking industry specifically.
Tayloe endured a trial by fire, leaning on the knowledge base of the many
veteran employees, mentors such as Kent
Wunderlich, shareholders, quality customers and, of course, “a strong capital
base, a good foundation,” Tayloe said.
“I think he’s done
extremely well,” said
Wunderlich, who is
chairman of the board
and general counsel for
Financial Federal.
“I think every bank
had some concerns in
2008, some things that
we’d never seen before
and we all had to adjust
somewhat, and it took
a lot of thought, a lot of
energy, a lot of organization to keep moving
on.”
“The last five years
has been a pretty interesting time to be in
the banking business,” Tayloe said.
Locally owned and operated, Financial Federal draws its clients from the
worlds of small business and professionals within the community, and has assets
of $325 million and deposits of $225
million.
By keeping its customer base close
and employees accessible, Tayloe said,
they’ve been able to overcome the challenges and “to continue, and to expand
upon the success that we’ve had here”
even in the post-recession climate of
excessive regulation and strong competition.
The appointment to the board of
directors hasn’t changed what he does
on a daily basis, but it has added an extra
depth of responsibility for him among
the board, which is “not large, but is very
effective,” Tayloe said.
“It’s made up of individuals who have had
very successful business careers and to be
a part of that, I was certainly honored to
be elected.”
Expanding the small board of five is
one advantage to the addition of Tayloe,
while another is “his knowledge of the
bank and the banking industry,” Wunderlich said, adding with a laugh, “plus his
youth will help the board. We have some
maturity on our board, so youth is important, he’s up to date with what’s going on
in a different section of the community …
he’s out in the community, he’s active in
things outside the bank.”
Tayloe has had a whirlwind career so
far in banking, yet continues to look to the
future and continuing in the culture that
has made Financial Federal so successful
and respected around the Memphis area.
The bank is looking toward growth and
expansion on certain services and products offered, such as checking accounts,
and looking into C&I lending.
“There’s a lot of opportunity and we
want to make sure that we can capitalize
on that,” Tayloe said.
“We’re concentrating on technology
quite a bit, and think that’s an area where
we can add a lot of value to our customer
and to the bank.”
Within the banking world and without, Tayloe has learned to wear, and to
be comfortable in, many hats. From loan
officer to president to sitting on the board
of directors, he has gained the knowledge
necessary to maintain the trust of clients
and grow their assets.
As a husband to Kimberly and a father
to 8-year-old triplets – two boys, one girl
– he has learned the delicate balance of
work and family, the foundation of any
community.
“Most of what we do here is based
on relationships, it’s relationship banking and I think that’s appealing to our
customers,” Tayloe said. “It’s nice to know
who you’re doing business with, as a
banker and as a customer, and that’s what
we try to do.”
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t r i um p hb a nk . co m • ( 9 0 1 ) 3 3 3 -8 8 0 0 • M e m p h i s • G e r m antow n • Co l l i e r v i l l e • Ar l i n g to n
November 9-15, 2012 25
news
LEA D ERSHIP
LA W & T HE C O U R T S
Portrait Unveiling
Scheduled for
Longtime Judge
G
Memphis News File Photo: Lance Murphey
College and graduate students take a session on conflict management taught by John Daniel, executive vice president of human resources for First Horizon National Corp. at the First Tennessee Ron Terry Center. The session is part of Memphis – The
Summer Experience presented by the New Memphis Institute, formerly known as the Leadership Academy.
New Identity
Leadership Academy forges ahead as New Memphis Institute
E
very great person, every great
organization and every great city
is trying to be better today than
they were yesterday.
That’s how Nancy Coffee puts it in
describing the motivation behind the
new name that’s been chosen for the
nonprofit group she’s the president and
CEO of – the New Memphis Institute,
which used to be known as the Leadership Academy.
It was a big branding leap for the
organization, which has been thinking
about a new name for some two years
now. The change was about better telling its story and reflecting its purpose.
Included in the New Memphis Institute’s aspirations is the goal of shining a
light on positive aspects of the city. And
along those lines, the group’s first major
public event since the name change
will come Wednesday, Nov. 7, when the
group presents another in its series of
“Celebrate What’s Right” luncheons.
The group is billing the luncheon’s
focus as “Memphis’ next golden age of
entrepreneurship.” It will include a conversation moderated by J.R. “Pitt” Hyde,
the founder of AutoZone Inc. and an
active philanthropist in Memphis, and
a panel that takes a look at three startup
companies launching groundbreaking
ideas in Memphis. Also part of the mix
will be a look at the implications for job
creation and talent retention.
So, the group now has a new name,
but as the luncheon demonstrates, it’s
in service of more of the same.
As it did when it was known as the
Leadership Academy, the New Memphis Institute will continue to focus
on forging a prosperous and vital new
Memphis, Coffee said, by recruiting,
developing, activating and retaining
talent.
“We believe our community grows
based on what we pay attention to,”
Coffee said. “So we lift up the elements
of our city that make us proud to live
and work here. And certainly our legacy
of entrepreneurship is a major component of that, as is our very bright future
in turning ideas into growth businesses.”
The luncheon is being sponsored
by CBRE Memphis. Panelists include
Ben Tempel, a graduate of the New
Memphis Institute’s Fellows program
and CEO of Nanophthalmics, a company that’s creating microscopic tools
for ocular surgery; Charleson Bell,
co-founder of BioNanovations; Mike
Hoffmeyer, CEO of Paytopia, a new
ecommerce payment platform; Joann
Massey, business development consultant for the state of Tennessee Depart-
ment of Economic and Community
Development; and Brad Smith, interim
executive director of Launch Tennessee.
Hyde also will give remarks. Among
other philanthropic and civic causes he
continues to be involved in around the
city, he is one of the limited partners
comprising the new ownership group
of the Memphis Grizzlies. And he was
present at a press conference Monday,
Nov. 5, at which the team’s new owners
were introduced to the city.
Meanwhile, the luncheon is but one
example of the fact the New Memphis
Institute would like to continue being a
talent engine for the city of Memphis.
It was born out of the 1979 Memphis Jobs Conference and has been
working to advance the city in various
ways for several decades. It counts
more than 700 established executives in
the city as alumni of its training.
Among other facts about the organization, 10 of its “Fellows” were appointed to government roles in 2011.
“We remain as dedicated as ever to
our path of improving Memphis and
helping our city reach its full potential,”
Coffee said. “Our verve and passion for
that work, we think, is really reflected in
the new name. It embodies that restless
desire we have to see our community
live up to what it is and what it can be.”
eorge Brown, who graduated from
Booker T. Washington in 1956,
grew up in a Memphis that still
was years away from stamping out the last
vestiges of segregation.
It’s a starting point that makes the arc
of his life and career all the more remarkable. From that beginning, Brown went
on to become a pillar in the city’s legal
community. He’s a retired Shelby County
Circuit Court judge, and he was the first
black justice on the Tennessee Supreme
Court. And he’s still working today, both in
private business as well as in legal circles.
Next week, he’ll be joined by some
of his old school friends and lawyers
from around the city to mark a symbolic
milestone in his life: A ceremony to unveil
Brown’s official portrait will be held Nov.
15 in the lobby of Downtown’s Brinkley
Plaza. The ceremony is scheduled for 4
p.m.
There’s a tendency to mark awards
like this as “lifetime achievement” kinds
of honors, given when one is closer to the
end of a career than the beginning. And
even Brown slips into the past tense here
and there. But he quickly corrects himself.
“I began my life here in Memphis in
the throes of segregation, and as I reflect
back, I’ve had – well, I’m having a wonderful life and a wonderful career,” Brown
said. “And more importantly, I have been
honored by the citizens of Memphis and
my peers to have an extensive public
service career as well as an extensive professional career. So it’s humbling, really.
I’m glad I’ve been able to serve my fellow
man in various capacities. I’ve tried to be
an inspiration for others to follow in the
same path.”
Brown was a Circuit Court judge from
1983 to 2005. He also was one of the first
executive directors of Memphis Area Legal
Services. Since his retirement, he hasn’t
lived the life of a retiree. He’s still participating in mediation and arbitration cases,
and he travels frequently because of that.
“It keeps my brain exercised,” Brown
says, a bit self-effacingly, with a nod to
some of his peers on Memphis’ political
scene who’ve exited the limelight and
have slowed down considerably. “I’ve just
had a good run. I’m still having a good
run.”
Brown was born in 1939. Outside of
his legal work, today he’s also a co-owner
of Memphis Chemical, a minority-owned
business that was founded in 1968 and
employs 17 people. About his portrait that
will be unveiled next week, Brown already
describes it as a humbling experience.
“You look at the artist’s work, and
while it represents you – it represents me
in this case – really, it represents a lot of
people,” Brown said.
26 November 9-15, 2012
L O G IS T ICS
Norfolk, CBRE Executives Tout New Yard
ERINN FIGG | Special to The Memphis News
Intermodal facility in Rossville brings logsitics, industrial real estate opportunities for region
N
orfolk Southern Corp.’s most ambitious intermodal terminal to
date, the $105 million, 380-acre
Memphis Regional Intermodal Facility
in Rossville, is making steady progress
toward becoming a driving force for
industrial development in Tennessee and
Mississippi.
Grant Cothran, manager of national
accounts in intermodal development for
Norfolk Southern, and Tommy Jackson,
senior vice president of industrial asset
services for CB Richard Ellis Memphis,
brought more than 300 logistics industry decision-makers up to speed on the
project Wednesday, Nov. 7, at the third
annual Southeast Freight Conference at
the Hilton Memphis.
During their 45-minute presenta-
tion on the Crescent Corridor, Cothran
and Jackson shared current highlights of
Norfolk Southern’s $2.5 billion, multistate initiative to establish a high-capacity
intermodal freight rail route along 2,500
miles from the Gulf Coast to the MidAtlantic.
The Rossville terminal had its soft
opening in July. By October, the completed Fayette County facility had a
200,000-volume lift capacity, 1,000 parking spaces for trailers, the latest in gate
and terminal automation technology –
which will reduce the waiting time to get
into the facility and reduce emissions in
the process – 12,150 feet of lift track, and
7,110 feet of support track.
“I want to emphasize that we have
plenty of room for expansion,” Cothran
said. “We have engineering plans drawn
up and ready to go, and there’s no doubt
in my mind that we will eventually expand.”
Norfolk Southern chose the Rossville
location because of its potential to attract
neighboring businesses and lower their
operating costs, Cothran said.
“Proximity matters,” he said. “When
companies choose where to locate their
facility, industrial sites that are close to an
intermodal terminal mean fewer highway miles traveled for every container.
At the Rossville facility, companies have
an opportunity to locate very close to our
terminal.”
Neighboring industrial parks include
the 3,600-acre Chickasaw Trail Industrial
Park, at U.S. 72 and Cayce Road in Mar-
shall County, Miss., and Gateway Global
Logistics Center, the approximately 1,200acre industrial component of the Piperton
Hills Development, which spans Marshall
and Fayette counties and is partially located within the Chickasaw Trail area.
Infrastructure improvements will offer
additional advantages.
“The road connections are really
improving, which is so crucial to intermodal,” Cothran said. “We can take care
of our tracks, but once you get off our
property, you need to be able to get your
cargo exactly where it needs to be able to
go within the larger region.”
To date, infrastructure enhancements
have included grade improvements on
Tenn. 57 and U.S. 72 and an extension of
Tenn. 385 south from 57.
IN K E D
Briarcrest Sells East Memphis Campus to Church
A
fter seven years of leasing space for its worship
services, Highpoint Church has acquired Briarcrest
Christian School Systems Inc.’s property at 6000
Briarcrest Ave. for $7.25 million.
The purchase allows 10-year-old Highpoint to finally
own the facility where it meets, while Briarcrest will
benefit from a long-term leaseback for its preschool and
elementary students. The East Memphis campus spans
170,000 square feet and sits on 16 acres.
The lease on Highpoint’s offices and mailing address
at 6740 Reese Road runs out in January, and the church
will start gradually transitioning into its owner-occupied
space as soon as possible, said lead pastor Chris Conlee.
“We’ve got a full plan to comprehensively renovate the
facility over the next five years,” Conlee said. “With it being an elementary school, probably the first thing we want
to renovate is the restrooms, but we will be renovating the
auditorium, the exterior and interior. Hopefully, five years
from now, instead of it being a 40-year-old school, it’ll be a
state-of-the-art facility that really complements our vision
well.”
Briarcrest will use the proceeds of the sale for partial
construction costs of its new 35,000-square-foot Dr. Willard R. Sparks Chapel and Performing Arts Center at the
Houston Levee campus, 76 S. Houston Levee Road, north
of Collierville. Briarcrest opened its high school there in
2003 and added middle school facilities in 2009, said Briarcrest director of communications Beth Rooks.
The 1,000-seat facility will feature a full theatrical
stage, back-stage holding areas, full dressing rooms, set
workshop, orchestra pit, an informal art gallery, and additional classrooms and practice rooms for the performing arts.
The addition will also be the new home of Briarcrest’s
administrative offices – including the admissions, business affairs, communications, development and informa-
tion technology departments – as well as the headmaster’s
and president’s offices.
Fleming and Associates Architects PC is the architect
and Linkous Construction Co. is the contactor. Construction should begin in the next few weeks.
“With the construction of the Sparks Chapel, we will
see the fulfillment of a vision held by previous boards of
trustees for the past 15 years,” said Mark Merrill, Briarcrest
president.
In other commercial real estate news, a Southaven
medical office building has traded hands.
DeSoto Surgical Affiliates LLC purchased the former
DeSoto Surgery Clinic at 7580 Clarington Cove in Southaven from BancorpSouth for $1.4 million.
The 13,137-square-foot building was built in 2005 and
includes two separate waiting areas, office space for up to
four physicians, a backup generator and an X-ray room.
The Class A facility sits on 1.46 acres and is off of Airways
Boulevard, across from the entrance to Baptist Memorial
Hospital-DeSoto.
Henry Stratton, vice president of brokerage services
with Colliers International Memphis, represented the
seller. Kelly Truitt, president of CB Richard Ellis Memphis,
represented the buyer, an orthopedic group that plans to
use the space as a surgery center.
In other deals, an East Memphis office condominium at 6254 Poplar Ave. has changed
ownership. Dr. Alan Levy of Mars Enterprises
LLC bought the 4,897-square-foot space from
James Gates for $485,000.
Brian Califf, broker associate with NAI Saig
Co., represented the buyer. Eric Fuhrman,
president of Crye-Leike Commercial, represented the seller.
Built in 1981, the property’s 2012 appraisal from the Shelby County Assessor
of Property is $572,800.
Also recently sold was 12.4 acres at
5515 Hayes Road in Arlington, just off of Airline Road.
Regency Homebuilders LLC, which was unrepresented, acquired it for $250,000 from Diane Johnson, who was
represented by Bill Caller, broker with Crye-Leike Commercial. Caller said Regency plans to develop and market
Hayes Place Planned Development, which was approved
by Arlington in September.
“This is the first land acquisition for residential development in the town of Arlington in over five years,” Caller
said. “This property had 120 days of due diligence from
contract to closing.”
Meanwhile, Jason’s Deli has renewed at Park Place
Centre, and will move into a new and larger 7,155-squarefoot space at 1215 Ridgeway Road. The Beaumont, Texasbased restaurant chain has leased 4,832 square feet in the
shopping center at Ridgeway and Park Avenue since 1997.
Carey White, senior vice president of asset management with Loeb Properties Inc., represented the landlord
and was the only broker involved in the deal.
And FedEx Employees Credit Union has inked a
2,700-square-foot end-cap in Dexter Center, 8195 Dexter
Road, for its Cordova retail branch. Dan Walker Associates
Inc. recently filed a $212,000 permit for alterations.
Jill Schmitt, senior adviser with Cresa Nashville, represented the tenant, which will relocate from 8115 Country
Village Drive. Colliers’ Ed Thomas and Andrew Phillips represented the landlord.
“It’s going to be a good tenant for that center,”
Thomas said. “We’re repositioning the property.
We’re going to try to bring some more quality
tenants to the neighborhood. The landlord’s
getting ready to put some improvements into
the property, updating the center.”
Send commercial lease announcements to Sarah Baker, who can be
reached at 521-2464 or sbaker@
memphisdailynews.com.
November 9-15, 2012 27
Danger: The Early Warning Sign of Opportunity
formula seems commonplace.
Without relying on the
The very things that made you differpredictable places to hide – spread
ent – how you went to market, a product
sheets, business buzzwords, risk mitibreakthrough – limit your ability to thrive
gation plans, past glories – look me in
in the new world of today. Perhaps regulathe eyes. Now, point out the potential
tions are changing,
dangers for your
or import or export
business. When
laws make it harder
you stutter or exto move swiftly.
press worry about
The world has
your employees, I
been moving at the
will know you’re bepace of the market
ing real, vulnerable,
human.
JOCELYN ATKINSON for more than a
I understand.
& michael graber decade, but you’ve
let’s grow stayed still. EveryYou had a formula
thing has changed,
that worked. You
except your company. OK, you may have
grew an amazing 10 percent or more for
made an incremental improvement in
12 consecutive years, even if your growth
execution or attained operational excelis now declining, or flat, or worse.
lence. Here’s a consolation prize.
The market is dynamic. Competitors
New brands have been born. New
arise out of nowhere. Customers change
business models have entered the marhabits, brands, or both. Your once magic
ket. Service means something else than it
did when you started to gain traction. Old
customers have not been loyal in the long
run. Be real. Back to danger.
Your dangers may save you. They can
instruct your next move. An informed
and intelligent response to danger, rather
than a knee-jerk reply to it, can force a
company to make changes that will empower it to thrive – but the firm must to
be willing to change and capable of being
honest with itself.
Woe be on those companies whose
pride will not let them adapt, change and
reinvent themselves.
Companies so vain as to not change
their story and their culture if they are
losing market share deserve to live in an
isolated, airless bubble.
Wake up – it’s dangerous out there –
and that’s the good news.
The Chinese ideogram for danger also
3590 new tchulahoma road
memphis, TN 38118
REAL ES TAT E RECAP
Corporate Avenue Building
Sells for $1.2 Million
ERIC SMITH | The Memphis News
Expy
elman
B. Fog
Avron
Pl
v
rate A
e
Pl
id
Corpo
Parag
on
e Rd
Py
ra
m
entin
Clem
Nonconna
h Blvd
ch Rd
bran
Mill
Profit Dr
1721 Corporate Ave
Carrier St
1721 Corporate Ave., Memphis, TN 38132
1721 corporate ave.
Memphis, TN 38132
Sale Amount: $1.2 million
Sale Date: Oct. 26, 2012
Buyer: Mid South Tech Services LLC
Seller: KSH Family LLC
Loan Amount: $1.2 million
Loan Date: Oct. 26, 2012
Maturity Date: Oct. 26, 2022
Lender: Iberiabank
Details: The 35,097-square-foot industrial facility at 1721 Corporate Ave. next to the
Nonconnah Corporate Center has sold for $1.2 million to Mid South Tech Services
LLC. The company bought the property Oct. 26 from KSH Family LLC, which paid
$1.1 million for the building from Edwards Lifesciences LLC in 2005 and whose chief
manager Kerry S. Hirschman signed the warranty deed. Built in 1981, the Class B
warehouse storage facility sits on 5.45 acres along the south side of Corporate Avenue,
which runs parallel and to the south of Interstate 240 between Millbranch Road and
Airways Boulevard. The assessor’s 2012 appraisal is $1.3 million.
Maturity Date: Nov. 1, 2022
Borrower: Woodlake LP
Lender: Financial Federal Savings
Bank
Details: Woodlake LP, the owner of
the Woodlake Apartments at 3590
New Tchulahoma Road in Oakhaven, has filed a $1.5 million loan on
the property.
The company filed the multifamily deed of trust, absolute
assignment of leases and rents, and
security agreement (including fixture filing) Oct. 31 through Financial Federal Savings Bank.
Built in 1972, the Class C
multifamily property includes 122
apartments and 110,288 square feet
on 7.15 acres on the west side of New
Tchulahoma Road, southeast of
the intersection of Winchester and
Tchulahoma roads near Memphis
International Airport.
The Shelby County Assessor
of Property’s 2012 appraisal of the
property is $1.6 million. Woodlake
acquired it in a 1990 quitclaim deed
from Robert F. Fogelman.
2345 n. germantown parkway
memphis, TN 38016
Loan Date: Aug. 24, 2012
Borrower: Abbay Hyde Enterprises
LLC
Lender: First Tennessee Bank NA
Details: Abbay Hyde Enterprises
LLC, the owner of the Abbay’s fastfood restaurant at 2345 N. Germantown Parkway in Cordova, has filed
a $1.3 million on the property.
The Walls, Miss.-based company
filed the deed of trust through First
Tennessee Bank NA.
The loan closed in August but
means opportunity. This is not to suggest
that we seek out danger, but that we look
for openings: broken brand experiences,
a chance to wildly redesign service expectations, or outdated business models
to reinvent or revise.
Noticing danger means you notice
opportunity.
Noticing the new connections in
the cracks of an older system produces
insights about what you can do to reset
market expectations by redefining what
the category means to customers.
When you are ready to reinvent your
business or take a leap into a new market,
notice the dangers first. That is where
opportunity will be hiding.
Jocelyn Atkinson and Michael Graber
run the Southern Growth Studio. Visit
www.southerngrowthstudio.com to learn
more.
wasn’t recorded by the Shelby County Register of Deeds until this week.
Built in 2006, the 3,979-square-foot
restaurant sits on a 1.1-acre outparcel of the Countrywood Crossing
shopping center in the Galleria of
Memphis Planned Development.
The restaurant is on the east side
of Germantown Parkway between
Rockcreek Parkway and Market
Plaza Drive, just south of Interstate
40. The Shelby County Assessor of
Property’s 2012 appraisal is $1.5
million.
Robert I. Abbay IV signed the
trust deed as member of Abbay
Hyde Enterprises, which bought the
land from the center’s developer,
TomBo Properties Inc., in 2005 for
$876,413 to build the freestanding
restaurant.
3009 davies plantation road
Lakeland, TN 38002
Maturity Date: N/A
Borrower: MEP Investments LLC
Lender: First Tennessee Bank NA
Details: MEP Investments LLC,
whose members George Edward
“Ed” Hargraves and Stephen Patrick
“Pat” Harcourt are principals in the
engineering and architectural firm
A2H, has filed a $1.1 million loan on
A2H’s headquarters at 3009 Davies
Plantation Road in Arlington.
The property’s ownership entity
filed the loan Oct. 8 through First
Tennessee Bank NA with Hargraves
and Harcourt signing the trust deed.
MEP Investments bought the
13,759-square-foot building in 2006
for $1.1 million.
Built in 1974, the Class A mixeduse office building sits on 3.89 acres
on the southwest corner of Davies
Plantation and Fletcher Trace
Parkway in the Louis Gray Estate
Division and Tract subdivision.
28 November 9-15, 2012
Magic Delights
At Puzzle Festival
Nine-year-old Joel Brown, a fourthgrader at Moody Elementary in White Hall, Ark.,
and his dad, Chris, a Jefferson County deputy clerk,
arrived at Sturgis Hall at 4:20 last Friday (Oct. 26).
Busy with her nursing school studies, mom Stacy
couldn’t come.
The Browns had seen David Kwong on earlymorning TV promoting the Clinton School Puzzle
Festival. David, a magician,
was the featured performer. The Browns came
early for a good seat. What
they’d misunderstood,
though, is that the puzzle
competition preceded
David’s program. Not havVIC FLEMING ing enough time allotted,
I SWEAR they headed for the exit,
disappointed.
David Kwong’s an unusual guy. Born in Rochester, N.Y., to a history professor and a biochemist,
he started life amid brightness. After graduating
Harvard with a B.A. in history, he went west and got
a job as a magician’s assistant. (He’d been practicing magic since childhood and wanted to see if he
was as good as everyone said he was.)
Before long, Kwong sensed his future lay in
movies. Landing a job with DreamWorks, he established himself as a consultant in magic … and cruciverbalism. He
consulted
on 2009’s
Fleming’s weekly puzzle Page 32
“All About
Steve,” in
which Sandra Bullock played a crossword constructor. He’s credited as chief magic consultant in “Now
You See Me,” with Morgan Freeman and Woody Harrelson, set for release in 2013. He’s the founder of
the Misdirectors Guild, “an elite group of magicians
who specialize in illusions for film and television.”
See misdirectorsguild.com.
A dollar bill loaned to the magician at the
outset – after someone had drawn a dinosaur on
it – turned into a clean $100 bill, before our very
eyes! Later, after several other tricks, David took a
group of Scrabble tiles, drawn randomly by audience members, announcing he’d interlock them all
in four minutes, Scrabble-style. Also, he’d “try to
make” three 8-letter words in the mix. When time
was called, he’d not employed two tiles: J and L.
He’d made his three eight-letter words, though:
HORRIFIC, UPCHUCKS, and HAYMAKER. Apologizing for the two leftover tiles, he pleaded, “It wasn’t
that bad, was it?” Disappointment set in – briefly.
David wrote his eight-letter words on a whiteboard,
with the Scrabble point-value of each letter next
to it. The bill with the dinosaur on it then emerged
from a kiwi fruit that had been held by audience
members throughout the show. David then added
the Scrabble scores of the respective first through
eighth letters. The sums, preceded by J and followed by L, were the bill’s serial number! And that
wasn’t his best trick!
Back to Chris and Joel Brown, who were leaving well before the show was to start. Learning of
their situation, David had someone bring them to
the conference room, where he gave Joel a private
10-minute show. Chris later sent David a note,
thanking him for “making my son’s day” and saying
that Joel now “wants to be a magician when he
grows up.” So do I.
Vic Fleming is a district court judge in Little
Rock, Ark., where he also teaches at the William H.
Bowen School of Law. Contact him at vicfleming@
att.net.
I Swear Crossword
L a w Ta l k
Adams Driven by Helping
Clients ‘Sleep at Night’
RICHARD J. ALLEY | Special to The Memphis News
T
here are only seven attorneys
in Memphis certified with the
state of Tennessee as specialists
in estate planning.
Five of them work for the firm of
Wyatt Tarrant & Combs LLP, and Mike
Adams is one of those lawyers.
To be certified, an attorney must
have passed a test and been peer
reviewed while 80 percent of his continuing legal education must be in the
area of estate planning. It’s training
and a distinction that is important to
Adams, a 1997 graduate of the University of Memphis Cecil C. Humphreys
School of Law, and which compelled
him to further his studies.
“Right after law school I decided I
wanted to really focus on, and specialize in, estate planning, so I went to
one more year of law school down at
the University of Miami,” the only law
school in the country at the time offering a Master of Laws in the subject.
It was a personal experience that
ignited his interest in this area of
law. His grandfather died just before
Adams began law school and he was
able to help his grandmother through
a lot of the transition.
“I was kind of exposed to what
having a good will can do and what
it means to go through court, and so
forth, and then helping her update
her plan afterwards while I was in law
school just piqued my interest more,”
he said.
From Miami, Adams came back to
Memphis to work with Bogatin Law
Firm PLC until 2005 when he moved
to Williams McDaniel PC, which
merged with Wyatt, one of the region’s
largest law firms, earlier this year.
Adams cannot stress enough the
importance of having a plan in place
should the unexpected, or even the
expected, occur. He said three major
events warrant such planning: the
birth of a child, a death in the family
and traveling abroad.
All can cause people to look forward
and consider pitfalls
and possibilities, and
many can be fraught
with emotion, as in
the case of the death
of a loved one, which
is why it is imperative
to put a plan in place
beforehand when
calmer, cooler heads
might prevail.
“A lot of it can
be avoided if people
Adams
plan early,” Adams
said. “If you don’t
plan at all then no one really knows
what you wanted and different people
recall different things about what
mom said. One of the things we try to
do is be very specific about what their
intentions are, about what they want
for their children or their family.”
A lack of planning, Adams said, is
“one of the reasons why we’re seeing
an increase in litigation the last six or
eight years, we see a lot more litigation in trusts and estates area.”
While the entanglement of emotion is one labyrinth an estate planner
might have to navigate, the tax code
itself is another.
“You go to school, you do it for a
while and have some exposure, and
eventually figure out the complicated
stuff, and just when you think you’ve
got it, they come and change the law,”
he said.
It’s a maze that is always changing, a roadblock thrown up here, a
new statute there. If Congress doesn’t
act by the end of 2012, the federal
estate tax exemption will go from $5
million to $1 million, an event that is
prompting people to make gifts this
year or put the money
into trusts while the
exemption is still
active. It’s the type of
unknown that keeps
estate planners like
Adams on their toes.
“Probably the
most frustrating and
challenging part of our
practice is keeping up
with the laws,” Adams
said.
To help mitigate
such challenges later
in life, Adams advises
young people just
beginning their careers or marriages
to get a good, basic set of documents
in order, including financial and
health care powers of attorney, and a
basic will.
Once children come along, set up
a trust and chain of custody should
something unforeseen happen.
The rewards of his profession far
outweigh any frustrations and the
hoops necessarily jumped through
as Adams is able to work closely with
families to give them peace of mind.
“When you’re able to meet with
someone before there’s a death and
you hear what their goals are and
what they want to accomplish, and
then you’re able to help them implement that so that they can accomplish
those goals,” he said, “at the end of
the meeting, when it’s all signed, they
walk away happy, they feel much
better about it, they can sleep at night
and you just see the smiles on their
faces and the relief in their faces.”
EARNIN G S
Tenet Reports Quarterly Growth
MICHAEL WADDELL | The Memphis News
D
allas-based Tenet Healthcare
Corp. on Wednesday reported growth of more than
$77 million, or 40 percent, in adjusted
earnings before interest, tax, depreciation and amortization compared
to last year’s third quarter.
Tenet, the parent company of
Saint Francis Hospital-Bartlett and
Saint Francis Hospital-Memphis,
experienced 5.8 percent growth in net
operating revenues spurred by pricing increases as well as outpatient
and surgical volume.
“Last night’s election results are
encouraging for the full implementation of the Affordable Care Act,”
Trevor Fetter, Tenet past president
and chief executive officer, said in a
statement. “Based on our model of
expanded coverage under the act, all
of our hospitals are in markets that
will see an increase in covered lives,
and in virtually all of our markets
that growth exceeds the rate for the
country as a whole.”
Tenet expects the act to be a
strong driver for earnings over the
next few years. Mitt Romney had
vowed to dismantle the health care
reform act if elected. Tenet remains
focused on physician alignment and
outpatient center strategies, as it
will acquire a total of 15 outpatient
centers and open 14 newly built
outpatient centers this year. By the
end of the year, Tenet will operate 124
outpatient centers across the country.
November 9-15, 2012 29
M e m p h i s S TAN D O U T
Garland Sells Real Estate to Beat of Own Drum
C
hris Garland was drawn to the
hustle and bustle of the real estate
business in his early teens.
“I remember going into my cousin’s
office one day and he was sitting in there
on the phone with his feet up on his desk
looking through all of these papers and
negotiating a deal,” Garland said. “I was
like, ‘I want to do that.’”
He would go on to run errands for
that cousin, Gary Garland, at Crye-Leike
Commercial Investment Division, before
getting his real estate license in 1987 at
age 20. That background led him to obtain
a degree in urban development from the
University of Memphis – a combination of
real estate, finance and city planning.
Chris Garland joined Gary’s newly
formed company, Garland Co. Real Estate,
in 1993 to sell commercial real estate and
has been there ever since. In 1997, the firm
moved its offices Downtown from Sanderlin Avenue and Garland started selling
residential too. It’s a broader focus that
Garland’s industry peers don’t dabble into
quite as much.
“Commercial real estate agents will
ask me, ‘Why do you sell residential and
commercial?’” Garland said. “I say, ‘Well,
one day I figured out that I could sell three
$300,000 houses twice as fast as I could sell
one $300,000 commercial building.’ But I
still liked doing commercial buildings too,
so I decided to do both. And be good at
both.”
Garland began to specialize in the
Downtown market, selling homes at
Harbor Town, South Bluffs and condos. He
also brokered commercial transactions,
including retail and office leasing, sales
of buildings for redevelopment, as well as
land for redevelopment.
All the while, Garland kept bumping
into Tracie Gaia, who was handling residential property for Downtown investors
and developers like Phil Woodard. In 2004,
Gaia joined Garland Co. Real Estate, and
the duo teamed up to take on marketing
new town homes and condos.
“We started selling these vacant buildings for the revitalization of Downtown,”
Garland said. “We were the sales team for
the developer/builder who had no sales
team. We helped them design up for what
was best for the market, meet with the
architects, get the floor plans and finishes
right to where we knew we could sell
them.”
Since then, Gaia and Garland have
tallied more than $80 million in residential
sales. To this day, they’ve sold several of
those units two or three times over.
“People, when
they’re getting ready
to sell it, they call us
again,” Garland said.
Projects Garland
has been involved with
in recent years include
Kerr Tigrett’s The Ivy at
South End subdivision,
CityHouse Memphis
Condominiums at 6
W. G.E. Patterson Ave.,
Finard Properties Inc.’s
GARLAND
The Welcome Wagon
Building at 30 N. Second St., and numerous buildings along
South Main, including where UrbanArch
Associates PC now resides.
“I love to see the buildings go from being vacant to useful and thriving,” Garland
said. “I like seeing things change.”
Garland has also represented such retailers as City Market grocery in its ground
floor lease at Radio Center Flats, 66 S. Main
St., and Gus’s World Famous Fried Chicken
in its build-to-suit space at 730 S. Mendenhall Road.
“In a previous real estate market, I
could afford to specialize in one area:
Downtown,” Garland said. “I still specialize in Downtown, but
I’ll handle commercial
or residential real estate
transactions anywhere
in the city. And I’m very
capable of it because I’m
45 years old and I’ve lived
in Memphis all my life.”
Sales have “picked
up a lot” in the last year,
Garland said.
When he’s not making real estate deals,
Garland enjoys traveling,
fly fishing and scuba diving. He’s also a Tigers and Grizzlies season
ticket holder.
It’s a testament to his love for Downtown, where it’s not uncommon to see Garland out and about showing property, cell
phone in hand – but never in a suit.
“I walk to the beat of my own drum as
far as the whole real estate business goes,”
he said.
THE
PULSE
REPORT
A monthly snapshot of local real estate trends.
The
is a
complimentary publication derived from
our extensive Market Trends reports
and offers you an overview of:
»
»
»
»
»
Register today for this free monthly report at www.chandlerreports.com
Home Sales Activity
Commercial Real Estate Trends
Foreclosure Analysis
New Housing & Builder Activity
Lending and Mortgage Trends
30 November 9-15, 2012
h e a l t h c a r e & b i ot e c h
Local Organizations Promote
Alzheimer’s Awareness, Eduation
N
ovember is Alzheimer’s Disease
Awareness Month and several local organizations are ramping up
efforts to increase awareness and education for caregivers and loved ones dealing
with the challenges of Alzheimer’s disease
and other dementias.
Home Instead Senior Care is rolling out a free program to help caregivers better understand the disease, the
Alzheimer’s Association continues its fight
for increased awareness with free monthly
classes at four area locations and Alzheimer’s Day Services of Memphis Inc. will hold
a scavenger hunt fundraiser on Saturday
Nov. 10.
Alzheimer’s is the leading irreversible disease that shows the symptoms of
dementia. According to the Alzheimer’s
Association’s Mid-South chapter, more
than 5.5 million people are diagnosed with
Alzheimer’s in the U.S. and an estimated
800,000 individuals (more than one in
seven) live alone. By 2050 up to 16 million
will have the disease.
“By the year 2025 we are anticipating
more than 150,000 people will be diagnosed in Tennessee over the age of 65,”
said Susan Howe Crowson, director of
programs and advocacy for the Alzheimer's Association’s Mid-South chapter.
“And for every individual diagnosed with
Alzheimer’s, there are approximately three
Illustration: Shutterstock
other individuals who are unpaid caregivers affiliated with them, including family,
friends, loved ones and congregational
care. We want to provide education and
awareness that the disease is impactful right now, and it will be a national
crisis within the next 10 to 25 years if we
continue to not address it as a national
priority.”
The Alzheimer’s Association is the
largest nonprofit organization in the
country, with local chapters throughout
all 50 states. Alzheimer’s disease is the
sixth leading cause of death in the U.S.
and the only cause of death among the top
10 without a way to prevent, cure or even
slow its progression. Of Americans aged
65 and over, one in eight currently has
Alzheimer’s, and nearly half of people aged
85 and older have the disease.
Crowson points out that the financial
impact of the cost of Medicare and Medicaid is substantial. Medicare costs for those
with Alzheimer’s and other dementias are
three times higher than for those without,
and Medicaid spending is 19 times higher.
In 2012 the direct costs of caring for
those with Alzheimer’s will total an estimated $200 billion, including $140 billion
in costs to Medicare and Medicaid. By
2050 those costs could rise to nearly $1.1
trillion, according to the association.
In late October, Home Instead Senior
Care debuted its Alzheimer’s or Other Dementias CARE: Changing Aging through
Research and Education training program,
a free class for families and caregivers
dealing with seniors suffering from Alzheimer’s disease and other dementias.
The focus of the program is to gather
stories and experiences about the senior’s
past, tapping into their long-term memory
since those with Alzheimer’s disease have
difficulty with short-term memory.
“We received fantastic reviews from
the caregivers about the application,” said
Melissa Bennett client care coordinator
at Home Instead Senior Care, which is
celebrating its 16th year in Memphis.
Home Instead held its first certification
class at the first of October and then held
another test run session with local Alzheimer’s experts later in the month. The
first official class in the series of four will
be held at the Home Instead’s Memphis
office on Dec. 5. The Memphis franchise
employs eight people at its office and
works with more than 200 area caregivers.
Home Instead provides care for seniors
living at home, in assisted-living facilities
and in nursing homes. It is part of a network of 900 locally owned and operated
franchises located in all 50 states. Daryl
Doane owns the Home Instead franchises
in Memphis and Oxford, Miss., and there
are also locations in Jackson, Tenn., and
Little Rock, Ark.
Due to the physical and emotional
toll of caregiving on their own health,
Alzheimer’s and dementia caregivers had
$8.7 billion in additional health care costs
in 2011. More than 60 percent of Alzheimer’s and dementia caregivers rate the
emotional stress of caregiving as high or
very high and one-third report symptoms
of depression.
The Alzheimer Association offers
free classes. Upcoming classes include
Impact of the Holidays for the Person with
Dementia held at Baptist Memorial Hospital’s Memphis Education Center in East
Memphis on Nov. 14, followed by Tips for
Taking Care of the Caregiver on Dec. 19.
The Alzheimer’s Association’s primary
local fundraising event is the annual “Walk
to End Alzheimer’s,” which will be held
next year on Sept. 14 at Shelby Farms Park.
The 2012 event featured 1,090 participants
and raised more than $100,000.
On Nov. 10 Alzheimer’s Day Services
of Memphis will hold “Fun on the Run:
A Scavenger Hunt for Alzheimer’s Day
Services” in support of Alzheimer’s Disease Awareness Month.
Sales, Marketing Lessons From the Presidential Campaign
appearance on TV in the 1960 debates
Despite your political
against a feverish-looking Nixon helped
affiliations or how your candidate fared in
him secure the win. The “reach” (number
this year’s presidential election, it’s tough
of impressions) that Obama
not to appreciate the fullgenerated on YouTube during
court press the candidates
the 2008 election would have
give in selling and marketing
cost the campaign more than
their own personal brands.
$50 million in equivalent TV
In fact, there are sales and
airtime. Brands and campaigns
marketing takeaways that
that fail to embrace technology
we can glean from one of the
do so at their own peril.
most expensive elections
8.) Keep Messaging Simple:
(AKA “ad campaigns”) in our
Lori turner- Keep your message simple,
nation’s history – lessons we
wilson
can leverage in promoting our
guerrilla sales easy to understand and share
own local brands.
and marketing with others. Then stick with it.
Historically, campaigns that
10.) Understand Emotional Buying: Consumers make emotional teeter back and forth between messages
fall short of the goal line.
buying decisions first, only later seeking
7.) Maintain Positive Tone: Presidential
rational support to justify the decision
campaigns that focus on their own value
they’ve really already made. That’s why
proposition versus tearing down their
people decide whom to vote for based
competitors are more often to find their
more on how they feel about the candiway to a win.
dates than any rationale argument one
6.) Define WIIFM: In the end, elections
could make.
are won or lost by a candidate’s ability to
9.) Embrace Technology: Effective use
talk to people about what affects them
of new technology wins elections: Eisendirectly – the “what’s in it for me” (WIIFM)
hower won in 1952 thanks to radio. JFK’s
factor. The rest of the rhetoric is just noise.
5.) Know Thy Target: Knowing your
audience and targeting your message accordingly is essential. Texas and New York
aren’t emphasized by the campaigns for a
reason – they don’t have as significant an
impact on the outcome as states like Ohio
and Virginia. Targeting doesn’t mean that
any group of prospective voters (or buyers) is less important than another – it’s
just smart marketing.
4.) Act vs. React: Don’t let your competition control your message. Stay on point
and drive home your key messages with
consistency and frequency versus changing course with every competitor whim.
3.) Promote Brand First: Facts alone
simply don’t distinguish a candidate, or a
brand, from another. Voters, like consumers, make decisions on a more visceral
level. Once they believe in your brand, then
the facts become a more important part of
the conversation.
2.) Leverage Data: Every year, political
campaigns become increasingly datadriven with those most quickly accessing
reliable data – and knowing how to use it –
often winning elections. Data allows you to
know how to properly frame your content
so that it resonates with your audience. In
other words, metrics allow you to adjust
your marketing strategy real-time based
on your performance.
1.) Express Personality: Candidates
with personality, who engage with voters,
win hearts. Have a sense of humor and let
down your guard – when promoting any
brand, whether it be political or otherwise.
Whether you’re a political junkie or
glad all the rhetoric is coming to an end,
don’t miss the opportunity to learn a lesson – or 10 – from one of the most expensive advertising and marketing campaigns
of our time. Leverage the candidates’
successes and failures for a big impact on
your bottom line.
Lori Turner-Wilson is an awardwinning columnist and CEO/Founder of
RedRover Sales & Marketing, www.redrovercompany.com. You can follow RedRover
on Twitter (@redrovercompany and @
loriturner) and Facebook (facebook.com/
redrovercompany).
November 9-15, 2012 31
Newsmakers
F O O D B U SINESS
Haynes Joins The Table Group
Green Girl
To Create Indoor
Vertical Farm
Kate Simone | The Memphis News
Brad Haynes has joined The Table Group Inc. as principal consultant. Haynes provides executive teams with consulting and training
built around teamwork, leadership and organizational health.
Hometown: Jackson, Tenn.
Education and/or work experience:
Bachelor of Arts in religious studies
from Rhodes College in 1991; Master of Arts in theology and Doctor of
Psychology from Fuller Theological
Seminary in 2006. Prior to joining The
Table Group, he worked at The Christian Psychological Center, specializing
in organizational health and individual
and marital therapy.
Family: Wife of 12 years, Sally; Daughter, Tybi
Who has had the greatest influence
on you? I owe my parents the world.
My mom has taught me how to laugh
and love, and my dad has taught me
the value of listening and planning. I
am blessed to get to see them weekly.
What attracted you to The Table
Group? A great group of humble,
hardworking people with a simple and
incredibly effective model for making
organizations healthier.
A
What are your goals as principal
consultant? To help leaders build
healthier, more stable and productive
organizations.
What do you consider your greatest accomplishment? My greatest
accomplishment was getting Sally to
marry me.
What do you most enjoy about
your work? I have the best job on the
planet! I get to work with committed
leaders and help them build stronger
organizations that support healthy individuals and families.
If you could give one piece of advice
to young people, what would it be?
Practice the discipline of reading your
Bible daily.
haynes
Dave Nelson has been elected chairman of the board of A3
Freight Payment. Ned Nelson
has been elected the board’s
vice chairman and secretary.
The Nelson brothers are founders of AIMS Logistics.
Dr. Lin Zhan, dean of the
Loewenberg School of Nursing
at The University of Memphis,
has been named one of top 100
nursing professors for 2012 by
BSNtoMSN.org. Professors are
chosen based on the academic
rankings of nursing schools,
awards, the quality and quantity
of their academic publications,
peer recommendations and student reviews.
Marty Keith has been promoted to assistant administrator at Methodist University
Hospital. Keith has been interim
assistant administrator since
April. Mayzelle Moore was
named director of HR.
Scott Thurmer has joined
the Memphis branch of
Churchill Mortgage as loan officer; Don Bennett has joined the
branch as home loan specialist;
and Sandra McGehee has joined
as mortgage loan processor.
AOC LLC has promoted several executives in its research
and development department.
Dr. Tom Folda has been named
senior vice president, technology; Mike Beebe, research and
development director, open
mold synthesis/analytical; Dr.
John McAlvin, research and development director, open mold;
and Dr. Tomas Steinhausler, research and development director, closed mold.
Friday at 7:00pm WKNO
Friday at 7:30pm WKNO2
Sunday at 8:30am WKNO
Tracy Busby has joined
Memphis Consumer Credit Association as executive vice president of sales and marketing,
overseeing sales and marketing
efforts across the association’s
multistate region.
group of food professionals is working toward supplying restaurants
with local produce while improving
the health of Memphians and fighting urban
blight.
Green Girl Produce plans to leverage technology to create the city’s first indoor vertical
farm, providing the community with costeffective, year-round organic mircogreens. By
leasing an old 1,260-square-foot liquor store
at 2655 Broad Ave., the space has the potential
to store up to 2,500 square feet of growing
room.
But what exactly are microgreens? Emma
Self, silkscreen printer, restaurant industry
veteran and gardener,
calls them “sexy little
plants.”
“Chefs love them
because they make a
boring dish pop, they
add intense flavor,
texture and vivid
color,” Self said. “On
top of that, they are super nutritious with up
to 40 times the nutrients and vitamins of their
mature counterparts.”
Green Girl Produce plans to use LightEmitting Diode (LED) lighting with only two
employees administering an automated,
re-circulating hydroponic system. This is
accomplished by using the same amount of
electricity as a similar-sized office building
and 90 percent less water than conventional
farming techniques.
Green Girl Produce assesses the unfilled local demand of microgreens to be
550 pounds per week. Ciao Bella’s executive
chef Jonathan Steenerson told Self that he
pays farms in California more than $100 per
pound for greens that are often wilted by
the time they arrive.Other restaurants that
have demonstrated a desire to have readily
available microgreens include Acre, Interim,
Andrew Michael Kitchen and Hog & Hominy,
Chiwawa, Cosmic Coconut, Elegant Farmer,
Republic Coffee, Rizzo’s Diner, Sweet Grass
and Sweet Grass Next Door, and Tsunami.
Green Girl Produce estimates its production to exceed 100 pounds of microgreens
daily. At $25 per pound, that translates to $1.2
million in annual revenue – with payback
within just one year. The idea is to first meet
local demand by partnering with M. Palazola
Produce Co. and other restaurant distributors,
as well as local farmers markets and specialty
grocers like Whole Foods Market. Eventually,
Green Girl Produce aspires to fill regional and
national needs of microgreens.
“Since we’re so close to the FedEx hub, we
can leverage our proximity and get in orders
six or seven hours before all of these other
people all over the country that have to ship
out,” Self said.
Besides Self, Green Girl Produce is made
up of Taylor Berger, attorney and owner of
YoLo Frozen Yogurt & Gelato; Ellen Roberds,
former reverend with Calvary Episcopal
Church; and Lynette Morgan, authority in
hydroponic and LED methodology.
32 November 9-15, 2012
Week of 10/29/12 - 11/4/12
crosswords
The Weekly
Crossword
Edited by Margie E. Burke
The Weekly Crossword
ACROSS
1 Shoot wide
5 Fluid buildup
10 Patriot maker
14 Blue-pencil
15 Cantaloupe, eg.
16 Sea eagle
17 Music for one
18 Traffic cone
19 Aries or Libra
20 Soluble
substance
22 Promiscuous
woman
24 Grassy surface
26 Volcanic dust
27 Touch lightly
30 Belt size,
basically
32 Arm joint
37 Heroic poem
39 Bird's cry
40 Louisiana lingo
41 Pavement
stones
43 Old-time remedy
for poison
44 Push forward
45 Bikini top
46 Large amount
47 Weasel's cousin
48 Indiana state
flower
50 Curved letter
51 Prickly
seedcase
53 Ski lift
55 Take-home food
sack
60 Come forth
64 Willing and ____
65 Broadcasting
67 Wind around
68 Wry face
69 SAG member
70 Sea lettuce
71 Furtive look
72 Very small
73 Foot soldier
1
2
3
by Margie E. Burke
4
5
6
7
8
9
10
14
15
16
17
18
19
20
22
21
24
27
28
29
37
25
30
41
31
32
35
36
62
63
46
48
47
57
34
43
45
56
33
40
44
55
13
26
42
51
12
23
39
38
11
49
52
53
58
59
50
54
60
61
64
65
66
67
68
69
70
71
72
73
Copyright 2012 by The Puzzle Syndicate
4 Large weasel
40 Thanksgiving
56 Woodwind
5 Based on
fruit
instrument
experimentation 42 Horse race
57 Adhesive
6 Susan of "The
43 Move quickly
58 Nerdy one
Partridge Family" 45 Exist
59 Yard entrance
7 Building wings
48 Showy strut
61 Actor's part
8 Greenbacks
49 Sweet potato
62 Computer input/
output acronym
9 Paquin and
52 German sub
Pavlova
54 Summarize
63 Spirit
10 Bit of wit
55 Slightly wet
66 Charged particle
11 New York canal
12 Train operator,
briefly
13 Quaker leader
Answer to Last Week's Crossword
21 Axle bolt
S P U D
H I S S
F L I T
23 In that place
H U L A
N O R T H
R O D E
25 Shipping label
A R C H
I V O R Y
U P O N
word
R
E
E
L
G
E
N
E
W
I E L D
27 Musical speed
P
E
R
I
S
H
O
W
L
E
T
28 Separated
A T T A R
A B B O T S
29 Lace edging
A S T E R N
A L O E
31 Complement to N A B
U
P
R
I
G
H
T
E
D
I
T I O N
25-down
T
S
A
R
I
N
W
A
R
D
33Week
Meadows
of 10/29/12
- 11/4/12A D O L F O L D
S E T O F F
34 Italian bowling
N U T T Y
V E R S E D
game
S P A W N
A B L E
A C M E
DOWN
35 Cooking pots
A
L
D
A
O
S
I
E
R
C
O O N
1 Elevated ground 36 Garden
N E A R
A T L A S
A N T I
2 False god
intruders
K E L P
S E E M
3 Blouse fabric
38 Superhero garb S A M E
Sudoku

Difficulty : Easy

 
 







 

Each row must contain the

numbers 1 to 9; each column

must contain the numbers 1
to 9; and each set of 3 by 3

boxes must contain the

numbers 1 to 9.









HOW
TO SOLVE:

HOW TO PLAY

Copyright 2012 by The Puzzle Syndicate

Answer to Last Week's Sudoku

















































































12n-3p
»
November 9-15, 2012 33
happenings
Philanthropy and Nonprofit Leadership, The
Community Foundation of Greater Memphis and United Way of
the Mid-South will hold
a 2013 grant cycle interest meeting focused on
applicant matchmaking
Tuesday, Nov. 13, at 8:30
a.m. in the university’s
University Center River
Room. Applications for
the capacity-building
and small grants are due
Jan. 31. Visit memphis.
edu/scgrants for program details.
Talk of the Town Toastmasters Club will meet
Thursday, Nov. 15, at 1 p.m. at The Assisi Foundation, 515 Erin Drive. Visit memphistm.com.
The Council of Supply
Chain Management
Professionals MidSouth Regional Roundtable will meet Tuesday,
Nov. 13, at 11:30 a.m. at
Memphis Marriott East,
2625 Thousand Oaks
Blvd. CSCMP National
President Rick Jackson,
executive vice president
at Mast Global Logistics, will discuss current
trends in the supply chain. Cost is $25. Register
at cscmp.org or email midsouthcscmp@gmail.
com.
Rhodes College’s Mike Curb Institute for
Memphis will host a presentation, panel discussion and concert celebrating the musical heritage of Manassas High School and bandleader
Jimmie Lunceford Thursday, Nov. 15, at 5 p.m. in
the Bryan Campus Life Center at Rhodes, 2000
North Parkway. Visit rhodes.edu for a schedule.
Black Business Association
of Memphis and Renaissance
Business Center will present
“The Power of Social Media
Marketing” Tuesday, Nov. 13,
from 5:30 p.m. to 7:30 p.m. at the
business center, 555 Beale St. The
seminar will cover basic functions of
social media and how to effectively
use it for marketing. Cost is free.
Registration is required. Call 5263900.
» Community
Memphis Light, Gas and Water Division
will host the 14th annual Business of Service
Conference Friday, Nov. 9, from 9 a.m. to 2:30
p.m. in the MLGW training center, 4949 Raleigh
LaGrange Road. The conference provides training and networking for grassroots community
leaders. Cost is $5. Register at mlgw.com/serviceleaders or 528-4820.
The Memphis Chapter of Executive Women
International will meet Thursday, Nov. 15, at
5:30 p.m. at Junior Achievement of Memphis,
307 Madison Ave. Cost is $35. R.S.V.P. to Peggy
Oman at [email protected]
by Friday, Nov. 9.
The Memphis/Mid-South Chapter of the
Federal Bar Association will cosponsor the
Memphis Area Legal Services Saturday Legal
Clinic Saturday, Nov. 10, from 9 a.m. to 1 p.m.
at the Benjamin L. Hooks Central Library, 3030
Poplar Ave. Federal Bar members are invited to
participate in the clinic, which is a joint project
of the Memphis Bar Association Access to
Justice Committee and Memphis Area Legal
Services. Contact Justin Ross at justin.ross@
fedex.com or 434-8570.
Saint Francis Hospital Center for Surgical
Weight Loss will host a free information seminar on bariatric surgery Saturday, Nov. 10, at 10
a.m. at the hospital, 5959 Park Ave. Seating is
limited. R.S.V.P. to 765-1849.
LaunchMemphis will host Risk City: Global
Entrepreneurship Week 2012 programs and
networking events Monday, Nov. 12, through
Friday, Nov. 16, at multiple Memphis locations.
The global event connects entrepreneurs with
potential resources and collaborators. Visit
launchmemphis.com for a schedule.
Memphis Urban League will hold its annual
empowerment luncheon Monday, Nov. 12, from
11:30 a.m. to 1 p.m. at Holiday Inn University
of Memphis, 3700 Central Ave. The theme is
“Something is Happening in Memphis.” Email
[email protected].
The University of Memphis will hold a graduate school recruitment fair Monday, Nov. 12,
from 1 p.m. to 6 p.m. in the Michael D. Rose
Theatre on campus. Visit memphis.edu/truebluefuture or call 678-4212.
The Memphis Chapter International Association of Administrative Professionals
will hold its annual fundraiser and silent auction
Monday, Nov. 12, at 6 p.m. at Hilton Memphis,
939 Ridge Lake Blvd. Cost is $22, and proceeds
benefit the IAAP student chapter and education
initiatives. R.S.V.P. to Sharon Gardner at sharon.
[email protected] or 752-6213.
Memphis Center City Revenue Finance
Corp. will meet Tuesday, Nov. 13, at 9 a.m. in
the board’s office in The Crump Building, 114 N.
Main St. Visit downtownmemphiscommission.
com.
The University of Memphis Institute for
Methodist North Hospital will hold a stroke
support group meeting for survivors and caregivers Tuesday, Nov. 13, at 2 p.m. in day room
one at HealthSouth Rehabilitation, 4100 Austin
Peay Highway. Visit methodisthealth.org or call
Connie Holland at 516-5646.
Baptist Women’s Hospital will continue a
wellness seminar series with “Diagnosed With
Diabetes: What Now?” Tuesday, Nov. 13, at 6
p.m. at the Benjamin L. Hooks Central Library,
3030 Poplar Ave. Cost is free. Contact Diane
Jalfon at djalfon@memphislibraryfoundation.
org or 415-2831.
The Memphis Light, Gas and Water Division
board of commissioners will meet Thursday,
Nov. 15, at 1:30 p.m. at the MLGW administration building, 220 S. Main St. Visit mlgw.com for
an agenda.
Downtown Memphis Commission, 5R
Processors Ltd. and Memphis Area Transit
Authority will hold an electronics recycling
drive as part of America Recycles Day Thursday,
Nov. 15, from 3 p.m. to 6:30 p.m. in the Central
Station pavilion at the corner of South Front
Street and West G.E. Patterson Avenue. Visit
5rprocessors.com for a list of accepted items.
The Rotary Club of Memphis East will meet
Wednesday, Nov. 14, at noon at The Racquet
Club of Memphis, 5111 Sanderlin Ave. Tennessee
Department of Safety and Homeland Security
Commissioner Bill Gibbons will speak. Cost
is $17. R.S.V.P. to Lee Hughes at lmhughes@
bellsouth.net.
Kiwanis Club of Memphis will meet Wednesday, Nov. 14, from noon to 1 p.m. at the University Club of Memphis, 1346 Central Ave. Steve
Stone will discuss the partnership between
HeartSong Church and the Memphis Islamic
Center. Cost is $18 for nonmembers.
The Marcus W. Orr Center for the Humanities at the University of Memphis will host
a lecture by Texas A&M University professor
Valerie Hudson titled “Sex and World Peace”
Wednesday Nov. 14, at 6:30 p.m. in the University Center theater. Visit memphis.edu/moch
for details.
Dixon Gallery and Gardens will host its 2012
Phoebe Cook Lecture Thursday, Nov. 15, at 11
a.m. at Dixon, 4339 Park Ave. Joe Fava will present “Enhancing Your Holiday Season With Your
Favorite Treasures.” Visit dixon.org.
The Women’s Council of Realtors Memphis
chapter will meet Thursday, Nov. 15, from 11:30
a.m. to 1 p.m. at the DoubleTree Memphis hotel,
185 Union Ave. Cost is $18. R.S.V.P. to Lauren
Criswell at [email protected] or
260-4780.
Grawemeyer’s German-American Restaurant
& Bar will feature live jazz by Standby for Mars
Friday, Nov. 9, at 8 p.m. at the restaurant, 520 S.
Main St. And it will feature live music by Eddie
Harrison Saturday, Nov. 10, from noon to 3 p.m.
and Sunday, Nov. 11, from 1 p.m. to 4 p.m. at the
restaurant, 520 S. Main St. Call 800-1553.
The Orpheum Theatre will hold its 34th annual
auction Saturday, Nov. 10, at 6:30 p.m. at the
theater, 203 S. Main St. Proceeds from the live
and silent auctions will benefit the new Performing Arts & Leadership Centre. Cost is $100. Visit
orpheum-memphis.com.
A2H will host Jed Zimmerman and Mark Stuart
as part of its Parlor Concert Series Saturday,
Nov. 10, from 8 p.m. to 10 p.m. at the architecture firm’s office, 3009 Davies Plantation
Road. Suggested donation is $15. R.S.V.P. to
[email protected].
The Memphis Young Professionals Network
of the Memphis Association of Realtors will
host a “Break the Ice” event Thursday, Nov. 15,
TIME at Bluefin, 135 S. Main St. Email [email protected].
The Memphis Association of Craft Artists
will hold its Tour of Fine Craft event Saturday,
Nov. 10, from 10 a.m. to 5 p.m. and Sunday,
Nov. 11, from 11 a.m. to 4 p.m. at five stores and
studios across Memphis. Each location will
feature handmade items by local artists. Visit
memphiscrafts.org.
Saint Francis Hospital-Memphis will host
a free seminar on MAKOplasty partial knee
resurfacing Thursday, Nov. 15, at 6:30 p.m. at
the hospital, 5959 Park Ave. Call 765-1849 to
register.
Rhodes College will present the musical “Into
the Woods” Nov. 8 through 11 in the McCoy
Theatre on campus, 2000 North Parkway. Visit
rhodes.edu/mccoy for times and tickets.
» the arts
Germantown Community Theatre will present
the regional premiere of “Twilight of the Gods”
to Nov. 11 at the theater, 3037 Forest Hill-Irene
Road. For more information, visit germantowncommunitytheatre.org or call 754-2680.
Memphis Brooks Museum of Art and Decorative Arts Trust will host author and interior
designer Jeffrey Bilhuber, presenting the Famous Designer Series 2012 lecture, Friday, Nov.
9, at 10:30 a.m. at the museum, 1934 Poplar
Ave. A question-and-answer session will follow
in the Brushmark Restaurant. Tickets are $45
for the lecture, or $85 for the lecture and lunch.
Talk Shoppe will hold a panel titled “Memphis
Real Estate: Where We Are & The Road Ahead”
Wednesday, Nov. 14, from 9 a.m. to 10 a.m. at
the Better Business Bureau, 3693 Tyndale Ave.
Cost is free. Visit talkshoppe.biz.
Sales and Marketing Society of the MidSouth will meet Wednesday, Nov. 14, from 11:30
a.m. to 1 p.m. at The Racquet Club of Memphis,
5111 Sanderlin Ave. Daren Howard, managing
partner for Dale Carnegie Training Inc. franchise
Howard, Mohorn & Associates LLC, will present
“30 Ways to Outsell Your Competition.” Cost for
nonmembers is $25 in advance and $30 at the
door. Visit sms-midsouth.org.
Visit decorativeartstrust.com.
2013
The Orpheum Theatre will host the Blue
Man Group Tuesday, Nov. 13, through Nov. 18
at the theater, 203 S. Main St. Visit orpheummemphis.com or call 525-3000 for showtimes
and tickets.
SEMINAR
SERIES
Mark your calendar for a series of informational
business seminars hosted by The Daily News
and The Memphis News.
FEBRUARY 28
WOMEN & BUSINESS
APRIL 4
HEALTH CARE REFORM
JUNE 6
MONEY & MARKETS: STATE OF THE
ECONOMY
AUGUST 8
HR RULES & LEGAL RAMIFICATIONS
SEPTEMBER 19
HEALTH CARE: STATE OF THE
INDUSTRY
NOVEMBER 7
COMMERCIAL REAL ESTATE REVIEW
AND FORECAST
For information on the seminars or sponsorship opportunities, please contact
Don Fancher at 901-528-5283 or [email protected].
34 November 9-15, 2012
34 November 9 - 15, 2012
public
public notices
notices
Foreclosure Notices
Madison County
NOTICE OF TRUSTEE’S SALE
WHEREAS, default has occurred
in the performance of the covenants,
terms, and conditions of a Deed of Trust
Note dated February 1, 2002, and the
Deed of Trust of even date securing the
same, recorded February 11, 2002, at
Book T1358, Page 263 in Office of the
Register of Deeds for Madison County,
Tennessee, executed by John Long and
Penny Long, conveying certain property
therein described to Mary Frances Rudy
as Trustee for ABN AMRO Mortgage
Group, Inc.; and the undersigned, Wilson
& Associates, P.L.L.C., having been appointed Successor Trustee.
NOW, THEREFORE, notice is hereby
given that the entire indebtedness has
been declared due and payable; and
that an agent of Wilson & Associates,
P.L.L.C., as Successor Trustee, by virtue
of the power, duty, and authority vested
in and imposed upon said Successor
Trustee will, on November 29, 2012 on
or about 11:00 A.M., at the Madison
County Courthouse, Jackson, Tennessee, offer for sale certain property hereinafter described to the highest bidder
FOR CASH, free from the statutory right
of redemption, homestead, dower, and
all other exemptions which are expressly
waived in the Deed of Trust, said property
being real estate situated in Madison
County, Tennessee, and being more
particularly described as follows:
Being Lot Twenty (20) of Whispering
Hills Subdivision, Section II, a plat of
which appears of record in Plat Book
4, at page 339, in the Register’s Office of Madison County, Tennessee,
reference to which plat is made for a
more particular described of said lot
showing it’s boundary lines, including
memberships and/or ownerships of
non-municipal water and/or sewer
systems, if any.
ALSO KNOWN AS: 117 Whispering
Hills Drive, Jackson, Tennessee
38305-8760
The HB 3588 letter was mailed to
the borrower(s) pursuant to Tennessee
Code Annotated 35-5-117. This sale is
subject to all matters shown on any applicable recorded plat; any unpaid taxes;
any restrictive covenants, easements, or
setback lines that may be applicable; any
statutory rights of redemption of any governmental agency, state or federal; any
prior liens or encumbrances as well as
any priority created by a fixture filing; and
to any matter that an accurate survey of
the premises might disclose. In addition,
the following parties may claim an interest in the above-referenced property:
John Long; Penny Long; BancorpSouth;
Shoreline Funding LLC
The sale held pursuant to this Notice
may be rescinded at the Successor
Trustee’s option at any time. The right
is reserved to adjourn the day of the
sale to another day, time, and place
certain without further publication, upon
announcement at the time and place
for the sale set forth above. W&A No.
817-204902
DATED October 19, 2012
WILSON & ASSOCIATES, P.L.L.C.,
Successor Trustee
FOR SALE INFORMATION, VISIT WWW.
MYFIR.COM and WWW.REALTYTRAC.
COM
Oct. 26, Nov. 2, 9, 2012 Fhn11355
WHEREAS, default has occurred in the
performance of the covenants, terms,
and conditions of a Deed of Trust Note
dated May 7, 1999, and the Deed of
Trust of even date securing the same,
recorded May 17, 1999, at Book T1188,
Page 12 in Office of the Register of
Deeds for Madison County, Tennessee,
executed by Michael D. Jones, Jr. and
Michael Jones, conveying certain property therein described to James B. Webb,
Milan, TN 38358 as Trustee for Norwest
Mortgage, Inc.; and the undersigned,
Wilson & Associates, P.L.L.C., having
been appointed Successor Trustee.
Trustee will, on December 13, 2012 on
Beginning at an iron pin in the West
margin of Carruthers Drive, said point
being 102 feet North of the North
margin of Scallions Drive; and runs
thence North with the West margin
of Carruthers Drive a distance of 60
feet to an iron pin; runs thence West
with the South line of Lot Number 3
a distance of 150 feet to an iron pin;
runs thence South a distance of 40
feet to an iron pin at the North corner
of Lot 57 of Browns Heights Addition;
runs thence South 63 degrees and 30
minutes East a distance of 44.8 feet
to an iron pin in the Northwest corner
of Lot Number 1 in said addition; runs
thence East with the North line of
Lot Number 1 a distance of 110 feet
to the point of beginning and being
known as and designated as Lot
Number 2 of Browns Heights Addition
as recorded in Plat Book Number 1,
Page 199 in the Register’s Office of
Madison County, Tennessee.
ALSO KNOWN AS: 3 Carruthers Drive,
Jackson, Tennessee 38301
setback lines that may be applicable;
any statutory rights of redemption of any
governmental agency, state or federal;
any prior liens or encumbrances as well
as any priority created by a fixture filing; and to any matter that an accurate
survey of the premises might disclose.
In addition, the following parties may
claim an interest in the above-referenced
property: Michael D. Jones Jr.; Victoria
Yvette Jones a/k/a Victoria Yvette Harvey; Norwest Mortgage, Inc.; Michael
Jones
1286-54995
Successor Trustee
COM
Oct. 26, Nov. 2, 9, 2012 Fhn11356
terms, and conditions of a Deed of
Trust Note dated August 2, 2005, and
the Deed of Trust of even date securing
the same, recorded August 5, 2005, at
Tennessee, executed by Corey C. How
and Teresa A. Wheetley, conveying
certain property therein described to
Pentecost Gleen and Rudd as Trustee
for Mortgage Electronic Registration
Systems, Inc. acting solely as a nominee
for Freemont Investment & Loan and
Freemont Investment & Loan’s successors and assigns; and the undersigned,
Beginning at an iron pin on the West
margin of Field Dale Drive (25 feet
at right angles from centerline) at
the Southeast corner of Lot 19;
Section V, Dale Acres Subdivision as
recorded in Plat Book 7, Page 114
in the Register’s Office of Madison
County, Tennessee; thence with the
West margin of Field Dale Drive South
3 degrees 39 minutes 39 seconds
West a distance of 119 feet to an
iron pin at the Northeast corner of
Lot 33, Section 1 as recorded in Plat
Book 4, Page 105 in said Register’s
Office; thence with the North line of
Lot 33 North 84 degrees 36 minutes
West a distance of 170 feet to an iron
pin on the East line of Lot 17; thence
with the East line of Lot 17 and 18,
Section V North 2 degrees 41 minutes
54 seconds East a distance of 119.05
feet to a concrete monument at the
Southwest corner of Lot 19; thence
with the South line of Lot 19 South 84
degrees 36 minutes 30 seconds East
a distance of 172 feet to the point
of beginning. Being Lot 35 section
1, Dale Acres Subdivision platted
as aforesaid, as surveyed by David
Ball Land Surveying Company, R.L.S.
Number 943, on April 20, 1998.
ALSO KNOWN AS: 31 Fielddale Drive,
property: Corey C. How; Teresa A.
Wheetley; HSBC Bank USA, National
Association as Indenture Trustee for
FBR Securitzation Trust 2005-3, Callable Mortgage-Backed Notes, 2005-3;
America’s Servicing Co.
1286-155145
Successor Trustee
COM
Oct. 26, Nov. 2, 9, 2012 Fhn11358
dated April 29, 2005, and the Deed of
Deeds for Madison County, Tennessee, executed by Greg Hayes and Kimberly Hayes, conveying certain property
therein described to Arnold M. Weiss,
Esq., Shelby County as Trustee for Wells
Fargo Bank N.A.; and the undersigned,
County Courthouse, Jackson, Tennessee, offer for sale certain property here-
inafter described to the highest bidder
Tract 1: Being Lot 211 Laurel Creek,
Section II as shown on a plat in Plat
Book 8, Page 109, in the Register’s
Office of Madison County, Tennessee.
Tract II: Being Lot No. 210, Section
II, Laurel Creek Subdivision, a plat of
8, Page 109, in the Register’s Office
of Madison County, Tennessee, reference to which plat is made for a more
particular description of said lot.
Tract III: Being Lot No. 324, Section
III, Laurel Creek Subdivision, a plat of
of Madison County, Tennessee, reference to which plat is made for a more
particular description of said lot.
ALSO KNOWN AS: 74 Laurel Creek
Drive, Jackson, Tennessee 38305
Greg Hayes; Kimberly Hayes; Mortgage
Electronic Registration Systems, Inc as
nominee for Southstar Funding, LLC;
First South Bank; Wells Fargo Home
Mortgage a Division of Wells Fargo
Bank NA; Southstar Funding, LLC;
First South Bank; Wells Fargo Home
Mortgage, a Division of Wells Fargo
Bank, N.A.
1286-154147
Successor Trustee
COM
Oct. 26, Nov. 2, 9, 2012 Fhn11357
dated March 31, 2004, and the Deed of
recorded April 1, 2004, at Book T1569,
executed by Ray T. Gonzales and Jamey
Gonzales, conveying certain property
Esq., 208 Adams Avenue, Memphis, TN
38103 as Trustee for Wells Fargo Home
Mortgage, Inc.; and the undersigned,
Beginning at an iron pin in the North
margin of Arlington Street, 30 feet
from the centerline of and being
the Southwest corner of Lot 23 of
Lindsey Place Subdivision, a plat of
of Madison County, Tennessee said
iron pin being 100 feet West of the
West margin of Campbell Street;
runs thence with the North margin of
Arlington Street, South 89 degrees 16
minutes 10 seconds West 50 feet to
an iron pin being the Southeast corner of Lot 21 of the above described
subdivision; runs thence with the East
lien of Lot 21; due North 155 feet to
an iron pin in the South margin of a
15 foot alley; runs thence with the
South margin of said alley; North
89 degrees 16 minutes 10 seconds
East 50 feet to a fence corner being
the Northwest corner of Lot 23; runs
thence with the West line of Lot 23,
due South 155 feet to the point of
beginning as surveyed by Surveying
Services R.L.S. Number 1420 dated
March 31, 1992, and being Lot 22
of the above described Lindsey Place
Subdivision.
ALSO KNOWN AS: 409 Arlington
Avenue, Jackson, Tennessee 383014816
as any priority created by a fixture filing;
and to any matter that an accurate survey
of the premises might disclose. In addition, the following parties may claim an
interest in the above-referenced property: Ray T. Gonzales; Jamey Gonzales;
C&R Investments, Inc; City of Jackson;
Midland Funding NCC-2 Corp
1286-180020
Successor Trustee
COM
Oct. 26, Nov. 2, 9, 2012 Fhn11359
terms, and conditions of a Deed of Trust
Note dated August 14, 2007, and the
Deed of Trust of even date securing
the same, recorded August 15, 2007,
at Book T1808, Page 1692 in Office
of the Register of Deeds for Madison
County, Tennessee, executed by Olin
Ellsworth, conveying certain property
Esq. as Trustee for Wells Fargo Bank,
N.A.; and the undersigned, Wilson &
Associates, P.L.L.C., having been appointed Successor Trustee.
Beginning on a point in the South
margin of Ashport Road, which point
is the Northeast corner of Drake and
the Northwest corner of the herein
described tract; thence from the point
of beginning, and with the South line
of Ashport Road, North 88 degrees
November99-15,
2012 35
November
- 15, 2012
35
public
public notices
notices
00 minutes 00 seconds East 186.00
feet to the Northwest corner of Pace;
thence with the West line of Michael
Pace, then J. C. Pace, South 291.00
feet to the Northeast corner of Drake;
thence with Drake the following calls:
South 88 degrees 00 minutes 00
seconds West 212.80 feet; North 05
degrees 14 minutes 31 seconds East
293.16 feet to the point of beginning,
containing 1.33 acres.
ALSO KNOWN AS: 170 Ashport Road,
Humboldt, Tennessee 38343-8100
Olin Ellsworth; First Tennessee Bank
National Association
1286-213376
Successor Trustee
COM
Oct. 26, Nov. 2, 9, 2012 Fhn11360
dated February 28, 2006, and the Deed
of Trust of even date securing the same,
recorded March 8, 2006, at Book T1742,
executed by Wendy Bishop, Lee Bishop
and Wendy Bishop, conveying certain
property therein described to First Title
Corporation as Trustee for Mortgage
Electronic Registration Systems, Inc.,
a separate corporation that is acting
solely as a nominee for BNC Mortgage,
Inc., A Delaware Corporation and BNC
Mortgage, Inc, A Delaware Corporation’s successors and assigns; and
the undersigned, Wilson & Associates,
P.L.L.C., having been appointed Successor Trustee.
Beginning at an iron pin on the South
margin of Holiday Drive (35 feet at
right angles from centerline) at the
Northwest corner of Lot 85, Section
A, Holiday Gardens Subdivision, as
recorded in Plat Book 1, Page 262,
County, Tennessee; thence with the
West line of Lot 85 South 0 degrees
09 minutes West, a distance of 130
feet to a post on the North line of Lot
84; thence with the North line of Lots
84 and 80 West a distance of 100
feet to an iron pin at the Southeast
corner of Lot 81; thence with the
East line of Lot 81 North 0 degrees
09 minutes East a distance of 130
feet to a post on the South margin
of Holiday Drive; thence with the
South margin of Holiday Drive East
a distance of 100 feet to the point of
beginning. Being Lot 83, Section A,
Holiday Gardens Subdivision, platted
as aforesaid.
ALSO KNOWN AS: 98 Holiday Drive,
property: Wendy Bishop; Lee Bishop;
JLN Services, LLC; The City of Jackson;
Wendy Bishop
725-202960
Successor Trustee
COM
Nov. 2, 9, 16, 2012
Fhn11371
terms, and conditions of a Deed of
Trust Note dated March 11, 2010, and
the Deed of Trust of even date securing
the same, recorded March 19, 2010, at
Tennessee, executed by Eugene D. Williams, conveying certain property therein
described to Carter, Stanfill, & Assoc.,
PLLC as Trustee for Mortgage Electronic
Registration Systems, Inc., as nominee
for American Financial Resources, Inc.,
a New Jersey Corporation, its successors and assigns; and the undersigned,
Lot Number 83 in Section V of Skyview
Estates, a plat of which appears of
record in Plat Book 3, Page 47, in the
Register’s Office of Madison County,
Tennessee.
ALSO KNOWN AS: 165 Sunvalley
Drive, Jackson, Tennessee 38305
property: Eugene D. Williams
931-228375
Successor Trustee
COM
Nov. 2, 9, 16, 2012
Fhn11372
NOTICE OF FORECLOSURE SALE
MADISON COUNTY, STATE OF TENNESSEE
THIS IS AN ATTEMPT TO COLLECT
A DEBT. ANY INFORMATION OBTAINED
WILL BE USED FOR THAT PURPOSE.
Default has been made in the terms,
conditions and payments provided for in
that certain Deed of Trust dated February 2, 2006, of record in Deed Book
/ Page Number T1737 / 387, Instrument 06002532, Register’s Office for
Madison County, Tennessee, from Larry
Anderson (Borrower) to J. PHILLIP JONES
(Trustee) for the benefit of MORTGAGE
ELECTRONIC REGISTRATION SYSTEMS,
INC., AS NOMINEE FOR NOVASTAR
MORTGAGE, INC. (Lender), securing the
Note/indebtedness therein described,
the entire Note/indebtedness having
been declared in default and immediately
due and payable by the lawful owner and
holder thereof.
THE BANK OF NEW YORK MELLON
F/K/A THE BANK OF NEW YORK, AS
SUCCESSOR TRUSTEE FOR JPMORGAN CHASE BANK, N.A., AS TRUSTEE
FOR NOVASTAR MORTGAGE FUNDING
TRUST, SERIES 2006-1 NOVASTAR
HOME EQUITY LOAN ASSET-BACKED
CERIFICATES, SERIES 2006-1 (Holder),
now being the present owner/holder of
said indebtedness, has now requested
that foreclosure proceedings be instituted, and said Holder has appointed
the firm listed below as Successor
Trustee under said Deed of Trust, by an
instrument duly recorded in the aforesaid
records, to serve in the place and stead
of the aforementioned Trustee. Notice
of the Right to Foreclose was sent to
the Borrower by letter dated August
21, 2012.
NOW, THEREFORE, said Successor
Trustee, or agent thereof, pursuant to
said Deed of Trust, having been requested by the Holder so to do, and by
virtue of the authority and power vested
in said Successor Trustee by said Deed
of Trust, will on December 4, 2012 at
1:00 p.m., at the usual and customary
location at the Madison County, Tennessee, Courthouse, sell at public outcry
to the highest bidder for cash (or credit
upon the indebtedness secured if the
lawful owner and holder thereof is the
successful purchaser), the followingdescribed property:
SITUATED IN THE 5TH CIVIL DISTRICT
OF MADISON COUNTY, TENNESSEE,
AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT A STAKE IN THE
SOUTHERLY MARGIN OF LANWAY COVE
AT THE NORTHEAST CORNER OF LOT
NO.50 IN SECTION IV OF LANDMARK
ESTATES, A PLAT OF WHICH APPEARS
OF RECORD IN PLAT BOOK 3, PAGE
98, REGISTER’S OFFICE OF MADISON
COUNTY, TENNESSEE; RUNS THENCE
SOUTH 40 DEG. 14.9 MIN. WEST WITH
THE EASTERLY MARGIN OF SAID LOT NO.
50 A DISTANCE OF 183.9 FEET, MORE
OR LESS, TO A STAKE; THENCE SOUTH
24 DEG. 13.5 MIN. EAST A DISTANCE
OF 110 FEET TO A CONCRETE CORNER
MARKER, THENCE NORTH 37 DEG. 47
MIN. EAST, WITH THE WESTERLY LINE OF
SAID LOT NO. 52 A DISTANCE OF 243.1
FEET TO A STAKE IN THE SOUTHERLY
MARGIN OF LANWAY COVE; THENCE IN A
NORTHWESTERLY DIRECTION WITH THE
SOUTHERLY MARGIN OF LANWAY COVE
AND FOLLOWING THE CURVE THEREOF
A DISTANCE OF 90 FEET TO THE POINT
OF BEGINNING. BEING LOT NO. 51 IN
SECTION IV OF LANDMARK ESTATES,
PLATTED AS AFORESAID.
BEING THE SAME PROPERTY
CONVEYED TO LARRY ANDERSON, BY
WARRANTY DEED FROM W. DALE WOOD
AND WIFE, ETHEL IRENE WOOD, DATED
9-20-95 AND RECORDED 10-2-95 IN
BOOK 556, PAGE 683, REGISTER’S
OFFICE FOR MADISON COUNTY, TENNESSEE.
SUBJECT TO ALL MATTERS SHOWN
ON PLAT OF RECORD IN PLAT BOOK
3, PAGE 98, REGISTER’S OFFICE FOR
MADISON COUNTY, TENNESSEE.
TAX ID: 055I-B-018.00
For informational purposes only,
this property is commonly known as
15 Lanway Cove, Jackson, TN 38305,
Parcel ID 055I B 01800 000359.
The property shall be free from all
right and equity of redemption, statutory or otherwise, homestead, dower,
curtesy, elective share, and all other
exemptions that are expressly waived
in said Deed of Trust, and the title is
believed to be good, but the Successor
Trustee will sell and convey only as
Successor Trustee, “as is” and “where
is” and without covenants of seizin or
warranties of title.
Listing of Subordinate Lien holders:
Discover Bank
C/O Nicholas H. Adler
Zwicker & Associates P.C.
5409 Maryland Way, Suite 333
Brentwood, TN 37027
Listing of Other Interested Parties:
N/A
This sale is subject to liens; easements; encumbrances; property taxes;
rights of redemption of taxing entities;
all matters shown on any recorded
plan(s) or plat(s); any unpaid taxes;
any restrictive covenants, easements
or setback lines that may be applicable;
any matter that an accurate survey of
the premises might disclose; and other
matters which are prior in right to the lien
of the aforesaid Deed of Trust.
If a high bidder fails to close a sale,
the Successor Trustee shall have the
option of making the sale to the next
highest bidder. The sale held pursuant
to this Notice may be rescinded at
the Successor Trustee’s option at any
time. The right is reserved to adjourn
the sale to another day, time and/or
place certain without further publication,
upon announcement at the time and
place for the sale set forth above, or at
any date and time fixed by a preceding
postponement. Alternatively, at its option, Successor Trustee may give a new
notice of sale.
Weissman Nowack Curry & Wilco,
PC
One Alliance Center, 4th Floor
3500 Lenox Road
Atlanta, GA 30326
(866) 960-8298
File #: 014719
Nov. 9, 16, 23, 2012
Fhn11375
MADISON COUNTY, STATE OF TENNESSEE
conditions and payments provided for
in that certain Deed of Trust dated
February 06, 2007, of record in Deed
Book/Page Number T1789 / 340, Instrument 07002392, Register’s Office
for Madison County, Tennessee, from
Trevis Thompson and Robbie Thompson
(Borrower) to NLC, INC. (Trustee) for
the benefit of MORTGAGE ELECTRONIC
REGISTRATION SYSTEMS, INC., AS
NOMINEE FOR FIRST NLC FINANCIAL
SERVICES, LLC (Lender), securing the
Related Info
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day for public notices for Memphis &
Shelby County.
Go to www.memphisdailynews.com or
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Note/indebtedness therein described,
the entire Note/indebtedness having
been declared in default and immediately
due and payable by the lawful owner and
holder thereof.
DEUTSCHE BANK NATIONAL TRUST
COMPANY, AS TRUSTEE FOR MORGAN
STANLEY STRUCTURED TRUST I 2007-1
ASSET-BACKED CERTIFICATES, 2007-1
(Holder), now being the present owner/
holder of said indebtedness, has now
requested that foreclosure proceedings be instituted, and said Holder
has appointed the firm listed below as
Successor Trustee under said Deed of
Trust, by an instrument duly recorded in
the aforesaid records, to serve in the
place and stead of the aforementioned
Trustee. Notice of the Right to Foreclose
was sent to the Borrower by letter dated
May 30, 2012.
Trustee, or agent thereof, pursuant
to said Deed of Trust, having been
requested by the Holder so to do, and
by virtue of the authority and power
vested in said Successor Trustee by
said Deed of Trust, will on December
04, 2012 at 1:00 p.m., at the usual
and customary location at the Madison
County, Tennessee, Courthouse, sell at
public outcry to the highest bidder for
cash (or credit upon the indebtedness
secured if the lawful owner and holder
thereof is the successful purchaser), the
following-described property:
BEGINNING AT AN IRON PIN ON THE
WEST MARGIN OF BUTTONWOOD DRIVE
(25 FEET AT RIGHT ANGLES FROM CENTERLINE) AT THE SOUTHEAST CORNER
OF LOT 413, SECTION IV, SYCAMORE
BEND SUBDIVISION, AS RECORDED IN
PLAT BOOK 5, PAGE 181, IN THE REGISTER’S OFFICE OF MADISON COUNTY,
TENNESSEE; THENCE WITH THE WEST
MARGIN OF BUTTONWOOD DRIVE
SOUTH A DISTANCE OF 90 FEET TO A
POINT IN A CULVERT AT THE NORTHEAST
CORNER OF LOT 411; THENCE WITH
THE NORTH LINE OF LOT 411 WEST A
DISTANCE OF 190 FEET TO AN IRON
PIN AT THE SOUTHEAST CORNER OF
SECTION II; THENCE WITH THE EAST
LINE OF SECTION II NORTH A DISTANCE
OF 90 FEET TO AN IRON PIN AT THE
SOUTHWEST CORNER OF LOT 413;
THENCE WITH THE SOUTH LINE OF LOT
413 EAST A DISTANCE OF 190 FEET TO
THE POINT OF BEGINNING. BEING LOT
412, SECTION IV, SYCAMORE BEND
SUBDIVISION, PLATTED AS AFORESAID,
AS SURVEYED BY DAVID HALL LAND
SURVEYING COMPANY ON JUNE 13,
1991. (LEGAL DESCRIPTION TAKEN
FROM PRIOR DEED.)
BEING THE SAME REAL ESTATE
CONVEYED TO TREVIS THOMPSON AND
WIFE, ROBBIE THOMPSON, BY DEED
OF RECORD IN DEED BOOK 685, PAGE
1946, IN THE REGISTER’S OFFICE FOR
MADISON COUNTY, TENNESSEE.
Continued on page 36
Thoughtful
Interesting
Concise
blog.memphisdailynews.com
36 November 9-15, 2012
36 November 9 - 15, 2012
public notices
public notices
Foreclosure Notices
Continued from page 35
For informational purposes only, this
property is commonly known as 312
Buttonwood Drive, Jackson, TN 38305,
Parcel ID 043C C 01200 000000.
courtesy, elective share, and all other
is” and without covenants of seizing or
Listing of Subordinate Lienholders:
Joel Juta Chow and wife, Julie
Amelia Chow
N/A
notice of sale.
Weissman Nowack Curry & Wilco,
PC
3500 Lenox Road
Atlanta, GA 30326
(866) 960-8298
File #: 013535
Nov. 9, 16, 23, 2012
Fhn11376
dated October 9, 2007, and the Deed
of Trust of even date securing the same,
recorded October 11, 2007, at Book
T1814, Page 88 in Office of the Register
of Deeds for Madison County, Tennessee, executed by Otha L. Joy, conveying
certain property therein described to
Atty. Arnold M. Weiss, a Resident of
Shelby County, as Trustee for Mortgage
Electronic Registration Systems, Inc., as
nominee for Homecomings Financial,
LLC (F/K/A Homecomings Financial
Network, Inc.) and Homecomings
Financial, LLC (F/K/A Homecomings
Financial Network, Inc.)’s successors
and assigns; and the undersigned,
Beginning at an existing iron pin in
the North margin of Aztec Drive, said
point being the Southeast corner of
Lot Number 4 in Section III of Windy
Acres Subdivision, a plat of which
appears of record in Plat Book 3, at
Page 291, in the Register’s Office
of Madison County, Tennessee, and
runs thence North 86 degrees 41.3
minutes East, with the North margin
of Aztec Drive, 100 feet to an existing
iron pin; thence North 03 degrees
05.9 minutes West 180.43 feet to
a point; thence South 89 degrees
54.1 minutes West 55 feet to an
existing concrete monument: thence
South 76 degrees 51.4 minutes West
45.75 feet to the Northeast comer
of Lot Number 4; thence South 03
degrees 06.9 minutes East, with the
East line of Lot Number 4, 172.82
feet to the point of beginning. Being
Lot Number 3 in Section III of Windy
Acres Subdivision.
ALSO KNOWN AS: 83 Aztec Drive,
property: Otha L. Joy; Unknown Heirs
of Glenora Harber; Glenora Harber
902-227949
DATED November 6, 2012
Successor Trustee
COM
Nov. 9, 16, 23, 2012
Fhn11377
dated April 27, 2007, and the Deed of
executed by Jacqueline Cobbins and Vernon Cobbins, conveying certain property
therein described to Mark A. Rosser,
Esq., c/o First American as Trustee
for Mortgage Electronic Registration
Systems, Inc., as nominee for Lehman
Brothers Bank, FSB, a Federal Savings
Bank, its successors and assigns; and
the undersigned, Wilson & Associates,
P.L.L.C., having been appointed Successor Trustee.
The following described lot or parcel of
real estate lying and being in Madison
County, Tennessee, and more particularly described as follows:
Beginning at an iron pin set in the
North margin of Browns Church Road,
which point is the Southwest corner of
Garry Harvey and is the Southeast corner of the herein described tract;
Thence from the point of beginning
and with the North margin of Browns
Church Road, South 53 degrees 36
minutes 37 seconds West 306.55
feet to the North margin of Browns
Church Road;
Thence, following a curve having a
radius of 25.00 feet for a distance
of 39.27 feet to the East margin of
Austin Cove;
Thence, with the East margin of
Austin Cove, North 36 degrees 23
minutes 23 seconds West 116.38
feet to the Southwest corner of
Lot 16;
Thence, with the South line of Lot
16, North 53 degrees 36 minutes
37 seconds East 332.45 feet to the
West line of Harvey;
Thence, with the West line of Harvey, South 36 degrees 01 minutes
29 seconds East 141.38 feet to the
point of beginning.
Being Lot 17, Dowdy Estates Subdivision, in Plat Book 6, Page 172,
County, Tennessee, as surveyed by
Reasons Engineering and Associates, Inc.; Registered Land Surveyor
Number 508.
ALSO KNOWN AS: 10 Austin Cove,
property: Jacqueline Cobbins; Vernon
Cobbins; Jackson Energy Authority
931-228765
DATED November 5, 2012
Successor Trustee
COM
Nov. 9, 16, 23, 2012
Fhn11378
NOTICE OF SUBSTITUTE TRUSTEE’S
SALE
performance of the covenants, terms
and conditions of a Deed of Trust dated
January 26, 2006, executed by LEE
BISHOP AND WIFE, WENDY BISHOP,
conveying certain real property therein
described to TEEL MCCORMACK AND
MARONEY PLC as same appears of
record in the Register’s Office of Madison County, on January 30, 2006, as
Instrument No. 06001653, in Book
T1734, at Page 48; and WHEREAS,
the beneficial interest of said Deed of
Trust was last transferred and assigned
to DEUTSCHE BANK NATIONAL TRUST
COMPANY, AS TRUSTEE FOR THE HOLDERS OF THE FIRST FRANKLIN MORTGAGE
LOAN TRUST 2006-FF5, MORTGAGE
PASS- THROUGH CERTIFICATES, SERIES 2006-FF5, who is now the owner
of said debt; and WHEREAS, Notice of
the Right to Foreclose (“Notice”) was
given in compliance with Tennessee
law by the mailing a copy of the Notice
to the parties at least sixty (60) days
prior to the first publication of the
Substitute Trustee’s Sale. WHEREAS,
the undersigned, RECONTRUST COMPANY, N.A., having been appointed by
as Substitute Trustee by instrument
filed for record in the Register’s Office
of Madison County, Tennessee NOW,
THEREFORE, notice is hereby given
that the entire indebtedness has been
declared due and payable, and that the
undersigned, RECONTRUST COMPANY,
N.A., as Substitute Trustee or its duly
appointed agent, by virtue of the power,
duty and authority vested and imposed
upon said Substitute Trustee will, on
December 3, 2012, 10:00 AM at the
Madison County courthouse door where
the foreclosure sales are customarily
held At the Madison County Courthouse,
Jackson, TN, proceed to sell at public
outcry to the highest and best bidder for
cash, the following described property
situated in Madison County, Tennessee, to wit: BEGINNING AT A POINT ON
THE WEST MARGIN OF LIDDON STREET
680.6 FEET MORE OR LESS NORTH
OF THE NORTH MARGIN OF CHESTER
STREET AT THE SOUTHEAST CORNER
OF THE EDITH LIDDON SUBDIVISION
THENCE WITH THE WEST MARGIN OF
LIDDON STREET NORTH 50 FEET TO A
POINT; THENCE WEST 150 FEET THENCE
SOUTH 50 FEET; THENCE EAST 150 FEET
TO THE POINT OF BEGINNING. PARCEL
# 78M-G-19.01 PROPERTY ADDRESS:
The street address of the property is
believed to be 55 LIDDON ST, JACKSON,
TN 38301. In the event of any discrepancy between this street address and
the legal description of the property, the
legal description shall control. CURRENT
OWNER(S): WENDY BISHOP, AKA WENDY N. BISHOP, AKA WENDY NEWMAN
BISHOP OTHER INTERESTED PARTIES:
1). MERIT MANAGEMENT, LLC, 2), THE
CITY OF JACKSON, HOUSING CODES
3). LEE BISHOP The sale of the abovedescribed property shall be subject
to all matters shown on any recorded
plat; any unpaid taxes; any restrictive
covenants, easements or set-back lines
that may be applicable; any prior liens
or encumbrances as well as any priority created by a fixture filing; and to any
matter that an accurate survey of the
premises might disclose. This property
is being sold with the express reservation that it is subject to confirmation by
the lender or Substitute Trustee. This
sale may be rescinded at any time. The
right is reserved to adjourn the day of
the sale to another day, time, and place
for the sale set forth above. All right
and equity of redemption, statutory or
otherwise, homestead, and dower are
expressly waived in said Deed of Trust,
and the title is believed to be good, but
the undersigned will sell and convey only
as Substitute Trustee. The Property is
sold as is, where is, without representations or warranties of any kind, including
fitness for a particular use or purpose.
RECONTRUST COMPANY, N.A. IS ATTEMPTING TO COLLECT A DEBT. ANY
INFORMATION OBTAINED WILL BE USED
FOR THAT PURPOSE. RECONTRUST
COMPANY, N.A., Substitute Trustee
2380 Performance Dr, TX2-984-0407
Richardson, TX 75082 Tel: (800) 2818219 Fax: (866) 681-5002 Registered
Agent: CT Corporation System 800 South
Gay Street, Suite 2021 Knoxville, TN
37929 Tel: (865) 342-3522 TS#:100168306
FEI#1006.170660
Nov. 10, 17, 24, 2012
Fhn11379
Foreclosure Notices
Tipton County
TIPTON COUNTY, STATE OF TENNESSEE
conditions and payments provided for in
that certain Deed of Trust dated March
01, 2005, of record in Deed Book/Page
Number 1192/687, Instrument 69525,
Register’s Office for Tipton County,
Tennessee, from Van Jones and Julia
Jones (Borrower) to ARNOLD M. WEISS
(Trustee) for the benefit of MORTGAGE
ELECTRONIC REGISTRATION SYSTEMS,
INC., AS NOMINEE FOR FIDELITY MORTGAGE, INC. (Lender), securing the Note/
indebtedness therein described, the
entire Note/indebtedness having been
declared in default and immediately due
and payable by the lawful owner and
holder thereof.
HSBC BANK USA, N.A., AS INDENTURE TRUSTEE FOR THE REGISTERED
HOLDERS OF THE RENAISSANCE HOME
EQUITY LOAN ASSET-BACKED CERTIFICATES, SERIES 2005-1 (Holder), now
being the present owner/holder of said
indebtedness, has now requested that
foreclosure proceedings be instituted,
and said Holder has appointed the firm
listed below as Successor Trustee under
said Deed of Trust, by an instrument duly
recorded in the aforesaid records, to
serve in the place and stead of the aforementioned Trustee. Notice of the Right
to Foreclose was sent to the Borrower
by letter dated August 17, 2012.
Trustee, or agent thereof, pursuant to
said Deed of Trust, having been requested by the Holder so to do, and by
virtue of the authority and power vested
in said Successor Trustee by said Deed
of Trust, will on December 04, 2012 at
1:00 p.m., at the usual and customary
location at the Tipton County, Tennessee, Courthouse, sell at public outcry
to the highest bidder for cash (or credit
upon the indebtedness secured if the
lawful owner and holder thereof is the
successful purchaser), the followingdescribed property:
LOT 1, GILTEDGE ESTATES SUBDIVISION, AS SHOWN ON PLAT OF
RECORD IN PLAT CABINET F, SLIDE 1,
IN THE REGISTER’S OFFICE OF TIPTON
COUNTY, TENNESSEE, TO WHICH PLAT
REFERENCE IS HEREBY MADE FOR A
MORE PARTICULAR DESCRIPTION OF
SAID LOT.
THIS CONVEYANCE IS MADE SUBJECT TO THE SUBDIVISION RESTRICTIONS, BUILDING SETBACK LINES AND
EASEMENTS OF RECORD IN PLAT CABINET F, SLIDE 1, BOOK 869, PAGE 438
AND DEED RESTRICTIONS OF RECORD
AT BOOK 1010, PAGE 891, OF THE
AFORESAID REGISTER'S OFFICE.
BEING THE SAME PROPERTY CONVEYED TO VAN JONES AND WIFE, JULIA
JONES, BY DEED DATED DECEMBER
27, 2002, FROM JACK S. HALL JR. AND
WIFE, MARY HALL, OF RECORD IN BOOK
1041, PAGE 481, OFFICE OF THE TIPTON
COUNTY COURT CLERK.
PARCEL NO: 0290.A-001.00
COMMONLY KNOWN AS: 4652 JAMESTOWN RD., BURLISON, TN 38015
For informational purposes only, this
property is commonly known as 4652
Jamestown Road, Burlison, TN 38015,
Parcel ID 029O A 00100 000000.
courtesy, elective share, and all other
is” and without covenants of seizing or
Listing of Subordinate Lienholders: N/A
N/A
notice of sale.
Weissman Nowack Curry
& Wilco, PC
3500 Lenox Road
Atlanta, GA 30326
(866) 960-8298
File #: 014766
Nov. 9, 16, 23, 2012
Fhn11374
November 9-15, 2012 37
public notices
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with The Daily News Online Custom List Builder tool!
ONLINE SERVICES
Would you like to market your services to New Homeowners in specific areas? Or see a list of
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Contact Wendy Greenlaw at 901.528.5273 or
[email protected] for a quote or to learn more!
38 November 9-15, 2012
opinion
2013 is the Right Year
For Election Reform
S
helby County needs a
change in those running the
election machinery.
The time for a change
will never be better because
2013 is supposed to be an
off-election year.
It is also the year before the “big ballot” – the once-every-eight-year ballot
that includes judicial races and those
for other offices that have an eight year
term of office. It is the longest ballot in
terms of races and candidates of any
election cycle in Shelby County.
Imagine the completely avoidable
problems that plagued the August elections with that ballot and it is much
easier to understand how crucial it is
that the ongoing election syndrome
present at the Shelby County Election
Commission comes to an end.
State law in Tennessee may say
that an election challenge is only valid
if there are enough disputed votes to
change the outcome of the race. But
the standard is much higher if not as
enforceable when it comes to voter
confidence.
And if partisans on both sides could
stop trying to exploit these problems
and point them like daggers at those
on the other side for imagined political
advantage, we could begin to repair the
tattered fabric of voter confidence in
this county.
If that sounds like a parallel to national calls for warriors of both parties
to put aside partisan differences to work
toward solutions, we won’t complain.
Nationally as well as locally we can-
not afford the luxury of political professionals using real issues and problems
as a storyline for their version of professional wrestling. There is no mandate
and, more importantly, no change when
continuing the storyline with the same
cast is the real goal.
What hasn’t changed is the attitude
that is at the heart of a cumulative
problem of attitude and philosophy.
When problems cropped up in Millington toward the end of the early voting
period, the response from election officials was that this didn’t affect a lot of
voters. In August the response was that
the problems would be straightened out
before election day.
The standard for winning back the
confidence of voters in Shelby County is
an accountable, responsible process for
every voter – not most, not virtually all –
every voter.
We also suggest a working single
source of election returns on a website
whose goal is not to hide vital and basic
information.
And the release of those election returns starting with the early vote as soon
as the last voter has voted – not after
that voter has had a bite to eat, watched
a bit of television and gone to bed for
the night.
And let’s try to get the precincts to
some kind of ballpark average in terms
of the number of voters in each one.
The uneven size and political peculiarities created some of the redistricting
problems that were responsible for the
August election problems – along with a
healthy dose of ineptness.
Host a Beneficial Watch Party
These watch parties are perfect for
Last week we shared the
football and basketball games, any type
exciting news that “Memphis Rocks”
of television show or awards show, or
is now a category at the 14th annual
even a movie night at your house. You
Memphis International Film & Music
can also apply this same concept to a
Festival, taking place April 25-28, 2013.
birthday party, backyard cookout, or
This gives us a catch-all category and
swim party, once the weather
platform to share our
heats back up. The exciting
perspectives on what
thing is that a “beneficial
makes Memphis great and
watch party” works well with
to showcase the amazing
everyone at all ages. I have
work you, your company,
heard great success stories
nonprofit, or school are
with families and college
doing in the community.
students equally raising
This week, with football
Jeremy Park hundreds and even thousands
season in high gear and
giving back
of dollars by hosting these
basketball season tiptypes of events. In fact, one friend who
ping off, let us revisit one of the original
has been hosting these over the last
thoughts that kicked off this “Giving
two years throughout the entire football
Back” column more than two years ago:
season has already been able to raise
the power of hosting a “beneficial watch
and contribute over $10,000!
party.”
Just as important, know that you are
The “beneficial watch party” is a
also helping to raise general awaretime-tested favorite when it comes to
ness for the organization. Having some
weaving giving back into your everyday
literature on hand, directing your family
life. Every weekend now presents a
and friends to a website, and personprime opportunity to have fun watchally sharing your story or testimonial on
ing your favorite games while easily and
effectively raising money and awareness why you selected the nonprofit will open
great doors of possibilities for the fufor a nonprofit you support. The plan
ture. The other key is that you are acting
is simple: host a watch party at your
house and invite your family and friends, as a role model and encouraging others
to do something similar where they can
telling them in advance that the event
weave giving back into their normal day
will benefit your selected nonprofit. As
and life.
host, you provide the normal food and
So, as you start planning ahead for
drinks, but ask attendees to consider
this weekend or next, consider helping
donating what they would typically
others by hosting your own “beneficial
spend on lunch or dinner to the nonwatch party.”
profit. You will be pleasantly surprised
Jeremy Park, director of the Lipscomb
how much money one of these events
Pitts Breakfast Club, can be reached at
can raise. It will also warm your heart
[email protected] and followed
knowing that whether your team wins
on Twitter (@lpbreakfastclub) and Faceor loses, your event is a true victory in
book (facebook.com/lpbreakfastclub).
blessing others.
Boy Scouts Must Honor Own Motto: Be Prepared
PROTECT THE SCOUTS, NOT THE
institution.
Scouts are at risk, not just from the
sick, twisted creatures who would prey
on them – documented in print, on air
and online – but from adults who have
twisted the truth and continue to excuse
the inexcusable if not in fact, in effect.
Allowing even one of these monsters a
pass, not turning them over to the police, is a monstrous crime in and of itself.
And the monster grows even larger, even
more dangerous with every revelation of
omission and every buried file.
The Boy Scouts of America is an
institution. The boy scouts of America
are boys. Therein lies the difference. Institutions tend to be large, bureaucratic,
slow, secretive, regimented things, defensive of the status quo to the point of
combative, fearful of change to the point
of destructive. Boys aren’t.
When the interests of the institu-
MEMPHASIS
dan conaway
tion and the protection of its image
are deemed more important than the
interests and protection of children, then
the institution is becoming hollow at the
core, empty of purpose.
Penn State University can teach the
Boy Scouts a lesson here; the Roman
Catholic Church can lead them in prayer
in this regard.
In sanctimonious discrimination
against gays, in violation of the BSA’s
special federal charter, the institution
publicly addresses a non-threat while
real pedophiles caught roaming their
campsites are kept private. Gays are no
more threatening in the ranks of scouting than they are in the military, no more
likely as adults to attack little boys than
straight men are to attack little girls.
The Boy Scouts are getting lost in
the dark woods of denial. It’s time for
boy scouts to lead them out.
In my own years as a scout, a scout
parent and a scoutmaster, I never saw,
suspected or heard of any of the predatory acts we’ve been hearing about.
I did see countless examples of boys
learning to become men, of shy and
clumsy uncertainty turning into selfassured, self-reliant leadership. I saw
them conquer roaring rivers and sheer
cliffs and their own fears, walk through
mountain meadows and sleep that night
on snow-covered summits knowing they
can go as high as they want. I saw boys
left to their own devices, left to rely on
each other and their wits, do things they
never thought they could do, build things
together they could never build alone.
I also saw way too many adults way
too far into their patches and pins, belts
and buckles, jackets and jargon. I saw
way too many men claiming leadership
for leadership’s sake, looking for their
own recognition and acceptance at the
expense of the boys they’re supposed to
mentor – patch-covered metaphors for
what the institution is becoming.
While I don’t defend for a second the
institution, I do defend scouting, I fear
for its loss, and I beg the Boy Scouts of
America to come back to boy scouts, to
return to base camp.
I’m a Memphian, and my son and I
are Eagle Scouts. And we’re better for it.
Dan Conaway is a lifelong Memphian, longtime adman and aspiring
local character in a city known for them.
Reach him at dan@wakesomebodyup.
com.
November 9-15, 2012 39
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