The Commercial Appeal (Memphis, TN) articles from May 2001

The Commercial Appeal (Memphis, TN) archives from May 2001

Coffee Bar Opens to Rave Reviews in Memphis, Tenn.
May 1, 2001... Byline: Linda A. Moore May 1--The decor at The Daily Grind, a newly opened coffee bar in the Claridge House at 111 N. Main at Adams, is a mixture of wood, warm beige and black, with classical touches like antique gold wall plaques with a...

Memphis, Tenn., Mayor Announces Creation of Fund to Help Construction.
May 1, 2001... Byline: Jerome Obermark May 1--A $1 million fund was established Tuesday to provide below-marketrate construction loans to affordable housing developers in Memphis. The initial funding consists of $200,000 in grant money and $800,000...

Arlington, Tenn., Medical Group Looks to Raise Millions in Initial Offering.
May 1, 2001... Byline: Christopher Barton May 1--Even though capital markets are tight, Wright Medical Group Inc. of Arlington, Tenn., said it plans to raise $132.25 million through an initial public stock offering. The global orthopedic device maker...

Memphis, Tenn.-Based Storage Firm to Elect New Directors.
May 1, 2001... May 1--Storage USA Inc., a Memphis-based self storage facilities development and management real estate investment trust, will elect nine directors at the shareholders' annual meeting at 4 p.m. today at 175 Toyota Plaza. All nine nominees...

Former Memphis, Tenn., Credit Union President Banned from Industry.
May 3, 2001... Byline: David Flaum May 3--The former president of a Memphis credit union has agreed to an order banning him from the federal credit union industry. Kenneth Greenidge, former president of Imani Federal Credit Union, consented to the...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
May 3, 2001... Byline: David Flaum May 3--QUESTION: Is it possible to convert a Roth IRA back into a traditional IRA? The Roth IRA was converted from a traditional IRA in 1998 and has since nose-dived in value. L. W., Memphis ANSWER: Individual...

Memphis, Tenn.-Based Self-Storage Company Re-Elects Board Members.
May 3, 2001... Byline: Jerome Obermark May 3--All nine members of the board of directors of Storage USA, a Memphis-based self-storage real estate investment, were re-elected to one-year terms at the company's annual shareholders' meeting Wednesday at 175...

Memphis, Tenn.-Based Real Estate Trust to Vote on Board Members.
May 3, 2001... Byline: Jerome Obermark May 3--The main business at RFS Hotel Investors Inc.'s annual shareholders meeting at 9 a.m. today in the company's offices at 850 Ridge Lake in East Memphis will be to reelect three board members. The...

Federal Reserve Optimistic about Outlook for Real Estate, Retail Sectors.
May 3, 2001... Byline: Christopher Barton May 3--While manufacturers are cutting jobs and slowing production in the region, the outlook for the retail and real estate sectors remains positive, according to a Federal Reserve report. The Beige Book,...

Memphis, Tenn.-Based Back Yard Burgers to Hold Annual Meeting on May 17.
May 4, 2001... Byline: Linda A. Moore May 4--Shareholders of Memphis-based Back Yard Burgers Inc. will conduct business that includes the election of one director and the ratification of the company's accountants during the annual stockholders meeting on...

Memphis, Tenn.-Based Hotel Company Announces Strong Earnings Report.
May 4, 2001... Byline: Jerome Obermark May 4--RFS Hotel Investors Inc. reported its best first quarter earnings Thursday, about an hour before its annual shareholders' meeting. Funds from operations (FFO) increased 6 percent to $15 million or 55 cents...

Bill Would Require Tennessee Motorists to Show Proof of Insurance.
May 4, 2001... Byline: Christopher Barton May 4--The state may soon put some stiff penalties behind a 1977 law that required motorists to be responsible for their accidents. Nearly one in five motorists in the state -- about 18 percent -- do not have...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
May 4, 2001... Byline: Linda A. Moore May 4--UPSIDE OF ECONOMY DIP: CUSTOMER SERVICE MAY RISE: There is probably a consensus that customer service in America over the years has gone from bad to worse. At worst, (real events that I've seen myself)...

London-Based Firm to Sell Memphis, Tenn., Area Medical Operation.
May 5, 2001... Byline: Christopher Barton May 5--London-based Smith & Nephew Plc on Friday said it has sold its operation in Bartlett, which employs about 150 workers. The company sold its Ear, Nose & Throat division, which includes a...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
May 5, 2001... Byline: David Flaum May 5--Item: Harrah's Entertain ment Inc. closes its Memphis Teleservices Center, eliminating 143 jobs. Item: Concord EFS Inc. plans to slash 250 jobs, including about 100 in Memphis, over the next year. Item:...

Tennessee-Based Media Chain Buys Memphis, Tenn.-Area Newspapers.
May 5, 2001... Byline: Mark Watson May 5--Bartlett Newspapers Inc. has acquired two weekly newspapers, The Millington Star and South Tipton Star, from Community Newspaper Holdings Inc., based in Birmingham, Ala., for an undisclosed amount. The new...

Packaging Products Maker to Cut 70 Jobs at Memphis, Tenn., Plant.
May 5, 2001... Byline: Christopher Barton May 5--About 70 workers will lose their jobs at a Sonoco Products Co. plant in Memphis as the company moves production to other facilities. Hartsville, S.C.-based Sonoco, a worldwide maker and marketer of...

Investment Firm Buys Memphis, Tenn., Public Housing Property.
May 5, 2001... Byline: Jerome Obermark May 5--Cherokee Lumber & Investment Co. has purchased the old Getwell Gardens public housing property for $500,000. The site at Winchester and Getwell is about a mile east of Memphis International Airport. It is...

Memphis, Tenn.-Based Engineering Firm Merges with Boston Company.
May 8, 2001... Byline: Jerome Obermark May 8--JMGR Inc., a 100-year-old, Memphis-based architectural and engineering firm, has merged with Boston-based TRO/The Ritchie Organization. Terms were not disclosed, but the Boston firm acquired the assets...

FedEx Gets Gloomier in Earnings Outlook.
May 8, 2001... Byline: Richard Thompson May 8--For the second time in five weeks, FedEx Corp. revised its outlook for fiscal fourth quarter Monday. In April, the U.S. domestic average daily volume at FedEx Express, the overnight delivery carrier and...

German Officials Visit Memphis, Tenn., on Business Development Mission.
May 8, 2001... Byline: Christopher Barton May 8--After a delegation of Memphis business leaders visited his country last year, Ernst Schwanhold returned the good will on Monday, telling area businesses about opportunities in Germany. Schwanhold is...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
May 9, 2001... Byline: David Flaum May 9--QUESTION: My mortgage payment is approximately $700 per month, with a balance of approximately $48,000 at a rate of 6.7 percent on a 15 year note with 12 years to go. Is it better to make monthly payments or...

Tennessee Real Estate Investment Trust Members Are Nominated for Re-Election.
May 9, 2001... Byline: Jerome Obermark May 9--Three members of the board of directors of Equity Inns Inc. (ENN) have been nominated for re-election to three-year terms. Voting will be tabulated at the shareholders' annual meeting at 10 a.m. today at...

Tissue Company to Buy Recycling Pulp Mill in Memphis, Tenn.
May 9, 2001... Byline: Christopher Barton May 9--American Tissue Inc., which has a paper tissue mill in Memphis, said it plans to buy another recycling pulp mill in Memphis. The company hopes to buy Atlanta-based Ponderosa Fibres of America Inc.,...

Memphis, Tenn., Plant Sees Hope in Production of New TV Model.
May 10, 2001... Byline: Christopher Barton May 10--After months of uncertainty, production of a new model of television is bringing hope to employees at the Sharp Manufacturing Co. of America plant in Memphis. The company said Wednesday it has begun...

Memphis, Tenn.-Based Vacation Rental Property Firm Buys Two Companies.
May 10, 2001... Byline: Jerome Obermark May 10--ResortQuest International Inc., a Memphis-based vacation rental property management company, recently acquired two companies that manage vacation rental units in year-around markets in Florida, and the Smoky...

Memphis, Tenn., Real Estate Developer Gets High Honor.
May 11, 2001... Byline: Jerome Obermark May 11--Thomas C. Farnsworth Jr., real estate developer of office and distribution space in Memphis, received the "Excellence in Real Estate Lifetime Achievement Award" from the Memphis Chapter of Lambda Alpha...

Memphis, Tenn.-Area Hotel Firm Hears Good News About Its Stock at Meeting.
May 11, 2001... Byline: Jerome Obermark May 11--Equity Inns Inc. shareholders heard good news at the annual shareholders' meeting Thursday after re-electing three directors to the board. In addition, the company's stock price closed at $8.86 up 8...

Memphis, Tenn., Youngster Becomes Finalist in Inventors Award Program.
May 11, 2001... Byline: Mark Watson May 11--The Antoines, who live in southeast Memphis, like to camp, but in February at Meeman-Shelby Forest State Park, James Antoine, then-12, noticed the difficulty of pulling tent pegs from the ground. He decided...

Economy, Energy Crunch Have No Affect on Memphis, Tenn.-Based Resort.
May 11, 2001... Byline: Mark Watson May 11--Memphis-based ResortQuest International appears to be unaffected by the softening of the U.S. economy and the energy crunch, the company's top executive said at Thursday's shareholder meeting. "The family...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
May 11, 2001... Byline: Linda A. Moore May 11--When I was a child, whenever we asked our mother what she wanted for Mother's Day, her response was always the same: "Oh, just a beautiful handkerchief." Of course, armed with our father's money, we...

New Bank Logo to Be Perched Atop Memphis, Tenn., Office Tower.
May 12, 2001... Byline: Jerome Obermark May 12--The 40-by-40-foot UP metal and neon sign atop White Station Tower will be removed and replaced by Independent Bank's logo later this year. That's because Independent Bank has become the building's...

Memphis, Tenn., Convention Center Gets Help Attracting Trade Shows.
May 12, 2001... Byline: Jimmie Covington May 12--A joint program involving a national group of show organizers and SMG, the manager of Memphis Cook Convention Center, is expected to boost the convention center's efforts to attract professional trade...

Memphis, Tenn.-Based Financial Firm Unveils New Logo.
May 12, 2001... Byline: David Flaum May 12--National Commerce Financial Corp. unveiled a new logo this week to go along with its new name. The sunburst emerging from a long, gently curved horizon is aimed at helping the Memphis-based company create a...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
May 12, 2001... Byline: David Flaum May 12--College students are starting to come home for the summer; high schoolers will be out in a few weeks. Many of them will spend at least part of their summer working and for a good number it will be their...

Memphis, Tenn., Company Offers Career Development Software.
May 12, 2001... Byline: Mark Watson May 12--Companies that want to retain their best workers and have them reach their full potential now have a new tool, developed by a Memphis company, to help make that happen. ThoughtWare Technologies this week...

Memphis, Tenn., CPA Receives Entrepreneurial Award.
May 15, 2001... Byline: David Flaum May 15--S. Herbert Rhea has been named the 2001 recipient of the Master Entrepreneur Award by The Society of Entrepreneurs and Junior Achievement of Memphis. Rhea, 78, is a licensed certified public accountant since...

Memphis, Tenn.-Based Venture Capital Firm Invests in Internet Film Company.
May 15, 2001... Byline: Mark Watson May 15--Memphis-based Paradigm Capital Partners is leading an investment of as much as $30 million in Internet Pictures Corp., which announced on Monday a loss of $17.1 mil- lion, or 27 cents a share, for the first...

Rising Gas Prices Impact Memphis, Tenn.-Area Commuters.
May 15, 2001... Byline: Christopher Barton May 15--For Sharee Patterson, skyrocketing gas prices are no longer just a nuisance, but may cause her to change her lifestyle. Patterson, 27, recently moved to Millington where she found a lower-priced...

Northwest Airlines CEO Discusses Future of Company in Memphis, Tenn.
May 16, 2001... Byline: Richard Thompson May 16--In a 15-minute speech and a much longer question and answer session Tuesday, Richard H. Anderson, chief executive officer of Northwest Airlines Corp., addressed Memphis's role in the strategic future of the...

Two Old Safes Removed from Memphis, Tenn., Building by Crane.
May 16, 2001... Byline: Jerome Obermark May 16--It took two cranes to remove two old safes from the second floor of the F. G. Barton Cotton Co. Building at 115 South Front Tuesday. Brothers Michael and Mark Matthews, homebuilders and owners of the...

Memphis, Tenn., Firm Buys 31 Wendy's Restaurants in North Carolina.
May 16, 2001... Byline: Jerome Obermark May 16--Carlisle Corp. of Memphis reported it has acquired 31 Wendy's Old Fashioned Hamburger Restaurants in the Winston-Salem, High Point and Greensboro areas of North Carolina for $41 million. The seller was...

Regions Financial of Birmingham, Ala., Holds Annual Meeting.
May 17, 2001... Byline: David Flaum May 17--Regions Financial Corp. of Birmingham, Ala., brought its annual meeting to the home of its most recent acquisition, Memphis-based Morgan Keegan Inc., on Wednesday. "We are remaking the company, and Memphis...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
May 17, 2001... Byline: David Flaum May 17--QUESTION: I put in $2,000 in my Roth IRA for the year 1999. Later that year, I sold some stocks which pushed my adjusted gross income past the limit for Roth contribution. In 2000, before I filed my taxes for...

Birmingham, Ala.-Based Steel Firm to Keep Tax Abatement in Memphis, Tenn.
May 17, 2001... Byline: Christopher Barton May 17--Birmingham Steel Corp. on Wednesday agreed to pay $150,000 to the city and county to keep its tax abatement program alive. But the payment is far less than the estimated $2 million in personal...

Memphis, Tenn., Listens to Officials from Cities with Basketball Teams.
May 18, 2001... Byline: David Flaum May 18--Building arenas to keep National Basketball Association teams in San Antonio and Indianapolis has been worth the cost, top executives of the Chambers of Commerce of those cities told Memphis Area Chamber of...

Memphis, Tenn.-Based Credit Card Company May Sell Portion of Stock.
May 18, 2001... Byline: David Flaum May 18--Concord EFS Inc. proposed Thursday the sale of up to 24.4 million shares of its stock, including about 19.2 million owned by former owners of a company Memphis-based Concord bought earlier this year. The...

London-Based Orthopedic Products Company to Expand Operation in Memphis, Tenn.
May 18, 2001... Byline: Christopher Barton May 18--London-based Smith & Nephew Plc said Thursday it will move forward with a major expansion in Memphis and create 415 jobs in three years. The decision comes despite a rejection by the Memphis City...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
May 18, 2001... Byline: Linda A. Moore May 18--Shareholders of Back Yard Burgers Inc. got a look at the company's new logo during the Memphis-based hamburger chain's annual stockholders meeting Thursday. Shareholders also elected a new director,...

Accountancy BDO Seidman Notes Growing Array of Services in Memphis, Tenn.
May 19, 2001... Byline: David Flaum May 19--BDO Seidman is not your father's accounting firm. With everything from an auction site on the Internet to business alliances with lawyers and financial planners, leaders of the Chicago-based company hope to...

Profit Sharing Benefits Are Suspended for FedEx Workers.
May 22, 2001... Byline: Richard Thompson May 22--Employees are finding out exactly what "stringent cost controls" really means at Memphis-based FedEx Corp. as the economy continues to deteriorate its core overnight air express business. For instance,...

Bank, IBM Agree to Sell Memphis, Tenn.-Based Check Processing Software Unit.
May 23, 2001... Byline: David Flaum May 23--First Tennessee Bank of Memphis and its equal partner IBM Corp. have agreed to sell Check Solutions Co. to Carreker Corp. of Dallas. Memphis-based Check Solutions is a check and image processing software...

Agriculture Secretary Speaks to Memphis, Tenn., Audience about Energy Crisis.
May 23, 2001... Byline: Christopher Barton May 23--U.S. Secretary of Agriculture Ann M. Veneman will be in Memphis today to speak to regional farmers about the energy crisis. Veneman will hold a town meeting at 6 p.m. at Agricenter International. The...

AutoZone Fires 50 Employees at Memphis, Tenn., Office.
May 24, 2001... Byline: Linda A. Moore May 24--AutoZone Inc. has fired 50 employees at its Memphis corporate office, many in new-store development, as part of what company officials called internal realignments. On Wednesday the company also reported...

Memphis, Tenn., Business Offers Computer Cleaning Service.
May 24, 2001... Byline: Mark Watson May 24--If you're reading this at The Commercial Appeal's Web site, dangerous germs may even now be moving from the keyboard to your fingertips en route to infecting your body. In a 1999 report, EXTRA, a TV news...

Secretary of Agriculture Outlines Bush's Energy Plan in Memphis, Tenn.
May 24, 2001... Byline: Christopher Barton May 24--U.S. Secretary of Agriculture Ann Veneman outlined a few elements of President Bush's long-term energy plan Wednesday in Memphis, but most Mid-South farmers appeared more energized talking about current...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
May 24, 2001... Byline: David Flaum May 24--YOU GET TO COLLECT YOUR OWN SOCIAL SECURITY: QUESTION: I work full time now, but when I reach 62, can I file for Social Security on my exhusband's record because he pays in a lot more than I do. I have...

Memphis, Tenn., Refinery Resumes Normal Operations after Electrical Problems.
May 24, 2001... Byline: Jason Greer May 24--The Williams refinery was operating at normal capacity again on Wednesday after a three-day slowdown due to electrical problems. On Sunday morning a motor failed, causing lead wires to overheat and burn....

Memphis, Tenn.-Based Transactions Processing Firm Abbreviates Annual Meeting.
May 25, 2001... Byline: David Flaum May 25--With a stock offering hanging over their heads, executives of Concord EFS Inc. of Memphis couldn't give shareholders their normal look at the company's future at Concord's annual meeting Thursday. So they...

Motorists Hit Roads for Holiday Weekend, Despite High Gas Prices.
May 25, 2001... Byline: Christopher Barton May 25--As higher gas prices cut into their travel budget, Leroy Patman and his family stopped Thursday at the rest area on Interstate-40 near West Memphis for a picnic lunch. Patman, a retired Ford Motor Co....

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
May 25, 2001... Byline: Linda A. Moore May 25--STUDY FINDS MANY IN MIDDLE CLASS TAP PAYDAY LOANS: A recent study conducted by researchers at Georgetown University on the payday advance industry shows, that despite beliefs to the contrary, not all of the...

Memphis, Tenn., Antiques Shop Moves to New Location.
May 26, 2001... Byline: Linda A. Moore May 26--For 12 years Mary Wallace Crocker watched cars go by her business, Crocker Antiques and Garden, which sat high on a hill on Central Avenue. "Twenty-thousand cars were passing by everyday, but no one...

Memphis, Tenn.-Based Auto Service Chain Files for Bankruptcy Protection.
May 26, 2001... Byline: Christopher Barton May 26--Memphis-based Xpert Tune Inc., which owns 21 automobile service centers, has filed for Chapter 11 bankruptcy protection. "We didn't want to liquidate, and we wanted to save our employees' jobs," said...

Cooper Realty Investments in Bella Vista, Ark., to Buy Space in Memphis.
May 26, 2001... Byline: Jerome Obermark May 26--Cooper Realty Investments Inc., a privately owned commercial real estate investment company based in Bella Vista, Ark., has signed a contract to buy the Crescent Center office building and Forum I office...

Memphis, Tenn.-Based Financial Company Recalculates This Year's Earnings.
May 26, 2001... Byline: David Flaum May 26--National Commerce Financial Corp. will report earnings of $1.07 to $1.17 a share for this year after making changes in its accounting for past acquisitions, executives of the Memphis-based company said Thursday....

Memphis, Tenn.-Area April Unemployment Rates Fall Slightly.
May 26, 2001... Byline: Christopher Barton May 26--Despite a slowing national economy, unemployment rates in area counties dropped slightly in April. Shelby County's unemployment rate dropped from 3.6 percent in March to 3.4 percent in April,...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
May 26, 2001... Byline: David Flaum May 26--Before Kelly and Sharon Truitt got married, they talked about money. "We discussed our common goals and interests, we talked about what was important financially -- savings, insurance and investments --...

Some Pharmacies Face Shortage of New Jersey Firm's Insulin-Injection Needles.
May 26, 2001... Byline: Jason Greer May 26--Diabetic patients may find their pharmacies out of needles used to inject their insulin dosage. Shortages at Becton Dickinson, a Franklin Lakes, N.J.-based company that sells the leading brand of needle for...

Memphis, Tenn., Printing Business to Shut Down.
May 30, 2001... Byline: Jason Greer May 30--At first glance, it doesn't look as though Hicks Composition Service is closing its doors for good. With new orders arriving less than a week before Roy and Shirley Hornsby say good-bye to their printing...

Memphis, Tenn., Technology Firm Gains Hospital System as a Customer.
May 30, 2001... Byline: Mark Watson May 30--A Memphis technology company that has a national clientele has won its first customer in its own backyard: Methodist Healthcare. In mid-May, the hospital system started using FormWeb, an Internet-based...

Award against First Tennessee Bank Bounced Back to Memphis-Area Court.
May 31, 2001... Byline: David Flaum May 31--Business owner Don Culbreath's nine-year-old bank lawsuit is headed back to Shelby County Chancery Court for another look at the $9 million punitive damages award. The Tennessee Supreme Court reversed an...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
May 31, 2001... Byline: David Flaum May 31--QUESTION: I am 63 years old and retired. My income is $26,000 a year, which pays my expenses. I also have a $60,000 CD at 3.9 percent, $30,000 annuity with a fixed rate of 5 percent, $15,000 in a stock mutual...

Northwest Airlines to Offer Nonstop Baltimore-Memphis Flight.
May 31, 2001... Byline: Jason Greer May 31--Northwest Airlines will offer one daily nonstop flight from Memphis to Baltimore beginning Sept. 1, officials of the airline said Wednesday. A 100-seat DC9 will transport passengers on the new flight. ...

Hospital Executive Cites Severe Nursing Shortage in Tennessee.
May 31, 2001... Byline: Christopher Barton May 31--As Lola Llewellyn plans to retire after 35 years in nursing, she is concerned about the future of her profession. Llewellyn, vice president of nursing for Methodist Healthcare's four hospitals in...