[5:45 p.m.] At this hour, the rumor persists that there were 25 TNInvestco applicants, but only 22 have been posted. However, VNC just received confirmation from Andrew Forsdick, a former Coopers & Lybrand manager who is now general partner with Addison Capital Advisors, that he received an e-mail today from TNInvestco staff saying that Addison's app has been approved. Addison Capital is backed by J.T. Novarese, a well known Memphis businessman whose family owned Pop Tunes, which was the oldest retail music distributorship in the U.S., but was sold to Nashville's Music City Record Distributors, in 2001. Addison Capital has investments in Park Media (digital signage), Telco Television (content aggregation for cable and IPTV), VO2 Networks (VOIP phones and related), and Energy Savings, which makes energy-saving products for HVAC and auto applications. A second supposed applicant is Pointer Capital Partners Rural TNInvestco Fund LLC, which is directed by former Bredesen Administration Deputy Governor Stuart Brunson. VNC has not determined whether or not Brunson's firm is linked to Pointer Capital LLC, based in Atlanta. Here's the State's official TNInvestco list. Here are links to search the VNC blog and VNC news site for related stories. As noted, there may also be a 25th approved application, but no word on when those two or more additional shoes might drop.
Friday, October 02, 2009
TNInvestco accepts Addison app
[5:45 p.m.] At this hour, the rumor persists that there were 25 TNInvestco applicants, but only 22 have been posted. However, VNC just received confirmation from Andrew Forsdick, a former Coopers & Lybrand manager who is now general partner with Addison Capital Advisors, that he received an e-mail today from TNInvestco staff saying that Addison's app has been approved. Addison Capital is backed by J.T. Novarese, a well known Memphis businessman whose family owned Pop Tunes, which was the oldest retail music distributorship in the U.S., but was sold to Nashville's Music City Record Distributors, in 2001. Addison Capital has investments in Park Media (digital signage), Telco Television (content aggregation for cable and IPTV), VO2 Networks (VOIP phones and related), and Energy Savings, which makes energy-saving products for HVAC and auto applications. A second supposed applicant is Pointer Capital Partners Rural TNInvestco Fund LLC, which is directed by former Bredesen Administration Deputy Governor Stuart Brunson. VNC has not determined whether or not Brunson's firm is linked to Pointer Capital LLC, based in Atlanta. Here's the State's official TNInvestco list. Here are links to search the VNC blog and VNC news site for related stories. As noted, there may also be a 25th approved application, but no word on when those two or more additional shoes might drop.
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