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VOL. TMN-7 | NO. 52 | Saturday, December 20, 2014
Weekly Issue

Evolving Identity

New Memphis optimism meets newer moments of doubt

Some of the most telling views of Memphis are the ones many of us see for only seconds at a time as we drive on viaducts that take us and our cars just above the treetops and rooftops of older neighborhoods interrupted by the roadways.

Editorial: Finding Complexities in the Memphis Experience

This is not your parents’ Memphis inferiority complex.

THE MEMPHIS NEWS ALMANAC

This week in Memphis history: December 19-25

2009: On the front page of The Daily News, the Metro Charter Commission, drafting a proposed charter for a consolidated Memphis-Shelby County government made an early decision in its draft that their proposal would not include a consolidation of Memphis City Schools and Shelby County Schools.

Area Hospitals Penalized for Avoidable Complications

Regional One Health and Baptist Memorial Hospital-Memphis are among the 721 hospitals that the federal government is penalizing for having high rates of infections and other patient injuries.

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Local Weather
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Memphis, TN
37°F
Fair
Wind: 6 mph
Humidity: 76%

EVENTS

Memphis Zoo will host SunTrust Zoo Lights 2014 through Dec. 30, except for Christmas Eve, from 5:30 p.m. to 9:30 p.m. at the zoo, 2000 Prentiss Place. Visitors can enjoy free rides through Zoo Lights on a tram, children’s activities, live reindeer, animal encounters and more. Cost is $6 for members and $8 for nonmembers. Visit memphiszoo.org.

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From Sweden to Memphis

Furniture retailer Ikea to open in 2016

Swedish retail giant Ikea will open a 225-employee store in the Wolfchase Galleria area in 2016.

FedEx Reports 23 Percent Earnings Boost

FedEx on Wednesday, Dec. 17, reported net income of $616 million for the September-November quarter, a 23 percent increase from $500 million in the same period last year but slightly below Wall Street estimates.

Delta Cutting Routes to Three More Cities

Delta Airlines is slashing more routes at Memphis International Airport, including its nonstop flights to Chicago O’Hare International Airport.

Target, Cummins Awarded Tax Breaks

Two companies won approval Wednesday, Dec. 17, for tax incentives for projects that will create around 1,400 jobs.

Wharton Whirlwind

Mayor to ask City Council to approve schools settlement

Memphis Mayor A C Wharton Jr. will ask the Memphis City Council to approve the approximately $30 million in city funding at the core of the settlement of the six-year-old schools funding controversy and lawsuit.

Conn’s Inc. to Open Second Store in Memphis

Specialty retailer Conn’s Inc. will open a second store in Memphis, the second of possibly three stores the Texas-based home appliances and furnishings chain plans to open in Tennessee.

St. Louis Fed Memphis Executive Stepping Down

After getting her master’s degree in economics from Washington University in St. Louis, Martha Perine Beard joined the Federal Reserve Bank of St. Louis as a management trainee in 1971.

Health Leaders: Improvement Possible

Tennessee’s place in the 2014 America’s Health Rankings makes one thing very clear: There’s a lot of room for improvement.

Folk’s Folly Rebrands, Renames Butcher Shop

Folk’s Folly has finished rebranding and renovating the restaurant’s adjacent butcher shop that opened in 1989, a spate of activity that also included renaming the shop in honor of restaurant founder Humphrey Folk.

Holiday Rush

US Postal Service peak season underway

Marianne Avery has worked for the United States Postal Service for 30 years. In that three decades of service, Avery has pretty much seen it all, but for the veteran postal worker the week before Christmas remains a busy, beloved time of year.

Discussion Remains in Schools Settlement

The Memphis City Council still has a pretty strong case that its approval of a settlement between the city and Shelby County Schools over a six-year-old funding dispute will be necessary at some point.

Paragon Turns In Positive Third Quarter

Partly driven by an uptick in loans, Memphis-based Paragon Bank turned in another positive showing during the third quarter, with year-to-date pre-tax earnings 35 percent higher than in the first three quarters of 2013, the bank said.

City Council Approves Pension Changes

Memphis City Council members put to rest Tuesday, Dec. 16, at least the City Hall portion of the debate about city employee benefits and the liability of those benefits by approving changes to the city’s pension plan.

Beale Street Authority Takes Shape

A new tourism development authority being proposed for the Beale Street entertainment district would not replace the Beale Street Development Corp.

Recipe for Success

Ticer, Hudman continue their vision at Brookhaven Circle

Michael Hudman is overseeing some last-minute preparations at Porcellino’s, walking through the space that will not only be home to a butcher shop but also represents fresh progress toward the master plan that chefs Hudman and Andy Ticer came up with years ago for their piece of Brookhaven Circle.

Tanger Outlets Involved in Southaven Project

A major player in the development of outlet malls has jumped on board the long-planned effort to build a massive outlet mall in Southaven.

Clean Pathways Revives City Anti-Blight Effort

The city’s anti-blight contracts with nonprofit groups are back under new terms.

Collins, Harris Discuss Tax Incentive Concerns

Memphis City Council members Harold Collins and Lee Harris agree for the most part on the value of the Graceland expansion plan the council approved two weeks ago.

SPORTS

Tigers Look to Go 1-0 At Miami Beach Bowl

December was always sort of depressing. How could it not be? If you’re a college football player and you’d just finished another disappointing season, losing many more games than you had won, how were you supposed to be excited by the bowl season?

For Tigers, Any Win is Good

The Tigers’ problems are solved. Or at least they are when they make 11 threes, shoot 52.4 percent from long range, and almost 80 percent at the free-throw line.

Q&A: Al Bond, University of Memphis senior offensive lineman

Fast Facts: First-team American Athletic Conference selection; started all 12 games at right tackle, playing 798 of 915 offensive snaps; been starter since midway of freshman year; stands 6-foot-4 and 305 pounds; graduate of Southwind High School; enrolled in graduate school after receiving undergraduate degree in correctional administration.

Memphis, Fuente Agree on Extension

University of Memphis officials announced Thursday they have reached an agreement on a contract extension with football coach Justin Fuente.

Liberty Bowl Promises Lots of Offense

The Dec. 29 AutoZone Liberty Bowl matches a pair of offenses that play at two speeds: fast and blurry.

Jake Locker: Nice Guy Who Deserved Better

Jake Locker’s time with the Tennessee Titans has quietly come to an end. Sure, he’s officially a Titan until March, but Sunday’s shoulder injury vs. the Jets – and his upcoming surgery – ends a star-crossed four-year run.

Vols’ Barnett Faces Nation’s Best in Iowa’s Scherff

KNOXVILLE – Derek Barnett is spending most of the Christmas holidays away from his Nashville home, and he wouldn’t have it any other way.

NEWSMAKERS

Greenfield Voted to Lead Veterinary Dental College

Dr. Barden Greenfield has been unanimously voted president-elect for the American Veterinary Dental College. In 2009, Greenfield started Your Pet Dentist, the umbrella that incorporates his involvement in Memphis Veterinary Specialists, Nashville Specialists and the Animal Emergency and Specialty Clinic of Little Rock. He has been on the AVDC board for three years, serving as chair of the PR Committee and as a member of the Credentials Committee.

REAL ESTATE RECAP

Elvis Presley Enterprises Applies for Hotel Building Permit

3066 Elvis Presley Blvd., Memphis, TN 38116, Permit Amount: $57 million -
Elvis Presley Enterprises has applied for a $57 million building permit for its planned 450-room hotel near Graceland.

SMALL BUSINESS

Blackie’s Body Shop Endures Changing Industry

Cars are a lot different, and the business of an auto body shop is too, since Delmus “Blackie” Moore opened a body shop on Fourth Street in Downtown Memphis in 1951.

LOCAL COLUMNISTS

A Present for the Kids

GIVE THANKS. This Christmas, our country has given our kids a chance. As a county, we had a chance to do it for ourselves but local government wouldn’t fund it and local citizens wouldn’t pay for it. As a state, our governor had to be talked into asking for it and our Legislature would rather not talk about asking for help at all.

Preparing for January

In less than three weeks, the race will be on. Are you ready? You may wonder what race I’m talking about. It’s time for one of the most important races of your life. The race to your dream job.

Roth Conversion, Should You Do It?

Ray’s Take There’s been a lot of discussion in recent years about Roth accounts, specifically the Roth IRA and the Roth 401(k). Maybe you’re wondering if you should convert your own accounts but aren’t sure.

Curry Reunion

CHARLOTTE, N.C. – Friday night after Thanksgiving. Stephen Curry’s at the charity stripe. Swish! Golden State 18, Charlotte 10.

Ad Retargeting May Spoil Holiday Surprise

When you shop Amazon for a product and then see that same product in a Facebook ad days later, it is certainly not a coincidence. It is a marketing strategy called ad retargeting, and it is dominating online advertising.

Fear Drives US Stocks Higher

In 2014, more than 600 hedge funds have disbanded. Even accounting for the carnage of 2009, this amounts to a record pace of “smart money” failures. In the more pedestrian mutual fund realm, active money managers are having their worst year of relative performance ever.

Social Change and Nonprofits

Ferguson, Mo., and Staten Island, N.Y. Cleveland, Ohio. Michael Brown. Eric Garner. Tamir Rice. These cities and the deaths of these African-American males – men and boys – are in the headlines. So are people’s responses.

Southwest Could Offer International Hope

It’s hard enough getting a direct flight to a domestic destination out of Memphis International Airport these days. And if looking at an international city, just getting a convenient connecting flight can be a headache.

Market Understanding Leads to Wins

Unlocking Value. Why do innovations end up in a “black hole?”

Finding Real Change For The New Year

New Year’s resolutions are tempting to make, and they are even more tempting to forget.

TENNESSEE LEDGER
Nashville Edition

More Veterans Calling Middle Tennessee Home

Economy, jobs, access to Fort Campbell place Nashville area in top 10

When Scott Ledermann, a military health care recruiter in Nashville, retired from the Army in October, it didn’t take him long to land a job with a local company.

Clarksville, Fort Campbell Still Big Draw for Veterans

Clarksville has become one of the nation’s boom towns, thanks largely to retirees from military service.

Immigrants Find Room to Grow in Nashville's Public Gardens

With the growing season wrapped up for winter and the temperature hovering at 45 degrees on a recent Sunday, the community garden off Wedgewood Avenue looked to be draped in a brown afghan with just a few patches of green peeking through.

Appraisals, Inspections Getting More Complex

As if things were not crazy enough in Nashville real estate – with inspectors now writing 50-page reports with scores of photographs, underwriters overwriting and overriding, new disclosures and disclaimers proliferating the transaction – appraisers are requiring more and more documentation.

Knoxville Edition

Knoxville Area a Magnet for Retirees

National rankings confirm what makes East Tennessee special

Retired air traffic controller Sterling King moved to Knoxville when his brother needed him. Five years later, he has fallen in love with the area and everything it has to offer.

Short stay? Travel Site Also Lauds Knoxville Area

People with an eye for inexpensive yet great vacation or short getaway destinations are likely to land in Knoxville.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 65 366 17,721
MORTGAGES 70 417 23,068
FORECLOSURE NOTICES 15 91 4,519
BUILDING PERMITS 210 932 42,157
BANKRUPTCIES 62 299 16,691
BUSINESS LICENSES 19 80 5,781
UTILITY CONNECTIONS 49 305 25,174
MARRIAGE LICENSES 16 96 5,381

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The Memphis News: Business, politics, and the public interest.