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VOL. TMN-6 | NO. 34 | Saturday, August 17, 2013
Weekly Issue

‘It Will Get Better’

Airport leader confident Memphis airfares set to improve

On a recent July morning, a full room of local business leaders gathered in a FedEx Corp. training facility on Airways Boulevard to learn more about Memphis International Airport and its operations.

Editorial: Passengers Deserve Action, Not Spin

So far, the effort to rebuild Memphis as a passenger airline market is more of a sales job than an actual reconfiguration.

EMPHASIS Commercial Real Estate

Industrial Revolution

It’s a striking figure for some commercial real estate experts.

Slight Second-Quarter Uptick Bolsters Commercial Real Estate

Despite posting lower numbers in some sectors for the second quarter, due primarily to the departures of Pinnacle Airlines and Technicolor, the local commercial real estate market is faring well in 2013.

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EVENTS

Playhouse on the Square will host a performance of “Les Miserables” to benefit the Memphis Child Advocacy Center Saturday, Aug. 17, at 8 p.m. at Playhouse, 66 S. Cooper St. A pre-performance reception and silent auction begin at 6 p.m. Tickets are $60 and are available through MCAC, 888-4342.

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Sharp Wears Many Hats at CBRE Memphis

CB Richard Ellis Memphis’ Mary Sharp never has a dull day as the chief operating officer and head of the company’s Asset Services division.

Colliers Continues Role as Major Commercial Real Estate Player

Wilkinson & Snowden Inc. helped lead the industrial warehouse revolution in Memphis at a prescient time.

THE MEMPHIS NEWS ALMANAC

August 16-22, 2013: This week in Memphis history

2012: Memphis-based Pinnacle Airlines Corp. unveiled a new bankruptcy reorganization plan that included a 6 percent pay cut for nonunion employees. The airline had filed for bankruptcy reorganization the previous August with a plan that did not anticipate Delta Air Lines dropping its 50-seat jets as fast as Delta did after reaching a contract agreement with union pilots that June. Pinnacle moved its headquarters from One Commerce Square to Minneapolis this past May.

Beyond Graceland

Elvis fans look elsewhere for signs of singer’s Memphis life

Graceland – the Whitehaven mansion and the artifacts in it – is not for sale.

Turley Shows Interest in Developing Central Station

A partnership consisting of Henry Turley and Community Capital is the only entity so far to express interest in the management and development of Central Station.

Buckeye Shareholders Approve Merger

Stockholders of Buckeye Technologies Inc. have approved the Memphis-based company’s merger with Georgia-Pacific LLC.

Airport Elects Brockman President

With no debate and a unanimous vote, the Memphis-Shelby County Airport Authority board of commissioners on Thursday, Aug. 15, approved Scott Brockman as the airport’s next president and CEO.

Expanding Horizon

City, county push for Presidents Island rail project

The city and county mayors are aggressively pushing for support for a major expansion of Presidents Island, including a concerted effort to bring city and county legislators on board.

ServiceMaster Reports Second-Quarter Operating Loss

The ServiceMaster Co. reported a $564 million operating loss Wednesday, Aug. 14, for the second quarter of its fiscal year, in a quarter that CEO Rob Gillette said did not meet expectations.

Elvis/Stax Confluence Blunted By Marketing

Roger Semon of Sony Music Entertainment knows the music business and Elvis Presley’s sound like few others do.

Mortgage Market Rises 22 Percent in July

The month of July may help buoy expectations among optimistic participants in the mortgage industry that a housing recovery is taking hold in Shelby County.

New Life

Transplant reversal gives Memphian healthy future

After her mother died of heart failure, Anissa Swanigan began experiencing rapid heartbeats and was told to chalk it up to anxiety. With a pregnancy a year later, she was told she had hypertrophic cardiomyopathy, a congenital disease that results in a thickening of the heart muscle.

Building Permit Activity Cools in July

Shelby County home building activity cooled in July, with builders pulling fewer permits and selling fewer new homes compared to July 2012.

Insurers Limit Providers to Drive Down Costs

In a bid to halt rising health care costs, local insurance carriers are pushing lower-cost plans with fewer choices of physicians and hospitals.

Another Helping

Next Soul Fish to open soon on Poplar

Raymond Williams, who co-owns Soul Fish Café with Tiger Bryant, repeatedly stresses that his 7-year-old restaurant has been blessed with both a loyal crew of hard-working employees and a run of great luck.

Legislature to Explore Annexation Votes

The Tennessee legislature has put a moratorium on annexations, and even if the moratorium wasn’t in place, the Memphis City Council hasn’t been anxious to annex any territory beyond South Cordova for several years.

Shelby County Home Sales Rise 19 Percent in July

Like the temperatures outside, Shelby County home sales continued to gain steam in July, with key indicators posting double-digit percentage increases over last year.

Traffic Stop

Designers plot greenline extension past Germantown Parkway

Planners of the eastern extension of the Shelby Farms Greenline – from Farm Road to the Cordova train station – are getting in some roadwork these days.

Human Resources Industry Facing Evolving Challenges

The Obama Administration’s Equal Employment Opportunity Commission has taken an aggressive approach to improving diversity in the workforce, said Paul Patten, a partner with Jackson Lewis LLP in Chicago.

FDA Rejects Wright’s Augment Bone Graft

Wright Medical Group Inc. said Thursday, Aug. 8, that the U.S. Food and Drug Administration rejected its Augment Bone Graft product for use as an alternative in foot and ankle fusion procedures.

Project Green Fork Celebrates Five Years

Project Green Fork in recent days certified the 55th restaurant on a roster of eateries the organization has helped become more environmentally friendly.

SPORTS

Volunteers Keep Goal Simple: Respectability

College football coaches aren’t ever going to admit to looking down the schedule and circling the games that will define a season.

Chasing a Dream With Hat in Hand

Cody Hudson hit his first professional home run and trotted around the bases just like he had done at Austin Peay and, before that, Houston High School. He stepped on home plate and then turned toward his team’s dugout – in this case, the dugout of the San Angelo Colts.

MEMPHIS STANDOUT

Hester Builds Know-How in Commercial Construction

Len Hester is a project manager for Grinder Haizlip Construction Co., a general contractor that specializes in industrial and commercial projects and has worked on high-profile projects such as the Wright Medical Technology Inc. headquarters in Arlington, New Ballet Ensemble, the Grizzlies Sportsplex and the renovation of Memphis Theological Seminary.

MEMPHIS LAW TALK

Stengel Advises New Lawyers to ‘Find Your Passion’

Michael Stengel visited Memphis from his home in Buffalo, N.Y., for the first time at just the right time.

MEMPHIS NEWSMAKERS

Aerotropolis Manager Bowman Completes Delta Leadership Program

Chad Bowman, aerotropolis project manager for the Memphis and Shelby County Division of Planning and Development, has graduated from the Delta Leadership Institute Executive Academy, a yearlong Delta Regional Authority program designed to foster collaborative initiatives across the Delta region.

REAL ESTATE RECAP

Winchester Court Sells for $6 Million After Foreclosure

6740 Winchester Road, Memphis, TN 38115, Sale Amount: $6 million -
The Winchester Court retail center at Kirby Parkway and Winchester Road in Hickory Hill has sold for $6 million following a foreclosure.

SMALL BUSINESS SPOTLIGHT

Cousins Join Forces as Rosenblum & Reisman Law Firm

As the law firm of Rosenblum & Reisman celebrates its 15th year in business, it is with the knowledge and a sense of accomplishment that clients have been treated with the utmost respect, and that fellow lawyers and staff are treated as family. Indeed, the principals, Jeff Rosenblum and Marc Reisman, are first cousins.

LOCAL COLUMNISTS

Born Mean and Born Again

A CHANGED CHARACTER. AND THAT’S NO BULL. Next week, I’m going to a movie about the meanest, baddest linebacker to ever rip a helmet off a quarterback or start and finish a fight in Memphis. I’m going to a movie about a professional baseball player who was kicked out of the sport for the swings he took at players instead of the ball. I’m going to a movie about one of the most feared men in the NFL, and one of the most controversial because of his rabid rage on and off the field. I’m going to a movie about self-destruction, addiction, abuse, and about Jesus.

Turning Good Ideas Into Great Products

One innovation method is to invite customers (in a B-2-B situation) or consumers (in a B-2-C scenario) into the creative process with you. Here, they will ideate, workshop concepts that arise in the session, augment concepts provided for them, and create some new product or service ideas that do not yet exist.

Rich Doesn’t Mean Successful

Ray’s Take Society tends to equate the possession of riches with a happy, successful life and the pursuit of riches as the best course to achieve success. That’s a rather limited definition, however, and reality doesn’t bear it out. Studies show that the 100 richest people in this country are only slightly more satisfied with their lives than the average person. As the saying goes, “money doesn’t buy happiness.”

Candid Testimony

Sometimes, we must go back to our roots. The roots of “I Swear,” the column, are in the actual dialogue between lawyers and people who are under oath. Those who, in essence, tacitly add “I swear” to everything that they say.

CEOs Say Inbound Marketing Pays Off

Editor’s Note: This is the second in a two-part series. Forty-one percent of CMOs and CEOs report inbound marketing produced a measurable ROI in 2013, with half indicating an increased spend this year, according to HubSpot’s fifth annual State of Inbound Marketing Report.

The New One Thing

Now that earnings season has essentially ended, the stock market needs a new muse. The next earnings season begins in early October. In between, analysts will tweak models and revise forecasts, but real data releases overpower estimate releases. In mid-September, the Fed will either reduce bond purchases or buy more time. President Obama will choose between the over-politicized Larry Summers, the over-dovish Janet Yellen or the over-qualified Don Kohn to succeed Ben Bernanke as the next Fed head. We will also soon revisit Washington’s favorite debate over the debt ceiling.

Is Your Business Compliant With ERISA?

Compliance is a word thrown around frequently in the business world, and it’s a goal on your to-do list.

Success: More Than ‘Feel Good’

Part two of a two-part interview. Success in business is not enough. In fact, nonprofit involvement – and giving – can be a greater “buzz” than continued business growth.

The Lessons Found in the Traffic Light

Most traffic lights use a three-color system – red, yellow and green – in an attempt to control the flow of traffic through an intersection. Red, in this case, is the traffic light color that instructs moving vehicles to stop. This seems to be a simple system, and it is simple on the surface.

Memphis Seems Headed for ‘Most Improved’ List

It is the best of times for Memphis. It is the worst of times. Yes, we have challenges. Yes, we are working on solutions. I love Memphis, but I always hold my breath when those negative lists come out proclaiming the 10 worst cities at everything from health to crime to economics to education.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 182 13,079
MORTGAGES 135 267 17,025
FORECLOSURE NOTICES 0 21 3,322
BUILDING PERMITS 0 0 30,564
BANKRUPTCIES 67 133 12,476
BUSINESS LICENSES 23 43 4,532
UTILITY CONNECTIONS 182 328 19,221
MARRIAGE LICENSES 0 35 3,944

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