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VOL. TMN-6 | NO. 35 | Saturday, August 24, 2013
Weekly Issue

Neighborhood Vitality

Innovation Delivery Team works to revitalize city’s communities

The history at the Four-Way Restaurant is as rich and soulful as the food.

Editorial: Team Must Strive to Bridge New and Old

From MemFix to MemShop to Night Market, it is possible to do more than imagine what a streetscape with locally owned small businesses and lots of foot traffic might look like.

EMPHASIS Financial Services

Building the Future

Banks respond to changing customer service needs

The CEO of the largest bank based in Memphis told analysts earlier this year on the company’s first-quarter earnings call that executives there are in the middle of rethinking the bank’s branch network.

Estes Establishes Business Footprint With Allegiant

Getting divorced is never a happy, fun experience, but Allegiant Financial Planning LLC hopes to take some of the cost and stress out of the situation for its clients.

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Orion Gives Back to Local Community

Orion Federal Credit Union is making a big difference throughout the Mid-South area with its Orion Gives Back community involvement program, working with a diverse range of local nonprofit organizations and helping to shine a light on their various missions.

Reynolds Bone & Griesbeck Rolls Along With Changing City

The accounting firm of Reynolds Bone & Griesbeck PLC has been around since 1916, when it was known as Shannon Reynolds & Bone.

THE MEMPHIS NEWS ALMANAC

August 23-August 29, 2013: This week in Memphis history

2012: Shelby County Mayor Mark Luttrell vetoed a referendum on a half-cent countywide sales tax hike and the Shelby County Commission overrode the veto putting the item to voters in the city of Memphis and the unincorporated county on the Nov. 6 ballot. Voters defeated the sales tax hike.

Metal Detectors Being Used at Shelby County Elementary Schools

Handheld metal detectors are being used in elementary schools in the Shelby County Schools system as one of several reactions to a kindergarten student who had a gun in his backpack Thursday, Aug. 22, at Westside Elementary School.

Extension Granted in Schools Case Filings For 3-Way Settlement Talks

Attorneys for the Shelby County Commission, leaders of the six suburban towns and cities in Shelby County and the countywide school board are negotiating “in good faith,” according to a Friday, Aug. 23, filing in the Memphis Federal Court case on suburban school districts.

Driver’s Seat

FedEx affiliation bolsters Ward’s growing trucking empire

Don Ward hasn’t been on the road in one of his trucks in about three years, but he still wouldn’t be in any other business.

Private Legal Talks Underway on Schools

As Bartlett citizens got an update this week on the move by it and the five other suburban towns and cities in Shelby County to form their own school systems, Bartlett Mayor Keith McDonald fielded a pointed question with an interesting answer.

Sweet Noshings Store Fulfills Asbridge’s Business Dream

Leena Asbridge has about two weeks left in her current work as a bank field examiner before she starts a new, sweeter chapter in her professional career.

Petties Sentenced to Nine Life Terms

Memphis drug kingpin Craig Petties will be in prison for the rest of his life for heading a violent drug organization with direct ties to a Mexican drug cartel that sold millions of dollars worth of drugs in a multi-state area centered in Memphis from 1995 to 2008.

‘Dreams Matter’

Photojournalist’s program to help children build self-esteem returns

Agape Child & Family Services on Tuesday, Aug. 20, welcomed back award-winning photojournalist and author Linda Solomon and her nationally acclaimed program, “Pictures of Hope,” for the second straight year.

NYSE Warns Verso of Possible Stock Delisting

Verso Paper Corp. said Tuesday, Aug. 20, it has been warned by the New York Stock Exchange that its stock could be delisted.

Funding for Untested Rape Kits Sparks Debate

The Memphis City Council’s sharpest debate during a Tuesday, Aug. 20, council agenda with several major issues wasn’t about Smart Meters or changes in garbage pickup.

Kudzu’s Wrestles With Plant Closure Fallout

When the current ownership of Kudzu’s Bar & Grill bought the eatery in September 2011, tables were full, the parking lot was packed and the business kept busting its projections.

Handy Park Lease Latest Stage in Beale Endgame

The city of Memphis has a tentative lease of Handy Park with a group that includes some current tenants of the Beale Street entertainment district.

Organic Education

Teaching Garden connects children with food

Bethel Grove Elementary School of Memphis marked the opening of its American Heart Association Teaching Garden recently with a Plant Day Celebration and ribbon-cutting ceremony that included garden crafts, music and physical activity education.

Medtronic Spine Revenue Declines 2.7 Percent

Medtronic Inc. said its profit gained in the fiscal first quarter, buoyed by strong international growth and geographic expansion as well as robust demand for cardiac and vascular devices.

Memphis Banks Show Broad Improvement

Banking in Memphis is in the midst of a rebound, judging by the latest numbers from the Federal Reserve Bank of St. Louis.

Hardy Pushes Intermodal Sites for New Jobs

Carolyn Hardy admits she pushed hard to get the intermodal container yard that opened this week in Hickory Hill completed faster than the two years many contractors told her it would take.

GTx Treatment Fails to Meet Goals

Shares of GTx Inc. plunged on Monday after the drugmaker said an experimental treatment with the potential to prevent and treat muscle wasting in cancer patients failed to meet its goals in two late-stage clinical trials.

Healing Music

Musicians for Le Bonheur prepares to release CD

A sign hangs in the lobby at Le Bonheur Children’s Hospital acknowledging the charitable efforts of an arguably unlikely group of hospital supporters.

Armstrong Orders New School Board Election

For a second time, results in the August 2012 elections have been successfully contested in court.

Local Startup Screwpulp Gaining Attention

Memphis-based startup Screwpulp, which participated in the latest cohort of the Seed Hatchery accelerator, has been busy in recent weeks.

Ford Road Elementary School Charts Progress

The school year before Ford Road Elementary School became part of the seven-school Innovation Zone within Memphis City Schools, no more than 17 percent of its students were proficient or advanced in reading, math or science.

Hieroglyph Hitting Stride at One-Year Mark

A few months ago, the Levitt Shell, which recently unveiled its fall season lineup, got an updated website and brand.

Northside School for Detained Juveniles Opens

The charter school that opened for class Thursday, Aug. 15, in North Memphis is unique for several reasons.

SPORTS

Area Teams Set Sights on Dream Seasons

When last we saw the University of Memphis football team, the Tigers were finishing Justin Fuente’s first season on an inspiring three-game winning streak. They checked out of Conference USA with a 4-4 league record. They provided hope as they start play this season in the new American Athletic Conference.

Tigers Release 2013-2014 Basketball Schedule

Tigers basketball coach Josh Pastner expended a lot of energy stumping for Conference USA in hopes it ultimately would help The University of Memphis gain a better seed in the NCAA Tournament. But it never really worked out that way.

‘Process’ Keeps Alabama, Saban on Top

The best coach in college football admitted that he – and everyone else at Alabama – was proud of the team’s recent accomplishments. You know, two straight national titles and, if you want to deal in ancient history, three in the last four years.

MEMPHIS STANDOUT

Martin’s Program Keeps Girls Engaged in STEM Fields

Girls Inc. is a national nonprofit providing girls ages 6-18 with after-school and summer programs, field trips and college tours.

MEMPHIS LAW TALK

Yoakum Helps Businesses ‘Move On With Their Lives’

Though the jump Brian Yoakum made at the beginning of August from The Biller Law Firm to Evans Petree PC was only a floor away, he saw a greater opportunity to broaden his practice areas and expand the services he could offer clients.

MEMPHIS NEWSMAKERS

Christ Community Health Services Names Hollabaugh Development Director

Bonnie Hollabaugh has joined nonprofit Christ Community Health Services, the largest primary care provider in Memphis, as director of development. Hollabaugh’s nonprofit development experience includes extensive work with Ronald McDonald House Charities of Memphis, Girls Inc. of Memphis and Hutchison School.

REAL ESTATE RECAP

Oklahoma Hotel Group Buys Baymont Inn

6020 Shelby Oaks Drive, Memphis, TN 38134, Sale Amount: $2.1 million -
An affiliate of Oklahoma City-based Champion Hotels has paid $2.1 million for the 103-room Baymont Inn & Suites Memphis East hotel at 6020 Shelby Oaks Drive in Northeast Memphis.

LOCAL COLUMNISTS

Views of Memphis

SURPRISE. THERE’S A BOOK. A couple of years ago, friend Willy Bearden – storyteller, writer, historian, filmmaker and lead singer in the Earnestine & Hazel House Band – and I worked on a project for Elmwood Cemetery. Willy scripted and produced a combination walking/driving tour of that magic ground and I voiced it, spending hours poring over the script with Willy and recording every word of it.

Drowning in Big Data

“We have so much data but no answers.” This phrase echoes down the halls of all of the larger clients with whom we meet. In a quantitative world, where there is every dimension of research and analysis available, unreality multiples. The business world is drowning in data and, by the level of panic and anxiety, has lost its rudder.

Your Budget May Need Revising

Ray’s Take No one ever likes it when I use the “B” word, but there’s a reason I do it.

In Search of Brain Fitness

In an article titled “Mentally Fit” in the July 29, 2013, issue of The New Yorker, Patricia Marx writes, “[A] study of six hundred and seventy-eight elderly nuns analyzed essays they’d written in their twenties and found that the sisters who had used the most linguistically complex sentences tended to have the lowest incidence of Alzheimer’s, which is why I’ve added this unnecessary subordinate clause even though it’s been a long time since I was in my twenties.”

Holdover or Holdup?

Holdover is a term used in commercial property leases that describes continued occupancy by a tenant beyond the expiration of the lease, also known as “tenancy-at-sufferance.” Most office leases usually devote a section of the lease to this situation and impose a financial penalty on the tenant for not taking action by either vacating the space, or renewing or extending the term. This financial penalty can sometimes be viewed by the tenant as a “holdup” by the landlord because it can amount to a considerable amount of money. Who’s really suffering here?

Selling in a Knowledge Economy

The Internet has created an unprecedented power shift in the marketplace. Gone are the days where the salesperson alone carries the lion’s share of the knowledge about the products and services he’s selling and therefore holds the power in a sales exchange.

My Taper Paper

Last week, we discussed the recent upshift in the global economy. The next major moment for the market will occur on Sept. 18 when 65 percent of economists expect that the Fed will announce a “tapering” of its quantitative easing program. The movement in the 10-year Treasury bond interest rate confirms this expectation as rates have now climbed to 2.84 percent, up from 1.6 percent three months ago.

Nonprofit Values and Efficiency

Board members with experience and connections in the private sector can help nonprofit organizations grow and think in new ways. And nonprofit service can help board members from the private sector to grow and think in new ways, too. Efficiency and cost reductions often contribute to business success. Time and energy is devoted to developing and implementing strategies that increase the efficiency, value and profit while decreasing costs. Technology, collaboration and innovation have factored greatly in this process.

Creating a Positive Mental Attitude

Very few people will probably disagree with the idea that developing and maintaining a positive mental attitude is helpful in sports, business and life in general.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 81 301 17,656
MORTGAGES 101 347 22,998
FORECLOSURE NOTICES 37 75 4,504
BUILDING PERMITS 208 722 41,947
BANKRUPTCIES 61 237 16,629
BUSINESS LICENSES 11 61 5,762
UTILITY CONNECTIONS 60 256 25,125
MARRIAGE LICENSES 14 80 5,365

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