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VOL. TMN-6 | NO. 28 | Saturday, July 6, 2013
Weekly Issue
THE MEMPHIS NEWS

Room Race

Memphis plays hotel numbers game in luring conventions

To illustrate the stiff competition Memphis faces in landing conferences and conventions because of hotel room capacity available in the city, Memphis-based hotel consultant Chuck Pinkowski points to a formidable foe just three hours away.

Editorial: Make Memphis Easier to Visit

Anew convention center is not going to happen any time soon. There is no political will to finance another large public space built on the premise of “if you build it, they will come.”

THE MEMPHIS NEWS ALMANAC

July 5-11: This week in Memphis history

2008: In The Memphis News cover story, Assistant U.S. Attorney Tim Di Scenza on the Tennessee Waltz corruption cases and the origin of the sting investigation: “For years and years and years – people have been complaining about the fact that we have in essence a corrupt Legislature – that we had corruption that was well known and epidemic in local government. And nobody seemed to be able to do anything about it.”

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Eastward Bound

Columbus statue could move from Downtown to Marquette Park

Another Memphis park may be getting a name change just as the controversy over three Confederate-themed parks starts to move again at City Hall.

19th Century Club, Lee House Facing Different Futures

Memphis Mayor A C Wharton Jr. said Monday, July 1, the Midtown mansion that has been home to the 19th Century Club on Union Avenue for most of the 20th century and some of the 21st will probably be demolished.

Wharton: Revenue Officer Needed

Call it a “budget resolution.” A week after the Memphis City Council set the city’s operating budget, capital budget and a property tax rate of $3.40, council members and Memphis Mayor A C Wharton Jr. resolved Tuesday, July 2, to continue making changes in City Hall’s financial practices.

Judicial Election Process Muddied

The Judicial Nominating Commission had a busy last few days before it went into limbo last week.

Mercedes-Benz Dealership Opening in Collierville

Construction gets underway later this month on a 41,000-square-foot Mercedes-Benz dealership in Collierville that will include a 16,000-square-foot showroom and provide about 50 new jobs for the area.

‘Back to Life’

Habitat ReStore helps revive dormant shopping center

Memphis resident Geraldine Harris has been shopping at the Habitat for Humanity of Greater Memphis ReStore since it opened two years ago, finding discount prices and unique items she couldn’t locate anywhere else.

Jones Keeps Peer Power’s Financial Foundation Solid

Kela Jones has carved out a niche building the fundraising arms of Memphis-based nonprofit organizations.

Strickland, Conrad Warn of Budget Pitfalls

When most of the 13 people on the Memphis City Council began their service in 2008, the city’s property tax rate was $3.43 and rolling back that rate was a priority of a voting majority on the body.

Energy, Diversity Highlight Memphis NewME PopUp

Brit Fitzpatrick stood in front of a small crowd of aspiring entrepreneurs as she rapidly clicked through slides that outlined the business model for Mentor Me, a technology program that helps match mentees with mentors.

The Show Goes On

Tennessee Shakespeare Co. absorbs funding ups and downs

Within the space of a week, Dan McCleary’s professional theater company lost major funding before almost simultaneously getting word that it has a big grant from Arts Midwest, in partnership with the National Endowment for the Arts.

Deadline Arrives for State’s Office Space Needs

The future of the state’s role as a major employer and user of office space Downtown could become much clearer next month.

Sullivan Travels Globe for Hilton

Sullivan Branding literally goes around the world for clients. Eric Melkent, executive vice president of brand development with Sullivan, along with account planner Kate Cooke, got back a few days ago from a globe-spanning trip to Shanghai and Orlando as part of their work with Hilton Worldwide luxury brands.

City’s Car Inspection Debate Shifts Gears

With the closing of the city’s four auto inspection stations Friday, June 28, a new phase begins in a political dispute that started its present path in the last year.

SPORTS

Franklin Looks to Honor ‘Grindson’ Nickname

One of basketball’s enduring lines is that if you’re open, there’s a reason. Does the same hold true for a player once projected as mid-first-round NBA draft choice slipping to No. 41 overall?

Grit ‘N’ Grind Lives On in Memphis

With apologies to the Rolling Stones, the Grizzlies’ off-season is its own lesson on the difference between what you want and what you need.

MEMPHIS STANDOUT

Bean’s Third Career Helps Researchers Around Globe

More than a decade ago, Bob Bean and Tim Hodge met at a Wendy’s near Baptist Memorial Hospital to discuss what it would take to develop a lab for genetically testing mice for use in research.

MEMPHIS LAW TALK

Clients, Service Take Precedence at Harris Law Firm

Michael Harris of The Harris Law Firm PLLC has high praise for the Drake University Law School, where he earned his juris doctorate.

REAL ESTATE RECAP

Kroger-Anchored Center Sells for $14.6 Million

4270 Summer Ave. Memphis, TN 38122 -
The Kroger-anchored retail center at 4270 Summer Ave. in Berclair has sold for $14.6 million.

LOCAL COLUMNISTS

Notes on Freedom

“AMONG THESE ARE LIFE, LIBERTY AND THE PURSUIT OF HAPPINESS” There were no fireworks or moving speeches but there were a few original works and classical movements. There were no marching bands or patriotic songs, but there was a chamber orchestra and a soaring aria or two. There was no Thomas Jefferson or a hot Philadelphia afternoon in 1776, but there was Mohammad Amin Sharifi and a hot Memphis afternoon in 2013.

Roaming Non-Rome

BELLAGIO, Italy – They don’t want you to nap too long in this town. Church bells ring about every seven and a half minutes, starting at 7:30. Chiming and chiding, they seem to say, “You’ve slept long enough.” (Good thing I don’t believe in jet lag. Who needs that third hour of sleep anyway?)

Think Before Giving Money to Children

Ray’s Take It’s natural to want to help out your adult kids or grandkids financially. However, it’s important to keep a close eye on your own financial situation as well as consider how any gifts could change your relationship with the recipients.

Central Bank Bumper Cars

Markets last week called Bernanke’s bluff and ended the second quarter on a high note. As we well know, Bernanke spooked markets with a timeline for dousing quantitative easing by mid-year 2014. Bond markets convulsed and the 10-year Treasury yield climbed from 1.61 percent to 2.67 percent. Why would Chairman Bernanke do such a thing?

Understanding Nonprofit Overhead Costs

A public discussion is stirring on the topic of nonprofit overhead and the extent to which overhead costs should influence giving. The three leading sources of information about nonprofits recently issued a call to action asking individual and institutional donors to stop using “overhead” as the measure of a nonprofit’s success. GuideStar, Charity Navigator and BBB Wise Giving Alliance have issued a call to donors to move beyond the “Overhead Myth.”

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 69 311 15,028
MORTGAGES 83 338 19,668
FORECLOSURE NOTICES 15 58 3,853
BUILDING PERMITS 0 512 35,842
BANKRUPTCIES 65 247 14,281
BUSINESS LICENSES 16 120 5,111
UTILITY CONNECTIONS 70 316 21,749
MARRIAGE LICENSES 18 93 4,650

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