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VOL. TMN-6 | NO. 24 | Saturday, June 8, 2013
Weekly Issue

Government Largesse

State’s, FBI’s need for space bolstering commercial real estate

These days, it seems like office real estate brokers are fighting tooth and nail to find office space for government tenants.

Editorial: A Few Suggestions for Our City Leaders

For the last three years or so the game at City Hall has been to move money around from one pocket to another to try to make projects happen in the toughest economic downturn since the Great Depression.

THE MEMPHIS NEWS ALMANAC

June 7-13: This week in Memphis history

1973: On the front page of The Daily News, the Shelby Farms Development Board voted to back the sale of the 2,000-acre site of the old Shelby County Penal Farm to Rouse Co. of Columbia, Md., and Boyle Investment Co. of Memphis for development of the land as a residential community. The action went to the Shelby County Quarterly Court. The land is now Shelby Farms Park.

First Tennessee Buys Mountain National Bank

First Tennessee Bank has bought a failed bank from the Federal Deposit Insurance Corp.

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EVENTS

The Daily News will present Literatini, benefiting Literacy Mid-South, Thursday, June 13, from 6 p.m. to 9 p.m. at The Booksellers at Laurelwood, 387 Perkins Road Extended. The event will include martinis and food, an auction, live music and a wine pull. Tickets are $50 per person or $75 per couple. Visit literacymidsouth.org.

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Cozymel’s Site Could Grow in Scope

Now that the old Cozymel’s restaurant has been razed, public documents shed light on what is in store for the Poplar Avenue property.

Next Wave

Children’s Museum debuts fun summer educational opportunities

What do you follow a splash park with at the Children’s Museum of Memphis?

Daily News, Dixon Hughes Goodman Unveil Business Sentiment Survey

The Daily News has teamed up with one of the largest CPA firms based in the Southeast to launch a new feature that will complement the data-focused snapshots of business activity the newspaper publishes each quarter.

Lee House Renovation ‘Ready to Go’

The group that wanted to convert the historic James Lee House in Victorian Village has purchased the home and construction is expected to begin in the next few weeks.

Pre-Kindergarten Expansion in Funding Limbo

The idea of a city sales tax hike to fund an expansion of pre-kindergarten classrooms in Memphis schools may have been buried this week.

Chandler Reports Launches Online Storefront

A leading provider of real estate news has opened a new online storefront. Chandler Reports, which is owned by The Daily News Publishing Co., launched the store, store.chandlerreports.com, because of the high demand for detailed reports on local foreclosures, lending, and residential and commercial sales.

Historic Preservation

U of M Special Collections lauded for helping MLK documentary

Tom Jennings, the director of “MLK: The Assassination Tapes,” and his colleagues heaped praises on the Special Collections staff at the University of Memphis, whose efforts helped the documentary about the assassination of Dr. Martin Luther King Jr. win the prestigious Peabody Award.

Red Carpet Tour Courts Site Selectors

Site selection experts from six nationally known firms got a “red carpet tour” from the Greater Memphis Chamber Wednesday, June 5, in a recruitment effort that included a look at the industrial infrastructure of the Memphis area.

Budget Reset Talks Lead to Fresh Drama

The Memphis City Hall budget drama turned from a budget reset into a political thicket Tuesday, June 4, as Memphis City Council members debated getting involved in the details of changing employee and retiree benefits.

Delta to Cut Flights, De-Hub Memphis

Memphis is losing its status as a passenger hub for Delta Air Lines. Delta executives announced Tuesday, June 4, the Atlanta-based airline will cut service to Memphis International Airport to approximately 60 daily flights starting in September, down from 92.

‘Made in Memphis’ Study Points to Hiring Challenges

A new report on manufacturing jobs in the Memphis area shows rapid growth through 2016.

Removing Barriers

Chisca redevelopment to properly connect Downtown sectors

While enjoying a meal near the Eiffel Tower in Paris, Terry Lynch reminisced on the wilting but salvageable Chisca Hotel in Downtown Memphis.

New EmergeMemphis Head Brings Big Ambitions

On his first day as the new president and CEO of EmergeMemphis, Carlton Crothers talked about a grand vision of “creating an innovation ecosystem” in Memphis.

Luttrell: City Has Year Left for Auto Inspections

The city of Memphis has a contract with the state of Tennessee and the Environmental Protection Agency to perform auto emissions testing through the next fiscal year, according to Shelby County Mayor Mark Luttrell.

Budget Vote Reveals Deep-Seated Differences

It wasn’t about line items when the Shelby County Commission approved a county operating budget Monday, June 3, for the fiscal year that begins July 1.

App Savvy

Memphis company finds niche in tech startup field

Memphis’ entrepreneurial ecosystem has picked up a steady stream of buzz and success in recent years, attracting new participants, mentors, startups and accelerators.

Achievement District Plans Include Two High Schools

The state-run Achievement School District has identified nine charter school operators that will run failing Memphis schools in the 2014-2015 school year including, for the first time, two high schools.

Guardian Relocation Expands Into Memphis

Guardian Relocation Inc. is seeking to make a name for itself in the Mid-South by planting its flag in Memphis.

Wharton Points to Decisions Beyond Budget Dilemma

The city of Memphis debt issues that prompted a critical report from the Tennessee comptroller’s office stem from the city’s 2010 decision to refinance the city’s debt and push it further out instead of dealing with it then, says city finance director Brian Collins.

Edge to Oversee Baptist’s $84.8 Million Cancer Center

In his earliest days as a surgeon specialized in treating breast cancer, Dr. Stephen Edge was fascinated by disparities in cancer care.

SPORTS

‘Lefty’ Highlights 2013 Golf Tournament Field

The biggest name at this weekend’s FedEx St. Jude Classic signed autographs as he came off the ninth green at TPC Southwind after his pro-am round and then stopped to chat with reporters.

Answering Memphis’ Hot Sports Topics

In a week with too many worthy column topics and too many valid questions deserving answers, let’s spend a few moments with each one.

MEMPHIS STANDOUT

Keller Finds Right Culture at RedRover

Catherine “Kitty” Keller is one of the newest members of the team at RedRover Sales & Marketing, and her addition comes at a time of a steady swelling of the ranks, a recent batch of awards and consistent business growth for the firm.

MEMPHIS LAW TALK

Strain Elected Shareholder at Baker Donelson

Jason Strain, a shareholder with Baker, Donelson, Bearman, Caldwell & Berkowitz PC, grew up with the idea of the legal profession being a “good and interesting job.”

MEMPHIS NEWSMAKERS

Commercial Advisors Adds Jensen to Capital Markets Group

Luke Jensen has joined Cushman & Wakefield/Commercial Advisors’ Capital Markets Group. In his new role with the commercial real estate firm, Jensen focuses on investment sales, debt and equity, development, and principal deal sourcing and structuring.

REAL ESTATE RECAP

University Cabanas Sell for $2.1 Million

2059 Vollintine Ave., Memphis, TN 38107

LOCAL COLUMNISTS

From an Architect’s Perspective

SEE THE DIFFERENCE IT MAKES. It’s not about money. Especially brand-new money. You can spend a ton of money on a building or a house and it can still be as ugly as original sin or as overdone as Donald Trump’s hair.

Asking ‘Why?’ Can Transform Your Organization

Part three of three-part series on transformational giving. Do major gifts to nonprofits fall from the sky, or are they more typically the result of deep commitment, relationships and the ability to use the tools and data available to nonprofits? We asked Barbara Pierce, founder of Transformative Giving, about how donor research supports transformational giving.

He Said, She Said: Part 1

The posting sent to the members of the cruciverbal community read, “We’re looking for seasoned ... puzzle creators to help us build puzzles for our game, (which) uses a unique crossword-influenced style of word puzzle where the answers are hidden in ... famous quotations. We’re (a small outfit) and ... can’t create puzzles fast enough for the players.”

Gender Matters in Advertising

While the gender divide among men and women continues to narrow in regard to workforce equality, recent research from Nielsen NeuroFocus, reported by TechVibes, uncovers significant differences in the way men and women think and make purchase decisions. In fact, the mere manner in which the two genders process information is fundamentally different.

Financial Speed Bumps for Innovations

The creative process of birthing breakthrough innovations can provide a substantial top-line boon but too often suffers a fatal flaw felt in failed product launch after failed product launch.

Safe Can Sometimes Become Risky

When is safe unsafe? Ever since the Federal Reserve began its zero interest rate policies, investors have searched for higher yielding assets. This makes sense. If you need income to run your household or make your pension distributions, you must locate investments that provide yield. If Treasury bonds will not, what will?

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 55 55 13,385
MORTGAGES 73 73 17,422
FORECLOSURE NOTICES 32 32 3,423
BUILDING PERMITS 623 623 31,553
BANKRUPTCIES 66 66 12,761
BUSINESS LICENSES 11 11 4,608
UTILITY CONNECTIONS 153 153 19,610
MARRIAGE LICENSES 44 44 4,104

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