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VOL. TMN-6 | NO. 44 | Saturday, October 26, 2013
Weekly Issue

‘Intertwined’

Memphis Grizzlies continue working way into city’s DNA

In 2007, the Grizzlies were no longer a novelty in Memphis. They also were no longer a playoff team. Rather, they were a punch line lost in the expansive blue and gray shadow of the University of Memphis and a fast-talking operator/coach named John Calipari.

Editorial: Nation Biggest Loser In Latest Political Game

Think of this as a game that two people want to play with each other but not let anyone else intrude upon, especially those most affected by the game.

EMPHASIS Public Companies

Chasing Growth

Memphis’ Fortune 500 companies chart paths forward

The pressure to show investors growth and a return is one of the most basic realities of operating as a public company.

Chafetz Helps Businesses Navigate Financial Straits

When the economy took a swan dive five years ago, many companies found themselves on the bargain basement rack.

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State Lags for Women in Corporate Positions

Tennessee’s corporate boards are showing slow growth in gender diversity levels, although rankings are still among the lowest in the nation, according to the latest findings of an annual study.

Performance Ranges Widely at Local Companies

Here’s a snapshot of the recent performance of some of Memphis’ publicly traded companies – businesses that cast a shadow far beyond the Memphis city limits in industries including finance, package delivery and bioscience.

THE MEMPHIS NEWS ALMANAC

This week in Memphis history: October 25-31

1993: Exhibition NBA game at The Pyramid between the world champion Chicago Bulls, featuring Michael Jordan and Scottie Pippen, and the Washington Bullets.

Fright Nights

Haunted houses highlight another spooky season

Although his official title is owner and operator of Hauntedweb of Horrors in Cordova, Patrick French’s friends and colleagues call him The Haunt Master.

Business Licenses Increase 4.9 Percent in Third Quarter

Business licenses filed with the Shelby County Clerk’s Office in the third quarter rose nearly 5 percent over third quarter 2012, and increased even more compared to the second quarter this year, according to The Daily News Online, www.memphisdailynews.com.

First Horizon Reports Third Quarter Loss

The Memphis-based parent company of the largest bank based in Tennessee swung to a third quarter loss, with a $200 million addition to its mortgage repurchase reserve contributing to a loss for the quarter of $107.5 million.

Smaller Manufacturers Feel Device Tax

Controversy continues to swirl around the new medical device excise tax that went into effect on Jan. 1.

Fullilove’s Funding Push Raises Legal Questioning

Memphis City Council member Janis Fullilove pushed hard for $1.5 million in city funding for the renovation of Southbrook Mall in Whitehaven.

Hopson Offers Clues on Suburban Schools Transition

Shelby County Schools superintendent Dorsey Hopson says it is looking less likely that the school system will provide support services to the new suburban school districts.

Rich Tapestry

RiverArtsFest brings broad spectrum of works to South Main

Bonnie Thornton has a mission at this year’s RiverArtsFest that goes beyond her role as director of the festival’s Artist Market: she’s helping a fledgling art collector get his start.

Catholic Charities Launches Program For Homeless Veterans

This month Catholic Charities of West Tennessee launches a new program called St. Sebastian Veteran Services to provide critical assistance to homeless veterans and their families and to those facing imminent eviction or foreclosure.

Football Part of Planning at LeMoyne-Owen

The new $13.5 million four-story residence hall at LeMoyne-Owen College that formally opened Friday, Oct. 18, is the latest symbol of growth on the campus of the city’s only historically black college since 2006.

Contested Judicial Elections Spark Debate

Memphis attorneys John Ryder and Gary Smith both think it is a bad idea to have contested elections for state appeals court judges.

Richland’s McNary Recognized For Achievement

When the school year began in August, Richland Elementary School principal Sharon McNary gave her teachers plastic action figures that could stretch.

Indie Memphis Offers Innovation-Themed Programs

This year’s Indie Memphis Film Festival will again offer a slate of programming tied to the concept of innovation and include guest speakers such as the president of the multimedia news organization The Onion, as well as presentations that complement the festival’s film offerings.

Industrial Revolution

Patience, persistence pay off as Pidgeon nears capacity

Frank C. Pidgeon Industrial Park was completed in 1967, but it’s only now, four-plus decades later, that the property is finally realizing its full potential.

Students In Unincorporated County Move Into Focus

It was the issue that didn’t get a lot of public discussion in the initial move to form suburban school districts in Shelby County.

Mobile Health Clinic Hits Streets to Help Homeless

Baptist Memorial Health Care and Christ Community Health Services rolled out a new state-of-the-art mobile health clinic earlier this month, and the larger, modernized vehicle will give Baptist Operation Outreach the ability to treat more of the area’s homeless population in need of medical care.

Berklee City Music Network Conference Returns to Memphis

A national music conference is headed to Memphis, bringing a variety of leaders in education and fundraising, plus youth groups and music teachers, to the Westin Memphis Beale Street Hotel and Minglewood Hall for a concert and master class.

Council Committee Looks Broadly at Council Rules

A trio of Memphis City Council members weighing possible changes to the council’s way of conducting business has more questions at the outset than answers about what kind of conduct is allowed and what shouldn’t be on the elected body.

International Paper Earnings Surge 38 Percent

Memphis-based International Paper Co. reported third quarter net earnings of $382 million, an increase of $145 million, or 38 percent, from the third quarter 2012 net earnings of $259 million.

Rapid Return

MATA again tries express route with Whitehaven Flyer

Downtown to Whitehaven on a city bus in a half hour is quite an achievement in a city with limited experience with modern bus express service.

East Memphis Retail Center Sees Positive Lease Activity

The Shops at Chickasaw Gardens, on Polar Avenue near the Benjamin L. Hooks Central Library, has seen good leasing activity recently.

Memphis Economic Indicator Shows Business Optimism

The results of the second Memphis Economic Indicator, a new survey measuring general business sentiment jointly produced by The Daily News and Dixon Hughes Goodman LLP, reflect a modest overall improvement in optimism among business leaders compared to last quarter’s survey results.

HUD Adviser Talks Housing for Homeless

Jennifer Ho said she views her job as a senior adviser to U.S. Housing and Urban Development Secretary Shaun Donovan as looking at the problem of homelessness like a jigsaw puzzle.

Local Banks Raise Capital to Fund Growth

When banks pass the hat, rounding up new capital from investors to finance future growth, it tends to be a sign those banks believe the economy is getting better.

Race for the Cure Ready at New Home

Participants in Saturday’s Komen Memphis-MidSouth Race for the Cure will see some significant changes this year.

Midtown Kroger Construction to Start

With a few amendments by the Memphis-Shelby County Board of Adjustment Wednesday, Oct. 23, the new Midtown Kroger supermarket rolled out of the planning and zoning process and into preparation for demolition of the old Belvedere apartments building and construction of the new store.

SPORTS

Alabama, Parity Dominating SEC Football This Season

The Southeastern Conference’s dominance is well known – seven consecutive national championships, the last two by Alabama. That dominance also has had depth. Last season, the SEC had six of the top 10 teams in the final Bowl Championship Series (BCS) standings.

Cardinal Way Has St. Louis Back in Fall Classic

From 2002-2006, the St. Louis Cardinals had a farm director named Bruce Manno. He was a guy who had his own ideas on how things should be done. One of them was to require that all Cardinal minor-league players – from Rookie ball to Triple-A Memphis – wear their pants pulled up to their knees so their stirrup socks would show.

College Football Notebook: Oct. 25, 2013

The Mad Hatter is not happy. LSU coach Les Miles spent his offseason complaining at the crossover schedule his team got – tough – and the crossover schedule Alabama got – not so tough.

SMALL BUSINESS SPOTLIGHT

Yuletide Office Solutions Adapts to Changing Industry

Paperless office. It’s a phrase to strike fear in the heart of any office supply provider.

REAL ESTATE RECAP

Campbell Clinic Pays $3.2 Million for Surgery Center

255 Dr. Martin Luther King Jr. Memphis, TN 38104, Sale Amount: $3.2 million -
Campbell Clinic has paid $3.2 million for the Midtown Surgery Center at 255 Dr. Martin Luther King Jr. Ave.

MEMPHIS NEWSMAKERS

Fisher Joins Boy Scouts Chickasaw Council as CEO

Richard L. Fisher has joined the Chickasaw Council of the Boy Scouts of America as chief executive officer. In his new role, Fisher will extend character development and leadership skills to youth who live in the Chickasaw Council territory, which includes the Mississippi Delta, Memphis, and Shelby and Crittenden counties.

MEMPHIS LAW TALK

Jehl Stands Up For Those Unable to Defend Themselves

Attorney Cameron Jehl has ventured out on his own, opening the Jehl Law Group PLLC at 60 S. Main St. in Downtown.

MEMPHIS STANDOUT

Diverse Background Helps Garrard Find Career Calling

Mike Garrard has popped the top on a new career as executive director of the Silvercreek Senior Living Center in Olive Branch.

LOCAL COLUMNISTS

Bite Yourself Before You Get Bitten

A few weeks ago we attended the FedEx Institute of Technology’s Innovation Expo to hear Philip Mudd, formally of the CIA and FBI, speak about risk, and A.G. Lafley, CEO of Procter & Gamble, discuss product development and market strategy. We will share with you their messages in our next two columns, as both had unique insight on strategy.

Leadership Memphis Boosting School Success

It is often said that good leaders inspire others to have confidence in their leadership. Great leaders inspire others to have confidence in themselves. This is exactly what the great leaders who have been a part of Leadership Memphis for the past thirty-five years have done; encourage the greatness in the emerging leadership in Memphis.

Beware Of Fundraising By Crisis

The first 16 days of October were a demonstration of “governing by crisis.” The federal government was shut down, hundreds of thousands of government employees were furloughed; small businesses, nonprofits, and individuals were impacted in ways big and small; and the business of governing was brought to a standstill because Congress could not pass a budget.

Reconfigured Interchange To Improve Traffic Flow

Phase II of substantial improvements are about to begin on the Interstate 40/240 interchange in East Memphis that will address the expected traffic increase in this area for decades to come. The average daily traffic (ADT) on I-40 has grown from 49,000 vehicles in 1985 to about 200,000 vehicles a day in 2013. By 2035, projections show the interchange could be handling well over 350,000 vehicles.

How to Discount Without Harming Brand Integrity

Ask a sales rep for the No. 1 objection they face with prospects and more often than not, they’ll say that it’s price. Given the state of our economy over the last several years, price can certainly be a legitimate concern. Often, however, a price objection is merely habit – the tendency of the buyer to attempt to negotiate before making any purchase. Or it may actually be another objection, one that’s more personal or revealing, in disguise. For example, a prospect might cite financial concerns to mask the fact that they have to consult with the real decision maker, which they failed to share with you upfront.

Patents: What Happens in Nature Stays in Nature

Medical research faces an interesting conundrum. Certain medical breakthroughs offer tremendous potential for detecting and treating various diseases, which can provide monetary returns mostly through related pharmaceuticals, analytical tests and medical procedures.

Avoid the Blog Bait

Last week, the keystone cops in Washington signed yet another procrastination resolution to our festering debt and deficit issues. No matter. The market rallied into our fiscal D-Day and right after it to new all-time highs. Why? While the volume of reporting on the debt ceiling has grown substantially, the event itself is old news. Congress has raised the debt ceiling 45 times since the late 1970s. The debt level reached within 2 percent of the ceiling 37 of those times.

Could You Be Facing Disaster?

Ray’s Take Studies claim 70 percent of Americans are a mere three weeks from being unable to pay household bills – largely because they live paycheck-to-paycheck with little to no reserves to fall back on if anything out of the ordinary happens. This is not just at the lower income strata. It includes high earners too.

Stop the Unwanted Calls

Harassing phone calls. What other term would fit? For months now – over a year, for sure, two years perhaps – at home, on our land line, we receive up to a dozen nuisance calls per week. This in addition to the unwanted marketing calls. Far more, really, than we ever received before the appearance a few years ago of the Do Not Call List. Or whatever it was called.

A Few Words Before Takeoff

PRE-FLIGHT MESSAGES

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 327 11,765
MORTGAGES 76 371 15,350
FORECLOSURE NOTICES 41 112 3,023
BUILDING PERMITS 382 972 28,226
BANKRUPTCIES 65 345 11,307
BUSINESS LICENSES 19 117 4,155
UTILITY CONNECTIONS 184 700 17,184
MARRIAGE LICENSES 20 100 3,564

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