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VOL. TMN-5 | NO. 52 | Saturday, December 22, 2012
Weekly Issue

Midtown Momentum

Deals getting done in city’s most diverse submarket with more on the way

The Midtown real estate market has long been an anomaly compared to its Bluff City counterparts, with fundamentals as diverse as its demographics.

Plenty is Happening in the 38104 ZIP Code

Saying something different is happening in Midtown is like saying the sun will rise in the east each morning.

Perl Retires From Airport Board

The Memphis-Shelby County Airport Authority will begin the next year with an empty chairman’s seat as Arnold Perl retired Thursday, Dec. 20, after 31 years of service, including 16 years as the committee’s chairman.

FedEx Reports 12 Percent Earnings Drop

Memphis-based FedEx Corp. on Wednesday, Dec. 19, reported second quarter net income of $438 million, down 12 percent from last year’s $497 million. The company attributed the income drop to several factors, including weakness in global markets, higher fuel costs and disruptions resulting from Superstorm Sandy.

International Paper Touts Community Support

The Memphis-Shelby County Industrial Development Board meets Wed., Dec. 19, to consider a request from International Paper Co. for government tax incentives to support an expansion of its headquarters here.

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EVENTS

The 54th AutoZone Liberty Bowl Football Classic, featuring Iowa State University vs. University of Tulsa, will be held Monday, Dec. 31, at 2:30 p.m. at Liberty Bowl Memorial Stadium, 335 S. Hollywood St. The Temptations will perform at halftime. For a list of bowl week events, visit autozonelibertybowl.org.

more events »

Good News

Positive national attention and local chamber efforts cap 2012

There’s something newly electric in the air. That’s how the editors of National Geographic Traveler describe Memphis, putting the city in the category of 20 must-see places in 2013.

Fulton Accounting Firm Gets Rebrand and New Owner

Fulton CPAs is a full-service accounting firm that has a new name and is under new ownership.

Makowsky Ringel Greenberg Beefs Up Commercial Team

Makowsky Ringel Greenberg LLC is sharpening the focus of its commercial real estate division to stabilize its existing portfolio as well as build its third-party brokerage in the Memphis market.

Slam Dunk

Busy schedule of Grizzlies, Tigers games keeps businesses in the black

Historically, December isn’t the kindest month to Downtown Memphis’ economy. That’s compared to the summer months, when Beale Street and its surrounding areas are bustling with people visiting attractions, dining at restaurants and spending money on retail items.

Juvenile Court Reform Plan Announced

The U.S. Justice Department announced Tuesday, Dec. 18, an agreement with Memphis-Shelby County Juvenile Court that will put the Shelby County Public Defenders office in the role of defending juveniles who cannot afford to hire an attorney for court proceedings.

Brewer’s Publishing Unit Releases New Music

The new music publishing company from film director and Memphis native Craig Brewer has released its first song collection, Memphis musician Jason Freeman’s 10-song LP “Hex & Hell.”

Cancer Research Center Awards Seed Grants

The West Clinic, Methodist Healthcare and the University of Tennessee Health Science Center have initiated the dispersal of seed research grants to advance cancer research, education and care for patients in the Memphis area.

Commission Finds Barriers to Comparing Pre-K

The idea of universal pre-kindergarten in public schools across Shelby County – or at least an expansion of pre-kindergarten access with the coming August merger of city and county schools – is one goal of the schools merger that has a broad consensus.

Cutting-Edge Road Show

Medtronic debuts Catalyst mobile education center

Medtronic Inc. recently unveiled its new Catalyst mobile educational center, part of a small fleet of high-tech vehicles that the company uses to take hands-on training and education directly to spinal surgeons and other health care professionals across the country.

Bioworks Seeks to Restore Hotel

Memphis Bioworks Foundation is working to renovate the old Holiday Inn building in Memphis Medical Center into a mixed-use facility.

US Firms Seeing Fewer Women as Associates

There aren’t as many women associates working at U.S. law firms as there have been in the recent past.

Council Approves Property Tax Collection Merger

Timing did what decades of offers and counter-offers couldn’t do when it came to changing who collects current and delinquent property taxes for Memphis.

Cropping Up

Delta BioRenewables reaches milestone in sorghum production

Earlier this month, workers at the Delta BioRenewables plant at Agricenter International loaded a commercial-sized batch of the processed sugar juice from crushed sweet sorghum stalks into a commercial tanker truck.

Business Leaders Needed for New Mentor Group

Now that LaunchYourCity Inc. and its related programs like Seed Hatchery have gotten firmly off the ground and are wooing entrepreneurs and innovators who have ideas for high-growth startup companies to launch here, supporters now are turning to a new task.

SPORTS

W’s More Important Than Style Points for Grizzlies

Call it a slump. Or maybe a funk. Definitely, it was a three-game losing streak – the Grizzlies’ first of the season.

Easy to See Why Fans are Doubting Thomas

His Twitter handle is @AllDayThomas. Yet after the first nine games of this Tigers basketball season, Adonis Thomas is the first to admit his play has not lived up to that reputation.

REAL ESTATE RECAP

Delta Blues Winery LLC Buys 15 Acres in Lakeland

6495 Stewart Road Lakeland, TN 38002

MEMPHIS NEWSMAKERS

Towns Named to Southern College of Optometry Board

Leticia “Tish” Towns, senior vice president of external relations for the Regional Medical Center at Memphis, has been named to the Southern College of Optometry board of trustees. Among her duties at The MED, Towns oversees the development of the hospital’s strategic plan and manages marketing and communications, community engagement, the Traumatic Brain Injury program, government relations and pastoral care.

MEMPHIS LAW TALK

Gupta Trades Life of Science for Career as Patent Attorney

With a Bachelor of Science in biomedical engineering from the University of Pennsylvania and a new job in the Hematology-Oncology Department at the jewel of medical institutions, St. Jude Children’s Research Hospital, Hemant Gupta’s life appeared to set with a promising career in medical research.

MEMPHIS STANDOUT

Caylor to Lead Home Builders Through Changing Times

Don Caylor has been in the construction business for more than three decades and has been a member of the Memphis Area Home Builders Association for just as long.

LOCAL COLUMNISTS

So What Happened to Auburn?

For years I have been telling my clients that if you desire or need to change something in your life you basically have three options: You can change something about yourself (the least used, most effective option), you can try to change something about someone else (the most used, least effective option), or you can change something about your environment. With this in mind, I recently had an interesting conversation with a friend of mine who happens to be a serious Auburn University football fan.

Maximizing Your Return on Luck

Hunkering down in year-end strategic planning sessions, you are probably thinking about what’s next for the economy and how that will affect your business.

Holiday Safety Tips

Last week we explored an easy way we can start planning ahead to make 2013 a Year of Books by working with Shelby County Books from Birth to plant the seeds of literacy and help build a stronger foundation for our future. This week, with the holiday shopping season now in overdrive, it is the perfect time to review some helpful safety tips that will allow us to protect our family and friends and thwart the traditional holiday spike in crime.

These are Taxing Times

I find it very curious that the fiscal cliff was not a topic of any of the presidential debates of 2012. It was not mentioned by the candidates or the moderators. Yet within a week of the election results, it seems as though everyone has heard of the looming fiscal cliff and the black hole that lies beneath it. Ignorance may be bliss, but the unknown can be downright scary. Right now, most of us are staring into the black hole and wondering how this country will address the growing national deficit and in particular, how inevitable changes in tax policy and accounting rules will affect us in 2013 and beyond.

Top 2012 Social Media Campaigns

With the considerable growth in social media users, more brands are wading into the waters, allocating nearly 11 percent of their advertising budgets toward these channels this year – three times more than 2011.

Cash In on Cashing Out

While we may not know the details of next year’s tax increases, we do know that taxes will increase. This has created a rush of year-end tax planning to sell assets, issue dividends and claw compensation forward. In fact, hundreds of public companies have announced special dividends to pad investor’s pockets before year-end.

Grow in Spite of Flat, Saturated Market

As an industry matures it becomes saturated and players in the market struggle to maintain the robust growth they saw in the early days. Back then, the formula for growth was simple: invent a product or service, get distribution, expand internationally, then acquire and consolidate to dominate the market. What’s left?

Consider a Revocable Living Trust

Ray’s Take The main advantage touted for having a Revocable Living Trust (RLT) is to avoid probate, but its strengths go far beyond that.

A Candidate Makes Friends, Asks for Votes

The elections of 2012 are over. Under local law, a certain person was reelected, unopposed, to a fifth four-year term.

Thank You, Memphis and West Tennessee!

As the year comes to a close we want you to know how much we appreciate you, our readers. We appreciate your work to make this world a better place. Your efforts in neighborhoods, universities, hospitals, schools and in communities across the world are making a difference.

Christmas Coming Home

CHRISTMAS TIME Every Christmas I tell this story, and in the telling Christmas comes home.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 41 41 17,762
MORTGAGES 70 70 23,138
FORECLOSURE NOTICES 1 1 4,519
BUILDING PERMITS 163 163 42,320
BANKRUPTCIES 50 50 16,741
BUSINESS LICENSES 14 14 5,795
UTILITY CONNECTIONS 113 113 25,287
MARRIAGE LICENSES 18 18 5,399

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