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VOL. TMN-6 | NO. 4 | Saturday, January 19, 2013
Weekly Issue

Final Bell

Kriner Cash resigns as Memphis City Schools superintendent after five years

From the moment he became Memphis City Schools superintendent, Kriner Cash had competition.

Aitken Right Choice for Succeeding Cash

Kriner Cash carried the banner of specific and meaningful education reform far during his tenure.

Sammons Elected Airport Board Chair

Jack Sammons was elected Thursday, Jan. 17, as the new chairman of the Memphis-Shelby County Airport Authority board of commissioners.

Luttrell Preparing for County Tax Hike

A county property tax hike is probably on the way, according to Shelby County Mayor Mark Luttrell.

State Health Commissioner Talks Prevention

The School of Public Health at the University of Memphis on Tuesday, Jan. 15, welcomed Tennessee Commissioner of Health Dr. John Dreyzehner and his health policy team to the Fishbowl Room inside the FedEx Institute of Technology for a “town hall” discussion of public health and economic issues that affect our community.

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Solid Foundation

Shelby County homebuilders rally with strong 2012

Local homebuilders filed 26 percent more permits in 2012 than 2011, the culmination of a dramatic change in the market that began last May.

County Wage Theft Ordinance Defeated

After weeks of discussion, talks between Shelby County Commissioner Steve Mulroy and leaders of the city’s hospitality industry broke down on Mulroy’s “wage theft” ordinance.

Conrad, Flinn Pitch Cost-Saving Measures for City

Memphis City Council member Kemp Conrad wants to explore selling city assets, including Memphis Light, Gas and Water Division, and using the proceeds to establish a trust fund for early childhood education and other “wrap around” social services.

Debt Drama

Memphis financial veterans sound off on debt ceiling

One of the common refrains among money managers and economists in Memphis is that the nation’s political leaders spend too much time wrestling with crises and not enough actually solving problems.

Deadline Fast Approaching for Pinnacle Awards

The Memphis Area Association of Realtors Commercial Council is well under way in planning the 12th annual Pinnacle Awards ceremony, a night dedicated to showcasing commercial real estate industry professionals in the area.

Health Care Alignment Trend Accelerates

The trend for alignment between hospital systems and private physicians hit the Mid-South in mid-2010 and has gained momentum since.

Public Relations Firm Hosts Business Symposiums

The Carter Malone Group LLC wants to help area small business owners figure out how the cookie crumbles, so to speak, when it comes to entrepreneurship and owning a business venture.

Signs of the Times

Electrolux plant shows shift in economic development strategies

Memphis Mayor A C Wharton Jr. called the Electrolux Memphis manufacturing plant a “monster plant” this week after a tour of the $266 million manufacturing center in Frank C. Pidgeon Industrial Park.

RedRover Uses Numbers, Strategy for Growing Client Roster

When it comes to a traditional agency model, RedRover Sales & Marketing is anything but traditional.

Construction Nears for Crews Ventures Lab

Construction is about to get under way on the University of Memphis’ Crews Ventures Lab, a business startup facilitator and incubator that will expand the possibilities available to the school’s entrepreneurially minded students.

‘Stable’ Foreclosures

5 percent increase in 2012 not necessarily good sign

The Crowne Plaza Hotel at 300 N. Second St. sits on a little less than two acres near Interstate 40. The Shelby County Assessor of Property’s 2012 appraisal for the 11-story, 244-room hotel was $6.6 million.

Club Crave Ends, Larger Beale Dispute Continues

Club Crave, the latest nightclub at 380 Beale St. with a history of violence, is dead.

Public Relations Society Honors Duncan Williams

After Duncan Williams got handed his “communicator of the year” award at this month’s Memphis chapter of the Public Relations Society of America luncheon, he did something in keeping with the nature of the honor.

SPORTS

Is Grizzlies’ Best Behind Them or Yet to Come?

Is the Grizzlies’ potential not-yet-realized or grossly overestimated? That’s the only relevant question in the midst of Rudy Rumors, speculation about coach Lionel Hollins’ long-term future with the team, and the level of commitment new ownership is or isn’t willing to make in the here and now to this particular roster.

Pre-Grizz Comments Show Change is Coming

Deadspin.com has been getting a lot of publicity for breaking the story about the Manti Te’o girlfriend hoax. But the site also compiled a list that is of far more relevance to local NBA fans:

REAL ESTATE RECAP

Realty Income Corp. Buys Herbalife Facility

5025 Crumpler Road Memphis, TN 38141

MEMPHIS NEWSMAKERS

Guscette Named Sales Representative at P.O.P. Solutions

Ally Guscette has been promoted to sales representative at Germantown-based brand-marketing firm P.O.P. Solutions Group LLC. In her new role, Guscette will help businesses develop brand awareness through promotional products, press kits, print materials and point-of-purchase displays. She joined the company in 2011 as part of a sales team and begins Germantown Leadership training this month.

MEMPHIS LAW TALK

Christoff Aims to Empower Young Lawyers in Bar Role

Annie Christoff of Bass, Berry & Sims PLC is the new president of the Young Lawyers Division of the Memphis Bar Association for 2013.

MEMPHIS STANDOUT

Avant Finds Soul, Passion in South Main Neighborhood

In 2002, Ben Avant, now 35, was a young, Charleston, S.C.-based stock and bond trader with a world of possibilities at his feet and a heavy choice to make.

LOCAL COLUMNISTS

One Secret of 'The Secret'

Several years ago a short video went viral and spread the word throughout the land that you could pretty much have anything you want in life, including health, wealth and happiness, if you simply ask the universe for it in the right way. In a nutshell, it was yet another of the periodic Wallace Wattle-like rediscoveries of the power of positive thinking and creative visualization. In this case, the discovery was categorized as a so-called “Secret” that you too could gain access to for the price of the video.

Sharing a Student’s Success

Last week we highlighted our Samaritans Feet Shoe Distribution, providing more than 300 youth with new socks, shoes and unconditional compassion. This week, extending our “youthful” theme, let us turn the spotlight on a high school student who has overcome tremendous adversity to become a local success story.

Follow These Steps for Viral Video Success

My sister lives in South Korea. She doesn’t get to come home often, but what she discovered on a visit a few months ago baffled her. Gangnam Style was sweeping the U.S. At first, she was confused. She said it was a popular dance in South Korean clubs, and she’d heard it on Korean radio. But that did not explain why I was asking her to teach me the dance during a TV timeout at a football game at LSU last fall.

Online Reputation Could be Killing Business

A whopping 70 percent of consumers globally report trusting online reviews from strangers when making purchase decisions, according to Nielsen’s most recent Global Trust in Advertising study. In fact, four out of five consumers say they reverse their purchase decisions based on negative online reviews, according to a Cone study of online trends.

Three Components Will Determine 2013

Forecasting 2013 The fiscal cliff episode proved bullish for stocks. Fearful asset owners facing tax code uncertainty pulled outsized income and capital gains into 2012. Sellers quickly became buyers to complete the tax arbitrage. For the week ended Jan. 9, investors poured $18.3 billion into stock mutual funds and ETFs, the largest combined inflow in five years. This capital re-commitment has propelled the S&P 500 3.25 percent higher in 2013. Does this mean that 2013 will continue to see fantastic equity returns? Domestic stock returns are driven by three primary components – earnings, dividends and valuations. Let’s consider each to arrive at our forecast.

Factor Inflation in Your Retirement

Ray’s Take Did you realize that just a 2 percent annual inflation rate would result in 27 percent higher prices in a mere 12 years? If inflation were at 3 percent during that time period, prices would soar 43 percent. Three percent is the historic average inflation rate, but it has been much much higher at times. We have all been lulled into complacency in recent years with historically low inflation rates.

If a Tree Falls …

Last week’s column concluded with Susan and me in a hotel room in a neighboring city, to which we’d journeyed in a roundabout way to escape a cold, dark house on my birthday. We and 200,000 others were without electricity.

Status Quo: The Big Lie

In a recent Let’s Grow column, we tackled the hard subject of cognitive biases. Yet, we did not touch upon the most prevalent and insidious bias in business. This big lie is that the status quo exists. Nothing stays the same. Companies who strive to keep things the way the presently are – one definition of status quo – live a lie that is not sustainable. They get fixed and rigid, locked into a certain way of counting on the world, and then they crumble and fall.

A General Invitation

COME ON BACK TO ELMWOOD, GENERAL FORREST. And bring the missus and the horse along. The family’s waiting.

Create a Mission, Vision and Plan

Successful fundraising begins long before a fundraising plan is ever created. It starts with your organization’s vision and mission. These two items are at the core of nonprofit operations. It is the vision and mission that drive your strategic direction and goals. And it is the strategic direction that influences fundraising and the use of funds.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 67 67 10,289
MORTGAGES 107 107 13,434
FORECLOSURE NOTICES 24 24 2,668
BUILDING PERMITS 393 393 24,700
BANKRUPTCIES 60 60 9,952
BUSINESS LICENSES 16 16 3,752
UTILITY CONNECTIONS 149 149 14,706
MARRIAGE LICENSES 31 31 3,198

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