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VOL. TMN-6 | NO. 31 | Saturday, July 27, 2013
Weekly Issue

Medical Mergers

New economic realities drive hospitals to buy private practices

In January, The Medical Group, an adult internal medicine practice in Germantown with seven physicians: Drs. Todd Overby, Alison Pomykala, Richard Jordan, Terinell Beaver, Steven Wener, Mark Castellaw and Dana Wright sold to Baptist Memorial Health Care Corp. after being independent since 1956.

Editorial: Financial Stability Critical for City

At the overtime sudden death end of the local budget season, if you live in Memphis you leave with a combined $7.78 cent tax rate – city of Memphis and county property tax rates – the highest property tax rate in the state of Tennessee.

EMPHASIS Health Care

Culture of Health

Company wellness programs get employees on right track

Local businesses are encouraging employees to get up, get out and get moving by offering wellness programs and financial incentives.

Hospitals Keep Eye on Patient Satisfaction

Local hospital administrators are focusing on improving everything from catering menus to patient and staff communication since Medicare last year began paying them partly based on patient satisfaction scores under the health care overhaul.

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McCullers Striving for New Model of Pediatric Care

Now in his second year as chairman of the Department of Pediatrics for the University of Tennessee Health Science Center and pediatrician-in-chief for Le Bonheur Children’s Hospital, Dr. Jon McCullers has been slowly building the children’s hospital into what he calls a nationally recognized academic health center.

Onyx Carves Niche in Medical Device Arena

Medical device firm Onyx Medical Corp. experienced a record year in 2012, and that momentum has carried over through 2013.

THE MEMPHIS NEWS

July 26-August 1, 2013: This week in Memphis history

2009: Willie Herenton’s resignation as mayor took effect and Memphis City Council chairman Myron Lowery became mayor.

Logjam

Overton Park Conservancy seeks parking solutions

The Overton Park Conservancy is using the summer-to-fall lull at the park to take another look at how to handle the large crowds the park draws as it adds and renovates attractions.

Former Theater Site Heads to Auction Block

The Internal Revenue Service is auctioning a Midtown building with an interesting history.

Ritz: School Finances Remain Complex

Shelby County Commission Chairman Mike Ritz said Tuesday, July 23, the commission is unlikely to increase funding to the countywide school system in the near future.

Cochon Heritage BBQ Event Returns to Memphis

Brady Lowe, founder of Cochon 555, said it was pretty much inevitable the Cochon Heritage BBQ series would return to Memphis this year.

Entry Point

Germantown planning for development on western gateway

The city of Germantown is embarking on an effort to guide growth and development of the city’s western gateway corridor for the next 20 years.

ASD Scores Down in Reading, Up in Math, Science

Student achievement test scores for the first school year of the Achievement School District shows students in the set of historically low-performing schools made gains in science and math proficiency but fell further behind in reading.

State Delays Office Lease Announcement

Groups hoping to garner the state’s real estate needs Downtown will have to wait a little longer to find out if they placed the winning bid.

Detroit’s Woes Worry Wharton

Memphis Mayor A C Wharton Jr. doesn’t think Memphis has the long-term financial problems or the indifference to those problems that prompted city leaders in Detroit to file an unprecedented bankruptcy last week.

New Route

Local travelers seek new frequent flier programs

For frequent fliers, the perks that come with elite status often outweigh miles.

White Paper: Young Alumni are Unique Givers

When it comes to charitable donations, members of the so-called millennial generation are in a unique class of givers.

Issues of County Budget Season Remain

The Shelby County property tax rate of $4.38 is ready for the tax bills that are to go out starting later this month.

Labor of Love

Memphis musicians juggle making a living with making music

One morning a few days ago, Jeff Hulett woke up earlier than usual.

Suburbs See Different Sales Tax Realities

While Shelby County and city of Memphis government leaders have grappled with the loss of property value and its impact on the property tax rates for both governments, suburban leaders have a different reality.

Cohen Addresses Paternity Test on MSNBC

U.S. Rep. Steve Cohen of Memphis told a national television audience Monday, July 22, that he wants to “get back to doing important work.”

First Horizon Posts Second Quarter Profit

First Horizon National Corp. posted earnings per share of $0.17 for the second quarter – a “solid, but not great” period for the bank, in the words of one analyst.

Eviction Notice

Registry aims to rid apartment complexes of drug dealers

Managers of apartment complexes and other rental properties in Shelby County used to have a good grapevine or network when it came to trouble tenants, especially drug dealers, who had been evicted.

Fresh Market Eyes Midtown Property for New Store

The Fresh Market, the upscale specialty grocery store, has had its sights on Midtown Memphis for some time and may have found the right address.

Business License Filings Fall 8 Percent in Second Quarter

The number of business licenses filed with the Shelby County Clerk’s office slumped 7.7 percent to 1,290 in the second quarter, compared with 1,397 in the second quarter of 2012, according to The Daily News Online, www.memphisdailynews.com.

Literacy Mid-South Joins ‘Our Children. Our Success.’

Editor’s Note: Part of a series about the “Our Children. Our Success.” campaign. The effort to prepare parents for what promises to be a milestone school year in Shelby County now involves the community’s recently retooled literacy organization.

SPORTS

Baseball Can’t Shake PED Drama

You know that baseball is nowhere close to solving its PED problem when on the same day the Ryan Braun 65-game suspension story breaks, one Manny Ramirez is playing at AutoZone Park for the Texas Rangers’ Triple-A team.

Carpenter Comeback in Jeopardy

There was a moment, albeit a fleeting one, when it looked like Chris Carpenter was on the way back to St. Louis.

MEMPHIS STANDOUT

Commissioner Harvey Home to Stay

As the Shelby County Commission began debating whether or not property tax rates caused homeowners and small-business owners to move out of the county, one commissioner was preparing to move to Dallas.

MEMPHIS LAW TALK

Giles Builds Solid Career as Construction Attorney

Justin Giles III spends his days entangled in the details of contracts and plans as a construction attorney with Evans Petree PC.

MEMPHIS NEWSMAKERS

Ady Joins Ballet Memphis as Ballet Master

James Ady has joined Ballet Memphis as ballet master. In his new role, Ady will teach morning technique classes, assist with community outreach programs, and rehearse and coach dancers for upcoming performances.

REAL ESTATE RECAP

Presidents Island Property Sells for $1.1 Million

2269 Channel Ave., Memphis, TN 38106, Sale Amount: $1.1 million -
CHS Inc., an Inver Grove Heights, Minn.-based agribusiness, has paid $1.1 million for 18.5 acres at 2269 Channel Ave. on Presidents Island.

LOCAL COLUMNISTS

Let’s All See the Light

ROAD TRIP TO MEMPHIS Recently, I visited my brother in Washington. His home is in the shadow of the National Cathedral, and I strolled up the hill for another pilgrimage – a bit of reflection among the 231 stained glass windows, a quiet moment shared with the 288 angels, and a chuckle or two under the gaze of the 112 gargoyles and the power of the force from the figure of Darth Vader atop the west tower. Really. He’s up there.

Purposeful Innovations

Many of the Let’s Grow columns discuss practical and theoretical strategies and tactics to help companies better innovate.

Why Invest Anyway?

Ray’s Take: There’s only two ways to earn money honestly. One is by working and the other is by investing so your assets work to make money for you. Unless you want to work forever or make so much money working you can’t spend it all, investing is the only way to be financially independent or achieve long-term goals like funding the kid’s college education or buying a vacation home.

‘Unleashed’ Delivers

I’ve written before of David Rosenfelt, whose 10th Andy Carpenter novel, “Unleashed,” has just been unleashed – uh, released. Andy Carpenter is a fictional solo-practitioner in Paterson, N.J. He’s independently wealthy, via inheritance and an early-career jackpot judgment in a civil case.

Narrowcasting Kills Broadcast Marketing

If you’re still operating under the marketing principles that worked 10 years ago, your brand equity and customer base may be slipping away before your very eyes. In many ways, the strategies that work today are polar opposites to those deemed effective a mere decade ago.

Evaluate Your Nonprofit From Funders' Perspective

Donors and funders don’t necessarily tell you why they won’t fund your nonprofit. Many will make their evaluation based your organization’s presentation and reputation without sharing their objections. But, if you know the criteria by which you will be judged, you can proactively prepare.

Earnings Deluge

Another week is in the books, resulting in another record close for both the Dow Jones Industrial Average and the S&P 500. Buoyed by some more accommodative comments from Federal Reserve Chairman Ben Bernanke during Congressional testimony this week, investors took the occasion to prop the U.S. equity markets to new highs. Coinciding with Bernanke’s testimony, a deluge of second quarter corporate earnings announcements was released. As a reminder, in this space last week, we wrote,

Alternative to Gordian-Knot Thinking

I always liked the so-called Alexandrian solution. In summary, there was a length of rope tied into an unbelievably complex knot in a kingless kingdom located in an area that is considered modern day Turkey. It was called the Gordian knot; named after an ox-cart driving peasant farmer named Gordias.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 65 366 17,721
MORTGAGES 70 417 23,068
FORECLOSURE NOTICES 15 91 4,519
BUILDING PERMITS 210 932 42,157
BANKRUPTCIES 62 299 16,691
BUSINESS LICENSES 19 80 5,781
UTILITY CONNECTIONS 49 305 25,174
MARRIAGE LICENSES 16 96 5,381

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