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VOL. TMN-6 | NO. 10 | Saturday, March 2, 2013
Weekly Issue

South Main’s New Life

South Main’s era of rebirth highlighted by $100 million cash infusion

The history of the South Main Historic Arts District is as colorful as its present-day users, an alternating rhythm of sorts in Memphis’ songbook.

South Main Growth Should Be Celebrated

If those planning the emerging renaissance in the South Main district find the formula for preserving the “vibe” that makes the area unique and growing the district in the process, they should apply for a patent.

EMPHASIS Financial Services

Changing Times

Morgan Keegan name disappearance leads financial sector highlights

After a four-decade existence, the Morgan Keegan name has been retired.

Argent Financial Sees Growth in Memphis, Beyond

Argent Financial Group hasn’t let its foot off the gas since arriving in Memphis.

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Waddell’s Ideals Centered on Consistency, Honesty

At a recent appearance in Nashville before an audience of 100 clients, friends and employees at the Country Music Hall of Fame, David Waddell of Waddell & Associates Inc. gave his company’s annual state of the union address.

Marston Group Grows Globally, Locally

A growing accounting and finance firm is going global and local at the same time.

Respecting Time

Dunavant Award honoree strives for efficient jury process

For Clyde “Kit” Carson, the road to becoming Shelby County Jury commissioner began when he was 16 years old and looking for as much time driving a car as possible.

Hollywood Feed Expands, Renews Local Leases

Hollywood Feed has renewed and expanded two of its Memphis locations.

Business Executives Discuss Grizzlies' Impact

For years, FedEx Corp. has brought in 50 of the nation’s leading MBA students to try and recruit them to Memphis.

Kiesewetter Law Firm Inks Lease at Forum III

Jenny Kiesewetter is getting ready to move her boutique law firm into what will be its third home in three years, a product of the workload for employee benefits attorneys like her swelling with each passing month as new regulations come down from the federal government.

Donor Recognition

Lifeblood celebrates 50th anniversary by honoring those who give

For more than 50 years, Lifeblood has served an invaluable function to the local community by working with hospitals to meet the constant demand for clean units of blood to be used for traumas and other surgeries.

Legal Path to Special Master Unclear

If U.S. District Court for the Western District of Tennessee Judge Samuel “Hardy” Mays appoints a special master to oversee the merger of Shelby County’s two public school systems, there are legal questions about how much authority the master would have and precisely what he or she would do to advance the merger’s pace.

ServiceMaster Posts Operating Loss in 2012

The ServiceMaster Co. reported an unaudited operating loss of $532.8 million in 2012 on operating revenue of $3.1 billion.

Commission’s Schools Debate Has Political Crossover

When U.S. District Court for the Western District of Tennessee Judge Samuel “Hardy” Mays summoned attorneys from all sides in the schools merger case to his conference room Monday, Feb. 25, there was someone else in the room.

Downshift

AutoZone blames slower sales on tax refund delay, winter weather

No company is completely immune to the effects of political squabbling in Washington, the stakes of which have intensified lately for the average taxpayer.

Turley: ‘You Can Be Somebody in Memphis’

Years after Henry Turley experienced the Memphis sanitation workers’ strike and the aftermath of Martin Luther King Jr.’s assassination, took advantage of the Community Reinvestment Act and persuaded banks to reinvest in the Downtown core, not to mention spearheaded revitalization in the Harbor Town and Uptown areas, he’s making a “micro bet” on building nice neighborhoods around excellent schools.

Kroc Center Opens to Big Crowds

To cap off Healthy Heart Month, the new 100,000-square-foot Kroc Center held its open house and ribbon-cutting ceremony last weekend.

Women’s Center Expands Health Care at Memphis VA

The Memphis VA Medical Center at 1030 Jefferson Ave. recently held an open house and ribbon-cutting ceremony to announce the opening of its new $5.3 million Women’s Center, which should help to meet increased demand for services for returning female military personnel.

Leading the March

Petrina’s passion for The Peabody shows in duckmaster role

Two times a day, every day, The Peabody hotel guests that Anthony Petrina is responsible for perform their time-honored routine, eliciting camera flashes and adoration from tourists while helping preserve the continuity of a popular tradition at the hotel.

Barbic Says Coexistence at Humes Possible

The superintendent of the state-run Achievement School District believes there is room at Humes Middle School for an optional school and the ASD charter school now at Gordon Elementary School.

Several Paths for School Funding Possible

The most important number at a weekend Shelby County Commission budget retreat was not the $145 million in new funding the countywide school board has asked for.

Dunavant Grows Logistics, Transportation Divisions

Dunavant Enterprises Inc. continues its transformation into a purely third-party logistics and asset-based transportation firm.

ADDYs Boast Creative Industry’s Finest

The tall ceilings and 100-year-old wood flooring of the historic 409 S. Main St. building were right in line with the American Advertising Federation Memphis’ 2013 ADDY Awards ceremony, themed beware of “The Creeping Boredom.”

SPORTS

Grizz Showing Scrappiness as Final Stretch Awaits

Ever notice how the view from the winning and losing locker rooms is never the same, even though the teams played in the same game?

Tigers Misstep Under National Spotlight

D.J. Stephens was 1-for-6 from the free-throw line when, at game’s end, he needed to miss a foul shot on purpose to give the Tigers one last desperate chance at a tip-in that would have tied the game at Xavier.

MEMPHIS STANDOUT

Campbell Clinic’s Mihalko Keeps Athletes in the Game

Competitive athletes face tough choices when it comes to fixing worn-out joints and no one knows that better than another competitive athlete.

MEMPHIS LAW TALK

Riley Takes Reins Of Women Attorneys Group

Fran Riley was named president of the Association for Women Attorneys at the organization’s 33rd annual banquet and silent auction last month.

MEMPHIS NEWSMAKERS

Keller Named President of Nonprofit Meritan

Melanie A. Keller has been named president of Meritan Inc. Keller, who joined the nonprofit social services agency in 2006, previously served as its executive vice president. In her new role, she is responsible for oversight of more than 500 employees and contractors as well as the agency’s $21 million annual budget. Keller also manages its quality improvement and strategic planning efforts.

REAL ESTATE RECAP

U of M Files Permit for New Residence

3615 Central Ave. Memphis, TN 38111

LOCAL COLUMNISTS

A Higher Order of Sausage

GOD’S SAUSAGE. (When you see this column, it’s the 40 Days of Waffle Shop again, so strike while the iron is hot.)

Five Big Ideas: Powering Your Business

As Jim Collins explains in “Great by Choice,” all business leaders are bombarded with both great luck and bad breaks. The smartest CEOs learn not to squander sudden opportunities and figure out how to turn dismal news to their advantage – multiplying the benefits of whatever hand they’re dealt. Maximizing your “ROL” (Return on Luck) should be top of your list, every day. But your ROL is just part of the picture. Here are four more ideas that will help you achieve great results in 2013 and beyond.

Team Building Provides Secret to Fundraising Success

Part two of a two-part series. It’s all about leadership and team building. You’ve heard the refrain, but what does it mean?

Savings Isn’t Only Pillar of Successful Retirement

Ray’s Take I’m always emphasizing the importance of saving for retirement. However, you need more than a savings plan if you want to improve your odds for a more fulfilling “third act” of life. You also need to have a plan for what you actually want to do with your time.

Message from the DOC

The voice mail message on my private office line went like this: “This is (name omitted) at (address omitted). Recycling gave me this number. I’m trying to get a trash barrel for my house. It’s been three months since we had one, and I’m using my neighbor’s. Someone get in touch with me as soon as possible at (phone number omitted).”

Shift From Monologue to Dialogue

For more than a decade, companies have slowly shifted their focus to fit an era of deep consumer engagement. They have begun to embrace social media management, and they are better integrating print and TV campaigns with their online and social media presence. Unfortunately, it’s not enough.

Alas, Poor Henry and the Problem

According to legend, Henry Ford scoffed at market research and what we now call Consumer Insights, proclaiming, “If I had asked people what they wanted, they would have said faster horses.” While there is a certain degree of wisdom in this statement, it has been misquoted to justify bad, hubris-inspired product failures by too many corporate egos.

BRIDGES to Oz

Last week we focused on a new form of mentorship, aimed at talent development and retention, with the University of Memphis and their LEAD program’s Professional Connection Lunches. This week let us discuss an organization that is uniting and inspiring diverse young people to become confident and courageous leaders committed to community transformation: BRIDGES.

Opposing Forces Cause Swirling Economy

Remember Relative Value One by-product of the Federal Reserve’s loose monetary policy is the widespread positive returns that numerous asset classes have been able to experience. For instance, from March 9, 2009 (the closing low on the S&P 500), thru Dec. 31, 2012, the cumulative returns of the SPDR Barclays High Yield Bond ETF (JNK) and the SPDR S&P 500 ETF (SPY) have been 128 percent and 127 percent, respectively. Whether your chosen investment was high-yield bonds or the 500 stocks in the S&P 500, returns have been identical since the bottom.

The Last-Second Madness

Many people in the relatively danger-free world of modern white-collar workers seem to be stressed out these days. Perhaps this is because they are ill-equipped to function in the modern world. I’ve been playing around with mathematics and time to help explain what is going on.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 54 266 12,031
MORTGAGES 111 406 15,756
FORECLOSURE NOTICES 27 107 3,130
BUILDING PERMITS 0 606 28,832
BANKRUPTCIES 73 364 11,671
BUSINESS LICENSES 17 119 4,274
UTILITY CONNECTIONS 121 549 17,732
MARRIAGE LICENSES 23 104 3,668

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