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VOL. TMN-7 | NO. 16 | Saturday, April 12, 2014
Weekly Issue

Milestone Year

First Tennessee turns 150, looks to future

The day after First Tennessee Bank celebrated its 150th birthday a few weeks ago by shooting fireworks over its Downtown Memphis headquarters, with executives and bank stakeholders mingling on a nearby hotel rooftop, the bank’s chairman, president and CEO looked back with pride at his bank’s long history.

Editorial: First Tennessee Bank’s Business Model Endures

As First Tennessee Bank marks its 150th anniversary, we are reminded of the changes over that span in technology and what our financial institutions have come to offer in the way of services.

THE MEMPHIS NEWS ALMANAC

This week in Memphis history: April 11-17

2005: Work was stopped on construction of the DeSoto West Middle School and Desoto Elementary Schools following the discovery of archaeological remains, including human remains that could have been a burial ground. Archaeologists from the University of Memphis dated some of the material to 500 years before Spanish explorer Hernando DeSoto came into the area in the 16th century. Construction on the schools resumed later.

Continental Eyeing Memphis for Tire Facility

The tire division of Continental AG, one of the world’s largest automotive industry suppliers, is eyeing a location on Winchester Road in Memphis for a retreading, service and sales center.

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Cates, Kornegay Take Majority Stake in Colliers’ Memphis Office

Two longtime members of Colliers International's Memphis office have taken a majority stake in the real estate company.

SPORTS

Grizzlies Ice Heat in ‘Huge’ Win

A day earlier, the Grizzlies had talked a like a team that had misplaced its identity. The coach spoke of the team losing its “swagger.” The players spoke of still having everything in front of them – “we control own destiny” was mentioned more than once – and yet the prevailing feeling was one of doubt.

Tony Back to Being Tony in Key Win

Someday a professor of sports science will write a book on the Grizzlies’ Tony Allen or the good professor’s head will explode in the trying.

Charlotte’s World

NFL’s ‘most influential woman’ speaks in Memphis

The first sentence of a recent national news story described Charlotte Jones Anderson as the “most influential woman in the NFL.”

Schools Leaders Outline Budget Goals

The Shelby County Commission and Shelby County Schools leaders eased into what is likely to be the most difficult discussion of county government’s budget season – funding the county’s school district in the first academic year of the demerger.

Loeb Midtown Center Now Fully Leased

Loeb Properties’ Belvedere Collection on Union Avenue in Midtown is 100 percent leased.

Fundraising Help for Orchestra Continues

The Kickstarter campaign to raise at least $25,000 for the financially struggling Memphis Symphony Orchestra has beaten its goal, pulling in a little more than $28,500.

Startup Conference Prepares to Return to Memphis

Final preparations are underway for the startup-focused Everywhere Else conference, which is returning to Memphis at the end of the month after its launch here last year and will bring entrepreneurs, investors and creatives from around the country to the Bluff City.

New Perspective

Foundation shines light on Lt. George W. Lee’s life

When the U.S. Postal Service closed its branch office at 826 Mississippi Blvd. near E.H. Crump Boulevard in 2012, workers carted off an oil painting that hung there for several decades with little thought about the man portrayed in the painting.

Sweetie Pie’s Signs at Fourth and Beale

The Beale Street entertainment district has a new tenant on its eastern border with Fourth Street in a space that has been closed for 12 years.

Collierville Explores New School Options

The Collierville Schools system is about to start the process of finding a site for a new high school and determining how much it would cost.

Women’s Foundation Honors Five Legends

The list of Legends Awards honorees keeps growing. Since 2009, the Women’s Foundation of Greater Memphis will have honored 32 women with the addition of this year’s five Legends Award honorees. This year’s honorees range in age from 86 to 97 but, if anything, their vast years of experience have served as an inspiration to younger women.

City Blight Effort Faulted in Audit

Memphis Mayor A C Wharton Jr. came up with the anti-blight initiative 25 Square specifically to attack overgrown lots in a systematic and targeted approach.

Craft Follows 36-Year Path to Bench

The path of Criminal Court Judge Chris Craft to the bench has been the result of seeing possibilities in other positions.

Fourth Annual MED Night Raises Hospital Awareness

“Celebrate good times, come on!” The song by Kool & the Gang – this year’s MED Night: A Soul Celebration headliner – pretty much encapsulates not only the night, but the overall feeling about Regional One Health’s vision and new direction.

New Digital Pet Magazine Launches

The number of new digital media outlets launching in Memphis keeps getting bigger. The newest addition is Bluff City Bark, a venture billing itself as Memphis’ first digital pet magazine. The first issue was published a few days ago, and the cover features Jeff Fioranelli, owner of Buckley’s restaurant, photographed with his two dogs, Teddy and Sam.

Museum Reopening Raises Issues About Present

There was a moment in the April 5 two-hour reopening ceremony for the renovated National Civil Rights Museum that demonstrated the tension that still exists when it comes to the important issue of who is telling the story of history.

Open House

James Lee House prepares for April 17 grand opening

The historic James Lee house in Victorian Village is days away from a grand opening celebration, the culmination of a restoration several years in the making that has turned the property once home to the Memphis College of Art into a bed-and-breakfast inn.

Conference to Present Power of Networks

The Mid-South nonprofit community is doing better than it was during the throes of the recession. And there is a report on the 2013 fiscal year as proof that things are better than they once were.

Former Memphian Finds Online Success With StyleBlueprint

Former Memphian Elizabeth Fox and Liza Graves launched the online lifestyle publication StyleBlueprint.com in January 2009 with the goal of connecting women with their community.

Lebanon’s Pody Works for Amendment Passage

Helping people with insurance requires the ability to plan for multiple scenarios.

Pahlow Wins Broker of the Year

After enduring early struggles in his commercial real estate career, Scott Pahlow has reached the top of his industry.

Experts Highlight Health Care Game-Changers

Both before the Affordable Care Act became law and after, consumers viewed health care costs differently than they do other costs.

Steiner Resigns as CEO of GTx

Dr. Mitchell Steiner has resigned effective Thursday from being CEO and vice chairman of GTx, the Memphis-based company he co-founded.

Diversified Trust Makes Promotions in Memphis

Memphis-based Diversified Trust, a comprehensive wealth management firm with more than $5 billion in assets, has promoted seven professionals in its Memphis office.

MEMPHIS NEWSMAKERS

Stephens Joins Maintenance Team at Commercial Advisors

Timothy Stephens has joined Cushman & Wakefield/Commercial Advisors as a maintenance mechanic at One Commerce Square. In his new role, Stephens will performing plumbing, painting and general maintenance services.

REAL ESTATE RECAP

Hillview Village Apartments Sell for $5.9 Million

2051 E. Alcy Road, Memphis, TN 38114, Sale Amount: $5.9 million -

SMALL BUSINESS

PT Squared’s Krista Robinson Now an Everyday Cheerleader

She was a junior in college, captain of the University of Memphis cheerleading squad, and she had her life choreographed: finish school, become a physical therapist, work with the rich and famous.

LOCAL COLUMNISTS

Feed the Imagination

SHOPPING FOR SOMETHING DIFFERENT. The courtyard you’re in was once stacked with wooden cases, the food trucks you see were once mule-drawn wagons waiting to load those cases, the locally-brewed beer you’re sipping the reincarnation of what filled them, the live music you hear covering the century-old echoes of the South’s once busiest brewery – the Tennessee Brewery.

The Grey Ceiling: Beating Ageism

The unfortunate truth of today’s job searching climate is that applying for jobs is competitive – very competitive. Employers can be picky about who they hire and how much they’re willing to pay. For many job seekers over 50, the search process is a longer, harder road than they remember from years past.

Diversify to Help Your Taxability

Ray’s Take: Planning for the tax portion of your retirement can have an important impact on the longevity and quality of retirement savings. Various investment and savings instruments are taxed in different ways, so building a pool with different levels can help you with your taxes.

Constantly Commenting Coach

On the day after a certain university’s basketball team hung in there and won a game, a sports-oriented radio station repeatedly aired an excerpt of an interview with the winning head coach. Here’s a snippet: “We got cold. Couldn’t make any shots. … But I thought our defense was a constant. It was the constant denominator.” The constant what?

Renewing Our Vows

Last week, U.S. indices ascended briefly back into record territory on supportive comments from global powerbrokers.

Cold Calling Gets Bad Rap

Cold calling gets a bad rap. Sales reps dread it, due to the anxiety and rejection that too often accompany it. In reality, the make-or-break moment in most cold calls is just the initial conversation starter – that first 10-20 seconds from your first word to the point at which the prospect gives you permission to continue talking. If you can make it past that all-important hurdle, it’s all downhill from there.

Business Cards as Prospecting Tool

Nonprofit CEOs, board chairs, and college presidents are constantly out and about meeting people and picking up business cards. Here’s what we know: You can use those cards to stack the deck in favor of your fundraising success.

Reversing Sprawl Through Connectivity

Editor’s Note: This column will appear Tuesdays through April in honor of Sustainability Month for Memphis and Shelby County.

All Dividend Stocks Not Created Equal

There are 422 dividend paying stocks in the S&P 500 Index, but not all are created equal.

Trendcasting and Innovation

Did you wake up this morning to realize that the world has changed and your business has not changed with it? If you are a regular reader of this column you know we discuss growth strategy and innovation and all of the challenges that accompany those pursuits. We see many companies of all sizes that are dying a slow death in a saturated market with outdated business models. They fail to get out ahead of what’s next.

Keep Hope Alive for Next Generation

Teilhard de Chardin, the controversial French philosopher and Jesuit priest, once said, “The future belongs to those who give the next generation reason for hope.”

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 81 301 17,656
MORTGAGES 101 347 22,998
FORECLOSURE NOTICES 10 48 4,477
BUILDING PERMITS 208 722 41,947
BANKRUPTCIES 61 237 16,629
BUSINESS LICENSES 11 61 5,762
UTILITY CONNECTIONS 60 256 25,125
MARRIAGE LICENSES 14 80 5,365

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