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VOL. TMN-7 | NO. 20 | Saturday, May 10, 2014
Weekly Issue
Securities & Investments

The Market Whisperer

Art Hogan says 2014 may be breakout year for economy

When economic analysis gets reduced to a binary choice between opposites like bullish or bearish, up or down, strong or weak, the complexity that helps explain the way things are gets lost in a thicket of sound byte-ready oversimplification.

Financial Federal Sees Progress, Prepares for New Digs

A business that handles client money and assets naturally occupies an ideal perch from which to survey the financial landscape and general economic conditions.

IronHorse Makes New Hire, Launches Mutual Fund

Memphis-based investment firm IronHorse Capital Management has hired a managing director for national sales, a new hire that comes at the same time as the firm has launched its first mutual fund product.

Bosse’s Commitment, Expertise Aid CPA Firm

Helping individuals and businesses manage and keep track of assets and investments is an important task for a CPA firm like Cannon Wright Blount, a Memphis-based company that’s always looking to break away from the pack and distinguish itself in terms of products and service offerings.

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EVENTS

Shelby Farms Park Conservancy will hold the Dog-A-Roo Festival Saturday, May 10, from 10 a.m. to 2 p.m. in the off-leash dog park at Shelby Farms Park. The event will include the Four-Legged 4K at noon, plus talent and costume contests, parade of rescues, live music and more. Festival admission is free; parking is $5. Registration for the Four-Legged 4K is $20. Visit shelbyfarmspark.org.

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Editorial: Only Endorsement Is for People to Vote

We have an endorsement to make in the August elections.

THE MEMPHIS NEWS ALMANAC

This week in Memphis history: May 9-15

1984: Jerome Ryans became director of the Memphis Housing Authority following the resignation of Lawrence Wade from the post. Ryans, who had been the Memphis City Council’s staff administrator prior to the appointment by the MHA board and backed by Memphis Mayor Dick Hackett, inherited what was considered a “troubled housing authority” by the federal department of Housing and Urban Development. Over several years, Ryans would reverse that, restore the confidence of the federal agency that supplied the bulk of funding to the MHA and begin to question the direction and role of public housing in Memphis.

Art With Heart

Creation Studios brings love of storytelling to work

A photography project done for Lipscomb & Pitts Insurance by Creation Studios owner Donny Granger illustrates his particular approach to creative work and to the way his photography studio and gallery operates.

Memphis Economic Indicator Presents Latest Snapshot

On the qualitative side of the latest Memphis Economic Indicator, a survey measuring general business sentiment produced jointly by The Daily News and Dixon Hughes Goodman LLP, respondents tended to put Memphis at a kind of inflection point at the moment.

Tile Shop Inks Lease for First Area Store

A specialty retailer of high-quality tile will open its first location in Memphis later this year.

City Council Weighs Police Dollars, Oversight

The Memphis City Council on Tuesday, May 6, got its first detailed look at the Memphis Police Department’s budget proposal, which was followed by the council starting the process of bringing back to life the Police Civilian Review Board. That would begin with a series of community meetings and recommendations from a citizens group in August.

Politics Continues After County Primaries

A lot of the candidates from the Shelby County primary ballot were in the same room the day after the Tuesday, May 6, election.

Trenary Named Greater Memphis Chamber President

A veteran of the local business and economic development scene will guide the Greater Memphis Chamber as it seeks to execute an ambitious economic and community growth plan.

Tower Facelift

I-bank Tower in midst of makeover

One of Memphis’ most recognizable office buildings, occupying a prime piece of commercial real estate on Poplar Avenue in East Memphis, is getting a makeover.

Mortgage Market Up 8 Percent in April

Sam Goff, a senior loan originator at Independent Bank, announced in a post to his Facebook followers last month that mortgage rates were at one point about as low as they’d been in 2014 so far.

County Primaries Reflect Different Political Fortunes

Former Shelby County Commissioner Deidre Malone will challenge incumbent Shelby County Mayor Mark Luttrell in the August county general election after winning the Tuesday, May 6, Democratic mayoral primary.

Council Mulls Pension Liability Numbers

The leaders of the city’s police and fire unions watched closely Tuesday, May 7, at City Hall as new numbers on the city’s pension liability from a new group of actuaries appeared to reset the ongoing discussion about city finances.

Shelby County Home Sales on the Rise

Shelby County experienced a modest increase in home sales in April compared to the same month last year, but sales rose sharply from March and prices continued their upward surge.

Entrepreneur Day Spotlights Power of Innovation

Already in recent weeks, Moziah “Mo” Bridges, the 12-year-old founder of the Memphis-based Mo’s Bows bow tie business, has appeared on the hit ABC show “Shark Tank.”

August’s ‘Big Ballot’ Awaits County’s Voters

With the unofficial results in the Shelby County primary elections in, get ready for the “big ballot.”

Tackling the ‘Taboo’

Courtney prepares to release ‘Against the Grain’

Bill Courtney is adamant – which, if you know him, is a redundancy – that he has not written a political book.

FedEx Consolidates Office Space

For months, commercial real estate brokers have been watching closely for any signs that might hint at what FedEx Corp. and its subsidiaries will do with the hundreds of thousands of square feet of commercial space the Memphis-based company leases across the area.

Start Co. Launches ‘Summer of Acceleration’

This summer, Downtown Memphis is entrepreneur central. For the first time, Memphis’ venture development organization Start Co. will be running all of its startup accelerators at the same time.

Rudd Charts Path at University of Memphis

The incoming president of the University of Memphis should name his provost or chief academic officer this week as he prepares to take office May 16.

Parkinson, White Compare Notes Across Aisle

Two state representatives from Memphis say the 19-member Shelby County delegation in the Tennessee General Assembly isn’t as united as it should be.

Brown’s Complex Contempt Case Moves Forward

Former Criminal Court Judge Joe Brown’s actions in Memphis-Shelby County Juvenile Court in March will live on in court past the May county primaries and into the campaign season as Brown prepares to challenge incumbent District Attorney General Amy Weirich in the August general election.

Raleigh Springs Mall Owners Question City’s Plans

The owners of the Raleigh Springs Mall had been talking with Memphis Mayor A C Wharton Jr.’s administration until late last year about the city’s desire to see a revitalized mall possibly with city government offices.

Thigh High Jeans Prepares to Launch Retail Truck

Painter Kerry Peeples and photographer Ann Smithwick are in the process of renovating a 1970s-era trailer that will allow them to take their Memphis-based blue jean company mobile, spreading fashionable, unique threads across the city.

SPORTS

Grizz Looking Forward to Next Season’s Grind

Tony Allen, still believing, had “packed for a three-day trip to L.A.” and another playoff confrontation with the Clippers.

NBA Fuels Fans’ Suspicion of Game Fixing

Just so there is no misunderstanding, let me answer this question first:

NEWSMAKERS

Owens Named MERI Executive Director

Jason K. Owens has been named executive director of the Medical Education & Research Institute. Owens previously served as education/research planning manager of the nonprofit medical teaching and training bioskills laboratory, and has led cross-functional initiatives specific to the MERI’s strategic education and research planning, mobile education development and operational management.

REAL ESTATE RECAP

Hedgemoor Square Sells for $3.6 Million

375 N. Graham St., Memphis, TN 38117, Sale Amount: $3.6 million -
An affiliate of St. Louis-based Gateway Commercial has paid $3.6 million for the 64-unit Hedgemoor Square Apartments at 375 N. Graham St. in East Memphis.

SMALL BUSINESS

Couple Find Business Love in Cordova Thrift Store

Keith and Carol Choukalas had fallen in love. Not with each other – that was old business, happened years ago – but with Murray, Ky., home of Murray State University.

LOCAL COLUMNISTS

The One-Hour Vacation

DON’T KILL AN HOUR, LIVE ONE. The other day, I showed up for a 10:30 meeting in South Main. As often happens when Siri helps you with your calendar, coupled with chronic CRS, the meeting was actually at 11:30.

Transitioning Between Corporate and Nonprofit

Career transitions are all the rage these days. Whether it’s moving between jobs more frequently or updating your skill set midstream, change is happening. One trend growing in popularity is employees who are making a move between the nonprofit and corporate worlds.

Merging Financial Identities

Ray’s take: Americans are getting married later. The 2013 figures from the Office for National Statistics show the average age at which men get married is 31 years, while women are typically aged 29 years when they tie the knot.

Itchy Digit

“You have trigger finger.” The words were uttered by my primary care physician. Matter-of-factly, I might add, to use a twice-hyphenated adverb. I was reminded of a crossword clue, something like “A gunslinger’s may be itchy.” Henceforth I’ll be reminded of “stenosing tenosynovitis” – a disorder marked by locking and/or snapping of a finger’s flexor tendon. And by pain!

Cataracts Can be Slowed, Treated With Proper Care

Cataracts are probably the most common reversible/treatable ocular disease and afflict millions of people in the U.S. and throughout the world.

The Opportunity in ‘No’

When your business is young, you naturally welcome every new customer with open arms in an effort to generate cash flow and get on your feet.

Black Men Find New Way to Give Back

Part one of a two-part series. Readers of our column know we are supporters and promoters of women’s philanthropy including women’s foundations and giving circles. Mel likes to joke, “what about men’s philanthropy?”

Running on Autopilot?

With the first quarter behind us, it is time to evaluate your business performance and start assessing the effectiveness of the tactics in your growth strategy. At the end of each quarter it is imperative to run a series of diagnostics to attain a deeper understanding of why the results are what they are, regardless of whether they are positive or negative.

Le Bonheur 101 Proof That Life Lessons Abound

Learning does not cease when you graduate, at any level. Learning is a lifelong journey.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 66 378 15,444
MORTGAGES 67 456 20,235
FORECLOSURE NOTICES 8 117 4,003
BUILDING PERMITS 175 1,046 36,888
BANKRUPTCIES 58 290 14,633
BUSINESS LICENSES 16 80 5,209
UTILITY CONNECTIONS 76 388 22,205
MARRIAGE LICENSES 28 111 4,774

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