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VOL. TMN-7 | NO. 23 | Saturday, May 31, 2014
Weekly Issue

Facing the Music

Memphis Symphony Orchestra seeks major lift from financial woes

Starting over is one of those tasks that requires a fresh set of eyes if it’s to be pulled off successfully.

Editorial: Bravo to Symphony for Changing Course

The Memphis Symphony Orchestra has completed its season with money in the bank and ideas about how different the next season must be on several fronts.

EMPHASIS Public Companies

New Path

TruGreen charts different course as ServiceMaster spinoff

A lot has changed for Memphis-based TruGreen lawn care in the last six months.

Change on Tap for Many Local Public Companies

Here’s a snapshot of recent news and developments at some of the publicly traded companies based in Memphis, reflecting the influence these companies have and the shadows they cast both in Memphis and beyond, in industries that range from bioscience to banking.

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FedEx, International Paper Join Buyback Trend

Recent stock repurchases by major U.S. corporations since the recession are a financial fact of life and the city’s best known publicly-held companies are no exception to the practice that can have multiple motives as well as multiple effects.

THE MEMPHIS NEWS ALMANAC

This week in Memphis history: May 30-June 5

2012: The transition planning commission plotting recommendations for the coming schools merger put together a list of $54 million in cuts that could be made to balance the budget of the new school system. But those in the 21-member advisory group emphasized the list was not a recommendation but instead “a reluctant contingency plan.” The recommendations would have gone one student above the Memphis City Schools pupil teacher ratio per classroom.

School Board Unveils Digital Devices

Shelby County Schools board members got a look this week at the new digital devices students in 16 schools will get when the new academic year begins in August.

Jackson Showcases Skills for Grizzlies

For a day, Joe Jackson again was wearing a blue Memphis jersey – a No. 3 Grizzlies practice jersey.

Shinseki Resignation Not Enough, Says Alexander

Word of the resignation of Veterans Affairs Secretary Eric Shinseki Friday, May 30, came as U.S. Sen. Lamar Alexander of Tennessee campaigned with New Jersey Gov. Chris Christie in Germantown.

FedEx Seeks Office Space as Needs Shift

FedEx Corp. is currently looking for 25,000 square feet of office space in the Memphis market, according to several real estate brokers.

Plough Foundation Makes Challenge Grant on Rape Kit Backlog

The Plough Foundation has made a $750,000 challenge grant toward the estimated $6 million in funding the city of Memphis says it needs to clear the city backlog of more than 12,000 untested rape kits.

Tennessee Ranks 43rd for Senior Health

Statistically, you will be a far healthier senior citizen living in Minnesota than in Tennessee. That’s according to America’s Health Rankings 2014 Senior Report.

Towering Progress

Construction of IP’s new East Memphis building reaches next stage

The shell of the newest addition to the East Memphis office skyline is complete, setting the stage for exterior work on International Paper’s new building to begin.

Candidates Pull Petitions in Suburban Mayoral Races

Bartlett Mayor Keith McDonald and Germantown Alderman Mike Palazzolo are on the cusp of entering the mayoral races in their respective communities.

Michael Meets Resistance in Juvenile Court Campaign

Dan Michael has worked for the last two Juvenile Court judges and hopes to succeed the latest, Curtis Person Jr., with the August election results.

AutoZone Quarterly Profit Rises 7.4 Percent

Memphis-based AutoZone Inc. has enjoyed double-digit earnings per share growth every quarter since the latter part of the administration of President George W. Bush – 31 straight quarters, to be precise.

Breathing Easier

UTHSC screening and treatment programs target lung cancer

Early screenings reduce lung cancer’s mortality rate. Dr. Benny Weksler is sure of that much.

MATA President Calls for Expanded Service

The interim leader of the Memphis Area Transit Authority wants the city’s bus line to get more involved in “transportation management associations.”

FedEx Wants to Explore ‘Final Frontier’

FedEx announced one of its newest – and more unusual sounding ventures – with a cheeky tweet.

Healthy Memphis Common Table Unveils New Name

Healthy Memphis Common Table’s fourth annual meeting and recognition luncheon included the launch of a new name and logo and the honoring of the inaugural Health Impact Award recipients.

I Choose Memphis: Jon Alfuth

“I Choose Memphis” spotlights Memphians who are passionate about calling this community home. New Memphis Institute provides the profiles.

SPORTS

Cannon Works for Golf Tournament's Success

The putter and a few white golf balls sit next to a wall in Phil Cannon’s office at TPC Southwind. It seems logical, the long-time director of the FedEx St. Jude Classic having golf equipment within easy reach.

Lots of Questions Remain Unanswered in Grizz Nation

We’re now going on two weeks since this whole WHAT’S GOING ON WITH THE GRIZZLIES? saga started.

NEWSMAKERS

Dykes Joins Family Safety Center as Controller

Janet Dykes has joined the Family Safety Center, Memphis and Shelby County’s center for victims of domestic violence, as controller. In her new role, she is responsible for all finance, accounting and human resources functions, in addition to providing leadership and coordination in the organization’s administrative, business planning, accounting and budgeting efforts.

REAL ESTATE RECAP

Shelby Farms Files $25 Million Permit for Lake Expansion

500 Pine Lake, Memphis, TN 38134, Permit Cost: $25 million -
The Shelby Farms Park Conservancy has filed a $25 million permit with the city-county Office of Construction Code Enforcement to expand Patriot Lake.

SMALL BUSINESS

Withers Collection Expands With Dorothy Mae’s Cafe

With signs of new life on the block of the Beale Street entertainment district between Hernando and Fourth streets, Rosalind Withers feels like she is ready to go in some new directions with the Withers Collection, the home of the collected works of her late father, photographer Ernest Withers.

LOCAL COLUMNISTS

Get Real

NASHVILLE, THE CAPITAL OF Q. WHO KNEW? Last week – in a move I equate with Russian forces massing along our eastern border – Travel + Leisure ranked Nashville as America’s #1 city for barbecue.

Dressing for Career Success

You’ve been applying online for months, and finally something has clicked. You have an interview in a few days for the perfect job at the best company in town.

Discussing Family Finances with the Kids

Ray’s take: The March 2013 T. Rowe Price Annual Parents, Kids and Money Survey indicates that 73 percent of parents discuss money with their kids. This is good news! It’s an important part of a kid’s education to understand money and finances. Kids may not have to worry about mortgage payments just yet, but learning about money while they’re young can set them up to become financially responsible adults.

New Rosenfelt Novel Delivers

David Rosenfelt has done it again! Kept me in my chair for two whole hours, that is. Once I got to page 100 of “Without Warning,” I had to just go ahead and finish it. You know, to see how it would end.

How Low Can We Go?

With the S&P 500 back at all-time highs, investors may be experiencing a bit of altitude sickness. With the S&P 500 now up 180 percent from the bottom, it’s right to question how much upside remains. However, the better question might be how much downside lies below.

Know Your Options for Financing Major Home Upgrades

American Housing Month, recognized each June, is an opportunity for individuals to better understand the process of buying a home and the benefits that come along with home ownership.

Save Your Sales Team From Extinction

Second in a two-part series. The Information Age has created a marketplace built predominantly of connected buyers who have largely determined whether or not to buy from us before they ever make contact with a sales rep. Due to readily available info about your company and competitors, sales support is unnecessary early in the buying process, forever changing the role of the sales rep.

Have Courage to Leap

As Innovation and Growth Strategy consultants, we have methods, processes and exercises that we apply to client problems.

Finding Your Ideal Partner

How do you become a successful nonprofit fundraiser? What is the secret to success? An engaging personality, relationships, tenacity, creativity, sales ability and consistent follow through are some of the attributes of successful fundraisers.

Take Proper Steps Before Investing

So you want to buy or sell an investment property?

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 38 349 15,066
MORTGAGES 111 449 19,779
FORECLOSURE NOTICES 33 91 3,886
BUILDING PERMITS 0 512 35,842
BANKRUPTCIES 62 309 14,343
BUSINESS LICENSES 18 138 5,129
UTILITY CONNECTIONS 69 385 21,817
MARRIAGE LICENSES 13 106 4,663

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