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VOL. 131 | NO. 174 | Wednesday, August 31, 2016

Fred's Names New CEO, Reports Disappointing Q2 Results

Memphis-based discount retailer Fred’s Inc. has named Mike Bloom its new chief executive officer.

School Board Approves Higher Bill For Life Insurance Coverage

Shelby County Schools board members approved an $8.4 million three-year agreement with MetLife Insurance to continue life insurance coverage of school system retirees Tuesday, Aug. 30, including a $7.2 million increase in the cost of the same coverage.

Tennessee Exchange Insurance Rates Soar Higher

People with health care insurance through the Tennessee Health Insurance Marketplace can expect significant rate hikes starting next year. The Tennessee Department of Insurance recently approved and released final rates for Individual ACA health policies for the calendar year 2017, and the increases were higher than anticipated.

Rocking 901

Civic pride initiative encourages Memphians to decorate, hide rocks

Later this week, a grassroots civic pride initiative focused on Memphis will manifest itself in the form of something resembling a makeshift Easter egg hunt. Only instead of eggs, this one involves rocks hidden around the city, and instead of pretty Easter designs they’ll generally be decorated with the pro-Memphis message “901 Rocks.”

Last Word: Big 12 Speculation, Changes at Fred's and Painting Rocks

Just in time for the first weekend of college football, speculation about a list of finalists for the Big 12 athletic conference realignment and the University of Memphis is reportedly on the list of contenders for a much talked about and highly sought after conference switch.

Local Weather
Currently
Memphis, TN
84.0°F
Fair
Wind: Northeast at 6.9 mph
Humidity: 65%

EVENTS

Tennessee Small Business Development Center will present the Sales & Use Tax workshop Thursday, Sept. 1, from 8:30 a.m. to 12:30 p.m. at the Renaissance Business Center, 555 Beale St. Cost is free; registration required. Visit tsbdc.org/training for details.

more events »

Handling The Isolation That Small Business Owners Face

When Robbie Johnson Weinberg and her optometrist husband Michael Weinberg decided to open up Eclectic Eye in Midtown in 2002, a lot of people told them it couldn’t work. Included this group: Weinberg’s colleagues.

Redbirds’ Patrick Wisdom Savors Every At-Bat

Memphis Redbirds third baseman Patrick Wisdom had lived by the old premise that you might as well swing hard in case you hit the ball. Or at least he did until fracturing a bone in his hand earlier this season. Wisdom missed several weeks and when he returned to action, the bone just mended, he naturally didn’t swing the bat with the same ferocious force.

Obscure Midtown Warehouse to Become Company’s HQ

The warehouse looks like a foreign object that sprouted in the middle of a Midtown neighborhood. Surrounding the two-story warehouse at 802 Rozelle St. are two-story, single-family homes with fenced yards. The adjacent CSX and Union Pacific railyard is the only indicator that this enclave was once an industrial area. After a nearly $1.2 million renovation, the dated warehouse will emerge as a highly modern neighborhood asset.

Luttrell May Veto Ordinance on County Attorney

Shelby County Commissioners have approved a ballot question for the Nov. 8 elections that would give them the final say if the county mayor moves to fire the county attorney.

MEMPHIS NEWSMAKERS

Courtney Joins Vet Staff At Downtown Animal Hospital

Veterinarian Dr. Jackie Courtney has joined Downtown Animal Hospital, where she specializes in critical pet care, internal medicine and exotic animal medicine. 

LOCAL COLUMNISTS

The Importance of Honesty

Recent events have brought this very basic idea back to the surface. Honesty should be a critical part of each of our professional and personal brands. Building and maintaining trusting relationships is such an important piece of a successful career.

How Top Sales Teams Maximize Trade Shows

Editor’s Note: This is the first in a two-part series. Your marketing team can go all out before a trade show. They can create a compelling booth design, write informative collateral and come up with exciting giveaways to grab attention.

STATEWIDE

Volkswagen Plans Expansion of Test Track at Tennessee Plant

CHATTANOOGA, Tenn. (AP) – Volkswagen is planning to expand the test track at its Chattanooga plant so it can better evaluate the new SUV that is scheduled to be built at the facility later this year.

REGIONAL NEWS

Ashley Furniture Bringing New Jobs to Mississippi

TUPELO, Miss. (AP) – Ashley Furniture Industries is laying off 840 workers at its manufacturing plant in Colton, California, and shifting production to other plants including three in Mississippi.

2 More Universities Furl Confederate-Themed Mississippi Flag

JACKSON, Miss. (AP) – Two more Mississippi universities have stopped flying the state's flag, which prominently features the Confederate battle emblem.

NATIONAL BUSINESS

Abercrombie Closing Up to 60 Stores After Posting Wider Loss

NEW YORK (AP)Abercrombie & Fitch Co. reported a wider loss for its second quarter on Tuesday and said it's closing up to 60 stores in the United States as both U.S. and international sales fell.

Chipotle's Latest Freebie: Kids Eat Free on Sundays

NEW YORK (AP) – Chipotle's latest burrito giveaway is for children.

FINANCIAL

US Banks’ Q2 Earnings Climbed 1.4 Percent to $43.6B

WASHINGTON (AP) – U.S. banks' earnings in the April-June period rose 1.4 percent from a year earlier as growth in lending fueled interest income.

Fred's Names New CEO, Reports Disappointing Q2 Results

Memphis-based discount retailer Fred’s Inc. has named Mike Bloom its new chief executive officer.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 61 128 13,417
MORTGAGES 87 166 16,872
FORECLOSURE NOTICES 0 0 2,278
BUILDING PERMITS 135 240 28,969
BANKRUPTCIES 54 124 10,071
BUSINESS LICENSES 37 56 4,413
UTILITY CONNECTIONS 83 203 16,524
MARRIAGE LICENSES 22 59 3,532

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