VOL. TMN-8 | NO. 6 | Saturday, January 31, 2015
Memphis’ multigenerational businesses share plenty of struggles – and lessons learned along the way
A FedEx commercial that never made it past the storyboard stage portrayed company founder, chairman and CEO Fred Smith as a child filling out an order form in the back of a comic book for a batch of Sea-Monkeys, sending it off and waiting for the delivery.
Locally owned businesses that endure over generations are a way of building the wealth that can transform Memphis.
THE MEMPHIS NEWS ALMANAC
2014: Wright Medical Group Inc. closed on its deal to buy Solana Surgical LLC of Memphis and announced a definitive agreement to buy OrthoPro LLC of Salt Lake City. Solana was a $90 million deal and OrthoPro was a $36 million transaction.
Battle lines have been drawn for a Feb. 2 special session of the state Legislature to determine the fate of Gov. Bill Haslam’s Insure Tennessee proposal, which would use federal funds to catch some 200,000 working people falling through a health insurance coverage gap.
Memphis Mayor A C Wharton Jr. defended and touted Thursday, Jan. 29, his administration’s pursuit of the economic development projects that his challengers in the October city elections will likely use to make their case.
The Cheesecake Factory, a wildly popular restaurant chain, is eyeing the Wolfchase Galleria in Cordova for its first Memphis-area location, according to sources with knowledge of the plans.
The unemployment rates for Shelby County and the city of Memphis both fell by about a percentage point in December, according to new figures out today from the Tennessee Department of Labor and Workforce Development.
An effort to redevelop a Downtown skyscraper may have received a boost this week. A state board is recommending that the tower at 100 N. Main St. be listed on the National Register of Historic Places, a move that could allow the owner to seek tax credits and grants to redevelop the building.
No one from the administration of Memphis Mayor A C Wharton Jr. showed up Wednesday, Jan. 28, for a public forum on Wharton’s still-developing plan for the redevelopment of the Mid-South Fairgrounds.
Crye-Leike improves home showing process
In 2014 Crye-Leike Realtors totaled 183,000 scheduled appointments for house showings, a logistical feat considering all the moving parts involved.
With federal money about to run out for the Shelby County Schools Innovation Zone schools, the $8 million in cash due from the city of Memphis next month is most likely to land in the bank account for that effort.
Last year when Shelby County Schools leaders began planning to change attendance zones to reconfigure student assignments to take into account the demerger of public education in Shelby County, the plan for a new Woodstock High School drew cheers from parents in the northwest Shelby County area.
A better start for children means a better journey toward adulthood
It would be true if you were talking about stock in Apple Inc., Google Inc. or Netflix Inc. And it is true when talking about children.
When the board of the Economic Development Growth Engine approved a $9.5 million, 11-year tax abatement incentive last week for the new Ikea furniture store planned for Cordova, the decision set in motion the next wave in an already robust political discussion about such incentives.
Shelby County Commissioners approved Monday, Jan. 26, a new five-year lease between Center Point Terminal Co. LLC and the Memphis and Shelby County Port Commission for a dock, wharf and other facilities on Presidents Island in the barge business.
The Shelby Farms Park Conservancy has applied for two building permits totaling $7.2 million for the creation of a new visitors center and new restaurant and retreat center.
Rhodes professor researching how to improve virtual reality technology
With the advent of video game systems like the Kinect for Microsoft’s Xbox as well as the Oculus Rift head-mounted display system that Facebook bought last year, it’s clear virtual reality technology has increasingly become mainstream.
The first renderings of a recast Mid-South Fairgrounds offered years ago are just one misstep early on that continues to plague the project still in search of specific private partners.
Fueled by a steep drop in foreclosure sales, fewer homes were sold in Shelby County in 2014 when compared to 2013.
Shelby County recorded a jump in homes sales in the fourth quarter when compared to the same period in 2013.
Shelby County home sales jumped significantly in December when compared to December 2013.
The Shelby Farms Park Conservancy hopes to close out its $70 million capital fundraising campaign by Sunday, Feb. 1, for the “Heart of the Park” improvements already underway.
The statement seems self-evident. Whether you just fill out an NCAA Tournament bracket in the office pool every year, make a bet on the Super Bowl, or buy the occasional scratch-off lottery ticket.
Playing without starting point guard Mike Conley (left wrist sprain) and swingman Tony Allen (left ankle sprain), the Grizzlies pounded the Mavericks 109-90 Tuesday night, Jan. 27, in Dallas and perhaps delivered a message to the rest of the Western Conference:
Center Marc Gasol has broken through the glass ceiling that forever has hung above Memphis and the Grizzlies.
The University of Memphis men’s basketball team needed a shot from sophomore forward Austin Nichols in the game’s final seconds to escape with a 57-55 victory at Tulane last Saturday.
KNOXVILLE – Galen Campbell might get to play a minute here or there as the University of Tennessee men’s basketball team pursues its surprising run toward bubble status for the NCAA tournament.
Randy Odom has been named president and chief executive officer of Memphis Athletic Ministries. Odom joined MAM in 2006 as a neighborhood center director and became chief operating officer in 2012. In his new role, he oversees all operations and programming for 10 neighborhood youth centers that serve more than 900 underserved youth after school each day.
REAL ESTATE RECAP
5461 Davidson Road, Memphis, TN 38118, Permit Amount: $42 million -
A third-party vendor has applied for a $42 million building permit to build out Target’s planned Memphis online fulfillment center.
Susan Ritter had been a Marine and a competitive athlete. Mike Farah had been a successful corporate executive who almost worked himself into an early grave, lost 50 pounds, retired, and began competing in body building competitions.
DRAWING A CROWD. The line started at one end of the big room and wound its way out into the hall.
Have you ever experienced a problem at your job where you were truly in the right? A co-worker or boss did something to you that was either against the law or just ethically wrong. Maybe your boss has a temper, or perhaps you’re being discriminated against in some way.
Ray’s Take: Recently, new regulations went into effect that affect your IRAs and rollovers. Prior to 2015, the rule in effect allowed you to do a rollover each year, in which you received a check made out to you, rather than to another IRA custodian, on each IRA you own.
I’m fortunate to count Lee Martin, assistant director of Vanderbilt University’s English Language Center, as a weekly reader. Most recently, he writes about my having written, in a recent column, “No different than watching reruns on regular TV, right?
Regardless of what happens on the field, history will be made at this year’s Super Bowl of advertising – starting with a record price tag of $4.5 million for a 30-second spot, a significant spike from the $4 million advertisers forked over last year.
The stock market overreached in 2013, expecting big things from 2014. Earnings estimates for 2014 were for growth of 10 percent-plU.S. . High expectations boosted valuations above long-term averages.
Part two of a two-part series. Software is at the heart of so many nonprofit functions. You can’t afford down time. And you don’t want to find out your new system won’t talk to an existing one after it is up and running. What’s a nonprofit leader to do? In search of guidance we talked with Janna Finch of Software Advice, an online firm that reviews nonprofit technology.
New Year’s resolutions, often tied to productivity, can involve getting healthier, better organized, more financially savvy, and rid of old habits.
With just one child, my wife and I don’t find ourselves stressing out about the need for a large hotel room suite or adjoining rooms so our family has enough room to spread around.
Most innovations fail because they are too good, too smart and too unfamiliar to the existing business to risk launching.
$1.2 trillion owed creates problems for U.S. auto industry, home sales
Three-and-a-half years after graduating from the University of Tennessee-Knoxville, Yasameen Hoffman is still trying to land the kind of full-time job that will help her start paying off her student loan.
Hefty student loans are a major stumbling block for young Americans as they try to buy their first home, a National Association of Realtors’ annual survey shows.
U.S. Rep. Steve Cohen sponsored legislation in the Tennessee Senate that led to creation of the HOPE Scholarship, which provides four-year college students with $4,000 a year for their studies.
Don’t just look; touch. Come in. Sit down. Marvel at the off-seasonal flora and run your hands along the mossy bench. Please, do.
Dreams, cancer, tofu, death, love, loyalty and the quest for good gut bacteria are parts of the story of the hidden little gem that is the Sunflower Café.
My father was born (1928) and raised in Franklin, when it was a sleepy little standalone hamlet unrelated to Nashville. In the mid-90s, I met him for lunch at the Shoney’s near I-65 off of Highway 96.