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VOL. TMN-8 | NO. 47 | Saturday, November 14, 2015
Weekly Issue

Hoops & Dreams

Fans wait for Tigers basketball program’s return to prominence

They were but a few words, yet they seemed to capture the mindset of the University of Memphis basketball program’s high-expectation fan base.

Ikea PILOT Compromise Surfaces

Ikea executives are proposing a compromise to the standoff over the tax appraisal value of the Cordova land where they plan to build a 270,000-square-foot store.

MLGW Takes 22 Percent Water Rate Hike To Council

Memphis Light, Gas and Water Division is proposing a 22 percent hike in water rates effective with the new year.

Stewart TBI Report Case Hinges on Motion to Intervene

The parents of Darrius Stewart have dropped their legal bid to intervene in the Chancery Court lawsuit over the release of the Tennessee Bureau of Investigation report into his death this past July in a police shooting.

Trolleys Will Stage a South Main Comeback

Memphis trolleys are on track to return to South Main. U.S. Rep. Steve Cohen announced Thursday, Nov. 12, that the Memphis Area Transit Authority had received a $2.6 million federal grant to purchase three new electric rail trolleys.

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EVENTS

Chick-fil-A will host its fourth annual Daddy-Daughter Date Night on Thursday, Nov. 19, at 5 p.m. at the Memphis Zoo, 2000 Prentiss Place. The evening will include dinner, ice skating, a Zoo Lights sneak peek and more. Chick-fil-A will donate $5,000 from ticket sales to Make-A-Wish Mid-South. Buy tickets at chickfilamemphis.com.

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Willis Leaving Beale Authority, Lease Transfer Vote Moves to December

Developer Archie Willis is leaving as chairman of the Beale Street Tourism Development Authority.

Ricky Tarrant Jr. Brings Speed, Athleticism to Memphis Backcourt

A college basketball team led by an inexperienced point guard can expect problems. So, too, a team led by a point guard who might be a step slow.

EMPHASIS Financial Services

Branching Out

Despite digital growth, bankers say there's still a place for brick-and-mortar branches

The building going up at 2504 Poplar Ave., where a construction crew has been making steady progress since Iberiabank filed a $750,000 building permit for it back in April, represents something a bit unusual.

Roundup: Memphis Financial Firms Stay Busy

Here’s a look at some of what’s kept Memphis’ financial community busy in recent weeks, from deals to new products and services to personnel changes.

Cole Carves Community Role At Duncan Williams Asset Management

The idea of “to whom much was given, much is required” comes from scripture.

EDITORIAL

Editorial: Memphis’ Next Top Cop Needs Long-Term Vision

In the nearly six years that he has been the youngest Memphis Police director to come from the ranks of the MPD, Toney Armstrong has grown in a tough job.

THE MEMPHIS NEWS ALMANAC

November 13-19: This week in Memphis history

2010: Memphis City Schools board members begin talking over what Republican majorities in both chambers of the Tennessee Legislature will mean for local public education.

Collierville Opens Hinton Park

There was music in the air as Collierville Mayor Stan Joyner formally opened the town’s 110-acre Hinton Park on Wednesday, Nov. 11. Chimes and a xylophone with a few drum beats, to be exact.

RVC's Cates Speaks Out on Mud Island Plan

Keep the Riverwalk and amphitheater. Maybe extend Greenbelt Park into Mud Island River Park with camping on the southern end of the island. Bring in food trucks instead of restaurants.

LUCB Rejects Belz Application, Puts Midtown Mixed-Use Project in Jeopardy

Balancing competing businesses, city engineering code and neighborhood input came to a head at a Thursday, Nov. 12, Office of Planning and Development meeting when the Land Use Control Board decided to reject a traffic-blocking gate across the south side of Idlewild Street in Midtown Memphis.

LEDIC to Open New Headquarters in East Memphis

LEDIC, a Memphis-based manager, owner and developer of multifamily properties around the country, is building a new $10.2 million state-of-the-art headquarters facility in Memphis.

American Airlines to Launch Memphis-Phoenix Flights

American Airlines is launching a daily nonstop route between Memphis International Airport and Phoenix Sky Harbor International Airport (PHX), airport leaders announced Thursday, Nov. 11.

Business-Nonprofit Partnerships Crucial to Transforming Communities

Whether in Memphis, Nashville or metro Denver, there are success stories. Businesses and nonprofits coming together not just to create jobs, but to forge life-changing opportunities that turn out to be positive for everyone involved.

Couple Uses Mountain Climb to Fundraise for St. Jude

Dennis and Mary Pat James got back stateside a little less than two months ago from a trip to Tanzania, where they accomplished a feat they regard as they most challenging thing they’ve ever attempted in their lives: scaling Mt. Kilimanjaro.

NCRM President Says New Movement Comes With Sacrifice, Hardship

The president of the National Civil Rights Museum on Wednesday, Nov. 11, told a group of LeMoyne-Owen College students and faculty that there is a new civil rights movement.

DMC’s Morris Touts ‘Radically Different’ South Main

One of Paul Morris’ first speeches as president of what was then the Center City Commission was to the South Main Association.

Junior Achievement Hosts Entrepreneurship Week

In Memphis and across the country, business owners are headed to high school classrooms to tell their personal stories – what inspired them and how they chartered their own course.

Arcade Restaurant, a Memphis Fixture Since 1919, Still Thriving

Situated at the corner of South Main Street and G.E. Patterson Avenue, at the intersection of tradition and quintessential Memphis culture, a diner that beckons guests with a retro sign over the door and similarly old-fashioned decor inside has found a way to endure.

New Tech901 Expands City’s Tech Field

A new nonprofit has launched in Memphis to help guide technology job growth, while showing outside companies advantages of doing business in the Bluff City.

Medical Center Event Highlights New Vision

Micro changes are making way for a new identity for the Memphis Medical District.

Haslam Uses Lamar Backdrop To Make Road Funding Case

Tennessee Gov. Bill Haslam still thinks it’s too early to talk about how to pay for a $6.1 billion list of 181 state road projects in 62 counties across the state.

Rarely Deployed Weapon: Tigers Punter Spencer Smith Good When He Gets a Chance

The Tigers’ high-powered offense, driven by quarterback Paxton Lynch, is well-documented. Their 44.8 scoring average ranks sixth nationally.

Shelby County Mortgage Market Up 10 Percent in October

Shelby County’s mortgage market is now mid-way through the final quarter of the year, but, judging from the market’s performance in October, the typical year-end slowdown hasn’t materialized yet.

NexAir’s Sam Noland Brings Female Touch to Heavy Industry

NexAir’s Sam Noland isn’t a typical welder, not exactly lining up with the male-dominated industry stereotype. Noland is a woman but she’s an industry leader, working in nexAir’s department of technical specialists where she deals with automating, robotics welding and training. She runs the company’s weld lab in Memphis.

Shelby County Home Sales Edge Down in October

Memphis and Shelby County home sales decreased 9 percent this October compared to the same month last year, but the decline could be related more to a lack of inventory than a lack of interest.

LeMoyne-Owen’s Miller To Chart New Course

The new president of LeMoyne-Owen College says the historically black college is going to change under her leadership – in its philosophy, goals and size.

St. Jude to Invest $9B in Hospital, Fundraising Arm in Major Expansion

St. Jude Children’s Research Hospital and its affiliated fundraising arm ALSAC are on the precipice of a major expansion in Memphis that represents almost $9 billion in investment between the two entities.

Crosstown Developer: Complicated Projects Can Be Transformative

The Memphis-area commercial real estate market continues to trend upward, industry leaders say. All asset classes are trending toward pre-Recession levels, and Memphis is taking on more complicated projects like the Crosstown Concourse redevelopment.

Enoble Business Capital Commits to Expand Funding to Memphis Businesses

As the conference room was filling up last week inside the newly opened East Memphis headquarters of Enoble Business Capital, which the company spent $10 million to renovate, the lights eventually dimmed.

Memphis Democratic Committee Calls For City Primaries

There weren’t any party designations on the Oct. 8 Memphis election ballot, yet some local Democratic party leaders say their party lost in the set of 15 races.

Zambezi Hippo Exhibit Caps Generation of Zoo Plans, Launches Another

Sandblasting, painting rondavels and plotting a FedEx flight out of Durban, South Africa, for a quartet of 850-pound crocodiles is the order of the day at the Memphis Zoo.

SPORTS

Grizz Learning There’s No Extra Credit Just for Trying

When they weren’t playing hard, that was the most distressing part.

Warriors, Curry Too Much For Grizzlies – And Everyone Else So Far

Stephen Curry had seen this game before, in this building, in the playoffs and in the regular season. The Memphis Grizzlies were trying to do what they always try to do – drag a high-powered offensive machine such as the Golden State Warriors into the mud and not let them get up.

Reports: Grizz Trade for Miami's Chalmers, Ennis

As first reported by Yahoo Sports, the Memphis Grizzlies have made a move to upgrade their bench by trading backup point guard Beno Udrih and second-year forward Jarnell Stokes to the Miami Heat for point guard Mario Chalmers and forward James Ennis.

North Texas Could Never Upset the Vols, Right?

No way Tennessee’s football team can lose Saturday’s homecoming game against North Texas, one of the worst teams in college football.

Whisenhunt’s Failed Tenure Now Easier to Understand

It was only one game, one win, but it was clear in the aftermath Sunday just how much the Tennessee Titans needed the victory they got in overtime against the New Orleans Saints.

NEWSMAKERS

Stacks Named CEO of Signature HealthCARE

Michael Stacks has joined Signature HealthCARE at St. Francis as its CEO, where he’s responsible for day-to-day operations. Stacks, a U.S. Army veteran, most recently served as executive director of Allenbrooke Nursing & Rehabilitation Center in Memphis and Scenic Nursing & Rehabilitation Center in Herculaneum, Mo.

REAL ESTATE RECAP

Minglewood Hall, 1884 Lounge Sell for $2.7 Million

1553 Madison Ave., Memphis, TN 38104 -
The plaza that houses the popular Minglewood Hall, as well as six other businesses including 1884 Lounge and Inked, has sold.

SMALL BUSINESS

Office@Uptown Serves Neighborhood

When Valerie Peavy bought the building at 594 N. Second St. in 2011, it was a furniture store that had been a community fixture in Uptown for years.

LOCAL COLUMNISTS

Time for Tuition Equality in Tennessee

Tennessee has a unique opportunity to help the state economy and support education. Passage of the “Tuition Equality” bill in the upcoming state legislative session will provide a critical chance to educate thousands of Tennessee youth and narrow the skills gap that exists for Tennessee employers.

Billions And Billions Of Grins

GOOD NEWS IS GROWING. Really. I only have 500 words here and what my friend Andy Cates had to say last week is worth far more, several billion dollars worth actually, and what St. Jude had to say at the end of the week adds billions more.

Give Your Retirement A Raise

Ray’s Take People used to not worry very much about their retirement. They tended to work for the same company all their lives, and at 65 they got a watch and a pension.

Overlooking the Obvious: Why Innovation Fails

This column was based on a presentation by Scott Jenkins, SVP of Innovation and Product Development of Deckers.

May I Take Your Bag?

This just in from crossword land: I’ve deleted OLD BAG from my word list. Along with COOT, CODGER, and GEEZER. Still thinking about CURMUDGEON. Confused? Okay, here’s the story.

Tennessee’s Landlords Find Hidden Costs of Privatization

Murfreesboro businessman Tom Hyde felt the sting of Tennessee’s privatization practices two years ago when a representative of Jones Lang Lasalle notified him he would have to pay the company a commission as part of his next lease agreement.

Is Anybody There?

In today’s modern world of communication, it should be easier than ever to get in touch with colleagues. We have so many options including the old fashioned telephone, the cell phone, email, text messages and even social media.

Delivering Value To Educated Buyers

These days, most buyers engage in significant online research before they ever consider speaking with sales professionals. Today’s buyers are further along in the sales process, with a much clearer understanding of what they need, before your sales team ever says a word.

Below the Waterline

As of the end of October, the S&P 500 index had gained 2.59%. Unfortunately, for diversified investors, there is more to the story. The S&P 500 is a market capitalization weighted index, meaning the largest of the 500 companies have the largest influence over index performance.

Many Small Donors or a Few Large Donors?

As the year comes to a close, many nonprofits are looking at their fundraising goals and asking an important question: Should we focus on securing a large number of small gifts, or a few large ones? We believe the answer is “both.” Here are three things to consider.

Holiday Travel Projections Up

Americans might have more reasons to travel this holiday season as airfare trends continue to work in favor of the consumer.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 331 19,904
MORTGAGES 0 391 23,305
FORECLOSURE NOTICES 0 83 8,387
BUILDING PERMITS 0 338 40,366
BANKRUPTCIES 1 232 13,336
BUSINESS LICENSES 0 76 6,213
UTILITY CONNECTIONS 0 125 13,120
MARRIAGE LICENSES 0 94 4,936

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