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VOL. TMN-9 | NO. 45 | Saturday, November 5, 2016
Weekly Issue

Expanding Care

St. Jude CEO talks about 2016, what’s to come

With the arrival of the holiday shopping season, dozens of major retailers – brands from Best Buy to Williams-Sonoma to Brooks Brothers and New York & Co. – as well as the consumers who patronize them will also be turning their attention to St. Jude Children’s Research Hospital.

EDITORIAL

Editorial: St. Jude’s Promise And Expanding Possibilities

Sometimes revolutionary ideas are expressed in small voices.

Experts: Memphis Competitive on Commercial Real Estate Front

Incentives are an indispensable tool for attracting major corporate tenants to Memphis. Memphis industrial real estate activity is hot, there’s something of a war for office sector talent and there’s been good absorption of multifamily space in Memphis this year.

Shelby County Early Vote Tops 242,000

A total of 242,309 citizens, or 42.6 percent of registered voters, cast an early or absentee ballot during the early voting period that ended Thursday, Nov. 3, according to Shelby County Election Commission figures.

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EVENTS

U.S. Rep. Steve Cohen will hold his annual Federal Procurement Fair for Small-Business Owners in Memphis on Monday, Nov. 7, from 9 a.m. to 12:30 p.m. at the University of Memphis FedEx Institute of Technology, 365 Innovation Drive. Business owners will learn about contracting with the federal government and can meet one-on-one with procurement officials from state and federal agencies. RSVP to cohen.procurement@mail.house.gov by Friday, Nov. 4.

more events »

SMALL BUSINESS SPOTLIGHT

Austin Insulation Stays On Call Even Into the Middle of the Night

The work won’t wait. When it needs to be done, it needs to be done and it needs to be done right. Wayne Austin, president of Austin Insulation, has always operated with that mindset.

THE MEMPHIS NEWS ALMANAC

November 4-10, 2016: This week in Memphis history

2005: Baptist Memorial Hospital comes down in a controlled demolition in which the four wings of the 18-story, 924,000-square-foot reinforced concrete hospital building collapse in a heap of rubble 49 years after the original two wings opened to the public. The other two wings of the structure were added in 1966. Also demolished earlier as part of the project was the adjoining Physicians and Surgeons Building, which had been built in 1912 as the original Baptist Hospital.

RETAIL

Midtown Kroger Opens With Pedestrian Focus on Busy Union Avenue

The carillon at Idlewild Presbyterian Church played the University of Memphis fight song Wednesday, Nov. 2, as the parking lot of the Midtown Kroger filled with cars. A block away a fire truck’s siren mixed with the church bells as the truck left the Union Avenue fire station to a call.

Ikea Prepares To Join Retail Landscape In Cordova

The marketplace section of the Ikea Memphis store is still a work in progress six weeks from its Dec. 14 opening.

POLITICS

Election Fallout: What a Trump Or Clinton Presidency Means for State

Donald Trump is going to win easily in Tennessee.

Weld Catches Libertarian Heat At Memphis Campaign Stop

Bill Weld didn’t wait for a question about Democratic presidential nominee Hillary Clinton to come up during a Wednesday, Nov. 2, campaign stop in Memphis.

REAL ESTATE

Jernigan Capital Earns $5M Q3 Profit

Dean Jernigan is one of those CEOs who’s happy to spend big chunks of earnings calls with analysts leading a deep dive into the macroeconomics of his public company’s industry.

ARTS & ENTERTAINMENT

1-Year-Old Halloran Centre Expands Orpheum’s Reach

The contrast couldn’t be greater. The Orpheum Theatre opened in 1928 and was one of the first buildings in Memphis placed on the National Register of Historic Places. The Orpheum’s Halloran Centre for Performing Arts & Education is a year old and is a model of contemporary design, technology and other amenities.

MANUFACTURING

Verso Laying Off 190 at Maine Mill

Memphis-based Verso Corp. is laying off 190 workers at its Androscoggin Mill in Jay, Maine, as it temporarily idles one of its paper machines there.

HEALTH CARE

Street Near Methodist To Be Renamed After Shorb

Methodist Le Bonheur Healthcare CEO Gary Shorb is retiring from the hospital system at year’s end. In addition to a legacy that’s included 15 years as Methodist’s CEO, plus other leadership roles at Methodist and at Regional One Health, Shorb is also leaving something behind in the city’s medical district – his name.

CITY HALL

Council Rejects 2 Car Lots, Amends DROP Freeze for C-Suite

Starting a used car lot used to be a lot simpler. In fact it was considered a right – “development by right” – until a change in recent years in the local Unified Development Code.

NONPROFIT SECTOR

Deer Hunting Season Brings More Food For Needy Through TWF Program

For Melvin Williams, chef at Alpha Omega Veteran’s Services, receiving venison donated by the Tennessee Wildlife Federation’s Hunters for the Hungry program is a special treat each hunting season.

GOVERNMENT & POLITICS

Commissioners Clash on Pot and PILOT

A pot ordinance for unincorporated areas of Shelby County got only four votes Monday, Oct. 31, from the county commission but still advanced to second reading, and commissioners could not agree on a resolution opposing a Nov. 8 ballot question that would shift MLGW funds to the city of Memphis.

COMMUNITY

Local University Groups Work to Combat Food Waste to Help Needy

The way Rhodes College junior Tate Mulligan sees it, to whom much has been given, much is expected.

MARKETING & ADVERTISING

Morris Marketing, Archer Malmo, DCA Take Top PRSA Memphis Honors

Morris Marketing Group, Archer Malmo and DCA took top honors at the 23rd annual Vox Awards hosted recently by the PRSA Memphis chapter at Visible Music College.

SNAPSHOT

Snapshots: Putting Together a Grand Opening

With about six weeks left until Ikea Memphis' grand opening, the Swedish furniture retailer is assembling the displays within the 271,000-square-foot store. The store opens Dec. 14, but managers are preparing for customers to begin lining up two days beforehand.

FINANCIAL

First Tennessee Capital Markets Unit Acquires Houston Firm

First Tennessee Bank’s Memphis-based capital markets business, FTN Financial, is acquiring a Houston company that specializes in Small Business Administration loans.

GREEN

Wolf River Greenway Prepares to Move as River Causes Changes To Plan

Before Thanksgiving, the Wolf River Conservancy should have a contract awarded to begin work on the trail and trail head at Kennedy Park and start work on the privately funded part of the 21-mile Wolf River Greenway.

SPORTS

More Rest for Gasol, Conley Means More Minutes for Young Grizzlies

Five games into their season, the Memphis Grizzlies have provided a small sample size that is simultaneously encouraging, confounding and still mildly concerning. 

Cubs’ World Series Victory The Start of a New Narrative

You can buy into the goat, into the black cat that walked in front of Ron Santo in 1969, into infamous Steve Bartman and, well, into the whole notion that the Cubs were cursed for 108 years, if you wish. 

Bad Week for Jones Means Losing On, Off the Field

If Tennessee football coach Butch Jones thought last Saturday night was bad in Columbia, South Carolina, he had no idea what was waiting when he got back to Knoxville.

Titans? Win the AFC South? Sure, It’s Possible

In a remarkable change of course over recent seasons, the Tennessee Titans entered the month of November still relevant in the AFC South race.

Johnson’s Impact on Titans Locker Room Will Outlive Tenure

Outside of his game-winning touchdown catch that capped a comeback in Detroit, Andre Johnson didn’t do much on the stat sheet for the Tennessee Titans.

Brick by Brick, UT’s Season Falling From Rocky Top

When Butch Jones arrived at Tennessee, he adopted a “brick-by-brick” mantra for describing the building of the Vols program. And the bricks did appear to be getting stacked higher: five wins in 2013, seven wins the next year, and nine last season.

Norvell, Tigers Look to Flip the Script at SMU Saturday

Redshirt junior receiver Anthony Miller had a record-setting day with 12 catches for 250 receiving yards. But with the University of Memphis suffering a second straight defeat last Saturday, 59-30 to Tulsa at Liberty Bowl Memorial Stadium, he hasn’t spent much time replaying the good moments.

MEMPHIS NEWSMAKERS

FedEx Express’ Brown Named To Savoy’s ‘Power 300’ List

Shannon A. Brown, senior vice president and chief human resource/diversity officer at FedEx Express, has been named to Savoy Magazine’s Power 300: 2016 Most Influential Black Corporate Directors list. Brown, who was honored as a member of the BancorpSouth Inc. board of directors, also holds board memberships with several universities and nonprofit organizations in the Mid-South and beyond.

MARTHA KELLY'S MEMPHIS

Bridging History

Memphis artist Martha Kelly captures the splendor of the Harahan Bridge this month where the new, nearly one-mile Big River Crossing boardwalk connects Memphis with West Memphis, Arkansas.

LOCAL COLUMNISTS

Prepping for the Next Market Correction

Ray’s Take Stock market corrections are an inevitable part of investing. Since 1932, declines of 10 to 20 percent have occurred every two years on average. It might happen next week, three months from now, or next year. 

We Need Hits

GOT TO KEEP SWINGING. In the last week, somebody took my iPad and my sunglasses out of my car, the hot water heater crapped out and rained through the ceiling light fixtures, something crawled up inside our dryer vent and died, and somebody lifted my wife’s phone and wallet from her purse. Job called and offered his condolences.

All Roads End in Hollywood

Blame it on Disney Pixar. When our son was younger he was obsessed with the “Cars” movie.

Reconfirming

Things I already knew, but have recently reconfirmed: That, at any given time, my clothing (including the contents of my pockets) weighs about six pounds.

The Biggest Application Misconception

In the 1989 film “Field of Dreams,” Kevin Costner’s character builds a baseball field after hearing a voice say, “If you build it, he will come.” As job seekers, it seems we often try to take a similar approach.

Planning Can Defeat Mediocrity

It’s a scenario many sales leaders know too well: You hire talented people with stellar track records and are left bewildered when they struggle to make their numbers week after week. You coach them. You put them on performance improvement plans. You remind your team of minimum targets and echo their bonus incentives at every sales meeting. Yet your team’s performance continues to decline and motivation nosedives as a result.

Who Gets Credit for the Gift?

November and December are times of increased giving. So many of us are relationship- and philanthropy-focused. We open our homes to friends and family, and we open our wallets to nonprofits. 

Give Us Your Lions!

Command-and-control, top-down organizations have the most trouble innovating. In particular, the fearful mindsets that review, align and sign off on “decks” to be presented to vice president-level colleagues often edit out the insights and recommendations that have the power to grow the business in new ways. 

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 344 19,573
MORTGAGES 110 422 22,914
FORECLOSURE NOTICES 2 8,305 8,305
BUILDING PERMITS 207 838 40,029
BANKRUPTCIES 60 356 13,104
BUSINESS LICENSES 21 194 6,137
UTILITY CONNECTIONS 30 147 12,996
MARRIAGE LICENSES 15 65 4,842

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