VOL. 133 | NO. 26 | Monday, February 5, 2018
Good morning, Memphis! If you’re looking for a legit reason to “space out” this week, The Orpheum’s got you covered with two out-of-this-world events. Meanwhile, LeMoyne-Owen College honors Black History Month and a pair of local nonprofits celebrate the hope and heart of the city. And that’s just a taste of what’s on tap in The Week Ahead.
Memphis College of Art has tapped real estate brokerage firm Cushman & Wakefield/Commercial Advisors to handle the sale of its Midtown portfolio.
Atlanta-based Three P Partners has filed a $5 million building permit application with the Office of Construction Code Enforcement to construct a 118-room Hotel Indigo at the corner of North B.B. King Boulevard and Court Avenue.
Seven Memphis charter schools could close in 2020 if they don’t improve, based on Shelby County Schools’ first report card comparing its schools.
The Daily News offers a weekly roundup of Memphis-related headlines from around the web, adding context and new perspectives to the original content we produce on a daily basis. Here are some recent featires worth checking out...
Eagles over Patriots 41-33. Also at the Super Bowl – no Prince hologram in the JT halftime show but plenty of choreography and a nightclub beneath the stage … the NFL catch rule has its last hurrah – probably … Patriots-haters have the offseason to become Eagles-haters. And Philadelphia Police use hydraulic fluid to stop Eagles fans from climbing utility poles. Irony lives.
A Memphis charter school group led by the president of Christian Brothers University is preparing paperwork to apply with the state and Shelby County Schools to convert nine Catholic schools to charter schools.
Memphis-based retailer Fred’s Inc. has replaced its CFO for the second time in less than a year. Fred’s on Thursday, Feb. 1, announced the appointment of Joseph Anto as executive vice president and CFO, effectively immediately. He succeeds Jason Jenne, who was appointed CFO in July and is leaving the company.
Shoppers in Memphis will be able to get same-day delivery on orders they make from Target starting Friday, Feb. 8, thanks to Target’s $550 million purchase last year of the Internet-based delivery service Shipt.
REAL ESTATE RECAP
1350 Concourse Ave., Memphis, TN 38104: Two local restaurateurs are looking to carve out their own slice of the Crosstown Concourse with the opening of Elemento’s Neapolitan Pizza.
THE MEMPHIS NEWS
The limbo that people who came to the U.S. illegally as children find themselves in is a problem that has existed for quite some time.
Federal decision on DACA could have a material impact on Memphis economy
You never really get to the point where you can stand at a particular moment in time and forecast with any certainty how your life is going to turn out, how things are going to look or what’s going to be different over a long time horizon. That’s certainly the way it’s been, and still is, for Mauricio Calvo and Memphians like him.
1948: On the front pages of The Daily News, the city commission approves paying Pidgeon-Thomas Iron Co. a final payment of $6,691.62 for 45 fire hydrants. Illinois Central Railroad is granted a right of way to construct a spur track across Broadway. The commission is also converting lots of land along U.S. 51 in Frayser from agricultural to residential – including property along what is now Carrolton Road, the land south of Floyd on the west side of the highway and Woodland Heights on the southeast corner of Millington and U.S. 51. The city makes a payment of $1 million to cover the deficit run by the Auditorium and Market Commission for the last three months of 1947. And the city zones all of the land on the west side of East Parkway between Nelson and Young as “A” residential.
LAST WEEK'S MOST POPULAR
FedEx Corp. has announced it will invest $3.2 billion to enact three new programs in the wake of the U.S. Tax Cuts and Jobs Act, the first being to increase employee compensation by more than $200 million, about two-thirds of which will go to hourly employees.
A Target fulfillment center in southeast Memphis is closing in April, resulting in 486 layoffs.
2130 Exeter Road, Germantown, TN 38138: It looks like the Memphis area is finally getting a Trader Joe's. A $750,000 building permit application that lists Trader Joe’s as a tenant has been filed with the Office of Construction Code Enforcement.
Shelby County Schools is in the due diligence phase of a relocation out of its long-time central office near the Mid-South Fairgrounds. And it comes as the city is pursuing a redevelopment of the fairgrounds and areas around it.
Competition in the on-demand meal delivery space is heating up in Memphis with the online and mobile food ordering and delivery service Bite Squad adding more than 30 new restaurants to its stable in Memphis, bringing its total to more than 150 here.
NASHVILLE, Tenn. (AP) – Tennessee Gov. Bill Haslam has introduced bills to introduce credit-hour requirements for scholarships at higher education institutions, reform the juvenile justice system and shrink the University of Tennessee's board.
LITTLE ROCK, Ark. (AP) – A special panel of judges says 11 lawsuits filed in four states against the makers of the herbicide dicamba will be centralized in federal court in St. Louis.
WASHINGTON (AP) – Pay raises, the U.S. economy's Achilles' heel in its long recovery from the Great Recession, finally showed signs of accelerating last month – a trend that fanned inflation fears and sent bond yields rising and stocks sinking.
NEW YORK (AP) – Best Buy Co., the nation's largest consumer electronics retailer, says it will be handing out bonuses to more than 100,000 employees, joining a list of companies sharing a portion of their windfall from the corporate tax reform law with employees.
WASHINGTON (AP) – The Federal Reserve is imposing more penalties on Wells Fargo, freezing the bank's growth until it can prove it has improved its internal controls. In addition, bank agreed to replace four board members.
WASHINGTON (AP) – Federal Reserve Chair Janet Yellen, the first woman to head the nation's central bank, got a boisterous send-off from Fed staff, but she isn't taking any time off. After her last day at the Fed on Friday, she will start a new job Monday at the Brookings Institution.