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VOL. 133 | NO. 86 | Monday, April 30, 2018

Gibson Building Owners to Partner with Orgel Family

The new owners of the Gibson Guitar Factory building in Downtown Memphis have partnered with a prominent local family to bring the prime parcel of land back to life. 

Trolleys Return to Main Street

Almost four years after the trolley system was shut down and 25 years and a day since the service began, the Memphis Area Transit Authority resumed running the trolleys on the Main Street line.

Fred’s CEO Resigns, Replaced By CFO

The CEO of Memphis-based discount retailer Fred’s Inc. has left the company, less than two years into his run as the top executive and on the heels of a particularly volatile period for Fred’s that has seen other management shuffles, an uncertain turnaround strategy and a plummeting stock price.

Week Ahead: April 30-May 6

Good morning, Memphis! You can catch a Redbirds (vs. Oklahoma City Dodgers) or Tigers (vs. American Athletic Conference foe Connecticut) baseball game any day this week. Yes, spring is finally in the air.

Tigers' WR Anthony Miller and LB Genard Avery Selected in NFL Draft

Two former University of Memphis football players were selected in the 2018 NFL Draft and a third signed as a free agent.

Local Weather
Currently
Memphis, TN
92.0°F
Partly Cloudy
Wind: Southwest at 6.9 mph
Humidity: 62%

EVENTS

The Shelby County Mayor’s Office and the Division of Community Services will host a community meeting to gather community feedback on the development of a youth assessment and resource center Monday, April 30, from 6 p.m. to 8 p.m. at Knowledge Quest (Universal Parenting Place), 990 College Park Drive, suite 104. Visit shelbycountytn.gov/calendar.aspx for details.

more events »

Graceland Political Push Faces First Test at County Commission

In introducing Joel Weinshanker Thursday, April 27, at a town hall meeting in Whitehaven, Graceland CEO Jack Soden talked about Weinshanker’s “appetite for risk.” The group of 150 people in the theater at Guest House at Graceland soon got a good look at Weinshanker’s emerging plan to go public in a big way with one of the city’s most sensitive economic development issues – the city and county noncompete agreement with the Memphis Grizzlies that keeps the city and county from funding any 5,000-seat and up arena that might compete with FedExForum.

EDGE PILOTs Outperform Minority Spending Requirements, Report Says

The Economic Growth Development Engine for Memphis and Shelby County released a PILOT Recipient Spending report that details its certified local, minority and women-owned business spending.

Around Memphis: April 30, 2018

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 stories worth checking out…

Last Word: The Graceland Campaign, NFL Draft Run Down and Heritage Trail's Story

Riverside Drive is partially closed through Tuesday and then completely closed starting Wednesday marking the official start of Memphis In May and much of what is spring and summer in Memphis. Following close behind is registration for the Dragon Boat Races in mid-May. But it’s not all fun and games and detouring as you draw close to the river.

A Dozen Mural Artists Take City To Court Over 'Beige Patrol' Action

A group of a dozen artists whose murals were painted over in February or have been targeted for painting over by city public works crews are suing the city of Memphis in federal court.

Triumph Bank Chairman: We Expect Record Earnings in 2018

Triumph Bank’s leadership has laid out some ambitious goals the fast-growing bank will be pursuing through the rest of 2018 as well as some longer-term targets it will try and hit over the next five years.

REAL ESTATE RECAP

Memphis Army Depot, CA Building Get New Owners

2028 Memphis Depot Pkwy., Memphis, TN 38114 -
The 4.2 million-square-foot Memphis Depot Industrial Park just north of Memphis International Airport has sold for $50 million.

THE MEMPHIS NEWS

Building Heritage

Mixing the city’s hidden history with new growth

The basement of the Universal Life Insurance building, a Memphis landmark at Danny Thomas Boulevard and Dr. Martin Luther King Jr. Avenue, is still defined by the intersection of overhead ventilation shafts and pipes.

Web Extra: Forrest Slave Market Site Emerges From Past As Part of Heritage Trail

The same week as the formal re-opening of the Universal Life Insurance building, Tim Huebner, a Rhodes College history professor, and the students in his “historical methods” class went to Calvary Episcopal Church to unveil a new historical marker that marks the site of a very different business success story.

Editorial: GOP Governor Contenders Botched Pre-K Opposition

When three of the four major Republican contenders for Tennessee governor came to Memphis recently and each said without hesitation they oppose universal prekindergarten, it got the attention of those at the forum.

April 27-May 3, 2018: This week in Memphis history

2011: The second storm in a week drops another 4 inches of rain on the city in addition to the 7.8 inches in late April as the Mississippi River crests upstream at Cape Girardeau, Mo.

LAST WEEK'S MOST POPULAR

Graceland Map Shows New Arena, Convention Center and Manufacturing Center

A new map of plans for the Graceland campus in Whitehaven shows two “exhibit buildings” of 80,000 square feet each on either side of a “live event center” Elvis Presley Enterprises wants to build on the western border behind its Elvis Presley’s Memphis entertainment complex.

Strickland Proposes City Property Tax Rate Change After Windfall

Memphis Mayor Jim Strickland is proposing a change in the city property tax rate from the current $3.27 to a $3.19 rate as part of his third budget proposal.

With NFL Draft Thursday, Will Tigers’ Anthony Miller Go Late in First Round?

The NFL Draft is this Thursday. And University of Memphis wide receiver Anthony Miller is on the league’s radar. At nfl.com, draft analyst Mike Mayock ranks Miller as being tied for fifth-best receiver available with Oklahoma State’s James Washington.

Strickland Responds to Graceland Push for Arena Approval

UPDATE: Memphis Mayor Jim Strickland responded Friday, April 27, to comments made by Graceland Holdings managing partner Joel Weinshanker Thursday evening at a town hall meeting about Graceland's expansion plans. Here is the statement in full.

A Work Home Found

Phillips Sees His Life’s Work as Executive Director at Su Casa

Growing up in Texas, just south of Houston, Michael Phillips always had been around people speaking Spanish. He took Spanish classes (and German, too) in high school and always liked the language.

STATEWIDE

Tomb of President Andrew Jackson Vandalized

NASHVILLE, Tenn. (AP) – Officials at Andrew Jackson's historic home in Tennessee say the seventh president's tomb has been vandalized and marred by profanities.

Chemical Plant to Resume Operations After Explosion

CHARLESTON, Tenn. (AP) – A chemical plant in Tennessee that exploded in September is set to reopen in several weeks.

REGIONAL NEWS

Toyota to Spend $170M to Expand Mississippi Plant, Hire 400

JACKSON, Miss. (AP) Toyota Motor Corp. plans to invest $170 million and add 400 jobs at its Mississippi assembly plant as it shifts some production of the Corolla sedan from Canada.

Complaint Prompts Investigation of $50M Tupelo Project

TUPELO, Miss. (AP) – The Mississippi Department of Environmental Quality is investigating a $50 million project in Tupelo after receiving a complaint about its environmental impact.

NATIONAL BUSINESS

Theater Subscription Service MoviePass Tightens Plans

SAN FRANCISCO (AP) – MoviePass, a startup that lets customers watch a movie a day at theaters for just $10 a month, is limiting new customers to just four movies a month.

Once America's Best-Selling Car, The Ford Taurus Dies, Again

DETROIT (AP) – A car that once was America's top-seller is about to die – for a second time.

Student Loan Company Tells 16,500 Borrowers of Data Breach

MINNEAPOLIS (AP) – A student loan services company recently notified 16,500 borrowers that files containing personal data were released to a business that wasn't authorized to receive them.

Restaurants Calm Customers, Say Their Romaine is Safe

ANN ARBOR, Mich. (AP) – Restaurants' advice to their customers? Romaine calm.

TECHNOLOGY

Distracted by Technology? Microsoft Tries to Help

Technology companies whose devices and constantly scrolling online services have driven us to distraction are beginning to acknowledge that their products can be a waste of time. Some of them now say they're trying to help.

Sleep Mode? Tech Giants' Kids' 'Fixes' Amount to Baby Steps

NEW YORK (AP) – Facebook is adding a "sleep" mode to its Messenger Kids service to let parents limit when their kids can use it.

CONSUMER NEWS

Should You Fix Up or Break Up With Your Car?

You're looking at a $1,200 repair estimate for your ailing car when an ad catches your eye: a brand new set of wheels for a mere $450 a month.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 79 396 11,921
MORTGAGES 90 443 13,870
FORECLOSURE NOTICES 10 70 1,928
BUILDING PERMITS 191 975 25,139
BANKRUPTCIES 56 289 7,762
BUSINESS LICENSES 23 184 4,083
UTILITY CONNECTIONS 22 166 4,847
MARRIAGE LICENSES 16 81 2,625

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