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VOL. TMN-9 | NO. 20 | Saturday, May 14, 2016
Weekly Issue

Station to Station

Bike share effort taps other cities for clear path

Even now, Explore Bike Share founder Doug Carpenter does not try to pretend that the initiative will cure all that ails Memphis. 

Editorial: The New Map of Memphis

It’s time for a map of Memphis that includes more than highways and vehicular roads.

SMALL BUSINESS SPOTLIGHT

Sometimes, Financial Planner Mike Cooper Just Saves Clients From Themselves

Mike Cooper understands that the information is everywhere. Financial “experts” on radio and television offer unsolicited advice with little regard for whether the consumer is a 25-year-old single mother worried about her children’s college education or a 50-year-old man beginning to turn an eye toward retirement.

Wilson Urges Family Philanthropic Efforts at Dunavant Awards

When most people think of the Kemmons Wilson family, there is an image that comes to mind. It’s a black and white photo from the 1950s of the five children – three boys and two girls – of the Holiday Inn founder cutting the ribbon on the very first Holiday Inn at 4925 Summer Ave.

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EVENTS

Tennessee Small Business Development Center will host a workshop on government contracting Thursday, May 19, from 9 a.m. to 11 a.m. at the Renaissance Business Center, 555 Beale St. The University of Tennessee’s Procurement Technical Assistance Center will teach small-business owners how to successfully compete for government contracts. Cost is free; registration required. Visit tsbdc.org/training for details.

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THE MEMPHIS NEWS ALMANAC

May 13-19: This week in Memphis history

1976: A Marx & Bensdorf ad in The Daily News offers a 170-acre estate at Holmes and Center Hill roads, then south of the Collierville city limits, for sale for $1.1 million. The “picture book” estate is advertised as the one-time home of the state’s most famous walking horse, Carbon Copy, the 1964 world grand champion.

RESTAURANT NEWS

Food Tour Event Launches This Weekend

When you’re a foodie like Cristina McCarter who proudly flies the flag of her favorite local restaurants, you attract certain reactions from friends.

EDUCATION

Shelby County Schools Board Eyes Wheel Tax to Bridge Budget Gap

Shelby County Schools board members are looking at the county wheel tax to bridge some, but not all of the $27 million gap in their still tentative budget for the new fiscal year.

REAL ESTATE & DEVELOPMENT

Retail, Amenities Embellish Highland Row Development

Highland Row, a mixed-use development sprawling across an entire block in the University of Memphis area, will see its first residents this summer.

RVC Outdoors Seeks Strickland’s Commitment

Andy Cates, CEO of Memphis-based RVC Outdoor Destinations, said his redevelopment plan for Mud Island won’t require significant public dollars, but he’s looking for a commitment from the city to move forward.

Bank Seeks Receiver for Warren, Tulane Apartments

The Bank of New York Mellon Trust Co. wants a federal judge to appoint a receiver for the Warren and Tulane Apartments owned by Global Ministries Foundation, citing “an appearance of fraud” by GMF in a memorandum filed with the call for a receiver.

Impact of Low Housing Inventory Spreads to Home-Staging Business

The low inventory of single-family homes means prices are higher and homes are selling quicker, but also that fewer people are dressing up their homes to make them more attractive to potential buyers in the market.

Shelby County Housing Market Looks Strong

All market fundamentals were positive for Shelby County home sales in April, making it the strongest month so far in 2016.

Mortgage Market Up 31 Percent in April

Shelby County’s mortgage market kicked off the second quarter by posting strong numbers for April, a continuation of where the mortgage market has been heading so far this year.

REAL ESTATE RECAP

More Student Housing For University District

3557 Mynders Ave. , Memphis, TN 38111, Permit Amount: $15.5 million -
A student housing tower near the University of Memphis has taken a step forward nearly two years after a development on that site was first announced.

NONPROFIT SECTOR

Nonprofit Operators Told That Failure Can Bring Long-Term Success

“Innovation and the Courage to Fail.” That was the theme for the 11th annual conference for the nonprofit sector presented by the Alliance for Nonprofit Excellence and Nonprofit Quarterly.

ARTS & ENTERTAINMENT

‘Underground’ Stars Surface in Memphis

The last time fans of the television show “Underground” saw actor Alano Miller, his character, Cato, was believed to be dead. The unexpected twist for a complex and central character in the WGN America drama based on the Underground Railroad in pre-Civil War America was still generating plenty of social media disbelief nearly a week later.

Memphis Musician Loan Program Awards First Loan

Memphis musician and Beale Street fixture Eric Hughes is finishing his latest album with help from a non-traditional source.

HEALTH CARE

Resurrection Health Merges With Larger System

Resurrection Health, a faith-based, evangelical health service organization that’s opened a handful of Memphis-area clinics since launching in December 2014, has merged with a larger health system.

GOVERNMENT & POLITICS

Rallings Fields Council Questions On Police Hiring, Director’s Job

Interim Memphis Police Director Michael Rallings says he has plenty of time to apply for the job on a permanent basis.

Rallings May Seek Permanent Director Post

When law enforcement brass talk about putting “drugs and guns on the table” – it’s a literal expression of a police department touting its ability.

Mayor Opposes City Funds for Mud Island

Memphis Mayor Jim Strickland says the city may be willing to help fund a $9 billion expansion of St. Jude Children’s Research Hospital that is mostly private capital.

Weirich Gets Body-Cam Help Until July

Shelby County Commissioners approved Monday, May 9, three temporary positions for the Shelby County District Attorney General’s Office toward the rollout of Memphis Police Department body cameras.

LAW & THE COURTS

Gangster Disciples Case Alleges Attempted Murder, Threats

When reputed members of street gangs are indicted on federal charges, the indictments are usually brief and technical.

SPORTS

Joerger Lands in Sacramento; Grizzlies Casting for Replacement

Future conversation in Sacramento between new coach Dave Joerger and franchise player DeMarcus “Boogie” Cousins:

FedEx, er, University of Memphis to Big 12?

The slogan still resonates: When it absolutely, positively has to be there overnight.

ECONOMY

Memphis Economist: 'I Don’t Believe in National Economies Anymore'

The day after Tennessee Gov. Bill Haslam and Economic and Community Development Commissioner Randy Boyd met with officials in Shanghai as part of an economic development trip to Asia, Michael Drury shared with an audience of business professionals his idea about national economies.

MEMPHIS NEWSMAKERS

Dave Thomas Named CEO Of Kemmons Wilson Insurance

Dave Thomas has joined Kemmons Wilson Insurance Group as chief executive officer. In this role, he’s responsible for overseeing day-to-day operations and also is tasked with growing the Memphis-based property and casualty insurance company. Thomas has 40 years of experience in the insurance industry, most recently serving as CEO of Louisiana Citizens Property Insurance Corp.

LETTER TO THE EDITOR

Reader Says Massacre Backstory is Complex

Mr. Dries, whether one calls the events of May 1866 riots, a massacre, or civil disturbances is not that relevant.

LOCAL COLUMNISTS

Retirement Spending – Easy to Underestimate

Ray’s Take: Conventional wisdom from cookie-cutter financial calculators about retirement is to aim for 70 percent of current income in retirement. But, when told about the 70 percent figure, people tend to ignore the implied message that it means a 30 percent cut in lifestyle. As a result, many people underestimate the amount they need.

High Water Marks

LORD KNOWS, THE CRICK DOES RISE. The last time I was on a cook team, the Mississippi was lapping at the top of Tom Lee Park and I’d been lapping at a number of things for a couple of days myself.

A Graduation Speech to Inspire

Graduation season comes with hundreds of commencement addresses meant to encourage and inspire. If you didn’t hear one this year, allow me to share an address I gave.

Suck-Egg Dogs Revisited

Several years ago – and I do mean several – my good friend Fred Harrison tipped me off to a pair of cases from the Mississippi Supreme Court. They were prominently featured in “Perry’s Dead! (And the ‘Juice’ is Loose),” 1995. Because of their lasting merit, I present them again in today’s column.

Haves, Have-Nots Get Varied Tax Relief

Amid the rancor of bathroom and counseling bills, two major pieces of legislation slipped through the General Assembly this session with hardly a peep – elimination of the Hall tax and a partial revitalization of property tax relief for seniors and disabled veterans.

More Than Just Hard Work

One of the most common messages I received as a child was, “work hard and you will be rewarded.” This sentiment was echoed by loved ones, teachers, and mentors. There’s a good chance you heard the same rumor about life being fair and equitable.

Trust Creates Sales Advantage

I find myself inspired today by a book, recommended by a colleague, called The Speed of Trust by Stephen M. R. Covey. You are probably familiar with Covey’s father, who wrote The 7 Habits of Highly Effective People.

What’s Your Innovation Definition?

So many organizations set out to innovate but lose their way close to the finish line. All of the time, money and energy invested loom over them like an ominous shadow of failure ready to overtake the whole scene.

The Power and Time of Volunteers

“Give me six hours to chop down a tree and I will spend the first four sharpening the axe.”

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 61 331 19,904
MORTGAGES 80 391 23,305
FORECLOSURE NOTICES 0 83 8,387
BUILDING PERMITS 0 338 40,366
BANKRUPTCIES 35 231 13,335
BUSINESS LICENSES 28 76 6,213
UTILITY CONNECTIONS 0 125 13,120
MARRIAGE LICENSES 21 94 4,936

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