» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation Links
VOL. TMN-10 | NO. 22 | Saturday, May 27, 2017
Weekly Issue

Full Restoration After Smaller 'Hurricane Elvis' To Take More Than a Week

The storm that raked Memphis with 80 mile-an-hour winds Saturday evening was similar to the 2003 storm nicknamed “Hurricane Elvis” but not quite as widespread.

The Buying And Selling Of Memphis

The perils of dirt-cheap real estate and investors who buy sight unseen

Even before he went to federal prison for 25 years on a racketeering conviction in 1995, Danny Owens had a real estate portfolio. The strip-club kingpin who defined the industry in Memphis across a 20-year period owned the old Memphian movie theater and made possible its 1986 sale to Playhouse on the Square by donating $160,000 toward its purchase.

EDITORIAL

Editorial: We Must Stand Together To Fight Memphis Blight

The saying is you can’t see the forest for the trees. And at times that is what Memphis’ seemingly eternal battle with blight feels like.

Weekly Issue

View This Week's Issue of The Memphis News

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

Issues | About

Weekly Logo
EMPHASIS Public Companies

ServiceMaster Almost Ready for First Employees to Occupy Downtown HQ

By mid-June the first wave of employees will move into the new ServiceMaster Global Headquarters at 150 Peabody Place, bringing to fruition what many city leaders believe is one of the biggest wins for Downtown Memphis in a decade. 

Memphis-Based MAA Thriving As Demand for Rental Housing Grows

Since it was founded by George Cates in 1977, real estate investment trust MAA has grown from an upstart local business into a S&P 500 company with more than 100,000 units and total market capitalization of $16 billion.

FedEx Supply Chain Ramps Up New Medical Distribution Warehouse

FedEx Supply Chain, formerly known as Genco, is ramping up activity at its 1.1 million-square-foot multitenant distribution warehouse on East Holmes Road. Memphis-based FedEx Corp. acquired Genco, a third-party logistics provider, for $1.4 billion in early 2015 and announced a network expansion last October.

THE MEMPHIS NEWS ALMANAC

May 26-June 1, 2017: This week in Memphis history

1956: Carl Perkins at the Overton Park Shell with a surprise visit by Elvis Presley. Just five months earlier, Sun Records had released Perkins’ biggest hit, “Blue Suede Shoes.” And Presley had left Sun late in 1955 for RCA.

LAW & THE COURTS

Crime & Punishment

Attorney general targets gangs, drugs and prosecutorial discretion

Federal prosecutors have the discretion to pass on charging a defendant with every possible criminal charge that can be made.

COMMERCIAL REAL ESTATE

Senses Allowed to Remain Open While Reapplying for Permit

Senses, the Poplar Avenue nightclub that found itself in the midst of zoning dispute, will be allowed to remain open for business while the owners and the county sort out the zoning issues.

Railgarten Application Cleared by Board of Adjustment

Railgarten has the green light from Shelby County’s zoning board to reopen its outdoor features, the second approval the Midtown venue has received this week as it gets its zoning issues straightened out.

Mueller Approved for 10-Year Tax Abatement to Relocate to Collierville

The Collierville Board of Mayor and Aldermen approved Mueller Industries’ request for a 10-year tax abatement, paving the way for the company to begin the process of relocating its corporate headquarters to Collierville.

REAL ESTATE RECAP

Medical District Apartments Sell for $5.2 Million

A medical district apartment switches hands in a multimillion-dollar deal, a Downtown developer plans an apartment complex near FedExForum, and a California investor buys a local industrial portfolio. Details in this week’s Real Estate Recap...

HEALTH CARE

Memphis Jewish Home Turns 90, Plans Expansion

Eugenia Levitch and Martha Mitchell have only known each other for about a year, yet they've got their comedy routine down pat.

MERI Hosts Emergency Training for First Responders

More than two dozen Shelby County first responders had a chance to learn advanced techniques this week, thanks to a partnership between the Medical Education and Research Institute and the Shelby County Fire Department.

GOVERNMENT

Shelby County’s Certified Property Tax Rate Set at $4.13

Shelby County Commissioners set the certified county property tax rate at $4.13 Monday, May 22, a 24-cent drop from the current tax rate of $4.37.

Council Sets Stage for City Employee Pay Raises

Memphis City Council members approved Tuesday, May 23, a 1 percent across-the-board pay raise for all city employees setting the stage for a final vote on budget matters at the June 6 council session.

RETAIL

New City & State Location Highlights Medical District Upswing

Come next spring, the Broad Avenue Arts District coffee and retail venture City & State is expanding to the Memphis Medical District.

AutoZone Downgraded After Disappointing Q3

Analysts downgraded shares of auto parts retail giant AutoZone on Tuesday, May 23, after the company reported a second straight quarter of weaker earnings and sales for its fiscal third quarter.

FINANCIAL SERVICES

Bank On Memphis Effort in National Spotlight

Shelby County Trustee David Lenoir was in the nation’s capital this week, speaking by invitation on a panel at the 2017 Bank On national conference in Washington, D.C.

ENTREPRENEURSHIP

Small Fitness Centers Fight Tax Exemption for Larger Competitors

Jeff Rose and his wife Nancy sank their entire life savings, more than $500,000, into opening the Orangetheory Fitness center in Lakeland in 2015.

MINORITY BUSINESS

Hardy: EDGE’s MWBE Program Not Working

The chairwoman of the Greater Memphis Chamber board said first indications are that minority business requirements in tax breaks awarded by the Economic Development Growth Engine – or EDGE – aren’t working.

SPORTS

As FESJC Turns 60, There's No Taking PGA Tour Event for Granted

This year marks the FedEx St. Jude Classic’s 60th year in Memphis. For decades the annual PGA Tour stop has signaled the start of summer and the arrival of stars ranging from Lee Trevino and Jack Nicklaus to Greg Norman and Phil Mickelson.

Tiger Football Team’s Offense Already Getting Rave Reviews

Could the University of Memphis really have the second most potent offense in college football next season? David Kenyon, a writer for bleacherreport.com, believes it’s possible. He just put out his predictions for the Top 25 offenses in 2017 and only the Oklahoma Sooners finished ahead of the Tigers.

Wide Receiver U? That’s So 20 Years Ago

At the 2015 SEC Media Days, Tennessee coach Butch Jones referred to his school as “the original Wide Receiver U.”

Big Names With UT Ties Eyed for Vol Baseball Job

Tennessee baseball is starting a new era. Dave Serrano coached his final games for the Vols (27-25, 7-21 SEC) last weekend when the Vols were swept by Missouri (35-21, 14-16) in a three-game series at Lindsey Nelson Stadium.

Nashville Predators Crash Stanley Cup Finals

Just based on the fact that the Nashville Predators were the last team to sneak into the NHL playoffs this season, they have no (logical) right to be in the Stanley Cup Finals now. But they are. They clinched their spot with a 6-3 victory over the Anaheim Ducks in Game 6 of the Western Conference Finals Monday, May 22, in Nashville.

Former St. Benedict, U of M Pitcher Sam Moll One Step Away From the Bigs

Lefthander Sam Moll was good as a freshman and sophomore pitching at the University of Memphis. But as a junior in 2013, the St. Benedict at Auburndale High School product was something beyond dominant.

SNAPSHOT

Snapshot: Taking Shape

Construction progresses on the $21 million, 38,000-square-foot Ballet Memphis facility at Cooper Street and Madison Avenue. Completion of the performance center, designed by Archimania, is expected this fall.

MEMPHIS NEWSMAKERS

Vaco Risk Solutions' Brian Prentice Talks Data Breaches, Safety

Vaco Memphis has added Brian Prentice as managing partner of Vaco Risk Solutions, a national consulting firm that works with organizations that have IT security, risk or compliance needs; have had a recent breach; are moving data centers; require a penetration test; or have any other project-based risk management needs.

THE TIPPING POINT

MFD's McNeil Puts Out Fires – Literally

Major McNeil can’t tell you much about his first week as a firefighter – and not just because it was more than 24 years ago. The fact is, he was pretty nervous.

LOCAL COLUMNISTS

Unwilling Private Sector Gives Park Workers a Victory

Two state parks are celebrating victories in an atmosphere of uncertainty created by the governor’s penchant for privatizing state functions.

New Rules for Emergency Funds

Ray’s Take The old rule of thumb for an emergency savings account was three to six months of living expenses. It was created at a time when the workforce experience was more monolithic and predictable. This was when there more likely was a single breadwinner who worked at the same company their entire life and retired with a gold watch and a big send-off party. 

Of Camels and Spoon

SPOON. 2002-2017. We took a left off of I-55 somewhere around Coldwater and drove about 10 miles through farms to our destination. There was a wooden sign with hand-painted numbers by the gravel drive. There was a Shetland pony in the yard. And emus.

Children are Watching

A passage from Walt Whitman’s “Leaves of Grass” states, in paraphrase: A child goes forth each day, and the first object that the child sees, that object he/she becomes, for a day, or part of a day, or for days stretching into years.

Please, Let Your Child Grow Up

Today’s young people are more thoughtful and kinder than many of the older job seekers they’re competing against. They care about making a difference more than their own personal finances or another self-serving endeavor.

No Deal Beats a Bad Deal

Editor Note: This is part two in a two-part series. Suppose you have 10 ounces of red dye and your associate has 10 ounces of yellow dye. The assignment is for each of you to create 10 ounces of the perfect shade of orange. The fair solution: exchange five ounces of each color.

Internal Disruption: How to Create a Culture for Innovation

A Front End of Innovation Conference talk by Terry Bradwell, AARP chief innovation officer, and Anne Marie Kilgallon, AARP vice president, innovation. We “have been in a major transformation journey at AARP for three years,” says Terry Bradwell. “We are living longer and it changes how we think about retirement, work, love and everything about life.”

How to Decrease Fundraising Stress

We recently had the opportunity to speak with a nonprofit leader who was concerned about how her development director was spending his time. She didn’t understand why the money wasn’t coming in. 

Storm Damage Leaves 180,000 Without Power, Restoration More than A Week

It will probably take more than a week to fully restore power across the city in the wake of a Saturday evening storm that raked Memphis with a sudden burst of straight-line winds followed by rain.

Storm Damage Leaves 180,000 Without Power, Restoration More than A Week

It will probably take more than a week to fully restore power across the city in the wake of a Saturday evening storm that raked Memphis with a sudden burst of straight-line winds followed by rain.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 82 82 19,655
MORTGAGES 75 75 22,989
FORECLOSURE NOTICES 7 7 8,311
BUILDING PERMITS 138 138 40,167
BANKRUPTCIES 72 72 13,176
BUSINESS LICENSES 9 9 6,146
UTILITY CONNECTIONS 52 52 13,048
MARRIAGE LICENSES 30 30 4,872

Weekly Edition

Issues | About

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