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VOL. 133 | NO. 126 | Monday, June 25, 2018

EdR to be Acquired in $4.6 Billion Deal

Memphis-based collegiate housing developer and manager EdR has entered into an agreement to be acquired by the newly-formed, perpetual-life fund Greystar Student Housing Growth and Income Fund in a $4.6 billion all-cash transaction.

The Week Ahead: June 25-July 1

Good morning, Memphis! Your lawn chairs and blankets will get plenty of use this week as a bevy of concerts jam out under the night sky. Plus, South Main lights up for Trolley Night, dinosaurs roar into the Agricenter and much more in The Week Ahead…

Memphis Tourism: Organization's Rebrand Adds Soul

Even the simplest rebranding can come with a lot of study. So the Memphis Convention and Visitors Bureau's rebranding to Memphis Tourism, announced Friday, June 22, may not seem like a big change.

Grizzlies Use No. 4 Overall Pick on Michigan State's Jaren Jackson Jr.

Memphis Drafts West Virginia Guard Jevon Carter 32nd Overall

The Memphis Grizzlies used their No. 4 overall pick in Thursday’s NBA Draft to select Michigan State forward Jaren Jackson Jr. and fans who came to FedExForum for a watch party reacted with a mix of cheers and boos.

OBAP Launches Luke Weathers Flight Academy in Olive Branch

With initial plans to increase diversity of the airline industry by 50 pilots per year within the next five years, the Organization of Black Aerospace Professionals has opened the Lt. Col. Luke Weathers Jr. Flight Academy at the Olive Branch Airport.

Local Weather
Currently
Memphis, TN
89.0°F
A Few Clouds
Wind: Variable at 4.6 mph
Humidity: 53%

EVENTS

The Voices of the South Writing Cabaret meets Monday, June 25, from 6 p.m. to 8 p.m. at TheatreSouth, 1000 S. Cooper St. (in the First Congregational Church basement). At the start of the evening, participants receive a writing prompt and write for an hour, then everyone is given the opportunity to share what they have written. Cost is free; one drink minimum. Visit voicesofthesouth.org.

more events »

Around Memphis: June 25, 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: Rebranding and Self Identity, The Many Legs of CTE and Draft Recap

What’s in a name? Plenty when it comes to tourism. The Memphis Convention and Visitors Bureau is now Memphis Tourism – a name change that has been in the making for a while before last week’s unveiling at the CVB’s annual meeting where it flipped the switch on the new identity. There are a couple of key ingredients in the change – soul and home – according to Memphis Tourism president Kevin Kane.

REAL ESTATE RECAP

Midtown Getting Denser, North Main Getting New Coffee Shop

2542 Broad Ave., Memphis, TN 38112 -
3D Realty was given a 15-year Residential PILOT (payment-in-lieu-of-taxes) for a $51 million, 414-unit mixed-use multifamily project on Broad Avenue.

THE MEMPHIS NEWS

Editorial: End of Immigration Policy is Restoration Of Law and Morality

This isn’t over. A simple and heartrending edict to separate families at the U.S.-Mexico border will prove to be anything but simple for the White House and Republicans in Congress to reel back in.

Where the Jobs Are

How Memphis schools are rethinking career and technical education

Out of more than 15,000 Shelby County Schools students who took some kind of career and technical education, or CTE, courses in the 2015-2016 academic year, only 1 percent – roughly 150 – completed those classes to get some kind of work certification.

June 22-28, 2018: This week in Memphis history

1993: Memphis premiere at the Orpheum of the movie “The Firm” with director Sydney Pollack in attendance. After the premiere, Pollack acknowledges that he feels some pressure for the film, starring Tom Cruise and based on a John Grisham novel, to be a success given the box office failure of his previous film “Havana.” The movie departs from the novel in its ending with a legal resolution that keeps Cruise’s character on the right side of the law. The movie’s ending is crafted with the help of Memphis attorney, former Tennessee Attorney General and U.S. Attorney Mike Cody.

LAST WEEK'S MOST POPULAR

Bain Capital Buying Varsity Brands for $2.5B

Memphis-based Varsity Brands Inc. is being purchased by Bain Capital Private Equity in a deal Varsity says will help it "accelerate our growth to the next level."

Dream Redux

Redbirds’ Stubby Clapp just might return to majors as a manager someday

On a recent afternoon at AutoZone Park, manager Stubby Clapp’s team had a two-run lead going into the ninth inning. Assigned the task of getting the last three outs: veteran big league closer Greg Holland, he of 186 career saves and three All-Star appearances, and on this day pitching for the Memphis Redbirds on a rehab assignment.

MEM Grows Five Years After Delta De-Hub

Five years after Delta Air Lines de-hubbed Memphis International Airport, the airport’s transition to most of its customers being origin and destination passengers has had mixed results in other ways.

Fred's Prepares to Sell Retail Pharmacy Business

Memphis-based Fred’s Inc. wants to sell its retail pharmacies, which would effectively reverse much, if not all, of its efforts to shed its discount-store identity in a transition to personal health care. Fred’s has hired an adviser to talk with potential buyers of its retail pharmacy business, company leaders announced Thursday, June 14, as it reported quarterly financial results to analysts.

Bank of Bartlett Consolidating Germantown Branches

Bank of Bartlett has announced it will consolidate its two neighboring Germantown operations in a singular “enhanced” location at the corner of Poplar Avenue and Kirby Parkway.

STATEWIDE

Republican debate for Tennessee governor canceled

NASHVILLE, Tenn. (AP) — Organizers have canceled a scheduled Republican debate for governor because two of the leading candidates said they would not participate.

Mike Huckabee endorsing Randy Boyd for Tennessee governor

NASHVILLE, Tenn. (AP) — Former Arkansas governor and presidential candidate Mike Huckabee is endorsing Republican Randy Boyd for Tennessee governor.

No tuition hike for UT students in Knoxville, Chattanooga

KNOXVILLE, Tenn. (AP) — Students at the University of Tennessee's Knoxville and Chattanooga campuses won't have a tuition increase next year.

REGIONAL NEWS

Suburban Mississippi area to spend $3 million on flood study

HORN LAKE, Miss. (AP) — Governments in the Mississippi suburbs of Memphis, Tennessee, will spend more than $3 million to study flooding.

Tupelo contestant Asya Branch wins Miss Mississippi crown

VICKSBURG, Miss. (AP) — Asya Branch is 2018's Miss Mississippi.

More indictments returned in Arkansas fight against crime

LITTLE ROCK, Ark. (AP) — Increased efforts to battle drug and gun crimes have led to more than 70 indictments filed so far this month, according to federal authorities in Arkansas.

Arkansas to evaluate river sinkhole where kayaker died

LITTLE ROCK, Ark. (AP) — Arkansas has hired a consultant to evaluate a stretch of river where a kayaker was dragged to his death when a rare sinkhole created a whirlpool.

US NEWS

At hub for border crossings, families spread throughout US

MCALLEN, Texas (AP) Manuel Martinez, who fled Honduras because gangs were trying to recruit his 12-year-old son, was prepared to be separated from his child after paying a smuggler to cross the Rio Grande by boat and getting arrested by the U.S. Border Patrol.

Sanders says she was told to leave Virginia restaurant

WASHINGTON (AP) — White House press secretary Sarah Huckabee Sanders was booted from a Virginia restaurant because she works for President Donald Trump, setting off a fierce debate about whether politics should play a role in how administration officals are treated in public.

NATIONAL BUSINESS

DOJ gives Congress new classified documents on Russia probe

WASHINGTON (AP) — The Justice Department says it has given House Republicans new classified information related to the Russia investigation after lawmakers had threatened to hold officials in contempt of Congress or even impeach them.

Average gas price falls 6 cents a gallon; 1st drop in months

CAMARILLO, Calif. (AP) — The average price of a regular gallon of gasoline fell 6 cents over the past two weeks, to $2.95.

From boat makers to farmers, US-led tariff war inflicts pain

WASHINGTON (AP) — A Florida boat builder absorbs $4 million in lost business and expects more pain. An Ohio pork producer is losing access to a vital export market and fears the damage will last years. A motorcycle shop near Cologne, Germany, wonders if it even has a future.

Online sellers consider how to comply with sales tax ruling

NEW YORK (AP) — While a Supreme Court ruling on sales taxes will create more obligations and expenses for many small online retailers, owners are already thinking about how they'll comply.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 90 140 15,764
MORTGAGES 100 162 18,210
FORECLOSURE NOTICES 0 13 2,418
BUILDING PERMITS 194 315 32,829
BANKRUPTCIES 57 116 10,129
BUSINESS LICENSES 25 50 5,228
UTILITY CONNECTIONS 35 64 6,213
MARRIAGE LICENSES 26 50 3,463

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