VOL. TMN-10 | NO. 29 | Saturday, July 15, 2017
The controversy over Beale Street’s Saturday night cover charge
Saturday night on Beale Street is more than a catch phrase for businesses there.
Beale Street doesn’t need a cover charge, with or without rebate coupons, to solve its problems. Two summers into the policy, and after several crowd stampedes in the entertainment district before it, Beale needs a better security plan that probably includes a mix of Memphis Police and private security. But linking that to a cover charge, and the resulting checkpoints to enforce it, is sending the wrong message at the wrong time.
ONLY ON MEMPHISDAILYNEWS.COM
Some observations from three consecutive Saturday nights on Beale Street at and after 10 p.m.
First Tennessee Bank’s parent company saw net income climb 61 percent in the second quarter and First Tennessee itself announced the largest merger in its history, but company chairman and CEO Bryan Jordan characterized the period for analysts pretty much the way he always does during earnings presentations.
Thomas & Betts plans to add 75 employees and invest $20.7 million in its headquarters relocation in Memphis and is seeking a 15-year payment-in-lieu-of-taxes (PILOT) incentive to help defray those costs.
Three new redevelopment projects are seeking Exterior Improvement Grants from the Downtown Memphis Commission in the hopes of attracting new tenants.
President Donald Trump has nominated state Senate Republican Leader Mark Norris and Memphis attorney Tommy Parker to be the two newest judges in Memphis federal court, according to U.S. Senator Lamar Alexander of Tennessee.
THE MEMPHIS NEWS ALMANAC
2015: Former President Bill Clinton is in Memphis to speak at funeral services for Circuit Court Judge D’Army Bailey at Mississippi Boulevard Christian Church. The day before, Bailey lies in state at the National Civil Rights Museum, which he helped found.
MARKETING & ADVERTISING
Following major cancer surgery three years ago, Paradigm Marketing & Creative’s owner and chief idea architect Charles Gaushell decided to focus less on growing his company’s size just for the sake of growth and more on the quality of its clients and helping them to best tell their stories.
When Shelby County Commissioners convene Monday, July 17, it will be their third meeting in a week – following committee sessions Wednesday and the special meeting to approve a county operating budget two days before that.
The city of Memphis had 1,100 sanitation workers when the historic strike began in February 1968, with close to 1,000 of them walking off the job following the grisly deaths of two of their own trapped in the grinder of a garbage truck in East Memphis.
Shelby County Commissioners took a step Wednesday, July 12, toward taking back a 3-cent cut in the county property tax rate.
COMMERCIAL REAL ESTATE
With massive speculative buildings popping up all over North Mississippi and a direct vacancy rate lower than 6 percent for DeSoto County industrial sites, it’s hard to imagine a developer would still be able to find a hidden gem among the existing inventory. But that’s exactly what Agracel Inc. did.
Through the end of this month, the New Memphis Institute is continuing the yearly Summer Experience it hosts each year that’s comprised of free events for local and visiting college students and recent graduates, all with a view toward encouraging them to put down roots in Memphis.
A year after the spontaneous protest march that ended with more than 1,000 people shutting down the Hernando DeSoto Bridge for several hours, the leader of that effort was again moving north along B.B. King Boulevard on Sunday, July 9.
When the University of Tennessee Health Science Center launched its Center for Addiction Science in the College of Medicine last year, it represented an ambitious bid by the school to help people beat a variety of addictions and to research the causes of substance abuse.
A pair of scientists in Memphis is using almost $2 million in grant money to make improvements to an online database and open-source software system called GeneNetwork, used by researchers to study genetic differences and evaluate disease risk.
Even though the focus in the Memphis Medical District is often on incremental development, one of the neighborhood’s more unique projects is about to take a big step forward. Edge Alley, the Medical District’s mixed-use coffeehouse/micro-retail incubator concept, has formalized its inaugural lineup of tenants and expects to set a grand opening date soon.
Bo Allen speaks from experience when he describes the current residential real estate market as tilted toward sellers. Demand is so abundant at the moment that Allen, who’s also First Tennessee Bank’s West Tennessee president, saw his family’s East Memphis home get sold the same day it was put on the market.
REAL ESTATE & DEVELOPMENT
It may have taken the mediation of a Memphis City Council member and two hours of negotiation, but representatives from a local development group and a coalition of concerned Midtown residents were able to reach a tentative compromise on the fate of a massive project at the doorstep of Overton Park.
Though last month saw the first dip in average home sales prices in nine months, the number of home sales in June continued to increase.
Malco Theatres’ Downtown movie theater continues to take shape, with the Memphis-based cinema chain seeking its second multimillion-dollar building permit for the project in recent months. -
Malco Theatres’ Downtown movie theater continues to take shape, with the Memphis-based cinema chain seeking its second multimillion-dollar building permit for the project in recent months.
TRANSPORTATION & LOGISTICS
When it comes to logistics, the primary distribution center markets like Atlanta, Chicago and Los Angeles have led the way in terms of warehouse development. But as more companies look to tighten their supply chain, secondary markets – including Memphis; Louisville, Kentucky; and Cleveland, Ohio – have found themselves in a better position to absorb growth.
Business crossing the U.S.-Canadian border and the uncertainty about U.S. immigration policy six months into President Donald Trump’s administration dominated a meeting last week between about 30 Memphis business leaders and the head of the Canadian Chamber of Commerce.
Terence Patterson exited the Downtown Memphis Commission last week as the Memphis City Council is about to discuss replacing or restructuring not only the DMC, but the Riverfront Development Corp.
THE TIPPING POINT
“I always liked building things and working with my hands,” Josh Herwig muses, holding out a prototype of the medical device he’s designed and engineered.
HOOVER, Ala. – The countdown to the start of the next college football season is now measured in weeks, not months. But at an event such as SEC Media Days, the future is always framed by the past.
HOOVER, Ala. – They play in the same conference, but in different worlds. Alabama defines success as winning a national championship.
When in doubt, do what you do best – recruit. That seems to be the approach of Tennessee Vols coach Butch Jones. While many UT fans, and some in the media, are portraying this as a make-or-break season, Jones is planning for his future by stockpiling commitments for 2018 and beyond.
Tennessee coach Butch Jones passed his first test of the 2017 football season Monday. He made it through SEC Media Days.
HOOVER, Ala. – Hugh Freeze reached into his playbook Thursday morning at SEC Media Days and pulled out the Football Filibuster. At the podium in a hotel ballroom filled with journalists, the Ole Miss football coach made an opening statement that went beyond 15 minutes.
HOOVER, Ala. – Before SEC commissioner Greg Sankey kicked off SEC Media Days Monday morning, a league official reminded everyone there wasn’t enough bandwidth to support live streaming.
Andrew Crust, who recently was named assistant conductor of the Memphis Symphony Orchestra and conductor of the Memphis Youth Symphony, shares why young musicians inspire him and how orchestras can reach a younger audience in this week's Newsmakers Q&A.
VIEW FROM THE HILL
A shakeup in leadership is looming for the state Legislature, though it may portend more of a change in personalities than party strength.
In our USAToday, we woke up here. We’ve all heard former Speaker Tip O’Neill’s grammatically flawed truism, “All politics is local.”
Ray’s Take: It would be nice if you had a magic formula or an easy trick that made it so you never had to worry about money again, but life doesn’t work that way. You need a plan to help you reach your goals, and the plan should have multiple steps.
More than 15 million consumers were the victims of identity theft in 2016. Companies can also have their good names misappropriated in a scheme to defraud consumers.
Legend has it that well-known 20th-century economist Milton Friedman once visited a canal-building site in China where thousands of people were digging with shovels to complete the project. Friedman asked the foreman why they didn’t bring in heavy equipment to get the job done better and faster. The foreman told him that would put a lot of people out of work. “In that case, why not have them dig with spoons?” Friedman said.
We all have them. We often go there looking for safety, acceptance, understanding or just a sense of the familiar. Our comfort zones are natural, but living there can keep you from fulfilling your purpose in life. A comfort zone, if you burrow in too deep, can become a rut you get stuck in.
Editor’s note: This is the second in a two-part series. While many retirement plan participants know that they must take Required Minimum Distributions (RMDs) upon turning 70 1/2, they may not know that specific rules govern exactly how RMDs are distributed and how assets may be distributed to their beneficiaries. This second installment examines some of your potential options regarding designating beneficiaries and possibly avoiding RMDs altogether.
If you’ve been in sales, you’ve found yourself wondering about a prospect who was highly interested in your offering – and for whom you invested significant time – only to find them suddenly incommunicado.
Growing up, it seemed like one of the perks of being an adult was a lack of bullies. After all, bullying stops after high school graduation, right? Unfortunately, this isn’t always the case. A few bullies sneak through life without giving up their bullying ways. Often, these meanies resurface at work, making your eight hours there much less rewarding.
One of the biggest changes within the life of a nonprofit is the change in leadership. In most cases, this will be accompanied by a period of transition with an interim leader.
Editor’s note: Part one in a three-part series. Recently, more and more people ask me about launching their own business. They see something liberating about leaping into the unknown, owning their own destiny and not having to make compromises they are forced to make in their current situation.