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VOL. TMN-8 | NO. 35 | Saturday, August 22, 2015
Weekly Issue

Fairgrounds’ Future

Next steps for Memphis landmark come down to parking and timing

It’s hard to imagine that a 65,000-seat stadium could be overlooked. Perhaps it’s because the Liberty Bowl wasn’t in the center of the Mid-South Fairgrounds when the stadium was built in 1965; it was on the eastern side of 155 acres of city-owned land, with a rail spur running along its eastern boundary.

Appeals Court Keeps Alive Confederate Parks Renaming Challenge

The Tennessee Court of Appeals has revived a legal challenge to the city’s renaming of three Confederate-themed parks with a Friday, Aug. 21, ruling that keeps only one of the 15 plaintiffs intact.


Editorial: Fairgrounds To-Do List Grounded in Reality

Let’s cut to the chase with the Fairgrounds.

Memphis Chamber Backs Wharton in Mayor’s Race

The political action committee of the Greater Memphis Chamber is backing Memphis Mayor A C Wharton Jr. for re-election.

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The Church Health Center’s Tobacco-Free Tuesday kicks off Tuesday, Aug 25, at 5:30 p.m. at 1115 Union Ave. Dr. Nia Zalamea will discuss the benefits of quitting smoking, and attendees will preview CHC’s free Commit to Quit smoking-cessation program. RSVP to harrells@churchhealthcenter.org or 901-701-2222.

more events »

University of Memphis Reports Costs of Student-Athlete Scholarships

In a move to follow suit with the Power Five conferences, the University of Memphis has launched an initiative to provide full cost of attendance for its student-athletes. 

EMPHASIS Commercial Real Estate

Brookhaven Boom

Circle has become East Memphis' main restaurant destination

Downtown has the South Main Historic Arts District and the Main Street core. Midtown has Cooper-Young, Overton Square and the Broad Avenue Arts District, among others.

Freelance, Remote Work Part of New Office Reality

In its 2015 list of the top 100 companies to watch for remote jobs, FlexJobs looked at the job-posting histories of more than 30,000 companies last year. The report, released in January, revealed a 26 percent increase in the number of remote jobs posted, hinting that the option to work from home is becoming more widely accepted in the broader economy.

Sales of Senior Living Facilities Up in 2015

Mirroring national trends that show an increase in interest by investors in senior living facilities, the number of nursing home/elderly housing facilities that have changed hands is on the rise in Shelby County.


This week in Memphis history: August 21-27

1982: Tony Bennett plays the 5,000-seat Mud Island Amphitheater with a three-piece band in the river park’s inaugural concert season. The Beach Boys played the amphitheater a few days earlier while Chicago played it the previous month.

In Business for 140 Years, Burke’s Book Store is Making a Comeback

Independent bookstores tend to mean something special to lovers of the printed word. They aren’t just places of commerce, even for their owners, but a sanctuary for something in danger of slipping away in an increasingly digital world.

FedEx Reaches Tentative Agreement With Pilots Union

FedEx Corp. pilots have a tentative contract agreement with the Memphis-based shipping giant.

Tennessee Unemployment Unchanged in July

Tennessee’s unemployment rate was unchanged during the month of July, Tennessee Labor & Workforce Development Commissioner Burns Phillips announced Thursday in a release.

Lenoir: ‘Is It Time for a Tax Decrease?’

Shelby County Trustee David Lenoir says the $22 million extra in property tax revenue his office collected during the past fiscal year appears to be a trend of improving health in the local economy.

Orgel Group Planning Another Seasonal Beer Garden

If a Memphis beer garden can work in the spring, why not the fall?

Verso to Lay Off 600 in Maine, Kentucky

Verso Corp. is permanently eliminating 300 jobs in Maine and laying off another 300 in Kentucky as it reduces production of coated paper and dried market pulp.

Furthering Dreams

Community Foundation scholarships provide helping hand

Kiera Aycock is starting her freshman year at the University of Memphis. She will live in a dorm. And she will major in criminology, or in psychology with an emphasis in criminology.

Mayoral Debate Clash Focuses on City Finances

Memphis city government’s financial problems and how those problems happened was the flashpoint for the latest meeting of the top mayoral contenders on the Oct. 8 ballot.

Cohen, Corker Take Stands on Iran Deal

U.S. Rep. Steve Cohen and U.S. Sen. Bob Corker couldn’t have more different positions on the White House’s deal with Iran that comes to Congress in September for debate and a vote.

Las Tortugas Deli Mexicana Adding Second Location, Plans for More

Las Tortugas Deli Mexicana founder Jose "Pepe" Magallanes says customers have been asking for years that the restaurant he opened in 2003 add more locations to complement its existing Germantown-area presence.

Deferred Retirement Freeze Reflects Larger Police Problem

In response to a police officer shortage, the Memphis City Council on Tuesday, Aug. 18, took its first step toward approving an ordinance that would allow city employees to freeze their retirement plans.

Final Forrest Statue Vote Moves Controversy to Planning Stage

Memphis City Council members closed out a series of votes Tuesday, Aug. 18, on moving the statue and disinterring the remains of Nathan Bedford Forrest from Health Sciences Park near Downtown Memphis.

Problem Properties

Neighborhood Preservation working to remedy blight in Memphis

Memphis has a crippling issue with blight, and one nonprofit is front and center with changing the culture that led to the city’s inundation of abandoned properties and lots.

Blues Foundation Taps Newman as CEO

The Blues Foundation has selected a fourth-generation Memphian to succeed Jay Sieleman as president and CEO.

Overton Square To Host October Blues Festival

Overton Square will host a two-day blues festival in October billed as the first of its kind in the city since 1969.

Proposal Prompts Closer Look at Tax Breaks

In recent years, the tax incentives used to bring economic development and jobs to Memphis have been a lightning rod.

Less Invasive Heart Treatment Now Available in Memphis

A groundbreaking treatment that serves as a minimally invasive alternative for patients too old, sick or weak to endure open heart surgery is now being offered in Memphis.

Craft Brew Alliance Comes to Blues City Brewery

This year, some 100,000 barrels of Craft Brew Alliance products will be produced at the Blues City Brewery in South Memphis in the second year of a five-year agreement between CBA and Blues City’s parent company, City Brewing Co., out of Lacrosse, Wis.

Demo Day Brings Together Start Co., ZeroTo510 Entrepreneurs

The entrepreneurial ecosystem was more abundant than ever at Demo Day 2015, where Start Co. and ZeroTo510 worked in conjunction for the first time to present graduates of their business accelerator programs to investors and community leaders.

Memphis in May Hints of ‘Events’ to Replace Symphony

Leaders of the Memphis in May International Festival are keeping the last weekend of May open and say what takes the place of the Sunset Symphony next week will most likely be several events.

Poplar Tunes Recognized As Music Institution

Several generations of Poplar Tunes employees gathered at the former site of the Danny Thomas Boulevard store last week for an interesting moment in the long but recently ended life of an obsolete institution – a music store.

Beale Board Looks at 3-Month Window to Set Up Shop

The Beale Street Tourism Development Authority is looking at a narrow three-month window to get its lease agreement with City Hall signed and, in effect, begin its work for the city and hire some kind of day-to-day manager for the entertainment district.


MSU QB Dak Prescott Learns He Can Be a Target Off Field, Too

The recognition has come, and it has been fun and, well, not so fun.

University of Memphis Secures $24 Million for Athletic Facilities Upgrades

At a Wednesday, Aug. 19, press conference on its campus, the University of Memphis took the next step in its athletic capital campaign in announcing it had 60 percent of the needed funds for new football and men’s basketball practice facilities and that ground will be broken on each this fall.

University of Memphis Knows Time to Shine Is Now

First, there was a video because in 2015 there must always be a video.

Memphis Redbirds, Grizzlies Partner for ‘Grit & Grind Night’

The Memphis Redbirds and Memphis Grizzlies play in different sports and at different levels, but for years the people running the teams acted as though they were quasi-rivals.

College Football Notebook: Preseason Spotlight on Memphis Tigers Defense

The University of Memphis lost eight starters from a defense that played a huge role in last year’s 10-win season.

Vols Nearly Set on Offense as Season Approaches

With Tennessee’s football team three weeks into fall camp, the offensive depth charts are set at some positions, while others remain open.

Fisher, Other Familiar Faces Return for Preseason Play

The Tennessee Titans welcome back a familiar face Sunday night when Jeff Fisher rolls back into Nashville as coach of the St. Louis Rams.


Lucas Named CIO at Regional One

Jackie Lucas has joined Regional One Health as senior vice president and chief information officer. In her new role, Lucas is responsible for information technology and telecommunications for the organization.


Ballet Memphis Closes On French Quarter Suites Purchase

2144 Madison Ave., Memphis, TN 38104 -
Ballet Memphis has closed on its purchase of the French Quarter Suites in Overton Square for $4.2 million.


Leco Realty Credits Success To Hands-On Approach

Over the past 33 years, Bert Less has weathered many financial storms with his property management company Leco Realty Inc.

Knoxville Edition

The Remarkable Life of Dr. Richard Briggs

From battlefield MD to artificial heart researcher to Tennessee state senator

Richard Briggs is recognized in East Tennessee as a respected heart and lung surgeon, a one-time county commissioner and most recently an elected state senator, the Republican who defeated Stacey Campfield in 2014, ending his rather colorful tenure in the General Assembly.

‘Black Wednesday’ Inspires Commission Run

For a military man and dedicated physician, Richard Briggs has found time for a variety of pastimes and experiences with more adventure trips on the horizon.

Nashville Edition

Affordable Homes in an Unaffordable Market

Franklin, Nashville ponder rules to soften growing crisis

The gold rush of residential development throughout Middle Tennessee conceals what some in the region say is a growing crisis in affordable housing.


Poor Performance

OUR POOR KIDS ARE GETTING THE BIRD. During political seasons – that’s pretty much all the time – I’m often reminded of what my first boss once told me, “You know that beautiful, almost iridescent, blue-gray dot in the middle of chicken (crap)? That’s chicken (crap), too.”

Know When To Cut Your Losses at Work

Typically, we think of sunk cost in terms of investing or economics. It’s the concept that money or some other cost you have already lost can’t be recovered. In business, the idea of sunk cost might come in to play when a project has failed. Management eventually decides that no amount of additional work will save the project. It’s best to cut their losses and walk away while they can.

Why China Devalued: Global Oversupply

If I demand a new widget today, a supplier will build one for me. If I later change my mind, the widget will still exist. Perhaps my supplier relied on debt to fund its construction. If so, the supplier now has to find a new source of demand or they must restructure the loan.

Changing For The Better

Ray’s Take Nobody cares more about your financial well-being than you do. The good news is that handling your money is a learned behavior. The bad news is that you might be making some financial decisions that are not moving you towards your goals.

Is It Too Late?

Carole King famously sang, “[I]t’s too late, baby now, it’s too late,/ Though we really did try to make it.” Something in this song created a gluey intangible not-yet-named noun that affixed itself to my soul. When I hear the words “Somethin’ inside has died, and I can’t hide/ And I just can’t fake it,” I feel a shudder throughout my being.

The Sales Team Of The Future

Many sales managers want to be leaders, but they have trouble motivating their team to willingly follow them. While they see themselves as a leader, others don’t. What makes others willing to follow you as a leader? How can you move beyond management, and make yourself stand out?

Solving the Culture Problem at Your Company

There’s a reason “culture” was reported by Merriam-Webster to be the most popular word of the year in 2014, and we have Generation Y to thank.

Black Philanthropy Month

It’s August – that means its Black Philanthropy Month.

Equity Firms Should Leverage Innovation

On the strategy side of our business, we work with many private equity-backed companies. We get called in when the growth trajectory and investment thesis aren’t being realized as projected.

Today’s Schools Need to Operate Like Independent Businesses

“If you always do what you always did, then you always get what you always got.”

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PROPERTY SALES 90 140 15,764
MORTGAGES 100 162 18,210
BUILDING PERMITS 194 315 32,829
BANKRUPTCIES 57 116 10,129

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