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VOL. TMN-7 | NO. 38 | Saturday, September 13, 2014
Weekly Issue

Power Play

TVA switching Allen Fossil Plant from coal to natural gas

When the Tennessee Valley Authority board voted in August to build a new power plant in Southwest Memphis, it was a decision based on factors larger than the power needs in Memphis.

Editorial: Same Old Response Still Not Working

We need a new response to an old problem in our city.

EMPHASIS Financial Services

Legacy Building

Financial planning and portfolio management firm grows, launches seminar

2014 is shaping up to be a banner year for Legacy Wealth Management, an independent financial planning and portfolio management firm that’s moved into a prominent new space, continued staffing up over the last several months and is preparing to launch a seminar series.

Memphis Banks Expanding Without Actually Moving

In banking, growth and expansion don’t have to mean scouting other cities and markets for ideal spots on which to set up new brick-and-mortar locations.

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EVENTS

The fourth annual Downtown Museum Day will be held Saturday, Sept. 13, with free or half-price admission at 15 local museums and attractions. For more information on participating attractions, visit facebook.com/downtownmuseumday.

more events »

Sharpe, HealthNet Find Success in Changing Industry

As banking has changed in recent years, it’s caused consumers to take another look at the conventional wisdom – including coming to the realization that banking is not limited to, well, banks.

THE MEMPHIS NEWS ALMANAC

This week in Memphis history: September 12-18

2004: Usher at FedExForum, the first show at the new arena followed days later by Alan Jackson and Martin McBride.

Authors, Readers Converge for Book Festival

Earlier this year, interest in the first Mid-South Book Festival, scheduled to take place later this month, began to reach what seemed like a fever pitch, according to Literacy Mid-South executive director Kevin Dean.

Pain Treatment Center to Open Second Locale

Comprehensive Pain Specialists, a national player in the field of medical pain treatment centers from Nashville, has signed a lease for 4,713 square feet in Healthcare Realty Trust’s building at 8000 Wolf River Blvd.

Council Bogs Down in Health Insurance Numbers

When Memphis City Council members meet Tuesday, Sept. 16, they will still be considering alternatives to the health care insurance plan changes they approved in June.

Education Secretary Calls for System-Wide Reforms

U.S. Education Secretary Arne Duncan saw much that he liked in Memphis Wednesday, Sept. 10, at the end of his three-day “back to school” bus tour of schools in three states.

Heart Foundation’s Novick Prepares for Ukraine Work

Dr. William Novick isn’t real big on taking orders – especially from his doctors. Four weeks ago, he had his second hip replacement surgery since the first of the year.

Going Home

MAAR story gets new start with updated headquarters

Steve Brown, Crye-Leike Realtors Inc. Memphis general manager, and other Realtors remember a time when the headquarters for the Memphis Area Association of Realtors had a bank of telephones along a wall that Realtors in the field flocked to in order to check in with the office.

Start Co. Post-Acceleration Efforts Help Startups

Graduation from a Start Co. startup accelerator and making a pitch to investors at the organization’s “Demo Day” is no longer the last stage to cross before entrepreneurs head out into the wild to sink or swim.

‘Love Mob’ Responds to Poplar Plaza Attack

The amount of traffic that comes through the intersection of Highland Street and Poplar Avenue has made it a favorite of causes through the years – from war protestors and advocates to those on both sides of the death penalty, and, more recently, city employees upset over benefit changes.

Shelby County Mortgage Market Down 19 Percent in August

BankTennessee president and CEO Jim Rout sees new home sales and resales “fairly steady” at the moment.

Sara Kyle Claims Democratic Senate Nomination

Tennessee Democratic Party chairman Roy Herron came to Memphis Monday, Sept. 8, armed with 77 Bible verses on unity to use as Shelby County Democrats gathered to pick their nominee in a November special general election for state Senate District 30.

Ford Chairmanship Continues Commission Tumult

The Democratic Shelby County commissioner considered a swing vote on controversial items during his first term on the commission won the chairmanship of the body Monday, Sept. 8, for the next year in a decidedly non-party line vote – at least in terms of those in his own party voting for him.

City Leaders Face Mixed Reaction to Poplar Plaza Attack

Memphis police had arrested and charged 11 juveniles by the end of the day Monday, Sept. 8, in the mob attack Saturday at the Poplar Plaza shopping center.

Fueling Film

Nonprofit gearing up to launch film accelerator program

FuelFilm, a nonprofit that wants to serve as a launch pad of sorts for independent filmmakers and to kick the Memphis film industry up a notch, is ready for its close-up.

Kyle Gets Democratic State Senate Nod

Shelby County Democratic Party leaders chose former Public Service Commissioner and Tennessee Regulatory Authority Commission Sara Kyle Monday, Sept. 8, as the Democratic nominee for State Senate District 30.

Big River Distilling to Start Production Next Month

A group of founders with long-standing family ties to Memphis, including sons of FedEx founder Fred Smith, is in the process of launching Big River Distilling Co. LLC, a local vodka distillery which will start production next month.

Hodges Pleads Guilty to Bribery

Former Millington Mayor Richard Hodges pleaded guilty Monday, Sept. 8, to one count of facilitation of bribery.

Bloodworth: Greenways Increasing Residential Values

The Memphis region’s existing 50 miles of greenways, paths and trails are responsible for some increase in property values, particularly residential property, says Rusty Bloodworth, vice president of Boyle Investment Co. and past chairman of the Urban Land Institute’s Memphis chapter.

Shelby County Home Sales Down 28 Percent in August

Shelby County home sales plummeted in August when compared to the same month last year. Realtors sold 1,235 homes in Shelby County in August, down a staggering 28 percent from 1,705 home sales in August 2013, according to real estate information company Chandler Reports, chandlerreports.com.

Safe House

Grace House gives women chance at happy stories

She talks about the bad old days easily now. That’s what years of steady sobriety will do. For the last three-plus years, Amy Phillips, 54, has worked as a program coordinator at Grace House of Memphis, a recovery program for women with alcohol and/or drug problems and, in many cases, co-occurring mental health disorders.

Crosby Stresses Importance of Company Culture

Dr. Scott Morris opens every meeting at the Church Health Center, the innovative Memphis-based health care organization he founded, with a prayer and a story.

Democrats Choose State Senate Nominee

When Shelby County Democratic Party leaders gather Monday, Sept. 8, to pick their party’s nominee in the November special general election for state Senate District 30, it will also be an indication of how deep the wounds run from the party’s disastrous August election outing.

Peabody Marks 145th Anniversary

The Peabody hotel marked its 145th anniversary Thursday, Sept. 4, on several fronts. There was a nod to the original Peabody location at Main Street and Monroe Avenue. Meanwhile, the Memphis Symphony Orchestra played big band-era melodies on the mezzanine, and Jason D. Williams took over the piano in the lobby of the present-day landmark on Union Avenue between Second and Third streets.

Regional Airlines Not Sharing in Majors' Success

DALLAS (AP) – For passengers traveling between smaller cities and large hub airports, the ticket may say Delta, American or United, but they're likely flying on a regional airline whose planes are painted in the major carrier's colors.

SPORTS

Cardinals Finding Way Back to Playoffs

Everyone always says the expectations are highest in their clubhouse. But when the St. Louis Cardinals say it, well, it has a certain depth. The past decade has seen seven playoff trips and two World Series championships. And this season, the Cardinals are hunting their fourth straight Red October.

Wade: NFL Has Addiction Problem

Wading in with thoughts on several topics … So a former FBI director will investigate how the NFL handled evidence in the Ray Rice domestic violence case – the tape that commissioner Roger Goodell says he never saw until recently – and here’s what I wonder about the state of our society:

‘Swamp Rat’ Remembers Last Tennessee-Oklahoma Game

University of Tennessee quarterback Dewey “Swamp Rat” Warren stood on the field during a timeout with a few seconds left in the Jan. 1, 1968 Orange Bowl.

Young Volunteers Face Long Odds at Oklahoma

Two games into the 2014 season, and it’s time for the University of Tennessee to play some big-boy football.

Titans Buying What New Coaches Selling

NASHVILLE – The Tennessee Titans did what few believed they could do when they went into Kansas City and dominated the Chiefs on Sunday.

NEWSMAKERS

Lee Joins MOGA’s DeSoto Office

Dr. Daniel Lee has joined the DeSoto office of Memphis Obstetrics & Gynecological Association PC. Lee provides comprehensive women’s health services, including office gynecology, obstetrics and surgical management, to women of all ages.

REAL ESTATE RECAP

Walnut Hill Apartments Sells for $28 Million

8920 Walnut Grove Road, Cordova, TN 38018, Sale Amount: $27.9 million -
The 324-unit Walnut Hill Apartments in Cordova has sold for $27.9 million to an entity affiliated with Philadelphia-based RAIT Financial Trust.

SMALL BUSINESS

Trio of Entrepreneurs Reimagines Furniture in Broad Strokes

Broad Avenue continues to be a haven for businesses with character, restaurants, art ventures and entrepreneurs who fit neatly into one of the city’s burgeoning cultural scenes.

LOCAL COLUMNISTS

At the Counter

THE COLLEGE INN, FULL CIRCLE. The future was in my hands. My parents had set me free and I sat there all by myself for the very first time, my own stool at the counter, my own menu in front of me and a cool new show on the TV above. It was 1957. I was eight. The show was Perry Mason. And I was in control.

Door Opener or Doorstop

When I talk with millennials who have recently graduated from college, one thing is clear: They’re struggling to figure out what exactly to do next.

Seniors and Student Loan Co-Signatures – Should You?

Ray’s take: Your grandchild has been accepted to his or her college of choice. Great news! But now that the celebration of acceptance is over, it’s time to do a realistic budget and figure out where the money will come from to pay for tuition and all the other expenses associated with attending college.

Late Pass

A football spirals in slow motion across the Texas sky. The state championship hangs in the balance. Spoiler alert: If you’ve not watched “Friday Night Lights,” go watch it – all 76 episodes – and then return.

Woeful Period for US Markets

September 8, 2014, S&P 2000 = 11 + 4 percent + 11 percent + 1.5 percent + 2.5 percent. The last five years have been consistently wonderful for the U.S. markets. Over the time period, the S&P 500 has advanced more than 17 percent annually. Only four bull markets (advances uninterrupted by a 20 percent decline) have lasted longer and returned more. What has this bull been eating?

Three Secrets to Closing More Business

Considering how hard salespeople have to work to land a meeting with a prospective customer, it’s surprising how little effort is typically put into the follow-up with that prospect after the meeting. The result is a lost opportunity and the need to work harder than necessary to meet sales targets.

The Best Education Comes When Traveling

Proponents of formal classroom education, the following message might not be for you.

5 Fundraising Job Considerations

The possibility of a new position as a fund development or fundraising professional brings excitement and anticipation. A new position could mean the opportunity to “finally” put one’s professional skills to use. Maybe with a new position there will be greater opportunities to implement best practices and to meet – or even exceed – goals.

10 Secrets to Easy Business Marketing

We’re the best kept secret in town! I have heard it more than a few times when someone is describing their business, their institution or services. It’s almost bragging rights to be a secret.

Regenerate Corporate Cultures

What’s good for the bee is good for the hive. Marcus Aurelius noted that "If a thing is not good for the hive, it is not good for the bee.” This statement has profound implications for corporate cultures. In a workplace setting, anything that keeps a culture from dynamically regenerating itself is harmful to its people.

TENNESSEE LEDGER

Coverage Gap Leaves Rural Tennessee Hospitals on Life Support

Four rural hospitals have closed and dozens are at risk of shuttering: That’s the fallout, some say, from Gov. Bill Haslam’s decision not to join the Affordable Care Act in 2013 and tap into millions in promised federal funds for Tennessee’s financially-strapped health care institutions.

Unintended Consequences: ER Visits Increase

Hospital officials have been pushing for the state to expand Medicaid health care coverage for thousands of Tennessee’s poorest citizens, despite two significant and related concerns:

Asking for Moon Might Leave You Grounded

There were 3,226 closings in August, Greater Nashville Association of Realtors numbers show, up 4.6 percent from last August. It could have increased 24.6 percent if there were more listings.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 344 19,573
MORTGAGES 110 422 22,914
FORECLOSURE NOTICES 2 8,305 8,305
BUILDING PERMITS 207 838 40,029
BANKRUPTCIES 60 356 13,104
BUSINESS LICENSES 21 194 6,137
UTILITY CONNECTIONS 30 147 12,996
MARRIAGE LICENSES 15 65 4,842

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