VOL. TMN-9 | NO. 38 | Saturday, September 17, 2016
Memphis hoteliers enjoying strong performance, healthy development pipeline
The Memphis area hotel market continues on its solid run of the past few years, led by the Downtown submarket with strong occupancy and room rates. The pipeline for new Downtown hotel projects is loaded, with as many as 15 projects in various stages of development and hotel construction picking up in other parts of the county.
Sometime before fall arrives by the calendar, nine people – six children and three adults – will be eulogized and buried. A seventh child was removed from life support this week and will be allowed to die.
ARTS & ENTERTAINMENT
Three years after the Memphis Brooks Museum of Art and four other art institutions in the city mounted a major retrospective exhibition on Memphis artist Carroll Cloar, the Brooks is opening a permanent exhibit space dedicated to Cloar’s work.
EMPHASIS Financial Services
After a decade of acquisitions and renovations of existing branches, Memphis-based First Tennessee Bank has opened its first new West Tennessee branch in Arlington.
Mike Frick has hit the decade mark this year in his role as Memphis market president for Bank of America.
What, a prospective client might fairly wonder, is a Memphis-based business advisory group doing with the name SEACAP Financial? Don’t they realize their nearest shore is beside the Mississippi River?
ALSAC president and CEO Rick Shadyac served as honorary duckmaster at The Peabody’s 147th anniversary celebration this week, where he was also inducted into the Duck Walk Hall of Fame. At the ceremony, Peabody Hotels & Resorts president Doug Browne announced a campaign to raise $1 million for St. Jude through various means.
THE MEMPHIS NEWS ALMANAC
1976: Solomon Alfred, described in The Daily News “Dining Out” column as a “restaurant, club and pinball emporium” has been open since May on the northeast corner of Madison and Cooper in Overton Square. It is owned by The Grove Inc., a Little Rock-based corporation.
St. Jude Children’s Research Hospital is another step closer to launching its new on-campus biomedical sciences graduate school, with the window for applications from potential students now open.
Annually it’s the third-leading killer worldwide behind only behind cancer and heart attacks.
Memphis Police Director Michael Rallings says his department’s response to protests has to keep a national perspective on terrorism as well as the potential for violence.
Bankers like Scott Stafford are watching for the Federal Reserve to raise interest rates soon and, at least for the moment, expect the usual mortgage market cool-down heading towards the end of the year.
REAL ESTATE & DEVELOPMENT
After a two-month slump, home sales in Shelby County increased 15 percent in August.
On a hot day in South Memphis, Charles E. Blake, the presiding Bishop of the Memphis-based Church of God in Christ looked through several chain link fences onto open land on both sides of Mason Street – the street named for COGIC founder Charles Mason – and said, “We’ve got space to grow – room to grow.”
The city of Germantown has taken a first step toward the purchase of a little more than 30 acres of land for a new school.
A 450-seat theater on the Crosstown Concourse campus will attract national acts and boost the local arts scene.
Malone Distribution Park -
Three industrial properties in southeast Shelby County have sold for $9.6 million.
Lori Kirkpatrick has joined Cushman & Wakefield/Commercial Advisors as chief financial officer. In this role, Kirkpatrick oversees all finance and accounting functions at the commercial real estate services firm, including lease administration services provided to clients.
As his students listened to presentations on everything from soil testing and diagnostic solutions to plot research and biogenetics to agricultural sales and service, Carol Mason wiped the sweat from his brow and said that standing in a filed at Agricenter International was to step foot into an different world.
TRANSPORTATION & LOGISTICS
The Memphis Area Transit Authority could add as many as 35 new buses to its fleet, which would reduce its high rate for road failure and maintenance costs.
When Roblin Webb graduated from Rhodes College with an urban studies major, she knew she wanted to make a difference, and working as a civil rights lawyer seemed like the right way to do it. So she headed to law school and grad school at Rutgers, in New Jersey, then came back to Memphis and got a job at a law firm.
The Community Foundation of Greater Memphis is putting up $300,000 to measure the results of five local nonprofits offering after-school and summer education programs for children.
Crosstown High School, which was a finalist for one of several $10 million high school grants awarded by the XQ Super School Project, was not among the 10 schools to receive a grant from the national school-reform group Wednesday, Sept. 14.
The second quarter has not been kind to retail stocks. Among almost 90 percent of retail companies that reported second-quarter earnings as of Aug. 24, just 3.9 percent surpassed estimates, according to Zacks Investment Research, and barely 4 percent posted higher year-over-year revenue.
Second- and third-tier retail markets are seeing a resurgence nationally, and Memphis’ own economic recovery is garnering attention from out-of-town retailers.
Fifteen years ago, the Memphis Grizzlies were about to start their first season as the city’s NBA team. The run-up to the season had been bumpy with next-door neighbors displaying “NBA NOW” and “NBA NO” signs. The latter were first created with a little editing to the “NBA NOW” signs as the “w” was erased or covered over.
When he was growing up in South Central Los Angeles, a young David Fizdale couldn’t imagine that he would one day be in Memphis or an NBA head coach.
Tennessee football returns to normalcy this week, if you call a noon EDT kickoff normal.
By most accounts, the Tennessee Titans won the offseason thanks to a strong draft and some smart moves in free agency.
Being an offensive or defensive coordinator can be a thankless job.
The University of Memphis will open its 2016-17 American Athletic Conference schedule on Tuesday, Dec. 27, when SMU comes to FedExForum and will finish the season on Saturday, March 4, at SMU.
On the plus side, the University of Memphis was not upset and the 35-17 victory over Southeast Missouri State was never in doubt. There was never that moment when one feared this would become what happened to Mississippi State (losing to South Alabama the opening weekend) or almost happened to Tennessee (pushed to overtime by Appalachian State).
THE TIPPING POINT
Sridhar Sunkara knows the challenges that small-business owners face. He is one.
MEMPHIS BY THE BITE. Presenting the sixth serving of the Tasteful List, updated for 2016 – alphabetical local favorites in one decidedly local man’s opinion – the only things easy to swallow in an election year.
Ray’s Take At varying levels, most of us acknowledge that retirement planning is something that deserves some consideration. The challenge comes in the midst of day-to-day problems and distractions. We can lose focus or may not have a good grasp of what our focus is. It makes an often-difficult task even harder.
There are a lot of common words and phrases in which back is an integral part. And many of them have significant application in the autumn of the year.
State Rep. Ron Travis is perplexed.
By rule it doesn’t rain in the desert. It can’t rain in the desert, right?
Loyalty can feel like a lost art. It’s often hard to know where alliances lie and who really has your back. Sadly, this can be especially true in the workplace.
It’s not too soon to start thinking about how you’re going to make 2017 a success for your company. Here are four areas that are essential to the sales and marketing performance of your business.
If you’ve ever managed or owned a business, you know that the workforce is one of any company’s biggest expenses. But your workforce can also be one of the biggest opportunities. Satisfied employees work longer and harder, and great employees are great for business. But how do you keep employees happy while maintaining a healthy bottom line?
If you want to create a high-growth company or transform a slow- or flat-growth organization into a category-dominating leader, you cannot manage this type of growth with an MBA-styled leader who wants to function like a strategic CFO by mainly cutting costs and managing profit and loss.
We know you want to meet your fundraising goals. We also know some readers may be anxious wondering, “How will the calendar year end? Will we be in the red or in the black come Dec. 31?” While we don’t have a magic wand, we do want to suggest two aspects of fundraising management you should keep an eye on.