As the crowd of attendees at a preview party Monday night for Broad Avenue’s newest enterprise relaxed on couches, ordered drinks at the bar, and played video games like Super Smash Bros. – several of which were projected on a 120-foot-wide wall for collective viewing – one thing was readily apparent.
26. Crosstown Crossroads - Saturday, February 14, 2015
Richard Spore and his colleague at the Memphis office of the Bass Berry & Sims law firm have worked on several ambitious, game-changing projects like the transformation of Overton Square and Bass Pro Shops’ redevelopment of The Pyramid.
27. Hillwood to Launch Two Spec Buildings in DeSoto County - Friday, November 14, 2014
A Texas-based development firm will start turning dirt soon on a massive new business park in DeSoto County.
Hillwood Investment Properties is expected to begin site work in around 30 days on Legacy Park, a 266-acre distribution and business park on the south side of Goodman Road, just east of Hacks Cross Road near Polk Lane.
28. Mississippi Payrolls Rise, Unemployment Rate Falls - Wednesday, October 22, 2014
JACKSON, Miss. (AP) — Mississippi's employers added 6,000 jobs to their payrolls in September and the state's unemployment rate fell again, although it remains the second-highest in the nation.
29. Where Should I Take My Nashville Visitors? - Saturday, October 4, 2014
Getting into the short-term rental game also means being a tour guide for Music City.
Guests will want to know where to find Nashville’s hidden gems, those can’t-miss places every visitor should be lucky enough to experience.
30. Belmont Welcomes Largest-Ever Freshman Class - Saturday, August 23, 2014
If you graduated from Belmont 20 years ago, you might not recognize the campus today.
Near ceaseless on-campus construction and a huge spike in enrollment has changed the once-sleepy little school into a major player in Nashville and in national collegiate circles.
31. Butler Sevier Law Firm Expands Downtown - Friday, February 21, 2014
Butler, Sevier, Hinsley & Reid PLLC law firm has expanded its presence at 88 Union Ave.
32. Mississippi Jobless Rate Falls as Labor Force Dips - Tuesday, August 20, 2013
JACKSON, Miss. (AP) – Mississippi's unemployment rate fell by a half percentage point to 8.5 percent in July, hitting lowest level in more than four years, but only because the state's labor force shrank.
33. Events - Saturday, April 20, 2013
Ballet Memphis will present “Wizard of Oz” Saturday, April 20, and Sunday, April 21, at The Orpheum Theatre, 203 S. Main St. Visit balletmemphis.org for tickets.
34. New Brewery on Tap for Cooper-Young - Friday, December 21, 2012
A new brewery is headed to Cooper-Young.
Memphis native and craft beer enthusiast Drew Barton plans to open Memphis Made Brewing Co. LLC at 768 S. Cooper St. near York Avenue along with two other silent partners by mid 2013. The 6,000-square-foot space is adjacent to Signworks and owned by Richard Sullivan.
35. Starbucks to Open 1,500 More Cafes in the US - Thursday, December 6, 2012
NEW YORK (AP) – Another Starbucks may soon pop up around the corner, with the world's biggest coffee company planning to add at least 1,500 cafes in the U.S. over the next five years.
The plan, which would boost the number of Starbucks cafes in the country by about 13 percent, was announced at the company's investor day in New York Wednesday. Taking into account Canada and South America, the company plans to add a total of 3,000 new cafes in its broader Americas region.
36. Rekindling Crosstown - Monday, November 5, 2012
Video artist Chris Miner says one way to explain the redevelopment of the Sears Crosstown building is likening it to the process of creating art.
“You get into it with a general idea of what you want to do, but then you kind of let it take you wherever you are going to go or wherever the piece wants to go,” he said.
37. Grassroots Effort - Thursday, October 4, 2012
Approaching the second anniversary of “New Face for an Old Broad” and the Historic Broad Avenue Business Association’s painting of its own bike lanes, the Binghampton district has seen activity increase exponentially on several fronts.
38. Berger Working on Food Truck Alliance - Friday, April 27, 2012
As if owning and operating the city’s fastest growing self-serve frozen yogurt business isn’t enough, Taylor Berger is about to add two more hospitality titles to his resume.
39. Roast Club Holds Weekend Comedy Fest - Friday, February 17, 2012
Memphis standup and improv comedy performers will come together for the first Memphis Comedy Festival Thursday, Feb. 16, through Sunday, Feb. 19. Presented by the Memphis Roast Club, the festival is at TheatreWorks, 2085 Monroe Ave.
40. Employers Add No Net Jobs in Aug.; Rate Unchanged - Tuesday, September 6, 2011
WASHINGTON (AP) – Employers stopped adding jobs in August, an alarming setback for an economy that has struggled to grow and might be at risk of another recession.
The government also reported that the unemployment rate remained at 9.1 percent. It was the weakest jobs report since September 2010.
41. New Rules to Cut Confusion on Sunscreen Claims - Wednesday, June 15, 2011
WASHINGTON (AP) – Help is on the way to consumers confused by the jumble of sun protection numbers and other claims on sunscreens.
Under new rules published Tuesday, sunscreens will have to prove they filter out both ultraviolet B rays and ultraviolet A rays to claim they protect against skin cancer.
42. Thompson to Lead Baker Donelson’s Product Liability, Mass Tort Group - Thursday, June 25, 2009
J. Carter Thompson, a shareholder at the Jackson, Miss., office of Baker, Donelson, Bearman, Caldwell & Berkowitz PC, has been chosen to head the firm-wide Product Liability and Mass Tort Group.
43. Obama Welcomes Allies, Skeptics to Health Summit - Friday, March 6, 2009
WASHINGTON (AP) - President Barack Obama summoned allies, skeptics and health care figures of all stripes to the White House Thursday to debate ideas for overhauling the nation's costly system and declared, "The status quo is the one option that is not on the table."
44. Financial Industry Weighs Impact of New Budget - Monday, March 2, 2009
What’s around the next corner for the banking industry is about to come into view.
The budget plan unveiled by President Barack Obama’s administration Thursday sheds some light on the future of the government’s controversial and seemingly opaque rescue effort for the financial system. To get an idea of the scope of the price tag thus far, the U.S. Treasury Department through the end of last week has spent more than $1.1 billion buying stock in 11 Tennessee banks from one corner of the state to the other.
That money was doled out as part of a $700 billion rescue effort that’s straddled two presidential administrations and which the Obama administration has signaled may have to be enlarged. The budget blueprint Obama officials released last week calls for setting aside a reserve of $250 billion on top of the $700 billion already allocated by Congress to the financial rescue.
“The existence of this reserve in the budget does not represent a specific request,” the budget plan said. “Rather as events warrant, the administration will work with the Congress to determine the appropriate size and shape of such efforts, and as more information becomes available the administration will define an estimate of potential costs.”
Figuring out the landscape
Local players in the banking industry are wondering what that means for them, as well as how rules for a new round of federal capital infusions into banks will affect them. The Obama administration also announced last week that it would begin “stress tests” of the nation’s largest banks to see how a prolonged economic slump will affect them and if they’ll need more capital to survive.
“Shortly before this Report was filed, the U.S. Department of the Treasury, the Federal Reserve Board, the (Federal Deposit Insurance Corp.) and the (Office of the Comptroller of the Currency) announced the initiation of a new Capital Assistance Program (CAP),” reads a regulatory filing made by Memphis-based First Horizon National Corp. Thursday. “Under the CAP, the capital needs of the major U.S. banking institutions are to be evaluated under a more challenging economic environment.
“If that assessment indicates a need for additional capital, the affected institution will be allowed to seek additional private capital and, failing that, may be required to issue mandatory convertible preferred shares to a government agency. … At this time it is not known whether the CAP applies to the Bank or the Corporation nor, if so, whether additional capital will be required or the terms upon which such additional capital may be issued.”
Meanwhile, the first part of the $700 billion shock treatment to the economy first set in motion by the Bush administration still has not run its full course. Cobbled together late last year at a time of broader upheaval in the housing market and the collapse of giant financial firms such as Lehman Brothers, the $700 billion effort was designed in part to spur banks to keep making loans to prevent a collapse of the economy.
To shore up bank balance sheets enough to do that, the government began buying preferred shares of stock in banks to give them immediate access to fresh capital. Of the $700 billion Congress approved for that effort, $250 billion was determined to be enough to cover all the money the government would send out to banks throughout the country that needed the money or could use it.
As of earlier last month, the government has finalized almost $196 billion worth of those transactions, meaning more banks have yet to get their capital boost.
More to come?
Greg Gonzales, commissioner of the Tennessee Department of Financial Institutions, told a panel of state lawmakers last month that 40 banks in Tennessee to date have applied for the federal aid, with fewer than a dozen of those applications having been accepted so far.
Tennessee’s commercial banks, which shed almost 3,000 full-time equivalent employees in 2008, collectively lost $260 million in net income last year, according to the FDIC. One Memphis-area banker said he was at a recent social function where Citigroup chief financial officer Gary Crittenden told him the economy was likely to remain in a broad slump through the end of this year, with unemployment numbers, among other things, continuing to rise.
The banking industry as a whole is thus in the process of trying to wrap its arms around new rules purportedly designed to help it regain its footing. Jackie Prester, a shareholder in the Memphis law office of Baker, Donelson, Bearman, Caldwell & Berkowitz PC, said that’s one of the biggest concerns she’s hearing right now.
“And a lot of my clients are asking me, ‘Even if we can get our arms around these new rules – and that’s tough – what assurance do we have they won’t change the rules completely next week?’” Prester said. “The biggest wildcard (I’m hearing) is, ‘What else is Congress going to legislate that makes it difficult for me as a bank to conduct business the way I normally conduct it?’”
...
45. Another Fed Rate Cut Anticipated - Wednesday, October 31, 2007
WASHINGTON (AP) - The message from Ben Bernanke and his Federal Reserve colleagues is clear: The housing slump will drag on well into next year as credit problems linger. What's not so apparent is how they'll deal with the crisis, although another interest rate cut could come this week.
46. C-USA to Boost Local Economy, But by How Much? Enough, Observers Say - Thursday, March 8, 2007
With 12 universities spread across nine states, Conference USA's footprint is as widespread as any in the country, extending from West Texas to West Virginia, from New Orleans to North Carolina.
&nb47. As Broad Avenue corridor reawakens, one property owner deepens his commitment to the neighborhood - Tuesday, January 30, 2007
580 and 584 Tillman St.
And 3000-3020 Broad Ave.
Sale Amount: $1.9 million
Sale Date: Jan. 17, 2007
48. Archived Article: Expo P2 - Thursday, October 17, 2002
By STACEY WIEDOWER Collierville expo goes for wider appeal
By STACEY WIEDOWER
The Daily News
The focus of Colliervilles annual business expo has always been just what the name implies Collierville business, said event chairman Keith Vand...
49. Archived Article: Stocks P2 - Wednesday, September 11, 2002
Stocks higher in late trading Stocks edge higher in late trading
Stocks moved a little higher in late-afternoon trading Tuesday as investors stepped cautiously amid mounting concerns ahead of the Sept. 11 commemoration.
A modest rally lo...
50. Archived Article: Comm Focus - Friday, July 20, 2001
Frayser community activists target gangs, drugs Frayser community activists target gangs, drugs By MARY DANDO The Daily News The Frayser area is showing the way in community activism as it attempts to rid its neighborhoods of drug dealers and confro...51. Archived Article: Benchmark - Thursday, December 28, 2000
EPA settles federal lawsuit EPA settles federal lawsuit with Nucor over emissions Nucor Corp. Inc. will spend nearly $100 million to settle a environmental suit alleging it failed to control the amount of pollution released from its steel factories ...52. Archived Article: Athletic Club (lead) - Tuesday, June 13, 2000
Cordova Athletic Club changes hands Athletic club changes hands By LAURIE JOHNSON The Daily News The Cordova Athletic Club is now under new ownership. DeSoto County residents Lance Moore and Charlie Wiggins have purchased the club, at 7950 Club Cent...53. Archived Article: Cavion.com Lj - Thursday, February 10, 2000
Cavion Cavion.com opens office in Nonconnah center By LAURIE JOHNSON The Daily News Cavion.com, a Denver, Colo.-based Internet online banking company, has opened an office in Memphis. The company has signed a lease with Trammell Crow Co. for space i...54. Archived Article: Benchmark - Thursday, August 26, 1999
Home - Yahoo Case argues Americans with Disabilities Act should apply to cruise ships Although a federal district judge in Miami ruled the Americans With Disabilities Act doesnt apply to foreign flag cruise ships the bulk of ships visiting U.S. port...55. Archived Article: Real Fcs (realtors) Lj - Tuesday, April 13, 1999
By LAURIE JOHNSON The realities of real estate Want a career in real estate? For those with stamina and the right attitude, an agents life can be a rewarding one By LAURIE JOHNSON The Daily News It inevitably happens from time to time in almost ever...56. Archived Article: Filler - Thursday, April 10, 1997
Partnership launches restoration initiative Partnership launches restoration initiative A Ducks Unlimited partnership that includes the non-profit conservation organization and federal and state agencies has launched an initiative to restore 10,000 ...