VOL. TMN-6 | NO. 44 | Saturday, October 26, 2013
Memphis Grizzlies continue working way into city’s DNA
In 2007, the Grizzlies were no longer a novelty in Memphis. They also were no longer a playoff team. Rather, they were a punch line lost in the expansive blue and gray shadow of the University of Memphis and a fast-talking operator/coach named John Calipari.
Think of this as a game that two people want to play with each other but not let anyone else intrude upon, especially those most affected by the game.
EMPHASIS Public Companies
Memphis’ Fortune 500 companies chart paths forward
The pressure to show investors growth and a return is one of the most basic realities of operating as a public company.
When the economy took a swan dive five years ago, many companies found themselves on the bargain basement rack.
Tennessee’s corporate boards are showing slow growth in gender diversity levels, although rankings are still among the lowest in the nation, according to the latest findings of an annual study.
Here’s a snapshot of the recent performance of some of Memphis’ publicly traded companies – businesses that cast a shadow far beyond the Memphis city limits in industries including finance, package delivery and bioscience.
THE MEMPHIS NEWS ALMANAC
1993: Exhibition NBA game at The Pyramid between the world champion Chicago Bulls, featuring Michael Jordan and Scottie Pippen, and the Washington Bullets.
Haunted houses highlight another spooky season
Although his official title is owner and operator of Hauntedweb of Horrors in Cordova, Patrick French’s friends and colleagues call him The Haunt Master.
Business licenses filed with the Shelby County Clerk’s Office in the third quarter rose nearly 5 percent over third quarter 2012, and increased even more compared to the second quarter this year, according to The Daily News Online, www.memphisdailynews.com.
The Memphis-based parent company of the largest bank based in Tennessee swung to a third quarter loss, with a $200 million addition to its mortgage repurchase reserve contributing to a loss for the quarter of $107.5 million.
Controversy continues to swirl around the new medical device excise tax that went into effect on Jan. 1.
Memphis City Council member Janis Fullilove pushed hard for $1.5 million in city funding for the renovation of Southbrook Mall in Whitehaven.
Shelby County Schools superintendent Dorsey Hopson says it is looking less likely that the school system will provide support services to the new suburban school districts.
RiverArtsFest brings broad spectrum of works to South Main
Bonnie Thornton has a mission at this year’s RiverArtsFest that goes beyond her role as director of the festival’s Artist Market: she’s helping a fledgling art collector get his start.
This month Catholic Charities of West Tennessee launches a new program called St. Sebastian Veteran Services to provide critical assistance to homeless veterans and their families and to those facing imminent eviction or foreclosure.
The new $13.5 million four-story residence hall at LeMoyne-Owen College that formally opened Friday, Oct. 18, is the latest symbol of growth on the campus of the city’s only historically black college since 2006.
Memphis attorneys John Ryder and Gary Smith both think it is a bad idea to have contested elections for state appeals court judges.
When the school year began in August, Richland Elementary School principal Sharon McNary gave her teachers plastic action figures that could stretch.
This year’s Indie Memphis Film Festival will again offer a slate of programming tied to the concept of innovation and include guest speakers such as the president of the multimedia news organization The Onion, as well as presentations that complement the festival’s film offerings.
Patience, persistence pay off as Pidgeon nears capacity
Frank C. Pidgeon Industrial Park was completed in 1967, but it’s only now, four-plus decades later, that the property is finally realizing its full potential.
It was the issue that didn’t get a lot of public discussion in the initial move to form suburban school districts in Shelby County.
Baptist Memorial Health Care and Christ Community Health Services rolled out a new state-of-the-art mobile health clinic earlier this month, and the larger, modernized vehicle will give Baptist Operation Outreach the ability to treat more of the area’s homeless population in need of medical care.
A national music conference is headed to Memphis, bringing a variety of leaders in education and fundraising, plus youth groups and music teachers, to the Westin Memphis Beale Street Hotel and Minglewood Hall for a concert and master class.
A trio of Memphis City Council members weighing possible changes to the council’s way of conducting business has more questions at the outset than answers about what kind of conduct is allowed and what shouldn’t be on the elected body.
Memphis-based International Paper Co. reported third quarter net earnings of $382 million, an increase of $145 million, or 38 percent, from the third quarter 2012 net earnings of $259 million.
MATA again tries express route with Whitehaven Flyer
Downtown to Whitehaven on a city bus in a half hour is quite an achievement in a city with limited experience with modern bus express service.
The Shops at Chickasaw Gardens, on Polar Avenue near the Benjamin L. Hooks Central Library, has seen good leasing activity recently.
The results of the second Memphis Economic Indicator, a new survey measuring general business sentiment jointly produced by The Daily News and Dixon Hughes Goodman LLP, reflect a modest overall improvement in optimism among business leaders compared to last quarter’s survey results.
Jennifer Ho said she views her job as a senior adviser to U.S. Housing and Urban Development Secretary Shaun Donovan as looking at the problem of homelessness like a jigsaw puzzle.
When banks pass the hat, rounding up new capital from investors to finance future growth, it tends to be a sign those banks believe the economy is getting better.
Participants in Saturday’s Komen Memphis-MidSouth Race for the Cure will see some significant changes this year.
With a few amendments by the Memphis-Shelby County Board of Adjustment Wednesday, Oct. 23, the new Midtown Kroger supermarket rolled out of the planning and zoning process and into preparation for demolition of the old Belvedere apartments building and construction of the new store.
The Southeastern Conference’s dominance is well known – seven consecutive national championships, the last two by Alabama. That dominance also has had depth. Last season, the SEC had six of the top 10 teams in the final Bowl Championship Series (BCS) standings.
From 2002-2006, the St. Louis Cardinals had a farm director named Bruce Manno. He was a guy who had his own ideas on how things should be done. One of them was to require that all Cardinal minor-league players – from Rookie ball to Triple-A Memphis – wear their pants pulled up to their knees so their stirrup socks would show.
The Mad Hatter is not happy. LSU coach Les Miles spent his offseason complaining at the crossover schedule his team got – tough – and the crossover schedule Alabama got – not so tough.
Paperless office. It’s a phrase to strike fear in the heart of any office supply provider.
REAL ESTATE RECAP
255 Dr. Martin Luther King Jr. Memphis, TN 38104, Sale Amount: $3.2 million -
Campbell Clinic has paid $3.2 million for the Midtown Surgery Center at 255 Dr. Martin Luther King Jr. Ave.
Richard L. Fisher has joined the Chickasaw Council of the Boy Scouts of America as chief executive officer. In his new role, Fisher will extend character development and leadership skills to youth who live in the Chickasaw Council territory, which includes the Mississippi Delta, Memphis, and Shelby and Crittenden counties.
MEMPHIS LAW TALK
Attorney Cameron Jehl has ventured out on his own, opening the Jehl Law Group PLLC at 60 S. Main St. in Downtown.
Mike Garrard has popped the top on a new career as executive director of the Silvercreek Senior Living Center in Olive Branch.
A few weeks ago we attended the FedEx Institute of Technology’s Innovation Expo to hear Philip Mudd, formally of the CIA and FBI, speak about risk, and A.G. Lafley, CEO of Procter & Gamble, discuss product development and market strategy. We will share with you their messages in our next two columns, as both had unique insight on strategy.
It is often said that good leaders inspire others to have confidence in their leadership. Great leaders inspire others to have confidence in themselves. This is exactly what the great leaders who have been a part of Leadership Memphis for the past thirty-five years have done; encourage the greatness in the emerging leadership in Memphis.
The first 16 days of October were a demonstration of “governing by crisis.” The federal government was shut down, hundreds of thousands of government employees were furloughed; small businesses, nonprofits, and individuals were impacted in ways big and small; and the business of governing was brought to a standstill because Congress could not pass a budget.
Phase II of substantial improvements are about to begin on the Interstate 40/240 interchange in East Memphis that will address the expected traffic increase in this area for decades to come. The average daily traffic (ADT) on I-40 has grown from 49,000 vehicles in 1985 to about 200,000 vehicles a day in 2013. By 2035, projections show the interchange could be handling well over 350,000 vehicles.
Ask a sales rep for the No. 1 objection they face with prospects and more often than not, they’ll say that it’s price. Given the state of our economy over the last several years, price can certainly be a legitimate concern. Often, however, a price objection is merely habit – the tendency of the buyer to attempt to negotiate before making any purchase. Or it may actually be another objection, one that’s more personal or revealing, in disguise. For example, a prospect might cite financial concerns to mask the fact that they have to consult with the real decision maker, which they failed to share with you upfront.
Medical research faces an interesting conundrum. Certain medical breakthroughs offer tremendous potential for detecting and treating various diseases, which can provide monetary returns mostly through related pharmaceuticals, analytical tests and medical procedures.
Last week, the keystone cops in Washington signed yet another procrastination resolution to our festering debt and deficit issues. No matter. The market rallied into our fiscal D-Day and right after it to new all-time highs. Why? While the volume of reporting on the debt ceiling has grown substantially, the event itself is old news. Congress has raised the debt ceiling 45 times since the late 1970s. The debt level reached within 2 percent of the ceiling 37 of those times.
Ray’s Take Studies claim 70 percent of Americans are a mere three weeks from being unable to pay household bills – largely because they live paycheck-to-paycheck with little to no reserves to fall back on if anything out of the ordinary happens. This is not just at the lower income strata. It includes high earners too.
Harassing phone calls. What other term would fit? For months now – over a year, for sure, two years perhaps – at home, on our land line, we receive up to a dozen nuisance calls per week. This in addition to the unwanted marketing calls. Far more, really, than we ever received before the appearance a few years ago of the Do Not Call List. Or whatever it was called.