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VOL. TMN-8 | NO. 19 | Saturday, May 2, 2015
Weekly Issue
SPECIAL EDITION Securities & Investments

Economic Microscope

Century Wealth's Jay Healy puts Memphis economy in perspective

Back in 2012, Century Wealth Management president and founder Jay Healy was telling the firm’s clients that the U.S. stock market was behaving like a coiled spring.

Avondale Partners Expands Into Memphis

Avondale Partners, a Nashville-based boutique investment banking and wealth management firm, has opened a new office in Germantown with John Santi heading up the location as managing director.

AutoZone Executives Talk Up Growth Prospects

AutoZone chairman, president and CEO Bill Rhodes doesn’t often participate in investor roadshows.

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QUARTERLY SNAPSHOT

Quarterly Economic Data Shows Improvement

Based on several metrics related to the local economy in the first quarter, there would appear to be plenty of data to back up the optimism real estate professionals like Tommie Criswell, broker-manager for Crye-Leike’s East Memphis office, say they feel at the moment.

Real Estate Industry Emerges From Frigid Winter With High Hopes

Overall home sales in Shelby County were essentially flat in the first quarter while homebuilding activity increased, despite arctic temperatures in February and March that could have put the residential real estate sector in the deep freeze.

Memphis Economic Indicator Provides Snapshot of Sentiment

The latest Memphis Economic Indicator, a quarterly survey measuring general business sentiment, reflects a local economy heading into the second quarter with pockets of strength as well as headwinds to push through.

Trolley Bells Adjusted After Complaints

When the Memphis Area Transit Authority decided to put shuttle buses on Main Street in April to substitute for the sidelined trolley fleet there was a problem. And the solution has since become a problem as well.

Editorial: Baltimore's Trauma Should Give Memphis Pause

All around us in Memphis this season are signs of new life and promise. The view offered from the top of The Pyramid this week shows a city in bloom with lots to offer.

THE MEMPHIS NEWS ALMANAC

May 1-7: This week in Memphis history

2014: Princes William and Harry arrive in Memphis to attend the wedding of Guy Pelli and Lizzy Wilson at the Memphis Hunt & Polo Club. The two princes and the rest of the wedding party have dinner at the Rendezvous as the Memphis Grizzlies and Oklahoma City Thunder play at FedExForum – game six of seven in the playoff series – on the eve of the Beale Street Music Festival.

Pyramid Promises

Bass Pro Shops’ grand opening fulfills vow made 25 years ago

It took about 25 years for an elevator ride to reach the top of The Pyramid.

Norris Says TennCare Review ‘Essential’

The majority leader of the Tennessee State Senate says the legislature is not done with a proposed expansion of Medicaid.

Shelby County Commercial Sales Revenue Surges in First Quarter

The number of commercial sales in Shelby County dipped in the first quarter when compared to last year but the average sale amount and total sales revenue surged ahead of 2014 levels, according to real estate information company Chandler Reports.

Students Raise Funds for Nepal Earthquake Relief

Bishwas Shrestha, a graduate research assistant at the University of Tennessee Health Science Center, got a call from a friend late last Saturday night bearing bad news.

Carnival Memphis Set to Honor Legal Heavyweights at Salute Luncheon

Carnival Memphis will bring together leaders in the Mid-South legal industry for its Business and Industry Salute on May 5.

Day to Day

Today’s ‘buzz’ is tomorrow’s ‘not enough’ for functioning alcoholics

For years, she was a “social drinker.” She could have two glasses of wine or the clichéd “a couple of beers,” and stop. No problem.

Pinnacle Financial of Nashville Acquires Magna Bank of Memphis

When it comes to their newly announced entry into Memphis via an acquisition of Magna Bank, the Nashville leadership of Pinnacle Financial Partners is already thinking big – on everything from workforce to services offered to the bank’s eventual size here.

Project on South Front Moves Closer to Launch

Developers are inching closer to launching a mixed-use project on a strategic corner of South Front Street Downtown.

Flinn Resigns Council Seat To Join Chamber

Memphis City Council member Shea Flinn has resigned effective immediately from the council seat he has held since 2007 to take a job with the Greater Memphis Chamber.

International Paper Reports ‘Solid’ First Quarter

International Paper Co. reported net earnings of $313 million for the first quarter of 2015.

Midtown Momentum

Kroger, citing progress in Midtown, buys Washington Bottoms property

Kroger Co., buoyed by the Crosstown Concourse development and increased investment in Midtown as a whole, has purchased properties associated with the long-dormant Washington Bottoms project at Poplar Avenue and Cleveland Street.

Stringfellow Taking Memphis Back to the Basics

Alex Stringfellow believes it’s time for Memphis to get back to basics.

Doctors Embrace New Heart Failure Monitoring Device

A recent procedure performed at Methodist Le Bonheur Germantown Hospital by three Sutherland Cardiology Clinic doctors reflects the ongoing search for new technology that can help heart failure patients lead longer, fulfilling lives.

ServiceMaster Ups First-Quarter Earnings

Memphis-based ServiceMaster Global Holdings Inc. posted first-quarter earnings of $28 million, the company reported Tuesday, April 28.

Shelby County Gets Two Summer Jobs Programs

Shelby County Commissioners have created their own two-month summer jobs program for 65 teenagers and college-aged adults and voted Monday, April 27, to fund it over two summers with $169,127 from the commission’s contingency fund.

Small Change

Ioby boosts funds to help Memphis grassroots initiatives

When ioby, a crowd-funding platform for stimulating community change, partnered with Livable Memphis to launch its “discover ioby” initiative in February, it expected to provide $50,000 in matching funds to about 20 solid projects.

Mayoral Contenders Define Campaign Differences

The first campaign forum in the city election season for the still-forming field of mayoral contenders showed a theme that looks set in stone at this early stage: very different views of Memphis’ present and how that influences its future.

Methodist Unveils Renovated Outpatient Diagnostic Center

Part of the motivation behind the extensive renovation of the Outpatient Diagnostic and Mammography Center at Methodist North Hospital, which has been in the planning stage for some two years, is an understanding of how patients might feel intimidated by some of the tests performed there.

AutoZone Executives Talk Up Growth Prospects

AutoZone chairman, president and CEO Bill Rhodes doesn’t often participate in investor roadshows.

Wharton on State ‘Blueprint’ Funding, Mud Island Plan

Memphis Mayor A C Wharton Jr. wants to bring state funding to the table when he takes his “Blueprint for Prosperity” to the Memphis City Council and others.

SPORTS

Without Conley, Grizzlies Use Team Effort to Take Out Portland

Zach Randolph scored the first six points of the game – “throw it to the hand” being an immediate and excellent choice.

With or Without Conley, Grizz Face Pass-Fail Exam in Golden State

We will get to the looming challenge that is the Golden State Warriors in just a moment.

No Stanley Cup Delusions for Knoxville’s Ice Bears

As the NHL playoffs heat up, the Southern Professional Hockey League is done for another season.

NEWSMAKERS

Rieger Begins Work at Memphis Chamber

Tom Rieger recently joined the Greater Memphis Chamber as senior vice president of member development, a role in which he will oversee major fundraising activities, conduct membership drive campaigns and implement revenue enhancement opportunities.

REAL ESTATE RECAP

University of Memphis Foundation Applies for $1 Million Building Permit

1115 E. Getwell Loop, Memphis, TN 38111, Permit Amount: $1 million -
A Memphis investor has acquired a Memphis Medical Center apartment building for $6.4 million.

SMALL BUSINESS

Mobile Merchants Gets Retailers, Chefs Rolling

Barry Lichterman and Blake Lichterman own a small fleet of retail and food trucks, but you won’t see their name on any of the vehicles.

LOCAL COLUMNISTS

I Believe in Grit and Grind. Amen.

GLORY BE. As an early convert, I was there for their first win ever – the first outward and visible sign for a city so in need of faith. While we knew grit and grind all too well, who knew we would come to embrace that identity and its disciples with religious fervor?

We’re All in Sales

Lately, I’ve heard the phrase, “we’re all in sales” a few too many times. This thought can be a strange one to grasp when you think about it. For example, how could you ever be considered to be “in sales” if you work in the accounting, operations or legal department?

Multigenerational IRAs and Estate Planning

Ray's take: A multigenerational IRA is an individual retirement arrangement that works well not only to first-generation beneficiaries upon your death, but also to subsequent heirs who follow the original beneficiaries. These are also sometimes called a “stretch IRA.”

On Second Thought

“When is the law that is the law not the law? And vice versa.”

Browser Security Critical to Business

I recently received an information technology support request from an office of real estate folks, many of whom also hunt for hobby and client entertainment.

Google Gets Inside Our Heads

In the Internet search world, Google is clearly king and marketing professionals across the globe give this tech giant the lion’s share of their search marketing attention. Every time Google makes a change to its infamous algorithm, search engine marketers scramble to assess the impact and adjust their strategies.

Don’t Buy This ‘Market’

Last week, the Nasdaq, the S&P 500 and the New York Stock Exchange composite indexes all hit new historic highs, bolstered by falling rate hike expectations. In the market environment of the day, economic softness causing falling revenues and falling prices (see first-quarter earnings season) holds less influence than falling interest rates.

Making Memphis Clean by 2019

Editor’s Note: This column will appear weekly throughout April in honor of Memphis and Shelby County’s Sustainability Month.

Fundraising and Basketball, Part 1

Part one of a two-part series. Recent columns have focused on questions for employers to ask prospective fundraising employees and questions for interviewees to ask their interviewers. Our goal: to help all parties understand the critical role of fundraising professionals and what it takes for them to be successful.

What I Tell My Team

Ask the hard questions. As a thriving consultancy, our primary vocation is providing insight that adds value to our clients. To meet this objective we have to play enlightened court jester, asking the unaskable questions those inside the company cannot ask.

Tennessee Trademark Protection: An Affordable Way to Protect A Slogan or Logo

If you use a slogan or a logo that identifies your company to your customers, you should protect your rights to that slogan or logo. If you don’t have the thousands of dollars that a federal trademark registration might require, the Tennessee Trademark Act might provide you with the protection you need at a cost you can afford.

TENNESSEE LEDGER
Nashville Edition

Will Tennessee Republicans Ever Be Truly Happy?

Why aren’t Tennessee Republicans happier?

Students Not Giving Up on Tuition Equality

Tennessee students without citizenship say they’ll continue the battle for in-state tuition in 2016 after a measure to help them overcome the financial hurdle of out-of-state tuition barely failed on the House floor.

New State Chair Wants All-GOP Legislature

With more than six years of experience in the House of Representatives, Knoxville Republican Ryan Haynes is leaving the post to take on a new job: Tennessee Republican Party chairman.

Condo Dwellers Loving Restaurant Choices

It’s Saturday afternoon, and the Bakersfield taco bar, located at the bottom of the Encore condominium building downtown, has drawn a lively crowd.

Nashville Zoning Issue a Big Threat to Tiny Houses

As the price per square foot for Nashville properties continues its climb, buyers are paying more for less.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 61 17,604
MORTGAGES 0 68 20,494
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 183 35,999
BANKRUPTCIES 0 38 11,720
BUSINESS LICENSES 0 28 5,588
UTILITY CONNECTIONS 0 92 12,126
MARRIAGE LICENSES 0 25 4,382

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