» Subscribe Today!
More of what you want to know.
The Daily News
X

Forgot your password?
Skip Navigation Links
VOL. TMN-10 | NO. 16 | Saturday, April 15, 2017
Weekly Issue

Racist Phone Tirade Prompts Reactions, Denials

A recorded racist telephone tirade purportedly by a former membership programs and services director of the Greater Memphis Chamber and her husband directed at the staff of a restaurant in Turks & Caicos went viral Friday, April 14, a week ahead of the chamber’s announcement of a new minority business effort.

Tax Man Cometh

Commercial property owners brace for valuation increases

After years of lagging behind other parts of the county, Memphis’ real estate market is finally coming into its own. But with a strong market comes an increase in property values, which in turn leads to higher taxes.

Setting New Tax Rate After Reappraisal Becomes ‘Moving Target’

For local government leaders, the 2017 countywide property reappraisal is about resetting the property tax rate for Shelby County government and all seven of the cities and towns within the county.

EDITORIAL

Editorial: Property Reappraisals Soar After Recession

Shelby County’s most recent property reappraisals have caused a lot of sticker shock. Residential property values have risen an average of 10 to 13 percent countywide, and some homeowners have even seen increases of 25 or 30 percent in the taxable value of their homestead.

Weekly Issue

View This Week's Issue of The Memphis News

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

Issues | About

Weekly Logo
Local Weather
Currently
Memphis, TN
89.0°F
Mostly Cloudy
Wind: Southwest at 9.2 mph
Humidity: 61%

EVENTS

The Dunavant Public Servant Awards luncheon, co-sponsored by The Rotary Club of Memphis East and The Daily News, will be held Tuesday, April 18, from 11:30 a.m. to 1 p.m. at the Hilton Memphis, 939 Ridge Lake Blvd. Awards will be presented to Collierville Mayor Stan Joyner and Memphis Public Library & Information Center director Keenon McCloy, and U.S. Sen. Bob Corker will give the keynote. Tickets are $50. Call 901-754-1615 or email lmhughes@costconsulting.net.

more events »

Railgarten Addresses ‘Confusion’ About Use of Shipping Containers

If Railgarten’s intention was to be a transformative force in the section of Midtown between Overton Square and Cooper-Young, then its first week of business has been a resounding success.

EMPHASIS Residential Real Estate

Lack of New Homes is Missing Piece to Memphis' Housing Puzzle

There is a lot to like about the Memphis housing market right now. With home sales up 13 percent and average sale prices up 5 percent through the first quarter of 2017, things are finally looking up for one of the hardest-hit cities in the nation during last decade’s housing crisis.

Condominium Inventory Runs Dry As Popularity Soars, Sales Improve

2016 was a big year for Memphis’ condominium market. Sales were up 18 percent from 2015, driven primarily by brisk sales at the Artesian Metropolitan Residences, the luxury high-rise on Riverside Drive. Excited reports were made of a renaissance in Memphis condo sales. It seemed as if everyone wanted a condo, and wanted one fast.

Initiatives Geared at Boosting Owner-Occupied Housing

Nearly a third of all homes in Shelby County are owned by investors, a fact which has state and city leaders looking for ways to stem the tide and encourage locals to buy into their communities through owner-occupied homeownership.

THE MEMPHIS NEWS ALMANAC

April 14-20, 2017: This week in Memphis history

1960: The Chicago White Sox and Cleveland Indians play an exhibition baseball game at Russwood Park. In the sixth inning, Cleveland star Rocky Colavito walked. Indians manager Joe Gordon calls Colavito, the most popular baseball player in Cleveland, to the dugout from first base and tells him he has been traded to Detroit. That night, the wooden ballpark that had been the home for decades of first the Memphis Turtles and then the Memphis Chicks baseball teams burns to the ground.

ECONOMIC DEVELOPMENT

Pinch District Plan May Spell End to Moratorium

The Pinch District Concept Study, the city’s strategic plan to guide the growth of the downtrodden Downtown neighborhood, was approved by the Land Use Control Board Thursday, April 13 – a move that could signal an end for a longstanding moratorium that has kept the nine-block district frozen in time.

Transit Options Vital to Regions, Expert Says

Establishing mode share in a region – the percentage of travelers using a certain a mode of transportation – is one the first and most important baselines for a region to establish on the way to improving transportation as a whole.

FINANCIAL SERVICES

First Horizon Reports Busy, Profitable First Quarter

First Tennessee Bank’s parent company kicked off 2017 with a busy first quarter, a period in which the company saw net income growth of 13 percent, an improvement in deposits and loans, a 29 percent boost to its dividend and the closing of a key acquisition.

HEALTH CARE

Baptist, American Esoteric Laboratories Partner on New Automated Microbiology Lab

As Baptist Memorial Health Care Corp. president and CEO Jason Little was arriving at American Esoteric Laboratories Wednesday, April 12, he caught sight of his cousin who works at AEL.

ARTS & ENTERTAINMENT

After Successful First Year, ‘Art by Design’ Returns

As a board member of ArtsMemphis, Greg Baudoin had contributed other fundraising ideas, including one for a culinary series showcasing the city’s best chefs.

PRIZM Music Camp and Festival Expands

Memphis’ PRIZM music camp and international chamber music festival is adding a new location as well as an extra week of programming.

CITY HALL

City Council Abolishes Beale Street Authority

The year-old Beale Street Tourism Development Authority quietly went out of business this week without a single objection to be heard at City Hall.

Money Behind New Zoo Parking Terms

In the third attempt to bring an end to the Overton Park Greensward controversy last summer, Memphis City Council member Bill Morrison decided it was best not to try to reach agreement on all points, but on most points.

Task Force Backs 3 De-Annexations, 3 Referendums

A task force on de-annexation is recommending referendums in three recently annexed areas of Memphis, an automatic de-annexation of three other sparsely populated areas on the city’s borders and keeping a part of Raleigh proposed by Memphis Mayor Jim Strickland for de-annexation.

ENTREPRENEURSHIP

Z-Muffins Raise Lilee’s Gourmet Business

Just in time for National Zucchini Bread Day on April 25, locally owned Lilee’s Gourmet Bakery is expanding into more Memphis-area retail locations. The fresh food bakery’s staple – zucchini bread muffins, or “Z-muffins” – are now sold in 18 area Kroger stores as well as Miss Cordelia’s Grocery, the Curb Market, Cash Savers, Superlo, Whole Foods and Fresh Market.

POLITICS

Memphis’ Political History Reflects Changes With New Entries

There was a moment during the March unveiling of former Mayor A C Wharton Jr.’s portrait in the Hall of Mayors when the task of framing history gave way to the present.

LAW & THE COURTS

Report: Centralize System for Indigent Counsel

There should be one central statewide data and reporting system for how the poor are represented in civil and criminal matters in Tennessee, according to a state task force that reported its findings Monday, April 10, to the Tennessee Supreme Court.

REAL ESTATE & DEVELOPMENT

Shelby County Housing Market Caps Off Strong First Quarter

The final month of the quarter capped off a strong start to 2017 as the number of homes sold in Shelby County were up 20 percent in March and 13 percent for the first quarter.

Shops of Wolflake Near Wolfchase Sells for $4.8M

2965 N. Germantown Parkway, Bartlett, TN 38133  -
A Germantown Parkway shopping center near Wolfchase Galleria has switched hands for nearly $5 million, according to a warranty deed filed with the Shelby County Register of Deeds March 31.

Memphis Industrial Market Continues Positive Trend in 2017

The Memphis area industrial real estate market closed the first quarter with positive net absorption, a strong start to 2017 that builds on a nearly four-year streak.

FINANCIAL SERVICES

Mortgage Market Grows 24 Percent in March

Shelby County’s mortgage market closed out a busy first quarter with a 24 percent bump in purchase mortgage volume for the final month of the quarter, new figures show.

THE TIPPING POINT

Conley Puts Delicious, Local Food on Memphis Tables

Josh Conley is happy to debate the merits of local kale. His only question: How much time do you have? “I have more discussions about kale than I really care to admit,” he says. “We’ve got Siberian kale and Red Russian kale and green curly kale. We’ve got baby kale and Toscano kale, which some people refer to as dinosaur kale.”

COMMUNITY

Binghampton’s Diverse Culture On Display at Kaleidoscope Festival

With nearly 20 nationalities calling Binghampton home, the neighborhood possibly is the most culturally diverse in Memphis.

DOWNTOWN

“Gateway’ Puzzle Begins To Come Together

Starting last summer, a new ownership group for the city’s largest hotel by room count was undertaking its due diligence largely out of the public eye.

SPORTS

If It’s the NBA Playoffs, It Must Be Grizzlies vs. Spurs

For the fifth time in the 10 playoff seasons in franchise history, the Memphis Grizzlies will play the San Antonio Spurs. They have been swept them by them in the first round twice (2004 and 2016), swept in the Western Conference Finals (2013) and shocked the NBA by upsetting the Spurs as the No. 8 seed in the first round (2011).

The Press Box: For Tigers Basketball, No Easy Way Forward

Questions – and to the extent possible – answers about the reeling University of Memphis basketball program.

Ex-Cub Dexter Fowler a Full-On Cardinal Now

Center fielder Dexter Fowler’s 2016 season could not have ended any better: winning Game 7 of the World Series, being part of a Cubs team that will forever be legends for breaking that 108-year-old curse.

Vols Defensive Coordinator Shoop Looks to Improve Team’s Defense

The most unexpected development during Tennessee’s 2016 football season wasn’t three straight losses in October or the disappearing act at Vanderbilt.

SNAPSHOT

Snapshot: Learning with a Princess

Miss Music City Elizabeth Hale led literacy activities April 8 with students at Porter-Leath’s Head Start facility on American Way. Titleholders from around the state participated in Miss Tennessee Serves Day.

MEMPHIS NEWSMAKERS

Royston Joins Planned Parenthood To Lead Volunteer Training Efforts

Nikeisha Royston recently joined Planned Parenthood Greater Memphis Region as community manager, a role in which she identifies individuals interested in supporting women’s rights, then trains them to advocate for themselves and others and to be involved in the legislative process.

TENNESSEE LEGISLATURE

Harwell Cites Need for Alternative Transportation Funding Plan

House Speaker Beth Harwell says she believes it’s important to have a transportation funding plan counter to Gov. Bill Haslam’s gas tax/tax cut act after House Republican Caucus members voted to oppose the governor’s idea.

Immigrant Student Bill Fails in House Education Committee

Karla Meza dreams of enrolling in the University of Tennessee Law School after growing up in Knoxville and watching college students walk along Cumberland Avenue.

Civil Rights Activist Owens Calls Out Memphis Lawmaker

Memphis civil rights activist Bill Owens, who campaigned for Republican Donald Trump in the 2016 presidential race, is criticizing a state legislator who refused to back his political efforts in a statement on the House floor.

Parkinson’s Pot Bill Falls Short by Handful of Votes

Legislation by Rep. Antonio Parkinson designed to cut felony charges for possession of small amounts of marijuana didn’t exactly light up the House Monday evening. 

House Committee Moves Voucher Bill With ‘Neutral’ Recommendation

Legislation setting up a pilot voucher program for low-income students in Shelby County emerged Wednesday, April 12, from the House Government Operations Committee after two weeks of delay.

Mistreated GOP Legislators Only Want to Be Heard

Word has it extra tissue will be placed on the desks of some House members in the coming weeks so they can dry their tears of pain.

LOCAL COLUMNISTS

Saving the Day

YOU WANT TO LIVE IN THE CITY THEY SEE. AND YOU DO. Last week, I took a 3-year-old to see “Power Rangers,” teenagers turned superheroes to save a threatened world while assuring the future of digital effects. I didn’t want to go, but I cheered as loud as he did, spilling popcorn everywhere. As the credits rolled, he looked up at me and said – I swear – “Granddan, the Power Rangers saved the day.”

Retirement Planning Illusions

Ray’s Take By its nature, retirement planning requires making plans without being able to know the future. When it comes to retirement planning, there’s no shortage of conventional wisdom.

Harris: Syrian Air Strikes Should Change State’s Stance on Refugees

State Sen. Lee Harris is calling on the Legislature to rethink its stance on refugees amid legal action taken against the federal government after President Donald Trump ordered an air strike against Syria.

Norris, Proponents of Current IMPROVE Act Stand Firm as Alternative Bills Are Devised

Senate Majority Leader Mark Norris gets revved up when he talks about the IMPROVE Act as a tax-cutting and bridge-safety measure. It’s a message he’s been sending for weeks, yet other lawmakers aren’t catching on.

Entrepreneurship Is in the Water

“There’s something in the water.” I often heard that expression when someone referenced a widespread occurrence, the cause of which was puzzling or unexplainable. But if it’s Memphis water, I know what is in it: the soul of an entrepreneur.

Career Interference

The job market often offers twists and turns you’d never expect. My first twist happened during college.

Avoid the ‘Me, Me, Me’ Trap

It’s official – you are on the social media bandwagon. Your company has a presence on major social-media platforms because you want to drive traffic to your website, engage customers in conversation and learn their insights, build brand loyalty, deliver better customer service and manage your reputation. But just being on Facebook and Twitter won’t make those things happen. You have to work for it. Positioning your company as an information source can help you achieve those goals.

Upsetting the Category

After years of battling over market share and swapping customers back and forth, many companies lose perspective of their market. They know their market too well, ironically, which cripples their vision of new ways their categories could potentially grow or be disrupted. 

Responding to Rejection: Retreat or Resilience?

Connecting with an individual donor, businessperson or program officer within a foundation can be the first step in securing resources for your organization. When you are asked to submit a proposal or share the highlights of your project you may feel optimistic and excited. Perhaps you are thinking, “This is really going somewhere!” You submit the requested information, wait a bit and then hear what you believe is a loud, resounding “No!”

Setting New Tax Rate After Reappraisal Becomes ‘Moving Target’

For local government leaders, the 2017 countywide property reappraisal is about resetting the property tax rate for Shelby County government and all seven of the cities and towns within the county.

Sign-Up For Our Free Email Edition
Get the news first with our daily email


 
Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 83 223 16,103
MORTGAGES 62 207 18,599
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 323 32,794
BANKRUPTCIES 66 187 10,687
BUSINESS LICENSES 28 86 5,172
UTILITY CONNECTIONS 37 127 11,344
MARRIAGE LICENSES 15 75 3,848

Weekly Edition

Issues | About

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