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VOL. 132 | NO. 130 | Friday, June 30, 2017

Thomas & Betts Moving Corporate Headquarters

Thomas & Betts Corp. has chosen a new location for its corporate headquarters. The Memphis-based electrical component manufacturer is moving from Southwind to ServiceMaster Global Holdings' current space at 860 Ridge Lake Blvd. in Ridgeway Center. ServiceMaster is vacating the East Memphis property for its new headquarters Downtown.

Fred’s Cut Out of New Walgreens, Rite Aid Deal

Walgreens Boots Alliance has struck a new deal with Rite Aid to buy 2,186 of the chain’s stores for $5.18 billion, an agreement that replaces the two rivals’ planned merger. It also nixes the component of the merger involving Memphis-based Fred’s Inc. buying hundreds of Rite Aid stores to help the now-defunct merger pass regulatory muster.

Levitt Shell Seeks to Use Shipping Containers

The Levitt Shell could be getting a new look in the coming months. Representatives from the popular Overton Park concert venue have applied for a conditional use permit with the Shelby County Board of Adjustment to add repurposed shipping containers to be used as a permanent retail structure.

‘Great Streets’ Experiment Opens Between River and FedExForum

The sun umbrellas are on the way for the tables and chairs on the northern side of Peabody Place between Front and Main streets, and so is a temporary mural wall and some kiosks for a marketplace.

BreakFest Festival Returns In September

Organizers of a daylong festival celebrating all things breakfast and brunch have cooked up a new and bigger version of the event, which comes back for its third year in September.

Local Weather
Currently
Memphis, TN
41.0°F
A Few Clouds
Wind: Northwest at 3.5 mph
Humidity: 62%

EVENTS

The South Main Historic Arts District’s last-Friday Trolley Night takes place Friday, June 30, from 6 p.m. to 9 p.m. Art galleries, restaurants and shops between The Orpheum and Webster Avenue will stay open late, with live music and entertainment outside. The evening kicks off with the Memphis Second Line Jazz Band leading a second line parade from LYFE Kitchen to Webster at 6:30 p.m. with surprises along the way, including the GrizzLine at 7 p.m. Visit gosouthmain.com for details.

more events »

Last Word: No Deal, Ivan Rabb and Intermodals in Overton Park

And the winner is … not Fred’s. After months of speculation about the Memphis-based discount retail store’s transformation into a pharmacy-based enterprise with the purchase of hundreds of Rite Aid stores in a third-party divestment move, Fred’s was nowhere to be found when Walgreens announced a deal Thursday to buy the Rite Aid stores. The corporation told investors it will still pursue its strategy but acknowledged its trajectory is “stunted” – that as Fred’s got hammered on Wall Street.

SPORTS

New Grizzlies Ready to Work, Free Agent Picture Still Cloudy

All across the NBA landscape, teams are trotting out their second-round draft picks and saying the same things: We had these players rated higher. We couldn’t believe they were still there. And the classic, “We’re so happy they fell to us.”

Paying Fulmer $100K A Deal for UT Athletics

What does Phillip Fulmer’s hiring as special adviser to University of Tennessee president Joe DiPietro have to do with Vols football coach Butch Jones?

Redshirt Season Helps Johnson Improve Game

Jalen Johnson’s first season on Tennessee’s basketball team didn’t go as planned. Now, he’s better for it.

THE PRESS BOX

Grizz Front Office Has Tough Decisions to Make

To be an NBA general manager on the eve of free agency is to be asked a lot of questions you really can’t answer.

THE TIPPING POINT

Barksdale Fertilizes Relationships Through Agriculture

William Barksdale is just off a trip to China, but he’s reminiscing about the Mississippi Delta. On sultry summer days spent alongside his father, walking the rows of soybean and cotton fields, Barksdale grew into an awareness of the nobility of farming – the simple grace involved in raising crops that will feed and clothe people.

LOCAL COLUMNISTS

The Big Picture

The city is a gallery, the neighborhoods its rooms. Artistic talent runs in the family like spilled India ink on paper, although it ran away from me. Briefly majoring in art, I learned that my talent lay in appreciation not execution, and there is much to appreciate in our city.

MEMPHIS AREA

Officials: Legionnaires' Disease Outbreak at Graceland Hotel

MEMPHIS, Tenn. (AP) – Health officials are investigating a Legionnaires' disease outbreak in the hotel located at Graceland, the tourist attraction centered on the life of late singer Elvis Presley in Memphis, Tennessee.

Alleged Gang Members From California, Tennessee Indicted

MEMPHIS, Tenn. (AP) – Federal prosecutors say 22 members and associates of street gangs in California and Tennessee have been indicted on drug trafficking and money laundering charges.

STATEWIDE

Republican Tim Burchett Mulls Bid for US House or Senate

KNOXVILLE, Tenn. (AP) – Term-limited Knox County Mayor Tim Burchett says he plans to make a bid to join Tennessee's delegation in Congress next year.

Retiring Tennessee Representative Donates $66K to Schools

KNOXVILLE, Tenn. (AP) – Tennessee state Rep. Harry Brooks is donating $66,000 in campaign funds to four high schools in his district.

Judge to Decide Terms of Injunction in TVA Lawsuit

KNOXVILLE, Tenn. (AP) – A federal judge is expected to rule on the terms of an injunction that regulates how the Tennessee Valley Authority removes trees along right of ways while TVA works on an Environmental Impact Statement.

Trial of Former Pilot Executives Could Take Up to 6 Weeks

CHATTANOOGA, Tenn. (AP) – The federal trial of eight ex-employees of the truck stop chain owned by the family of Cleveland Browns owner Jimmy Haslam and Tennessee Gov. Bill Haslam could take up to six weeks.

REGIONAL NEWS

Alabama, Mississippi Drought-Free for First Time Since 2016

BIRMINGHAM, Ala. (AP) – Alabama and Mississippi are completely free from drought for the first time in more than a year.

US ECONOMY

US Economic Growth in Q1 Upgraded to 1.4 Percent

WASHINGTON (AP) – The U.S. economy got off to a lackluster start during the first three months of 2017, though it enjoyed more momentum than earlier estimates indicated.

NATIONAL GOVERNMENT

Debt Deadline Now October, CBO Says As Deficit Spikes

WASHINGTON (AP) – The drop-dead deadline for Congress to increase the government's borrowing authority and avoid a devastating economic default is early to mid-October, says a government estimate released Thursday that delivered another challenge to Republican leaders.

GOP May Keep Some Obama Tax Hikes to Save Health Care Bill

WASHINGTON (AP) – Top Senate Republicans on Thursday considered keeping President Barack Obama's tax increase on wealthier people's investments and using the money to bolster their proposed health care subsidies in a bid to mollify moderate GOP lawmakers and salvage the party's struggling bill.

TECHNOLOGY

Global Cyberattack May Have Aimed For Havoc, Not Extortion

PARIS (AP) – The cyberattack that has locked up computers around the world while demanding a ransom may not be an extortion attempt after all, but something more sinister: an effort to create havoc in Ukraine, security experts say.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 46 229 20,995
MORTGAGES 74 248 24,609
FORECLOSURE NOTICES 0 27 8,637
BUILDING PERMITS 478 837 43,174
BANKRUPTCIES 61 177 14,079
BUSINESS LICENSES 12 58 6,459
UTILITY CONNECTIONS 29 114 13,625
MARRIAGE LICENSES 20 67 5,136

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