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VOL. 132 | NO. 187 | Wednesday, September 20, 2017

Boyd Drops Beale Contract, But Says It Wasn't A Conflict of Interest

Memphis City Council chairman Berlin Boyd ended his company’s fundraising contract with the Beale Street Merchants Association Tuesday, Sept. 19. But he again insisted the contract was not a conflict of interest in his duties as a council member voting on items involving the entertainment district.

Effects of June Cyberattack Cost FedEx $300 Million in Q1

FedEx’s earnings per share for the first quarter were down year over year, as the Memphis-based shipping company continues to feel the effects of a June 27 cyberattack on subsidiary TNT Express that ended up costing $300 million.

Highwoods Sells Southwind Portfolio for Nearly $40M

Highwoods Properties has sold a massive portion of its portfolio in Southwind to a New York-based investment group for $39 million.

100-Year-Old Question

CRE community weighs in on possible Brooks relocation

The Memphis Brooks Museum of Art was already more than 10 years old when Sears, Roebuck & Co. opened its nearby Crosstown store in 1927 and the rest of the neighborhood began to fill in, so it was shock for many Memphians to hear about the possibility of the iconic institution leaving the only home it’s ever known.

Last Word: The Brooks Question, Boyd's Answer and Tigers In the Polls

Art as a real estate consideration. One of the more unusual of many considerations as the Brooks search for a new site – a possible new site, I should add, becomes the city’s favorite topic. So from the CRE vantage point – here are two more possible sites to think about if you haven’t already – Cossitt Library and the Fairgrounds, as well as right where it has been for the last century.

Local Weather
Currently
Memphis, TN
52.0°F
Overcast
Wind: Southwest at 8.1 mph
Humidity: 47%

EVENTS

The Memphis 3.0 comprehensive planning process continues this week with two public workshops studying growth scenarios for the city through 2040. Participants will go through an exercise to identify which values are most important to drive future development, then select and amend a preferred scenario based on those values. Workshops are Wednesday, Sept. 20, from 5:30 p.m. to 7 p.m. at the Whitehaven Golf Course, 750 E. Holmes Road, and Thursday, Sept. 21, from 5:30 p.m. to 7 p.m. at McFarland Community Center, 4955 Cottonwood Road. Visit memphis3point0.com for details.

more events »

Gannett Cost-Cutting Again Trims Commercial Appeal Headcount

The effects of another companywide restructuring at newspaper publisher Gannett Co. Inc. – which owns USA Today as well as The Commercial Appeal – have touched the newsroom in Memphis, following an even deeper round of local cuts earlier this year.

Beale, Bourbon Street Protocols Examined

As the Beale Street Task Force moves toward making recommendations to the Memphis City Council on a Saturday night Beale Street cover charge, there isn’t a consensus on the $5 charge.

Overton Park Conservancy Embarks On Master Plan

As leaders of the Memphis Brooks Museum of Art announced this month they are considering a move to a newly built facility elsewhere in the city, the Overton Park Conservancy was beginning to develop a master plan for the Midtown park, including the museum, Memphis Zoo, Memphis College of Art and Levitt Shell.

AutoZone Reports Mild Fiscal Fourth Quarter

Memphis-based auto parts retailer AutoZone Inc. continues to find itself in an environment that’s unusual for the company and one that it’s not accustomed to, with the company’s fiscal fourth quarter sales bearing that out.

Deadspin Likes Memphis More Than AP, Coaches Polls Do

As great as the 48-45 victory over then-No. 25 UCLA was, as nice as it has been to hear the University of Memphis getting national mentions, the Tigers have work to do. Maybe more than you’d imagine.

MEMPHIS NEWSMAKERS

Flee Joins Youth Villages To Lead Digital, Creative Strategy

Travis Flee has been named a director of Youth Villages’ marketing and communications department, where he serves as director of digital strategy and creative services. Flee comes to Youth Villages with nearly 20 years of marketing experience, serving most recently as the director of digital brand marketing for Hilton Worldwide.

LOCAL COLUMNISTS

Should Your Resume Include A Photograph?

Recently, I started receiving a question I haven’t heard much before: “Should I put my photo on my resume?”

Corporate Disaster Aid: How and When

Disasters are chaotic and complex. Just a few minutes of howling wind or shaking earth can leave years of cleaning up, rebuilding and coping with a new reality.

STATEWIDE

GOP Donor Launches Super PAC to Support Corker Challenger

NASHVILLE, Tenn. (AP) – A conservative Tennessee auto dealer is launching a super PAC to support Andy Ogles' bid for the U.S. Senate seat held by Republican Bob Corker.

Tennessee Gubernatorial Candidate Diane Black to be Deposed

NASHVILLE, Tenn. (AP) – Republican gubernatorial candidate Diane Black is being deposed in a lawsuit related to a television ad that ran in her first campaign for Congress.

Tennessee Sets Record With 1,631 Overdose Deaths in 2016

NASHVILLE, Tenn. (AP) – Health officials say Tennessee saw a record number of overdose deaths in 2016.

REGIONAL NEWS

Mississippi to Tax Short-Term Lodging Outside Hotels, Motels

JACKSON, Miss. (AP) – Mississippi will start taxing short-term lodging rentals booked online through companies such as Airbnb.

LEGAL AFFAIRS

Feds: CitiFinancial to Pay $907K for Unlawfully Seizing Cars

DALLAS (AP) – Prosecutors say CitiFinancial Credit Co. will pay $907,000 to settle a com-plaint that it violated federal law by repossessing the vehicles of active military personnel.

NATIONAL BUSINESS

Toys 'R' Us Keeping Stores Open Following Bankruptcy Filing

NEW YORK (AP) – Toys 'R' Us, the toy retailer struggling with $5 billion in debt and intense online competition, has filed for bankruptcy protection ahead of the key holiday shopping season – and says its stores will remain open for business as usual.

Kohl's to Start Accepting Amazon Returns at Some Stores

MENOMEE FALLS, Wis. (AP) – Kohl's, which is opening some in-store Amazon shops, will start accepting returns for the online retailer at some of its stores in Los Angeles and Chicago starting next month.

Health Benefit Offers From Small Businesses Keep Vanishing

Only half of America's smallest businesses now offer health coverage to their workers because many say steady cost hikes have made it too expensive to afford a benefit nearly all large employers still provide.

MEDICAL NEWS

FDA OKs Glaxo's Inhaler, First One to Combine 3 Medicines

The Food and Drug Administration has approved the first inhaler that combines three medicines to ease breathing in patients with emphysema or chronic bronchitis.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 86 393 21,159
MORTGAGES 94 424 24,785
FORECLOSURE NOTICES 0 93 8,703
BUILDING PERMITS 173 1,010 43,347
BANKRUPTCIES 52 292 14,194
BUSINESS LICENSES 15 90 6,491
UTILITY CONNECTIONS 28 167 13,678
MARRIAGE LICENSES 12 89 5,158

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