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VOL. 133 | NO. 26 | Monday, February 5, 2018

The Week Ahead: Feb. 5-11, 2018

Good morning, Memphis! If you’re looking for a legit reason to “space out” this week, The Orpheum’s got you covered with two out-of-this-world events. Meanwhile, LeMoyne-Owen College honors Black History Month and a pair of local nonprofits celebrate the hope and heart of the city. And that’s just a taste of what’s on tap in The Week Ahead.

Cushman & Wakefield Tapped to Handle MCA Sale

Memphis College of Art has tapped real estate brokerage firm Cushman & Wakefield/Commercial Advisors to handle the sale of its Midtown portfolio.

$5M Permit Filed for New Hotel Indigo

Atlanta-based Three P Partners has filed a $5 million building permit application with the Office of Construction Code Enforcement to construct a 118-room Hotel Indigo at the corner of North B.B. King Boulevard and Court Avenue.

Here are Seven Memphis Charter Schools in Danger of Closing

Seven Memphis charter schools could close in 2020 if they don’t improve, based on Shelby County Schools’ first report card comparing its schools.

Local Weather
Currently
Memphis, TN
48.0°F
Overcast
Wind: Northwest at 5.8 mph
Humidity: 89%

EVENTS

Novel will host “Edge of the Wind” author James E. Cherry for a discussion and signing Tuesday, Feb. 6, at 6 p.m. at the bookstore, 387 Perkins Road Extended. Visit novelmemphis.com.

more events »

AROUND MEMPHIS

Around Memphis | Feb. 5, 2018

The Daily News offers a weekly roundup of Memphis-related headlines from around the web, adding context and new perspectives to the original content we produce on a daily basis. Here are some recent featires worth checking out...

Last Word: Super Bowl From A Distance, More School Plans and DACA

Eagles over Patriots 41-33. Also at the Super Bowl – no Prince hologram in the JT halftime show but plenty of choreography and a nightclub beneath the stage … the NFL catch rule has its last hurrah – probably … Patriots-haters have the offseason to become Eagles-haters. And Philadelphia Police use hydraulic fluid to stop Eagles fans from climbing utility poles. Irony lives.

Local Charter Group Signals Intent to Take Over Catholic Jubilee Schools

A Memphis charter school group led by the president of Christian Brothers University is preparing paperwork to apply with the state and Shelby County Schools to convert nine Catholic schools to charter schools.

Fred’s Changes CFOs for Second Time in Seven Months

Memphis-based retailer Fred’s Inc. has replaced its CFO for the second time in less than a year. Fred’s on Thursday, Feb. 1, announced the appointment of Joseph Anto as executive vice president and CFO, effectively immediately. He succeeds Jason Jenne, who was appointed CFO in July and is leaving the company.

Target Launching Same-Day Delivery in Memphis

Shoppers in Memphis will be able to get same-day delivery on orders they make from Target starting Friday, Feb. 8, thanks to Target’s $550 million purchase last year of the Internet-based delivery service Shipt.

REAL ESTATE RECAP

Pizza, Donuts and Pinnacle Planned For Midtown

1350 Concourse Ave., Memphis, TN 38104: Two local restaurateurs are looking to carve out their own slice of the Crosstown Concourse with the opening of Elemento’s Neapolitan Pizza.

THE MEMPHIS NEWS

Editorial: DACA and the American Way

The limbo that people who came to the U.S. illegally as children find themselves in is a problem that has existed for quite some time.

Dreamers Deferred

Federal decision on DACA could have a material impact on Memphis economy

You never really get to the point where you can stand at a particular moment in time and forecast with any certainty how your life is going to turn out, how things are going to look or what’s going to be different over a long time horizon. That’s certainly the way it’s been, and still is, for Mauricio Calvo and Memphians like him.

This Week In Memphis History: February 2-8, 2018

1948: On the front pages of The Daily News, the city commission approves paying Pidgeon-Thomas Iron Co. a final payment of $6,691.62 for 45 fire hydrants. Illinois Central Railroad is granted a right of way to construct a spur track across Broadway. The commission is also converting lots of land along U.S. 51 in Frayser from agricultural to residential – including property along what is now Carrolton Road, the land south of Floyd on the west side of the highway and Woodland Heights on the southeast corner of Millington and U.S. 51. The city makes a payment of $1 million to cover the deficit run by the Auditorium and Market Commission for the last three months of 1947. And the city zones all of the land on the west side of East Parkway between Nelson and Young as “A” residential.

LAST WEEK'S MOST POPULAR

FedEx to Invest $3.2B in Wages, Pension Fund, Hub Investments

FedEx Corp. has announced it will invest $3.2 billion to enact three new programs in the wake of the U.S. Tax Cuts and Jobs Act, the first being to increase employee compensation by more than $200 million, about two-thirds of which will go to hourly employees.

Target Fulfillment Center Closing, Vendor Laying Off 486 Memphis Workers

A Target fulfillment center in southeast Memphis is closing in April, resulting in 486 layoffs.

Trader Joe’s, H&M, Mempops Announce New Locations

2130 Exeter Road, Germantown, TN 38138: It looks like the Memphis area is finally getting a Trader Joe's. A $750,000 building permit application that lists Trader Joe’s as a tenant has been filed with the Office of Construction Code Enforcement.

SCS Looking To Move Out of Central Offices Near Fairgrounds

Shelby County Schools is in the due diligence phase of a relocation out of its long-time central office near the Mid-South Fairgrounds. And it comes as the city is pursuing a redevelopment of the fairgrounds and areas around it.

Bite Squad Pool Of Memphis Restaurants Tops 150

Competition in the on-demand meal delivery space is heating up in Memphis with the online and mobile food ordering and delivery service Bite Squad adding more than 30 new restaurants to its stable in Memphis, bringing its total to more than 150 here.

TENNESSEE LEGISLATURE

Tennessee Governor Announces Juvenile Justice, College Bills

NASHVILLE, Tenn. (AP) – Tennessee Gov. Bill Haslam has introduced bills to introduce credit-hour requirements for scholarships at higher education institutions, reform the juvenile justice system and shrink the University of Tennessee's board.

REGIONAL NEWS

Lawsuits Over Herbicide Dicamba to Be Heard in St. Louis

LITTLE ROCK, Ark. (AP) – A special panel of judges says 11 lawsuits filed in four states against the makers of the herbicide dicamba will be centralized in federal court in St. Louis.

NATIONAL BUSINESS

Big Pay Gains for US Workers Contribute to Wall St. Sell-Off

WASHINGTON (AP) – Pay raises, the U.S. economy's Achilles' heel in its long recovery from the Great Recession, finally showed signs of accelerating last month – a trend that fanned inflation fears and sent bond yields rising and stocks sinking.

Best Buy to Hand Out Bonuses to Workers

NEW YORK (AP) Best Buy Co., the nation's largest consumer electronics retailer, says it will be handing out bonuses to more than 100,000 employees, joining a list of companies sharing a portion of their windfall from the corporate tax reform law with employees.

Federal Reserve Imposes New Penalties on Wells Fargo

WASHINGTON (AP) – The Federal Reserve is imposing more penalties on Wells Fargo, freezing the bank's growth until it can prove it has improved its internal controls. In addition, bank agreed to replace four board members.

Yellen Lands New Job at Brookings Institution

WASHINGTON (AP) – Federal Reserve Chair Janet Yellen, the first woman to head the nation's central bank, got a boisterous send-off from Fed staff, but she isn't taking any time off. After her last day at the Fed on Friday, she will start a new job Monday at the Brookings Institution.

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Blog News, Training & Events
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 72 288 2,335
MORTGAGES 85 341 2,894
FORECLOSURE NOTICES 11 68 477
BUILDING PERMITS 167 765 5,003
BANKRUPTCIES 38 258 1,779
BUSINESS LICENSES 22 150 896
UTILITY CONNECTIONS 33 119 1,012
MARRIAGE LICENSES 19 80 343

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