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VOL. 131 | NO. 120 | Thursday, June 16, 2016

Daily Digest

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Memphis Bioworks Wins Nearly $4M Federal Grant

The Memphis Bioworks Foundation has been awarded a nearly $4 million grant from the U.S. Department of Labor as part of its Strengthening Working Families Initiative.

In the Memphis region, the funding will be used to facilitate short-term job training, coaching and job placement for unemployed or underemployed parents in Fayette, Lauderdale, Shelby, and Tipton counties. The program will include support services, including funding for and access to child care resources and transportation assistance.

Training will be targeted in advanced manufacturing, health care and information technology careers, and the program’s goals are to provide grant-funded services and education and training to more than 500 participants by June 2020.

Memphis Bioworks will also consult with the Employer Advisory Council it manages for insight and input on job training curricula, industry trends, essential skills training and employment opportunities.

– Andy Meek

Mallory Alexander Opens Houston Office

Mallory Alexander International Logistics of Memphis has opened a Houston office as the company’s third major location in the South.

The operations at the Port of Houston focus on customers in the Gulf region as well as around the world.

“This new office presents the opportunity to expand our footprint near the fastest-growing Gulf port,” said Neely Mallory III, president of Mallory Alexander. “It also allows Mallory to re-enter a market that is expected to increase its imports and exports tonnage with the expansion of the Panama Canal.”

Mallory Alexander already has warehouses in Texas and offices in Dallas and Laredo.

The Houston office services will include consulting work on customs regulations, customs clearance, automated pre-filing for importers, quota entries and advice on free trade agreements.

The company has more than 500 employees in the U.S. along with branch offices in Hong Kong, Mexico and China.

– Bill Dries

Construction Work Begins on CMOM Carousel Building

The Memphis Grand Carousel is closer to its summer 2017 opening. Montgomery Martin Contractors recently filed a $4.4 million building permit for “a single family banquet room” at 2525 Central Ave. The project is part of the Children’s Museum of Memphis campus, and the new building will house the 107-year-old carousel that previously spun at the Mid-South Fairgrounds.

When the fairgrounds closed, the carousel was boxed up and shipped to Ohio for a $1 million renovation.

With architect Designshop, CMOM is building a 20,000-square-foot addition to house the carousel. The glass-enclosed building will feature a carousel lobby, an attached banquet hall, a pre-event gathering space and a smaller meeting room.

– Madeline Faber

Grizzlies’ Jordan Adams Having Knee Surgery

The Memphis Grizzlies announced that guard Jordan Adams was to undergo cartilage transplant surgery on his right knee on Wednesday, June 15.

In August, Adams underwent a lateral meniscectomy on his right knee after sustaining a partially torn meniscus during an offseason workout.

Adams never really recovered and underwent a debridement surgery on Jan. 12. Following that surgery, he participated in a lengthy rehab program, extending through the second half of the 2015-16 season.

But ultimately he was unable to return to contact play without pain in his right knee. He will be out indefinitely.

“This is obviously difficult news for Jordan and our organization,” Grizzlies general manager Chris Wallace said in a statement. “Jordan has been on a tough road for the better part of a year.”

The surgery was to be performed by Dr. Riley Williams at the Hospital for Special Surgery in New York.

Adams holds career averages of 3.2 points and 0.9 rebounds in 32 games since being taken 22nd overall by the team in the 2014 NBA Draft.

– Don Wade

Wunderlich Analysts Win Industry Distinction

Two Wunderlich analysts have been named among the top performing research analysts in their respective coverage sectors.

In the 2016 Thomson Reuters Analyst Awards, Liam Burke was ranked No. 1 Stock Picker in the machinery category, and Rommel Dionisio was ranked the No. 2 Stock Picker in the leisure products category.

The Thomson Reuters Analyst Awards recognize the world's top individual sell-side analysts and are considered a standard in objective measurement of sell-side analyst performance.

Burke is a two-time recipient of the Thomson Reuters Analyst Awards. He is a managing director covering the specialty industrials and materials space. Dionisio, meanwhile, is a managing director covering the recreational/leisure and active lifestyle sectors.

– Andy Meek

AT&T Invests Nearly $200M in Memphis in Past 3 Years

AT&T invested nearly $200 million in its Memphis-area wireless and wired networks between 2013 and 2015, the company announced this week.

The investments enhance reliability, coverage, speed and performance for residents and businesses, and also enhance services that support public safety and first responders.

In 2015, AT&T made 256 wireless network upgrades in the Memphis area, adding new cell sites and network capacity, along with new wireless high-speed internet connections.

“I thank our elected officials for their hard work in Nashville that has allowed for investments like these to pour into the Memphis area,” Greater Memphis Chamber president and CEO Phil Trenary said in a statement.

AT&T said its 2015 network enhancements gave more than 28,000 business customer locations across Tennessee access to its fiber-optic network. On a national scale, it plans to continue rolling out a 100 percent fiber network to reach more than 14 million additional residential and commercial locations.

– Daily News staff

ESPN to Televise Three Memphis Football Games

The University of Memphis football team will have three games on ESPN, one on ESPN3.com/WatchESPN and two on CBS Sports Network, the American Athletic Conference announced.

More televised games are expected, as the league’s television partners have a 12-day window to add contests as the 2016 season progresses. Further, the Oct. 1 nonconference road game at Ole Miss will be televised by one of the Southeastern Conference’s television partners.

Memphis’ 2016 season and home opener against Southeast Missouri kicks off Sept. 3 with an ESPN3.com/WatchESPN broadcast. After a bye week Sept. 10, the Tigers make an ESPNU appearance against Big 12 Conference foe Kansas on Sept. 17. Memphis’ contests against Southeast Missouri and Kansas will be at Liberty Bowl Memorial Stadium.

The Tigers’ American Athletic Conference opener against Temple is slated for a Thursday night ESPN telecast. Memphis hosts the Owls Oct. 6 at the Liberty Bowl. The following week, the Tigers play their league road opener at Tulane for a Friday night ESPNU broadcast on Oct. 14.

Memphis also has a pair of games on CBS Sports Network, with both contests on the road. The Tigers’ first scheduled CBS Sports Network appearance is the program’s first trip to Annapolis, Md., to face Navy Oct. 22, and Memphis’ contest at Cincinnati is set for a special Friday CBS Sports Network telecast on Nov. 18.

The Tigers’ 2016 schedule features seven home games, and season tickets are on sale now, starting at $100. For tickets, call 901-678-2331 or visit gotigersgotix.com.

– Don Wade

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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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