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VOL. 132 | NO. 150 | Monday, July 31, 2017

Dries

Bill Dries

Last Word: 'Secular Stagnationists', CRE's Big Year in Memphis and Lakeland Prep

By Bill Dries

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Protests over the weekend in Martyr’s Park and at the federal prison facility in Mason, Tennessee for those rounded up in the ICE – Immigration and Customs Enforcement -- raids here in Memphis that began a week ago. Latino Memphis is also offering legal advice to those who believe they may be caught up in the new push. There are also several efforts to support families that find mothers and/or fathers in federal custody in the sweeps. And over the weekend, Memphis Police issued an arrest warrant for a bounty hunter who turned up on YouTube video in an apartment complex with a large Latino tenant base wearing some kind of badge and vest.

The family of Ismael Lopez is calling for a U.S. Justice Department investigation into the death of Lopez in a shooting last week by Southaven Police. Attorney Murray Wells, who represents the family, says Lopez had a gunshot wound to the back of his head when police opened fire in what appears to have been a police raid on the wrong house. Lopez was not wanted on any warrants, but a neighbor across the street was. Wells said earlier it appeared police opened fire through the front door of the Lopez house. The Mississippi Bureau of Investigation is already conducting the probe into the shooting.

Here is where things were among our representatives in Washington as the weekend began – no clear idea what is next with the defeat of “skinny repeal” in the Senate, with both of Tennessee’s Senators voting for it. And a viral rant by Cong. Steve Cohen on the investigation into Russian influence. With the August recess, Cong. David Kustoff is speaking in the city this week and there will be renewed protests in the Memphis part of his district calling for a town hall meeting with constituents.

David Waddell, CEO and chief investment strategist of the financial firm Waddell & Associates, says Washington’s new style of dysfunction has given us a “status-quo economy.” Waddell specifically citing an “extremely impotent, dysfunctional legislative process.” A couple of terms you will find in our story – “reflationists” and “secular stagnationists.”

It took a long time to get to the year in commercial real estate the Memphis area is currently having. And seven months into that year, industrial real estate is the name of the game with the other CRE sectors following. It couldn’t have been more than two years ago that we were talking about the lack of new spec industrial development as well as office. Here’s our survey of CRE in the region – the cover story by Patrick Lantrip in the latest edition of our weekly, The Memphis News.

Is a charter school approved by Shelby County Schools with the intention of opening Downtown still an SCS charter if it decides to open instead in Bartlett? That is the question posed by the decision of charter operator Gateway University with a week until the opening of the new school year. More to come on this.

Lakeland Middle Prep School had its formal opening Sunday on Canada Road north of Highway 70 and drew several hundred parents and children to the new $20 million school. And Lakeland Mayor Wyatt Bunker says a new high school without a tax increase is his administration’s new number one goal.

So in this last week before the school year begins there is plenty going on.

Meanwhile Foote Homes has started to come down in advance of the rebuild of South City.

From Tigers basketball summer play Kareem Brewton says he loves contact even if it is with teammates at this point.

A cover story from our Nashville weekly, The Ledger, all about whether children should play football and it includes the NFL’s recently appointed chief medical officer, Dr. Allen Sills, who is a professor of neurological surgery and orthopedic surgery at Vanderbilt University Medical Center. Sills says there is “a lot of room for rule changes and for technique enforcement.” And here is more background on Sills.

More reaction from Memphis City Council members as the week begins to the coming of Instant Runoff Voting or Ranked Choice Voting. Lots of questions and concerns about the city charter amendment approved by voters in 2008.

Meanwhile, in Cincinnati Wednesday, the 6th U.S. Circuit Court of Appeals holds a hearing on Tennessee’s Constitutional amendment stating there is nothing in the constitution that “secures or protects a right to abortion or requires the funding of an abortion.” The 2014 amendment also empowers the Legislature to “enact, amend or repeal” statutes on abortion. The issue in the court case is how votes were counted and how many votes are required to pass such an amendment.

The latest on renovations at the First Tennessee Building Downtown, which have now moved to the 8th floor but still some scaffolding up in the lobby, which shouldn’t stop you from seeing the art collection on display there including the huge Tennessee mural that dominates the bank’s main branch.

The Memphis News Almanac: Selling the Peabody, The Race to the Top of the Tallest Building in The City, Streetcar Fare Goes Up and Bob Miller at the Top of the Charts.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 62 288 2,619
MORTGAGES 52 197 1,783
FORECLOSURE NOTICES 16 53 275
BUILDING PERMITS 0 569 5,701
BANKRUPTCIES 0 87 993
BUSINESS LICENSES 0 110 491
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0