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VOL. 133 | NO. 82 | Tuesday, April 24, 2018

Daily Digest

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Memphis-Based Radians Acquires LFS Glove

Safety Supply Corp., the parent company of Memphis-based safety equipment manufacturer Radians, announced Monday, April 23, it is acquiring LFS Glove from Bellingham, Washington-based LFS Inc.

Financial terms of the transaction were not disclosed.

LFS Glove is the exclusive importer and distributor of Bellingham gloves and other name brands and has been a source for hand protection to the industrial and retail markets for more than 18 years.

The newly formed subsidiary of Safety Supply is registered as Bellingham Glove Inc. and will be part of the Radians group of companies.

“Our acquisition of LFS Glove will help Radians to continue our aggressive expansion of our hand protection category,” Radians CEO Mike Tutor said in a statement. “The combination will provide our customers with an outstanding selection of gloves to meet a multitude of applications in the industrial and retail markets, including lawn and garden gloves, ecofriendly gloves and gloves designed especially for women.”

Once the companies have integrated their systems later this year, customers will be able to buy both Radians products and Bellingham gloves in a single order.

As part of the acquisition, Radians has opened a new sales office for Bellingham Glove Inc. in Bellingham, Washington.

Founded in 1997 in Memphis, Radians manufactures a variety of high-performance personal protective equipment, including safety eyewear, high-visibility apparel, rainwear, hearing protection, eyewash stations and other products. The company has additional facilities in Reno, Nevada; Thomasville, North Carolina; Bellingham, Washington; British Columbia, Canada; and the United Kingdom.

– Daily News staff

Strickland, Haslam Promote Employment Efforts

Memphis Mayor Jim Strickland and Tennessee Gov. Bill Haslam visited several Memphis churches Sunday, April 22, as part of an “Opportunity City” awareness campaign.

The campaign, which began last July at opportunitymemphis.com, has links to thousands of available jobs and information on the state’s last-dollar scholarships offered through the Tennessee Promise and Connect Tennessee efforts.

Meanwhile, Strickland last week launched the HireMemphis youth employment program, whose goal is helping find jobs for teenagers and young adults ages 16-24 during the summer months and beyond.

Strickland estimated 30,000 young Memphians are unemployed and not in school.

“No longer can we stand aside and let our youth believe it’s too hard to thrive in Memphis,” Strickland said in a written statement. “My hope is for this website to be the place to go to find information for professional growth, employment or internships citywide.”

Alex Smith, the city’s chief human resources officer, has been coordinating with local businesses on their participation in the project. AutoZone Inc., International Paper Co. and FedEx Corp. have all agreed to post their openings on the website, HireMemphis.org.

The job postings include each company’s age requirements for hiring (ages 16-17, 18-20, 21-24, or all the above), along with if transportation is provided. Also, the website will offer tools to help with creating resumes, writing cover letters and interviewing.

– Bill Dries

University of Memphis Licenses Speech-Related Intellectual Property

Research conducted at the University of Memphis is helping medical professionals assess speech understanding in Spanish-speaking children.

The U of M’s Office of Technology Transfer recently licensed intellectual property related to research conducted by Dr. Lisa Lucks Mendel and her students in the Speech Perception Assessment Laboratory to St. Louis-based Auditec Inc., which offers auditory test materials for audiologists, psychologists, speech-language pathologists, hearing professionals and other trained medical professionals.

The license to Auditec includes two speech recognition tests developed for use with Spanish-speaking children: the Spanish Pediatric Speech Recognition Threshold Test and the Spanish Pediatric Picture Identification Test. The tests can be used easily by clinics that lack access to bilingual audiologists or interpreters. The recordings present the Spanish target word to the patient while simultaneously presenting the English interpretation to the examiner.

Mendel is the interim associate dean of graduate studies, associate professor of audiology in the U of M School of Communication Sciences and Disorders, and coordinator of admissions.

The Office of Technology Transfer supports faculty conducting cutting-edge research and technology innovations.

The FedEx Institute of Technology houses the OTT as part of a strategic mission to advance technology and research that strengthens the University of Memphis and the city of Memphis’ reputation as a national leader in technology innovation.

– Don Wade

Cumberland Trust Surpasses $3B in Assets Under Administration

Cumberland Trust, an independent corporate trustee serving clients in 48 states with nine offices, including one in Memphis, has surpassed $3 billion in assets under administration.

It’s a major milestone for the firm, which opened a Memphis office in 2003.

Rebecca Halvorson, senior vice president and business development officer, as well as the manager of regional markets who leads the Memphis office, said the number shows that, “In Memphis, our focus on people, their needs, and their values has resonated.”

Cumberland Trust began in 2001 in Nashville as a firm specializing in trust and estate administration. The Memphis office continued that specialization and extended its footprint when it opened two years later. Since it focuses exclusively on being a corporate trustee, not a financial or legal adviser, it opened the door for collaboration with advisers throughout the Memphis area and region.

– Andy Meek

Kosten Foundation Donates $15K to Hope Lodge

The Memphis-based Kosten Foundation for Pancreatic Cancer Support has donated $15,000 to the American Cancer Society Harrah’s Hope Lodge in Memphis to fund a dedicated guest suite. The suite, like those available at Hope Lodges nationwide, is available free of charge for cancer patient and their caregivers who travel to Memphis to receive treatment.

The donation comes on the heels of the Kosten Foundation’s Kick It 5K held this month at Shelby Farms Park. The eighth annual event raised more than $150,000 and drew 1,500 runners, walkers, volunteers, pancreatic cancer survivors and supporters.

Money raised from the Kick It 5K and other Kosten Foundation events helps fund pancreatic cancer research at the University of Tennessee Health Science Center. The foundation has raised more than $1.5 million for pancreatic cancer research and assists with programs such as the Kosten Foundation’s Pancreatic Cancer Support Group, which meets the second Saturday of every month at the Cordova Public Library.

“We have met many out-of-town patients at our free, monthly support group meetings,” said foundation chairman Alan Kosten, “so we are humbled that we can help out-of-town patients and their families better focus on their treatments as Harrah’s Hope Lodge Memphis provides a free place to stay.”

The American Cancer Society operates more than 30 Hope Lodges nationwide. The accommodations include private rooms and bathrooms, with space for a family member or caregiver. Lodges also offer kitchen facilities and rooms for gathering to watch TV or to share encouragement, and transportation to nearby treatment is provided.

– Daily News staff

JA Fundraiser Expected to Garner More Than $300,000

Junior Achievement of Memphis and the Mid-South says its 33rd annual Bowlin’ on the River Bowl-A-Thon drew nearly 3,000 bowlers and is expected to bring in more than $300,000 to support programs for local youths.

More than 100 local corporations and organizations participated in the event, which was held at Billy Hardwick’s All-Star Lanes, Winchester Bowling Center and Collierville’s FunQuest Bowling.

Proceeds from JA’s largest annual fundraiser go toward the organization’s educational programs, which foster work-readiness, entrepreneurship and financial literacy skills among Memphis-area students.

– Don Wade

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 77 77 11,602
MORTGAGES 79 79 13,506
FORECLOSURE NOTICES 0 0 1,858
BUILDING PERMITS 96 96 24,260
BANKRUPTCIES 53 53 7,526
BUSINESS LICENSES 31 31 3,943
UTILITY CONNECTIONS 49 49 4,730
MARRIAGE LICENSES 20 20 2,564

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