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VOL. 133 | NO. 2 | Tuesday, January 2, 2018

Daily Digest

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IMC Cos. Acquires H&M Terminal Transport

IMC Cos., a Memphis-based provider of nationwide intermodal logistics, has acquired the drayage and depot operations of H&M Terminal Transport.

As part of IMC Cos., the new company will operate under the name H&M Intermodal Services and brings the number of brands under the IMC umbrella to nine.

“Like us, the H&M team specializes in container drayage,” Mark H. George, chairman of IMC Cos. said in a release announcing the acquisition. “What’s more, this acquisition enhances our existing national footprint that allows us to handle freight in any major rail or port facility in the United States.”

The acquisition of H&M, which has six locations and 140 drivers, brings IMC’s employee count to more than 2,100 workers nationwide.

Other IMC Cos. include Atlantic Intermodal Services, DNJ Intermodal Services, Gulf Intermodal Services, IMC Global Solutions, Intermodal Cartage Co., National Drayage Services, Ohio Intermodal Services and Progressive Transportation Services.

– Patrick Lantrip

SunTrust Announces Actions In Wake of Tax Reform Bill

SunTrust Banks Inc. has announced a set of actions it’s taking in the wake of the recently passed tax reform bill that include increasing its minimum wage and making grants to communities.

Among the pledges it’s making are a commitment of $50 million in additional community grants to national and local financial well-being efforts; a minimum wage increase to $15 an hour; merit-based pay increases for about 20 percent of its workforce; a 1 percent 401(k) contribution to retirement savings for all workers, in addition to the company’s 6 percent match opportunity; and a $1,000 financial incentive for all workers who complete SunTrust’s Momentum onUp financial fitness program.

SunTrust joins a growing list of companies to announce corporate investments in the wake of the tax reform legislation. Memphis-based First Horizon National Corp., the parent company of First Tennessee Bank, said it will pay one-time $1,000 bonuses in January.

– Andy Meek

Courier Company’s Name Used in Job Scam

Email job offers to work for Able Express Courier Service, a Memphis delivery business, are a scam, according to the Better Business Bureau of the Mid-South.

The fake job offers are going to those who have posted their resumes on legitimate job search sites. They offer jobs receiving and reshipping merchandise the BBB says may have been stolen or purchased with stolen credit cards.

Able does not hire out of state or over the internet, and the company doesn’t handle package forwarding. The scam, which includes a phony website and fraudulent use of the Better Business Bureau logo, is similar to an earlier one in the area that hijacked the name of Green’s Moving & Delivery.

More than 300 people have contacted the local BBB office about the Able scam since the beginning of November.

One victim who shared his personal information with the scammers told the BBB he received a Facebook message from a stranger saying his information had shown up on their Amazon account in an attempt to buy a $1,200 laptop.

Those who have given their personal information to the bogus front company are urged to visit identitytheft.gov, the federal resource for identity theft victims. They’re also asked to file a scam report at bbb.org/scamtracker to help warn others. Victim information is not made public on the scam tracker reports.

– Bill Dries

Unemployment Remains Low In Many Tenn. Counties

Unemployment rates remained low across Tennessee in November, with the vast majority of counties continuing to experience rates below 5 percent, according to Tennessee Gov. Bill Haslam and Department of Labor and Workforce Development Commissioner Burns Phillips.

Shelby County’s rate stood at 4 percent in November, the latest Labor and Workforce Development figures show.

Davidson and Williamson counties in Middle Tennessee tied for the lowest unemployment rate of 2.5 percent.

Middle Tennessee also saw eight of the 10 lowest county unemployment rates in November, with East Tennessee’s Knox and Sevier counties rounding out the rest of the top 10.

All counties in the top 10 had a rate lower than 3 percent, and unemployment rates in 87 Tennessee counties remained under 5 percent in November.

Conversely, Lauderdale County had the highest unemployment rate in November at 5.5 percent, with Rhea and Bledsoe counties rounding out the top three highest rates with a shared 5.4 percent.

“While unemployment rates remain near historically low levels in many counties, there are still areas that need our assistance,” Phillips said. “We are working with other state agencies, like the Department of Economic and Community Development, to create jobs and qualified workforces in those distressed counties.”

– Patrick Lantrip

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 56 308 6,247
MORTGAGES 58 345 7,437
FORECLOSURE NOTICES 0 37 1,152
BUILDING PERMITS 0 556 13,147
BANKRUPTCIES 46 199 4,546
BUSINESS LICENSES 34 120 2,482
UTILITY CONNECTIONS 0 110 2,650
MARRIAGE LICENSES 20 85 1,320

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