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VOL. 133 | NO. 143 | Thursday, July 19, 2018

Daily Digest

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USL Memphis Team Name To be Announced Sept. 1

USL Memphis will soon have a team name. The new professional soccer franchise will unveil its team name and logo Sept. 1. Also part of the day: an exhibition match at AutoZone Park between Tim Howard’s Colorado Rapids of Major League Soccer against Tulsa Roughnecks FC of the United Soccer League at 7 p.m.

This will be the first professional outdoor soccer match in Memphis since 1980; Howard, a Memphis resident and a goalkeeper who has represented the United States Men’s National Team since 2002, has been serving as a consultant for USL Memphis. The first season for USL Memphis kicks off at AutoZone Park next spring.

Fans who have placed a USL Memphis 2019 season ticket deposit, or who place a season ticket deposit, will receive the first opportunity to secure tickets to the exhibition match. Season ticket deposits can be made at USL2Memphis.com/tickets or by calling 901-721-6000.

Single-game tickets for the exhibition, if available, will be for sale to the general public at a later date. More specifics of the logo launch, brand reveal, and exhibition match will be announced in the coming weeks. For details, visit USL2Memphis.com/soccershowdown and follow the team on Facebook, Twitter and Instagram.

– Don Wade

Orion Files Building Permit For New Downtown HQ

Orion Federal Credit Union has filed a $5.8 million building permit application for its new headquarters in the Memphis Medical District.

Located at 400 Monroe Ave., the building permit application for interior build-out lists Montgomery Martin as the project’s contractor.

Orion announced last year it would be the anchor office tenant for the $73 million mixed-use Bakery Development project, which consists of 86 upscale multifamily units, a 480-space parking garage and 150,000 square feet of office and retail space spread out across five parcels, including the former Wonder Bread factory.

– Patrick Lantrip

ServiceMaster Adjusts Earnings Projections

Memphis-based ServiceMaster Global Holdings adjusted its earning projections Tuesday, July 17, ahead of a July 31 earnings call because of a “spike” in contract claims in its American Home Shield division, said ServiceMaster CEO Nik Varty.

The spike was caused by higher-than-expected appliance replacement claims in the second quarter that increased claims costs by $4 million.

ServiceMaster attributes the higher-than-expected claims to “normal inflationary pressure” on the cost of repairs and more work orders driven by “significantly warmer summer temperatures.”

That has impacted ServiceMaster’s net income because there was a higher mix of replacing appliances covered by the warranties instead of repairing them.

As a result, the company is taking a $12 million adjustment to cover the first quarter of 2018 and the second half of 2017. The company is taking the adjustment in the second quarter.

Varty, in a written statement, said the company is taking several actions at AHS “including renegotiating appliance repair costs, increasing pricing to properly reflect the rise in replacements of appliances, and implementing processes to more dynamically price home service contracts.”

“We strongly believe that these actions, combined with new leadership and upgrades to processes that we’re making in connection with the late third-quarter spin of AHS, fully support the long-term attractiveness of the business and positions it for continued strong revenue and earnings growth in the future,” he added.

– Bill Dries

Tigers RB Henderson On Doak Walker Watch List

Junior University of Memphis running back Darrell Henderson was named to the Doak Walker Award Watch List, the second watch list of the week for Henderson, who previously was named to the Maxwell Award Watch List.

Henderson posted the first 1,000-yard rushing season since 2009 for the Tigers last year, finishing with 1,154 yards on 130 carries. His 2017 rushing yards total ranked sixth in the Memphis single season record book, and he enters his junior campaign needing just 334 yards to break into the career top 10 at Memphis.

The Batesville, Mississippi, native appeared in 12 of the Tigers’ 13 games last year, missing the AutoZone Liberty Bowl due to injury. He posted seven 100-plus yard rushing games in 2017, a mark that trails just DeAngelo Williams (34), Curtis Steele (12) and Gerard Arnold (11) in the Tigers’ record book and ties the mark set by M Club Hall of Famer Dave Casinelli. Only Williams and Henderson had seven 100-plus yard rushing games in a single season.

In addition to his threat off the rush, Henderson grabbed 24 catches for 224 yards and two touchdowns. He also ranked second on the squad in kickoff return yards, with 13 returns for 250 yards (a 19.2 average).

Named a Touchdown Club of Columbus Player to Watch for 2018, Henderson is one of three backs from the American Athletic Conference on Wednesday’s watch list. Temple’s Ryquell Armstead and SMU’s Xavier Jones are also featured on the preseason list.

– Don Wade

Highwoods Pulls Permit For Triad Centre Upgrades

North Carolina-based Highwoods Properties has filed a $2 million building permit application for some interior changes at East Memphis’ Triad Centre II building. The application for alterations to the first and third floors lists Highwoods as the owner and Bank of America as the tenant.

Located at 6060 Poplar Ave., Triad Centre II is one of a trio of Class A office buildings along the Poplar Corridor offering more than 100,000-square feet of space.

– Patrick Lantrip

City Auto to Cut Ribbon On Car-Buying Center

On Friday, July 20, City Auto will host a ribbon cutting with the Bartlett Area Chamber of Commerce to unveil its new car-buying center.

City Auto spent $100,000 to renovate its existing facility at 4956 Elmore Road, near Covington Pike Boulevard. The new center will house a new staff focused solely on buying pre-owned cars from people. The four full-time employees will be salaried, instead of working on commission.

“When we discussed pulling out car buying from our everyday dealerships, we had two things in mind,” said Lynsey Freeman, City Auto’s director of marketing. “We wanted to create a unique, pressure-free environment, and we wanted to stay in the Covington Pike corridor.”

According to City Auto principal Stan Norton, the 30-year-old dealership’s renovation on Elmore Road covered four acres of land. It included redoing the east exterior of the building and completely refurnishing the interior.

– Daily News staff

Back Yard Burgers Taps Moe’s Executive as CEO

Nashville-based flame-grilled fast food chain Back Yard Burgers has poached Moe’s Southwest Grill’s vice president of operations as its next CEO.

Scott Shotter was selected by Axum Capital Partners, the private equity firm that owns Back Yard Burgers, after former CEO David McDougall left in May to join Atlanta-based Franintell Inc.

During Shotter’s nine years at Moe’s, he grew the Tex-Mex burrito chain from about 200 fast-casual restaurants to more than 700 locations.

Shotter has also managed operations for more than 30 national and regional brands, including Starbucks, Sbarro, Popeye’s, Johnny Rockets and Burger King.

Memphis is considered Back Yard Burgers’ largest hub, with more than a dozen locations across Shelby County and north Mississippi.

The chain has plans for a new restaurant prototype and a growth strategy to attract a new generation of customers.

“I’m very excited about these plans and it’s one reason I joined the team,” Shotter said. “In addition to the new store prototype, we’re going to focus on the culinary and service experience Back Yard Burgers provides to our customers. We know that our franchise partners are going to be equally excited and we look forward to rolling out what I believe is a well-planned growth strategy.”

Founded in 1987 in Cleveland, Mississippi, as a better-burger concept, Back Yard Burgers has grown to 51 locations across 11 states and offers an expanded menu of grilled chicken sandwiches, salads and hand-dipped milkshakes in addition to 100 percent black Angus beef burgers.

– Daily News staff

PROPERTY SALES 51 223 1,152
MORTGAGES 55 189 861
BUILDING PERMITS 149 541 2,593