VOL. 11 | NO. 11 | Saturday, March 17, 2018
Children’s Museum Names New Executive Director
The Children’s Museum of Memphis has announced the appointment of Stephanie Butler as its new executive director.
Butler will direct all facets of the museum, including education, community relations, operations and development. This will encompass raising funds for the museum’s recent expansion, which includes the restored Memphis Grand Carousel.
She assumed her responsibilities March 5 and succeeds Dick Hackett, who retired from the museum in 2017.
“I love Memphis, and I care about making sure our children have rich learning opportunities to inspire them and set them on a path to life success,” Butler said.
Butler is a native Memphian who is a graduate of Rhodes College as well as Columbia Business School in New York (MBA) and Johns Hopkins School of Advanced International Studies in Washington, D.C. (M.A.).
Much of Butler’s career has focused on community service, particularly in the Memphis area.
She brings significant experience in family and corporate philanthropy and program development, with past leadership roles at organizations such as the Hyde Family Foundations and FedEx Corp.
She joins the museum after a successful tenure as chief strategy officer at United Way of the Mid-South, where she played a key role in its recent transformations in fundraising and grant-making.
She also guided the design and launch of United Way’s Driving The Dream initiative, which engages local agencies as an integrated network to support families in poverty so they can achieve their dreams of economic stability.
– Don Wade
Election Sites Changing For Upcoming Election
The Shelby County Election Commission will vote Tuesday, March 20, on several polling site changes that would take effect with the May 1 county primary elections.
Some polling site changes from one election to another are a regular part of the business of elections.
The proposals the election commission will vote on include moving the Downtown site for early voting from the Election Commission offices at 157 Poplar Ave. to Calvary Episcopal Church, 102 N. Second St.
The entrance for early voting would be from the B.B. King Boulevard side of the building.
Early voting in advance of the May 1 election day is April 11-26.
The election commission will also vote on seven other election day polling place changes. They are:
• Memphis Leadership Foundation, 1548 Poplar Ave., to Mississippi Boulevard Christian Church, 70 N. Bellevue Blvd.
• Holy Nation Ministries, 3533 Old Brownsville Road, to East Side Baptist Church, 3232 Covington Pike.
• Immanuel Lutheran Church, 6325 Raleigh Lagrange Road, to Good Shepherd United Methodist Church, 6050 Summer Ave.
• Harvest Church, 3645 Forest Hill Irene Road, to St. Mark’s United Methodist Church, 8255 Winchester Road.
• Altruria Elementary School, 6641 Deermont Drive, to Bartlett Baptist Church, 3465 Kirby Whitten Road.
• East Win Christian Church, 4350 Hacks Cross Road, to Greater Love Baptist Church, 4439 Hacks Cross Road.
• The 60-06 polling place at Divine Life Church, 2019 Ball Road, would remain there. But the election commission listing would reflect it is now The Truth Church.
– Bill Dries
City Gets Low-Interest Loan For Wastewater Renovations
The city of Memphis will get an $11 million loan from the Tennessee Department of Environment and Conservation for ongoing improvements at the T.E. Maxson Wastewater Treatment Plant in southwest Memphis.
Maxson is one of two plants that handle all of the wastewater from the city as well as unincorporated Shelby County and parts of some of the suburban towns and cities in Shelby County.
The $11 million loan is over a 20-year period with a 0.81 percent interest rate.
The loans are issued through a state revolving loan program that is funded with grants to the state from the Environmental Protection Agency. The state puts up a 20 percent match to get the federal funding.
The loan payments are returned to the program to fund future loans.
– Bill Dries
Health Department Isolates Local Measles Case
An international traveler who arrived in Memphis on Monday, March 12, has been identified by the Shelby County Health Department as having the measles.
The unidentified traveler was immediately placed in isolation after immediately seeking medical care upon arrival in Memphis.
Health Department officials have identified people potentially exposed to the measles through contact with the visitor. The department was in the process Thursday of notifying and monitoring those people.
– Bill Dries
G League Memphis Hustle Sets Franchise Highs
The Memphis Hustle, the G League team of the Memphis Grizzlies, set new season and franchise highs for points (140), three-pointers made (21) and three-point percentage (.568, 21-37) in a 140-112 win against the Sioux Falls Skyforce Wednesday, March 14, at Landers Center.
Seven Hustle players scored in double figures, including all five starters, led by Omari Johnson (27 points, 10-16 FG). Johnson, who registered his fourth 20-point performance in his last five games, also knocked down 7-of-12 three-point attempts.
Tony Mitchell posted a game-high 28 points off the bench while recording six rebounds, five assists and three blocks.
The Hustle’s next home game is on Wednesday, March 21, at 7 p.m. against the Austin Spurs.
Tickets start at $10. Fans can purchase tickets at all Ticketmaster locations, ticketmaster.com, the Landers Center Box Office, online at MemphisHustle.com or by calling 901-888-HOOP.
– Don Wade
Federal Grant of Almost $400K Headed to UTHSC
The National Institute of Arthritis and Musculoskeletal and Skin Diseases has awarded a grant of $392,494 to the University of Tennessee Health Science Center for developmental research on treatments for osteoporosis.
The National Institute of Arthritis and Musculoskeletal and Skin Diseases is the nation’s premier biomedical research agency in its fields, supporting research for the causes, treatment and prevention of arthritis and musculoskeletal and skin diseases.
The institute also trains basic and clinical scientists to carry out this research, and disseminates information on research progress on these diseases.
– Andy Meek
State Lawmakers Revive Child Marriage Ban Bill
A Republican-led Tennessee House panel has revived legislation to ban child marriage.
A House subcommittee advanced the bill Wednesday, March 14, after amending it to let 17-year-olds continue to marry, but only with judicial approval, parental permission, proof of maturity and high school completion, and other requirements.
The subcommittee resurrected the bill after killing it last week. A socially conservative lobbyist argued the bill would interfere with his state legal challenge of same-sex marriage.
The original bill by Democratic Rep. Darren Jernigan would’ve limited marriage to those 18 and older.
The Senate sponsor, Democratic Caucus Leader Jeff Yarbro, says parental consent is enough for 16- and 17-year-olds to marry.
– The Associated Press
Sessions Pledges to Keep Investing in Police Forces
Attorney General Jeff Sessions has pledged to a conference of police leaders that President Donald Trump’s administration will continue to invest in their departments.
Sessions addressed the International Association of Chiefs of Police for about 30 minutes in Nashville on Thursday, March 15.
He focused on the administration’s focus on curbing violent crime.
Sessions also noted a decline in federal prison populations over five years, and said, “We’ve got some space to put some people.”
He said U.S. attorneys are “eager to be unleashed.”
– The Associated Press
Playhouse on the Square Founder Nichols Retiring
Jackie Nichols, the founder of Playhouse on the Square, has retired. The theater board has named Michael Detroit as the new executive producer of the 49-year-old organization that includes Circuit Playhouse and Evergreen Theatre.
Detroit has been interim executive producer since January when Nichols took a leave of absence while the board investigated allegations of sexual misconduct made in December.
Nichols denied any wrongdoing and the theater board hired the law firm Burch, Porter & Johnson PLLC to investigate.
Nichols makes no reference to that in his letter of resignation dated Monday, March 12, which was accepted later that same day by the board.
Nichols said in the letter that he intends to “devote my full energies and attention to consulting for the arts and nonprofit sectors.”
– Bill Dries
Capital Financial Group Completes Move to Tower
Capital Financial Group has moved into the 23rd floor at Clark Tower, where it is now operating from its Memphis headquarters in 14,486 square feet.
Jerry Corless, president of Capital Financial Group, said recent improvements to the high-rise were critical factors in making the move, first reported by The Daily News last year.
“The location is outstanding and when coupled with the improvements to the building, and very reasonable lease rates, Clark Tower was easily our first choice,” Corless said. “Also, meeting with the management/leadership of the property was great as we could better understand their continued commitment to the property.”
Clark Tower’s owner, In-Rel Properties, invested $9 million in renovations and improvements to the office building on Poplar Avenue at Mendenhall Road. The improvements included modernizing common areas and adding pedestrian walkways and a high-tech, 60-person conference room in the lobby.
“The recent upgrades were absolutely a critical move,” Corless said. “We would not have moved there without them.”
Capital Financial Group was operating in about 10,000 square feet in Triad Centre III at 6070 Poplar Ave.
Colliers International Asset Services in Memphis leases In-Rel’s 1.25 million-square-foot office portfolio in Memphis, including Clark Tower.
– Daily News staff
Raleigh Springs Marketplace Sells for $6.2 Million
A large retail strip center across Austin Peay Highway from the former Raleigh Springs Mall has sold for more than $6 million as the city of Memphis prepares to build its Raleigh Town Center concept on the site of the razed mall.
RSM Ventures LLC, which lists an address in Brooklyn, New York, bought the 114,197-square-foot Raleigh Springs Marketplace, at 3425 Austin Peay Highway, from Dallas, Texas-based Tabani Group for $6.2 million, or $54.11 a square foot.
Tabani, doing business as Tabani Raleigh TN LLC, had purchased the Class C center in December 2007 for $7.1 million.
Built in 1983, Raleigh Springs Marketplace sits on 8.6 acres on the west side of Austin Peay south of Yale Road and is anchored by Save-A-Lot and Christ Community Health Services. The Shelby County Assessor of Property’s 2017 appraisal is $5 million.
The sale comes as the city moves ahead with its town center concept where the Raleigh Springs Mall once stood. The project, approved in 2013, includes a new Raleigh branch public library, police and traffic precinct, city-owned skate park and 11-acre lake with a walking trail.
Demolition of the mall wrapped up last year, and the city pulled $25 million in building permit applications in recent weeks for the project.
– Daily News staff
Wynonna to Play Summer Symphony
Summer Symphony at the Live Garden has announced Wynonna will be performing there in May with the Memphis Symphony Orchestra and conductor Robert Moody.
Sponsored by Gossett-Audi, the third annual Summer Symphony is set for May 26.
Wynonna has sold more than 30 million albums worldwide during her 33-year career.
For the Memorial Day weekend concert, guests are encouraged to bring picnic blankets, lawn chairs and coolers for food and beverages. There’s also a firework finale.
Tickets will go on sale April 6 at 10 a.m. through ticketmaster.com or the Memphis Botanic Garden box office.
– Andy Meek
Haslam Joins Chorus Of Concerns Over Tariffs
Gov. Bill Haslam is joining several other Tennessee officials voicing concerns over President Donald Trump’s tariffs on steel and aluminum imports.
The Republican governor told reporters Tuesday, March 13, he’s concerned about additional costs to manufacturers, particularly the state’s car industry. He said that a trade war wouldn’t be good for Tennessee, a manufacturing state.
Swedish appliance maker Electrolux has put on hold a $250 million Tennessee plant expansion, citing the tariff announcement. Other companies are showing similar caution.
Haslam said his sense is those companies hit pause and are waiting to see what happens and what the ramifications are on their cost structure.
Republican U.S. Sens. Bob Corker and Lamar Alexander have opposed the tariffs. Candidates to replace Corker, Democrat Phil Bredesen and Republican Marsha Blackburn, have also expressed concerns.
– The Associated Press
Raleigh Town Center To Break Ground
Construction on the new $28 million Raleigh Town Center begins this month, city of Memphis leaders announced Tuesday, March 13.
The city project is on the site of the demolished Raleigh Springs Mall on the southeast corner of Yale Road and Austin Peay Highway. It will include a new Raleigh branch public library, a new police precinct and traffic precinct, a city skate park and an 11-acre lake with a walking trail.
The town center also includes 20 acres of land to be privately developed.
“The overall location makes it a good option,” said Mary Claire Borys, project director with the city division of Housing and Community Development. “But the pastoral setting would also be really good for health care facilities, like a dialysis or rehab clinic, and for a mini-office park, which could address the low level of good office space in the area.”
Two weeks ago, the city filed $25 million in building permit applications for the project.
The plans submitted to the Office of Construction Code Enforcement included the $18.2 million police precinct, $6.1 million library branch and $800,000 skate park.
The project has taken six years to get to this point, with city council member Bill Morrison pushing for the concept through several versions.
It was also one of three town centers the city envisioned in different areas that would mix private development and retail with government uses.
The difficulties included multiple owners of different parcels of the mall footprint and a dispute with the owners of the mall who contended the city efforts were undercutting their bid to find new retail tenants for the mall.
The town center is scheduled to be completed in June 2019.
– Bill Dries
Riviana, Ebrofrost Plan South Memphis Expansion
Riviana Foods’ South Memphis rice facility is growing again. The Houston, Texas-based company has filed a $3.1 million building permit application for site work at the 2360 Prospect St. plant it shares with Ebrofrost North America, the U.S. arm of German rice and pasta manufacturer Ebrofrost Holding GmbH.
The two companies partnered about a year ago on plans for a multimillion-dollar facility to process and distribute frozen rice, pasta and grain products. The plans included Ebrofrost leasing and renovating part of Riviana’s 1970s-era Prospect Street facility, which is just southwest of The Links at Pine Hill golf course, and building a new warehouse onto the building.
The permit comes after the Economic Development Growth Engine board on Feb. 21 approved an application to amend the payment-in-lieu-of-taxes incentive it awarded Ebrofrost last April. Originally, the company was awarded a seven-year PILOT for the project, which was to include a $26 million capital investment and create 16 jobs with a median base salary of $48,477.
The amendment increases the PILOT to eight years after the company increased the capital investment to $26.5 million, with plans to create 19 new jobs with a median salary of $60,654.
– Daily News staff
Feds Award $570K For Civil Rights History Projects
The U.S. Department of the Interior and the National Park Service announced $570,000 in funding Monday, March 12, for three projects that focus on the history of the civil rights movement in Memphis.
The largest of the grants is $500,000 to help fund the restoration of Clayborn Temple, the church south of FedExForum that was a staging ground for the daily marches by striking sanitation workers in 1968.
A $50,000 grant will go toward a summer institute to train teachers on a Memphis Heritage Trail curriculum. The trail is a set of historical sites significant to not only the civil rights movement but also black history in the city dating back to the 19th century.
Both of those grants are to the city’s Housing and Community Development division.
Another $20,000 grant was awarded Monday to the National Trust for Historic Preservation, which also is working on the restoration of the church.
– Bill Dries
Memphis Medical Orgs Get $1.2M in Research Grants
More than $1.2 million in federal grant money is on its way to Memphis for medical research efforts.
The U.S. Department of Health and Human Services has awarded new research grants to St. Jude Children’s Research Hospital, the University of Tennessee Health Science Center and Healthchart LLC, a Memphis firm that manufactures diagnostic medical equipment.
An $856,730 grant is going to St. Jude for allergy, immunology and transplantation research. UTHSC is getting a $76,000 grant to fund clinical research related to neurological disorders. And Healthchart LLC has been awarded $299,397 for cancer detection and diagnosis research.
– Andy Meek
NFIB: Optimism Soaring Among Small Businesses
Small-business owners are showing unprecedented confidence in the economy as the optimism index continues at record high numbers, rising to 107.6 in February, according to the NFIB Small Business Economic Trends Survey released Tuesday, March 13.
The historically high numbers include a jump in small-business owners increasing capital outlays and raising compensation.
“When small-business owners have confidence and certainty in the economy, they’re able to hire more workers and invest in their business,” said NFIB president and CEO Juanita Duggan in a release. “The historically high readings indicate that policy changes – lower taxes and fewer regulations – are transformative for small businesses. After years of standing on the sidelines and not benefiting from the so-called recovery, Main Street is on fire again.”
The 107.6 optimism reading is matched only by similar high readings in 2004 and 2005 before the Great Recession.
For the first time since 2006, taxes received the fewest votes as the No. 1 business problem for small businesses. The February report shows several components of the index reached noteworthy highs.
In a sign that small businesses are confident and expect growth, owners are spending capital with a net 22 percent planning to raise worker compensation and 66 percent reported capital outlays, up 5 points from January and the highest reading since 2004.
Moreover, owners expecting higher real sales rose 3 points to a net 28 percent, one of the best readings since 2007. Owners also reported higher nominal sales in the past three months at a net 8 percent of all owners.
The net percent of owners reporting inventory increases rose 3 percentage points to a net 7 percent on top of a 6-point rise in January.
– Daily News staff
St. Jude Raises $108 Million Through Holiday Campaign
St. Jude Children’s Research Hospital raised more than $108 million during the 14th annual St. Jude Thanks and Giving holiday fundraising drive, the hospital reported Monday, March 12.
Throughout the holidays, shoppers donated at more than 70 corporate partners representing a cross-section of industries. New partners, including Joann, Peeks and HomeSense, joined returning campaign partners Best Buy, Kay Jewelers, Domino’s, Kmart, HomeGoods, Ann Inc., Chili’s Grill & Bar, AutoZone, New York and Co., Williams-Sonoma Inc. and others.
Best Buy once again led all partners, raising $20 million, according to St. Jude. Over the past five years, Best Buy has raised $57 million for the hospital.
Celebrity supporters – including Jennifer Aniston, Sofia Vergara, Michael Strahan, Jimmy Kimmel and Luis Fonsi, among others – joined St. Jude national outreach director Marlo Thomas in raising awareness for the campaign. Thomas’ father, Danny Thomas, founded St. Jude more than 50 years ago.
The campaign also received weeklong exposure from NBC’s “Today” show, which aired several in-depth stories chronicling the journey of St. Jude patients and the discoveries that made them possible. In addition, theater partners, including AMC, Cinemark Holdings Inc., Regal Entertainment Group and others, showed a star-studded St. Jude Thanks and Giving movie trailer.
– Daily News staff
North Wastewater Plant Resumes Partial Operations
Memphis’ north wastewater treatment plant began partial operations Sunday, March 11, with the plant expected to resume full operations by Friday, city public works director Robert Knecht said Monday.
The Maynard Stiles Wastewater Treatment Plant shut down Thursday after a surge of flood waters as well as mechanical and electrical problems combined to disable three motors in a well at the plant.
The water in the basin in the area came through manholes at nearby General DeWitt Spain Airport and almost made it onto the runway. The flooding was contained and the airport was closed for several hours Saturday into Sunday.
Knecht said workers at the treatment plant were able to get a spare pump motor installed and running by noon Sunday to make the treatment plant partially functional.
But tens of millions of gallons of wastewater sewage is still being pumped raw and untreated into the Mississippi River. Since then other pumps have been brought in to work on the back up of the untreated wastewater.
“We brought up 18 to 20 pumps to then pump what was happening … into the Mississippi River,” Knecht said. “We notified the state and explained to them the circumstances – that we had no other alternative. We had to protect the property.”
All three of the well pump motors – weighing 25,000 pounds each – are now being repaired.
The north plant normally treats 150 million gallons of wastewater a day that then goes into the Mississippi River.
Knecht put a preliminary cost of the repairs at $5 million to $6 million that comes from the city’s sewer fund – an enterprise fund consisting of revenue specifically from sewer fees.
He has said there will be some kind of penalty for the city’s dumping of untreated wastewater into the Mississippi River.
– Bill Dries
Overton Square Inks Cake, Pastry Business
Loeb Properties Inc. has signed a new tenant at 2094 Trimble Place in Overton Square.
Pastry and cake bakery 17 Berkshire is taking 1,038 square feet, with plans to open this spring. Construction on the buildout of its space is ongoing.
Aaron Petree, vice president brokerage for Loeb Properties, represented the landlord in the transaction.
Local owner Nuha Abuduhair has operated 17 Berkshire since 2015. It specializes in elegant cakes, macarons, pastries and chocolates. The name comes from the address in Memphis where she grew up.
In its new Overton Square storefront, 17 Berkshire will feature Abuduhair’s handmade pastries served with specialty artisanal teas and coffees, along with a curated selection of boutique items.
The bakery also offers custom celebration cakes and pastries available by special order.
– Daily News staff
Ninth Annual Tour de Grizz Scheduled for April 8
The Memphis Grizzlies and BlueCross BlueShield of Tennessee are continuing the annual tradition of encouraging Grizzlies fans to consider alternative and healthy choices by taking part in the ninth annual Tour de Grizz bike ride on April 8, before the Grizzlies play the Detroit Pistons at 2:30 p.m. at FedExForum.
Packages start at $25 and include a terrace-level ticket to that day’s game, a Memphis Police Department escorted bike ride to and from the game and a Tour de Grizz T-shirt to commemorate the event.
Participants are encouraged to join the group prior to the ride for music and entertainment from noon to 1 p.m. on the north side of the Tennessee Welcome Center (191 Riverside Drive) before hopping on their bikes for a 1.5-mile ride to FedExForum to see the Grizzlies take the court in the final home matchup of the regular season.
Riders in the Tour de Grizz will depart from the welcome center at 1:15 p.m. and be accompanied by MPD escorts. Once the riders have reached the arena, they will have complimentary “bike valet parking.” Following the game, fans will take a group ride back to the park.
All participants must be at least 10 years old to ride their own bike and are required to provide their own bike and safety equipment, including a helmet and lights. The Tour de Grizz will take place rain or shine. Fans who have already bought a ticket for the April 8 game can join the ride by calling 901-205-1436 or visiting grizzlies.com.
– Don Wade
Year Starts Lower For Tunica Casinos
The new year hasn’t started the way Tunica casinos might have liked.
Figures from the Mississippi Gaming Commission for January show gross gaming revenue declined from January 2017 by about 13.4 percent, from $44.8 million to $38.8 million.
In January of 2016, the Tunica casinos reported gross gaming revenue of $53.5 million.
Throughout Mississippi, gross gaming revenue at the Northern (Tunica), Coastal and Central casinos tracked by the commission slipped by 9 percent year-over-year in January, declining from $166 million to $151.4 million.
The Tunica properties have continued to see declines since the Great Recession and had a particularly difficult year in 2011 when massive flooding from the Mississippi River caused the casinos to close down for several weeks.
Some gaming patrons who visited Southland Park Gaming & Racing in West Memphis, Arkansas, during that time may not have returned to gamble in Tunica. Southland Park has seen business increase over the past decade as revenue has declined in Tunica.
– Daily News staff
Southwest Adds Nonstop MEM Service to Denver
Southwest Airlines has announced that it will begin a new nonstop route from Memphis International Airport to Denver International Airport effective Oct. 3.
The daily flights to and from Denver will operate out of a 143-seat Boeing 737 aircraft.
The new nonstop flight is Southwest’s seventh destination from MEM, joining Baltimore, Chicago, Dallas, Houston, Orlando and Tampa.
“We are excited to see Southwest expanding its presence at MEM,” Pace Cooper, chairman of the Memphis-Shelby County Airport Authority board, said in a release. “This provides our passengers with another option to connect to Denver and will increase one-stop connectivity to the West Coast.”
More information about this flight can be found at flymemphis.com/flights
– Patrick Lantrip
Arlington High Partners With UT-Martin on Nursing
Arlington High School, in partnership with the University of Tennessee at Martin, is expanding its Health Science Career Cluster to now include pre-nursing.
Beginning in the coming 2018-2019 school year, students can enroll in the Special Topics: Pre-Nursing class as a dual enrollment course worth three college-level credits.
“We are thrilled to team with UT-Martin to provide what we believe will be a very popular program at Arlington High,” said superintendent Tammy Mason. “So many of our students want to pursue nursing in college, and this class will help provide a critical foundation for our students interested in this field.”
Brian Donavant, interim executive director at the Office of Educational Outreach at UT-Martin, called the partnership is a win-win for both institutions.
“We are excited to partner with Arlington Schools to facilitate student success and help ease the transition from high school to college,” Donavant said.
The new course joins the existing Emergency Services Program in partnership with the Town of Arlington.
Students will begin with levels 1-3, which include Health Science Education, Anatomy and Physiology, and Medical Therapeutics. Once completed, students in their senior year can choose one of two paths: Nursing Services or Emergency Services.
The course, which will be taught in person by a UT-Martin professor, is designed to introduce students to the world of nursing, including professional nurse practices, pharmacology, how to monitor blood pressure and heart rates and much more.
UT-Martin said it is the first time the university has offered the course on-location inside a high school.
Mason said the district is excited about the change from an online only to in-person program.
– Daily News staff
U of M Getting Technology Infrastructure Upgrade
The University of Memphis is conducting a $6.6 million upgrade to its network to improve speed, reliability and security for students, faculty, staff and guests. The U of M has selected Aruba Networks to provide equipment for the network upgrade.
“This investment in our technology infrastructure underscores the university’s commitment to academic and research missions, and will enhance student success by providing an improved network experience as well as capacity for future growth,” said Robert Jackson, U of M chief information officer.
The upgrade will improve the network experience at all campus locations by increasing network performance; improving reliability and security; enhancing manageability for emerging technology needs and challenges; and building capacity for future growth.
The number of wireless access points at all campus locations will increase by 44 percent, and the network infrastructure will be upgraded to support a minimum speed of 10 gigabits.
The project kickoff is slated for this month.
– Don Wade
Memphis Investment Firm Wins Industry Award
Highland Capital Management in Memphis has been awarded a Top Guns designation by Informa Investment Solutions’ PSN manager database, North America’s longest-running database of investment managers.
The recognition is based on the performance of Highland’s Core Fixed Income product for quarter ending Dec. 31. That product provides a broad, financial analysis of its client assets, allowing market inefficiencies to be fixed and creating value for clients.
The PSN Top Guns rank, with six possible categorical achievements in over 50 different spheres, is acquired through performance screenings and detailed judging criteria. Companies are given a rating of one to six stars, with the number of stars representing continued performance over time.
A subsidiary of Argent Financial Group, Highland Capital Management was established in 1987 and manages nearly $2.96 billion in assets for individuals, foundations, endowments, private, public and corporate sectors including equity, fixed income portfolios and exchange-traded funds.
– Andy Meek