Memphis Business Journal

Subscribe to Memphis Business Journal feed
View Breaking Local News Headlines in Memphis from the Memphis Business Journal. Access business resources, company profiles, business advice columns, local jobs and more.
Updated: 1 hour 8 min ago

From Memphis to the Supreme Court: The case that may uncork a wave of wine sales

8 hours 45 min ago
If you enjoy exploring the many vintages and nuances of wine, pay attention: The U.S. Supreme Court heard arguments today in a case that could bring the multibillion-dollar wine industry closer to your doorstep. This week's arguments stem from a Tennessee dispute, Tennessee Wine and Spirits Retailers Association v. Blair, over wine sales across state borders and the labyrinth of post-Prohibition laws limiting how alcohol-based beverages can be sold to consumers. Now, the nation's highest court considers…

Why home prices have risen 50 percent in one Memphis neighborhood

9 hours 7 min ago
A story about investors, bank regulations, and — oddly enough — billboards.

FedEx 'leverages' relationship in Israel, announces acquisition

9 hours 28 min ago
FedEx Express will solidify its presence in Israel via an acquisition. Memphis-based FedEx Express — a subsidiary of logistics and delivery giant FedEx Corp. — announced Jan. 15 plans to acquire the International Express business of Israel-based Flying Cargo Group. FedEx Express and Flying Cargo Group have worked together via a service agreement for the past 30 years. The acquisition news was released just as that agreement nears its expiration. “Israel has been and remains an important…

Memphis docs running clinical trial on Cholesterade

9 hours 41 min ago
Few things are more synonymous with sports than a performance drink created by Dr. J. Robert Cade. His beverage, Gatorade, became a multibillion-dollar product with benefits touted to help athletes gain an edge on the scoreboard. Cade's other drink supplement, Cholesterade, doesn't have the sports connection, a catchy name, or celebrity endorsements behind it. But, it may offer more important benefits. Cade’s high cholesterol led to his research on that health risk in the 1990s at the University…

How Delta is using brand innovation to push premium products

10 hours 2 min ago
Delta wants to be more than an airline. It wants to be a consumer brand, and it is mainly doing so by significantly improving its onboard experience and upcharging customers looking for better seats or extra legroom.

Lee taps leader of Nashville construction firm to run TDOT

10 hours 23 min ago
The man who was running the busiest construction company in Nashville will run the Tennessee Department of Transportation under Governor-elect Bill Lee. On Jan. 15, Lee announced that he chose Clay Bright to lead the transportation department. Lee and his Cabinet members will be sworn into office Saturday. Bright, a Davidson County resident, was most recently regional vice president for Brasfield & Gorrie. Click here to read a Q&A with him from 2017, a year in which Brasfield & Gorrie reeled in…

See inside: Downtown Hilton Garden Inn ready to open

16 hours 17 min ago
The new Hilton Garden Inn on Union Avenue is set to open this week. Located, just across from AutoZone Park, the hotel's 150 rooms feature views of the park and the proposed Canopy Hotel site. The hotel bar, The Greyhound, is an homage to the Greyhound Lines station that used to be located at the site. Separate from the bar is a restaurant that will serve breakfast, lunch and dinner. Developed by Chattanooga's Vision Hospitality Group Inc., the hotel also includes a small swimming pool, a 1,200-square-foot…

Doc's liquor store bucks trends, signs new lease at expanding Carrefour

16 hours 18 min ago
Gill said his only guess about the source of some of the rumors about the liquor store leaving comes from people seeing the final plans last fall for the major Carrefour redevelopment and not understanding that those plans have been forming for a long time.

Sports, media power player aims to bring Major League Baseball to Nashville

17 hours 17 min ago
A new-to-Nashville businessman, who cites high-powered connections in sports and business, is spearheading an effort to bring a Major League Baseball team to Nashville. Music City Equity Group, formed by John Loar, is emerging in the wake of the mid-2018 revelation by the league's commissioner, Rob Manfred, that Nashville is on the league's short-list of potential expansion cities. While Major League Baseball hasn't announced a specific timetable for when it might add two teams to its ranks, Manfred's…

'Our job is not done:' Strickland running for reelection, with substantial war chest

Tue, 01/15/2019 - 14:54
Memphis Mayor Jim Strickland is officially running for reelection, announcing Tuesday, Jan. 15, that he would seek another term. "Memphis has momentum, and I think our administration has played a large role in that. Our job is not done. I think we need another four years to expound on what we've done. … We have real challenges and I think we've made real progress on some of those challenges. I think we can substantially tackle them in a second term," said Strickland in an interview with MBJ.…

Another spec warehouse developer enters Memphis market

Tue, 01/15/2019 - 14:45
A young industrial development firm is entering the Memphis market, with hopes for multiple speculative projects.

Amazon heads to Nashville's Metro Council: What to watch for

Tue, 01/15/2019 - 14:40
In November, Amazon.com Inc. surprised many when it revealed plans to bring 5,000 high-paying jobs to Nashville. And, while it might be the state's largest economic development victory to date, city officials haven't been immune from pushback, particularly as it relates to corporate incentives and the company's potential impact on the fast-changing city. Tonight, three Amazon-related bills head to Nashville's Metro Council. City officials have agreed to pay the company $500 per new job created…

Downtown hotel to open new restaurant and bar

Tue, 01/15/2019 - 14:06
A rebranded Downtown hotel is on the verge of welcoming patrons to its new flagship, seven-days-a week restaurant and bar. Hu. Hotel, located at 79 Madison Ave., is ready to open the doors to its Hu. Diner Friday, Jan. 18. Jose Nieto, general manager of Hu. Hotel, said the hip “fine diner” will be open for lunch and dinner, while offering guests and Memphians alike an every day option for elevated dinner fare. “The team is excited to bring this great dining option to Downtown Memphis,”…

Update: Pharmaceutical firm to lay off 225 Memphis workers

Tue, 01/15/2019 - 12:42
This story has been updated to clarify the amount of workers that will be impacted by the restructuring at the PharMEDium facility in Memphis. PharMEDium Healthcare Corp. plans to lay off 225 workers at its Memphis facility by March, the company disclosed last week. It will retain 215 positions of the 440 at the plant. The compounding intravenous product manufacturer filed a Worker Adjustment and Retraining notice (WARN) with the Tennessee Department of Labor and Workforce on Jan. 11. The…

Outgoing SCS superintendent questions city attitude toward school funding

Tue, 01/15/2019 - 11:20
"Even though you may not be in the education funding business, when those kids who drop out end up in the Memphis criminal justice system, that’s a failure for everybody."

Early details emerge for Thornwood's final phase

Tue, 01/15/2019 - 10:04
With Thornwood's long-anticipated fifth phase finishing soon, developer Spence Ray is preparing to embark on the sixth and final phase of the project.

FedEx settles with NYC over cigarette shipments

Tue, 01/15/2019 - 07:31
The back-and-forth between FedEx Corp. and New York state over the shipment of cigarettes has seemingly come to an end. Memphis-based FedEx (NYSE: FDX) agreed to pay $35.3 million to settle lawsuits in which New York state and New York City accused the company of shipping hundreds of thousands of untaxed cigarettes to residents over a decade. New York prosecutors alleged that FedEx knowingly violated a federal anti-cigarette trafficking statute and a 2006 agreement with the state not to do business…

Fox won’t buy back regional sports networks, including Grizzlies broadcaster

Tue, 01/15/2019 - 06:20
Twenty-First Century Fox Inc. has taken itself out of the running to buy back the regional 22 sports networks that it is selling to The Walt Disney Co. The company, which is preparing for its new Fox Corp. division after Disney (NYSE: DIS) closes its $71 billion acquisition of Fox’s entertainment assets early this year, confirmed in an SEC filing “that it does not intend to bid for any of the Fox regional sports networks that Disney (or any entity operating on its behalf) may sell as required…

J.P. Morgan exec says volatility may continue, but growth opportunities remain strong

Mon, 01/14/2019 - 14:50
When Brooke Cooper joined JPMorgan Chase in June, she was tasked with leading the Northeast region for corporate client banking and specialized industries within commercial banking. That means she's the go-to person for comprehensive banking solutions. Her team also works alongside other lines of businesses within the corporation, such as investment banking and asset and wealth management. Banking pros would be wise to hear Cooper's thoughts on current market trends and what to expect in 2019.…

Delivery and assembly: FedEx piloting new service for bulky items

Mon, 01/14/2019 - 14:47
According to a recent article by Bloomberg, FedEx Freight — a subsidiary of Memphis-based logistics and delivery provider FedEx Corp. — is testing full-service residential delivery of bulky items.   When asked by the Memphis Business Journal about this reported pilot program, FedEx Freight provided the following statement from spokeswoman Bonny Harrison. The same statement was given to Bloomberg.  A FedEx Freight spokesperson went on to say FedEx Freight Direct was currently being piloted…

Pages