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Pinterest, Ahead of I.P.O., Reveals Fast Growth and Losses

NYT Technology - Fri, 03/22/2019 - 15:54
The start-up, which lets people create virtual “pin boards,” officially joined the herd of tech companies stampeding to the public markets this year by unveiling its offering prospectus.

Tesla Sales Slump as ’19 Starts Is Hinted At in State Data

NYT Technology - Fri, 03/22/2019 - 15:06
A compilation of state data indicates a big decline for the electric-car maker after a federal tax credit was reduced.

AutoZone Park sees $2 million in stadium upgrades

Memphis Business Journal - Fri, 03/22/2019 - 14:48
Almost $2 million in improvements, upgrades, and renovations took place in the off-season to AutoZone Park. In fact, Craig Unger, president of the Memphis Redbirds and Memphis 901 FC soccer team, said hardly any area of the stadium went untouched. According to a release, changes included a complete overhaul of the camera and video system, with the action now shown in full high definition on AutoZone Park's large videoboard. Other off-season additions were brand new locker rooms and a training…

Specter of Electrolux haunts local economic development initiatives

Memphis Business Journal - Fri, 03/22/2019 - 14:42
The discussion — and angst — over allocating $150,000 out of Shelby County's $400+ million general fund reflects how the conversation has changed over the past months.

Clark Tower sale delayed

Memphis Business Journal - Fri, 03/22/2019 - 14:15
Clark Tower was not sold on the courthouse steps Friday, as scheduled. Instead, the sale of the 34-story tower was delayed until April 26. No reason for the delay was given, but the property is involved in two ongoing legal actions. In one, building owner In-Rel Properties is suing its lender for not allowing it to refinance. In the other, the trust that holds the loan is asking the U.S. District Court for the Western District of Tennessee to appoint CBRE as receiver of the property and to provide…

Memphis TV stations acquired as part of $740M Tegna deal

Memphis Business Journal - Fri, 03/22/2019 - 14:11
Memphis' local ABC and CW affiliates are being sold, along with 9 other television stations, in a $740 million cash deal between Tegna Inc. and Nexstar Media Group. Virginia-based Tegna said it would finance the transaction through available cash and borrowing under its existing credit facility. Tegna president and CEO David Lougee said in a statement the stations are “a strategic and financial fit” for the company and bring “geographic diversity” to Tegna’s portfolio. He added that…

Malco/Loeb's Overton Square lawsuit concludes

Memphis Business Journal - Fri, 03/22/2019 - 13:56
Malco Theatres has settled its lawsuit against Loeb Properties regarding parking and maintenance fees at Overton Square. The lawsuit, which was reported by multiple media outlets last spring, was settled in late September. That settlement, which has not yet been reported, happened out of court, keeping its details out of the public record. Butler Snow's Daniel Van Horn, who represented Malco, said his client "is very pleased with the outcome." He declined to comment further. Loeb spokesperson…

Top of the Market: $1 million homes in Eads and Germantown take top spots

Memphis Business Journal - Fri, 03/22/2019 - 13:46
This week's home sales roundup is lead by two homes that sold for more than $1 million — and one that sold for just $1,000 less. The top home, an 8,400-square-foot Eads mansion, sold for $1.25 million. The 2011 house — located on Monterey Oaks Cove in ZIP 38028 — has six bedrooms, seven full bathrooms, and two half bathrooms. A new home on S. Winston Woods Circle in Germantown's ZIP 38139 was No. 2, selling for about $1.1 million. The size of the new home was not yet listed on the Shelby…

Bits: The Week in Tech: Our Future Robots Will Need Super-Smart Safety Checks

NYT Technology - Fri, 03/22/2019 - 08:00
Software looks to be at the heart of the recent Ethiopian Airlines crash. Safety approval of such systems will only get harder as technology advances.

Oak Court executives stress property's success, thinking 'outside the box'

Memphis Business Journal - Fri, 03/22/2019 - 06:55
"The word 'mall' in this day and age is obsolete, and we know that. It's why we have to be extremely diverse in our tenant mix, create awesome events, [and attract] local eateries."

Editorial: GTx's fall is not a failure

Memphis Business Journal - Fri, 03/22/2019 - 05:00
Entrepreneurs of all types strive to create new solutions to old problems, and that always comes with risk of failure — and not just with untested drugs. One shouldn’t stop striving to create something new, no matter the industry, just because it might not work out.

GTx leaves behind 'pool of battle-hardened talent' ready to help next gen of startups

Memphis Business Journal - Fri, 03/22/2019 - 05:00
“Venture capital prefers to fund experienced leadership teams that have been through challenging times. A failed biotech is a merit badge, not a black mark.”

The Great American Cardboard Comeback

NYT Technology - Fri, 03/22/2019 - 04:00
‘No one is shocked when a paper mill closes anymore. The shocking thing is when one reopens.’

A.I. Can Improve Health Care. It Also Can Be Duped.

NYT Technology - Thu, 03/21/2019 - 18:47
As medical insurers and billing companies begin using machine-learning software, they can learn to game the underlying algorithms for profit.

In New Zealand, Spreading the Mosque Shooting Video Is a Crime

NYT Technology - Thu, 03/21/2019 - 16:12
The charges came as Prime Minister Jacinda Ardern vowed to investigate the role that social media companies played in mosque massacres last week.

Tech Fix: Facebook Did Not Securely Store Passwords. Here’s What You Need to Know.

NYT Technology - Thu, 03/21/2019 - 14:57
Facebook said it had found no evidence of abuse and it was not requiring users to change their passwords, but you should do it anyway.

Large East Memphis golf shop moving further east

Memphis Business Journal - Thu, 03/21/2019 - 14:20
A golf shop with a longtime East Memphis presence is relocating a little bit further east. Edwin Watts Golf will lease an 11,000-square-foot space in between REI and PetSmart at Ridgeway Trace Center, on Poplar Avenue and I-240. The move will happen "later this year," according to a press release. In doing so, Edwin Watts will decamp from its current location in the Poplar Collection shopping center at 4625 Poplar Ave., where it has been since 1998. Weingarten Realty operates Ridgeway Trace, which…

Guest column: Workforce development can help Memphis maintain momentum

Memphis Business Journal - Thu, 03/21/2019 - 14:05
Good things are happening in Memphis.  ServiceMaster, FedEx, and Indigo Ag have made large investments to grow their businesses Downtown. Transformative construction projects, such as One Beale and Union Row, are beginning to take shape. And, Frommers recently included Memphis on its “Best Places to Go in 2019” list, raising the profile of our tourism industry. Positive momentum certainly seems to be building. Of course, Memphis continues to have significant challenges. Despite some improvement,…

Vanishing act: Once a large local employer, Valenti is nearly gone

Memphis Business Journal - Thu, 03/21/2019 - 13:57
Valenti Management reported having almost $75 million in revenue and 1,700 local employees in 2015. Now, it has almost no Memphis presence remaining.

Rent the Runway Now Valued at $1 Billion With New Funding

NYT Technology - Thu, 03/21/2019 - 12:54
The company, known for lending designer dresses for special occasions, says its goal is to “create the Amazon Prime of rental.”

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