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Another spec warehouse developer enters Memphis market

Memphis Business Journal - 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

Memphis Business Journal - 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

Memphis Business Journal - 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,”…

Huawei’s Reclusive Founder Rejects Spying and Praises Trump

NYT Technology - Tue, 01/15/2019 - 13:14
Ren Zhengfei, C.E.O. of the Chinese tech giant, said he would wait to see if President Trump intervened in the case of his daughter, who is accused of fraud.

Nonfiction: Tracing the Rise of a Guardian Hacker

NYT Technology - Tue, 01/15/2019 - 13:00
In “Breaking and Entering,” Jeremy Smith tells the story of a brilliant, larger-than-life computer scientist who runs her own boutique cybersecurity firm.

Update: Pharmaceutical firm to lay off 225 Memphis workers

Memphis Business Journal - 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…

Alan R. Pearlman, Synthesizer Pioneer, Dies at 93

NYT Technology - Tue, 01/15/2019 - 12:38
Mr. Pearlman’s ARP synthesizers were once ubiquitous in pop and electronic music. By the mid-1970s, they commanded 40 percent of the market.

Outgoing SCS superintendent questions city attitude toward school funding

Memphis Business Journal - 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

Memphis Business Journal - 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.

In Portland, Scooter Start-Ups Played Nice. Regulators Took Note.

NYT Technology - Tue, 01/15/2019 - 08:00
Three companies agreed to a pilot program with city. The results showed environmental benefits but left unanswered what tight controls mean for profits.

FedEx settles with NYC over cigarette shipments

Memphis Business Journal - 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

Memphis Business Journal - 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…

Huang Qi, Online Dissident and Rights Advocate in China, Faces Trial

NYT Technology - Mon, 01/14/2019 - 21:18
The case of the blogger behind the popular website 64 Tianwang has drawn intense international scrutiny, in part because he has a kidney disease.

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

Memphis Business Journal - 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

Memphis Business Journal - 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…

Memphis Police and Fire unions propose sales tax hike to pay for benefits

Memphis Business Journal - Mon, 01/14/2019 - 14:08
The Memphis Police Association and Memphis Fire Fighters Association want voters to raise the City of Memphis sales tax by half a percent, from 2.25 percent to 2.75 percent, to restore cuts to benefits and pension plans for public safety workers as well as to fund road-paving and prekindergarten with money left over. The two unions held a news conference Monday, where they said they had more than 140,000 signatures on petitions that would force the City of Memphis and Shelby County Election Commission…

After delays, Thornwood sets move-in dates for restaurants, residents

Memphis Business Journal - Mon, 01/14/2019 - 13:48
Last February, Thornwood developer Spence Ray told the Memphis Business Journal that the project's 250-unit apartment complex and 148,000-square-foot mixed-use building were set to open by the end of summer 2018. That didn't quite happen. "With the weather and the type of construction it is ... we didn't have our arms around the schedule as much as we would have liked," Ray said Thursday, Jan. 10 Neither the apartments nor the mixed-use building have opened, but things are moving quickly now…

Digital First Media targets Commercial Appeal, USA Today owner Gannett

Memphis Business Journal - Mon, 01/14/2019 - 12:17
MNG Enterprises, which owns one of the largest print media groups in the U.S., wants to buy The Commercial Appeal and USA Today owner Gannett. The company, which goes by Digital First Media, proposed on Monday a takeover where it would pay $12 per share in cash. The deal would value Gannett at $1.36 billion. MNG chairman Joseph Fuchs penned the letter, stating that Gannett (NYSE: GCI) has "not been successful as a public company investment." He continued: MNG owns some 200 publications, including…

New nonprofit created to expand local pre-K

Memphis Business Journal - Mon, 01/14/2019 - 12:14
A new nonprofit will help manage the public and private dollars used to fund pre-kindergarten and other poverty-fighting education initiatives. Along with the City of Memphis and Shelby County, local education nonprofit Seeding Success announced Monday, Jan. 14, the formation of First 8 Memphis, a new 501(c)3 that will receive and administer the funding for retaining 1,000 existing pre-K seats, funding 1,000 more seats and, in the future, providing a host of services that benefit poor families…

Who Owns Memphis: The wilds of Collierville

Memphis Business Journal - Mon, 01/14/2019 - 09:41
Under various entities, one company has been for decades and remains a large landowner in the area.

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