Memphis Business Journal

BlueCross BlueShield of Tennessee (BCBST) is changing its in-network hospital system next year for some of its Memphis members. Effective Jan. 1, 2018, Baptist Memorial Health Care Corp. hospitals will replace Methodist Le Bonheur Healthcare hospitals as the in-network hospitals for BCBST Network S in the Memphis area. Le Bonheur Children's Hospital will stay in-network for the plan. Methodist facilities will remain in-network for BCBST members in Blue Network PSM, BlueCare and TennCare Select. "Baptist…
Friday, April 21, 2017 - 15:49
It appears that Memphis' second location of a North Carolina-fast food chain is on the way. A permit was filed for a Union Avenue location for Cook Out to "alter restaurant to new restaurant tenant." Representatives from Cook Out could not be reached. The address listed on the permit is 1463 Union Avenue, a location that does not currently exist. Nearby addresses include OfficeMax at 1460 Union Ave., Danvers at 1468 Union, Memphis Dermatology Clinic at 1455 Union and Kimbrough Towers at Union and…
Friday, April 21, 2017 - 14:56
When the Memphis City Council meets Tuesday, April 25, it is expected to invest taxpayer dollars in the redevelopment of a 60-block area of Downtown Memphis. First introduced more than five years ago by Robert Lipscomb, former director of the Division of Housing and Community Development, Heritage Trail seems to be making a comeback. At Tuesday’s meeting, council members will consider giving $200,000 in city capital improvement funds to the project. The resolution describes Heritage Trail as…
Friday, April 21, 2017 - 14:48
A Memphis-based public company has secured nearly $30 million in investment commitments. Jernigan Capital Inc. — which provides debt equity capital to private developers, owners and operators of self-storage facilities — announced it closed $29.5 million of new self-storage development investment commitments in April 2017. "Since the beginning of the year, we have closed $135 million of highly profitable self-storage development investments and are well on our way toward 2017 investment activity…
Friday, April 21, 2017 - 13:51
There are 173 local social media employees at MBJ 2017 list firms. Today, MBJ is giving web readers a sneak peek at the top five Memphis social media marketing/consulting firms from the list that appeared in our April 21 issue. The firms are ranked by number of local social media employees. The full list of 22 firms — including address, services offered and top local executive — is only available to subscribers. Click here to subscribe. Want more research like this? Check out the 2017 MBJ…
Friday, April 21, 2017 - 12:19
The growl towels, Bongo Lady, the data, the chip on the shoulder, Marc Gasol’s yellow shoes — it worked. In game three of the first round of the Western Conference, the Memphis Grizzlies defeated the San Antonio Spurs, 105-94, at the FedExForum. The Spurs now lead the series 2-1. The story of the week leading up to Thursday night’s game was the $30,000 fine Coach David Fizdale — head coach of the Memphis Grizzlies — incurred for his criticism of the officiating in game two. During the…
Friday, April 21, 2017 - 12:05
The first permit was filed for Tom Shadyac's conversion of the Soulsville Town Center. His nonprofit, Foundation For I AM, filed a $3 million permit for a "rock climbing gym" at 879 E. McLemore Ave. The contractor listed was Grinder, Taber & Grinder. The property is located across Stax Museum of American Soul Music and Soulsville Charter School. The filmmaker and philanthropist has previously said the new space will include a pay-what-you can restaurant and a mission " to heal through meals, art…
Friday, April 21, 2017 - 11:23
Two days before the Memphis Grizzlies kicked off their series with the San Antonio Spurs last weekend, Memphis guard Mike Conley sold a home he owned in Germantown's Cedar Lake. Last August, a couple of months after signing the richest contract in NBA history, Conley bought a $1.8 million, 7,000-square-foot home in Collierville. The Germantown house, which was officially owned by the Michael A. Conley II Revocable Trust, sold for $735,000 — about $165,000 less than he paid for it in 2009. Conley's…
Friday, April 21, 2017 - 09:28
McDonald's, starting this month, is rolling out new designer uniforms to more than 850,000 employees in 14,000 restaurants nationwide. Whatever one thinks of the rather somber, predominantly anthracite-hued outfits created for McDonald's (NYSE: MCD) by designers Waraire Boswell and Bindu Rivas, it's the uniform companies doing the actual supplying of the uniforms that caught my attention. McDonald's selected — are you ready for this? — Twin Hill, Aramark (NYSE: ARMK) and a smaller company Way…
Friday, April 21, 2017 - 07:17
As it seeks to navigate a bruising retail environment and possibly responds to pressure from rivals, Nike has changed how U.S. retailers price its products. The sportswear giant will let retailers advertise 25 percent discounts on Nike merchandise year round. "They decided a couple years back to allow retailers to advertise at 25 percent off for a fixed number of weekends," said NPD Group industry analyst Matt Powell. "In December they changed the rule and essentially said retailers can advertise…
Friday, April 21, 2017 - 07:16
Have you ever taken a minute to look at the seal of the City of Memphis? Four symbols adorn the image: a steamboat, a cotton boll, an oak leaf and a machinery wheel. These symbols capture the foundation not just of our city but also the entire Mid-South. The steamboat, alive on the Mississippi River, is vital in the context of our regional economy. Representing transportation and commerce, this symbol of trade is the emblem of not just movement on waterways but also of our international airport,…
Friday, April 21, 2017 - 05:00
A multimillion-dollar building permit was submitted for FedEx near the Memphis International Airport. The permit, valued at $3.2 million for “building renovations,” was posted April 19 for 3140 Tchulahoma Road. FedEx was listed as the tenant, the Memphis Airport Authority as the owner and Grinder Haizlip Construction as the contractor. In March 2017, an amendment to FedEx's composite lease agreement was approved with the Memphis Shelby County Airport Authority (MSCAA), which added unimproved…
Thursday, April 20, 2017 - 14:47
Two brothers, a cousin and a friend have co-founded a new Memphis-based supplier of all things office. Highbar Trading Co. was founded by Justin Miller, his brother Ben Miller, their cousin Todd Miller and longtime family friend Mark Light. The company recorded its first month of sales in March and has hired two additional employees since its launch. The Miller name is a familiar one in the world of office supplies. Todd, Justin and Ben Miller previously worked for Memphis-based Yuletide Office…
Thursday, April 20, 2017 - 14:35
A Memphis-based investment group has purchased 153 area residences for $3.1 million. The group, SMD Real Estate Holdings, plans to add value to the rental properties and continue leasing them for at least 13 years, said local lawyer Michael Fearnley, the group's managing partner. "[We] are going to go in and try to make it a better experience for the tenant. … [We] have a 13-year plan to hold, restore and pay down the debt," Fearnley said. The homes, Fearnley said, are currently worth between…
Thursday, April 20, 2017 - 14:15
A Memphis university just hosted a delegation of international scientists to talk research, education, and business collaboration. University of Tennessee Health Science Center (UHSC) hosted a delegation of Chinese scientists through Wednesday, April 19, as part of an ongoing conversation to bring research initiatives, biotechnologies — including the opportunity for 3D bioprinting of blood vessels — and a student and postdoctoral fellow exchange program to Memphis. Their agenda included a campus…
Thursday, April 20, 2017 - 14:09
One of the most valuable homes in Eads is about to hit the auction block. The 13,000-square-foot home, located at 495 Kings Stable Lane and appraised by the Shelby County Assessor of Property at $2.35 million, will go up for auction at noon on May 4. To see inside, click the slideshow. The home carries the highest appraised value for any home in The Enclave at Sparkle Creek, an estate-lot, gated, equestrian subdivision. The estate, which was designed by architecture firm Looney Ricks Kiss, was…
Thursday, April 20, 2017 - 14:01
Start Co. announced that six of its alumni have reached funding milestones, raising more than $1.1 million in the first quarter of 2017 alone. The teams — Graph Story, Cabsolutely, Preteckt, Front Door, Boosterville and Code Crew — participated in the organization's summer accelerator program during 2013, 2014 or 2015. Graph Story, which provides graph databases, applications and solutions as a service, has raised more than $1 million to date and has reached break even. The company is now building…
Thursday, April 20, 2017 - 11:07
The region’s economic development incentivizer is taking a local workforce development nonprofit under its wing. On Wednesday, April 19, the Economic Development Growth Engine (EDGE) for Memphis and Shelby County board approved an alignment with the Greater Memphis Alliance for a Competitive Workforce(GMACW). GMACW will now operate as a board managed and supported by EDGE, similar to the Memphis & Shelby County Port Commission, with Reid Dulberger serving as president. “As we all know, more…
Thursday, April 20, 2017 - 08:44
Wells Fargo & Co. (NYSE:WFC) announced Tuesday it is launching a pilot to test an artificial intelligence-driven experience through Facebook Messenger. The San Francisco-based bank has hinted at incorporating financial services into third-party environments for a while now. Steve Ellis, head of Wells Fargo’s Innovation Group, talked about implementing banking tools in Facebook Messenger with the Charlotte Business Journal earlier this year. “It all comes back to making it easier for customers…
Thursday, April 20, 2017 - 07:12
An Illinois man is suing Bose Corp., accusing the audio-tech giant of secretly collecting and sharing personal information via its Bluetooth-enabled wireless headphones. The lawsuit, filed yesterday in a U.S. district court in northern Illinois, argues that Bose did not inform users that its smartphone app would collect information about the type of music, radio, podcasts or other audio they listen to and share that information with third party data mining firms. It argues that such information,…
Thursday, April 20, 2017 - 07:12

Pages