Memphis Business Journal

Massive appetite for e-commerce is driving growth at Diversified Conveyors.
Wednesday, June 26, 2019 - 06:29
Until the brick-and-mortar version opens, area residents may encounter a food truck encouraging them to "Donut worry. Be happy."
Wednesday, June 26, 2019 - 06:21
The best news FedEx had to share in the past 24 hours might have been that it was suing the U.S. Department of Commerce. Its quarterly and annual earnings, released after the markets closed Tuesday, June 25, were not so rosy. FedEx reported $1.32 billion in operating income during Q4 2019, down year-over-year from $1.33 billion in Q4 2018 (all figures in this story are GAAP reported earnings). Income took a hit from lower revenues generated by FedEx International Priority package and freight at…
Tuesday, June 25, 2019 - 16:37
After an RFQ process, the City of Memphis has picked the developers it wants to transform the northern end of the Mid-South Fairgrounds into a mixed-use development. Memphis-based M&M Enterprises and Connecticut-based Belpointe REIT will develop the 18 acres with at least 30,000 square feet of retail and 80 hotel rooms, the city announced Tuesday, June 25. The project could also possibly include apartments, but M&M founder James Maclin declined to discuss the number of retail bays, hotel rooms,…
Tuesday, June 25, 2019 - 14:54
We read FedEx's 31-page lawsuit so that you don't have to.
Tuesday, June 25, 2019 - 14:52
A $43 million mortgage was filed for the long-awaited development earlier this month.
Tuesday, June 25, 2019 - 14:11
The addition of 15 cargo jets will bring Amazon's fleet to 20 737s that are leased from General Electric, adding to the five others that were leased earlier this year.
Tuesday, June 25, 2019 - 14:09
Today's most health-conscious executives and entrepreneurs are finding ways to bring business and fitness together.
Tuesday, June 25, 2019 - 11:37
After two decades in California, Mitsubishi is uprooting its North American headquarters and moving it to a Middle Tennessee suburban corporate office hub. Mitsubishi Motors North America Inc. is coming to Franklin, the company announced Tuesday. The automaker is bringing about 200 jobs as part of its $18.25 million investment — spanning all corporate departments, from legal and finance to IT, sales and dealer operations. The arrival of Mitsubishi expands the region's presence in the automotive…
Tuesday, June 25, 2019 - 11:36
A Memphis-based manufacturer of multicultural hair and skin products is expanding, with the acquisition of several new brands. Ampro Industries Inc. bought the Long Aid, Ultra Glow, Better Braids, Better Locks, K7, and Apex brands from Keystone Laboratories Inc., which is also based in Memphis. Keystone ran into trouble last year after the U.S. Department of Justice filed a complaint on behalf of the Food and Drug Administration (FDA) alleging that Keystone did not "adequately investigate sources…
Tuesday, June 25, 2019 - 10:56
In May, the Memphis Business Journal honored its 2019 Small Business Awards finalists at a special ceremony. In the coming weeks, MBJ will release spotlight videos, created by Prodigi Arts, on each of those companies. TopCat Masonry Contractors LLC was the winner in the more than 40 employees category. Founded in a living room in 1997, TopCat Masonry Contractors LLC are doing their part to redefine the construction industry. Frustrated with how the construction industry treated employees, Briggette…
Tuesday, June 25, 2019 - 08:03
The situation that put FedEx in dutch with China is now going to court. FedEx Corp. filed a complaint June 24 in the United States District Court for the District of Columbia, seeking an injunction against the U.S. Department of Commerce for its regulations against shipping packages prohibited by the Export Administration Regulations (EAR). FedEx has been ensnarled by EAR-related controversies twice in the past month after the U.S. ban on some shipping circumstances related to China-based Huawei,…
Tuesday, June 25, 2019 - 08:00
Look for Grizzlies' regular season home game ticket prices to increase about 10 percent on the secondary market compared to last season, according to an expert from TickPick.
Monday, June 24, 2019 - 14:42
A new boutique hotel that is part of Central Station's transformation could be opening before the fall. The Central Station, which will part of the Curio Collection by Hilton brand, should be open by September, according to owner and developer McLean Wilson. The 123-room hotel will be located at 545 S. Main St. "This building was built in 1914, [and] it's a massive anchor of South Main and Downtown Memphis," Wilson said. "It had a very storied past, and we are one of the important events along…
Monday, June 24, 2019 - 14:13
This week's home sales roundup portrays strength at the top end of Shelby County's housing market, with the top five homes selling for a combined $4.88 million. The No. 5 house, which sold for $700,000, is located at the eastern end of Shady Grove Road in ZIP 38120. Built in 1975, the house holds four bedrooms and five-and-a-half bathrooms in 5,100 square feet. A new residence on Garden Trail Lane in Collierville was No. 4, selling for almost $860,000. The ZIP 38017 home has five bedrooms, four…
Monday, June 24, 2019 - 13:37
A Memphis-based IT firm was recently bought by a global digital services company. Vanick Digital, alongside its sister brands Fifty Seven Pounds and Totus, was acquired by Portland, Oregon-based ProKarma. Vanick has been in business for close to two decades and is known for application programing interface (API) strategy and digital transformation and business growth services. Within the past year, it spun off Fifty Seven Pounds as a firm specializing in custom development, including martech…
Monday, June 24, 2019 - 12:05
Publicly traded trucking firm Saia Inc. filed nearly $15 million worth of building permits Friday for a new Memphis facility. The 200-dock facility is set to be located on 61 acres just northwest of East Raines Road's intersection with Prescott Road. The land is bordered to the north by single-family housing, which was the source of some backlash from neighbors when the project went before the Memphis & Shelby County Land Use Control Board and Memphis City Council. While Land Use denied Saia's…
Monday, June 24, 2019 - 12:00
Tennessee lawmakers passed legislation last month that could make it the first state to transform its Medicaid program to a block grant, which Republicans say gives states more control over their health programs.
Monday, June 24, 2019 - 11:23
Memphis-based FedEx Corp. has apologized for its delivery "mistake" when it returned a package containing a Huawei phone, according to Reuters. FedEx cited "operational errors" as the reason behind refusing to deliver the phone that was sent from a writer in Britain to a U.S. address for PC Magazine, Reuters said. Huawei, the world's largest telecom provider, has virtually been blacklisted by the U.S. government, citing national security concerns over its technology — which is itself one piece…
Monday, June 24, 2019 - 07:40
In May, the Memphis Business Journal honored its 2019 Small Business Awards finalists at a special ceremony. In the coming weeks, MBJ will release spotlight videos, created by Prodigi Arts, on each of those companies. LEO Events was a finalist in the more than 40 employees category. It all started in Memphis, and that’s where it continues today. In 2012, LEO Events, a brand experience agency, was founded by Cindy and Kevin Brewer and Kent Underwood. With a focus on three areas — meetings…
Monday, June 24, 2019 - 06:19