Memphis Business Journal

​With ServiceMaster and now Wunderlich moving their offices away from the Poplar Corridor and to Downtown Memphis, one Main Street property owner is taking advantage of a program to renovate his buildings.
Thursday, June 22, 2017 - 07:21
Amazon.com Inc. has posted a slew of new jobs in recent months to develop and expand its checkout-free technology. With the $13.7 billion acquisition of Whole Foods Market Inc., the Seattle e-commerce giant now has 465 grocery stores in the U.S., U.K. and Canada to test out the new technology. Amazon said in a statement it has no plans to use Amazon Go technology to automate cashier jobs at Whole Foods and doesn't intend to lay off any employees as part of the planned acquisition. But many analysts…
Thursday, June 22, 2017 - 07:20
United Parcel Service will add a new surcharge to residential and large-package deliveries during the holiday season this year. The Atlanta-based shipper said the charge will help offset the additional expenses it incurs during surge periods. A charge of 27 cents will be added for ground residential deliveries from Nov. 19 to Dec. 2 — the two weeks surrounding Black Friday. It also will be in place from Dec. 17 to Dec. 23. Also from Dec. 17-23, an 81-cent charge will be added for next-day air…
Thursday, June 22, 2017 - 07:18
Investors who stood behind Uber CEO Travis Kalanick through more than six years of controversies apparently changed their mind this week and forced him to resign. But they continued to publicly praise him and the on-demand ride business he built on Wednesday, perhaps hoping to protect what could be the biggest return on investment of their careers. Most, but not all of them, got involved with Uber when it was valued at less than $300 million. Its most recent valuation was pegged at nearly $70 billion. The…
Thursday, June 22, 2017 - 07:17
There's a new king among fast food burger brands when it comes to happy customers. For the first time in 20 years, Wendy’s Co. lost its top ranking in the annual American Customer Satisfaction Index. Burger King bested its rival in the 2017 survey released Tuesday with a score of 77, topping Wendy’s by a point. The chains were tied at 76 last year in the annual industry evaluation, and Wendy's stayed at that mark this year. Wendy’s likely isn’t sweating the loss. The brand continues to…
Thursday, June 22, 2017 - 07:17
Whole Foods CEO John Mackey divulged the possibility in a town hall meeting on June 16, the day Amazon announced a planned $13.7 billion acquisition of the grocery chain based in Austin, Texas.
Thursday, June 22, 2017 - 07:16
The epic tale of Walgreens, Rite Aid and Fred’s just took another twist. The Federal Trade Commission (FTC) filed an emergency petition June 19 in the U.S. district court for the District of Columbia to enforce a subpoena duces tecum — meaning a subpoena to produce documents or evidence — issued in a merger investigation. That “merger investigation” is for the proposed multibillion-dollar acquisition of Rite Aid Corp. by Walgreens Boots Alliance Inc. If the deal goes through, Memphis-based…
Wednesday, June 21, 2017 - 15:02
"We very sincerely believe it should be client first and, to be able to do that, it can’t be policy first," said Kevin Kimery.
Wednesday, June 21, 2017 - 14:30
Downtown's Belle Bistro is opening a charcuterie bar at the front of the restaurant, as part of an ongoing, $200,000 renovation to the 117 Union Ave. location. The renovation will include a new marble facade facing Union Avenue and a new patio for patrons to enjoy the charcuterie with wine or other drinks. The project also included the opening of Belle Tavern in the back of the restaurant last year, which has an alley entrance. To see the partially renovated restaurant, along with renderings of…
Wednesday, June 21, 2017 - 14:18
The approval of an office improvement grant, meant to help one of Memphis' largest private companies move Downtown, instead turned into a debate about local minority participation. The Center City Development Corp. (CCDC) — an affiliate board of the Downtown Memphis Commission (DMC) — was scheduled to vote on a $100,000 reimbursable tenant improvement grant June 21 to help Wunderlich Securities Inc. relocate its offices from East Memphis to One Commerce Square. The company plans to invest $2…
Wednesday, June 21, 2017 - 13:31
From 2015 to 2016, there was a 3.2 increase in local employment at the area's Top 100 private companies and a 9.2 percent increase in total employment for those companies. Today, we're giving readers a preview into one of our weekly lists: total employment at the area's Top 100 private companies, ranked by total full-time employees. For the full list, take a look at MBJ's June 15 weekly edition. That list — which includes address, total employees in 2016, total employees in 2015, nature of the…
Wednesday, June 21, 2017 - 12:14
Even if a leader is perfectly competent and perfectly able to keep the ship on course, fresh blood can energize a company to drive new growth, take bigger risks and reap more rewards.
Wednesday, June 21, 2017 - 12:05
A mediocre third quarter segued into a better-than-expected fourth quarter that capped off a record year for Memphis-based FedEx Corp. Zacks investment research and other analysts predicted the company’s earnings on an adjusted basis would hit $3.89, but when the Q4 2017 and full-year results were released June 20, FedEx reported earnings per diluted share on an adjusted basis of $4.25. Revenue for 2017 reached $60.3 billion. In 2016, that figure was $50.4 billion. To see the full Q4 2017 and…
Wednesday, June 21, 2017 - 10:34
An East Memphis event venue is set for its first major refurbishment in its 20-year history.
Wednesday, June 21, 2017 - 09:45
The Volunteer State just introduced something that's been popular in Kentucky for more than a decade.
Wednesday, June 21, 2017 - 07:22
Whole Foods Market Inc. and Amazon.com Inc. leaders celebrated the announcement of their potential merger Friday with a "town hall meeting" that included effusive praise heaped by both sides on each other. They hyped the deal as a marriage of two innovative, forward-thinking companies, with Whole Foods CEO and co-founder John Mackey describing Friday as "the second-most-important day in the history of the company," according to a transcript of the meeting in a Monday securities filing. The only…
Wednesday, June 21, 2017 - 07:20
Kids already talk to the screen when they’re watching “Dora the Explorer” or “Blue’s Clues.” Why not make the experience actually interactive? That’s the concept behind Netflix’s new “branching” shows, which offer viewers the chance to choose in which direction the story goes. The streaming giant is launching its first interactive story today starring Puss in Boots from DreamWorks Animation’s popular “Shrek” movies. “While the mantra of our collaborations has been ‘Wouldn’t…
Wednesday, June 21, 2017 - 07:18
The Fresh Market CEO Richard Anicetti resigned Monday, an industry source confirmed to Memphis Business Journal sister publication Triad Business Journal. Apollo Global Management, which acquired The Fresh Market last year, has appointed Brian Nicholson, chief financial officer of The Fresh Market as interim CEO, "while a search is conducted" the source told TBJ. Anicetti took over as president and CEO of Fresh Market on Sept. 1, 2015, after more than 30 years with Hannaford Brothers and Food Lion,…
Wednesday, June 21, 2017 - 07:16
Amazon.com Inc. has unveiled a service that ships up to 15 items of clothing, shoes or accessories at a time for customers to try and pay for only those they don't return within seven days Seattle-based Amazon's Prime Wardrobe is open to customers on an invite-only basis and provides prepaid labels and resealable boxes for free returns. Amazon already offered free shipping on apparel returns in an effort to win over shoppers who are reluctant to buy clothing sight-unseen. Amazon Prime Wardrobe…
Wednesday, June 21, 2017 - 07:15
The Memphis City Council is delaying plans to dissolve the nonprofit tasked with developing public art. The resolution's sponsor, councilman Berlin Boyd, postponed a proposal to revoke the ordinance that dedicates 1 percent of the city's fiscal year capital budget to the UrbanArt Commission. "I'm willing to hold it for four weeks, but if anyone makes an amendment to give them the $300,000, I will bring it back," Boyd said. "I'm not willing to fund them a penny." Boyd proposed bringing the city's…
Tuesday, June 20, 2017 - 14:57

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