Memphis Business Journal

Tri-State Bank of Memphis has a new headquarters. The bank officially signed a lease for space in an office high-rise located at 1407 Union Ave. located between South Watkins Street and Pine Street. The building is owned by Olymbec USA LLC. “Known as ‘Mid Memphis Tower,’ [the building] clearly met all of our requirements for the corridors that were under consideration,” said Thomas Felder, CEO of Tri-State Bank of Memphis. “The premises also includes space for an ATM machine area, which…
Friday, March 24, 2017 - 16:41
With its janitorial supplies business booming, Yuletide Office Solutions has expanded its current warehouse and added staffers. “Our janitorial division has grown by leaps and bounds,” said Chris Miller, the owner of Yuletide. “We found ourselves cramped for space in the warehouse and realized the need for additional product on the floor.” With average annual growth of 22 percent each year for the past seven years in its janitorial division, Yuletide added 2,000 square feet to its Sycamore…
Friday, March 24, 2017 - 14:52
When the president of the Federal Reserve Bank of St. Louis spoke to the Economic Club of Memphis Friday, much of his time was spent addressing misperceptions people have about America's economy. To start, James Bullard said, Americans should stop pretending the nation's economy is in recovery. "I think we’re way beyond anything to do with a bounce-back from the Great Recession," said Bullard, the most dovish member of the Federal Open Market Committee. Bullard backed this up by pointing out…
Friday, March 24, 2017 - 14:27
Signage is up at the future Downtown headquarters of Memphis-based ServiceMaster Global Holdings Inc. "It's a great feeling to finally see our name going up on the building," said Terry Ingram, vice president of supply management for ServiceMaster. "We still have a lot of work ahead of us — along with our partners at Belz Enterprises, Interior Architects and Flintco — but the signage is a reminder of the commitment ServiceMaster has made to the city of Memphis." ServiceMaster announced in June…
Friday, March 24, 2017 - 14:07
A coworking, incubator and maker space is on the way for historic Downtown Dyersburg. Main Street Dyersburg and a coworking space under construction there will receive a $50,000 grant for The Mill Workspace as part of the Tennessee Department of Economic and Community Development's second round Main Street Entrepreneur Grants. The projects are funded through the Rural Economic Opportunity Act to encourage the growth of entrepreneurship and revitalization of vacant and underused buildings in Tennessee’s…
Friday, March 24, 2017 - 13:56
No houses located within Memphis city limits cracked the top five spots in this week's home sales roundup, and none of the houses in the roundup even approached the $1 million mark. A 2007, 4,900-square-foot house on Germantown's Riverdale Road took the top spot, at $627,000. The five-bedroom, four-and-a-half-bath home sold for $12,000 less than it did in June 2016. New Collierville homes on Bravo Road and East Poplar Avenue and took the No. 2 and No. 4 spots, selling for $585,000 and $520,000,…
Friday, March 24, 2017 - 13:31
While the city prepares the host UCLA, Butler, North Carolina, and Kentucky fans this weekend, Airbnb projects that Memphis hosts will earn $151,000. The home-sharing platform projects that Memphis hosts will welcome 1,100 guests to the city March 23-26, expanding the city's lodging capacity. A search of the site on Friday afternoon showed only 10 percent of Memphis listings left for March 24 through March 26. Top origin cities of Airbnb guests to Memphis for the period were Chicago, St. Louis,…
Friday, March 24, 2017 - 13:27
A class action lawsuit against a Memphis-based bank is nearing its conclusion. The final hearing for the $16.75 million class action suit against First Tennessee Bank National Association concerning overdraft fees is set for Thursday, April 20. According to the settlement website, the lawsuit claims First Tennessee posted “debit card transactions in the order of highest to lowest dollar amount, which plaintiffs argue results in an increased number of overdraft fees assessed to customers.” The…
Friday, March 24, 2017 - 11:58
There are more than 10,000 full-time employees at local third-party distribution operations. MBJ is providing a peek into one of our weekly lists as we reveal the Memphis area's five largest third-party distribution operations. The list ranks them by amount of local warehouse square feet. Click here to see who they are. For the full list of the top 22 third-party distribution operations in Memphis, take a look at the March 24 weekly edition. The full list — which includes address, number of…
Friday, March 24, 2017 - 10:44
Google’s crisis spread from the United Kingdom to its home country on Wednesday when two of the United States' largest advertisers, AT&T and Verizon, yanked marketing dollars from YouTube after their ads were placed alongside adult content and hate speech. Late last week, British marketers went into an uproar when it surfaced that ads for major companies appeared on YouTube pages or videos with hate speech, gory or offensive content. AT&T said Wednesday that it will not advertise on YouTube until…
Friday, March 24, 2017 - 07:31
As Costco Wholesale takes steps to improve its online offerings, the company has tapped a technology executive as its next member of its board of directors. Costco (Nasdaq: COST) announced Tuesday that Kenneth Denman will be the newest addition to the company's board of directors. Most recently, Denman was CEO of Emotient, which built an artificial-intelligence based platform for measuring facial expressions to predict emotions. Emotient Inc. was acquired by Apple in January 2016. Denman has also…
Friday, March 24, 2017 - 07:30
Starbucks Corp. Chief Technology Officer Gerri Martin-Flickenger says the coffee company plans to launch and expand new tech features this year. Seattle-based Starbucks (Nasdaq: SBUX) has long flown under the radar as a technology company, coming out as an early leader in mobile technology and hiring hundreds of tech employees in 2016. A new feature launching next month is the ability to send Starbucks gift cards through iMessage on iPhones and iPads. Users pay for the gift via Apple Pay, and the…
Friday, March 24, 2017 - 07:27
The woes of Sears may be the victories of competitor J.C. Penney Co Inc. (NYSE: JCP). Sears is among several retailers – including Macy’s, The Limited and Aeropostale – to announce store closures in the past few months. Sears Holdings Corp. (Nasdaq: SHLD), which also owns the Kmart brand, said in January that it would shutter a total of 150 stores across the country, including 42 Sears department stores. That leaves the company with fewer than 1,500 units. In 2011, it boasted 3,500 locations. Sales…
Friday, March 24, 2017 - 07:21
Amazon.com Inc. has reportedly struck a deal with German shipping giant DHL at its budding Prime Air cargo hub in Kentucky. Amazon Prime Air will in May start using DHL’s global cargo hub at Cincinnati/Northern Kentucky International Airport (CVG), the Lane Report said. That will allow Amazon to ship packages while building out its own $1.5 billion hub at CVG. The Cincinnati Business Courier in late January reported that Amazon would start flying its Prime Air-branded jets using DHL’s facilities…
Friday, March 24, 2017 - 07:20
Earlier this month, Austin-based Hopdoddy Burger Bar announced it was on its way to Overton Square. Now, the Memphis Business Journal has learned where it has its sights set next. According to multiple sources with close proximity to the project, the highly popular Hopdoddy has had advanced negotiations with Poplar Commons, the under-construction, 135,000-square-foot East Memphis retail center that is set to be anchored by Nordstrom Rack. Along with Nordstrom, the Seritage Growth Properties-owned…
Thursday, March 23, 2017 - 14:55
Memphis-based International Paper is doubling down on its commitment to serve the community. The leading global producer of renewable fiber-based packaging, pulp and paper products announced the launch of its Community Engagement Team. The group will be comprised of Alissa Campbell Shaw as senior manager and Amy Grow as manager. “We are really excited to be part of this team, and International Paper is excited to have this team in place,” Grow said. International Paper’s Community Engagement…
Thursday, March 23, 2017 - 14:46
Baptist College of Health Sciences is currently enrolling students for its first graduate cohort. The school will begin the three-year, post baccalaureate Doctor of Nursing Practice (DNP) Adult Gerontology Acute Care Nurse Practitioner Program in January 2018. According to Cathy Stepter, acting graduate program chair and associate professor of nursing, the program was created in response to demand for nurse practitioners in an acute setting. A focus on adult gerontology was chosen after staff spoke…
Thursday, March 23, 2017 - 14:42
As a whole Tennessee still lags most others when it comes to innovation. That's according to a recent WalletHub study on the most and least innovative states. Tennessee comes in 45th on the ranking of all 50 states and the District of Columbia, earning the state the title of the seventh-least innovative state. To be sure, concerted efforts across the state have been made in recent years to improve Tennessee's innovative strength. Factors measured by WalletHub include the state's share of professionals…
Thursday, March 23, 2017 - 14:18
Bartlett is one of 50 new cities nationwide that AT&T (NYSE: T) announced it would expand its fiber service to. “I am excited by this announcement, which is yet another example of private industry responding to consumer demand,” John Threadgill, CEO of the Bartlett Chamber of Commerce, said in a statement. “High-speed internet can open new doors for the citizens of Bartlett and positively impact many aspects of life, such as education and job attraction.” In October 2016, the telecommunications…
Thursday, March 23, 2017 - 14:12
With many of its employees always on the go, the Memphis Area Transit Authority (MATA) is bringing health care to them. MATA has started providing annual physicals, primary care and follow-up visits to its 485 employees via a HealthyHere mobile medical clinic. Beginning this month, the transit authority's employees can schedule appointments for when the mobile clinic will be onsite, at either MATA's main location near New Chicago or the Trolley Barn Downtown. Through the service, employees can…
Thursday, March 23, 2017 - 13:08

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