Memphis Business Journal

Walgreens Boots Alliance Inc. said it's expanding its drive-through testing for coronavirus to 15 locations in seven states. The Deerfield, Illinois-based pharmacy company (Nasdaq: WBA) said the seven states are Tennessee, Arizona, Florida, Illinois, Kentucky, Louisiana, and Texas. The Walgreens testing will use a device developed by Abbott Laboratories, the Illinois-based pharmaceutical company (NYSE: ABT), which can render positive results for the coronavirus in five minutes. Abbott said its…
Tuesday, April 7, 2020 - 14:17
If you've tried to call Wells Fargo or go on its website, you know all too well the frustration.
Tuesday, April 7, 2020 - 13:56
Tucker sunk the majority of her money in Shapow's line of soaps, shampoos, conditions, beard oils, and body washes. So, now Tucker's doubling down on that line.
Tuesday, April 7, 2020 - 13:53
The U.S. Army Corps of Engineers chose Los Angeles-based development firm AECOM to help it convert Gateway Shopping Center into a temporary hospital. About 100,000 square feet on the west end of the Belz Enterprises-owned shopping center — located at 3240 Jackson Ave. — will be transformed into a facility for coronavirus-positive patients who don't yet need critical care, Gov. Bill Lee said April 2. The Department of Defense announced April 6 that AECOM's $12.4 million bid had been selected…
Tuesday, April 7, 2020 - 13:35
With the COVID-19 pandemic raging on, AutoZone is collecting financial parts — in case the virus causes its engine to sputter. On Tuesday, April 7, the company announced it had opened a 364-day, $750 million credit line. It also reported a sale of notes worth $500 million, due in 2025, and a sale of notes worth $750 million, due in 2030 — meaning the company has sold $1.25 billion in bonds, drastically boosting its liquidity position. Already, AutoZone had a $2 billion credit line, with $1.9…
Tuesday, April 7, 2020 - 13:10
Brian Edwards said he first heard of the coronavirus sometime around January. In February, he and his wife went on a cruise. "They made like an announcement on the cruise ship the very first day after everybody got on, telling us to wash our hands, cover our mouths when we sneeze, and everything like that," he recalled. Edwards — founder of Everything But the Food — made it home without incident, but the coronavirus has shaken the very core of his business, which deals primarily with restaurants.…
Tuesday, April 7, 2020 - 11:43
Nursing home residents tend to be frailer, have more functional limitations, and have more chronic and complex conditions than the general adult population. According to the Centers for Disease Control and Prevention (CDC), older adults and people who have severe underlying medical conditions, like heart or lung disease or diabetes, are likely to develop more serious complications from the novel coronavirus, or COVID-19. This fact puts nursing home residents at the highest risk for serious illness…
Tuesday, April 7, 2020 - 11:12
All of the 2020 Best of the Bar finalists were featured in a special edition of the Memphis Business Journal released March 27. MBJ is now showcasing each category online. Here are the finalists in the Estate Planning/Tax category.
Tuesday, April 7, 2020 - 09:00
"There is a solution using available technology today to fix the economic part."
Tuesday, April 7, 2020 - 07:36
Kroger Co. will limit the number of shoppers it allows in each of its stores across the country beginning Tuesday to help prevent the spread of coronavirus. Cincinnati-based Kroger (NYSE: KR), the nation’s largest operator of traditional supermarkets, said it will limit the number of shoppers to 50% of the international building code’s capacity. It said the change is intended to “allow for proper physical distancing in every store.” The standard grocery store building capacity is one person…
Tuesday, April 7, 2020 - 07:29
Because Cobblestone Media Group has remained on stable ground during the pandemic, it's been able to follow through on plans from the fall.
Tuesday, April 7, 2020 - 07:20
Terminix’s primary adversaries, termites, are tiny creatures. But, these days, amid the COVID-19 pandemic, the ServiceMaster subsidiary is taking on even smaller opponents: germs. On April 6, Terminix Commercial announced it was launching Disinfectix, a disinfecting service created in response to the coronavirus. “With the impact of this new coronavirus on our customers and businesses around the world, it’s clear that this is a critical need we can help fill immediately,” Greg Rutherford,…
Tuesday, April 7, 2020 - 07:17
For every local company going about its business with steady revenue, there’s another that’s earning less than half of what it did last year, according to recent Greater Memphis Chamber polling. About 25% of the 150 respondents reported revenue had dropped 9% or less year-over-year, while about 25% reported revenue had dropped by more than 50%. The other half of the respondents reported revenue drops between 10% and 50%. About 25% of respondents to the poll reported dipping into personal savings…
Monday, April 6, 2020 - 14:46
Crosstown Arts had a soft launch of its new music series Against the Grain on April 3. From the press release: Though tickets are not required to view the material, tickets, starting at $5, are being sold, with all funds going to the artists. Musicians can upload an unlimited number of videos at no cost to them. Crosstown Arts has dedicated a portion of its performance budget to Against the Grain. That means the first 100 participating musicians will get paid at least $50. The website…
Monday, April 6, 2020 - 13:17
Kellan Bartosch said about half his business has evaporated due to bars and restaurants closing to stop the spread of the coronavirus.
Monday, April 6, 2020 - 12:29
Wells Fargo said Sunday evening that it has exhausted its $10 billion capacity for lending under the SBA’s Paycheck Protection Program (PPP) as the bank operates under a regulatory asset cap. In other words, amid the pandemic-induced downturn that has some talking of an impending economic depression, one of the nation’s largest lenders will largely be kept on the sidelines. “Today, the company continues to operate in compliance with an asset cap imposed by its regulator due to actions of…
Monday, April 6, 2020 - 12:26
Memphis Mayor Jim Strickland announced April 6 that he's extending the city's "safer at home" order through April 21. The order was originally applicable until April 7. Strickland had announced March 30 that the order would be extended but had not previously announced a new end-date. Strickland said the city and county have received reports of 140 local businesses failing to comply with the order. Of the 134 that they have now contacted, 133 have agreed to comply. The one that didn't, a Park…
Monday, April 6, 2020 - 12:22
All of the 2020 Best of the Bar finalists were featured in a special edition of the Memphis Business Journal released March 27. In the coming weeks, MBJ will showcase each category online. Here are the finalists in the Real Estate category.
Monday, April 6, 2020 - 08:36
Work Home Balance is MBJ's new recurring print and online feature that provides an inside look at how Memphians — across a variety of sectors — are navigating their new normals amid COVID-19. Below is a Q&A with the president of Rhodes College, Marjorie Hass, where she discusses the importance of finding a new solidarity as a country and how she is doing her part to "flatten the curve." Marjorie Hass: I live in Midtown, and love that I can walk to the grocery store and restaurants. Knowing…
Monday, April 6, 2020 - 07:28
The toll of the coronavirus pandemic on the hospitality industry has slashed occupancy rates at Memphis hotels and forced operators to come up with different ways to woo guests. Memphis Tourism president and CEO Kevin Kane said April 2 that Memphis’ hotel occupancy rate plummeted to its lowest of the year at 30.2% on March 22 and hit 30.9% the week of March 28. Similarly, The Peabody Hotel's occupancy rates dipped between 10% to 30% by March 21, according to Peabody director of marketing Kelly…
Monday, April 6, 2020 - 07:17

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