Memphis Business Journal

The idea behind By the Brewery is that it will be easy — much of it grab-and-go and soups, salads, healthy bowls.
Thursday, July 2, 2020 - 14:47
A building permit valued at $6 million was filed July 1 to revamp a public tennis court that will also serve as the future home of the University of Memphis men’s and women’s tennis teams. The permit listed the City of Memphis as the owner and tenant at the 4145 Southern Ave. site — Leftwich Tennis Center in Audubon Park. Leftwich is located about a mile from the U of M's main campus and a little over a mile from the school's Park Avenue Campus, which houses many of the U of M's sports teams.…
Thursday, July 2, 2020 - 14:09
I know it’s bad. The economic inequity between white and Black people in Memphis. The disparity in what achievement looks like for a white-owned business versus a Black-owned business. The everyday gap in earnings between white employees and Black employees. How wealth is created and accumulates to benefit future generations at far different rates and degrees. If you’re white, like me, you’re certain it’s bad even before you look. You just feel it. The playing field is not level between…
Thursday, July 2, 2020 - 13:04
In the July 3 cover story, MBJ takes an in-depth look at the state of Black-owned businesses in Memphis. More data and profiles will be published in the coming days.
Thursday, July 2, 2020 - 13:00
When Lou Conforti wants to make a point, he doesn't hold his tongue.
Thursday, July 2, 2020 - 12:56
Walmart Labs plans to establish a new technology center in a freshly renovated office building near the Herndon Metro Station in Northern Virginia, according to two sources familiar with the deal, further bolstering the region's status as a tech hub. The retail giant's technology arm has leased all of 2245 Monroe St., a roughly 162,300 square-foot building owned by an affiliate of Barings Real Estate, according to the sources, who were not authorized to comment on the lease. The lease is a big win…
Thursday, July 2, 2020 - 12:47
As the summer progresses, the University of Memphis looks to the fall with hope — and an acknowledgement of uncertainty. On June 19, the Tennessee Higher Education Commission (THEC) passed a revised budget for the 2020-2021 fiscal year, which determines the state funding U of M will receive. The good news, for the institution, is that it’s set to get the $32.9 million it wanted for the new STEM building, and it won’t see any additional reduction in formula funding. But, capital maintenance…
Thursday, July 2, 2020 - 12:39
Did you hear the news? Whataburger is looking to expand into Tennessee, according to a story in the San Antonio Business Journal — MBJ's sister publication. From the June 30 story: "James Turcotte, SVP of real estate for the San Antonio-based burger chain, said that the company is examining the Kansas City market for its next phase of expansion, following rumors that swirled last week. He also said the chain is exploring opening locations in Tennessee and other eastern markets, especially the…
Thursday, July 2, 2020 - 10:56
After months of anticipation, forms, and filings, two financial institutions have brought their assets together and officially become one. On July 2, First Horizon and IberiaBank announced the completion of their massive merger-of-equals. The new institution will have $79 billion in assets, $60 billion in deposits, and $58 billion in loans. It will be headquartered in Memphis, with a regional banking business headquarters in New Orleans. Once the systems conversion and integration is completed…
Thursday, July 2, 2020 - 09:23
Meet four of MBJ's Girls Who Mean Business Class of 2020: Exceptional students from Crosstown High, Hollis F. Price Middle College High School, Hutchison School, White Station High School.
Thursday, July 2, 2020 - 08:05
"I think the soul food element and the soul music element kind of gives you that whole thing — one place, a one-stop shop for soul music and soul food. We want to give them an authentic soul experience," said Larry Springfield owner of SugaShack.
Thursday, July 2, 2020 - 07:29
South of Beale will take the interim tag off its East Memphis outpost, which it has operated during the pandemic. The temporary location, in the Interim restaurant space at 5040 Sanderlin Ave., will remain South of Beale permanently. The restaurant has used using the Interim space as a delivery hub for South of Beale since April. Its new, official name: SOBeast. South of Beale's owners Ed and Brittany Cabigao bought Interim, along with Tony Westmoreland and Nick Scott, in 2017. The Cabigaos eventually…
Thursday, July 2, 2020 - 07:28
A building permit valued at $627,000 was filed June 30 for work at a medical technology facility in southeast Memphis. The permit listed Exel Inc. as the owner and tenant at the 6200 Global Drive site, near State Line Road. The description on the permit stated it was for new office space and a climate controlled storage area in the breakroom. Massachusetts-based Exel, dba DHL Supply Chain, received a seven-year expansion PILOT (payment-in-lieu-of-taxes) in April from the Economic Development Growth…
Thursday, July 2, 2020 - 07:27
“The belief — industry wide — is that we will continue to see a gradual increase in passenger traffic. However, it could take years for the airlines to fully recover from the financial impact, and each airline has been affected to different degrees," said Glen Thomas, director of strategic marketing and communications for MEM.
Wednesday, July 1, 2020 - 14:09
Now that Memphis in May’s move to October is canceled, what does that mean for the construction schedule for the $60 million redesign of Tom Lee Park?
Wednesday, July 1, 2020 - 13:24
Joy Brewer, a representative with Wing Guru, confirmed on June 29 that Wing Guru will take over three spaces of the recently closed Sear Shack. A fourth location is possibly in the works as well. Those restaurants are at 875 W. Poplar Ave. in Collierville, 5224 Airline Road in Arlington, and 6518 Goodman Road in Olive Branch. Brewer estimated it would take three to four months to get the new Wing Gurus up and running. Wing Guru was launched by former University of Memphis basketball player…
Wednesday, July 1, 2020 - 13:20
The University of Memphis and the University of Tennessee Health Science Center (UTHSC) are teaming up to dole out small research awards, with the hope of gaining large federal grants. On July 1, the two institutions announced they’ve issued a call for collaborative research proposals from faculty addressing the coronavirus. Awards will come from UTHSC’s Collaborative Research Network (CORNET) program, a seed funding initiative that encourages interdisciplinary collaboration on innovative…
Wednesday, July 1, 2020 - 11:41
After almost two years of negotiations and a signing in November 2018, the U.S.-Mexico-Canada Agreement (USMCA) takes effect today. It replaces the 26-year-old North American Free Trade Agreement (NAFTA), and with an aim to ease tensions between the countries, create a more balanced environment for trade, and grow the North American economy, Memphis’ largest public company couldn’t be more pleased. On July 1, FedEx expressed its support for USMCA, just a day after it released its Q4 earnings…
Wednesday, July 1, 2020 - 10:53
Meet four of MBJ's Girls Who Mean Business Class of 2020: Exceptional students from Kirby High School, Munford High School, Overton High School, and St. Mary’s Episcopal School.
Wednesday, July 1, 2020 - 10:20
New York, New Jersey, and Connecticut have expanded the list of states from which travelers coming to the region will have to self-quarantine to include California, Georgia, Iowa, and Tennessee — among others. Last week, Gov. Andrew Cuomo announced that New York will be imposing a 14-day quarantine on people traveling from states with high COVID-19 infection rates. The restriction comes as the number of new cases of coronavirus have increased sharply in some states around the country. Meanwhile,…
Wednesday, July 1, 2020 - 07:39