Monday, February 26, 2018

Memphis Business News - Local Memphis News | Memphis Business Journal

  1. Market Share: Olymbec buys from Belz; Athleta and H&M permits pulled
    The women's athletic clothier Athleta appears en route to Germantown.
  2. Steimer Says: Hoping for optimism in Memphis
    Memphis’ economy needs more hope. The city is coming off a strong 2017: Its real estate sector is surging, and its unemployment rate remains about as low as it’s ever been. And yet, only 42 percent of the Federal Reserve Bank of St. Louis’ Memphis contacts reported that they expect local economic conditions to be at least somewhat better heading into 2018 than they were in the previous year. The same contacts expressed even lower confidence in early 2017 — pessimism that ultimately was…
  3. Top of the Market: East Memphis home sells for $1.4 million
    The week of Valentine's Day was a lovely one for the East Memphis high-end housing market. Four of the top five Shelby County homes that sold during the week are in either ZIP 38117 or 38120. The week's No. 5 home, located on Cypress Moss Cove in Collierville, is the only exception. The new home, built by Magnolia Homes, holds five bedrooms and three-and-a-half bathrooms. It sold for $660,000. Two homes tied for the No. 3 spot this week, both selling for $775,000. The first is located on Briarcliff…
  4. National writer coming to local private school to talk teens and tech
    The age of always-on smartphones, tablets and other digital devices has added yet another complex layer to the classroom. Lucky for Hutchison School, the cellphone reception on campus is lacking, but students need to realize the social media decisions they make off-campus could have lasting implications, said Kristen Ring, Hutchison's head of school. "Harvard [University] and other colleges have asked students to leave based on inappropriate social media behavior," Ring said. Hutchison, an all-girls…
  5. Memphis leads nation in 'Black Panther' box office spike
    Memphis played a big part of the record opening set by "Black Panther" last weekend. Bloomberg reported that opening weekend ticket sales in Memphis were 81 percent higher than the average opening weekend that movies experience here; with that figure, the city placed No. 1 in the country for moviegoer enthusiasm for "Black Panther." Atlanta ranked No. 2 for percent increase in attendance versus the average, with ticket sales that were 56 percent higher than usual, followed by New Orleans, where…
  6. Board member resigns from Memphis public company
    In accordance with its succession plan, a board member has resigned from a Memphis-based public company. William J. Cahill, resigned from the board of director’s for Memphis-based EdR — a collegiate housing developer, owner and manager — effective Feb. 22. Cahill joined the EdR's board in 2005 when the company made its initial public offering (IPO). “Bill’s leadership and mentorship has been irreplaceable not only to me personally, but also our entire board of directors," said Randy…
  7. Airbnb targets one billion annual visitors by 2028
    Airbnb CEO Brian Chesky said the company would not file an initial public offering this year, but new features and increased focus on bringing hotels on board will prime the company for one down the road.
  8. Amazon's reportedly planning to open up to six Amazon Go stores in 2018
    Amazon.com is planning to open as many as six more Amazon Go cashier-free convenience stores this year, according to Recode. Amazon Go sites are being considered in Seattle and Los Angeles, unidentified sources “familiar with the company’s plans” told Recode. Amazon found at least three sites for new Go stores in Seattle last year, according to one of Recode's sources. In L.A., Amazon has held talks with billionaire developer Rick Caruso about building an Amazon Go store in his 600,000-square-foot…
  9. 'Hustle & Flow' producer options book featuring Robert Church for TV
    A "Hustle & Flow" producer has optioned a book about African-American millionaires — including Memphis' Robert Church — for television, according to The Hollywood Reporter (THR). THR said that Stephanie Allain's Homegrown Pictures has optioned Shomari Wills' book "Black Fortunes: The Story of the First Six African Americans Who Escaped Slavery and Became Millionaires." Sources told THR that Allain will turn the book into a limited-series adaptation. Wills' book, which was published on January…
  10. Le Bonheur to get $1.1M expansion, renovation
    Le Bonheur Children's Hospital is getting more than $1 million worth of work. A building permit was filed Feb. 14 for a new two-story expansion to the hospital located at 848 Adams Ave. The permit was valued at $1.1 million. According to hospital spokeswoman Anne Glankler, Le Bonheur is adding almost 26,000 square feet on the east side of the hospital and renovating almost 10,000 square feet of existing space. As part of that work, an operating room expansion will provide three additional rooms.…