|
|
|
|
|
JANUARY 31, 2020
Amazon brings jobs — and competition
Bulletin Board: SOE podcast + more
CEO of the Year: Join us for breakfast
News from other sources: Sports betting at Southland
Upcoming: This weekend
Hot Sheet: Who’s going where
Power Player: Deidre Malone
|
|
|
|
AMAZON DRAWS THE BATTLE LINES
By Samuel X. Cicci
Is it the next step in imperial encroachment, or creation of much-needed jobs in an area that most of the Memphis business scene tends to ignore? Perhaps it’s a bit of both, but for now, all we have are a couple of official numbers after Amazon “broke ground” on its new Memphis warehouse.
The $200 million, 855,000-square-foot fulfillment center is setting up shop in the Frayser/Raleigh area. That squares nicely with new Greater Memphis Chamber chairman Willie Gregory’s goal to bring more corporate presence to town — Amazon’s new building is just the second to be located in the neighborhood after Nike’s North America Logistics Campus (the sportswear giant’s largest international distribution center) opened a few years ago. Other companies had hesitated to follow Nike’s lead, which put projected economic growth on hold. However, the new Amazon campus will create 1,000 new jobs, taking the company’s Memphis employee total to 2,500.
Per company policy, full-time employees should receive at least $15 per hour and have access to healthcare benefits, 401(k) plans, and other perks. On the flip side, bad working conditions at Amazon distribution centers have been well-documented. Several news organizations last year wrote about how grueling the routine is and thousands of Amazon fulfillment center workers across the world went on strike during Prime Day. Still, 1,000 new jobs are nothing to sniff at.
The latest step by Amazon is the next development in what we could call the delivery cold war between it and Memphis’ FedEx, which terminated its contract with the Seattle-based company last year. In the aftermath, UPS cozied up to Jeff Bezos and, according to the Wall Street Journal, boosted its Q4 shipments by nine percent. Meanwhile, FedEx Ground fully implemented Sunday residential delivery this month, which speeds up shipping by one to two days; it had experimented with Sunday delivery during the recent peak holiday season and reported 42 percent year-over-year growth with FedEx Home Delivery package volume in December.
|
|
BULLETIN BOARD
> Entrepreneurial Insights is a new podcast from the Society of Entrepreneurs. The inaugural episode is a talk with Duncan Williams. Produced with The OAM Network, you can check it out here.
> The eighth annual FedEx Small Business Grant Contest, a national program that offers grants and services totaling more than $250,000 to support small businesses and foster community growth. This year’s grant total is the largest amount in the company’s history. Info here.
> Ring Container Technologies has joined How2Recycle, a label created to provide consistent and transparent on-package recycling information to consumers.
> Agricenter International's annual Ag Day Art Contest encourages students to explore careers in agriculture. Any 3rd-12th grade student in Shelby and Desoto counties can participate. More info here.
|
|
|
CEO OF THE YEAR
Join us as we honor the top bosses of 2020
Inside Memphis Business is celebrating its 2020 CEO of the Year honorees on Thursday, February 20, 2020.
The top leaders are Dr. James Downing of St. Jude Children's Research Hospital in the 1000+ employees category, George Hernandez of Campbell Clinic (200-1000 employees), William J. “Will” Chase, Jr. of Triumph Bank (50-200 employees), and Briggette Green of TopCat Masonry Contractors, LLC (up to 50 employees).
Memphis is graced with tremendously talented, inspiring executives in charge of their companies and organizations and these exceptional leaders are setting standards of success in healthcare, banking, and construction.
> Dr. Downing, president and CEO of St. Jude Children’s Research Hospital, oversees an organization that blends clinical care with scientific research using a nonprofit operational model. He created a $7 billion, six-year strategy for accelerating cures for cancer and other childhood diseases.
> Mr. Hernandez is CEO of Campbell Clinic Orthopaedics and executive director of the Campbell Foundation. He is overseeing construction of a new 120,000 square-foot four-story medical facility, equipped with more physical therapy and imaging suites, eight new outpatient surgery rooms, and state-of-the-art medical technology while creating 185 new jobs over the next three years.
> Mr. Chase is president, CEO and founding board member of Triumph Bank (founded 2005) and has 37 years of commercial and retail banking experience in the region, with a focus on building relationships within the community.
> Ms. Green of TopCat Masonry Contractors, a first generation, family owned and operated company, has co-founded TAP Apprenticeship Program with two other construction companies in order to bring awareness and help prospects earn a living wage while developing a life-long skill set.
Our awards breakfast will honor these four CEOs and will include remarks by Jack Soden of Elvis Presley Enterprises, one of the winners from last year.
|
|
| The presenting sponsor of CEO of the Year is eBiz Solutions. A breakfast honoring the leaders will be on February 20, 2020 at Hardin Hall at the Memphis Botanic Garden. Tickets are $25 per person and include breakfast. Tables of 10 are available for $200, a savings of 20 percent. Get tickets here. |
|
|
|
NEWS FROM OTHER SOURCES
> Sports betting is now open at Southland Casino Racing. Read Toby Sells' story in the Memphis Flyer here.
> AutoZone plans major renovation of Downtown buildings. Read Tom Bailey's story in the Daily Memphian here.
> Uptown/Snuff District designs submitted for approval. Read Greg Akers story in the Memphis Business Journal.
> FedEx responding to coronavirus outbreak. Read Max Garland's story in The Commercial Appeal.
UPCOMING
> Need to know what to do this weekend? Check out Memphis magazine's Five Things To Do This Weekend here.
> Let's Brunch Memphis, hosted by the Memphis Flyer, is Saturday, March 28th, from 12pm-3pm at Beale Street Landing. More info here.
|
|
|
THE HOT SHEET
Who's getting promoted? Who's closing big deals? Who's getting awards? Inside Memphis Business magazine's Hot Sheet has the latest on milestones in Memphis.
> Monitor Magazine, an independent trade publication in the equipment finance and leasing industry, named Sheri Bancroft (pictured) one of the top 50 women in equipment finance in the nation. Bancroft, a co-owner of Memphis-based Bancroft Leasing, was recognized as one of “the most influential and powerful women in the industry.”
> UTHSC researchers Lu Lu, MD, and Darryl Quarles, MD, received a $1.98 million grant from the National Institutes of Health for a new approach to diabetes research.
> Rhodes College named Dr. Justin Rose dean of faculty recruitment, retention, and diversity.
> The Peabody’s Feathers Spa was named the No. 6 spa in the country by Spas of America.
> Office Interiors of Memphis partner/president Ryan E. Heimke became sole owner of the company.
> Redeemers Group, Inc. appointed Jonathan Greer to lead its sales team.
> Farm Credit Mid-America announced the appointment of Vince Bailey as the agriculture financial cooperative’s new executive vice president and chief credit officer.
> Sonesta International Hotels Corporation has appointed Fred Hallman as general manager of Sonesta ES Suites Memphis.
|
|
|
|
POWER PLAYER
Inside Memphis Business magazine publishes a list of local Power Players every year. These are the movers and shakers in more than 30 categories who get things done in their respective fields. The April issue of IMB in Memphis magazine will have the complete list.
|
|
|
This week’s Power Player is Deidre Malone, founder, president, and CEO of The Carter Malone Group, LLC (CMG), a public relations, marketing, advertising and government relations firm headquartered in Memphis. Previously served as vice president of marketing development for ALSAC/St. Jude Children’s Research Hospital and director of public relations for St. Jude Children’s Research Hospital. President, NAACP Memphis; former Shelby County Commissioner.
|
|
|
|
|
|
|
|
