Beige Book: Health care, retail, hospitality among biggest drags on economy
Federal Reserve economist Kevin Kliesen says pace of recovery will depend on the speed restrictions are lifted and "the willingness of individuals to resume normal life."
Christin Yates
Freelance Reporter
Christin Yates is a native Memphian who has worked in PR and copywriting for a decade. She earned her B.S. in public relations and M.S. in mass communications from Murray State University.
185 articles by Christin Yates :
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May 2020
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Paragon Bank reports most profitable Q1 in its history
The Memphis-based bank has processed more than 700 Paycheck Protection Program loans, totaling $90 million in loan volume.
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Arcade games may be slow to return, but Rec Room heading outdoors
The venue also has become "home" to 901Wrestling, which hopes to resume live matches around mid-June when the Rec Room plans to reopen.
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Malls reopen, but not all big-box retailers welcoming customers
Safety appears to be the primary concern of large retailers that remain in no hurry to reopen all of their stores just yet.
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Local retailers address fashion as Memphians come out of quarantine
Apparel retailers see a desire to dress up from customers returning to stores, but athleisure trend won't be going away any time soon.
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Second round of PPP funds to soon run out
The second round of the Paycheck Protection Program's forgivable-loan funds is running out. Banks are scrambling to help small businesses before the money is gone.
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ServiceMaster trims workforce, withdraws guidance due to COVID-19 impact
Interim CEO Naren Gursahaney voluntarily reduces salary 25% and is optimistic the company is well-positioned to endure the pandemic.
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Memphis banks respond to COVID-19
Pinnacle Financial Partners, for one, does not "feel rushed by any means to reopen our lobbies."
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April 2020
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BuyTime enables experts to be compensated for consulting time
Hosts can name the price for their time, but anyone can be a buyer and anyone a host.
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Update: First Horizon adds $135M to loan loss provision in Q1
Memphis banking company expects to close on its $3.9 billion merger with Iberiabank by the end of the second quarter.
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Update: Pinnacle earnings down in first quarter
Return on average assets and on common equity fall sharply in the first quarter as Pinnacle boosted reserves for loan losses by $86 million.
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BancorpSouth beats estimates in Q1, focuses on navigating COVID-19
BancorpSouth records $46 million provision for loan losses as COVID-19 increases loan volume under CARES Act.
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Small businesses left empty-handed as Paycheck Protection funds run out
As Congress debates adding more funds to the Paycheck Protection Program, many small businesses try to hang on.
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Latest Beige Book not optimistic, but ‘not surprising’
The questions of how bad the economy could get still persist, making future Beige Book reports important for signs of how long the carnage could last.
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Technical, community colleges adapt to distance learning
Moore Tech looks at scheduling appointments for students to use equipment. Southwest builds on online learning programs developed prior to the pandemic.
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Some VC, private equity firms on the outside of CARES Act
Aggregation rules that impact the 500-employee threshold to receive federal relief funds through the Paycheck Protection Program have venture capital firms like SSM Partners in Memphis debating tough, complex decisions.
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March 2020
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Coronavirus daily blog, March 28: Cases top 1,300 statewide; 2 deaths in Memphis metro area
• Shelby County Health Department confirms a death; Mississippi Department of Health reports one
• Businesses can apply for both available relief loans
• Germantown lays off all part-time city employees
• Jail visitations via video only -
What to know about COVID-19 SBA disaster lending
Local professionals give advice for small businesses hurt by coronavirus plague and steps businesses can take to get needed capital.
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COVID-19 affects stock market, mortgage refis
Consumers may think mortgage interest rates have fallen in line with Federal Reserve rate cuts, but there are other factors contributing to mortgage rates.
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Updated: Weather affected AutoZone Q2 results, coronavirus could hurt sales
President and CEO Bill Rhodes cites mild winter in portions of the U.S. for sales that fell short of consensus estimates.
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February 2020
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Agtech companies get five minutes to impress at Demo Day
This summer, these companies will participate in field trials through the AgLaunch Farmer Network to gain invaluable feedback from farmers.
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Local wealth managers weigh in on stock market tumble
At least one wealth manager says the markets could see another 10% drop, but volatility is something investors should expect and endure.
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ServiceMaster revenues increased 9% in 2019
An increase in claims for termite damage in ServiceMaster's Terminix brand affected fourth-quarter net income.
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Five agtech companies to showcase innovative technologies at demo day
The participating companies were selected at the Row Crop Challenge at the Farm Journal AgTech Expo and have completed the AgLaunch365 accelerator program.
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