Business
Co-living community planned for historic Cycle Shop property
Memphis’ Tomorrow Building will be six stories tall with 108 residential units and ground-floor retail space.
Rob Moore
There are 762 articles by Rob Moore :
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August 2023
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Transportation & Logistics FedEx CEO to earn a new base salary of more than $1M
The increase will bring Raj Subramaniam’s base salary, first set in 2022 months after he took leadership of the company, from $1.3 million to $1.45 million.
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Real Estate Affordable cottage community planned for Uptown
The project “increases Downtown housing options and diversity of offerings by adding unique cottage-style housing product to the market,” according to a report from the Downtown Memphis Commission.
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Real EstateInked: FedEx World Hub is expanding and so are Dunkin’ and Starbucks
Located at Memphis International Airport, the World Hub will include both office space and “state-of-the-art package sortation infrastructure.”
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Business HVAC manufacturer to invest $18M in Memphis expansion
RedDot said Tuesday that the new project will result 50 new jobs in Shelby County.
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Real EstateInked: Mobility Center opens; Spirit Halloween prepares for fall
Nearly three years and $40 million later, the Downtown Mobility Center will open Thursday, Aug. 3.
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July 2023
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Ford Megasite BlueOval SK hiring; workers to make $21 to $29 per hour
Working with third-party consultants, BlueOval SK conducted wage and benchmarking studies to determine employee pay and benefits.
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Transportation & Logistics Closure of trucking giant Yellow could impact more than 500 local jobs
Yellow has not formally announced its closure, but a representative of Teamsters Local No. 667, which represents 4,000 local workers, said the company going out of business would affect about 550 of its members.
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Transportation & Logistics One member of FedEx board of directors resigns, another won’t run again
V. James Vena, who only served on FedEx’s board for one year, has resigned. Kimberly A. Jabal will not stand for reelection.
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City of Memphis MATA’s next service update includes change to Lauderdale Route
An analysis of transit ridership patterns, economic factors and community feedback is guiding MATA’s decision making.
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Real Estate Mixed-use project at Cycle Shop property gets $35M investment
The restoration of the Cycle Shop itself is nearly complete, with the expected groundbreaking for the multi-family element of the project set for early 2024.
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Real EstateInked: Binghampton plans sculpture park; ‘Cowboy Church’ requests variance
Carpenter Art Garden wants to lease land from the city, while Calvary Church wants to teach kids to ride horses.
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Transportation & LogisticsWhy did deal between FedEx and pilot union collapse?
The news Monday left some wondering if a strike by FedEx pilots was imminent.
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Transportation & LogisticsOn the road to consolidation, FedEx’s aircraft fleet grows
One of the main reasons FedEx’s fleet has grown despite the company saying it plans to scale back is due to purchase commitments it has made with aircraft manufacturers like Boeing.
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Update
Transportation & LogisticsFedEx pilots reject new contract
FedEx pilots rejected a tentative agreement with the company by a vote of 57% to 43%.
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Ford MegasiteBuilding 3 plants to supply BlueOval ‘really shows our commitment’
Altogether, Canada-based Magna International plans to invest $790 million to create three facilities to supply parts for the campus near Stanton, Tennessee.
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Ford Megasite Manufacturer to invest more than $790M in BlueOval supplier facilities, create 1,300 jobs
One of the world’s largest automotive suppliers will build the first two supplier facilities at Ford’s BlueOval City supplier park in Stanton, Tennessee.
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Transportation & Logistics Airport Authority approves nearly $50M for new development projects
The bulk of that went to approve a proposal of more than $44 million for the reconstruction of the west half of the Taxiway Alpha at Memphis International Airport.
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Financial ServicesFirst Horizon CFO says strong earnings day should reassure clients and investors
Despite potential uncertainty following the dissolution of a $13.4 billion merger with TD, First Horizon says it pulled in 32,000 new-to-bank clients during the quarter, bringing $3.5 billion in deposit balances.
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Transportation & Logistics FedEx lays off small team, closes Indianapolis facility
“Decisions of this nature are never made lightly and are the result of much thought and consideration for the needs of our business,” FedEx said in a confirmation email to The Daily Memphian.
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BusinessInked: $2.5M for Millington airport, 48 S. McLean Blvd. project moves forward
When the Federal Aviation Administration announced in March it would invest $14.8 million into upgrades at Memphis International Airport, the agency also announced it would grant Millington’s airport $1 million toward the new terminal.
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Transportation & LogisticsNew FedEx CFO will earn an annual salary of $919,000
In addition to his salary, FedEx announced Monday that Dietrich will receive a signing bonus of $200,000, which will be paid in two installments.
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FedEx names new CFO and EVP, announces shifts in its finance team
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Transportation & Logistics FedEx names new CFO and EVP, announces shifts in its finance team
The Memphis-based company announced Monday, July 17, its hiring of John W. Dietrich to the role, which will be vacated by CFO Michael C. Lenz on July 31.
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Business Greater Memphis Chamber travels to New York, shares Bluff City’s story
Chamber leadership met with media representatives in the Big Apple to discuss Memphis’ robust economic development pipeline, as well as the area’s workforce diversity.
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Real Estate Owner prepares sale of Eastgate Shopping Center’s office buildings
An affiliate of Gulf Coast Commercial Management, 210 Development bought the 450,000-square-foot office and retail center in 2022 for $49.1 million.
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