The Tip Sheet
The latest in Memphis business news
July 2012
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07/27/12Methodist Joint Venture Now Part of HealthSpringStarting August 1, Medicare Advantage plan HealthSpring will give members access to six Methodist hospitals and select MetroCare doctors at in-network rates. Access comes through an agreement with Health Choice, a physician-hospital joint venture between MetroCare Physicians and Methodist Healthcare. The agreement happened because of Health Choice's long-term relationship with HealthSpring, whose parent company is Cigna. Cigna acquired HealthSpring earlier this year. Under the agreement, HealthSpring members also will receive the benefit of certain home health services, outpatient surgery centers, minor medical centers, diagnostic centers, sleep centers, and hospice care. The only Methodist Hospital not included is Le Bonheur Children's Hospital. |
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07/24/12Magna Bank Becomes Chartered by StateMemphis-based Magna Bank is now a state-chartered commercial bank because of an expansion in its offerings since 2007. The state charter, awarded by the Tennessee Department of Financial Institutions, also has led to the bank's inclusion in the Federal Reserve System. Magna was previously chartered as a federal savings bank because of its residential and commercial real estate loans. But since '07 the bank has expanded into small-business lending, private banking, commercial banking, and a bigger retail presence. The bank elected to become part of the Federal Reserve because of its new state-chartered status. This helps ensure compliance between federal and state banking regulations. |
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07/17/12Homewood Suites and Books for Kids to Open LibraryTomorrow (July 18) is the grand opening of a Books for Kids library at the Hanley Head Start Center on Spottswood in East Memphis. Its purpose is to provide low-income children access to new, age-appropriate books. This is the second opening in Memphis of a Books for Kids library, a joint project with extended stay hotel brand Homewood Suites by Hilton. Homewood Suites has contributed to three other openings elsewhere and is helping Books for Kids expand nationally. Shelby County Mayor Mark Luttrell and other dignitaries will be on hand at the opening from 1:45 to 3 p.m. Books for Kids' mission is to provide resources for preschool-age children and their families. The organization has opened more than 70 libraries with about 25,000 books. Homewood Suites has more than 300... |
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07/13/12StyleCraft Expands in DeSoto CountyDeSoto County-based StyleCraft Home Collection is moving and expanding into a 167,000-square-foot space in the Airways Distribution Center in Southaven. Atlanta-based Industrial real estate company IDI owns the property, and Allen and Dan Wilkerson of Colliers International represented StyleCraft in the lease deal. StyleCraft supplies lighting, wall decor, mirrors, decorative accessories, framed art and furniture to customers worldwide. Ten-thousand square feet of the new space will be used as a lighting and decor showroom. The company has other showrooms in High Point, North Carolina; Las Vegas; Dallas; Atlanta; and Tupelo. It also operates a quality control, product development office, and showroom in China. Airways Distribution is a class-A business park on Marketplace... |
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07/11/12Duncan Williams Expands Its FootprintMemphis-based Duncan Williams Inc., a full-service brokerage firm, has opened two new Southern offices — one in Dallas and one in Nashville — and recently hired four investment bankers. In the public finance office in Dallas, Brit Stock, vice president, and Karl Biggers, managing director, began work in May. Both have many years of investment banking experience. Meanwhile, veteran investment banker Dave Meagher is serving as director of healthcare investment banking in Nashville, while Rick Coad has signed on at the firm's office in Birmingham. His role there is vice president. He previously worked for Raymond James/Morgan Keegan and AmSouth Bank. Other Duncan Williams offices are in Manhattan; Chicago; Atlanta; Houston; Cleveland and Akron, Ohio;... |
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07/06/12June Home Sales Down — Along With Area ForeclosuresJune home sales dipped by 2.4 percent from last year, according to the Memphis Area Association of Realtors (MAAR), with 1,277 total sales. And although June sales were down 11.4 percent from May, average year-over-year sales price rose 9.4 percent to $146,198. Year-to-date sales volume increased 16.6 percent to $873.1 million. Other items of interest: June new home sales decreased 34 percent from 71 in 2011 to 47 this year. June bank sales decreased 9.7 percent from 401 last June to 362 this June. June foreclosures dropped a little more than 10 percent from 355 last year to 319 this year. MAAR's data include all property transactions in Shelby, Fayette, and Tipton counties. For more home sales statistics, visit www.maar.org/marketreports. |
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07/05/12Nonprofit Leader Joins Regional Health CouncilRenee Frazier, CEO of the nonprofit Healthy Memphis Common Table since 2009, has been selected by the National Partnership for Action to End Health Disparities (NPA) to serve on its Regional Health Equity Council. Region IV, one of 10 councils nationally, is made up of Alabama, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, and Tennessee. Frazier joins up to 35 other health leaders from the region in working to combat health disparities and achieve equality, particularly for minorities. NPA is led by the federal Office of Minority Health. Before leading Healthy Memphis Common Table, Frazier held executive healthcare positions in Pennsylvania and Maryland. To learn more about the Regional Health Equity Council or the NPA, visit... |
