Inside Memphis Business
by Jon W. Sparks and Samuel X. Cicci

What's happening: How's the housing affordability?
News from other sources: High on West Memphis
Upcoming: Startup of the Year Summit
Hot Sheet: Who’s going where
Power Player: David Rudd
Quotable: Jason Martin

- RealtyHop's October version of the RealtyHop Housing Affordability Index is out. What's it like to purchase a home in the 100 most populous cities across America? Memphis ranked #75 out of 100 cities in terms of affordability when it comes to owning a home. October's home price for Memphis was listed at $160,000 while the share of income for homeownership was listed at 27.01 percent. 

- Meanwhile, census data shows that seniors will outnumber kids by 2035. Communities need to be ready to meet the physical and mental needs of older adults. The 2019 Senior Living Report from ranks the Best and Worst Cities for Seniors to Live based on healthcare, housing options, community engagement, transportation, quality of life and workforce development. Memphis ranks at number 142 out of 302 cities, while cities like San Francisco, Fredericksburg, Washington, Boston, and Brooklyn are among the top ten senior-friendly cities.

- Memphis-based nexAir is one of the top distributors of atmospheric gases and welding supplies in the country. This week it unveiled its "KnowHow" message as part of its Forge Forward campaign. The idea is to work closely with customers in creative problem solving. This YouTube video explains it:

- One of three approved medical marijuana dispensaries will soon open in West Memphis. Read Toby Sells' story in the Memphis Flyer's CannaBeat here.

- A private company led by businessman J.W. Gibson has paid back property taxes on the Firestone Tire & Rubber Co. plant in North Memphis. Looks like there might be new development afoot. Read the story by Bill Dries and Tom Bailey in the Daily Memphian here.

- Kroger is eliminating hundreds of local management jobs around the country. Read The Commercial Appeal story here.

- FedEx is hiring for permanent jobs. Read Meagan Nichols' story in the Memphis Business Journal here.


- Startup of the Year Summit sponsored by Start Co. and Established. One hundred semifinalists are competing for the chance to win $100,000. The event is focused on building connections between startups, investors, and current brands. October 14-16, various locations. Visit their website for more information here.

- The Memphis Grilled Cheese Fest is Sunday, Nov 10, 2019, from noon to 6 p.m. at 412 N. Cleveland. It's family-friendly and dog-friendly, benefitting ALIVE Memphis Rescue. More info here.
- Need to know what to do this weekend? Check out Memphis Magazine's Five Things To Do This Weekend here.
Memphis Parent School Expo

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.

- Women Inc. magazine named Baker Donelson to its “Top 100 Law Firms for Women” list.
- Silvia Alvarez (pictured) of Memphis has joined Esperança’s Board of Directors. She is Senior Vice President, Director of Corporate Communications for First Horizon National Corporation based in Memphis. Previously, she worked as a strategic communications counselor and spokesperson for campaigns and government offices of U.S. Senator Corey A. Booker and New York City Mayor Michael R. Bloomberg.

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. IMB’s April issue has the complete list. We also publish individual categories in other issues throughout the year, and we feature individual Power Players in our weekly Tip Sheet.
This week’s Power Player is David Rudd, president, University of Memphis. Ph.D., Psychology, University of Texas-Austin. Has record fundraising over the past four and a half years, total more than $160 million, exceeding historic averages by 50 percent. Significant improvement in retention and graduation rates, with the six-year graduation rate now exceeding the national average for public universities at 52 percent, and received national recognition from the Association of Public and Land Grant Universities. The last several years have witnessed significant investment in the University District, including the opening of the University’s first-ever research park. Innovation efforts, including UMRF Ventures, received a national award from the Association of State Colleges and Universities. Has maintained historic lows in tuition and fee increases over his tenure, with an average of 1.7 percent compared to a 7.4 percent average over the previous 15 year span, and two of the last five years with no tuition increase. University research expenditures reached an all-time high this past fiscal year at almost $65 million. Actively investing in an effort to reach Carnegie Tier I status in the next five years.
For the complete list of Inside Memphis Business Power Players, go here.
Memphis Magazine 901

"What we're doing is reaching out to social media gurus with large audiences who use CBD oil. They share how the products have benefited them, which clears up common misconceptions about CBD products and educates the general public."

- Jason Martin, Tree of Life CEO. Read more from the Memphis Flyer.
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