The Commercial Appeal (Memphis, TN) articles from August 2001

The Commercial Appeal (Memphis, TN) archives from August 2001

Tennessee's Showintel Networks Plans to Stream Ads to Theater Lobbies.
August 1, 2001... Byline: Mark Watson Aug. 1--A Collierville company has set out to make its presence as common in movie theaters as Julia Roberts or Eddie Murphy. Showintel Networks plans to start installing an interactive streaming video marketing...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
August 2, 2001... Byline: David Flaum Aug. 2--QUESTION: My wife and I are about four years from retirement. I am 54 and she is 52. We would like to take a large sum from a profit sharing plan where I used to work or a retirement annuity she has and make a...

Union Workers Prepare to Strike Against BellSouth in Memphis, Tenn., Area.
August 3, 2001... Byline: Mark Watson Aug. 3--Picket signs have been printed, and the roster of picketers for each location across the Mid-South has been compiled. All that remains is for Communications Workers of America's District 3 leaders to...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
August 3, 2001... Byline: Linda A. Moore Aug. 3--I'll be the first to admit that whenever a new survey on corporate image and customer service surfaces, my cynicism isn't far behind. Somehow, I can't help but believe if corporations cared as much as...

Job Corps Director Says Program Works in Memphis, Tenn.
August 3, 2001... Byline: Christopher Barton Aug. 3--Richard Trigg, director of the U.S. Department of Labor's Job Corps program, was here Thursday to talk with students at the Memphis Job Corps Center. Trigg cited a recent study that shows the training...

Medical Firm Reports Drop in Sales; Memphis, Tenn., Division Strong.
August 3, 2001... Byline: Christopher Barton Aug. 3--London-based Smith & Nephew Plc, which has a large operation in Memphis, reported that sales for the first half of the year dropped slightly. But the decrease was attributed to the company...

Sales Decline for London-Based Medical Company.
August 3, 2001... Byline: Christopher Barton Aug. 3--London-based Smith & Nephew Plc, which has a large operation in Memphis, reported that sales for the first half of the year dropped slightly. But the decrease was attributed to the company...

Retail Joint Venture Buys Three Nashville, Tenn., Shopping Centers.
August 3, 2001... Byline: Jerome Obermark Aug. 3--MRW Retail Joint Venture has purchased three Nashville shopping centers for more than $15 million from Belz Enterprises. MRW Retail Joint Venture is a partnership of the Phillip H. McNeill Sr. family...

Majority of Farm Bill Funds To Benefit Grain, Rice, Cotton Farmers.
August 4, 2001... Byline: Christopher Barton Aug. 4--The majority of $5.5 billion in special farm assistance approved Friday by the Senate will go to grain, rice and cotton farmers. That news bodes well for farmers in the Mid-South, where cotton and...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
August 4, 2001... Byline: David Flaum Aug. 4--QUESTION: I know that by paying more notes per year, you can shorten a typical 30-year mortgage to about 20 years or so, as you knock down the principal more quickly. Is there a rule of thumb for doing the same...

Memphis, Tenn.-Based Firm's Web Software Draws Interest.
August 4, 2001... Byline: Mark Watson Aug. 4--Online sales account for a small segment of revenues for Jubilations Cheesecakes, of Columbus, Miss. "But it's one of the fastest growing parts of our business," said George Purnell, company vice president...

Little Rock, Ark.-Based Acxiom Criticized for Continued Negative Cash Flow.
August 7, 2001... Byline: Mark Watson Aug. 7--Little Rock-based Acxiom Corporation's leaders face shareholders on Wednesday after a year of plunging stock values, a rare revenue shortfall, pay cuts and layoffs. The company's stock price hit a high of...

Memphis, Tenn.-Area Bank Shifts Responsibilities as Executives Leave, Move Up.
August 7, 2001... Byline: David Flaum Aug. 7--With one executive retiring, another on her way to the Federal Reserve Board and two others promoted, First Tennessee National Corp. is moving up or adding to the duties of five other executives. The stress...

Memphis, Tenn., Able to Attract Many Business Branches in 2000.
August 7, 2001... Byline: Jason Greer Aug. 7--Memphis fared better than half the nation when it came to attracting business branches in 2000. According to the BizMiner Business Vitality Review, August 2001, the rate of new branch development in Memphis...

Memphis, Tenn., Couple Invests in Wal-Mart Embroidery Center.
August 7, 2001... Byline: Linda A. Moore Aug. 7--There's nothing new about the centuries-old art of embroidery. But when Yvonne and Andy Hightower were looking to start their own business, it wasn't just embroidery that attracted them to Hometown...

Advertising Firm Gets $1 Million Account with Memphis, Tenn., Basketball Team.
August 8, 2001... Byline: Linda A. Moore Aug. 8--The advertising firm of Conaway Brown in partnership with Trust Marketing Inc. beat out the competition to land the more than $1 million marketing and advertising account with the Memphis Grizzlies. The...

Memphis, Tenn.-Based Bank Holding Firm Executives to Discuss Future Plans.
August 8, 2001... Byline: David Flaum Aug. 8--When Union Planters Corp. executives talk about their plans for the company's future during a conference call today, they are likely to emphasize growth in their big city markets, discuss added branch sales in...

Memphis, Tenn., to Host Convention of African-American Aviators.
August 8, 2001... Byline: Richard Thompson Aug. 8--Next week, Memphis will host one of the largest gatherings of African-American aviators in the country. It's the annual co-convention of the Tuskegee Airmen Inc. and the Organization of Black Airline...

Unemployed Textile Workers in Dyersburg, Tenn., Attend Career Workshops.
August 8, 2001... Byline: Christopher Barton Aug. 8--DYERSBURG, Tenn.--Kim Craig spent 24 years working at the Dyersburg Fabrics textile mill, which will close at the end of the month. Craig, 44, was hired right of high school. He was laid off July 13....

Memphis, Tenn.-Based Banking Firm's Repositioning to Increase Profits.
August 9, 2001... Byline: David Flaum Aug. 9--Repositioning at Union Planters Corp. will add 20 to 25 cents a share to profits next year and 40 to 48 cents in 2003, UP executives said during a teleconference Wednesday. To do that, the Memphis-based...

National Report Yields Mixed News about Memphis, Tenn.-Area Economy.
August 9, 2001... Byline: Richard Thompson Aug. 9--For Memphis, there is good news and bad news in the latest snapshot of the region's economy, according to a Federal Reserve a national summary report released Wednesday. The Beige Book, the Fed's...

Airlaid Nonwoven Material Maker Starts Production in Mount Holly, N.C.
August 9, 2001... Byline: Christopher Barton Aug. 9--Buckeye Technologies Inc. said Wednesday it has started production at its new airlaid nonwovens factory in Mount Holly, N.C., the largest of its kind in the world. The news came as part of Buckeye's...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
August 9, 2001... Byline: David Flaum Aug. 9--QUESTION: I've heard that you can give cash gifts to your children within certain limits each year. What are the limits? Are these gifts tax deductible, and if so, where do you show the gifts on your income tax...

Wal-Mart to Relocate Store in Memphis, Tenn., Area.
August 9, 2001... Byline: Clay Bailey Aug. 9--Wal-Mart plans to close its Germantown store and relocate to a new Super Center at Germantown Parkway and Trinity about two miles north of the current location. Daphne Davis, community affairs manager for...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
August 10, 2001... Byline: Linda A. Moore Aug. 10--It's everywhere. Advertising is as much a part of the lives of Americans as Saturday morning cartoons or the spectacle of the Super Bowl. It's how we weigh one product against another and one of the...

FedEx Denies `Code Red' Virus Delayed Package Delivery.
August 10, 2001... Byline: Richard Thompson Aug. 10--Memphis-based FedEx Corp. Thursday wouldn't declare total victory over the Code Red worm that infected its computer network Wednesday, but a company spokesman emphatically denied news reports that package...

Memphis, Tenn., Bankruptcy Judges Sets Trial Date in Home Builders' Case.
August 10, 2001... Byline: Christopher Barton Aug. 10--U.S. Bankruptcy Court Judge William H. Brown on Thursday set a trial date to hear two critical motions in the Chapter 11 bankruptcy case of Snyder Home Builders. Mark E. Snyder and Richard S. Snyder...

Arlington, Tenn., Medical Device Maker's Losses Less Than Expected.
August 10, 2001... Byline: Mark Watson Aug. 10--Wright Medical Group's earnings beat analysts' expectations by 2 cents for the first quarterly earnings announcement since the company's July 13 initial public stock offering. The Arlington, Tenn., maker of...

Memphis, Tenn.-Based Bank Holding Firm Bids on First Union, Wachovia Branches.
August 11, 2001... Byline: David Flaum Aug. 11--National Commerce Financial Corp. of Memphis is in the running to buy branches in four Atlantic Coast states that First Union Corp. and Wachovia Corp. of Charlotte, N.C., will have to sell off as part of their...

Memphis, Tenn., Children's Store Owner Opens New Venue for Older Kids to Shop.
August 11, 2001... Byline: Linda A. Moore Aug. 11--Thirteen is an interesting number for Miki Brugge, the owner of Cotton Tails children's store. She opened Cotton Tails in Laurelwood Shopping Center 13 years ago and it's at about 13 years old that her...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
August 11, 2001... Byline: David Flaum Aug. 11--Mid-South public and private schools open this month. If you're a parent getting ready to stock up on school supplies and clothes and deal with needs from band uniforms to immunizations, you need to have a...

National Commerce Financial Corp. Wins Auction on 37 Bank Branches.
August 14, 2001... Byline: David Flaum Aug. 14--National Commerce Financial Corp. (NCFC) won the auction for 37 bank branches in four Atlantic Coast states that First Union Corp. and Wachovia Corp. must sell before they may merge. NCFC signed an...

Family Spreads Word about Quality of Guatemalan Coffee in Memphis, Tenn., Area.
August 14, 2001... Byline: Linda A. Moore Aug. 14--For four generations the family of Carlos Ralda has grown coffee in the mountains of Guatemala. But it was only recently that the family has moved beyond farming and selling coffee wholesale to marketing...

FedEx's Chairman Feels 2.7 Percent Pay Pinch.
August 14, 2001... Byline: Richard Thompson Aug. 14--The slowing economy didn't just corrode FedEx Corp.'s domestic average daily shipping volume in its fiscal 2001; it eroded the salary and bonus for Frederick W. Smith. For the 12 months ended May 31,...

Three Firms Seek Tax Breaks from Memphis, Tenn., Industrial Development Board.
August 14, 2001... Byline: Christopher Barton Aug. 14--Three companies are looking to expand in Memphis and create up to 281 jobs in three years, according to the Memphis and Shelby County Industrial Development Board. The companies on Wednesday will...

Smyrna, Tenn., Nissan Workers Ask Labor Group to Oversee Union Election.
August 15, 2001... Byline: Christopher Barton Aug. 15--Workers at the Nissan Motor Co. plant in Smyrna, Tenn., on Tuesday filed a petition with the National Labor Relations Board to oversee a union election. The workers hope to join the United Auto...

Report Shows Southern Companies Received Fewer Funds.
August 15, 2001... Byline: Mark Watson Aug. 15--Venture capital investment in the Mid-South continued to decline in the second quarter, compared to the same period of 2000. New companies in Arkansas, Mississippi and Tennessee received less than $17...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
August 16, 2001... Byline: David Flaum Aug. 16--QUESTION: My uncle died in August 2000 and paid federal income taxes for that year. The IRS has informed me as executor of his estate that he is being sent a $300 (tax rebate) check. They are aware that he is...

Georgia-Based Music Wholesale, Retail Firm Buys 64 Stores.
August 16, 2001... Byline: Linda A. Moore Aug. 16--The Music Network, a Georgia-based music wholesale and retail company has purchased 64 stores in the Wherehouse Music chain, including the two Memphis locations. The Memphis stores are located in Poplar...

Tennessee Ranks 10th on Small Business Survival Index.
August 16, 2001... Byline: Linda A. Moore Aug. 16--Tennessee's lack of a state income tax was a key factor in its number 10 ranking on the Small Business Survival Index, produced by the Small Business Survival Committee. But the state's high sales tax,...

Memphis, Tenn.-Based Entrepreneur Aims to Create Successful Hardwood Business.
August 16, 2001... Byline: Christopher Barton Aug. 16--A Memphis entrepreneur hopes to turn a former wood factory in North Memphis into a thriving hardwood business in the next several years. Bill Courtney, president of Classic American Hardwoods Inc.,...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
August 17, 2001... Byline: Linda A. Moore Aug. 17--To Dorit Boxer a free trip to Disney World sounded great. That's why she didn't think twice about entering a drawing a few weeks ago at the MidSouthLiving Home and Garden Show. A few days later Boxer...

Profits Jump for Memphis, Tenn.-Based Drug, Treatment Distributor.
August 17, 2001... Byline: David Flaum Aug. 17--Accredo Health Inc.'s fourth quarter and fiscal year end profits shot up more than 70 percent over a year ago, executives of the Memphis-based drug and treatment distributor reported Thursday. They also...

Finance Panel Approves Property Tax Freeze on Memphis, Tenn., Warehouse.
August 17, 2001... Byline: Jerome Obermark Aug. 17--The Center City Revenue Finance Corporation on Thursday approved an 18-year property tax freeze on a downtown warehouse undergoing conversion to offices for Memphis Incubator Systems Inc. at 516 Tennessee...

Atlanta-Based Firm's Memphis, Tenn., Auto Parts Distribution Center To Move.
August 18, 2001... Byline: Jerome Obermark Aug. 18--If a household move across town sounds challenging, consider what Jim Jerden, general manager for NAPA Auto Parts, is up against. For the past six months he's been planning a move of the NAPA Memphis...

The Commercial Appeal, Memphis, Tenn., Business Briefs Column.
August 18, 2001... Aug. 18--RIDDELL SPORTS POSTS LOSS: The sale of Riddell Sports Inc. team sports division led to a second quarter loss for the Memphis-based company, executives said Friday. Riddell, Memphis-based parent company of Varsity Spirit...

Bankrupt Memphis, Tenn., Development Firm To Get Trustee.
August 18, 2001... Byline: Christopher Barton Aug. 18--A trustee is scheduled to be appointed next week to sift through reams of legal documents and propose ways to get millions of dollars from bankrupt Snyder Home Builders. U.S. Bankruptcy Judge William...

Take the Fear Out of Retirement By Saving Early, Wisely.
August 18, 2001... Byline: David Flaum Aug. 18--At age 29, Dr. Jara Best has her eye on retirement. It's not that the pediatric resident knows when -- or even if -- she wants to stop working. But this month, she opened a Roth IRA account with plans...

Chattanooga, Tenn., Company to Repair Memphis Ceiling Fans.
August 21, 2001... Byline: Christopher Barton Aug. 21--Memphis-based Hunter Fan Co. has reached an agreement with a Chattanooga company to repair its ceiling fans. Hunter, which employs about 350 workers at its factory in Memphis and distribution center...

Baltimore-Based Construction Company Suffers Losses in Second Quarter.
August 21, 2001... Byline: David Flaum Aug. 21--RailWorks, which owns Concrete Products Inc. (CPI) of Memphis, reported large second quarter losses Monday as two of the top executives of the company resigned. The company lost $38.1 million or $2.48 a...

Sales at Minneapolis-Based Medical Company Rise in First Quarter.
August 21, 2001... Byline: Christopher Barton Aug. 21--Minneapolis-based Medtronic Inc., which has a large operation in Memphis, reported first fiscal quarter sales (ended July 27) of $1.46 billion, up from $1.31 billion during the same period a year ago....

Memphis, Tenn.-Based Pest Control Firm to Take over Sears Operation.
August 21, 2001... Byline: Christopher Barton Aug. 21--Memphis-based Terminix International, which employs about 10,000 people in 48 states, is taking over the operations of a Sears, Roebuck and Co. pest control company. ServiceMaster Co., the parent of...

Goldman Sachs to Close Office in Memphis, Tenn.
August 22, 2001... Byline: David Flaum Aug. 22--The Goldman Sachs Group Inc., a New York brokerage giant, will close its Memphis office at the end of October, corporate officials said. Most of the 40 employees in the private wealth management office...

Memphis, Tenn.-Based Cancer Treatment Center to Sell Part of Business.
August 22, 2001... Byline: David Flaum Aug. 22--Response Oncology Inc. continued losing money in the second quarter of this year as it agreed to sell off a piece of its business and looked for additional financing, company executives said Tuesday. The...

Tennessee Expects to Post $5 Billion in Capital Investments during 2001.
August 22, 2001... Byline: Christopher Barton Aug. 22--As the Federal Reserve cut key interest rates Tuesday, the state's top economic recruiter said the state is expected to post more than $5 billion in capital investments this year despite the sluggish...

New Surgery Center Opens for Business in Memphis, Tenn.
August 22, 2001... Byline: Jerome Obermark Aug. 22--Campbell Clinic broke ground Tuesday for an 11,285 Ambulatory Surgery Center at 1410 Brierbrook. The new $5.2 million facility will be built on a 2.5-acre site behind the Campbell Clinic and...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
August 23, 2001... Byline: David Flaum Aug. 23--QUESTION: I am thinking about selling some personal jewelry I have received as gifts. If the jewelry has appreciated in value, will I have to pay income tax on it? -- E.S., Memphis ANSWER: If the...

Reverse Stock Split Takes Effect at Tennessee-Based Internet Pictures Corp.
August 23, 2001... Byline: Mark Watson Aug. 23--A one-for-10 reverse stock split for Internet Pictures Corp. becomes effective today, following Wednesday's approval of the proposal by shareholders at the company's annual meeting at the Memphis Adam's Mark...

Mexican Steelmaker to Buy Memphis, Tenn.-Based Subsidiary of LTV.
August 23, 2001... Byline: Christopher Barton Aug. 23--A Mexican company will pay $102 million for Memphis-based VP Buildings Inc., a subsidiary of bankrupt steelmaker LTV Corp. of Cleveland. Grupo IMSA S.A., based in Monterrey, Mexico, is a $2.2 billion...

Electronic Check Conversion Grows in Popularity.
August 24, 2001... Byline: Linda A. Moore Aug. 24--You may have recently written a check to pay for something and had the store clerk process the check, have you sign a receipt and then give the check back. It's a process called electronic check...

Memphis, Tenn.-Area Firm Forges Business Alliance to Offer Financial Services.
August 24, 2001... Byline: David Flaum Aug. 24--Rodney Herenton and First Tennessee National Corp. will get together form a business alliance to offer financial services to governments and other institutions. Herenton, 35, son of Memphis Mayor Willie...

Memphis, Tenn.-Area Unemployment Rates Fell in July.
August 24, 2001... Byline: Christopher Barton Aug. 24--Area county unemployment rates dropped in July, according to the Tennessee Department of Labor and Workforce Development. Shelby County's unemployment rate dropped from 4.3 percent in June to 3.9...

Germantown, Tenn.-Based EverythingTele.com Benefits from Dot-Com Slump.
August 24, 2001... Byline: Mark Watson Aug. 24--Grey clouds hovering over the tech sector have offered a rich vein of silver for Germantown's EverythingTele.com. Founded in May 2000, EverythingTele.com offers a business-to-business online market for...

Germantown, Tenn., Firm Joins Forces with Terra Lycos to Offer Online Security.
August 24, 2001... Byline: Mark Watson Aug. 24--Internet surfers across the Western Hemisphere, Europe and Asia may soon use software from Germantown's uMonitor Inc., as that company has made a deal with Terra Lycos, one of the largest Internet service...

Retired Air Force Colonel Champions Project Commitment in Memphis, Tenn., Talk.
August 25, 2001... Byline: Mark Watson Aug. 25--In managing a project, technical expertise is less important than commitment to a clear vision of the project's goal and the skills to build relationships and influence the people involved to accomplish it. ...

Memphis, Tenn., Housing Sales Rise, along with Inventory.
August 25, 2001... Byline: Jerome Obermark Aug. 25--Housing sales in the Memphis area rose 10 percent in July, but the inventory of homes for sale grew even more. Also, U.S. new home sales unexpectedly rose in July, selling at the fastest pace in four...

Two Memphis, Tenn., Commercial, Industrial Real Estate Brokers Merge, Move.
August 25, 2001... Byline: Jerome Obermark Aug. 25--Two Memphis firms with long histories in commercial and industrial real estate brokerage are merging and moving to new quarters. Edward LeMaster Co. Inc., and E. H. Crump Realty Inc. are merging to form...

The Commercial Appeal, Memphis, Tenn., Stocks Column.
August 25, 2001... Byline: David Flaum Aug. 25--You've just started your first job and jumped at the chance to join the company 401(k) plan. And, you have a little extra to put aside in an Individual Retirement Account. But how do you decide what to...

Isle of Capri Executives Upbeat on Future of Tunica County, Miss., Casino.
August 28, 2001... Byline: David Flaum Aug. 28--Isle of Capri Casino & Hotel in Tunica County has yet to turn its first dime of profit although it has been open two years. But, executives believe they can get the smallest of the 10 Robinsonville, Miss.,...

Former Tennessee Governor Speaks to Business Leaders on Economic Development.
August 29, 2001... Byline: Christopher Barton Aug. 29--Former Tennessee governor Lamar Alexander said Tuesday he would not secondguess Gov. Don Sundquist, but admitted that recent cuts in education will likely hurt the state. Alexander said he doesn't...

Air Transport as per FedEx's Contract with the U.S. Postal Service Begins.
August 29, 2001... Byline: Richard Thompson Aug. 29--The $6.3 billion air transport portion of the FedEx-U.S. Postal Service contract began with no fanfare Monday night. In fact, the only apparent happening marking the occasion is expected to take place...

Monsanto Hosts Educational Tour in Marion, Ark.
August 29, 2001... Byline: Christopher Barton Aug. 29--MARION, Ark.--Monsanto Co. officials expect more than 200 agricultural dealers and growers to tour its Asgrow Research Center in Marion this week as part of ongoing biotechnology education efforts. ...

Memphis, Tenn.-Based Discount Retailer Plans Stock Offering.
August 29, 2001... Byline: Linda A. Moore Aug. 29--Fred's Inc. has filed a registration statement with the Securities and Exchange Commission in connection with an offering of 1,650,000 shares of common stock. Memphis-based Fred's plans to offer 1.5...

Seminar Envisions Growth of Biotech Industry in Memphis, Tenn.
August 30, 2001... Byline: Mark Watson Aug. 30--The Memphis area is fertile ground for biotech, but it requires more labor and careful tilling to bear fruit. That's the upshot of Wednesday's seminar, Accelerating Success in Memphis, organized by the...

Memphis, Tenn., Launches City Web Site.
August 30, 2001... Byline: Mark Watson Aug. 30--Memphis has a new "cyberface," starting at 8 a.m. today. Mayor Willie W. Herenton is launching the "cityofmemphis.org" portal, allowing citizens to obtain information and do more city business online. ...

The Commercial Appeal, Memphis, Tenn., Money Matters Column.
August 30, 2001... Byline: David Flaum Aug. 30--COLLEGE SAVINGS HELP DETERMINE AID NEED: QUESTION: I am a retail manager earning about $48,000 annually. I have been told that my children going to college would receive financial aid, adjusted for whatever...

Memphis, Tenn., Tissue Maker Keeps Tax Incentives Despite Layoffs.
August 30, 2001... Byline: Christopher Barton Aug. 30--American Tissue Inc. appears to not be in any immediate danger of losing its local tax incentives granted last year despite laying off one-third of its workforce. The company announced last week it...

The Commercial Appeal, Memphis, Tenn., Wise Consumer Column.
August 31, 2001... Byline: Linda A. Moore Aug. 31--The popularity of debit cards from companies like Visa and MasterCard is understandable. Use the cards just like a credit card, but have the money deducted from your bank account, just like a check. ...

Memphis, Tenn.-Based Electronic Processor's Stock Splits.
August 31, 2001... Byline: David Flaum Aug. 31--Concord EFS Inc. directors approved a two-for-one stock split Thursday as the company started uniform pricing on its three debit networks, Bank of America withdrew from the company's Star network and Concord's...