WHAT’S GOING ON
– There are six Memphis ZIP codes with low average rents, placing them among a group of 50 ZIP codes that charge less than $600. The survey by RENTCafé showed the cheapest of the six is ZIP code 38106, where the average rent is $471. It is the second cheapest at a national level.
Neck-and-neck are ZIP codes 38114 and 38127, registering average rents of $516 and $517, respectively. ZIP code 38118 rounds up the top, nearing the threshold, as it charges $589 in average rents. The cost of renting here also went up the highest, 5.9% since last year.
– Christian Brothers Automotive Southaven is donating services and repairs to individuals in need this Saturday in a nationwide event. More than 180 Christian Brothers Automotive locations will provide free oil changes and safety checks to families and individuals in need. The event is being supported by the Junior Auxiliary of DeSoto County. It’s happening October 12 from 10 a.m. – 12 p.m. at 1676 Goodman Rd E, Southaven.
NEWS FROM OTHER SOURCES
– Demand for e-bikes is growing, so Victory Bicycle Studio is now letting customers try them out for three days to see if they like the powered two-wheelers. Read Maya Smith’s story in the Memphis Flyer here.
– A zoning board OK’d plans for a second Memphis convention center hotel. The Loews 500-room, 17-story hotel on Civic Center Plaza was approved Thursday. Read Wayne Risher’s report in the Daily Memphian here.
– The Downtown Memphis Commission is proposing renovation of the old North Memphis Savings Bank building, which has been DMC’s home for more than 20 years. Read Jacob Steimer’s story in the Memphis Business Journal here.
– Cookware and home decor retailer Williams-Sonoma is hiring 2,200 employees at its local distribution centers. Read Desiree Stennett’s story in The Commercial Appeal 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.
– Pizza With Planners: BLDG Memphis’ ongoing free panel series focuses on building communities around parks. Panelists include Amy Collier (Memphis Parks Division), Claire Brulatour (BlueCross BlueShield of Tennessee, Community Trust and Foundation), Jamal Boddie (Memphis River Parks Partnership), Cyndy Grivich (Memphis City Beautiful), and Jo Ann Street (HUG Park Friends). October 15th, 5:30-7 p.m. Benjamin L. Hooks Central Library. Sign up here.
– Memphis Tequila Fest, 6-9 p.m. Friday, October 25th at Overton Square. Memphis Flyer‘s third annual celebration with more than 30 types of tequila. Tickets $44. Info is here.
– Memphis Parent‘s School Expo, 10 a.m. to 1:30 p.m. Saturday, October 26th at Memphis Botanic Garden. Meet school staff, see informational videos, and pick up take-home materials for planning your child’s education. FREE. Info is here.
– Crafts & Drafts, 10 a.m.-5 p.m. Saturday, November 9 at Crosstown Concourse. The fifth annual Memphis Flyer event is a day of local shopping and local brews. Family-friendly, dog-friendly and FREE. Info is here.
– The Memphis Grilled Cheese Fest, noon to 6 p.m. Sunday, Nov 10 at 412 N. Cleveland. It’s family-friendly and dog-friendly, benefiting ALIVE Memphis Rescue. More info here.
– Holiday Spirits Winter Cocktail Fest, 6-9 p.m. Friday, November 22 at Overton Square. Stroll through Overton Square sipping cocktails, listening to music and waving to Santa. Info is here.
– Need to know what to do this weekend? Check out Memphis magazine‘s Five Things To Do This Weekend here.
October is Financial Planning Month and a good time for a few words to the wise. Holley G. Cary (pictured), CFP, is vice president and financial planner at First Tennessee Bank National Association, and she has some advice if you want to protect your finances — and who doesn’t? We’re all in favor of improving our quality of life and getting focused on goals, whether personally or for small business.
So here are her seven tips for getting into action:
– Create a written spending plan. Better than budgeting, which can be mentally restricting, plan to spend what you need for your lifestyle. Address fixed expenses first, such as rent, mortgage, utilities and groceries, then develop a discretionary plan for larger one-time expenses.
– Create a written savings plan. Take advantage of your employer’s pre-tax plan at work. If none is available, look into the suitability of a traditional or ROTH IRA option through your bank or investment advisor.
– Create an emergency fund. Start saving 10 percent of your income through automatic transfers, keeping in mind this is a fixed expense in your spending plan. Target the equivalent of three to six months of expenses as an anticipated balance in a liquid savings account.
– Create a debt pay down or payoff plan. Examine your “smart debt” — mortgage, student loans, vehicle acquisitions — against your discretionary debt, which includes things like credit cards and other high-interest notes. Use the “snowball method,” first targeting the debt or credit cards with high interest rates. Then work towards a method of paying down subsequent accounts with payments saved.
– Have a written contingency plan in case of incapacity or death. Work with an estate-planning professional to capture what’s appropriate for you and your family situation.
– Choose your professional team wisely. These are the professionals you trust for expert advice, such as your banker or CPA.
– Always revisit your plan. An annual review is wise. Remember that financial planning is never completed. Circumstances change and your plan should be flexible.
THE HOT SHEET
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.
– Cushman & Wakefield Commercial Advisors founder and chairman Larry Jensen was named by Gov. Bill Lee to serve a five-year term on the Tennessee State Board of Education representing the 8th Congressional District.
– Obsidian PR promoted Christina Babu to senior account manager.
– ArtsMemphis and Renasant Bank presented the 2019 Emmett O’Ryan Award for Artistic Inspiration to Memphis artist Nancy Cheairs.
– Allen & Hoshall hired Aaron Schwartz as an associate within the firm’s architecture division.
– Forbes named Baker Donelson one of “America’s Top Trusted Corporate Law Firms.”
– Eraina Schauss, director and founder of the Brain Center at the U of M, and Khyobeni Mozhui, associate professor at UTHSC, received the 2019 Cornet Award for studies on brain development in adolescents.
– Kelsey Johnson (pictured) joined Sister Supply as executive director.
– Dr. Hassan Aziz, a professor at UTHSC, received the American Society for Clinical Pathology 2019 Lifetime Achievement Award.
– JPMorgan committed $3 million to four organizations from the Memphis Community Development Financial Institution Network: United Housing, River City Capital Investment, Communities Unlimited, and Hope Credit Union.
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 Tommy Blaylock:
Plant manager, Memphis Cellulose LLC, Georgia-Pacific (GP) Cellulose operations in Memphis. B.S., Chemical Engineering, University of Alabama. Memphis plant has been a part of the local business community for 100 years. Pulp used in specialized applications including LED displays, technical papers, paints, currency papers, filtration, and other products.
“This is a way to have it for a couple of days. It’s not a rental. It’s a demo. You get to see if it fits up and down your apartment stairs, you need to make sure you’ve got a safe place to keep it, that you have a route dialed in. We understand that buying an e-bike is a significant investment.”
– Clark Butcher, owner of Victory Bicycle Studio, on the shop’s e-bike demo program. Read more from the Memphis Flyer.