INNOVATION AWARDS

Thursday morning was a celebration of four of the top geniuses in Memphis. Inside Memphis Business held its sixth annual Innovation Awards breakfast at the University of Memphis Holiday Inn honoring Van Turner of Memphis Greenspace, Gebre Waddell of Sound Credit, Michael Dyer, PhD, and Alberto Pappo, MD with the St. Jude Children’s Research Hospital Childhood Solid Tumor Network, and Brian Booker with One Step Initiative & Global Pathways to Success.

IMB is committed to putting the spotlight on the best in local innovation over the past year with an awards breakfast and a launch event for our October/November issue. This year had a diversity of categories, from medicine to education to civics to the arts. The event is co-hosted by the University of Memphis Fogelman College of Business and Economics. Sponsors are Orion Federal Credit Union, Novatech, and Travelennium.

The awardees spoke to the attendees of their achievements, their challenges, and the teams they worked with to make their dreams possible.

Read about the winners and get caught up on past winners in the current issue of IMB. You can also see it online here.

WHAT’S GOING ON

– Last week’s killing of Phil Trenary, president and CEO of the Greater Memphis Chamber, was both a senseless act of violence and a blow to the city. Trenary was a tireless booster of Memphis and devoted himself to finding ways to make it better. In June, 2017, Inside Memphis Business ran an interview with him that showed his dedication to the city. Read it here.

– In its fourth annual study, financial technology company SmartAsset shows where buyers can expect the lowest relative costs by county in Tennessee. The study measures closing costs as a percentage of median home value.

No. 1 in the state is Williamson County with closing cost index of 87.40, based on average closing costs of $4,090, median home value of $368,100 and with closing costs being 1.4 percent of home value.

The only West Tennessee county in the top 10 is Fayette at No. 5, with closing cost index of 77.03, based on average closing costs of $3,564, median home value of $183,000 and with closing costs being 1.9 percent of home value.

Shelby County comes in at No. 26 based on average closing costs of $3,180, median home value of $132,200 and with closing costs being 2.4 percent of home value.

The results of the SmartAsset study can be found here

– A new study released by Merrill Lynch has found that parents are spending $500 billion annually on their adult children and that 72 percent of parents wish they had someone to educate their children about investing.

– Speaking of spending money on children (of any age), Urban Air Adventure Park is opening a Collierville location at 10337 East Shelby Drive Saturday at 10 a.m. Open seven days a week at the Carriage Crossing Market Place, Urban Air has more than 10 attractions from a Sky Rider, indoor ropes course, slam dunk zone, climbing walls, a virtual reality game station, bowling alley, bumper cars, and a full-service café and parents’ lounge. Hours are Mondays through Thursdays from 3-8 p.m., Fridays from 3-11 p.m., Saturdays from 10 a.m.-11 p.m., and Sundays from 12-8 p.m.

NEWS FROM OTHER SOURCES

– Michelle Corbet at the Daily Memphian writes about a group of businessmen wanting to turn the vacant 64 South Main building into a lifestyle hub with areas for office space, retain, food, and fitness. Read her story here.

– The University of Tennessee Health Science Center has launched a Diversity Business Enterprise Initiative to assist and encourage more small businesses and businesses owned by minorities, women, veterans, and those with disabilities to pursue business opportunities with the university. Read the story in the Tri-State Defender here.

– ServiceMaster has spun off its 2,000-employee American Home Shield business that is now part of the newly created parent company Frontdoor IncRead the story in The Commercial Appeal here.

– The Memphis Business Journal reports on two recent departures in the local business world.

Sean Healy, who recently assumed the role of regional chief operating officer for FedEx Express Europe, is no longer with the Memphis-based shipping and logistics company. Meagan Nichols has the story here.

And less than a year after naming Kelly Kambs to lead its commercial division, Terminix says she has departed and Deni Naumann is assuming the role of interim president. Nichols report is here.

THE HOT SHEET

Inside Memphis Business magazine has long been running the Hot Sheet feature of promotions and achievements in local business. We’re now running it in our weekly TipSheet email blast to keep the info more current.

Thomas R. Dyer

– Thomas R. Dyer, a member of Wyatt, Tarrant & Combs’ Corporate & Securities Service Team, has been honored by Tennessee’s Economic Development Council as the state’s leading volunteer advocate of economic development. Dyer received the 2018 Jim Spradley Volunteer of the Year Award for his 20-year effort to further economic development in Memphis and Shelby County. As vice chairman of the Economic Development Growth Engine (EDGE) board, Dyer supports local workforce initiatives and led development of a sustainable pipeline of skilled talent for the medical device industry in Memphis.

He was also honored for helping secure state funding for a medical device industrial facility in northeast Shelby County, advocating for a payment-in-lieu-of-taxes (PILOT) to support a $20 million expansion of a Thomas & Betts facility in Memphis; and promoting the approval of a $20 million expansion project for JNJ Logistics, which created 222 new jobs in the area.

– Boston Mutual Life Insurance expanded its Memphis senior sales team with the addition of Marie Lackey as senior regional sales director.

– Charles McGhee, an attorney as Shea Moskovitz & McGhee, was named to the 25th edition of The Best Lawyers in America.

– Stites & Harbison, PLLC, moved its Memphis office to the PennMarc Center. The firm was also recognized as one of “The Best Economic Development Law Firms in the South” in Southern Business & Development magazine.

– Pinnacle Financial Partners has become the sixth-largest bank in in Memphis in terms of deposits, according to data from the Federal Deposit Insurance Corporation.

– Logan Rogers joined Flintco as an estimator in the pre-construction department.

John Phillips V

POWER PLAYER

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 John Phillips V, founding member and chief investment officer, Red Door Wealth Management. Graduate, University of Virginia. Company provides comprehensive asset management for personal advising, retirement plans, family office and business owners as well as maintaining a strategic relationship with accounting firm Cannon Wright Blount, PLLC. Named to “Top 40 Under 40,” Memphis Business Journal. Certified Financial Planner, Chartered Financial Analyst. Member, Thorn Society (MUS). Board member, Presbyterian Day School Alumni Association, MPACT Memphis, Nexus Leadership Memphis Athletic Ministries, Osiris.

For the complete list of Inside Memphis Business Power Players, go here.

CEO OF THE YEAR

Every year, Inside Memphis Business magazine honors four CEOs who have proven to be exemplary in their fields, leading their companies to success on local, regional, national, and international stages.

Nominations for the 2019 CEO of the Year awards are open. Memphis is graced with tremendously talented, inspiring executives in charge of their companies and organizations, and we want to hear from you about the best in the business. Email your nomination to [email protected]com and include the CEO’s resume and a description of why he or she should get the award: vision, achievements, business philosophy, employee relations, management style, special qualities.

We give out four awards in categories according to the number of employees in the companies: 1-50, 50-200, 200-1,000, and 1,000 and up, so include that information as well. The deadline for CEO of the Year is November 16, 2018. When the nominations are in, an impartial panel will consider the nominees and pick one for each category. Each will be notified and interviewed for the February/March 2019 issue of IMB — and each will appear on the cover of the magazine. A breakfast in late January will honor the four CEOs.