Category: Business

More on the Cheesecake Factory and Memphis

Shawn Massey, partner with The Shopping Center Group LLC, which previously worked to bring The Cheesecake Factory to the Ridgeway Trace development at Poplar Avenue and Interstate 240, said the restaurant chain’s location inside Wolfchase Galleria makes perfect  sense.

“Wolfchase is the strongest regional trade area in the Memphis MSA,” Massey said.  “This is evident by the fact that Ikea recently chose the area for its first Tennessee store.”

“Cheesecake Factory has traditionally been a part of many malls and with Simon being the largest mall owner in the world the relationship between the two companies is quite strong,” said Massey.

“Cheesecake Factory knows the mall is successful in attracting visitors from the greater MSA and beyond,” he said.  “A store in East Memphis or Germantown may not be as far reaching.  That is open for debate. ”

Cheesecake Factory is a high performing retailer and would be considered a catalyst-type retailer that attracts people from a greater distance than the typical restaurant.  It will appeal to out of Towner’s in the city as well as draw locals from 20- 50 miles or greater, Massey said.

“I think the location was a safe location,” Massey said.

“I have told many restaurants and retailers that Wolfchase area is a guarantee success and potentially a home run location,” he said.  “There is no pioneering going on in the Wolfchase area and it is a consistent top performer for many restaurants and retailers.”

People who shop at malls are loyal to chain type stores and restaurants, Massey said, and  they understand what they are getting and seek out these chain restaurants and retailers.

“Personally, I would like to have seen it in East Memphis where I  trade on a more frequent basis, but I am not their core customer,” Massey said.   “I think the Wolfchase location will be very successful and continue the success or Northeast Shelby County.”

It’s official – the Commercial Appeal has a new owner

It’s now official – the Commercial Appeal has a new owner, based in Wisconsin.

As we and others have reported for months, the CA’s longtime owner – the E.W. Scripps Co. – has decided to spin off all its newspaper properties, combining them with Milwaukee Journal Sentinel’s owner Journal Communications to form a new public company, Journal Media Group.

Shareholders of both companies today approved that transaction, a related piece of which includes Scripps and Journal also merging their broadcast and digital properties, separate from the newspaper company. Those transactions are expected to close early in the second quarter.

The new newspaper company will have about 3,600 employees, operate in 14 markets and be headquartered in Milwaukee.

Scripps shareholders didn’t have to reach too much to vote “yes” on the deal. The company is giving them a $60 million special dividend. The newspaper division has also been an albatross on Scripps’s neck for some time now.

In the fourth quarter, Scripps’ newspaper unit saw its profit tumble to almost half of what it was a year earlier. Things were worse in the third quarter, when the division reported a profit margin of less than 1 percent.

Memphis International Airport Operations Return to Normal

Operations at Memphis International Airport have largely returned to normal, although crews will have some minor clean-up work today as the snow and ice that turned the Memphis area into a winter wonderland on Thursday continue to melt.

As of 9:30 this morning only six flights at Memphis International were cancelled and four flights were delayed, according to flight tracking firm FlightAware. FlightAware said airborne aircraft are experiencing average delays of 39 minutes at Memphis International.

Friday conditions at Memphis International were a vast improvement over Thursday, when 35 flights had been cancelled by midday.

Airport officials said flyers should check with their airlines for flight information.

 

 

Memphis Airport Dealing With Snow, Cancellations

Around 35 flights originating at Memphis International Airport have been cancelled, according to FlightAware, a company that tracks flight operations data.
By 11 a.m. flights to Chicago, Orlando, Houston, Charlotte and Denver had been cancelled. FlightAware was showing cancellations to Washington, D.C., Dallas/Fort worth, Houston, Newark and Charlotte after 11 a.m. Passengers should check with their respective airlines frequently today, as airlines will have the most updated scheduling information.
Just after 7 this morning, traffic at Memphis International was “limited” as airlines chose to wait the winter storm out or were unable to arrive from other cities with weather-related woes.
Memphis-Shelby County Airport Authority crews worked overnight to keep runways open but flights were still cancelled as of 7 a.m., when large swaths of the Memphis area were still receiving snow.
Many airlines did not send flights Wednesday night as the storm bore down on the area. Those flights would have been first to leave Memphis International this morning, but airlines did not want the planes to accumulate ice overnight because de-icing in these conditions can be difficult.

“While our job is to keep the runways clear, that’s only one piece of the puzzle,” said Airport Authority spokesman Glen Thomas. “You also have to take into consideration the conditions in the air and also the weather conditions in the other city. Our crews continue to work diligently to keep operations up and running.”

On Twitter, the airport posted a picture of a FedEx plane taking off in the snow with the hash tag “dedicated.”

Speaking of FedEx, I bet the FedEx Express Global Operations Control Center, or GOC as most employees refer to it, was buzzing with activity last night and today.

Operating 24 hours a day, seven days a week, 365 days a year, the GOC is the nerve center for FedEx Express’ global supply chain system, responsible for everything from monitoring weather conditions around the world to how much time pilots have spent in the air and what flight crews were served for lunch.

This place was fascinating. It has a massive video wall featuring 36 40-inch LED screens displaying real-time information on global weather patterns and the locations of hundreds of FedEx Express jets.

Check out this story I wrote on the GOC last year.

 

Wilson Air Expanding at Memphis International

Wilson Air Center is spreading its wings at Memphis International Airport.

Wilson Air, a Kemmons Wilson Company, has signed a 10-year lease for the former Pinnacle Airlines hangar at Memphis International, expanding its jet footprint by 30,500 square feet of prime hangar space.

The new lease will allow Wilson Air Center to expand its corporate aircraft storage capacity and sublease to others looking for additional space. The storage and office space could be attractive to a corporate flight department that may have multiple aircraft, maintenance crew and office support, said David J. Ivey, vice president of Wilson Air Center.

“During the last 12-18 months, we have seen a significant increase in companies in and around Memphis that own their own aircraft,” said Ivey in a statement.

The hangar is adjacent to Wilson Air’s main campus at Memphis International Airport and the expansion brings the company’s 25-acre campus to over 110,000 square feet of heated hangar and 50,000 square feet of shop and office support.

Dansette

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