I’m on an e-mail list that gives me a daily roundup of business stories from the folks at the widely-read online news site Politico. This was near the top of the stack this morning, referencing Thursday’s weird dip in the stock market:
“Good Friday morning. There is a chance yesterday’s freak intra-day crash may be wiped from history, at least in part, following trade cancellations. Kind of like many of John Calipari’s NCAA wins and Final Four appearances.”
PricewaterhouseCoopers will release a report later this year that compares the market environment for the medical device industry in nine nations.
The study will consider 100 metrics, including research and development expenditures, the regulatory environment and demographics.
Nations in the study include Brazil, China, Brazil, Germany, Israel, India, Japan, the United Kingdom and the United States.
The Advanced Medical Technology Association (AdvaMed) supports the initiative. To learn more, visit www.dotmed.com/news/story/12574/
Congressman Steve Cohen has latched onto the aerotropolis concept and is working to get his Washington colleagues on board as well.
The democrat today introduced legislation – H.R. 5236, the Aerotropolis Act of 2010 – to fund the development of transportation assets in Memphis and elsewhere under the aerotropolis banner.
“The need to ship and receive goods more quickly and over longer distances is increasing by the day,” Cohen said in a release. “Establishing aerotropolis transportation systems in Memphis and across the country will spur economic growth, create jobs, improve our shipping transportation network, and enable us to compete more effectively in a 21st century global economy.”
The concept has been around for a few years. John Kasarda, the North Carolina professor who coined the phrase, called Memphis the nation’s only developed aerotropolis.
The initiative got its first official public funding last fall when the City Council approved $1.6 million for the beautification of Plough Boulevard.
For more about the aerotropolis concept, check out this article in The Memphis News.
Memphis has been at the center of several big business stories over the past decade in a way that probably escaped major attention locally.
In preparation for 2006’s merger of BellSouth and AT&T, the CEOs of both companies boarded their company jets and flew to Memphis. CEOs Edward Whitacre (AT&T) and Duane Ackerman (Bellsouth) worked out the terms of the multibillion-dollar deal on notepads and shook hands in a Memphis airport hanger, according to BusinessWeek.
In the midst of Bear Stearns’ collapse in 2007, the Wall Street Journal zeroed in on the crisis management style and other personal qualities of the firm’s chief executive officer Jimmy Cayne. A prominently placed story that ran on page A1 of the Wall Street Journal in November 2007 included one revelation that garnered widespread attention in the business press at the time – that Cayne, after playing bridge in 2004 at a Doubletree hotel in Memphis, later invited “a fellow player and a woman to smoke pot with him,” according to the WSJ.
Cayne told the paper no such incident occurred.
More recently, as a blog post below notes, Bloomberg reported that part of the United-Continental airlines merger was negotiated at the Radisson hotel next to Memphis International Airport.
Citi has announced the launch of the Communities at Work Fund, a $200 million program to help fuel small business lending in low-income U.S. communities.
For more information about the fund, visit www.communitiesatworkfund.com.