Bank Closures

Trust One Bank, a division of Georgia-based Synovus Financial Corp., is closing two Memphis-area bank branches as part of a previously announced round of belt-tightening.

Memphis-based Trust One is closing the branches at 7540 North St. in Germantown and at 1010 N. Germantown Parkway in Cordova. The branches will close May 6.

Synovus has been looking to cut costs around the edges of the company in the hope of generating an estimated $100 million in annual expense savings by the end of 2012.

Most of those savings – about $75 million – are planned to come in 2011.

The savings will come primarily in the form of eliminating roughly 850 positions.

Synovus shaved more than 300 positions during 2010. The total reduction over the 18-month period that ends Dec. 31 will be about 1,150 positions.

Live at 9 Leaving Peabody Place

Live at 9, WREG’s morning talk show hosted by Alex Coleman and MaryBeth Conley, is leaving Peabody Place and moving back to the station’s main facility.

WREG general manager Ron Walter said the show had broadcast from Peabody Place for about 9 years.

“Our contract was up,” he said. “And we could not broadcast the show in HD from there without some expensive solution, and we already had the HD solution at our main studio. And we want all our programs in HD that we broadcast live.”

Airport Cities Conference – Graceland

Between the end of second day workshops and the beginning of third day workshops at the Airport Cities World Conference, four busloads – about 240 – of those at the conference went to Graceland Tuesday evening for a tour of the mansion and some barbecue at Graceland Plaza.

The airport executives, consultants and business leaders in town since Monday are very intense about their networking. Walk through a room where they are mingling and you will hear lots of talk about runways, infrastructure, millions of dollars for this and billions for that and always what another airport is doing somewhere else.

“But Beijing will surpass us in five years,” one visitor said non chalantly to another as Elvis’s 1972 live television concert in Hawaii played on television screens around the banquet room in the plaza.

The intensity is also a function of the language barrier that exists in any gathering anywhere that includes people from 40 countries and all seven continents.

It is a reminder that the ease with which plans and Power Point presentations point out how to get from here to there on the other side of the world, there is still work to be done on what happens once you get there.

I kept wondering where that device is that’s now advertised all over television in which a young man walks up to an elderly villager somewhere in Europe, says something in English into a digital device and then plays it back for the villager in his native tongue. I needed one of those this week.

To its credit, Graceland experienced no language barrier. The airport conference visitors were told at the outset that there digitally recorded tour of Graceland came in seven languages, all accessible through the same player. Granted they were told that in English.

The networking continued on the bus ride to Whitehaven until the airport executives caught site of the Lisa Marie, one of Elvis’s jets, which understandly caught their attention. Most had a sense for just how rare it was for an entertainer to own a jet in the mid 1970s.

Out of sight of the jets, back to networking – some right up to the time their photo was snapped in front of the Graceland backdrop just a few steps from the buses up to the house on the hill.

There were plenty of Memphians on the tour of the mansion that began the evening in Whitehaven, including airport authority executive director Larry Cox.

I tried to explain how uncharacteristic this is for Memphians to one of the delegates on the bus ride back Downtown. Many of us don’t go to Graceland unless it is to accompany visitors to Graceland. So Graceland is just as new an experience for many Memphians as it is for our visitors. But not necessarily the same.

It’s quite different to visit a house essentially frozen in the early to mid 1970s when it is in your hometown – and you knew the city intimately then and now.

There has been a lot of discussion at this three day gathering about technology.

Joe Waller of HMSHost said this morning that JFK International in New York is about to roll about an iPhone app that will allow passengers to order food in advance from restaurants in the terminal and have that food delivered to them at the gate they are at.

FedEx founder Fred Smith said Tuesday that air cargo is about delivering high tech high value goods like the parts that will go in those cooking appliances Electrolux will make starting next year at Pidgeon Industrial Park. Those iPhones on which you will probably be ordering food to go at your gate are also the cargo FedEx and others are after.

So, it was interesting to walk through a house where time stopped just about the time that television special aired with the wondrous tag line “via satellite” and just as Smith and what was then Federal Express were setting up shop off Democrat Road not too far from Graceland.

There were the three television sets lined up side by side to watch all three networks – no cable in Memphis then, even for the King. The wonder of Elvis recording toward the end of his life in The Jungle Room doesn’t seem so wondrous in the post ProTools age until you consider the logistics of trying to fit a band with 70s era sound and recording equipment into the very small jungle space.

Aside from the technological considerations, you wonder what the view of the owner was in those last years in the surroundings he had created in happier times. We recognize the fashions of the day, the suburban design in a 1930s structure, the feel of home, but everywhere is the sense it wasn’t an ordinary home and perhaps in the end it didn’t feel like home.

It was a world of his own creation, the same mind that created some of the very real problems he faced. That is the balance all of us face no matter the technology available to us.

The racquetball court at Graceland is now a place where his gold records and other awards are displayed along with a few 70s jumpsuits. Just before you walk into what used to be the court, there is a small very ordinary looking stand up piano where Elvis sang for the last time the night before he died.

It is quite possibly the easiest item to overlook on the entire tour. But you could tell when the visitors reached that part of the audio tour. They always stopped to look and think about that moment, what it might have sounded like and what it might have looked like on that hot summer night long ago.

Across Elvis Presley Boulevard, the networking slowed a bit with the introduction of barbecue.

In an earlier post we mentioned that the ban on “Mustang Sally” cover tunes by live bands Downtown had been lifted for the convention at the beginning of the week.

By day three, the ban on Elvis impersonators or anyone trying to wear a jumpsuit at Graceland remained in place. No fake Elvis welcomes for the airports crowd.

Memphis Mayor A C Wharton Jr. and several other local leaders arrived after the tours and fresh from a meeting elsewhere in the city on EDGE, the new economic development engine still forming.

Around the room, 1972 Elvis was making everyone doubt that Steamroller Blues was ever a James Taylor song.

Eventually, after the Elvis Aloha concert had played through for the second time and all of the scarves of 39 years ago had been given out again, the DVD returned to the opening menu with no one clicking to begin the concert for a third time. Over and over, Elvis’s entrance to drum bursts and horn blasts played as the crowd from the 70s reacted.

Elvis rocked and so did his band – then and now.

Honing our EDGE

Shelby County Mayor Mark Luttrell told a gathering of area business leaders Tuesday night at the office of Glankler Brown PLLC that he hopes the new joint city-county economic development program gets rolling by this summer.

If government leaders keep to that schedule in building the new entity they’re calling the EDGE (which stands for Economic Development Growth Engine, but this thing is also supposed to give us an “edge” in business recruitment and retention, get it?) it would be a major step forward for the city and county.

Both of which have borne much criticism in recent years that they’re not business-friendly enough. That taxes are too high. There are too many government entities to appear before if I as a business owner want to pursue a vision. And on. And on.

A former Memphis chamber official said at Tuesday night’s event that a lot of the corporate relocations Memphis has recently landed took some hard work that sometimes went down to the wire, but that something like the EDGE would make us more competitive.

The presence of the new economic development entity – with a staff and president that can run point between companies and all the myriad government agencies and officials in the city and county – would presumably do the heavy lifting in the future on projects like the Mitsubishi Electric Power Products Inc. (MEPPI) development of a new electric power transformer factory in the city.

As detailed in this article from the March issue of Site Selection Magazine, Memphis had to overcome a big hurdle to MEPPI completing its plant in Memphis – specifically, it was the bad taste in MEPPI’s mouth left by an early 2010 Forbes article slamming Memphis.

I wrote an article for The Daily News last month detailing the great lengths to which the Greater Memphis Chamber went to push back against the Forbes article – at MEPPI’s request.

Chamber senior vice president Mark Herbison told me the project consultant called the chamber and said unless the chamber could refute the article in a specific and detailed way, it was probably the end of the line.

So the chamber prepared a splashy booklet refuting the Forbes article point by point.

“In five days, they provided a document that I consider one of the best-focused project impact pieces of information that I’ve gotten from an economic development agency,” Mark Sweeney, principal at site selection consulting firm McCallum Sweeney, told Site Selection Magazine.

Just imagine what kind of strides the city could make if there was another group of people enlisted in this effort who do nothing else but that full time.

Airport Cities Conference – Day Two

Day two of the Airport Cities World Conference & Exhibition.

Tuesday is the main event with the two most powerful corporate leaders in the city’s air economy sharing the same stage this morning – FedEx founder Fred Smith and Delta Air Lines CEO Richard Anderson. And tonight, a gala at Graceland.

Our story on the comments by Smith and Anderson is already on the web site. Look for a more definitive version in Wednesday’s daily which goes on line at four this afternoon.

Some other notes from the gathering:

This is the 10th such gathering and the Memphis conference has the largest group of any of the gatherings.

Memphis Mayor A C Wharton Jr. joked that his initials stood for Airport Cities. “If you start the day off lying, you might as well start big,” he quipped.

Wharton spoke after an incendiary talk by Greg Principato, the president of the Airport Council International, in which Principato nearly stole the show from Smith and Anderson. The details of that are in the story that goes on line at four.

There were quite a few murmurs in the audience of around 700 in the Continental ballroom when he finished the speech targeting air lines for not doing more to support the financing of airport infrastructure.

Wharton broke the ice by beginning, “Well, Greg got up and scared the daylights out of you.”

He then ran through a familiar list of Memphis songs, reciting a few lines from Chuck Berry’s “Memphis” telling the delegates that they are in “Marie’s living room.”

Cong. Steve Cohen came up with another tune from the pantheon of Memphis hits – this one with an air travel theme – “The Letter” by The Box Tops. One small quibble. Cohen said Box Tops lead singer Alex Chilton wrote the song that begins “Give me a ticket for an aeroplane” – not airplane but aeroplane.

The tune was written by Wayne Carson Thompson and recorded at American studios at the corner of Danny Thomas Boulevard and Chelsea in North Memphis.

Cohen was eloquent on the aerotropolis topic, noting the saying that the road to economic development begins with a road. “Today, it’s a runway,” he added as he likened the aerotropolis concept to “the interstate system of the 21st century.”

Dansette

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