The cover story in the current issue of The Memphis News is all about cotton.
One of the major recent developments in the industry, which has historically been a big one in Memphis, is that Memphis-based world cotton titan Dunavant Enterprises has gotten of the business by selling its cotton operation to Allenberg Cotton Co.
Here’s an interesting historical tidbit:
Patrick Moynihan, the brother of Bank of America’s CEO, is currently a missionary in Haiti. Before that, in the 1990s, he worked in Memphis as a trader for Allenberg.
He told The Daily News he had a spiritual awakening of sorts driving one day on Sam Cooper Boulevard.
One thing led to another, and he traded a life of ease in Memphis for mission work in Haiti.