Economy Of Memphis, Tennessee
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Economy Of Memphis, Tennessee
Located on the Mississippi River, the metropolitan area of Memphis is one of the largest in the Southeastern United States, ranking 42nd in the United States according to the 2010 census. The city has historically been one of the largest shipping hubs in the Mid-South, dating back to the Civil War, when the port was one of the largest on the Mississippi River and served as a shipping hub for the Confederacy. As transportation methods developed, Memphis has continued to hold significance as a transportation hub. Now the city is home to the second largest cargo airport in the world, Memphis International Airport, and the world’s busiest domestic airport with 3.9 million metric tonnes. Memphis International Airport and Memphis have had huge significance in the railroad industry. The city has the 3rd largest rail center in the U.S. behind Chicago and St. Louis. It is also one of only four U.S. cities with five Class 1 railroads. Because Memphis has been such an important city for t ...
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Mississippi River
The Mississippi River is the second-longest river and chief river of the second-largest drainage system in North America, second only to the Hudson Bay drainage system. From its traditional source of Lake Itasca in northern Minnesota, it flows generally south for to the Mississippi River Delta in the Gulf of Mexico. With its many tributaries, the Mississippi's watershed drains all or parts of 32 U.S. states and two Canadian provinces between the Rocky and Appalachian mountains. The main stem is entirely within the United States; the total drainage basin is , of which only about one percent is in Canada. The Mississippi ranks as the thirteenth-largest river by discharge in the world. The river either borders or passes through the states of Minnesota, Wisconsin, Iowa, Illinois, Missouri, Kentucky, Tennessee, Arkansas, Mississippi, and Louisiana. Native Americans have lived along the Mississippi River and its tributaries for thousands of years. Most were hunter-ga ...
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Belz Enterprises
Belz Enterprises, Inc. is a major American-based developer of hotels, retail, and commercial properties, including shopping malls. Belz owns and operates the Peabody Hotel in Memphis. Previously they operated two other Peabody Hotels, one in Little Rock, and another in Orlando, however both of these hotels were sold in 2013 becoming a Hyatt and Mariott respectively. In past years, much of its operations have been centered on the development of new factory outlet-type malls and the conversion of some its older traditional properties into such. In recent years they have developed more traditional shopping centers including strip malls and Peabody Place in downtown Memphis, commercial office, and warehouses space. The firm is based in Memphis. Ronald A. Belz serves as Chief Operating Officer. History The company was founded in North Memphis North Memphis is one of the five defined districts of Memphis, Tennessee. It includes smaller neighborhoods such as Klondike, New Chicago, ...
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Reynolds Group Holdings
Reynolds Group Holdings is a New Zealand based packaging company with roots in the former Reynolds Metals Company, which was the second-largest aluminum company in the United States, and the third-largest in the world. Reynolds Metals was acquired by Alcoa in Reynolds Metals became known for the consumer product Reynolds Wrap foil, as well as for developing and promoting new uses for aluminum. Its RV ''Aluminaut'' submarine was operated by Reynolds Submarine Services Corporation. It was headquartered for most of its existence in Richmond, Virginia; the Modernist style Reynolds Metals Company International Headquarters was built there in 1958. History The Reynolds Metals Company was founded in 1919 as the U.S. Foil Company in Louisville, Kentucky, by Richard S. Reynolds Sr., nephew of tobacco king R. J. Reynolds. Initially, the new company supplied lead and tin foil wrappers to cigarette and candy companies. In 1924, U.S. Foil purchased the manufacturer of Eskimo Pies, whic ...
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United Technologies Corporation
United Technologies Corporation (UTC) was an American multinational conglomerate headquartered in Farmington, Connecticut. It researched, developed, and manufactured products in numerous areas, including aircraft engines, aerospace systems, HVAC, elevators and escalators, fire and security, building automation, and industrial products, among others. UTC was also a large military contractor, getting about 10% of its revenue from the U.S. government. Gregory J. Hayes was the CEO and chairman. In April 2020 UTC merged with the Raytheon Company to form Raytheon Technologies. History Pre-1970s 1970s and 1980s In 1974, Harry Gray left Litton Industries to become the CEO of United Aircraft.. He pursued a strategy of growth and diversification, changing the parent corporation's name to United Technologies Corporation (UTC) in 1975 to reflect the intent to diversify into numerous high tech fields beyond aerospace.. (The change became official on May 1, 1975.) The diversificat ...
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Carrier Corporation
Carrier Global Corporation is an American multinational heating, ventilation, and air conditioning (HVAC), refrigeration, and fire and security equipment corporation based in Palm Beach Gardens, Florida. Carrier was founded in 1915 as an independent company manufacturing and distributing HVAC systems, and has since expanded to include manufacturing commercial refrigeration and food service equipment, and fire and security technologies. As of 2020, it was an $18.6 billion company with over 53,000 employees serving customers in 160 countries on six continents. Carrier was acquired by United Technologies in 1979, but it was spun off as an independent company 41 years later in 2020, as was the Otis Elevator Company. History Willis Carrier is credited with inventing modern air conditioning in July 1902. In 1908, the Carrier Air Conditioner Company of America was created as a subsidiary of the Buffalo Forge Company, with Willis Carrier as its vice president. With the onset of World ...
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Cargill
Cargill, Incorporated, is a privately held American global food corporation based in Minnetonka, Minnesota, and incorporated in Wilmington, Delaware. Founded in 1865, it is the largest privately held corporation in the United States in terms of revenue. If it were a public company, it would rank, as of 2015, number 15 on the Fortune 500, behind McKesson and ahead of AT&T. Cargill has frequently been the subject of criticism related to the environment, human rights, finance, and other ethical considerations. Some of Cargill's major businesses are trading, purchasing and distributing grain and other agricultural commodities, such as palm oil; trading in energy, steel and transport; raising of livestock and production of feed; and producing food ingredients such as starch and glucose syrup, vegetable oils and fats for application in processed foods and industrial use. Cargill also has a large financial services arm, which manages financial risks in the commodity marke ...
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Louis Dreyfus Group
Louis Dreyfus Company B.V. (LDC), also called the Louis-Dreyfus Group, is a French merchant firm that is involved in agriculture, food processing, international shipping, and finance. The company owns and manages hedge funds, ocean vessels, develops and operates telecommunications infrastructures, and it is also involved in real estate development, management and ownership. Along with Archer Daniels Midland, Bunge, and Cargill, the Louis-Dreyfus Group is one of the four "ABCD" companies that dominate world agricultural commodity trading. The company makes up about 10% of the world's agricultural product trade flows, and it is the world's largest cotton and rice trader. It is also regarded by many as the second-largest player in the world's sugar market. LDC Metals expanded to become the world's third biggest trader of copper, zinc and lead concentrate, behind only Glencore and Trafigura. Louis Dreyfus Company has its head office in Rotterdam, Netherlands. The company's pare ...
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Streetwear
Streetwear is a style of casual clothing which became global in the 1990s. It grew from New York hip hop fashion and Californian surf culture to encompass elements of sportswear, punk, skateboarding and Japanese street fashion. Eventually haute couture became an influence. It commonly centers on "casual, comfortable pieces such as jeans, T-shirts, baseball caps, and sneakers", and exclusivity through intentional product scarcity. Enthusiasts follow particular brands and try to obtain limited edition releases. History Streetwear style is generally accepted to have been born out of the New York City hip-hop culture of the late 1970s and early 1980s, with elements of Los Angeles surf culture. Early streetwear in the 1970s and 1980s also took inspiration from the do-it-yourself aesthetic of punk, Japanese street fashion, new wave, heavy metal, and established legacy sportswear and workwear fashion brands such as Schott NYC, Dr. Martens, Kangol, Fila and Adidas. In the late ...
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City Gear
City Gear is an American company that operates over 130 stores in the central region of the US. City Gear was founded in 1978 under the name Shelmar Retail Partners LLC. It was created in and still operates out of Memphis, Tennessee. City Gear is owned by Hibbett Sports and its current CEO is Mike Longo. The store sells lifestyle clothing and footwear from brands such as: Nike, Jordan, Levi's, and Grindhouse. Acquisitions City Gear has been very active in the last several years in the M+A market. In 2011, they acquired the Deveroes chain of 14 stores with locations in Cincinnati, Indianapolis, Dayton, and Columbus. Within twelve months, City Gear acquired a 16 store chain with operations principally in Atlanta and a smaller 3 store chain with operations in Kansas City. Endorsements City Gear has several endorsement deals. Recently, they struck a deal with a summer basketball league called The Deveroes Summer League in Cincinnati. They also have endorsement deals with several ...
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American Residential Services
American Residential Services (ARS) is a United States network of plumbing, and home and commercial heating and air conditioning (HVAC) businesses, operating under the trade name ARS/Rescue Rooter. The trade name came from the acquisition and merging of ARS and Rescue Rooter by their then-parent company ServiceMaster. They have locations in 24 states. The company is based in Memphis, Tennessee. The ARS mascots are Dandy and his sidekick Pronto. History ARS was established in 1975. The name "Rescue Rooter" was trademarked in 1976 by the California-based Rescue Industries Inc. It was a family-owned West Coast plumbing and drain cleaning company. In 1996, ARS was founded to consolidate local and regional HVAC service companies. Shortly after, The Servicemaster Company, based in Downers Grove, Illinois, acquired both Rescue Rooter and ARS, in 1998 and 1999 respectively, and brought them together under the "ARS/Service Express" brand. The company eventually dropped the "Service Expre ...
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Varsity Brands
Varsity Brands, Inc. is an American apparel company owned by Bain Capital. It is primarily focused on academic apparel and memorabilia, with its operations split among three major subsidiaries, including Herff Jones—a manufacturer of products such as class rings, graduation caps and gowns, and yearbooks; Varsity Spirit—which produces apparel and competitions in cheerleading; and BSN Sports, a distributor of sports uniforms and equipment. History In 2011, Herff Jones merged with Varsity Brands. Its founder and CEO Jeff Webb became president and CEO of Herff Jones. Herff Jones acquired BSN Sports in 2013. In June 2014, it was announced that the company as a whole would operate under the Varsity Brands name in order to reflect a more integrated operation. The company was then sold to the private equity group Charlesbank Capital Partners. In 2018, it was sold to Bain Capital for around $2.5 billion. Adam Blumenfeld, who served as CEO of BSN Sports since 2007, was named CEO of ...
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Malco Theatres
Malco Theatres, Inc. is a movie theatre chain that has remained family owned and operated for over one hundred years. It has been led by four generations of the Lightman family. The company has 36 theatre locations with over 371 screens in six states (Arkansas, Kentucky, Louisiana, Mississippi, Missouri and Tennessee). Malco also operates three bowling centers and a family entertainment center in southern Louisiana and a family entertainment center in Oxford, Mississippi. Beginnings Malco Theatres' history began during World War I when Morris A. "M. A." Lightman, Sr., (known as M.A.) the son of Hungarian immigrant Joseph Lightman, left his hometown of Nashville, Tennessee, and went to Colbert County, Alabama, to work on the Wilson Dam project as an engineer. Although he held a degree in engineering from Vanderbilt University, he thought of himself more as a showman and entertainer. Lightman decided it was time to try something new one day while in Northwest Alabama, when he ...
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