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Charles McVean, Entrepreneur and Philanthropist, Dies at 78

When the news broke Sunday of the death of Charles McVean, he was being widely remembered as someone who was a great achiever – not only as an entrepreneur but as a devoted philanthropist.

McVean, who was 78, had been ailing for some time. But he continued his active interest in his community work, which, among other things, included the Peer Power student-to-student tutoring program, and the creation of the Big River Crossing, the country’s longest active rail/bicycle/pedestrian bridge.

He was a member of the Society of Entrepreneurs, selected for his success in running McVean Trading & Investments, LLC, and last year was honored with the Master Entrepreneur designation by the society.

In a story in Memphis magazine announcing the award, he was described as being observant of opportunities, whether in business or community, and going after them with a passion.

The story said: “Early in his commodities work, he noticed something about the cattle futures market: ‘I said, we just got a bunch of gunslingers and cowboys trading these cattle. I think I can apply some of the more advanced statistical techniques learned [from] the grain trade and beat these guys.’ And he did.”

He received an Innovation Award from Inside Memphis Business magazine twice, first in 2013 for Peer Power, and again in 2017 with Charlie Newman for the Big River Crossing.

Memphis Congressman Steve Cohen issued a statement that said, “Charlie McVean had a brilliant, creative, and innovative mind. He used it for Memphis in the areas of public education and amenities. … We need more Charlie McVeans who give back to make us better. His was a unique, valuable, important life.” 

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Editorial Opinion

Memphis’ Big River Crossing is a Game-Changer

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As is well known, the city of Memphis sprawls a good bit. In fact, we are used to hearing politicians contend that, area-wise, Memphis is larger than Chicago, although that claim has an apocryphal ring to anyone who has driven through the Windy City from north to south.

It is undeniable, though, that over the weekend an event occurred on the downtown side of Memphis that will both magnify its size and extend its borders enormously in the eyes of the outside world.

This was the event known as the Big River Crossing, a commemoration that occurred in tandem with the completion of the Main Street to Main Street project that now links downtown Memphis with downtown West Memphis — and does so via an innovative pedestrian/bicycle pathway extending all the way across a refurbished Harahan Bridge, heretofore used only by trains. At night, moreover, the bridge has the capacity to be visually spectacular, thanks to a lighting system that can shine in “architectural white” or, as it did on Saturday and Sunday nights, in dazzling rainbow colors.

This new addition to the city’s landscape is no serendipity. It is the result of years of visionary thinking and liberally applied elbow grease on the part of several local pioneers, who, in tandem with counterparts across the river in Arkansas, worked together to accomplish what, at first blush, had seemed a crazy idea, even to some of its most avid backers.

The father of this project is the distinguished trader/investor Charlie McVean, but he had help in designing it, funding it, and executing it from a host of others — notably the late Jim Young of Union Pacific Railroad in Little Rock, who overcame his industry’s bias against shared rail/pedestrian structures, and 9th District Congressman Steve Cohen, who went to bat for the project in Washington and ended up making it possible through the acquisition of a $15 million TIGER (Transportation Investment Generating Economic Recovery) grant that completed the necessary funding package.

The TIGER grant not only significantly underwrote the project (technically known as the Main Street to Main Street Multi-Modal Connector Project) but also made it possible for both of the bookend cities, Memphis and West Memphis, to undertake significant rehabilitation of their downtown cores. It is one of those rare circumstances from which environmentalists and urban-growth enthusiasts can both take heart.

And McVean and his collaborators aren’t resting on their laurels. They imagine further work on the adjoining Mississippi River levees that would result in a recreational artery extending all the way to New Orleans and to the creation of what would be, in McVean’s words, the world’s largest land park.

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Opinion

Harahan Bridge Bike Route Gets $15 million Grant

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  • Downtown Memphis Commission

Biggest story since the Resurrection? Not quite, but you might have thought so by the reaction to the news out of Washington today about the Harahan Bridge Project.

Congressman Steve Cohen announced that Memphis has received a Transportation Investment Generating Economic Recovery (TIGER) IV Discretionary Grant worth $14,939,000 for the Main Street to Main Street Multi-Modal Connector Project — “the region’s most ambitious and impressive bicycle/pedestrian project to date.”

Also one of the longest project titles ever. The two Main Streets are in downtown Memphis and West Memphis, Arkansas.

“I’m elated” said Cohen. “These new federal funds will help improve livability in downtown Memphis, will increase tourism, will drive economic development and create jobs, make our city more attractive to young people, and enable people to bike over the historic, scenic Mississippi River.”

Memphis Mayor A C Wharton said the bike project is “an absolutely critical asset in the continuing revitalization of the core of our city connecting the south part of downtown to the north and Shelby farms to West Memphis.”

Paul Morris, head of the Downtown Memphis Commission, said “This is huge for Memphis.”

Memphis philanthropist and businessman Charles McVean, who was one of the first proponents of the project, said this grant is “iconic” and “a game-changer” and “one of the biggest things that has ever happened to Memphis.” McVean has invested in a hybrid bike called the Aerobic Cruiser that is designed for long rides and people seeking an assist to pedal power.

The project also will make repairs and improvements to the Main Street Trolley and the Central Station rail (Amtrak) and bus terminal. Eventually it will connect to Shelby Farms by bike.

“I am beyond excited,” said Greg Maxted, executive director of the Harahan Bridge Project. “It’s gonna be fun.”

No one was more excited, however, than Abbott Widdecombe, owner of Tom Sawyer’s R.V. Park on the Mississippi River in West Memphis, and the only person I know who has residences in both Memphis and West Memphis.

“This could change the entire dynamic of the river and eastern Arkansas. It will be a must-see, must-do at least one time attraction for everyone who lives in this area,” he predicted.

Widdecombe’s R.V. park was flooded last year so this is welcome news. He was planning on putting in a restaurant anyway, and, depending on whether the bike trail can be extended to the levee system, he could benefit directly from the Harahan Project.

His grandfather, George T. Kendal, was a timber cruiser for a paper company and he used to travel across the river on the planks of the Harahan on horseback. He bought two sections of land in Crittenden County and filed for the first subdivision in West Memphis.

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News News Feature

Pay For Grades

It was like old times, in more ways than one, at an assembly at East High School this week. On stage, U.S. senator Lamar Alexander sat next to former Grahamwood Elementary School principal Margaret Taylor, who sat next to Mayor Willie Herenton.

Alexander gave a heartfelt speech about his long friendships with West Tennesseans Herenton, Taylor, and the late Alex Haley, author of Roots, which became a television epic before today’s students were born. Taylor unabashedly hugged Herenton, whose support for optional schools and Grahamwood in particular was vital when he was superintendent 25 years ago. And Herenton, who was greeted with a standing ovation, talked inspiringly about the importance of education to the 900-plus students in the audience.

The man of the hour, however, was another Memphian who’s been around a while — businessman Charles McVean, a 1961 East High graduate and benefactor of the Greater East High Foundation to the tune of approximately $2 million. A few years ago, McVean had an epiphany: He could give $1 million to his college alma mater, Vanderbilt University, which has an endowment worth over $1 billion. Or he could give it to East to pay for extra support teachers, facility improvements, and direct payments to students who make good grades and tutor other students.

Pay-for-performance was the most interesting new wrinkle. The idea was to pay students up to $10 an hour for tutoring and as much money as they could make working at McDonald’s for working harder on their homework instead.

On a modest scale, it appears to be working. A total of 110 students are involved as either tutors or “scholars” who make a commitment to good grades and good behavior in exchange for some of McVean’s cash. A similar program, with a different benefactor, Dr. Jerre Freeman, is being implemented at Whitehaven High School. And on Monday The New York Times reported that 25 public high schools in New York City are paying up to $1,000 to students who do well on Advanced Placement exams. Philanthropists are funding the program.

Alexander, a Vanderbilt graduate who was governor of Tennessee and U.S. Secretary of Education before winning a Senate seat in 2002, likes McVean’s merit program and doesn’t mind seeing his gifts staying in Memphis instead of going to Vandy.

“Charles can see every day real results from the way he spends his money,” said Alexander, a proponent of merit pay increases for teachers when he was governor. “Our biggest challenge in American education is kindergarten through 12th grade.”

Cash-for-performance, so long as it isn’t paid for by government, is “a terrific idea,” said Alexander. “I’m for what works.”

Alexander met Taylor during his first term as governor. He wanted to visit a Memphis public school, and Grahamwood was so popular at the time that parents, most of them white, camped out at the Board of Education offices to get spots in the optional program. Taylor said Herenton suggested Grahamwood even though “it was controversial” because every other school coveted such attention. Taylor, who is in her 80s, works as a tutor and support teacher in algebra classes at East five days a week.

In the movies, there would be hundreds of East students and tutors earning college scholarships each year, but reality is not like that. East is as racially segregated as it was 40 years ago, but now there are almost no white students. There are actually slightly fewer tutors this year than last year due to graduation losses and the commitment that is required. “It takes a while to train them,” said Bill Sehnert, a McVean hire who works full-time at East. And tutors are now starting to work on ACT preparation and in classes besides algebra, in effect plugging one leak only to find another one somewhere else.

“It doesn’t do any good to pass algebra and flunk English,” Sehnert said.

McVean, a commodities trader who has seen his personal fortunes rise and fall many times, is undeterred. The Greater East High Foundation got off to a rough start when it came out of the gate a few years ago and basically had to start all over. A less determined person might seize upon the program’s partial successes, claim a victory, accept some applause, and bow out. Instead, McVean wants to focus attention on the large number of less-motivated students who aren’t buying into the program and being served.

“The secret to success in any business,” he said, “is to find a good idea and leverage it.”