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Greater Memphis Chamber Unveils Prosper Memphis 2030 Plan

The Greater Memphis Chamber is looking ahead, and it envisions a bright future. At its Mid-Year Chairman’s Forum Monday, the organization unveiled Prosper 2030, a strategic growth plan that aims to make the Memphis region more prosperous and inclusive.

The plan looks to leverage Memphis’ status as one of the largest minority-majority cities in the country to attract businesses that place an emphasis on diversity in their workforces. Specifically, Prosper 2030 will promote the city’s diversity and upskill its workforce to attract high-growth advanced industries like automotive or medical device manufacturing, which rely on workers with talents in science, technology, engineering, and mathematics (STEM).

“Equity is at the very center of this plan to create a more prosperous, more inclusive Memphis,” said Ted Townsend, chief economic development officer of the Greater Memphis Chamber. “As last year showed, we’re already in the economic development playoffs, but we want the championships. By the end of 2030, we want to be able to point at our regional scoreboard and do the Ja Morant victory dance.”

The Chamber is centering its plan around three key priorities.

Inclusive jobs: A prosperous Memphis is an inclusive Memphis. Goal: Create 50,000 high-quality jobs, with half of those jobs going to minorities.

Diverse industries: A healthy economy has a healthy mix of businesses. The Chamber plans to add to the goal: Add 700 new firms in advanced industries.

Future-ready talent: 20,000 STEM graduates per year, with 45 percent of those degrees going to Black students.

Currently, per the Chamber, Memphis is working on a total of 55 economic development recruitment projects, which represent almost 15,000 new jobs with salaries averaging more than $58,000, and capital investments of more than $10.6 billion. And 80 percent of those projects are in advanced manufacturing.

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News News Blog News Feature

Greater Memphis Chamber Releases Record-High April Jobs Report

Memphis received a boost with the latest round of new jobs data for metropolitan areas nationwide.

According to a report by the Greater Memphis Chamber’s Center for Economic Competitiveness, April saw the Greater Memphis region reach a record-high level of 661,400 jobs. The numbers continue an upward trend from March of this year, when the region recovered all the jobs that were lost during the Covid-19 pandemic.

National job growth continued to rise slowly in April at 0.3 percent. Greater Memphis’ job growth continued on par with the national average in April 2022 seasonally adjusted nonfarm payroll estimates. And between March and April 2022, local seasonally adjusted estimates rose by 2,300 jobs (0.35 percent).

(Credit: Greater Memphis Chamber/Source: St. Louis Federal Reserve, numbers are preliminary and seasonally adjusted)

Select peer metro areas have also seen a full recovery to March 2020 employment figures. And per the April 2022 report, Greater Memphis’ growth percent relative to March 2020 (+1.05 percent) surpasses that of Birmingham Metro (+0.15 percent), Louisville Metro (+0.31 percent), and Oklahoma City Metro (+0.67 percent).

(Credit: Greater Memphis Chamber/Source: St. Louis Federal Reserve, numbers are preliminary and seasonally adjusted)

Locally, the construction sector has seen the largest growth, of 7.59 percent over March 2020. Hospitality and leisure industries are still playing catch up, but have improved to just -1.97 percent short of March 2020 levels, with much of the summer season still to come. Per the report, education and health have been inert, with an average of 5 percent less employment than March 2020.

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Opinion The Last Word

The Rant

A Florida man says that his son was taken advantage of by a Florida Panhandle strip joint. Seems the father gave his son his credit card to celebrate his graduation from Georgia Tech, and the boy ran up a $53,000 tab. This appears to be a case where the strippers were the ones who got a “happy ending.”

I guess the young man, catapulted to an undergrad degree at the tender of age 24, did not learn the economics of real life in school — chief among them is to never give strippers a free shot at your credit card, no matter how drunk you are.

Much like their brethren the lawyers, strippers quickly size up a potential client for how much they can fleece from them, based on how much money they have and how stupid they appear to be.  

I have always supported honest entrepreneurs, especially when pitted against the stupid. It is good for society when money is not left too long in the hands of idiots. It is God’s way of getting money into smarter folks’ pockets. For the less religious among us, I call it economic Darwinism, and it often happens one crumpled $5 bill at a time. As the old saying goes, “A fool and his money are soon parted.” In this case, a fool and his dad’s money were soon partying.  

I do understand these men who spend silly amounts of money in strip clubs. I have had friends whose longest female relationships have lasted two table dances. Men go to these clubs to make themselves feel important because they are lacking in self-esteem or personal affirmation. They are paying for the illusion of being a big shot, and they convince themselves that these women actually think they are attractive. They usually get buyer’s remorse when the stripper’s cooing and ego-stroking ends, which invariably happens when the guy’s money runs out. Who knew?

Surprisingly, the government, which likes to wet its beak in all vices, has yet to devise a way to muscle in on the strip-joint business. They’ve done better with our other bad habits. The feds pay farmers to grow tobacco, then tax cigarettes, and then push lawsuits against cigarette manufacturers. Governments are also into gambling big-time now, sponsoring their own state lotteries (akin to running numbers) and licensing casinos. And of course, there is booze, where government takes an inordinate cut via taxes on alcohol sales. It is best to view the government as a mob boss without the protection racket — or moral consistency. 

I don’t go to strip clubs, but it’s not because I have any ethical opposition to them. The average stripper is doing the best she can with the assets she has to make money and provide for her famiy. And I respect that — especially her assets. Basically, I don’t go simply because I am too cheap.

As for the Georgia Tech grad, it sounds like he got a master’s in finance that night — for $53,000! Welcome to the real world, son! Pain is an excellent teacher, and often, in a society that makes excuses for bad behavior, it can be the only teacher. Of course, ridicule helps, which is what I do. It is my way of giving back.

Experience is how we learn life’s lessons. Experience delivers certain harsh truths to us Homo sapiens (and straight sapiens, too). This incident taught a young man the most valuable lesson in life: Don’t be an idiot.

See, everyone has a role in our society, even strippers.

Ron Hart is a columnist and former resident of Memphis.

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Letters To The Editor Opinion

Letters to the Editor

Class War?

President Bush’s visit to Memphis this week was a real eye-opener. I have read that the war in Iraq being waged by this administration is a class war, but I had not seen it so blatantly played out.

I was holding a sign that read “STOP THE WAR” as I took part in a peaceful protest. Bush was attending a political fund-raiser nearby for Republican senator Lamar Alexander.  The ticket price was $1,000, and if you wanted to super-size, you could spend $10,000 and get your picture taken with the man himself.

Guests for the Bush event parked at the Pink Palace lot. I couldn’t help but notice that every car that pulled in was a brand-new BMW, Mercedes Benz, large SUV, or Cadillac. They were all luxury cars. And the occupants, in their expensive dark suits, starched white shirts, and red ties, all looked spit-shined and neat, just like their vehicles. The women were dressed to kill, hair just so, accessorized and tanned. It was really weird how neat and perfect they all looked. They all seemed giddy with anticipation and didn’t give us the time of day. They were there to support the president.

In contrast, the 60 or so people I was standing with looked very different. We were a bedraggled bunch, mostly college students standing up for our right to assemble and speak our opposition to this mess that has been created in Iraq against our will. There wasn’t anyone among us in a suit. Where we parked, there were no shiny cars, just used vehicles. And there were a lot of us on bikes.

Polls say that two-thirds of Americans are against the war. That means there should have been more of us standing on the corner than there were attending the fund-raiser, but we were outnumbered at least four to one. Maybe it was because people who have a lot of money have more flexible schedules. Maybe it was because we just weren’t organized enough and nobody got the word. Maybe meeting the president seemed more important than standing on a corner holding a sign for peace.

Whatever the case, I found myself very comfortable with the people I was standing with, even if we were the minority. I firmly believe that what we did was the right thing to do. But I sure hope more people show up to stand with us next time. Maybe even somebody in a suit.

Billy Simpson
Memphis

The “Seniorphobic” Flyer?

It has been a while since the Flyer has rattled my cage, because someone has decided that all of us at the Frayser-Raleigh Senior Center don’t need to read your paper anymore.

Has the Flyer become “seniorphobic”? I would find that hard to believe, but nevertheless, I haven’t had my Flyer fix in three weeks.

Now, I can’t sit in my easy chair and smoke my pipe while listening to “Axis Bold As Love” and reading the only Memphis newspaper that seems to truly care about this city.

Please correct this travesty and don’t leave this faithful reader and some of his friends out in the cold.

Frank M. Boone

Memphis

Editor’s note: We will look into the situation and make sure your senior center remains on our delivery list.

Bush and the Devil

Americans need to wake up to the fact that President Bush has been making deals with the devil.

We know how the State Department has protected the killers at Blackwater, but there are more sinister killers that are coming to light. Arms dealers like Tomislav Damnjanovic, who operated out of Belgrade under Slobodan Milosevic during the Bosnian conflict, is now being paid with our tax dollars to run arms into Iraq and Afghanistan. While doing this, he is also running arms to terrorists linked to al-Qaeda in Somalia. This is according to U.N. investigators.

Damnjanovic also helped supply Libya’s air force and army with illegal arms shipments. In fact, almost anywhere people are being murdered by rebels or their own governments, this dealer of death is shipping arms and making money.

This is the man that our professed born-again Christian president is doing business with.

If you support Bush, you might want to start asking some tough questions of your senators, such as, why they have not protested or asked why America is doing business with killers who have no respect for freedom or the American way of life.

Jack Bishop

Cordova

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Politics Politics Feature

McCain Redux

The man who electrified much of the nation early in 2000 while running for president made Memphis the stage on Monday for what was billed as the unveiling of his economic program as part of a second campaign for the presidency.

Speaking at the University of Memphis Holiday Inn before an overflow audience of Economics Club members and other spectators, Arizona senator John McCain espoused traditionally conservative fiscal views and promised, if elected, not “to waste money” or “to let the government get in the way of making an honest dollar.”

McCain’s laissez-faire approach to economics also included pledges to restrict government entitlements, to revamp an “unsustainable” Social Security system, to reform the nation’s tax structure, and to oppose protectionist measures, advocating job-retraining programs for laid-off workers in obsolescent industries.

All in all, it was a relatively restrained performance that earned respectful attention and applause from an audience that included FedEx founder (and McCain supporter) Fred Smith, who introduced the candidate, former Texas senator Phil Gramm, and current 9th District congressman Steve Cohen.

McCain still gives off flashes of the candid, irreverent self that, early in the presidential campaign season of 2000, captivated voters across the political spectrum. In a media session with reporters following his ballroom speech, the senator made a point of being courtly, shaking hands with as many of the media attendees as possible.

Asked about his relatively dismal fund-raising so far (he is in third place in Republican ranks, behind both Massachusetts governor Mitt Romney and former New York mayor Rudy Giuliani), the senator said flatly, “Because I didn’t do a better job.” Asked why that was, McCain answered, “Because I’m not competent enough, I guess.”

It was hard to tell whether he was being tongue-in-cheek or merely stating a hard, if unpleasant, fact. He followed that up with the bland-sounding assurance that things were “moving forward” and that he was “very happy with where our campaign is today.”

Under the circumstances, it was impossible not to recall a prediction made at Rhodes College two weeks ago by veteran Democratic pol James Carville, who included among a series of predictions for the campaign year his guess that McCain’s presidential candidacy would be over with by the time of the Iowa caucuses in early 2008.

“He looks tired,” Carville had said. “He’s trying to be an establishment guy but can’t play the role. He hasn’t raised any money, and the Republicans don’t care for him.”

If “tired” was arguably too strong a word to describe McCain during his Memphis appearance, then certainly he appeared relatively unanimated. Perhaps that was due merely to the subject matter he had resolved to focus on (they don’t call economics “the dry science” for nothing). And his Economics Club address had after all been closer to a lecture appearance than a campaign rally.

But there was some ghost of the past that was playing in Monday’s scenario, as well. There was just the slightest shadow there of presidential candidate Bob Dole, circa 1996. Eight years earlier, Dole had run as the straight-talking alternative to his party’s status quo, and he won the Iowa caucuses over the favored Republican candidate, then vice president George Herbert Walker Bush.

A week later, though, Dole’s momentum had been stopped in New Hampshire by a concentrated slash-and-burn attack from Bush that caused Dole to lament that his adversary was “lying about my record.” Bush won big there and went on to gain the Republican nomination and the presidency.

Dole did not resurface as a presidential candidate until eight years later, when he’d made himself a loyal soldier of the Bush administration and, after getting the nomination, ran unsuccessfully as the GOP establishment candidate against the incumbent president, Democrat Bill Clinton.

With the exception that McCain has so far been running behind in his nomination race and that (consistent with Carville’s judgment) he seems still not to have gained much traction with his party’s establishment, McCain’s rerun, eight years after his first presidential try, has an uncanny resemblance to Dole’s experience.

In 2000, the reform-minded McCain, who won New Hampshire in a breeze, seemed almost to rise above issues of party and ideology. He was badly trashed by a disinformation campaign in South Carolina, however, and never quite regained his footing against George W. Bush, son of the former president, who, like his father, went on to win both the GOP nomination and the presidency.

McCain’s response over the next eight years was the same as Dole’s had been — to hunker down and prove himself loyal to the man who had beat him. In McCain’s case, that has included becoming the staunchest defender of the Iraq war at a time when national sentiment has clearly been running against it.

Though he was careful not to minimize the precarious and dangerous state of things in Iraq at the moment, the senator expressed both continued commitment to the military effort there and guarded optimism about the current “surge” effort.

It is too early to pronounce judgment on McCain’s chances in 2008, but the reminders of Dole’s experience are certainly there — even in the slightly cramped posture of the Arizona senator, the heroic survivor of long imprisonment and torture in North Vietnam.

Like Dole, wounded badly during World War Two and partly crippled as a result, McCain wears his heroic personal history — and his pain — in his very being. It remains to be seen how close the parallels to Dole’s political fate will be.

• Meeting in caucus last Thursday, the Democratic members of the Shelby County legislative delegation selected the three Democrats who will serve on the county Election Commission: They are (in order of votes received): Shep Wilbun, holder of several previous public offices; Myra Stiles, a longtime former commissioner; and O.C. Pleasant, holdover from the current commission and another longtime member.

Pleasant, who served as Election Commission chairman for many years, was tied with another aspirant, Joe Young, before Democratic Senate leader Jim Kyle broke the tie in the incumbent commissioner’s favor. The three commissioners-to-be were selected from among an original field of 15 applicants, who were narrowed down to five finalists the week before last. The two Republican commissioners, Nancy Hines and Rich Holden, are returning.

• Circuit Court judge D’Army Bailey is one of three jurists nominated by the state Judicial Selection Commission as prospective members to fill a vacancy in the Tennessee Supreme Court left by the retirement of Justice Adolfo Birch. The other nominees are Judges William Koch of Nashville and Creed McGinley of Savannah.

Governor Phil Bredesen had rejected the first group of candidates sent him by the commission last year as well as a second list that included a holdover from the first group. The state Supreme Court would eventually sustain Bredesen’s insistence on seeing a new list with all new names, and the current list is the result.

Bredesen has promised to name off the candidates from the list, and Bailey’s chances are rated as being good, based on the fact that he, like Birch, is an African American, and some believe the seat should be reserved for a black jurist.

• Another Memphis-based judge to receive a signal distinction of late is U.S. district judge Bernice Donald, who was recently named secretary-elect of the American Bar Association. Donald will be the first African American to become an officer of the A.B.A. if her nomination is approved, as expected, at the organization’s August convention in San Francisco.

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News News Feature

P.J. on Trade

Neither my children nor I were ever introduced in school to the writings of Ayn Rand and Adam Smith. Given that the singular objective of most educators is to indoctrinate the malleable minds of kids into their own semi-socialist thinking, they don’t expose kids to libertarian or capitalistic writers. So, as with most life lessons of value, I sought out these writers on my own. They have served me well, certainly better than Beowulf. (What was that all about? Requiring students to read it is like academic hazing.)

The practical thinking of those who believe in the individual has always appealed to me. Individuals fuel this country and always will. Today, there is no better proponent of this than the libertarian writer P.J. O’Rourke. I was fortunate to be able to spend two hours with him at a Cato Institute event in Florida recently. He can boil complicated subjects down to easily understood prose, and he does so with humor.

His latest endeavor is a reworking of Adam Smith’s 1776 classic, The Wealth of Nations. Smith’s groundbreaking book provided one of the best-known intellectual rationales for capitalism and free trade as a path to the betterment of all. He profoundly influenced the writings of later economists, and his observations of 231 years ago are as true today as they were then. O’Rourke’s achievement is to have taken Smith’s 900-page “doorstopper” and reworked it into modern terms and a manageable 227 pages.

Smith viewed the freedom of consumers to choose and merchants to provide goods and services as essential to the wealth of all — thus the title. Unfettered capitalism, unobstructed by tariffs, taxes, government regulation, plutocracy, and the like, benefits us all, Smith says. Smith even had the thought-provoking idea that government should not even license doctors, as it did more to validate quacks than protect the informed public. Since cutting-edge leech medicine was practiced then, it was probably a good idea.

Trade, when conducted freely, will in the aggregate serve mankind well. And to paraphrase the much-maligned line from the film Wall Street uttered by Gordon Gekko, “greed is good.” Or better put, enlightened self-interest, in a free society, is good. Whether we admit it or not, self-interest drives us all. Not as blatant selfishness or greed but as a natural human need to provide for one’s family and to be a productive member of society.

Smith wrote: “It isn’t from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest.” If a car dealer or televangelist who is taking our check tells you that he is doing so “for the greater good,” watch your wallet.

Put another way, government thinks it has to regulate everything for us because we are stupid. Politicians pat themselves on the back for doing nothing that free markets would not otherwise accomplish for us.

It is not the USDA that keeps your local supermarket from trying to make a little more money by selling tainted meat. It is their knowledge that their reputation and their future profits will be adversely affected by such. I tell the people who work for me “to be long-term greedy.” Think of your reputation as your stock and trade, and do nothing to clients that is not in their best interest — and therefore, ultimately, your own. The old saying that you can shear a sheep every month but you can only slaughter it once applies here. Businesses that do not do that, in a world with a vigilant free press, will not survive.

The framers of our constitution were clearly for less government. Modern politicians of both parties have forgotten that. As O’Rourke said, “The U.S. Constitution is less than a quarter the length of a Toyota Camry owner’s manual, and it has managed to keep 300 million of the world’s most unruly, passionate, and energetic people safe, prosperous, and free.”

In the world today, where the right wants to tell you what you can do in the bedroom and the left wants to tell you what car you can drive and how to spend your money, it is important that the words of Adam Smith are heard again.

Ron Hart is a columnist and investor in Atlanta. He worked for Goldman Sachs and was appointed to the Tennessee Board of Regents by Lamar Alexander. His e-mail: RevRon10@aol.com