Submitted by press releases Here’s a look at promotions, hirings, movers and newsmakers in the Memphis area business scene : Junior Achievement of Memphis and the Mid-South has announced three staff additions: Kimberly Hooper-Taylor , previously director of Education for Stax Museum, has joined as a JA Inspire coordinator; Ayanna Clark has joined as Community Engagement coordinator; Megan Ryan is Special Events and Development coordinator. Scott Hendricks , managing partner of New York Life of Memphis, joined Junior Achievement’s board of directors. Tess Shelton has joined the Memphis law firm of Godwin, Morris, Laurenzi & Bloomfield as an Associate Attorney. She is a 2022 graduate of the University of Memphis law school where she was inducted into the National Order of the Barristers for Moot Court participation. Shelton will focus her practice on union-side labor law. The Lewis Thomason law firm’s shareholders have elected Kevin Baskette , a shareholder in the firm’s Memphis office, to the Board of Directors. He is a Supreme Court Rule 31 Mediator and trial lawyer who practices in Mississippi and Tennessee in healthcare liability, construction defect litigation and transportation law along with professional malpractice, products liability defense and personal injury litigation. Baskette is an […]

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Crowded tavern getty Economic news comes out frequently, creating a cacophony of often-conflicting trends, dominated by the scariest items. Business leaders must understand the economic issues driving their companies’ profits, but at the same time cope with challenges of sales, marketing, personnel, production and finance. It seems impossible to keep up on economics while also running a business. Fortunately, the concept of an economics tavern can help both corporate executives and small business owners tune in to what’s important while filtering out random noise. Imagine walking into a noisy, crowded bar, maybe Friday afternoon after work. Standing at the bar, bits and pieces of a dozen conversations are overheard and mostly ignored. Then, one particular voice stands out. If I am at the bar, the voice could be talking about sailing or visiting Rome or woodworking. Tom would hear the discussion about artificial intelligence, Christina would eavesdrop on a Swedish conversation and Anna’s ears would perk up if someone talked about raising chickens. At the economics tavern, talk is about unemployment, the trade deficit, interest rates and a host of other subjects. A business leader must pick out the appropriate topics to hear about, and that requires preparation. Most […]

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New York CNN — Nearly 5 million bottles of Fabuloso multi-purpose cleaner have been voluntary recalled because there’s a “risk of bacterial growth,” the company said. The company said a preservative “was not added at the intended levels during manufacturing,” which resulted in the growth of Pseudomonas species, a bacteria found widely in soil and water. Fabuloso is owned by Colgate-Palmolive (CL) . People who are most at risk include those with weakened immune systems, external medical devices or underlying lung conditions, according to the US Consumer Product Safety Commission , adding that the bacteria can “enter the body if inhaled, through the eyes, or through a break in the skin.” An alert issued Wednesday by the CPSC said the 4.9 million bottles were manufactured between December 14, 2022 through January 23, 2023 and were sold at a variety of retailers including Amazon, Dollar General, Home Depot, Sam’s Club and Walmart. Around 3.9 million bottles were never released for sale, the company said. The first eight digits of the lot code of the recalled products are 2348US78 through 2365US78 and 3001US78 through 3023US78, the CPSC said. If a customer has one of the products listed below, the company can […]

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Feb 9 (Reuters) – BorgWarner Inc (BWA.N) said on Thursday it expects sales from its electric vehicle (EV) business to grow at least 72% in 2023 as the U.S. auto supplier increasingly shifts its focus toward EV makers. The company, which makes products including turbochargers and battery heaters, forecast sales for its electric supply unit to be in the range of $1.5 billion to $1.8 billion in 2023, compared with $870 million in 2022. BorgWarner in December announced plans to spin-off its fuel systems and aftermarket units to focus solely on air management and e-propulsion & drivetrain units. The company, which supplies to automakers including General Motors Co (GM.N) and Ford Motor Co (F.N) , aims to meet or even exceed its target of 25% of revenue from EVs by 2025 . Robust EV production also helped BorgWarner’s fourth-quarter results to beat analysts’ estimates, according to Refinitiv data. The company’s sales were at $4.1 billion, compared with estimates of $3.90 billion. On an adjusted basis, the company’s net income was $1.26 per share, compared with estimates of $1.08 per share. The Michigan-based company also expects net sales in the range of $16.7 billion to $17.5 billion for 2023, compared […]

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Russia’s President Vladimir Putin attends a meeting with secretaries of security councils and national security advisers to discuss Afghan issues at the Kremlin in Moscow, Russia, February 8, 2023. Sputnik/Grigory Sysoev/Pool via REUTERS Feb 9 (Reuters) – President Vladimir Putin waved a sarcastic farewell on Thursday to foreign businesses which have left Russia over the conflict in Ukraine, saying their departure would benefit Russian companies. Speaking to senior officials at a meeting broadcast on state television, Putin said those companies had suffered major losses as a result of exiting a large and lucrative market. "Today many of them (Western brands), under pressure from their governments, are leaving our market. All the best to them," he said, briefly waving his hand in a farewell gesture. "Nothing (in Russia) has collapsed and nothing is falling apart. Our companies and entrepreneurs are picking up these enterprises, and even entire sectors, and continue this work very successfully," Putin added. Scores of Western companies – from energy producers to food and clothing chains – have left Russia in the last year, amid unprecedented sanctions imposed by Western countries after Russia deployed tens of thousands of troops to Ukraine. Latest Updates Some departed firms have […]

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Americans created 10.5 million businesses in 2021 and 2022. Americans created 10.5 million businesses in the last two years, according to Census Bureau data. That momentum is expected to continue in 2023, despite inflation, layoffs, and recession fears. If a recession does play out, many entrepreneurs will be well positioned to weather a downturn. Sign up for our weekday newsletter, packed with original analysis, news, and trends — delivered right to your inbox. Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. Email address By clicking ‘Sign up’, you agree to receive marketing emails from Insider as well as other partner offers and accept our Terms of Service and Privacy Policy . Americans created 10.5 million new businesses in the last two years, according to Census Bureau data . Experts say that momentum could continue in 2023, despite inflation, layoffs, and fears of a possible recession . After all, people have historically started more businesses during recessions . "We’re in a period of a relatively strong economy," said Lawrence White, an economics professor at New York University. "I think we’re going to continue to see a strong pattern […]

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Collaborative, Dynamic Leader Will Assist Course Material Paradigm Shift as the Higher Education Market Revolutionizes Delivery Models CHICAGO, Feb. 9, 2023 /PRNewswire/ — RedShelf (about.redshelf.com), a leader in the EdTech industry, today announced the addition of Frank Gentile as its new Vice President of Business Development & Customer Success. Gentile brings to RedShelf over 12 years of experience in the higher education market, having led product development, quality assurance, onboarding, support, sales, strategy, marketing, customer success, and operations teams. As Vice President of Business Development & Customer Success, Gentile will lead RedShelf’s Customer Success Team and newly formed Partner Growth Team as they assist institutions across the country to transform their digital course materials delivery with models such as Inclusive Access and Equitable Access. "Digital-first delivery models are the future of course materials in higher education, and Frank’s leadership will help us expand their benefits to students," said Greg Fenton, CEO of RedShelf. "On top of that, his focus on intense collaboration and constant innovation will allow us to continue to exceed our customers’ high expectations for service and responsiveness." "I am excited to join RedShelf’s team and for the opportunity to contribute to accelerating the trajectory of this […]

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Tenth annual Security Dealer Study addresses competitive pressures, industry conditions, and new trends for security market DALLAS, Feb. 9, 2023 /PRNewswire/ — Parks Associates’ 10 th annual Security Dealer Perspectives: Views from the Front Line presents and analyzes the results of a nationwide survey of installers/dealers who install security systems, including both owners and those employed by security firms. The survey, conducted at the end of 2022, reveals that one-third of owners of a security dealer firm have considered selling their business, although 42% have no succession plan. Continue Reading Parks Associates: Company Succession Statement The research quantifies the dealers’ view of the security market, with data compared across multiple surveys, and analyzes competitive pressures, industry conditions, and new trends, including the addition of smart home and interactive technologies. "2022 was a difficult year for home sales after several boom years, and the years to come will be challenging for the housing market," said Elizabeth Parks , President and CMO, Parks Associates. "Between inflation, increased home prices, rising mortgage rates, and general uncertainty over the health and direction of the economy, consumers are pulling back on spending and buying homes." Parks Associates’ research of 10,000 internet households shows that […]

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Photo: Bunge Ltd. ST. LOUIS — As it heads into fiscal 2023, executives at Bunge Ltd. expect the company to face challenges across its three main business units, including its core agribusiness segment, which is expected to be dragged down by the unit’s merchandising business. The sluggish outlook was presented against a backdrop of full-year financial results that included a 14% spike in sales. Bunge net income in the year ended Dec. 31, 2022, was $1.61 billion, equal to $10.51 per share on the common stock, down 23% from $2.08 billion, or $13.64 per share, in fiscal 2021. Adjusted total segment EBIT, though, increased to $2.86 billion from $2.53 billion. On an adjusted basis, earnings per share were $13.91 in 2022, up from $12.93 in 2021. Sales in 2022 were $67.23 billion, up 14% from $59.15 billion. Shares of Bunge climbed to $103.39 in mid-day trading on the New York Stock Exchange on Feb. 8, the day results were announced, before falling back to close at $98.69, down narrowly from the previous day’s close of $98.96. In a Feb. 8 conference call with securities analysts, Gregory A. Heckman, chief executive officer of Bunge, said the past year demonstrated the […]

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Whether you are just starting out in business or have been a credible brand name lauded in the industry for decades, it’s always critical to take a regular assessment of your areas of potential vulnerability—from business deals and investment opportunities to customer behavior patterns and satisfaction with a product or service. This will enable the organization to better prepare for and navigate through marketplace uncertainties—and be more likely to overcome the odds. In a global economy that is constantly evolving in a digital age, it’s essential for company leaders to protect their teams and their business by staying up to date on the latest consumer trends and market regulations so that they’re able to exceed expectations and remain in compliance at all times. Here are 13 tried-and-true best practices from Forbes Business Development Council members that are highly recommended. Members pictured from left to right. Photos courtesy of individual members. 1. Be Equipped To Fill Unexpected Consumer Needs And Trends Be nimble—if outside factors could impact your business, be ready to “move” into adjacent areas. Instead of focusing entirely on investments for new product development, think about how your existing products can benefit adjacent industries with minor adjustments. For […]

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