Carolyn Hardy, CEO of Chism Hardy Investments, has a track record of success when it comes to aligning with business opportunities that yield dividends for the Memphis area. On Monday (Aug. 19), Hardy helped unveil a venture that she puts in that category.
Mayor AC Wharton Jr. and Shelby County Mark Luttrell Jr. participated in the grand opening of the Marine Repair Services and Container Maintenance Corporation (MRS-CMC) new multi-million dollar maintenance shop and intermodal yard at 4530 Clarke Road in Memphis Tennessee. The facility has a 10,800 square foot maintenance shop on 30 acres for intermodal container and truck storage on a bonded yard.
Additionally, the facility is one mile from the BNSF Memphis Intermodal facility.
MONEY MATTERS Because of tax changes that take effect in 2013, some upper-income households are facing the prospect of higher tax rates on investment earnings.
The potential for taxes to claim a larger share of investment earnings means that many people might take advantage of opportunities to invest in tax-deferred retirement plans such as 401(k)s and IRAs. Of course, many factors other than taxes should influence investing decisions, including your investment goals, time horizon, and risk tolerance.
The following rate increases explain why you might consider the tax implications of investment decisions.
ON OUR WAY TO WEALTHY Breaking into retail is never easy, which is why Tiffany Greenlee tapped into her creativity and obtained a kiosk in the Wolfchase Galleria to give herself a leg up.
Rather than wait for her candles to be in every retail store, Greenlee decided to create her own retail opportunity and now envisions a chain of kiosks across the region.
Carlee McCullough: Tell us a little bit about yourself.
Tiffany Greenlee: I wear many hats! I am a mother of three boys, one of whom has autism. I am a wife, a published author and a nurse by profession. I am an advocate for autism and currently sit on the board of The Autism Lives Foundation. I am a very humble God-fearing woman.
CM: How and when did you begin your career in the candle making industry?
The top 100 African-American industrial/service companies – the core of Black Enterprise's 2013 report – collectively grossed more than $19.1 billion in 2012, a 2 percent increase over the previous year.
The BE 100s industrial/service companies employed 53,866 people in 2012, a 3 percent reduction from 2011.
The 60 largest black-owned auto dealers generated an additional $7.2 billion in revenues and employed 8,415 people in 2012. Despite the rebound of the domestic auto industry, the number of black-owned auto dealerships has yet to return to the levels prior to the beginning of the 2008 recession, when Black Enterprise ranked the top 100 largest dealerships.
ON OUR WAY TO WEALTHY Recently I tasted a sauce that was so good that I wanted to put it on everything. Already I have tried it on tacos, fish, steak, barbecue, hamburgers, chicken, lamb and French fries. The true treat was getting to know James Pitchford, who has taken the family sauce and perfected it. He started the Pitchford Sauce Company, LLC and this is his story.
Carlee McCullough: Tell me about yourself.
James Pitchford: In the past, my life has been one of struggle like so many others. With God I was able to persevere and overcome. I am steadily evolving as a person and as a business person. As it relates to my professional life, I have done heating, air conditioning, ventilation (HVAC) and plumbing in many capacities and for many clients. But as of recently, I am the founder and creator of Oo! D...Good Sauce®.
Radio personality and "What's Happening Myron" entertainment columnist Myron Mays is now an App. Well, more precisely, Mays has just released the WHM Mobile App.
"It's a pretty good tool if you want to be connected to what's happening in Memphis," said Mays.
"I just added a Black Business directory to it and starting this Friday (Aug. 16), I will also have a small business resource feature as well. You can of course keep up with the Book Club happenings, listen to all of my radio shows and access all of the latest concerts and events."
From March 2009 – when the stock market hit bottom during the financial crisis – through December 2012, investors withdrew almost $400 billion more from equity mutual funds than they added to them. During the same period, the S&P 500 gained more than 100 percent, leaving many frustrated investors in its wake.
The flight from stocks during the depths of the recession was not surprising, but 2012 saw the biggest migration from stock funds during the last five years. Yet the average equity fund, with reinvestment of dividends, gained 14.6 percent in 2012. Of course, past performance does not guarantee future results.
The tide seems to be turning in 2013, with net investment of almost $20 billion in domestic equity funds during the first two months. Perhaps it's a good time to examine the role of stocks or stock funds in your portfolio.