AGP Executive Report

Logistics Deal: CMA CGM is set to acquire FedEx Supply Chain in a $1.4 billion deal, expanding its North American contract logistics footprint and adding about 10,000 FedEx Supply Chain staff. Banking Spotlight: First Horizon says CIO Mohan Sankararaman was named American Banker’s “Most Innovative People in Finance,” underscoring Memphis-based bank’s push in digital banking. Healthcare Leadership: Scotland County Hospital’s rural health clinic director, Cheyenne Neagle, completed the National Rural Health Association’s Rural Health Clinic Leader Certification Program. Workforce & Safety: Memphis-area construction crews are facing elevated heat illness risks, with safety coordinators emphasizing hydration breaks and monitoring for heat stress signs. Local Governance & Growth: Nashville’s data center proposal near the zoo is drawing protests as residents question the plan’s impacts; meanwhile, Missouri signed a federal permitting agreement aimed at speeding infrastructure approvals. Business Community: Ballad Health added Bristol Motor Speedway leader Jerry Caldwell and former Food City CFO Eddie Neely to its board, strengthening regional business leadership.

Heat & Power Disruptions: MLGW says thousands in Memphis were still without power and air conditioning after storms, with crews working to restore service and a mobile command center set up as the heat risk stays high. Local Tax Relief: Nashville’s half-cent grocery tax cut went into effect July 1, trimming the local grocery tax rate to 1.75% and saving shoppers about $72 a year. Logistics & Corporate Deals: FedEx is selling its Supply Chain logistics unit to France’s CMA CGM Group for $1.4B, a move aimed at scaling contract logistics in North America. Business Growth & Expansion: Dave’s Hot Chicken opened in Ireland and is pushing further international growth, while In-N-Out announced new Tennessee-area openings. Food Safety Watch: Tennessee Valley inspectors documented serious restaurant violations, including raw chicken contamination and an expired food safety certification. NBA & Tennessee Ties: The Lakers’ offseason reshuffle continues after LeBron’s exit, while Tennessee’s NBA pipeline remains in motion as major trades reshape rosters.

NBA Blockbusters: The Celtics agreed to trade 2024 Finals MVP Jaylen Brown to the Philadelphia 76ers for Paul George and draft capital, reshaping Boston’s title core as the league keeps churning out major deals. Local Business & Infrastructure: TDOT’s Sugar Valley Drive closure during the Nolensville Pike widening project left nearby Nashville-area businesses scrambling for access, but contractors added a new driveway entry and better signage after complaints. Corporate Moves: Unum Group promoted Andrew Walker to Executive VP and Chief Customer Operations Officer, expanding leadership over customer operations and transformation efforts. Banking Calendar: Commercial Bancgroup set its Q2 2026 earnings release for July 27 after market close. Sports Business (Tennessee ties): Memphis Grizzlies continued their rebuild after trading Ja Morant, including a reported follow-on deal sending Santi Aldama to Dallas for AJ Johnson and draft picks. Nashville Development Fight: Hamilton County commissioners passed Plan Hamilton in a narrow vote, with opponents targeting density changes in the zoning guide.

Nashville Data Center Fight: Nashville Mayor moves to block a proposed private data center near the Nashville Zoo using eminent domain, escalating a local fight over endangered-species impacts and planning approvals. Workforce & Labor: BlueOval SK Battery Park workers in Kentucky launch a UAW union drive as hiring ramps for the $5.8B Ford–SK On EV battery project. Business & Defense Supply Chain: Amaero wins a $344,000 production contract from Bechtel Plant Machinery for submarine-industrial-base piping, continuing its Navy-linked work. Retail & Local Economy: LaFollette Press racks up six Tennessee Press Association awards, including business coverage recognition tied to a thrift-store closure/reopening story. Manufacturing & Tech: Intelligent Memory highlights long-term DRAM supply strategies for industrial, medical and embedded markets at FMS 2026. Corporate Moves: Public Policy Holding Company (PPHC) acquires London-based Tancredi, expanding litigation and crisis communications under TrailRunner International. Housing & Costs: A new Tennessee law takes effect to restrict how minors can be used to generate social-media income, with revenue protections and removal rights. Jobs Watch: Shelby County WARN notices total 1,454 layoffs so far in 2026, outpacing last year’s pace.

NBA Business: Ja Morant is headed to Portland after Memphis and the Trail Blazers agreed to a trade, a major shakeup that reshapes both teams’ rosters and payroll plans. Local Tech & Retail: Majors Management, a Knoxville-area convenience-store and fuel operator, is rolling out AI across pricing, inventory, loyalty, labor planning and customer experience with ResultStack. Sports Dealmaking: Jock Landale agreed to a one-year, $14M deal to re-sign with the Atlanta Hawks, while Portland also locked in Robert Williams III with an extension through 2028-29. Policy & Legal: The U.S. Supreme Court upheld birthright citizenship and also sustained transgender sports bans, keeping culture-war policy in the spotlight. Tennessee Health & Community: A Tennessee university settlement tops $1.9M after a professor was fired over Charlie Kirk comments, and Tennessee Oncology’s breast cancer podcast highlights new SERENA-6 trial debate. Business Climate: Tennessee’s hemp farmers are adjusting as state restrictions take effect. Public Safety: AAA warns Mid-South drivers about hot-car dangers as extreme heat hits.

NBA & Local Economy: The Memphis Grizzlies have traded star guard Ja Morant to the Portland Trail Blazers for Jerami Grant and Kris Murray, ending a seven-year Memphis era and setting up a fresh offseason ripple effect for ticket demand, sponsorships, and roster strategy as free agency approaches. Healthcare & Business: Provectus Biopharmaceuticals and its VisiRose unit won a U.S. patent for a light-independent antibacterial eye drop targeting drug-resistant infections like MRSA, a potential boost for Knoxville-area biotech commercialization. Retail Expansion: Bob’s Discount Furniture plans four new Tennessee stores around Nashville—Rivergate/Madison, Murfreesboro, Clarksville, and Franklin—signaling continued growth in the state’s consumer market. Education Policy: A growing national fight over AI cheating accusations is pushing students into high-stakes misconduct proceedings, raising questions about detection reliability and campus rules. Tech & Kids Online Safety: The U.S. House passed the Kids Internet and Digital Safety Act, adding new pressure on Big Tech and lawmakers as Senate negotiations loom. Student Debt: Major federal student loan repayment changes begin July 1, including the end of the SAVE plan and new required monthly payments for many borrowers.

NBA Trade Watch: The Memphis Grizzlies have traded Ja Morant to the Portland Trail Blazers, sending Jerami Grant and Kris Murray to Memphis, a move that ends Morant’s seven-year run and reshapes both rosters right before free agency. Local Sports & Community: Tennessee high school basketball is moving toward a 35-second shot clock with a four-year rollout starting this season and full adoption by 2029-30, with players saying it should speed late-game action. Public Safety: The Tennessee Bureau of Investigation is warning about a growing financial sextortion threat aimed at children and teens, citing rising national reports and urging families to report immediately and never pay. Business & Growth: Memphis names new top finance leadership as the city navigates economic pressures, while Tennessee continues to see strong business registration momentum. Tech & Policy: Nashville-area data center fights keep heating up, with residents and lawmakers pushing back on new projects tied to AI demand.

Nashville Economy & Small Business: A new Bank of America report finds Nashville small and mid-sized business owners are still upbeat—74% expect revenue growth and 59% plan to expand—despite inflation worries and supply-chain disruptions. Corporate Moves: Genesco names Jonathan Collins as CFO, effective Aug. 3, as the company continues its “Footwear First” push. Public Finance & Food Assistance: Tennessee faces potential SNAP cost penalties if its payment error rate doesn’t improve, with USDA data showing a 9.44% error rate in FY2025. Sports Business: The Nashville Predators locked in Jack Drury with a five-year, $22.5 million deal after acquiring him from the Avalanche. Weather & Risk: The National Weather Service warns dangerous heat is expanding across Tennessee, with an extreme heat watch expected to start Monday. Tech & Healthcare Industry: Insight Molecular Diagnostics says its Chief Science Officer has published his 200th paper, tied to its dd-cfDNA transplant rejection testing platform. Local Business Spotlight: MEMPHIS Electronic will share memory market guidance at FMS 2026, marking 35 years in the memory tech business.

Veterans & Tourism: Nashville Adventures and JHR Photography launched the city’s first private, professionally photographed mural tour, pairing two veteran-owned businesses to deliver high-resolution images at iconic and hidden spots. Health Policy: Tennessee lawmakers are pushing business tax payment transparency, with Senate Bill 1009 set for a Tuesday hearing, arguing Tennesseans should see which big companies pay and which don’t. Drug Costs & PBMs: States—including Tennessee—are moving to rein in pharmacy benefit managers; a Tennessee law would bar PBMs from operating retail pharmacies starting July 1, 2028, while PBMs face broader state regulation and lawsuits. Local Economy & Jobs: Tennessee’s May labor data shows a tight market, with 94 of 95 counties under 5% unemployment and Montgomery County down to 3.4%. Healthcare Branding: Centerstone held a ceremony marking the official rebrand of Preferred Family Healthcare (PFH) at its LaHarpe Clinic in Kirksville. Sports Business: The Nashville Predators signed center Jack Drury to a five-year, $22.5 million deal after acquiring him from the Avalanche.

Unclaimed Property Windfall: Tennessee’s Treasury returned a record $68.7M in unclaimed cash property in FY2023, reuniting 65,150 claims with owners and heirs via ClaimItTN.gov. Forestry Leadership: Gov. Bill Lee named Heather Slayton Tennessee state forester, overseeing 400 staff and 168,000 acres of state forests. Hurricane Helene Tax Relief: Tennessee extended franchise/excise tax deadlines for affected counties and offers sales tax refunds for damaged homes, with additional extensions handled case-by-case. Drug Pricing Push: States—including Tennessee—are moving to rein in pharmacy benefit managers, with Tennessee’s law barring PBMs from operating retail pharmacies starting July 1, 2028. Local Housing Milestone: Nashville’s MDHA PILOT program hit 10 years and 11,000 units, marking an affordable-housing expansion effort. City Budget Update: Memphis City Council approved Mayor FY2027 budget priorities focused on public safety amid ongoing economic strain. Business Growth Signals: Tennessee reported a record number of company registrations, alongside continued momentum in new business filings.

State Revenue Watch: Tennessee’s February tax collections came in at $1.4B, slightly above last year but below budget, with the year-to-date surplus now under 1%, as winter weather and softer corporate and hemp taxes weighed on results. Public Finance & Compliance: New laws tighten Tennessee’s open-meetings rules, requiring clearer agendas and public comment when action is planned—aimed at reducing “vague” governance. Cyber & Insurance Risk: AssuranceAmerica disclosed a breach that may have exposed sensitive data for 1.1M people across seven states, including Social Security information. Health & Food Safety: ETSU launched a free dual-enrollment pharmacy class for eligible high school students, while a USDA recall flagged mislabeled pasta salad that could contain undeclared egg and milk allergens. Local Business & Growth: Tennessee’s new business filings hit a record pace, and Tri-State Growers and Smoky Mountain Farmers Co-op announced a merger. Community & Workforce: United Tennessee Bankshares reported first-quarter earnings, and Cirrus opened a talent center tied to workforce development.

Local Economy & Jobs: Memphis mayor named new COO and CFO replacements amid the city’s economic struggles, signaling fresh leadership as the administration looks to stabilize operations. Housing & Growth: Nashville’s MDHA PILOT program marked 10 years and 11,000 units, a key milestone in the city’s affordable-housing push. Public Finance: Memphis City Council approved Mayor’s FY2027 budget prioritizing public safety, while also moving forward on major spending items like repairs at AutoZone Park. Energy & Infrastructure: The Ridgeline Expansion Project—an Enbridge natural gas pipeline system—remains on track to be completed this fall, with delivery targets tied to TVA’s Kingston Fossil Plant. Business Regulation: Tennessee’s shot clock rollout advanced as TSSAA voted for a 35-second shot clock, with full implementation later; separate from sports, it reflects how state rules keep shifting. Agriculture & Food Markets: UT Extension is running a direct-to-consumer beef webinar series, and UT Extension also plans a Southeast Tennessee Beef Summit focused on production and marketing. Consumer & Travel: Nokian Tyres launched a Road Trip Guide campaign inviting drivers to submit destinations, with products tied to its Tennessee manufacturing footprint. Antitrust & Tech: The FTC cleared Elon Musk to acquire Mesh Optical, a startup making optical hardware for AI data centers.

Business Growth Watch: Tennessee hit a record 486,000 business entities, up 37.5% year over year, with Davidson County leading filings and new entity filings in Q4 at the second-highest level in 25 years. Transportation & Economic Development: U.S. Transportation Secretary Pete Buttigieg backed expanding Amtrak service in Tennessee, arguing rail links to Memphis and beyond could “unlock” economic activity. Finance & Credit Unions: ORNL Federal Credit Union and Lowland Credit Union announced plans to merge, aiming to close in Q2 2024 pending approvals, creating a combined East Tennessee institution serving about 210,000 members. Cybersecurity Funding: Tennessee and other states warned that federal cybersecurity grant money is running out, and the next hurdle is sustaining local cyber defenses without new funding. Public Policy & Food Costs: A federal court blocked SNAP food restriction waivers in five states, saying USDA exceeded its authority when it tried to narrow eligible foods. Local Government Budgeting: Memphis City Council approved its FY2027 budget with a 2% sanitation raise plus a one-time $2,000 bonus, keeping the property tax rate unchanged.

Company Branding: Fastweigh, a bulk-materials software provider founded in 1988, rolled out a refreshed brand and new website as it pushes further into cloud-based plant, dispatch, billing and reporting for aggregate, asphalt and waste operators. AI + Power Markets: A market commentary highlights how AI data-center demand is reshaping the power business, with early Bitcoin miners like Bitzero described as positioned to benefit from low-cost electricity supply. Immigration Detention Procurement: DHS chief Markwayne Mullin told lawmakers the Trump administration’s $1B warehouse conversion plan lacked proper due diligence, and DHS is now reviewing 11 purchased warehouses to decide what can realistically be converted. Healthcare Policy: Express Scripts and the Pharmaceutical Care Management Association filed new lawsuits challenging Tennessee’s Fair Rx Act, which bans PBMs from owning pharmacies. Housing Negotiations: Redfin data shows seller concessions rising to 46.2% of U.S. home sales, signaling a more negotiation-heavy summer as buyers ask for closing-cost help and repairs. Local Business + Growth: Memphis’ Sterick Building redevelopment is moving ahead via a new nonprofit public market effort, while East Memphis prepares a new Sonic at a former Wendy’s site. Agriculture: VINE Foods began its first harvest of vine-ripened tomatoes in Memphis, aiming to scale a new local food production model.

Healthcare Leadership: HealthTrust Performance Group promoted Haley Addis to Chief of Staff, GPO Operations, and Brian Moran to Chief Pharmacy Officer, GPO Operations, expanding executive leadership in Nashville. Energy & IP: Shoals Technologies Group won a U.S. International Trade Commission decision upholding its patent infringement case, reinforcing protections for U.S.-made energy infrastructure tech. Logistics Outlook: Memphis-based FedEx Freight forecast 4%–6% revenue growth for the rest of 2026 and outlined margin pressures tied to separation costs and softer shipments. Workforce/Business Ops: Nashville-based Varex Solutions founder Jay Roland says technical debt is draining corporate IT budgets and is pitching consulting to cut inefficiencies. Local Government & Services: Franklin City moved to fast-track a sanitation contract extension via an emergency meeting to avoid a lapse as county bidding timelines tighten. Education Facilities: A school board faced construction delays for a planned Pre-K center, with officials scrambling to secure approvals and move-in dates. Sports Business (Tennessee tie-in): The Bucks introduced lottery picks Nate Ament (Tennessee) and Brayden Burries after the Giannis-to-Miami trade reshaped Milwaukee’s roster.

Education & Housing Finance: iEmergent is backing the new CONVERGENCE Knowledge Hub, including a Market Profile Dashboard meant to help lenders and community groups spot homeownership gaps and affordability barriers. State Budget & Private School Vouchers: Tennessee lawmakers approved a $356M contract increase for Student First Technologies to expand its private-school voucher portal, lifting the maximum to nearly $637M over five years. Consumer & Fraud Watch: Better Business Bureau warns loan-processing scams are rising, with fake lenders and robocalls pushing “approved” loans that never existed. Health & Safety: Tennessee Valley inspectors found serious food-safety problems, including water dripping onto ready-to-eat foods, cross-contamination, improper glove and handwashing, and mold in an ice machine. Local Business & Tourism: Shelby County tourism topped $100M for the first time, while Nashville’s Opryland Hotel expansion history gets renewed attention. Biotech: Provectus launched Veripure, an open-science program offering pharmaceutical-grade PV-10 research access to qualified investigators.