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Another Fortune 500 company is relocating to Memphis

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cdarr Whistle-Stop

cdarr

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Wow seriously...how many jobs will this add to Memphis?

Probably 100 to 150. This will be very similar to the International Paper HQ move to Memphis. Like IP, ServiceMaster has most of its corporate operations in Memphis already, but has maintained its HQ in Chicago due to tradition, top execs living there, etc.

Unfortunately, by the time the move occurs, ServiceMaster might not be Fortune 500 anymore. They are 494 right now and not growing very fast. Hopefully, the move to Memphis will coincide with new executive leadership. They have made a number of poor acquisition decisions during the past few years and have failed to properly integrate the operations of all their units (Terminix, TruGreen, Merry Maids, etc.). The American Home Shield is keeping things afloat. Inexplicably, they refuse to create a unifed identity and instead market all of their businesses separately. They have thousands of vehicles all over the U.S. with different brand names....rather than (like FedEx) having the same logo appear everywhere.

Now that I'm done critiquing my former company , let me say that this would be a great development for Memphis and a long-overdue decision for ServiceMaster!

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cdarr Whistle-Stop

cdarr

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Hopefully they improve, but regardless, this is a nice grab. Just because it's not a F500/1000 company doesn't mean it isn't worth attracting. But hopefully they turn their performance around.

Oh yes, Clobber, I certainly agree. Having another major company HQ in Memphis will be awesome. And I'm sure they will eventually get on an upswing again. They actually just sacked the guy who had been CEO for about 5 years, so maybe the new guy will get them back on track.

If they would ever decide to make themselves a recognizable brand name, they could become an absolute monster in the home services industry...the company many people just call up by default whenever they need something like pest control, lawn care, a/c service, electrical, plumbing, handyman, etc. done at home.

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jmduke Whistle-Stop

jmduke

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The Commercial Appeal article on 09/23 mentions ServiceMaster's options in Memphis. Hmmm...4 buildings of 150,000 square feet apiece for $122 million? Wouldn't that translate nicely to a single 30-story tower downtown? Or, perhaps a development on the west side of the former Mall of Memphis site (next to the new Wal-Mart :D )?

You have to think if this deal comes to fruition, they'll choose to stay in Ridgeway Center because it's a far lesser investement for them. Either way, it's good for Memphis if it happens.

http://www.commercialappeal.com/mca/busine...5014974,00.html

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  • 1 month later...
Rardy Burg

Rardy

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ServiceMaster's board of directors meets today and will be voting at 2 p.m. on whether to relocate to Memphis, per today's CA.

CEO Patrick Spainhour bought a house in East Memphis and spends 3 days a week here. Everyone expects the move to happen.

If it does, 500 new positions will be created in Memphis with an average salary of over $67,000. ServiceMaster was granted an $18 million PILOT if they build four new 150,000 square feet buildings in Memphis or its reserve area.

2 p.m. Bring it on! :thumbsup:

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memphis born Whistle-Stop

memphis born

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ServiceMaster's board of directors meets today and will be voting at 2 p.m. on whether to relocate to Memphis, per today's CA.

CEO Patrick Spainhour bought a house in East Memphis and spends 3 days a week here. Everyone expects the move to happen.

If it does, 500 new positions will be created in Memphis with an average salary of over $67,000. ServiceMaster was granted an $18 million PILOT if they build four new 150,000 square feet buildings in Memphis or its reserve area.

2 p.m. Bring it on! :thumbsup:

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Rardy Burg

Rardy

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I happen to work at Service Master, they already have plans in place to build 4 new buildings at Forest Hill Irene & Winchester. The company owns 7 acres there and have already started clearing out the trees and bushes on the land. They WILL RELOCATE. This is interesting because the land is right across from the proposed Forest Hill Plaza lifestyle center. I would love to shop there on my lunch hour.
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Clobber Burg

Clobber

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I happen to work at Service Master, they already have plans in place to build 4 new buildings at Forest Hill Irene & Winchester. The company owns 7 acres there and have already started clearing out the trees and bushes on the land. They WILL RELOCATE. This is interesting because the land is right across from the proposed Forest Hill Plaza lifestyle center. I would love to shop there on my lunch hour.
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AmandaHugginkiss Whistle-Stop

AmandaHugginkiss

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Impressive. It makes sense. I would put down all of the facts but don't feel like finding them. There are pretty nice rewards for a company to relocate to Memphis. Isn't Memphis in the top 10 for best city to open new businesses? IMO,You would have to be foolish to not to want to relocate or start a business in Memphis or in Tennessee for that matter.

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jrox Unincorporated Area

jrox

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It truly saddens me to hear all the negative talk about the city/within this city. Most don't have a clue but thanks to sites like this I have been educating the supposedly educated on how Memphis the city is truly doing. Most have no clue about the development going on downtown or Tunica. It is too bad!

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AmandaHugginkiss Whistle-Stop

AmandaHugginkiss

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It truly saddens me to hear all the negative talk about the city/within this city. Most don't have a clue but thanks to sites like this I have been educating the supposedly educated on how Memphis the city is truly doing. Most have no clue about the development going on downtown or Tunica. It is too bad!
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