Business Management

Business leaders react to mayor”s departure.
Memphis Mayor Willie Herenton”s resignation just a few months after the municipal elections is giving business leaders reason for hope.

‘I can”t help but be optimistic,’ says Bob Loeb, principal of Loeb Properties Inc.

Though it”s not clear who Memphis” next mayor would be, ‘a new vision, new vigor would be good for the city,’ he said.

If the move is a prelude to city and county consolidation, it”s something the community should consider, Loeb said.

‘A functional consolidation, department by department, is worth exploring with a piecemeal approach,’ he said. ‘Construction code enforcement was consolidated more than 20 years ago. It helped efficiency and saved money. It could possibly help municipalities become more efficient.’

Dick Leike, president of Crye-Leike, Realtors, believes the move will have a positive effect on the business environment and the community as a whole.