The founder of AutoZone, J.R. "Pitt" Hyde discusses the founding of the auto parts retail giant as part of Memphis Business Journal's 35th anniversary In one of the very first issues of Memphis Business Journal - then known as Mid-South Business - 35 years ago, the paper took a brief look at a small company starting up inside the hugely successful Malone & Hyde company called Auto Shack. Just above an article titled, "Bell Says More Telephone Use Could Lead to Savings," Malone & Hyde chairman J.R. "Pitt" Hyde explained his enthusiasm for the new project.