From Scotty Moore’'s website:
The Hi Record label in Memphis got its start in 1957 when Ray Harris, Bill Cantrell and Quinton Claunch pitched a recording of Carl McVoy to Joe Cuoghi. McVoy was an older cousin of Jerry Lee Lewis and as a piano player had unlocked the secrets of the boogie-woogie style Jerry heard in his youth. Cuogi was the owner of Poplar Tunes on Poplar Ave. in Memphis where Elvis used to frequent and bought many of his early records. Cantrell and Claunch had formerly worked for Sun and Meteor records and Ray Harris had previously recorded, unsuccessfully, for Sun. Harris had been a coworker and friend of Bill Black's while working for Firestone and was inspired after attending one of the early Sun sessions with Elvis. With a $3.50 demo by McVoy of You are My Sunshine, Cuoghi was impressed enough to seek financing and partner with them to start the label.1
Check out the pics of Chips, Bobby E., and Reggie!