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3 hours ago, kermit said:

This would be huge if the non-profit option happens (and can find a sustainable funding model). A way for the Observer to continue to exist as a solid local news source is incredibly important for Charlotte. Local government with zero oversight from a sound and diverse free press is gonna fall apart -- cities with strong local press are going to outperform those without over the long term.

I do wonder if the Observer is so far gone that it can't recover. Its been a really long time since I remember them breaking a local story.  And I doubt anyone under 30 has any idea that the O even exists.

I did mention a while back that it would be great if a local buyer like the Duke Endowment bought the O, this was at the end of the story:

It would be great if all of McClatchy's Carolinas papers could be acquired by the same group and recapitalized. Private capital cut McClatchy beyond the bone and into the marrow and began to hollow it out. It's an ignominious end to a previously proud collection of dead trees newspapers. The connections between Charlotte and Raleigh have helped prop up two nearly dead portfolios.

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Edited by davidclt

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Didn't see anything posted about the Centene announcement. CBJ article behind paywall so don't have the details if someone can share.

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1 minute ago, NYCLT said:

Didn't see anything posted about the Centene announcement. CBJ article behind paywall so don't have the details if someone can share.

tomorrow at 1030am

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1 minute ago, Tyree Ricardo said:

tomorrow at 1030am

Thanks! I see a number of jobs posted - looks like they are mostly IT.

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There has be a few jobs coming with this announcement of leasing of 300,000+  sq ft of warehouse space.  From the Biz Journal

""Midwest Air Technologies Inc., an Illinois-based fencing products and garden accessories provider, has signed a lease to occupy the remaining 316,900 square feet at the Charlotte Intermodal Logistics Center at 10137 Horton Road. The building is being developed by New Jersey-based real estate firm The Silverman Group and is expected to deliver in the third quarter.   Midwest Air Technologies will begin its operations at the facility, which will be used as a distribution center for the company, in September or October. It is unclear how many jobs the operation will create.""

https://www.bizjournals.com/charlotte/news/2020/07/09/silverman-group-charlotte-intermodal-logistics.html

all these big distribution centers add up around town with jobs.  

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On 7/19/2020 at 4:17 PM, XRZ.ME said:

Just heard there is a huge lithium ore mine in Kings Mountain area.....

Yea, the owner, Albemarle corp, gets the vast majority of their lithium from mines in Chile. I have talked to several (well, two) geologists about the Kings Mountain mine and all agree that it is a kinda 'blah' (technical term) deposit, although it was a very important historical source. Its a surface mine so you can view it from Google Earth (its directly adjacent to I-85 near the 74 split).  According to the experts it's not going to turn Gaston County into the Kuwait  of lithium batteries.

Catfish farming on the other hand....

Edited by kermit
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Years ago that mine was in my awareness as the source of lithium used for the anti-depressant/mood stabilizer. This was before the advent of lithium batteries as a commercial product. Lithium is used elsewhere as any mineral salt has other uses. I recalled it as the pharmaceutical as that is how I roll.

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2 hours ago, KJHburg said:

where rich millenials (under 35 and incomes over $100,000) are moving and of course NC is in the top 5.   But only half the states have a positive influx. 

https://smartasset.com/mortgage/where-rich-millennials-are-moving-2020

Where the most are leaving from?   NY of course! 

I think this would be a lot more accurate if they used cities instead of states.  For instance, Idaho is this 8th and New Jersey is 6th?  

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28 minutes ago, SoDoSoPa said:

I think this would be a lot more accurate if they used cities instead of states.  For instance, Idaho is this 8th and New Jersey is 6th?  

To be fair, if you're in NY, does it really matter if you move to Hacksensack, Flemington, Short Hills, or Morristown?  You really just move out to "Jersey."

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Not sure if this is good news for Charlotte  or not but Belks owner Sycamore Partners would convert 250 JC Penney stores into Belks.  Wonder if the Plano based JCP corporate staff would come this way to Charlotte?

""New York private equity firm Sycamore Partners reportedly has an offer on the table to buy J.C. Penney for $1.75 billion with plans to merge it with Charlotte-based Belk. Sycamore, which also owns apparel chains Talbots and The Limited, sees the deal as a way to revive the struggling Southern department store chain, sources told the New York Post.  The firm acquired Belk, which has nearly 300 locations across 16 states in the U.S., primarily in the Southeast, for about $3 billion in 2015. Belk was founded in the Charlotte area in 1888 by the Belk family.   The Post reports that Sycamore would rebrand 250 JCPenney stores to Belk stores and liquidate the rest, with Belk CEO Lisa Harper running the combined company.

https://www.bizjournals.com/charlotte/news/2020/07/29/belk-owner-reportedly-offers-175b-for-jc-penney.html

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16 minutes ago, KJHburg said:

Not sure if this is good news for Charlotte  or not but Belks owner Sycamore Partners would convert 250 JC Penney stores into Belks.  Wonder if the Plano based JCP corporate staff would come this way to Charlotte?

Could probably fire almost everyone in Plano and save a lot of money if only the Belk brand survives. Once the merger is complete, all duplicate HQ type positions in purchasing, merchandising, HR, finance, audit, marketing, operations, et. would be eliminated. My assumption is JCP is the "failed" brand and they'll ditch more of those employees in favor of Belk employees in Charlotte. The Plano team has been struggling to turn JCP around for years.

Edited by CLT2014
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I guess my only concern is the dilution of the Belk brand. Considering for much of the 2000's they had been trying to become more "upscale," what does this do with the flagship properties and the cache that was behind the deals for those stores? 

I wonder if this something where they can keep the JCP brand and convert a lot of the lower-end stores to that brand, and make Belk the more high-end brand? 

Thoughts?

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