The Good News Report

[davidclt]

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.

Edited June 30, 2020 by davidclt

[videtur quam contuor]

The Knight Foundation would be good since it was created by the family that owned the papers in the profitable times.

[NYCLT]

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

[Guest]

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

[NYCLT]

1 minute ago, Tyree Ricardo said:

tomorrow at 1030am

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

[KJHburg]

the big Centene announcement is at 11.30 am this morning. 

[rancenc]

1 hour ago, KJHburg said:

the big Centene announcement is at 11.30 am this morning. 

[KJHburg]

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.  

[Matthew.Brendan]

Isn’t this a replay of the early 1900’s?

Charlotte : Distribution Hub

[videtur quam contuor]

In 1856 when the Wilmington and Weldon railroad was extended to Charlotte, now known as the North Carolina Railroad, it joined the  Charlotte and South Carolina railroad and gave Charlotte the only connection to all of South Carolina and the only NC piedmont connection thereto. One other NC connection to SC was far to the east at Fairbluff/Chadbourn. From that moment in 1856 transportation, distribution and warehousing was our economic driver. 

https://www.carolana.com/SC/Transportation/railroads/sc_railroads_1860.html

[KJHburg]

1 hour ago, Matthew.Brendan said:

Isn’t this a replay of the early 1900’s?

Charlotte : Distribution Hub

Charlotte has always been a distribution hub and it is getting bigger.   Atlanta is by far the largest in southeast but Charlotte and Memphis are in the top 3.  Amazon has 6 facilities in Meck and Cabarrus county now,  several nationwide distribution centers are for contact lenses, avocados, Bic lighters and pens, German toy soldiers and list goes on and on.

Because they are 1 story buildings in non descript business parks around the city mainly along the interstates people miss them.  But is is HUGE industry here in Charlotte that provides lots of jobs and these buildings are getting bigger and bigger if they stood straight up they would be 40-60 story buildings.    One reason Charlotte is a strong distribution center is that we are surrounded by lots of manufacturing here in the Carolinas.  As the population of the Carolinas grow which is it greatly Charlotte is well positioned to be the one place to distribute goods from and with our interstates and Intermodal yard at the airport we excel at this.  

[Nick2]

Tepper just started a new scholarship program at USC for their sport and retail management school (which is a fantastic program). $500k a year. 

It's nice to see him continually expanding his involvement across the Carolinas.

https://www.wbtv.com/2020/07/13/panthers-owner-david-tepper-wife-give-k-scholarship-program-university-south-carolina/

[XRZ.ME]

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

[kermit]

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 July 20, 2020 by kermit

[videtur quam contuor]

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.

[KJHburg]

Small UK based startup My Allergy moving HQ to Charlotte and I say it is very fitting.  As Charlotte is one of the top cities in the country where people suffer with allergies I say it is great location.  I myself suffer certain tree pollen allergies every early spring.

https://www.americaninno.com/charlotte/london-allergy-startup-relocating-hq-to-charlotte/

 

https://myallergy.com/   dealing more with food allergies however NC State is leader in finding a solution to those with peanut allergies for instance 

Edited July 21, 2020 by KJHburg

[KJHburg]

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! 

[SoDoSoPa]

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?  

[kickazzz2000]

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."

[KJHburg]

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

[CLT2014]

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 July 29, 2020 by CLT2014

[Rufus]

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?

[kermit]

54 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?

It might, or might not, be good for Charlotte. No matter how it plays out,  its bad news for Carolina Place Mall.

Edited July 29, 2020 by kermit

[navigator319]

Carolina place needs to go the way of the dinosaurs anyway. Turn the land into mixed use development like Waverly at even higher density.

[KJHburg]

7 minutes ago, kermit said:

It might, or might not, be good for Charlotte. No matter how it plays out,  it is certainly bad news for Carolina Place Mall.

Yes I think you are right.  Same mall owner in Atlanta with North Point Mall and they tore down Sears anchor are building apartments and outside restaurant park type area.  In the future I do agree I would love to see office buildings and more residential on the land and I do think that will happen.  If Jacque Penney does close at the mall that would be 2 vacant anchor spots.  

Check this out from the ATL

https://atlanta.curbed.com/2019/2/28/18243845/alpharetta-mixed-use-north-point-mall-avalon