Showing posts with label Finances. Show all posts
Showing posts with label Finances. Show all posts

Thursday, June 4, 2015

I don't know when, but at some point in recent years I developed a fascination with how cities and neighborhoods grow and, essentially, how they're built (or rebuilt). I know it has a lot to do with me having lived in Charlotte for almost a decade now, and the sizable growth I've witnessed here during that time.

So I enjoy reading the many news articles of announcements and updates on new condos, apartment buildings, office towers, hotels, shopping centers (and in many cases a combination of these things, commonly known as "mixed use") being planned and built around the city, that I come across on The Charlotte Observer and Charlotte Business Journal's websites. And, of course, that growth is mirrored (or should be mirrored) in the improvements in infrastructure, such as the final leg of Interstate 485 finally opening, the next phase of the light rail running to University City, and the continued renovations and expansions of Charlotte Douglas International Airport.

And it's the CLT airport stuff that's caused me to geek out. Seriously, since the airport announced, a month ago, the next phase of its development master plan, I've been talking to friends and colleagues about it like it's the Apple Watch or something. The $2.5 billion investment will make the airport more modern, convenient, accessible, and keep up with its crazy growth. Consider this: the airport welcomed 25 million total passengers for the year in 2004; 10 years later, in 2014, the total was 44 million.


Renderings of the planned renovations and expansions at Charlotte's airport. Credit: CLT

You can read about the planned projects, including expanding the terminal and lobby and renovating the concourses. But you'll definitely want to watch the video below, which is what fascinated me. It uses computer generation to show how, most notably, the terminal curb and roadway will be expanded and elevated, with the addition of several new lanes for vehicles dropping off and picking up passengers. And keep in mind, all of this construction will take place while the airport is in full operation, with millions of passengers coming and going each month.


Fascinating. #BarbaraWaltersVoice.


Saturday, September 27, 2014

ICYMI, earlier this week, Money magazine published its annual package of stories and rankings comprising its "Best Places to Live in America." Among the 2014 lists is the "Best Big-City Bargains," and coming in at No. 1 is Charlotte, which you likely agree with if you live here. Nos. 2-5 are Phoenix, Fort Worth, Boston, and Chicago. The Time Inc.-owned publication describes its methodology for determining the list:
To create this list of best-value big-city neighborhoods, we ranked places with over 500,000 in population on housing affordability, economic strength, home price forecasts, and livability using data from NeighborhoodScout, OnBoard Informatics, and CoreLogic. Then we looked for promising, well-priced neighborhoods in our top 10 locales.
It highlights two thriving Charlotte neighborhoods in particular: Plaza Midwood, writing, "Just 10 minutes by car from the center of Charlotte, this artsy, bike-friendly neighborhood is an interesting mix of the gritty and the pretty;" and Mountain Island Lake, "Convenient to the soon-to-be-completed I-485 beltway, Mountain Island Lake features pretty, spacious homes." I live in the less glamorous section of the Mountain Island area, but about five minutes north of me is the community Money is referring to, which really is a hidden gem in Charlotte (and maybe in five years I'll be able to afford to live there).


In addition to Best Big-City Bargains, Money, in the October 2014 issue, also profiles the 50 Best Small Cities, Best Places to Be Rich and Single, Top Earning Towns, and Best Places to Find a New Job.


Sunday, April 13, 2014

When opening a new business, particularly a brick-and-mortar store, one of the most important factors that goes (or should go) into the decision-making of the entrepreneur or corporation is the location (location, location, location, as developers say). A lot of market research and data are analyzed when new locations of franchises are being considered. So it's strategic when a franchise or chain like H&M, Chuy's, Taco Mac, or Chick-fil-A, for example, is deciding when and where it is opening in Charlotte. Among other things, it usually represents an area's population growth, and depending on the business, it might represent the affluency of that population.

But what does it mean when a new Family Dollar store opens in an area? Back in December, I was making a quick drive to the bank down the street from my house when I realized that a Family Dollar was being built. I commented on Twitter:
Over the last couple of weeks, I've had conversations with various people on topics involving socioeconomics. In a few of those conversations, we began talking about companies/stores like Walmart and Family Dollar, and in the case of Family Dollar, some interesting perspectives emerge as to the type of areas and neighborhoods the company opens stores in.

This Family Dollar is opening soon on Mt. Holly-Huntersville Road in my neighborhood.

Leon Levine opened the first Family Dollar store in Charlotte in 1959. Today, it's a publicly held, Fortune 300 company, headquartered in Matthews, with more than 8,100 stores in 46 states. It's largely viewed as a fast-growing chain, so it came as a bit of a surprise when Family Dollar announced on Thursday that it would be closing 370 stores and slowing new-store growth. This is a result of sales from the most recent quarter being down 3.8 percent. Also as part of their "immediate, strategic actions," the CEO says the company has "made a significant investment to lower prices on about 1,000 basic items." So apparently, you'll be able to buy many items at the store for even cheaper; I guess as a way to drive more customers to the stores.

Furthermore, this is how Family Dollar is described in its corporate bio:
For more than 54 years, Family Dollar has been providing value and convenience to customers in easy-to-shop neighborhood locations. Family Dollar’s mix of name brands and quality, private brand merchandise appeals to shoppers in more than 8,100 stores in rural and urban settings across 46 states. Helping families save on the items they need with everyday low prices creates a strong bond with customers, who often refer to their neighborhood store as “my Family Dollar.”

Recently, a friend told me that "You won't find a Family Dollar in Ballantyne." This goes back to the perception of the type of neighborhoods in which Family Dollar opens stores. And my friend is right; I searched the store locator on Family Dollar's website and there isn't one in Ballantyne. But according to the company's history section, where it describes how and why a young Leon Levine started Family Dollar, it says he found success opening discount stores in low to middle income neighborhoods.

If that trend continues, then does it mean that if there's a new Family Dollar store opening where you live, that your neighborhood is considered low to middle income?

This isn't at all intended to be a knock on Family Dollar as a company. I've never heard anything bad about what it's like to work for them, the way, say, we often hear complaints about Walmart. And it should be noted that the company's founder and his wife do some incredible charitable giving through the Leon Levine Foundation--their impact can be seen throughout Charlotte especially, with the tens of millions of dollars they've donated.

The reality is that a business is a brand, and brands represent things. What do you think it represents if a Family Dollar store opens in your neighborhood?


Monday, January 20, 2014

It's estimated that Americans spent about $18 billion dollars on Valentine's Day-related gifts last year. I blame the increase in spending on social media! For decades, ladies, even without ever mentioning it to their men, desired that their fellas send flowers and gifts to their jobs on Feb. 14, to the envy of their female co-workers. But now, the gifts they receive are elevated in notoriety through photos posted on Facebook, Instagram, and Twitter. So that $15 box of candy and $10 bear from CVS is no longer going to cut it, buddy. Better start stacking your dough now in anticipation of what you'll be spending in about three-and-a-half weeks. Need some financial assistance?


Provide Commerce is holding a job fair this Tuesday, January 21, 9 a.m. to 5 p.m. for seasonal employees to work in its ProFlowers and Shari's Berries Manufacturing and Distribution Center here in Charlotte (11922 General Drive, 858-677-7460). The temporary positions will be largely to keep up with Valentine's Day gift-purchasing demand. And according to the Fort Mill Times, the company is seeking to fill 1,200 local jobs. Provide Commerce is a San Diego-based company that operates popular consumer brands that include Shari's Berries, ProFlowers, RedEnvelope, and Personal Creations. The positions offer flexible schedules because the Charlotte distribution center is open 24 hours a day.



Tuesday, December 3, 2013

I don't remember if I heard of GivingTuesday last year when it launched. But now in it's second year, this national day of giving's message is all over the place--as it should be. Founded by a NYC-based nonprofit organization, GivingTuesday is intended to remind us that it is important to give during this holiday season, and it strategically takes place following what has become national shopping days (and oftentimes acts of greed): Black Friday and Cyber Monday. So today, Tuesday, December 3, is GivingTuesday.

Credit: facebook.com/GivingTuesday

This charitable campaign got a big boost this year when the United Nations Foundation joined as an official partner. Nonprofit organizations--big and small--are participating all around the country. Below I've listed a few Charlotte-based groups that would be deserving of your support, should you decide to give today. For each of these, I've either been involved with the organizations and/or know some of the key people behind them. And they run the gamut, from helping the homeless and impoverished to working with youth, education, and improving health. Donations can be given online at each of the organizations' websites.

Organizations listed in alphabetical order.

Charlotte Rescue Mission
Founded in 1938 (celebrating 75th anniversary), this organization has a long history of reaching out to the homeless and those battling addictions. Its mission is to minister the good news of Christianity to individuals caught in the crisis of poverty, hopelessness, or addictions by meeting their spiritual, physical, and emotional needs. charlotterescuemission.org

Communities In Schools of Charlotte-Mecklenburg
An affiliate of the national Communities In Schools network, the nation’s leading dropout prevention organization, its mission is to surround students with a community of support, empowering them to stay in school and achieve in life. As a result, our youth will be better equipped to find meaningful employment, lead productive, gratifying lives, and become contributing members of society. cischarlotte.org

Crisis Assistance Ministry
An independent nonprofit agency, it focuses on preventing homelessness and preserving dignity for Charlotte-Mecklenburg's working poor by providing assistance with rent, utilities, clothing, and furniture. crisisassistance.org

EmpowHERment, Inc.
Provides mentorship, talent development, and advocacy programs for girls and women throughout the Charlotte region. It started a few years ago as an annual summit, then last year became a fully developed nonprofit organization. You can support its efforts and have an enjoyable evening at EmpowHERment's First Birthday Celebration on Thursday, December 12 at UNC Charlotte Center City. Click here to buy tickets. empowherment.com

Freedom School Partners
FSP's mission is to engage, educate, and empower children to succeed in school and in life through quality, year-round educational enrichment programs. Provides quality summer Children’s Defense Fund Freedom Schools programs for students in grades K-12 throughout Charlotte’s communities. freedomschoolpartners.org

Queen City Mobile Market
Working to improve food access one neighborhood at a time. The mobile market will roll out on a mission to make sure everyone enjoys fresh produce regardless of their zip code in Charlotte and the surrounding area. qcmobilemarket.com

The Red Pump Project
A nonprofit organization that raises awareness about the impact of HIV/AIDS on women and girls through education, and open dialogue about the issues that surround sexual and reproductive health. The Fifth Annual Red Pump/Red Tie Affair takes place this Saturday, December 7 at The Hart Witzen Gallery in Charlotte. Click here to buy tickets. theredpumpproject.org

Learn more about GivingTuesday by visiting givingtuesday.org, at facebook.com/GivingTuesday, and Twitter @GivingTues | #GivingTuesday. You're also encouraged to post an #UNselfie--a photo showing where and why you gave to a charity.

UNselfies. Credit: @UTAFoundation


Wednesday, August 14, 2013

I've always liked Humpy Wheeler. Not only is he a fellow University of South Carolina alumnus (he played football for the Gamecocks in the 1950s) and motorsports legend having served as president and general manager of Charlotte Motor Speedway for decades (retired in 2008), but I most admire him because he's a straight shooter. He tells it like it is.

I've seen Humpy speak a couple of times over the years, and I've enjoyed reading articles where he's been interviewed, most often in relation to things going on within NASCAR. I had the privilege of interviewing him myself, for an article I wrote for Charlotte magazine in 2008 about Max Siegel and Dale Earnhardt Incorporated ("Can Mighty Max Save DEI?"). Humpy knows a lot about--and a lot of people within--NASCAR and the racing industry, and it looks he'll now be regularly sharing his knowledge and opinions with us.

Humpy Wheeler. Credit: YouTube

He launched a YouTube channel (youtube.com/thehumpyshow) last week and has since posted a handful of videos. Each video, so far, finds him opining on NASCAR--the sport, the drivers, the tracks, the fans. One video in particular is starting to get people talking; it's titled: "Humpy's Hot Topic: What's Wrong With NASCAR Racing." 


What's wrong with NASCAR racing? He says it's a common discussion "in bar rooms and pubs" and that he's "thought long and hard about that. I think we messed it up a little, folks. I think that we got too fancy. I think as it soared back in the '90s, a lot of people wanted to change it, didn't like the way it was. They thought it was too country or too unsophisticated or whatever. And those people were dead wrong."

If you're a fan of NASCAR, or sports in general, you'll appreciate the gems Humpy is dropping in this 18-minute video. He draws parallels to other professional sports.

Some of Humpy's sentiments are similar to what I heard firsthand when I interviewed NASCAR team owner Felix Sabates recently. That article will appear in the September/October issue of Where Charlotte, hitting stands in a couple of weeks. Felix is another straight shooter, sports executive legend, and successful businessman. I might look for a way to share portions of my interview with him that didn't make it into the Where article.

NASCAR fans should subscribe to Humpy's YouTube channel, and follow him on Twitter @HumpyWheeler. I'm curious to see whether anyone from the league office will respond to the bold statements he makes in his vlog.

In other NASCAR-Charlotte news, the SPEED channel will officially be replaced by the launch of FOX Sports 1 on Saturday. This move was announced back in January, but now that the transition is just days away, we're learning how FS1 will compete with ESPN, how much NASCAR coverage will be involved, what cable and satellite providers are carrying the new network, and what local jobs might be lost.


Wednesday, July 10, 2013

The grocery store/supermarket, er, market in Charlotte has been heating up over the past year. You've been keeping up with the news, right?

Publix is moving into the area with three new stores either planned or currently under construction--South End, Ballantyne, and Cornelius--and it's opening a Charlotte division headquarters. After years of locals wishing, Whole Foods finally opened its first store here last August, in SouthPark. Salisbury-based Food Lion, which operates 1,100 stores in 10 states, has been making all kinds of changes over the past year, trying to keep up with the competition. And our other locally-based supermarket chain, Harris Teeter, is the talk of the town (and business world) after news yesterday that it's being acquired by Kroger. And lastly, as it does to almost every retail sector, Walmart continues to be a major player with its grocery stores.

We all have to eat to live, but who would've thought the market would become so competitive? (#1stWorldProblems.) But amid all of the grand announcements being made and big-box grocery stores opening, there are a few smaller stores that have launched--first in Charlotte at that--over the past year that say a lot about our grocery shopping preferences and the city as a desirable market.

201central


Opened: October 2012 (two locations)
The Appeal: Fine wines, domestic and imported beers, specialty foods; café seating area, in-store wine consultants; educational classes focused on wine, beer, and food pairings; a beer room, and a walk-in humidor.
Company: A division of Harris Teeter.
Address: 13108 Eastfield Rd., Huntersville, 704-875-2892, 5939; Weddington-Monroe Rd., Wesley Chapel, 704-821-2686, 201central.com.

The Baby Grocery Store


Opened: November 2012
The Appeal: Parents shopping for babies for items such as all-natural, organic, and non-GMO food products; diapers, wipes, and environmentally-friendly household items; staff available to answer questions about products and choices like making baby food, cloth diapering, and baby wearing.
Company: After operating a mall kiosk for a year, Charlotte entrepreneur Darren Gann opened the first brick and mortar location in Charlotte, with future plans to expand into other states.
Address: 10225 Park Rd., Charlotte, 704-543-8635, thebabygrocerystore.com.

Lettuce Carry


Opened: March 2012
The Appeal: Offers more than 15,000 items including fresh food (local and organic), household items, health and beauty supplies, tobacco, beer, and wine; delivered to your door at no additional charge in a refrigerated truck.
Company: Privately owned; delivers to most of the Charlotte region including all of Mecklenburg County, Concord, Mooresville, Gastonia, Fort Mill, Rock Hill, and Monroe.
Contact: 704-962-3019, lettucecarry.com.


Thursday, July 4, 2013

Read About It: Hot Cars On the Lake

Posted by Jarvis Holliday On 7/04/2013 No comments
I wrote a feature for the July 2013 issue of Lake Norman Magazine, "Get Your Motor Running," that focuses on car dealers and shops in the lake area that sell/build exotic, luxury, and classic cars. We're talking everything from vintage cars from the 1930s to late-model sports cars.


While conducting interviews and doing research for this story, I learned that selling cars on consignment is big business, and that people search all over the world for specific cars. Because of the Internet, car dealers like the ones on Lake Norman are able to sell and ship cars to buyers from anywhere. Yes, a couple of the dealers told me they have people--from the West Coast to the Middle East--buy cars from them online without ever setting foot on the car lot or seeing the cars in person. That's why many of the dealers place detailed info, multiple photos, and sometimes even video of each of these exotic and luxury cars, to give potential buyers a good idea of the quality and appeal of the vehicle.

One of the Lake Norman dealers told me he sold two of the Range Rover Autobiography Ultimate Edition SUVs to a single buyer for $250,000 each. Rolling in it!

The July issue of Lake Norman Magazine is online and on newsstands now.


Monday, June 17, 2013

The DNC's $54K Blackberry and $30K iPhone

Posted by Jarvis Holliday On 6/17/2013 No comments
The U.S. Department of Justice's Bureau of Justice Assistance released a report last Tuesday that analyzed the work of Charlotte-Mecklenburg Police Department during last year's Democratic National Convention. The 67-page report is titled, "Command, Control, and Coordination: A Quick-Look Analysis of the Charlotte-Mecklenburg Police Department’s Operations during the 2012 Democratic National Convention," and while it highlights what CMPD did right and where the department failed, for the most part the feds believe our boys in blue did a good job. It's estimated that as many as 75,000 people visited Charlotte that week for the convention, and there were no major incidents reported and only 25 people were arrested--a great feat considering the number of protesters and the concern that was expressed by local and federal officials during the months leading up to it (read here and here).

Credit: bja.gov

The same day the DOJ released its report, CMPD released one detailing how it spent the $50 million federal grant (click here for the item-by-item list of expenses) it received to provide security during the DNC (if you'll recall, Tampa received the same grant for Republican National Convention security). Shortly after reviewing the report, several media outlets published articles that focused on some of the billed items, ranging from the $1.76 million spent on a wireless video camera system to the $450 shelled out for horse manure removal.

Then by the end of last week, media became intrigued by the publishing of a police report that was filed last month with CMPD by the Democratic National Convention Host Committee for lost and stolen electronics. Most of the 41 items listed on the nine-page report are things like mobile phones, laptops, and iPads. That's understandable considering the thousands of special personnel who worked during the convention (most of them brought in from out of town) and the thousands of pieces of equipment they were sharing. It's inevitable that some items would go missing.

But where the DNC has some explaining to do is why a reportedly stolen 13-inch MacBook Pro laptop is listed on the report as being valued at $75,537, an iPhone at $30,503, and a lost Blackberry at $54,250. The values of several items are grossly inflated on the report, including many laptops listed above $25,000, and to the extent that the 41 missing electronics are totaled at $465,142.97.

Maybe each of those iPads, MacBooks, and the like had special diamond-encrusted presidential seals on them to commemorate the re-nomination of President Barack Obama?

So far, I don't believe representatives from either the DNC or CMPD have commented on the missing items report.

Bling-bling, ring-ring. Credit: techflyover.org


Tuesday, April 16, 2013

Dale Jr.'s Making Chips (Potato and Money)

Posted by Jarvis Holliday On 4/16/2013 No comments
There are several slang terms that represent money and/or a person who's making it. Many of them use food references, like: eatin', caked up, dough, cheese/cheddar, bread, and chips. Well, there aren't too many people out here today making chips like Dale Earnhardt Jr. Last month, Forbes ranked him as the highest-paid NASCAR driver for the fifth-consecutive year. And you don't even have to know much about NASCAR to know that Dale Jr. makes a lot of money away from the racetrack. You likely see the Mooresville resident frequently starring in national TV commercials endorsing products and companies, or you see products bearing his name in stores. The latter is what happened to me tonight.

Credit: My Windows Phone

I made a trip to Bi-Lo tonight and stumbled upon a display case of "Dale Jr Foods" potato chips. I had no idea Dale Jr. had gotten into the snack game. Once I got home and did a little Googling, I learned that this food venture with KLN Family Brands, a Minnesota-based company, was announced in January. And that the first products, to have begun hitting stores in February or March, would be four flavors of potato chips: Crispy Original, Carolina Barbecue, Creole & Green Onion, and Zesty Jalapeno.

Interestingly enough, tonight I saw three of those four in the store, but the Carolina Barbecue was missing. My assumption is that's the flavor Charlotteans have been snatching up first, out of curiosity if nothing else. Curiosity is what led me to buy two bags--one each of the original and jalapeno. I haven't tasted them yet, though. 

NASCAR drivers' names and faces on products is common. Heck, their race cars and driving suits are the opposite with brand logos all over them, so sponsorships and endorsements literally fund the sport. But Dale Jr. appears to be taking it a step further because "Dale Jr Foods" sounds like an entire division of a company in which we will eventually see other food products. But hey, if his Hendrick Motorsports teammate Jeff Gordon can successfully sell wine, then why not?

UPDATE 4/18/13: I tried Dale Jr.'s potato chips today, both the Crispy Original and Zesty Jalapeno flavors. They kind of remind me of Wise brand potato chips, but Dale Jr.'s are crispier/crunchier, which is very important to me in a chip. I was particularly impressed with the jalapeno flavor. I'm interested in tasting the Carolina Barbecue now. The Dale Jr. name is what will lead people to giving the chips a shot, but I can't say that I plan on breaking away from my regimen of Lay's, Utz, and Cape Cod.

Wednesday, April 10, 2013

I have three meetings today: the first was a lunch meeting in South End, followed by a project meeting in Uptown, and this evening I have another meeting in South End (I'm writing this blog post during my downtime in between). So I figured I'd take the light rail from South End to Uptown and then back again once I'm done for the day and ready to go home. Riding the LYNX Blue Line today gave me the first opportunity to see one of the liquor ads that stirred up much controversy when the plans were announced last year.

If you'll recall, last August, The Charlotte Observer reported that for the first time ever, the Charlotte Area Transit System (CATS) would begin selling alcohol--beer and liquor--advertising on the sides of city buses and trains to generate much-needed revenue to offset rising operating costs. This infuriated Charlotte City Council, who said they weren't aware of the decision and they expressed concern about children and recovering addicts who would see the ads. By late October, a compromise had been reached to begin selling the alcohol ads. I'm not sure when the first liquor ad appeared on the light rail, but I saw one for the first time this afternoon for Baileys.

Credit: My Windows Phone

"Your Chariot Awaits, Madame," reads the large headline on the Baileys ad that covers the light rail car I boarded. I don't have a problem with it, and, in fact, I feel that the accompanying "Enjoy Baileys Responsibly" tagline could help encourage people to use public transportation rather than driving after leaving bars and nightclubs if they've had too much to drink.

And, this particular ad looks cool. Big-city like, even (and you know how much Charlotte desires to be viewed as a big city). What are your thoughts on the whole alcohol-ads-on-public-transit thing?

By the way, I realize this is the second liquor-related post I've written in as many weeks (here's the other), but there's no cause concern (Mom).

Thursday, February 14, 2013

After a year of rumors and speculation, today US Airways and American Airlines officially announced their plans to merge. The combined company will keep the American Airlines name, and will become the largest airline in the world. They've created a website for you to track developments and news: newamericanarriving.com.


The new American Airlines has also created a couple of web videos to mark this milestone.



Charlotteans and local businesses and media have all been concerned about the prospects of this merger because of how it could potentially affect Charlotte Douglas International Airport's status as US Airways’ largest hub--US Airways operates more than 600 flights coming in and out of CLT daily, nearly 90 percent of the airport's total daily flights. The indication right now is that the merger will bring more daily flights to Charlotte, according to US Airways CEO Doug Parker.

Charlotte's business and civic leaders are, of course, concerned about how the merger will affect the city in terms of economic impact and number of jobs. But there's another thing: Charlotte is fixated, almost to the level of obsession, with being able to claim it's the headquarters city of this and that, or is the largest home to this or that (folks still haven't gotten over losing Wachovia). After the merger, the US Airways name will go away, and as for the new American Airlines, Charlotte is expected to be its second largest hub, behind only Dallas/Fort Worth International Airport (the combined company will be headquartered in Fort Worth).

All of that is fine and dandy, but to most of us there's one thing that's more important: how will the cost of fares be affected? That's something we won't know for months, maybe even years to come. As if it hasn't gotten expensive enough to fly.

Thursday, February 7, 2013

One of the most popular and top-rated commercials during this year's Super Bowl was the "So God Made a Farmer" commercial by Dodge Ram. The two-minute spot featured a voiceover from a speech delivered by legendary broadcaster Paul Harvey in 1978, and was paired with beautiful countryside photos of farms and farmers that looked like they'd been run through Instagram filters.


While that commercial may have pulled at Americans' heartstrings, it's also sparked some parodies. One of the latest is "So God Made a Banker" by Brett Arends for MarketWatch. While it isn't set to video or audio (yet), you're asked to "read in the voice of Paul Harvey."


The column features such standout lines as:
God said, “I need someone who doesn’t grow anything or make anything but who will borrow money from the public at 0% interest and then lend it back to the public at 2% or 5% or 10% and pay himself a bonus for doing so.”

So God made a banker.

God said, “And I need somebody who will tell everyone else to stand on their own two feet, but who will then run to the government for a bailout as soon as he gets into trouble — and who will then use that bailout money to help elect a Congress that will look the other way. And then pay himself another bonus.”

That verbiage got me thinking: Since God made a banker, then Charlotte must be heaven. Because this city makes (has) a lot of bankers, as the second largest banking center in the country. And I guess the intersection of Trade and Tryon streets in Uptown would be the pearly gates. And Billy Graham Parkway is, well...

Thursday, September 27, 2012

It's scary sometimes to think about how much we use our mobile phones. In fact, one day soon we should start calling them something else because the phone--in terms of actually talking on the device--is becoming less and less of what we use them for. In addition to all of the texting, web browsing, social networking, picture taking and uploading, video recording, etc. you use your smartphones for, the money is in, well, the money. I'm sure you use your phone to check your bank accounts and maybe even make payments or online purchases through the mobile web, but Bank of America is seeking to up the ante in the global market of mobile payments that's estimated to be more than $170 billion.


BofA has launched a pilot program that it's testing out only in Charlotte, in which a customer can pay at a store register by simply scanning an image with a smartphone. So, basically, instead of swiping your debit/credit card at a register (as if that's too difficult), you would have the clerk scan your phone, which you likely would be holding in your hand anyway (oh no, but that would mean you wouldn't be able to rudely talk on your phone while in the checkout line).

Bank of America has partnered with a Wellesley, Massachusetts-based startup company called Paydiant, which specializes in mobile-wallet technology. Only BofA employees are participating in the three-month trial period, and five Charlotte merchants/retailers are being used. You can read more about the pilot program in this Reuters article.

Tuesday, June 19, 2012

Forbes has published its annual list of The World's 100 Highest-Paid Athletes, ranking sports figures based on the money they've raked in over the last 12 months, between June 2011 and June 2012. Boxers take the top two spots: Floyd Mayweather Jr. at No. 1 with $85 million and the guy people have been wanting him to fight for two years now, Manny Pacquiao, at No. 2 with $62 million. Rounding out the top five are Tiger Woods at No. 3 with $59.4 million, LeBron James at No. 4 with $53 million, and Roger Federer at No. 5 at $52.7 million.

Forbes explains that the earning figures it compiled include salaries, bonuses, prize money, appearance fees, licensing, and endorsement income. So there are a number of ways athletes become filthy rich. All of Mayweather's $85 mil came from what he made in the ring, considering he owns his own fight promotion company, while $45 mil of Federer's $52.7 mil came from endorsements, so he made most of his fortune away from the court.

The business magazine also points out that 30 NFL players made the list of 100 highest-paid athletes, which is more than any other sport, but an anomaly this year because many NFL players, it reports, had bonuses delayed until the summer of 2011 that normally would have been paid in March due to the NFL lockout. Plus, several players had their 2012 salaries converted into signing bonuses and paid out in March to alleviate team’s salary cap issues. As a result, of those high-earning NFLers, four are Carolina Panthers: defensive end Charles Johnson at No. 15 with $34.4 million, linebacker Jon Beason at No. 56 with $21.4 million, running back DeAngelo Williams at No. 66 with $19.9 million, and center Ryan Kalil at No. 71 with $19.4 million (the NFL's highest paid center).

Charles Johnson, photographed with a kid at his football camp last week, is the highest paid athlete in Charlotte over the past year and No. 15 in the world. Credit: @randywattson

Also in relation to Charlotte, there are four NASCAR drivers on the list who call this area home. Dale Earnhardt Jr. at No. 23 with $28.2 million (making him NASCAR's top-earning driver thanks largely to $15 million in endorsements), Jeff Gordon at No. 42 with $23.6 million ($10 million in endorsements), Tony Stewart at No. 47 with $22.3 million ($7 million in endorsements), and Jimmie Johnson at No. 53 with $21.5 million ($7 million in endorsements). It's also worth noting that three of these four drivers, with the exception of Stewart, are a part of the Hendrick Motorsports team.

So, there are a total of eight Charlotte-area athletes on the list via the Panthers and NASCAR (but no Charlotte Bobcats). As I often say, there's a lot of money in this town.

Tuesday, May 29, 2012

The U.S. Chamber of Commerce and RecruitMilitary are presenting the Hiring Our Heroes veteran job fair and opportunity expo on Thursday, June 7, 11 a.m. to 3 p.m. at Charlotte Motor Speedway (in the ballroom of The Speedway Club, 5555 Concord Parkway South, Concord). This is a free event for military veterans, including personnel who are transitioning from active duty to civilian life, veterans who already have civilian work experience, members of the National Guard and reserves, and their spouses.


So far, 46 exhibitors and hiring companies have signed on to participate, including Verizon Communications, Bank of America / Merrill Lynch, Kellogg, Chiquita Brands, The Home Depot, Wells Fargo, Convergys, Ettain Group, State Farm, Lash Group, Oracle, and many more. Click here for more details and to register to attend. You can also see what people are saying about RecruitMilitary, the military-to-civilian recruiting firm putting on this job fair, by visiting their Facebook page, www.facebook.com/recruitmilitary.

Saturday, May 26, 2012

Throughout the NBA playoffs over the past month, I've seen this ESPN commercial several times, about an ordinary man who happens to be named Michael Jordan. The 30-second commercial shows him in several situations where people have his name in reservations or orders--restaurant host, pizza delivery guy, car service, etc.--and expect the basketball legend to show up, only to display their disappointment when it's a middle-aged white guy.


Then this week, I saw the Michael Jordan in a surprising TV commercial. The NBA Hall of Famer and Charlotte Bobcats owner appears in a new commercial for Presbyterian Orthopaedic Hospital, where he seems to want to be a surgeon (it's actually quite humorous). It was surprising because I'd never seen Jordan in any ad campaigns for local companies before. But upon some Googling, I learned, according to Charlotte Business Journal, it's part of a recent 10-year sponsorship agreement between the Bobcats and both Presbyterian and its Winston-Salem-based parent company, Novant Health Inc., that also includes an endorsement deal with Jordan. Reportedly, the Bobcats have a new sponsorship program called Level 23 that charges companies a premium to tie their Bobcats sponsorships to Jordan specifically. Charlotte advertising and public relations agency Luquire George Andrews created the Jordan-Presbyterian campaign.


Jordan is said to own 80 percent of the NBA franchise after buying controlling interest from Bob Johnson in 2010, so with the Bobcats' financial losses continuing to mount, it makes sense (and cents) for MJ to add his star power to the team's brand, something he'd been reluctant to do while he was a minority owner under Johnson.

Monday, May 14, 2012

After a rather public courtship by several cities last year, Chiquita Brands International, Inc. announced at the end of November that it would relocate its corporate headquarters from Cincinnati to Charlotte. The company's CEO and other executives were immediately greeted with great fanfare. Some critics, however, questioned whether the city, county, and state gave away too much in financial incentives--$24 million worth, comprised of tax credits and grants--to land the international fresh food distributor most known for its bananas. But supporters lauded the deal for the 400 jobs that were promised to be brought here.


At the time of the announcement last fall, CEO Fernando Aguirre said he expected about 200 of those jobs to be filled in Charlotte, believing that the other approximately 200 would be Cincinnati employees who accepted relocation packages. Even for the Charlotteans not hired, that's about 200 workers and their families relocating here, buying homes, paying taxes, and contributing to the local economy in other ways.

As Chiquita prepares its move to the NASCAR Plaza office tower in Uptown, it currently has about 60 jobs posted for positions in Charlotte, based on a search I did this morning. Those open jobs are in several departments, including marketing, customer service, financial planning, food safety, project engineering, business development, transportation, and more. You can find out more about jobs at Chiquita by visiting www.chiquita.com/careers.aspx.

Chiquita employs more than 21,000 people worldwide, with operations in nearly 70 countries. It isn't all fruitful for the company, though. Last week, Chiquita released its first quarter earnings for 2012, reporting a significant loss.

Thursday, April 26, 2012

Charlotte Metro Credit Union is celebrating its 50th anniversary. Founded in 1962, it now has eight branches in the Charlotte area. It appears to me that business is good for CMCU, as it is likely experiencing some of the resurgence that many credit unions and small, local banks around the country have ever since the "big banks" helped cause the financial meltdown a few years ago, and as consumers have grown increasingly frustrated with the practices and fees by some of the large institutions. So as CMCU markets the benefits of its services and touts its 50 years of serving Charlotte, it has been doing so with a bit of an edge.

A TV commercial CMCU first aired in the local market on NBC during the Super Bowl took shots at the big banks, which, as you know, have a major presence in Charlotte. "Apparently there's no limit to what big banks will do for profits," says the voiceover as the commercial shows, what is presumed to be, a banker going around sucking money out of people's pockets with a vacuum. In this, as in several of CMCU's advertisements, it ends with the slogan "like a bank...only better."

A couple of days ago I came across the ad below on charlotteobserver.com, in which the square web ad reads: "Fidel Castro started something in 1962. So did Charlotte Metro Credit Union. Celebrating 50 years." I was like, "What, Castro?" Because the first thing that came to mind was the controversy stirred up recently by Miami Marlins manager Ozzie Guillén after his comments about Castro, which made it clear how it can be risky to associate yourself in any way with the polarizing Cuban leader.


I'm assuming the "Fidel Castro started something in 1962" line in the ad is referring to the Cuban Missile Crisis. Putting my Don Draper hat on for a minute (my new addiction to Mad Men manages to creep up often in my conversations), here's why the ad doesn't work. 1) Until I Googled, I didn't know what Castro did in 1962. Yes, I'm knowledgeable of the Cuban Missile Crisis, but the date it occurred isn't infamous like 9/11. 2) When you see the web ad as a solo piece of promotion for the bank, it makes you question the association with Castro. It wasn't until I did a little digging that I came across a second ad, that uses Gregory Peck, that I realized it's part of a series (see that ad below). "Gregory Peck defended something in 1962," it reads, referring to the late actor's portrayal of Atticus Finch in To Kill a Mockingbird. Again, it takes too much work for the consumer. I appreciate the cleverness of it, but the campaign falls short without a reveal--the ads should link to a promotion that gives more depth to the campaign--sort of like Google Doodles; instead, when I clicked on them they simply took me to the bank's homepage.


So, in short, the Castro ad doesn't work. I am, however, more fond of this 30-second commercial about CMCU's 50th anniversary. It shows quick glimpses of several historical figures and important moments from the 1960s, including John F. Kennedy, Jackie Robinson, Marilyn Monroe, a space shuttle launching, as well as a shot of Castro, a news clip of "The Cuban Crisis," and a marquee of Gregory Peck and To Kill a Mockingbird. The TV spot works because you're given the full context right away.


Tuesday, March 13, 2012

Rumors and speculation of a potential merger between US Airways and American Airlines have been running rampant over the last couple of months. It's an important topic locally because Charlotte Douglas International Airport is US Airways' largest hub, and if US would to merge with American, which also flies out of CLT, there are concerns this could mean fewer flights and higher prices.


But it's hard to tell who's on first. In a January Charlotte Observer story, US Airways' CEO said his company is exploring a merger with American. But a week later, the Observer reported American's CEO essentially saying don't hold your breath. Then, from outside analysts there's been tons of speculation. The most recent fuel came when DomainNameWire.com uncovered Sunday that US Airways had purchased a bunch of domain names like usairways-american.com and american-usairways.com that seem to indicate plans for a merger. The Associated Press confirmed the domain purchases today, after speaking with a US Airways rep who said the company bought the domain names to prevent anyone else from buying them. A spokesman for American said his airline knew nothing about the domain names.

So, the merger might never happen, and might not actually be pursued much by either party (or perhaps not by one side). In the video below, Marek Fuchs, from TheStreet, breaks down how such rumors run wild, thanks largely to the media.


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