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Large or small, business decisions shaped by all manner of technology

Brent Byers remembers the old days, when hardware store management counted nuts and bolts and sometimes had to judge visually whether items needed to be re-ordered.
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Cyndie Mynatt buying Cadillac, Chevy dealerships

Cyndie Mynatt, one of the most influential auto dealers in North Carolina, will purchase the Chevrolet and Cadillac stores in Concord owned by her brother Richard for an undisclosed amount.
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Sharing costs of development:
Who pays for what when?
Mixed-use projects likely
to be trend of the future
A4 plans to be leading
financial service provider
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April 2008
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Local Business News

Heritage House Fabrics building HQ in Concord

May 13 - Concord: Heritage House Fabrics has purchased 5.56 acres in the International Business Park at Concord to expand current operations and satisfy the increasing need for space. Founded in 2000, the imports fabrics from countries including Turkey, India, China and Israel and resells them in the U.S. to the home furnishing, hospitality, and healthcare industries. The company, which employ 31 people, plans to build a 50,000 square-foot office, and warehouse with 35-foot ceilings. The company hopes to break ground in July and move in by the end of 2008 or early 2009. The new ceiling heights will allow the company to more than quadruple its storage capacity. Construction management is being handled by the Staubauch Co. A contractor will be selected next month, said Tony Hilb, CEO of Heirtage House.


Joe Moose receives Pharmacists' award

May 12 -Mt. Pleasant: Joe Moose, one of the owners of the 125-year-old Moose Pharmacy chain in Cabarrus County, has received the Community Care Pharmacist of the Year Award from the North Carolina Association of Pharmacists.


Mooresville-south Iredell selects new EDC director

May 9 - Mooresville: The Mooresville-South Iredell Economic Development has hired Russell Rogerson to replace the ousted Melanie O'Connell Underwood, who was highly regarded for bringing new industry to the area. Rogerson was recruited from GreaterFindlayInc. since 2006. GFI is a private, non-profit organization that combined the Community Development Foundation, the Chamber of Commerce and the Convention & Visitors' Bureau. GFI placed sixth in the nation for Site Selection Magazine's Micropolitan Communities. The corporation also has been in the top 20 in the Site Selection ranking for the past 10 years. M-SI officials said Rogerson helped close an average of six projects a year with an average investment of $50 million.


Aquesta doubles assets from year-ago levels

May 7 - Cornelius: Aquesta Bank assets at the end of the first quarter reached $130.2 million, up from $61.5 million at March 31 of last year. The bank incurred an operating loss of approximately $340,000 during the first quarter compared to a loss of $263,000 for the first quarter of 2007. This quarterly loss included a loan loss provision of $207,000 for 2008 compared to a loan loss provision of $147,000 for the first quarter of 2007. The increase in the provision for loan losses is in line with the higher loan portfolio growth generated in the 2008 quarter. Aquesta's net interest income improved during the quarter. Aquesta was launched in August of 2006 at the height of the interest rate environment, which meant it focused much of its initial lending activity in generating fixed rate owner occupied commercial loans. Net interest income improved in the first quarter of 2008 to $920,000 from $539,000 in the same quarter of 2007. The shareholder meeting will be 7 p.m. May 20 at The Peninsula Club.


Cornerstone Financial refurbishing offices

May 5 - Cornelius: Cornerstone Financial, a financial planning and wealth management firm, plans to expand into space it had formerly leased out and undertake a thorough remodeling. The business has recently added two people, including a new advisor and a staff person. Andrew Smith, senior partner, said the firm will spend on the order of $250,000 to transform the 1970s-era dwelling into something more like Class A office space. Architect Roger Layman will handle the design which features stacked stone and stucco.


Carolina Rustica opening in 3,500 s.f. showroom

May 1 - Concord: Carolina Rustica, a home accessories internet retailer, will open a retail showroom in the Gibson Mill on McGill Road in Concord. The 3,500 square-foot-space will feature Carolina Rustica's lines of furniture, lighting and kitchen accents. In 2007, 90 percent of the store's sales were generated online and Sexton is hoping that will change with the expanded retail store operation. "Our goal is to create a space that is an extension of our website where customers can come and see the depth and assortment of our product lines," says Richard Sexton, president of Carolina Rustica. Florida, Texas, California and New York accounting for the highest online volume. The store has been successful expanding its customer base online marketing primarily through Google Adwords with its selection of 3,000 key words and phrases to attract customers to its web site, www.carolinarustica.com.


Banking & Finance

Bob James views intersection of Fifth Third and First

Starting the second week in May, First Charter branches will get two sets of new signs.
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Blue Harbor Bank sets sail with high-rate account

The CEO of Blue Harbor Bank picked the heart of new Mooresville-Morrison Plantation, where household incomes continue to soar, making it the wealth capital of Iredell County.<<
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Despite concerns, local banks say business loans available

In an analysis of the regional economy, the Federal Reserve Bank of Richmond pointed out that:

"District loan officers reported that lending activity grew at a slower pace in recent weeks. Concerns about a slowing economy and diminished corporate profits contributed to more cautious lending by commercial loan officers.
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Economic Development

Cornelius turns jaundiced eye to Lake EDC

More than five years after it was created by the three towns of North Mecklenburg, the Lake Norman Economic Development Corp. is looking for its second region-wide success.
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Opinion

Smith cited for $4 million pay, but Lewis got $97 million

I was reading about the Bank of America's CEO, Ken Lewis, and how he got paid $96.9 million to run the big financial institution.
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Retooling our economic future
Entrepreneur

Huntersville entrepreneur cleans up with innovative franchise concept

Paul Dorsey sees opportunities where others don't. After 10 years in sales and business development for Detroit-based commercial cleaning franchisor Jantize® America, Dorsey had a better idea.
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Make no mistake, Davidson mom successfully launches board game

Aimee Symington's new board game, "Blunders," which she launched at the New York International Toy Fair in February, has been recognized by one of the leading toy industry publications as a top new product for 2008.
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DeMauro: Boat time shares mean good times, all the time

It's sort of a like a country club. Since most people can't have an 18-hole course on their property, it makes a lot of sense to split the cost up among many members.
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Walling Data founder skipped college to build multi-million dollar company
Paramount propels growth
with second location
Growth with a hitch: Golden Gait
looks down the road to $30 million
New PRstore at Lake Norman
makes marketing a commodity
Cool comfort: Ice cream shop
eyeing profits, expansion
Press for success
Hot Properties

Hot Properties: Staging, updates and neutral decors are 'a must' to compete in crowded market

With homes taking longer to sell, and more competition coming onto the market every day, Realtors are saying a house has to really stand out to make it sell.
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Cornelius: The Million-dollar house next door

How Cornelius, which only 25 years ago was a cozy mix of farms and older housing stock got to the point of a mini Beverly Hills has everything to do with the lake, our proximity to Charlotte and Charlotte-Douglas International Airport. We haven't seen anything yet.
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No end in sight for luxury housing boom

Chemical-free saltwater pools. Master bathrooms will dual saunas. Kitchens with two dishwashers. Integrated computer systems for controlling entertainment, lighting and sprinkler systems.
These are some of the latest trends in luxury appointments, as high-end living strives to stay on the cutting edge.
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Real Estate Interview: Pat Riley
Commercial Real Estate

Century-old real estate company opens first satellite office

It took 109 years for Charlotte's oldest real estate company to open a satellite office and when they did, they picked the Golden Crescent. Mooresville, to be exact.
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LKN brokers expand despite signs of slow down
Golden Crescent architects riding
high on new project demand
New building in Cornelius finds
saving environment is not easy
Calendars
Cabarrus County
Lake Norman
Mooresville / South Iredell
University City
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