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K-shaped recession: Low-paid workers experience prolonged joblessness
Jan. 26. NC Budget & Tax Center. Early in the COVID-19 pandemic, economists started talking about the potential for a “K-shaped” recovery, with highly-paid workers bouncing back rapidly while many of the worst-paid workers experience long periods of unemployment. Data through the end of 2020 now show those fears to have been well-founded. One-third of […]
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Jan. 26. Premier Sotheby’s International Realty, which has an office in Cornelius, surpassed $7 billion in total company sales volume for 2020, a 37 percent increase from 2019. The brokerage 25 percent more transactions, with an average sales price of $795,000. Budge Huskey, CEO of Premier Sotheby’s International, said the company remained focused on safety […]
Jan. 22. Allen Tate Cos. says its closed volume last year was $6.15 billion, a record for the 64-year-old Charlotte-based real estate company. They reported 19,949 closed transaction sides in 2020 and listed 9,589 homes for sale. “In the face of a global pandemic, we pivoted. We had clients who needed to buy and sell […]
Jan. 21. Fourth quarter 2020 net rose 72 percent at Cornelius-based Aquesta Financial compared to the fourth quarter of 2019. For the full year ended Dec. 31, 2020 net income rose 21 percent to $5.3 million (96 cents per share) compared to the $4.4 million (82 cents per share) during 2019. CEO Jim Engel said […]
Lake Norman Chrysler Dodge Jeep has filed an application to build a new showroom—complete with an off-road test drive area—on 30 acres on Chartown Road along I-77. The Cornelius-based auto dealership will invest more than $17 million in the project, according to owner Jack Salzman. Ground-breaking is tentatively scheduled for March or April of next […]
Economic development organizations from 16 Charlotte-area counties will present a business expo designed to build business connections among Charlotte region manufacturers and strengthen regional supply chains. “Of the many changes and impacts experienced this past year, there have been many instances in our Lake Norman region where local manufacturers have experienced significant supply chain disruptions,” […]
Jan. 15. Officials at the US Chamber of Commerce are welcoming President-elect Biden’s $1.9 trillion American Rescue Plan which includes a $1,400 payment per person, raising the minimum wage and a national vaccination program that includes safely opening schools. “We applaud the President-elect’s focus on vaccinations and on economic sectors and families that continue to […]
