Community
Griffin Bros. Tires sold to Alabama firm
Aug. 15. Cornelius-based Griffin Brothers TIres, Wheels & Auto Repair has been sold to an Alabama company for an undisclosed amount. Griffin Brothers is an icon in Lake Norman business, and, with stores in 10 locations around Charlotte, the entire region as well. Birmingham-based Express Oil Change & Tire Engineers, the buyer, said Charlotte is a […]
Lake Norman hospitality gives back to community via “Voluntourism” initiative
Visit Lake Norman and its Lake Norman hotel partners have created a Voluntourism initiative to give back to the Lake Norman community and make an impact. The idea originated from VLN’s most recent Hotel Power Hour meeting where John Lynch, GM for the Hampton Inn & Suites Huntersville told the story of Angels & Sparrows […]
Small business sales: It can take years to land the right buyer
Small business mergers and acquisitions in the first half of 2016 are up nationally and in Charlotte. According to BizBuySell.com, an online brokerage service, asking prices are also up. The local data is based on 195 Charlotte-area businesses listed by BizBuySell.com during the second quarter. The median asking price for a small business was $295,000; […]
Car sales are on a roll
By Erica Batten. A downshift in auto sales since the first quarter of 2016 has led to questions about whether consumer spending is on the decline. According to a May report from Charlotte-based Wells Fargo Securities, car sales have been a crucial part of real consumer spending growth, particularly after the 2008 recession. Vehicle purchases and […]
LMG will develop ‘demonstration project’ downtown
Aug. 10. As expected, the Kannapolis City Council has picked Lansing Melbourne Group to develop a mixed-use project downtown. LMG will invest $60 million. City staff will negotiate with the company on a Master Development Agreement, which will establish more details regarding the design, finance, construction, ownership and operations of the project. The city, which […]
It’s Campbell vs. Bradford in NC District 98 election
Jane Campbell, 51, a retired career Navy officer, is taking on incumbent NC Rep. John Bradford in the District 98 race this fall. Bradford is a Republican and Campbell is officially an independent, although she will have the backing of Democratic party members. RELATED: Jane Campbell Q&A Bradford is a successful entrepreneur, who founded Park […]
LKN Marine Commission OK’s I77 toll lane application
Aug. 9. By Dave Vieser. Opponents of the I-77 toll lane project were dealt another blow this week when the Lake Norman Marine Commission approved the NCDOT’s application. The commission’s approval was needed because the interstate crosses Lake Norman; the commission works with Duke Energy on lake development as part of their Federal Energy Regulatory […]
Bonus allocation funds are not as promised, town leaders say
By Dave Vieser. Even while the I-77 toll lane project continues to face significant opposition, the NCDOT has been quick to say more than $150 million in bonus allocation funds has been earmarked for the North Mecklenburg/Iredell County region. That seems to be quite a stretch, with some Huntersville officials questioning their effectiveness in reducing congestion. […]
Decline of ‘Big Soda’ behind $355 million S&D acquisition
Aug. 4. UPDATED. By Dave Yochum. Cott Corp. is paying $355 million on a debt and cash free basis to acquire Concord-based S&D Coffee Inc., a mainstay of Cabarrus County business since 1927. The price tag is about six times “post synergy” Earnings Before Interest, Taxes, Depreciation and Amortization, otherwise known as EBITDA in corporate […]
S&D Coffee will be sold to Cott
Aug. 4. Cott Corp., one of the world’s one of the world’s largest producers of beverages on behalf of retailers, brand owners and distributors, has announced plans to buy Concord-based S&D Coffee Inc. for an undisclosed amount. UPDATE: Cott Corp. will pay $355 million on a debt and cash free basis S&D has been a mainstay of […]
