Business

Business news and information from Charlotte and the Carolinas. 

Belk Exploring Possibility Of Selling Company

Apr 3, 2015
Belk

Charlotte may be losing another one of its iconic, homegrown retailers.

Belk, a third-generation department store chain that dates to the 1880s, confirmed Thursday that it has hired an investment bank to help it explore a possible sale or other “strategic alternatives.”

Stephanie Dohmlo / TPG Sports Group

On the ABC show Shark Tank, entrepreneurs pitch their business ideas to potential investors. The investors, or sharks as they’re called, either sink the propositions, or get on board and invest. A Charlotte sports company called TPG Sports Group held their own version of the event last week called Sports Tank. Fourteen entrepreneurs from around the country pitched their ideas. 

Jason Kristufek flew to Charlotte from Lincoln, Nebraska. He’s seeking a $500,000 investment in his company.

"You’re always nervous. You’re in front of a crowd presenting. You never know what kind of questions they’re going to ask," he says.   

He’s the founder of Fanstreamm. It’s an app for groups of people to buy tickets to minor league games. It also collects data from users which they can use to market strategically and get users to buy more tickets. 

Courtesy of Duke Energy

The 2014 bonuses for five of Duke Energy’s top executives were cut by 35 percent. This is response, the company says, to last year’s coal ash spill into the Dan River. 

The City of Charlotte learned this month it would receive $14 million less in property taxes than expected next year. A redo of Mecklenburg County’s flawed 2011 revaluation suddenly found property was worth much less than previously estimated. Overall, property tax value fell by $2 billion. Commercial property makes up the largest share of the dip.


Gov. Pat McCrory

Governor Pat McCrory has now made it clear, he is against a Senate plan to redistribute sales taxes. And he’s looking for allies in that fight.

Jim Bowen / Flickr

Governor Pat McCrory has made replenishing the state’s economic incentives fund one of his top, immediate priorities. This week Republican leaders in the Senate introduced their own plan, which differs significantly from the governor’s. It sets up a debate over incentives, but also falls into a larger, intra-party fight that’s as much regional as ideological.


Ben Bradford / WFAE

For decades, trucks have dominated as the main transporter of goods inland, but trains are picking up steam, and Charlotte is part of an ambitious plan by one railway to pick up even more.


NC General Assembly

North Carolina’s new film grant program is just 72 days old. But already there are two bills aiming to change how much money the state can offer TV and movie productions in order to lure them to the state. 

Gwendolyn Glenn/WFAE

  In the early 1940s, television audiences were entertained by the antics of the cantankerous television and cartoon moonshiner "Snuffy Smith." He was known for hiding his moonshine stills in the woods and making toe-curling white corn whiskey under the cover of night.

These days, no shoot-outs are called for because with the proper permits, moonshining is legal in North Carolina. The distillers are more sophisticated, such as a trio who worked for former North Carolina Congressman Larry Kissell. They opened a new distillery in Concord this year and are turning out moonshine while keeping in touch with their political roots.

NC Office of State Budget and Management

Governor Pat McCrory released his budget plan, his proposal for how the state should spend money for the next two years. It distributes more than $45 billion from the state’s general fund, or more than $100 billion when including all the other fees, federal dollars, and various revenue streams the state uses to fund services. The final budget may look quite a bit different once state lawmakers are through, but this proposal is where the debate begins. 

Taxes

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