Business

Litigation funding violates usury laws, appeals court rules

Jay Reddick — Fri, 05 Sep 2008 03:00:00 -0400

When is a loan not a loan? That depends on how you define “loan.”

The simple definition could bring big changes for dozens of companies that give money to personal injury victims who need cash while they’re suing for damages.

Opponents contend these litigation-funding companies are lenders that charge high interest rates — as much as 100 percent a year. The companies contend they are investors who put their money at risk and are entitled to big rewards.

New event space in Greensboro unveiled

mfuchs — Thu, 04 Sep 2008 15:38:32 -0400

GREENSBORO - Advertising executive Allen Broach unveiled on Thursday a new event space in downtown Greensboro that feels more like New York than North Carolina.

He calls it Studio B, a two-level spot off South Elm with polished rails, bistro tables and 17-foot ceilings with exposed steel beams. It'll join two other event spaces within a few blocks of one another and adds another dimension to the city's emerging downtown.

And that dimension? Big-city hip. Definitely big-city hip.

Retailers slash prices, but at what cost?

mfuchs — Thu, 04 Sep 2008 13:32:05 -0400

NEW YORK (AP) - In a bid to pull hesitant shoppers into their stores, retailers are slashing prices on everything from jeans to dinnerware. But those fat discounts will likely come at a big cost for the companies.

At teen retailer American Eagle Outfitters Inc., shoppers who buy jeans get a second pair at half off. Jewelry chain Zale Corp. is offering an extra 20 percent off on a slew of items like gold earrings that were already slashed up to 70 percent. And Pottery Barn has discounts of up to 75 percent.

Many U.S. retailers report sluggish August sales

mfuchs — Thu, 04 Sep 2008 13:35:52 -0400

NEW YORK (AP) - Many retailers struggled with a sluggish back-to-school season, though Wal-Mart posted higher August sales Thursday as Americans focused on buying essentials amid worries about high gas and food prices.

Update: Pottery museum board member won't resign

mfuchs — Thu, 04 Sep 2008 12:46:36 -0400

RALEIGH (AP) — The county commissioner who urged his panel not to give $25,000 to a struggling pottery museum in North Carolina said he will remain on the museum board.

Randolph County Commissioner Phil Kemp said Thursday he still supports the North Carolina Pottery Center and believes it's a good organization.

Earlier this week, Kemp told the Courier-Tribune of Asheboro that the center's board had been less than civil in its dealings with the county.

Founders shocked Ellyn firm has closed

Holly Lux — Thu, 04 Sep 2008 03:00:00 -0400

GREENSBORO — The calls began Monday. “Labor Day, ironically,” said Ellyn Steinhorn.

One by one, former employees of Catering by Ellyn called Steinhorn to tell her that the business she and her husband, Jerry, started 22 years ago — and sold last year — had closed.

Ellyn Steinhorn couldn’t believe it.

“We had no idea,” Steinhorn said Wednesday. “(We felt) every emotion you can think of. Shocked. Freaked out. ... When it all came to be true, (we felt) very sad. It was almost like losing a child.”

Clients felt at a loss as well.

Rowe: Art Attack! It’ll be pretty cool

Holly Lux — Thu, 04 Sep 2008 03:00:00 -0400

GREENSBORO — Maybe you’ve seen her.

She’s 15 feet tall, as willowy as a spiral of smoke, with steel rebar as her skeleton and steel metal trimmings for her skin, hair and legs.

And appropriately enough, she now stands at the spot known to some of us as the Whiskey District and Greensbo-hemia. But mostly, we call it The Corner, the intersection of Walker and Elam, a place where you’ll see anything — if you hang long enough.

High Point University gets former industrial facility as gift

mgrossman — Wed, 03 Sep 2008 16:44:07 -0400

HIGH POINT - High Point University recently received a gift of light industrial real estate in support of the School of Education from L. Paul Brayton, president of Paul Brayton Designs in High Point and a member of the university's Board of Trustees.

The property includes one building at 265 Swathmore Ave. in High Point with a total space of 76,800 square feet. For many years it was an industrial facility for Brayton International, an office furniture company. The real estate is valued at $2.3 million.

Deluxe to close Greensboro manufacturing facility

mgrossman — Wed, 03 Sep 2008 16:39:58 -0400

Deluxe Corp. said today that it will close its Greensboro manufacturing facility in late 2009.

About 117 people work at the plant. The closure will not impact the company's call center in Greensboro, which employs about 300 people.

Deluxe also plans to close a manufacturing facility in North Wales, Pa., and a manufacturing facility and call center in Thorofare, N.J. Along with other cuts, the company is trimming 570 people.

Randolph County board: No money for pottery center

mgrossman — Wed, 03 Sep 2008 16:55:21 -0400

The Randolph County commissioners have voted not to give $25,000 to the struggling North Carolina Pottery Center in Seagrove.

The Courier-Tribune of Asheboro reported that the commissioners voted unanimously Tuesday not to give the money to the center, which is in the midst of a $100,000 fundraising drive to try to stay open. The county money was to be used for operations and maintenance.

Last week's rain good for apple crop

jnewsom — Wed, 03 Sep 2008 07:18:53 -0400

HENDERSONVILLE (AP) — Farmers say last week's rain from remnants of Tropical Storm Fay helped western North Carolina apple orchards and other crops recover from a dry summer.

Adam Pryor said Tuesday his Henderson County farm already received 6 to 7 inches of rain and standing water this week means even more water for his trees. The county is the state's largest apple producer with 150 growers and more than 6,000 acres of orchards.

Nussbaums sell an icon of city: Southern Foods

Holly Lux — Wed, 03 Sep 2008 03:00:00 -0400

GREENSBORO — Southern Foods is making more history for Greensboro.

The Nussbaum family is selling the company to a group of experienced food executives, leaving behind a substantial contribution to a local foundation and the potential for as many as 400 new employees.

When Southern Foods is sold, the Community Foundation of Greater Greensboro will receive proceeds from that sale through company stock bequeathed to it by Southern Foods founder Vic Nussbaum Jr. prior to his death in 2001. The sale is expected to close Sept. 12.

Catering by Ellyn closes after 22 years

Brenda Hiles — Wed, 03 Sep 2008 03:00:00 -0400

GREENSBORO - Catering by Ellyn, one of the city's oldest and largest caterers, has closed because of the economy, according to sources who have talked with the owner, Steve Paladino.

The abrupt closing left numerous clients searching for someone to cater their business luncheons, bar mitzvahs and bridal receptions.

Efforts to reach Paladino, who lives in Raleigh, were unsuccessful Tuesday.

The business, at 509-A S. Edgeworth St., was locked Tuesday afternoon, and a sign taped to the door read, "Sorry, We're Closed."

Update: Southern Foods making more history

mfuchs — Tue, 02 Sep 2008 15:46:10 -0400

GREENSBORO - Southern Foods Inc. is making more history for Greensboro.

The Nussbaum family is selling it to a group of experienced food executives, leaving behind a substantial contribution to a local foundation and the potential for as many as 400 new employees.

The family said that it will donate a large portion of the sale's proceeds to the Community Foundation of Greater Greensboro . The family declined to state the amount. The sale is expected to close on Sept. 12.

People like downtown, survey finds

Jayme Elrod — Tue, 02 Sep 2008 03:00:00 -0400

GREENSBORO — Ed Wolverton admits to being “unabashedly positive” about downtown.

He lives there, shops and dines there and as president and CEO of Downtown Greensboro Inc., he works there.

“(But) imagine the surprise,” he says, to learn that most Guilford County residents share his views.

A survey conducted as part of DGI’s recent retail market analysis shows that 93 percent of those who frequent the center city believe that a healthy downtown is important to Greensboro and the region.

Savvy Shopper: A vintage store in a vintage building

Brenda Hiles — Sun, 31 Aug 2008 03:00:00 -0400

Angie Besecker loves finding new life in old things, so it's fitting that her home-decorating store found a home in a building that's been around for centuries.

"I've always been drawn to nature, botanicals, that kind of design," said Besecker, who opened her shop, Dwelling, a few weeks ago. "Modern rustic seemed to fit with this 200-year-old building."

Dwelling gives new life to discarded stuff, such as recycled washtubs converted into mirrors and wine stoppers made from recycled glass door knobs.

Freightliner to lay off 675 workers in Mount Holly

mgrossman — Sat, 30 Aug 2008 13:44:41 -0400

CHARLOTTE (AP) -- Freightliner has announced it will lay off 675 workers at its Mount Holly plant.

The Charlotte Observer reported Saturday the workers won't have a job after Oct. 31. Freightliner is a heavy truck subsidiary of German automaker Daimler AG.

The layoffs reduce the plant's work force by 60 percent. They follow the plant's 478 layoffs last year and 260 layoffs in 2005.

Relief at the mall: Popular Oak Hollow store is saved

Jay Reddick — Fri, 29 Aug 2008 03:00:00 -0400

Teenagers tried on jeans and T-shirts Thursday as pop songs by Amanda Bynes and The Jonas Brothers blared on high-definition TV screens all over Steve and Barry’s at Oak Hollow Mall.

The shoppers there had reason to celebrate — they were sure the store would be empty by now.

When Steve and Barry’s announced last month that the company would declare bankruptcy, it seemed like another in a series of setbacks for Oak Hollow. The mall has seen sales decline in recent years as popular stores move out.

GTCC gets aviation grant

Brian Ewing — Thu, 28 Aug 2008 13:34:11 -0400

GTCC will beef up its offerings in aeronautics thanks to a Duke Energy grant. The school announced today it received a grant for $243,958 to establish a training program for avionics technicians.

The program will be based out of the school's facility near Piedmont Triad International Airport and should enroll its first students in fall 2009. The school anticipates training about 40 to 50 students in the program.

The school said more funding will be needed, but the grant will get the program off the ground.

Anthropologie coming to Friendly Center

Lanita Withers — Thu, 28 Aug 2008 08:59:20 -0400

Anthropologie, the hip women's boutique, is coming to Friendly Center.

The store is scheduled to move in next to the planned Williams-Sonoma. No timeline for the store's opening was announced.

Anthropologie will join a mix of new stores coming to Friendly Center and the Shops at Friendly Center, including Yankee Candle, Carter's, an AT&T Experience Store and an Oreck store.

Seven local United Way agencies combine strategies

mgrossman — Thu, 28 Aug 2008 03:00:00 -0400

GREENSBORO - Rockingham County Sheriff Sam Page pulled off his police jacket. Guilford County school board member Amos Quick took off his suit coat.

Nearly 100 others also stripped off a piece of clothing to flash white T-shirts with "Live United" on the front.

The two words make up a new United Way branding effort announced Wednesday by seven local United Way agencies.

Gas prices on decline at Triad pumps

mgrossman — Thu, 28 Aug 2008 03:00:00 -0400

GREENSBORO - Gasoline prices in the Triad have dropped nearly 50 cents a gallon since mid-July, but what happens next could depend on Gustav.

The tropical storm, which was temporarily downgraded from a hurricane Wednesday, could gain strength as it moves away from Haiti. Weather forecasters said Gustav could threaten the Gulf of Mexico, where the U.S. has a quarter of its oil installations.

Oil prices rose above $117 a barrel Wednesday amid warnings that Gustav could become a Category 2 hurricane today.

Grandmother questions $10,000 wireless bill

Ryan Seals — Wed, 27 Aug 2008 20:48:20 -0400

CHARLOTTE (AP) - A Charlotte grandmother is fighting a wireless bill of more than $10,000 that was boosted by six weeks of calls to an adult chat line.

Opal Savage told The Charlotte Observer she's not responsible for the calls. Verizon Wireless has said in correspondence to Savage that the calls were made from her phone.

Guilford leaders: good news beginning to outweigh bad

mfuchs — Wed, 27 Aug 2008 16:08:08 -0400

A decade ago, the state of the community was low, so leaders held annual luncheons to exhort and encourage each other as they weathered the economic storms in manufacturing industries.

Guilford County will be rebuilding its economy for years to come, but its leaders said Wednesday at the annual State of the Community luncheon they're thankful that good news, at least for the past year, is beginning to outweigh the bad.

Judge: Vermont can sue N.C.-based R.J. Reynolds

mgrossman — Wed, 27 Aug 2008 11:47:42 -0400

BURLINGTON, Vt. (AP) - A judge in Vermont has rejected a request from R.J. Reynolds Tobacco Co. to dismiss the state's lawsuit that challenges the tobacco giant's claim that its Eclipse cigarettes are healthier than average cigarettes.

Chittenden Superior Court Judge Dennis Pearson also rejected eight of nine other pretrial motions filed by the North Carolina-based company about what evidence and witnesses should be allowed at trial.