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Charlotte News- 2010 So far…

February 20th, 2010 Listed Under: Living Here

Duke Energy HQ Charlotte NCMost of our news is good for the economy, so I’ll start with that…

Two new major discount firms are coming to Charlotte.  Nordstrom Rack is taking over  an old Circuit City location on South Blvd- this will make ladies venture out on South Blvd I am sure!

Not to be outdone, Ollie’s Bargain outlet announced plans to open in big boxes stores on a temporary basis as Close Out stock permits. This chain store recently bought 350,000 pair of Crocs- and are selling the $30 shoes  at $9.95/pr. Stores will open in Matthews and Mooresville.

The New York Times reports fewer 4th quarter mortgage delinquencies and B of A announced that late credit card payments declined 7.35%in January.

Charlotte was the major statewide winner in the high speed train sweepstakes last month, landing a $152,000,000 to build an expanded train station in 3rd Ward, out of a total of $400m or so awarded the state to improve the rail speed between Raleigh and Charlotte.

White Water Center lenders have forgiven (written-off) 2/3’s of the $38M loan offering the center a chance at the future. This is good news. While I feel for the lenders (not really that much) I like even more the resource this provides the Charlotte Community. They make money from operations- there just wasn’t enough to pay a $38M note.  Very good.

On the bad…

the NY Attorney General has something about us Charlotte folks and can’t let the B of A matter rest. Obama administration regulators thought a fine sufficient, but he thinks it’s criminal. What are we talking about?  The shotgun wedding between Merrill Lynch and B of A , orchestrated by the Treasury Department, that Bof A may not have disclosed all the bonuses agreed to be paid… yes I know I hate bonuses too-but this is 2nd guessing after the fire. Or it is suing the good Samaritan who stops at the accident because you don’t think he did enough.  Merrill Lynch would have been dead if B of A doesn’t do the deal- dead like Lehman within 48 hours.  At the request of the Treasury, they did the deal.  Maybe they didn’t disclose everything, maybe in the rush of the weekend, they didn’t have time. To hold them criminally liable?

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Terry McDonald
I'm the owner/team leader of The McDonald Group at Wilkinson and Associates ERA Powered real estate brokers here in Charlotte NC. A transplanted Washinghtonian, my family and I came from the NYC area in 1993.
Terry McDonald
Terry McDonald

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Terry McDonald [email protected]   704-351-1519

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