The Bad News Report

[JRCLT]

And many companies and individuals oppose the CCP and seek to move money outside of the country into foreign investments.. All I said is the economic policies are to blame for the loss of these manufacturing facilities, you can decide for yourself if you think the geopolitical gains are worth the economic damage.

That’s is all true except…the last part is really apples to apples the only difference is the long term versus short term. In this case I would argue the long term is would be much more than the losses now. The world seems very stable right now if you’re not too informed and relatively speaking it has been rather calm. Yet, it only takes a few decisions to change that entirely. Russia is a full on invading a sovereign country right about now and I wouldn’t put it past these economic giants from taking the chance and grabbing on to power where it ever it may lead. The US wants to maintain the status quo (generally) and everyone else is tugging in every which way opposed to those views in a variety of ways. The issue with these companies isn’t their home country it’s the tie they have to the CCP that is the problem. No Chinese Corporation or firm is truly private and independent. The CCP has a string attached them and without leaving the country itself it will always be a knot around their finger. They have the power to demand access to any data, equipment, technology, etc. of any Chinese company as they see fit or face consequences on the side of home. The US is justified to be skeptical and limiting advancements to a government not easily swayed by its people. Most people want peace, and a government who can overextend their powers over its citizens is a few ruling the many in a stranglehold.

I think I’ve delved enough into this topic…point being short term economic gain should never supersede long term prosperity, national security and economic competitiveness. Otherwise it’s not in the best interests of US Citizens or the US as a whole.

[rancenc]

More bad news on the retail front.  I actually did not know these stores even still existed.  The last one I went to was back in the early part of the century and I thought they were junky and disorganized then!

https://www.charlotteobserver.com/news/business/whats-in-store/article272534920.html

[KJHburg]

Meck County must not be prosecuting DWI arrests and this is a big mistake.  So much for Vision Zero.   Look at the stats for yourself.  This makes Mecklenburg even more dangerous to drive in since most DWI offenders are repeat offenders.  Unbelievable.  

https://www.wfae.org/crime-justice/2023-03-01/as-mecklenburg-drunk-driving-deaths-rise-dwi-convictions-plummet-by-80-percent

[kermit]

^ bad news, no doubt. This does remind me of how little traffic enforcement I see from CMPD, not sure I have seen anyone get pulled over in Southend (for anything) since the start of the pandemic. [<— anecdote posing as data, but a serious concern nontheless]

Edited March 2, 2023 by kermit

[sclark]

https://www.apple.com/retail/northlakemall/

 

In my mind, this is North Lake Mall’s final nail in the coffin. 

 

Good news is that it will be relocated soon… not sure where. 

[KJHburg]

1 minute ago, sclark said:

https://www.apple.com/retail/northlakemall/

 

In my mind, this is North Lake Mall’s final nail in the coffin. 

 

Good news is that it will be relocated soon… not sure where. 

wonder if this going to Birkdale Village?  Or an intown location.  However I would think further north. 

[kermit]

Northlake has been on borrowed time for more than a decade…

[Prodev]

11 hours ago, KJHburg said:

wonder if this going to Birkdale Village?

It is. 

Edited March 2, 2023 by Prodev

[KJHburg]

6 minutes ago, Prodev said:

It is. 

Knew it with their recent updates and new leases I figured. 

[Prodev]

North American should be able to continue to cherry pick any tenant from Northlake they want or have room for. If the town of Huntersville can get out of their own way and actually approve the rezoning, Birkdale has HUGE potential. 

[CLT2014]

Apple products are premium and the $$$ is in the lake suburbs and those residents aren't going to Northlake any longer due to perception / safety issues and the quality of the stores. Apple has the data on zip codes of people that come into the store and the high dollar sales probably skew towards Huntersville, Cornelius, et... and they are ready to get out of a dying mall. The updates  at Birkdale look great so far and when the weather is nice the central park area is filled with families, couples, friends, et... enjoying a day out. Logical move to go to Birkdale for Apple.

The other store I could see leaving the Northlake area for Birkdale is REI.

Income map and Birkdale (surrounded by census tracts with $100,000+ median household income) against Northlake, surrounded to the south by census tracts with median income between $25,000 - $40,000:

Edited March 2, 2023 by CLT2014

[jednc]

Northlake messed up back in 2008-2009 when they signed leases with anyone who had a pen. Most of the stores in that mall are places to avoid, certainly not an actual draw to the mall. They should have been patient. Recessions end, and they could have been more choosy back then. Now they'd be lucky to sign anything. What a shame to ruin the place.

[15895]

Edit

Edited March 4, 2023 by AirNostrumMAD

[CLT2014]

^edit based on above edit

Edited March 4, 2023 by CLT2014

[15895]

2 hours ago, CLT2014 said:

^The data point of flawed USPS Change of Address data shows people fleeing Raleigh, Durham, Greensboro and urban zip codes across the state in favor of more suburban locations... There are many factors in why USPS data is flawed. 

The Apple store is also moving to Birkdale... So there will still be two locations in the metro.

Malls dying are also not unique to Charlotte. The Triangle has some shopping malls in precarious situations as well with high vacancies. SouthPark is certainly the most stable mall in the state right now. Cary Towne Center didn't make it for example and is meeting the wrecking ball.

This doesn't need to be an us vs Raleigh thing...

I do agree Northlake is on its last legs. While Birkdale and South End retail is thriving, Northlake in the middle is pretty much screwed.

You read it before I edited it. I was just parodying the typical urban doom & gloom and then was worried it wouldn’t come across as satirical.
 

I agree with you on those points   

[rancenc]

Not in this region, but terrible news for the western county of Transylvania and the town of Canton with the shut down of one of the largest employers in that area!

https://finance.yahoo.com/news/century-old-nc-paper-mill-200105828.html

[kermit]

2 hours ago, rancenc said:

county of Transylvania and the town of Canton

Haywood County actually.

Canton is a pretty cool little town and the paper mill has been the core of its economy for a long while, but the mill has been struggling for more than 20 years and that uncertantiy (and blight) has held the town (and the river basin to the west) back from the development of a tourism and retirement oriented economy.  New jobs (and more of them) and real estate development will certainly come once the mill is gone (Canton will become a very desirable bedroom community to Asheville). The new jobs won't pay as well, but they will be more stable than anything the mill could provide for the past decade.

On the other hand, this will be a huge revenue hit for the Great Smokey Mtns RR and it puts the whole line from Asheville to Andrews at risk.

Edited March 8, 2023 by kermit

[Windsurfer]

4 hours ago, kermit said:

Haywood County actually.

Canton is a pretty cool little town and the paper mill has been the core of its economy for a long while, but the mill has been struggling for more than 20 years and that uncertantiy (and blight) has held the town (and the river basin to the west) back from the development of a tourism and retirement oriented economy.  New jobs (and more of them) and real estate development will certainly come once the mill is gone (Canton will become a very desirable bedroom community to Asheville). The new jobs won't pay as well, but they will be more stable than anything the mill could provide for the past decade.

On the other hand, this will be a huge revenue hit for the Great Smokey Mtns RR and it puts the whole line from Asheville to Andrews at risk.

My kin on my father's side is from Canton and Clyde. My grandmother, born in 1896, used to tell us how nice the Pigeon River used to be before the mill. She longed for, as long as I can remember, the pristine water it used to have, along with the great fishing.  I think you are absolutely right that development will follow. I hope it's done tastefully.

[kermit]

1 hour ago, Windsurfer said:

My kin on my father's side is from Canton and Clyde. My grandmother, born in 1896, used to tell us how nice the Pigeon River used to be before the mill. She longed for, as long as I can remember, the pristine water it used to have, along with the great fishing.  I think you are absolutely right that development will follow. I hope it's done tastefully.

I heard a story that when folks downstream from the mill had to get rid of the fleas on their dogs they just threw them (the dogs) into the Pigeon. No fleas survived a dip into that river (heard the story 20 years ago and don't know how old it was then)

Edited March 9, 2023 by kermit

[a2theb]

17 hours ago, kermit said:

Haywood County actually.

Canton is a pretty cool little town and the paper mill has been the core of its economy for a long while, but the mill has been struggling for more than 20 years and that uncertantiy (and blight) has held the town (and the river basin to the west) back from the development of a tourism and retirement oriented economy.  New jobs (and more of them) and real estate development will certainly come once the mill is gone (Canton will become a very desirable bedroom community to Asheville). The new jobs won't pay as well, but they will be more stable than anything the mill could provide for the past decade.

On the other hand, this will be a huge revenue hit for the Great Smokey Mtns RR and it puts the whole line from Asheville to Andrews at risk.

Yeah itll be a boon to the parasitic airbnb'ers and upscale developers while generational locals get the shaft and are pushed further out towards Waynesville. 

 

I am all for growth and change but I wouldn't call the loss of $140M in  annual payroll for blue collar jobs a win for Haywood county or WNC.

Edited March 9, 2023 by a2theb

[KJHburg]

The only good news is that I saw the state and community colleges are reaching out to these workers.  There is a huge manufacturing plant Pratt and Whitley opening in Asheville which is somewhat in commuting distance depending on where the employees of the paper mill live.  One thing I notice about western NC people are willing to make longer commutes to live where they want to live.  More manufacturing jobs would be to the east towards Asheville and south of that city. 

https://prattwhitney.com/careers/asheville-facility

[Windsurfer]

3 hours ago, a2theb said:

Yeah itll be a boon to the parasitic airbnb'ers and upscale developers while generational locals get the shaft and are pushed further out towards Waynesville. 

 

I am all for growth and change but I wouldn't call the loss of $140M in  annual payroll for blue collar jobs a win for Haywood county or WNC.

I"m going to go out on a limb and suggest most of that payroll goes to executives living in Asheville or large cities somewhere else.  My grandmother didn't work there because she made more money in Charlotte as a secretary.  Just how many blue collar workers are employed there now and what is the average pay for one of the local workers?  

Perhaps some of those blue collar workers will fix up their grannies' shack and rent out to airbnbers.

[KJHburg]

New tax values are out in Mecklenburg County you can check yours here

https://polaris3g.mecklenburgcountync.gov/

In a quick check of some properties I know of a townhome off Woodlawn goes up 39%, a house in NoDa goes up 93% and house in east Mecklenburg county outside of 485 goes up 82%.

They say the countywide average is 59% and according to reports if the tax rate is made revenue neutral (collecting  same amount of taxes based on new values) 85% of the people will still have a tax bill increase. 

[CLT2014]

2 hours ago, KJHburg said:

New tax values are out in Mecklenburg County you can check yours here

https://polaris3g.mecklenburgcountync.gov/

In a quick check of some properties I know of a townhome off Woodlawn goes up 39%, a house in NoDa goes up 93% and house in east Mecklenburg county outside of 485 goes up 82%.

They say the countywide average is 59% and according to reports if the tax rate is made revenue neutral (collecting  same amount of taxes based on new values) 85% of the people will still have a tax bill increase. 

+61% myself. Relatively close to the average so should not be an insane tax hike. I feel bad for some of the crescent neighborhoods though that are low-to-moderate income and are set to get some big property tax increases.

Edited March 17, 2023 by CLT2014

[KJHburg]

47 minutes ago, CLT2014 said:

+61% myself. Relatively close to the average so should not be an insane tax hike. I feel bad for some of the crescent neighborhoods though that are low-to-moderate income and are set to get some big property tax increases.

Yes I did some more checking for friends an a home in Dilworth only up 30% less than the citywide average and condo uptown only 20% or so but there are some massive increases elsewhere.