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August 2015 Published monthly Business Intelligence for the Golden Crescent: Lake Norman • Cabarrus • University City

Film industry

Volume 14, Number 5 $1.50

Race world mashup on road ahead

What happens when managers get overtime?

Is part of the Michael Waltrip Raceworld complex at Chartwell Drive and Liverpool Parkway in Cornelius up for grabs? People close to the operation say the racing entrepreneur has shown the property to more than one racerelated company currently located in the “Golden Crescent” between Mooresville and Concord. Officials at Michael Waltrip Raceworld would not comment on the record. Waltrip himself is not exactly in the driver’s seat when it comes to the race shop and fan attraction, which has more than 200 employees. An investor with considerable wealth on an international scale— Rob Kaufman—is a substantial owner of the enterprise. Kaufman addressed MWR employees Aug. 4 and gave a rough

By Dave Friedman Last month President Obama laid out plans for major changes in overtime benefits, more than doubling the threshold for overtime pay, to $50,440 a year. The change would impact more than 5 million workers nationwide. Hourly workers qualify for overtime pay automatically if they work over 40 hours in a week. Those rules do not apply to employees with duties classified as executive, administrative or professional. People like Tim Goss, Charlotte area rep for the Firehouse Subs franchise, predicts salaries will come down accordingly. “If it passes, we’ll no longer be able to pay how we pay now,” he said. For mid-range franchises,

See RACING Page 14

See OVERTIME Page 15

By Dave Yochum

For the love of beer

Craft brewers and tap houses are hot Page 3

Cabarrus County

Entrepreneurship is all about growing Page 6

Small Business Toolbox

Advice for sales teams, entrepreneurs Pages 10-11

Big Day at the Lake

One for the record books Page 27

Nominations for Top Women now open Nominations for Business Today’s 11th Annual Top Women in Business leadership awards are officially open. The prestigious awards honor the Golden Crescent’s most dynamic women in business, community service, education and politics.


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9224 Fair Oak Drive, Sherrills Ford for $1.155 million

Online nomination forms are at BusinessTodayNC.com To be eligible for this awards program, women should own a business or work in Cabarrus County, Lake Norman or University City. Prior winners include Cyndie Mynatt, owner of the Con-

cord-based Ben Mynatt auto dealerships, Abigail Jennings, president of Lake Norman Realty, based in Cornelius; Kate Gaither, owner of Mooresvillebased Newport Properties; Georgia Krueger, director of the Ada Jenkins Center in Davidson; Dianne Snyder, chan-

cellor of Cabarrus College of Health Sciences; Deborah Young, founder of Deborah Young Studio in Cornelius; and Phyllis Wingate, CEO of Carolinas Medical CenterConcord. The awards have a tradition of recognizing career achieveSee TOP WOMEN Page 15

RECORDS Transactions Cabarrus 16 Mecklenburg 16 Mooresville 18 Foreclosures Cabarrus 18


Mecklenburg 19 Mooresville 19 Corporations Cabarrus 19 Mecklenburg 19 Mooresville 23


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Tax credits, the sequel

Business Today P.O. Box 2062 Cornelius, NC 28031


Profile for Business Today/Cornelius Today

Business Today - August 2015  

Business Today - August 2015