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

NEWS INSIDE Hair apparent

Hair styling and cosmetology is a growth industry

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Good neighbor Sam

Dave Phillips’ neighbor will run for Concord City Council Page 3

Volume 14, Number 4 $1.50

Humpy Wheeler: Toll plan won’t work Loan failures By Dave Yochum After nearly three dozen Lake Norman business leaders called on North Carolina legislators in the State Capitol, there’s solid business momentum behind a legislative effort to defund the 50year, $650 million contract with a company whose roots are in Spain. From the motorsports community to community bankers, companies with hundreds of employees, not to mention brick and mortar, are speaking out. A BusinessToday/Cornelius Today online readers poll showed 707 people who parWHEELER

keep falling

to slowly steal it away.” Wheeler is the chairman of The Wheeler Co., a management consulting firm focused on professional sports, particularly motorsports investors. He serves on the board of Belmont Abbey College, the National Motorsports Council and the Governor’s Sports Commission. He is the former president and general manager of Charlotte Motor Speedway. Lincoln County missed the mo-

By John Rehkop After several years of stagnant growth, the commercial mortgage backed security (CMBS) market continues to pick up steam as a rise in new loan issuance is causing delinquency rates for commercial loans to fall, both locally and nationally, according to commercial real estate research firm Trepp, LLC. In the Charlotte metropolitan area, balance of CMBS loans at least 30 days delinquent dropped to 3.6 percent of total loans outstanding, falling from $215 million in May 2014 to $162 million this past May. Nationally, the 30-day delinquency

See TOLLS Page 14

See LOANS Page 14

ment every year. If they are exempt from scholarships, we lose out.” For decades colleges have exchanged an education and experience for young athletes’ service on sports teams. “We in college athletics haven’t done a good job of describing the benefits of college athletics,” said Davidson College Director of Athletics Jim Murphy. Whether failing to explain the perks of being a part of an athletic department is the

issue, or the time has simply come to pay athletes, local schools now face questions about who ROSE should earn what and how to afford it. As college sports have grown to rival professional athletics with corporate sponsorships, ticket sales and

Raleigh bound and determined: Mac McAlpine (center right) organized the anti-toll trip

ticipated wanted a “time-out” on the Cintra toll plan, and 63 wanted the plan to go forward. Another online poll asking if readers had faith in the NCDOT resulted in 398 readers saying they did not, while seven said they did have faith. Humpy Wheeler, the dean of the motorsports community in the Golden Crescent business community, said “with the tremendous concentration of motorsports in the I-77 corridor we must do something, or some other area is going

Good sports: COA’s are another cost for schools

Cabarrus County has a number of new roads Page 6


Point Counterpoint

Pages 24-25

17606 Westward Reach in Cornelius for $2.4 million

NCDOT vs. Widen I-77 Page 27

See COA’s Page 15

RECORDS Transactions Cabarrus 16 Mecklenburg 18 Mooresville 19 Foreclosures Cabarrus 19


Mecklenburg 20 Mooresville 20 Corporations Cabarrus 20 Mecklenburg 21 Mooresville 22


Highways to heaven

face a major challenge as they tackle how to afford new Cost of Attendance Scholarships. UNC-Charlotte Athletics Director Judy Rose says all athletic scholarship winners, regardless of the profitability of their sport, will receive special COA payments. “It’s hard to explain to a golfer or soccer player why they don’t get one,” said Rose. “Doing it in all sports is important. Our men’s golf and soccer programs are in the Top 25 and go to the tourna-


Devan Kline’s franchise is hot Page 4

By Dave Friedman The most successful college basketball coach of all time, UCLA’s John Wooden, liked to say “failing to prepare is preparing to fail.” If Wooden were alive today, he’d recognize that modern athletic departments must prepare for a future that involves compensating college athletes beyond paying for their room, board, and tuition. While on the surface it appears college sports are cash cows, the reality is local colleges and universities

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

BT People

Profile for Business Today/Cornelius Today

Business Today - July 2015  

Business Today - July 2015