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

Car talk: Less driving is working

Exit 27

A new approach to interchanges would affect development in Cornelius Page 2

Jillian Ferrante works from her ‘office’ at Waterbean Coffee in Cornelius

By Dave Friedman Worsening commute times, the high cost of brick and mortar and changing workplace demographics mean

Cabarrus County

Attorney has blessings of business community in his bid to unseat NC Rep. Pittman Page 6

Biker culture

Hip communities are going after cyclists, and pedestrians

LKN Chamber wins top award By Dave Yochum Bill Russell, the long-time CEO of the Lake Norman Chamber of Commerce, is excited: The 961-member chamber has won the top honor from the Carolinas Association of Chamber of Commerce Executives. “I am so ver y excited as this is an award which represents ever y element of our chamber—the 2014 and 2015 boards, the past leadership and achievements, as well as our current membership— and our staff,” Russell said, upon learning the Outstanding Chamber of the Year award had gone to the Lake Norman chamber team.


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BT People . . . . . . . . . . . . . . . . . . . 4 News-e . . . . . . . . . . . . . . . . . . 16-17 Book Review . . . . . . . . . . . . . . . 30 Letter to the Editor. . . . . . . . 31

See WORKING Page 10

19425 Peninsula Shores Drive in Cornelius for $1.825 million

The award comes at a signal moment in the chamber’s histor y. The I-77 toll issue has gripped Lake Norman, with the chamber coming out strong against the plan this past summer. “In 20 years as the president of the chamber I have not witnessed an issue which has been so emotional as the I77 toll issue. Many of us in leadership roles have had to come to grips that our earlier decisions and positions were wrong,” Russell said. “The concept of PublicPrivate Partnerships and toll-

By Dave Friedman The Carolina Panthers are off to their best start in franchise history. Watch them play on TV, and what you see even more of than Cam Newton are commercials for Draft Kings and Fan Duel. The two biggest players in the growing Daily Fantasy Sports business spent more than $200 million on commercials from Jan. 1 through Oct. 5, including a staggering $31 million during the first week of the NFL seakrombolz son. Cornelius-based FantasyDraft.com may be lesser known but it is growing fast. The start-up team hopes to earn a piece of a pie—call it DFS—that is valued at more than $1 billion. When FantasyDraft COO Stephen Krombolz and two colleagues were asked to look into starting a DFS company less than two years ago, he didn’t know much about the industry. Krombolz ran ecommerce for several businesses, and the private investment group that owned those companies expressed an inSee FANTASY Page 18

See CHAMBER Page 11

RECORDS Transactions Cabarrus 20 Mecklenburg 21 Mooresville 22 Foreclosures Cabarrus 22


Mecklenburg 23 Mooresville 23 Corporations Cabarrus 23 Mecklenburg 24 Mooresville 26


Third-quarter results bode well for small business, the economy Page 3

working from home is more and more commonplace in the Golden Crescent. Karen Shore has had a home office for years. The regional

resource development director for the Salvation Army of the Carolinas frequently conducts business from her Mooresville home. “I recognize the amount of time wasted on I-77 if I had to go to the office every day,” said Shore. “For this line of work one of the main measures is being independent and accountable without guidance and supervision.” Kathleen Rose, founder of Davidson based Rose Associ-

Fantastic growth at FantasyDraft in Lake Norman


Banking on banks

Volume 14, Number 7 $1.50

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


Profile for Business Today/Cornelius Today

Business Today - November 2015  

Business Today - November 2015