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CB&L A cabarrus business & lifestyles August ‘07 Volume 7 • Issue 8 Publisher Pamilla S. Tolen President Jason Huddle Art Director Kim Cassell Office Manager Kristy Huddle Contributing Photographers Kim Cassell Scott Cassell Concord Museum Jason Huddle Don McNeely Scott Stiles Contributing Writers Steve Brandt Kim Cassell Karen Holland Gail Martin Cabarrus Business & Lifestyles Magazine is published by: Comfort Publishing, Inc. P.O. Box 1984 Concord, NC 28026 For editorial or advertising inquiries, call (704) 782-2353. Fax subscription inquiries to (704) 782-2393. E-mail them to email@example.com. Visit us at www.cabarrusmagazine.com. All rights reserved. All contents ©2007, Comfort Publishing, P.O. Box 1984, Concord, N.C. 28026. Reproduction, in whole or in part, without permission is prohibited. Products named in these pages are trademarks of their respective companies. The opinions expressed herein are not necessarily those of Cabarrus Business & Lifestyles Magazine or Comfort Publishing.
s I’m writing this, my wife has left for Chicago to take a long weekend at a scrapbooking convention. Yes, they have conventions for scrapbookers. And, while I could devote a whole editorial to this nationwide cult that has taken over so many women’s lives, I would digress. With her gone, I’m left to watch after our two boys, ages seven and four. Two boys can be a handful – that goes without saying. Now, if my life was a sit-com, it would be a portrayal of my wife coming home to a house halfdestroyed, pizza boxes everywhere, me tied up and the kids dancing around me like tribal warriors celebrating their latest conquest. It’s that kind of image that Hollywood gives us dads that, frankly, ticks me off. In the early days of television, women were depicted as sub-intelligent beings that were only capable of housecleaning and child-rearing. Now the roles seem reversed. In the movement to have women viewed as equals, the men have somehow turned into bumbling idiots that can hardly tie their own shoes. If you don’t know what I’m talking about, watch just about any commercial or TV show where there is a man and woman cast. Nine times out of 10, the woman is the sound mind and authoritative figure, while the man can barely put two sentences together without saying something completely moronic. Don’t get me wrong, I’m all for viewing men and women equally. I’m not saying we should return to the sexual politics of the 1950s. But I think guys are, to some degree, viewed as a bunch of Rodney Dangerfields
who, “Don’t get no respect, I tell ya!” Here’s a shocker, ladies. Many guys actually do know how to cook. We can clean and we do know how to make it through a weekend with the kids without destroying the house. Yes, we like our football. We let testosterone get the better of us sometimes and the muscle cars of the ‘60s and ‘70s hold a special place in our hearts. But that doesn’t mean we’re unintelligent or incompetent any more than matching shoes with your purses makes you vain or superficial. Guys, stop playing into that stereotype. Don’t be afraid to be a guy! It’s okay to stop and admire the car (just don’t admire the lady in the bikini standing next to it...unless you’re single). Crank the music a little (unless the kids are asleep). Yell and scream at the football games (even if your wife doesn’t understand your need to). I even got a black car with black leather interior last year because I needed something masculine to drive. I can only take so much of the mini-van. I think it’s time for us guys to stand up and say we’re mad as heck and we’re not gonna take it anymore! Now, if you’ll excuse me, I have to go clean the kitchen and cook the kids’ lunch. Best regards,
Jason Huddle, Editor Cabarrus Business & Lifestyles Magazine
The thoughts and opinions expressed in the Editor’s Notebook editorial are those of the editor alone. They do not necessarily reflect the opinions of the staff or advertisers herein. cb&l • august ‘07
Con t e n ts August 2007
7 Editor’s Notebook ................................................................................3
Up Front: ..............................................................................................5 Introducing CMCNorthEast, Autism Speaks, Kannapolis Kares, Robinson Named AFMRD President, New CB&T Headquarters, Hospice Healing Garden, Proper Joins F&M Bank, Senior Center Recognized, Building Inspection and Permit Changes, ThriftyU.com Online
Heritage Cabarrus Inc.: The Past Looks Forward ................................11
Musing On Marketing: Say Good-bye to the Compendium..................15
Philip Morris USA: Plant Closing Signals End of an Era........................16
Reed Gold Mine: A Cabarrus County Treasure ....................................23
Investing: Five Steps Toward a Better Plan............................................27
Cabarrus County Tourism: Full Speed Ahead ....................................28
ON THIS MONTH’S COVER: Philip Morris joins the list of area businesses dramatically changing the landscape of Cabarrus County. What does the plant’s closing mean economically and what does the future hold for the land it sits on?
[ up front ] NorthEast Medical Center/Carolinas HealthCare System Merger Completed July 1 CONCORD – NorthEast Medical Center (NEMC) and Carolinas HealthCare System (CHS) announce that the merger of the two organizations was completed on July 1. Effective that same date, NorthEast Medical Center changed its name to Carolinas Medical Center NorthEast (CMCNorthEast). An evaluation of the medical center’s name was initiated by the NEMC Board of Directors, and the decision to change the name was based on Front row: Bill Cannon, Ralph Barnhardt, James Hynes, Mac Everett; Back row: Larry Hinsdale and Michael Tarwater the perceived value and recognition of both names – and a commitment to honor contracts and other CMCNorthEast, CMC University and future “NorthEast” and “Carolinas Medical Center.” relationships between CMCNorthEast and its system partners located in the surrounding “We believe our new name honors our medical staff. area. These initial members include Michael R. past and our future,” says Larry Hinsdale, “We are confident that this new Coltrane, William T. Niblock, Robert B. Kinney, president/CEO of CMCNorthEast. “It is a combination will advance our development as a MD, Linda K. Bresnahan, MD and Thomas T. gesture that we are one company and at the more comprehensive and specialized medical Long III, MD. same time appreciate our heritage.” center, bringing even more healthcare services With the merger, CHS agrees to make As a result of the merger, four members of capital investments of more than $600 million to our growing community,” says Hinsdale. NorthEast Medical Center’s Board of Directors “We are eager to move forward.” for the development of healthcare services in became members of the Board of “I am equally pleased to launch this very the communities served by CMCNorthEast. Commissioners for Carolinas HealthCare important partnership,” says Michael Tarwater, These capital projects were envisioned as System. These members included Ralph A. president/CEO of Charlotte-based Carolinas cornerstones of NorthEast’s 2015 Plan, an 18Barnhardt, William C. Cannon Jr., J. Knox HealthCare System. “Healthcare is a local month study that forecasted healthcare Hillman Jr. and E.K. (Toby) Prewitt Jr. Mr. phenomenon, and NorthEast and its medical utilization, associated facility needs and Cannon has also been appointed a staff bring substantial expertise and capabilities projected capital expenses through the year vicechairperson of the CHS Board. that are needed to care for patients throughout 2015 and beyond. Additionally, with the The five remaining NorthEast Medical our region. Together, we are well-positioned to merger, CHS assumes NorthEast’s long-term Center board members will continue their local sustain the growing demand for facilities, levels debt of approximately $170 million. leadership roles as the initial members of a of technology and professional staffing Specific continuing commitments by special regional advisory board, known as the necessary to meet the continuing demand for CMCNorthEast postmerger include open access Northern Group Advisory Board that will work excellent healthcare.” to care for patients regardless of their ability to with CHS regarding the mission, quality and pay, support of medical education and training, service needs of the communities served by Up Front continued on next page cb&l • august ‘07
[ up front ] Autism Speaks to Kick Off in Concord CONCORD – Dr. Cathi Trapani, from the Marcus Institute, will be the keynote speaker at a brunch sponsored by Autism Speaks on Saturday, August 18 from 10am to 12 noon at the Embassy Suites Golf Resort & Spa in Concord. Mr. Mark Roithmayr, national president of Autism Speaks, will be a guest speaker. The event will commence the fund-raising campaign for the upcoming 2007 Carolinas Walk Now for Autism walk at Lowe’s Motor Speedway on Saturday, October 6. The brunch is open to all participants of the Carolinas Walk Now for Autism, which is expected to attract 5,000-plus people. This event will be emceed by Larry Sprinkle from WCNC-TV and will focus on efforts for the Carolinas Walk and how parents, family members of people with Autism spectrum disorders, the community and scientists are working to accelerate the pace of research. According to organizers, Autism affects more than one million people in the United States alone and occurs in as many as one in every 150 children, making it more common than pediatric Cancer, Diabetes and AIDS combined. There is currently no treatment or cure for Autism and little definitive research about the disorder, which, they say, underscores the importance of collaborative efforts to understand Autism. For more information, please visit www.autismspeaks.org.
Salisbury: 704.633.7270 www.benmynatt.com
Kannapolis Kares to return for an encore KANNAPOLIS – After a successful inaugural run, the City of Kannapolis plans to organize the second annual Kannapolis Kares day on October 27. This date corresponds to “Make a Difference Day,” a day celebrated nationwide as one for volunteering and community service. The City is actively seeking groups to participate in the event as well as ideas for projects. Last year, projects included doing yard work and home maintenance for residents in need, writing letters to members of the Armed Forces, visiting nursing homes, cleaning creeks of trash, marking storm drains, collecting toys and building the 100th Habitat House for Cabarrus County. In all, there were 50 projects and 700 volunteers. “We really felt like last year was a success,” says Kannapolis Mayor Bob Misenhiemer. “This year, the project has the potential to be a great citywide effort that will help improve our community’s quality of life. Whether a citizen is the recipient or the donor, it is a win-win experience for everyone.” For more information about Make a Difference Day, visit www.usaweekend.com/ diffday/index.html. Kannapolis volunteer efforts will become part of a national registry of projects completed across the U.S. Paul Newman will donate $100,000 in grant awards to charities chosen as national award recipients. To participate, nominate a project or learn more information, please contact Renee Goodnight at 704-920-4317 or at firstname.lastname@example.org.
[ up front ] President of the AFMRD Named CONCORD – Mark Robinson, MD, vice president of education/ residency director of Cabarrus Family Medicine, has been named president of the Association of Family Medicine Residency Directors (AFMRD). Dr. Robinson’s additional Dr. Mark Robinson responsibilities as president include serving as chairman of the Board of Directors and Executive Committee of AFMRD, serving as official spokesman for AFMRD, representing the organization in written communication with legislators, and serving as a liaison to other organizations within and outside of family medicine. The mission of AFMRD is to inspire and empower program directors through personal and professional development, and to support and advocate for excellence in family medicine training. AFMRD is the professional organization that represents and supports the 460 family medicine residency program directors in the United States. Dr. Robinson’s theme for his year as president is Building the Foundation of a Better Healthcare System: For the Common Good. Family Medicine has been a large part of Dr. Robinson’s life. He is the son of a family physician. “My dad practiced solo family medicine for 43 years, so at a young age I witnessed firsthand the long hours, hard work, joy and innumerable relationships that our specialty brings,” says Dr. Robinson. Dr. Robinson lives in Concord with his wife, Karen. They have two sons.
BJW Architecture inc. Designs Renovation for Cabarrus Bank & Trust Headquarters
CONCORD – BJW Architecture Inc. has completed a design for renovations to the corporate headquarters of Cabarrus Bank & Trust (CB&T). In addition to providing design consistency between the headquarters and Cabarrus Bank & Trust’s other branches, the renovation enhances the bank’s presence on North Church Street. “The renovation of our headquarters provides us with good visibility in our market and offers our customers greater accessibility to a comfortable environment where their banking needs can be met,” says Pat Horton, president, CB&T. “BJW Architecture carefully guided us through the process and translated our vision into a design we’re proud of and one we know our customers will appreciate.” The headquarters office, which houses mortgage origination, investments, wealth management as well as the executive management team, will undergo both exterior and interior renovations. The exterior will be comprised of brick and stucco, featuring a corner lobby entrance flanked by pairs of columns and softened by landscaping. Interior renovations will include expansion for loan processing and existing corporate offices. • All Cruise Lines “More and more, companies are realizing that • Full-Service Travel Agency architectural design is yet another way to communicate It’s a fantastic time to book your their brand to the markets they serve,” says Barbara J. HOLIDAY CRUISES! Walker, principle, BJW Architecture Inc. “With this Early Booking Discounts Available for Summer 2008 Cruises! project, the client wanted to develop consistency **BOOK NOW FOR THE BEST RATES** among their locations and heighten their visibility as a leader in community banking.” For more information and a free brochure, call Michele Dixon at The renovations will begin immediately and will 704-947-5522. take place in phases so as to not interrupt operations Toll-free:866-602-5522 during the process. Ike’s Construction Inc. of Concord is email@example.com www.cruiseplannersgo.com scheduled to complete the project by mid-December. Up Front continued on next page cb&l • august ‘07
[ up front ] hospice & palliative care healing garden dedicated
Seated on the bench, left to right: Mr. Carlyle Rutledge and Boy Scout Matthew Edwards. Sarabeth Edwards, Matthew’s mother, stands directly behind the bench.
CABARRUS COUNTY – Fifty to 60 friends, family and members of Boy Scout Troop 173, Harrisburg, gathered at Hospice & Palliative Care of Cabarrus County to dedicate a Healing Garden located outside the Community Grief Center. This garden was the Eagle Scout project of Matthew Edwards and was made possible by a generous gift from Kannapolis native Carlyle Rutledge in memory of his wife, Judith, and in honor and memory of Gregory Brian Edwards, Matthew’s father. With the help of his mother, Sarabeth Edwards, brother Brian, members of Troop 173, Wendy Tate, EarthArt Landscape Construction, Dr. George Engstrom and the Master Gardeners Association of Cabarrus County, Matthew planted raised beds that feature annual and perennial flowers, dug and built a small pond with waterfall and developed a special section for counselors to work with grieving children. The garden features teak chairs and benches, a beautiful birdbath and a large arbor. Ken Russell, Russell Irrigation & Lighting, created an atmosphere for evening counseling sessions through his unique lighting plan. The Judith K. Rutledge Counseling Room, given by Mr. Rutledge in 2006, overlooks this beautiful garden. 8
TIM PROPER JOINS F&M BANK SALISBURY – F&M Bank announces that Tim Proper has been hired as the bank’s newest vice president. He will occupy the newly created position of senior commercial banking manager, bringing leadership and additional resources to the bank’s F&M’s Tim Proper rapidly growing line of business. Proper has more than 14 years of commercial banking experience and was most recently with SunTrust Bank as its Salisbury city president. “We’re very excited that Tim decided to join our company. He is well-known in our home market of Rowan County and has many existing relationships in markets that we’ve targeted for growth. His years of experience in management and commercial lending will have an immediate positive impact to F&M,” says Bob Honeycutt, senior vice president. Proper has a B.S. degree in finance from the State University of New York at Geneseo and is a 2005 graduate of the Stonier Graduate School of Banking at Georgetown University. He currently serves on the board of directors for Waterworks Visual Art Center, Rowan County Chamber of Commerce, and is on the Town of Spencer’s Planning Board. He is active with the United Way of Rowan County, Centralina Development Corporation, Catawba College Business School Advisory Board and the Salisbury Rotary Club. Proper is located at F&M’s North Main Salisbury office. His phone number is 704-6371552. He and his family reside in Spencer.
[ up front ] Cabarrus County Senior Center Recognized for Excellence; Second Center Opens in Mount Pleasant CABARRUS COUNTY – The Cabarrus County Senior Center has earned certification as a Senior Center of Excellence by the North Carolina Division of Aging and Adult Services. The center received this honor through efforts to develop and offer activities and services to older adults that respond to their needs and wishes, which in turn increases consumer satisfaction. The senior center was judged on outreach and access to services, the quantity and types of programs and activities offered, the amount of planning, evaluation and input sought from older adults, effectiveness of the staff, and the overall operation and maintenance of the facility. As a testament to the Cabarrus County Senior Center’s excellence in planning and access to valuable programs and services, a fullservice center is now available to older adults in Mount Pleasant. Cabarrus County has contracted with the Town of Mount Pleasant to operate the Mount Pleasant Community Enrichment Center as a second senior center for Cabarrus County residents. Through research, evaluation and planning, Cabarrus County has identified a need for additional senior centers in Mount Pleasant, Kannapolis, Harrisburg and Midland. Since the Mount Pleasant Community Enrichment Center already was serving as a LunchPlus Club site for older adults, the transition to a full-service senior center will be easier than building a center from scratch. “This new senior center is the result of a wonderful partnership with the Town of Mount Pleasant and community groups,” says Mike Murphy, director of the Cabarrus County Senior Center and Department of Aging. “The
community will continue to be able to rent space in the building. The food pantry housed in the basement will remain, as it is a wonderful resource to the community and helps us meet needs of older adults.” Over the next year, staff of the Cabarrus County Senior Center will transition the Mount Pleasant Community Enrichment Center to a full-time senior center with expanded hours and programs and activities every weekday and on some weekends. In addition to continuing to offer the LunchPlus Club to provide nutritious meals and wellness programs to older adults, the Mount Pleasant Community Enrichment Center will also offer regular-scheduled classes and special interest groups based on the
interests and needs of their clients. In addition, staff will be available at scheduled times to assist older adults and their families in meeting health care and home care needs through assessment, identification of community resources and referrals. “We have received a good response from seniors in Mount Pleasant. We are excited to be able to expand the level of services in this part of the county,” adds Murphy. For more information about the Cabarrus County Senior Center and all the programs and services available to older adults, log on to www.cabarruscounty.us/aging or call 704-9203484. Up Front continued on next page
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[ up front ] Building Inspections and Permitting Now More Efficient; Fee to Increase CABARRUS COUNTY – Cabarrus County has begun using new technology to streamline the process of building inspections and the issuance of building permits. A new software application will improve efficiency through its ability to determine all permit activity on each single land parcel, from the issuance and scheduling of building permits to the tracking of building inspections. These technology improvements will integrate with inspectors’ laptop computers to allow inspectors to get thorough information on a land parcel while in the field and to decrease their time spent in the office. This technology also is intended to increase the number of permit applications submitted online and to improve communication among county divisions regarding inspections and permits. Beginning July 1, a three percent technology fee was added to all permit fees and plan review fees issued through Cabarrus County’s Planning, Zoning, Environmental Protection and Construction Standards divisions. This fee will fund the second stage of implementation and the maintenance of this new technology tool.
online resource connects consumers with business owners CONCORD – ThriftyU.com is now serving Salisbury, Concord and all areas in between with a new Web site. The online resource is geared towards teaching community members about making smart financial decisions and savvy purchases, and connecting them with local businesses. In addition, ThriftyU.com provides a local calendar of events, educational articles, coupons and special offers. Advertisers have the opportunity to provide articles, information about products/services, Web site links and contact information, list events on the calendar and display photos; all of which are updatable as needed. •
[ short takes ] Banfield Pet Hospital has opened in Concord at 6070 Bayfield Pkwy. Veterinarians Will Pressly and Howard Eisele can be reached at 704-782-3921... Modern Solutions Salon & Spa has relocated from Kannapolis to a new facility at 361 Old Salisbury Rd. Call 704-7860589 for more information... Builders Design Studio has opened a new location at 5700 Concord Pkwy...
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Concord Trophy Center has moved to 14 Church St. S. – replacing Once Upon A Time Childrens Clothing... Goodwill Industries will be opening two new Cabarrus County stores – one at Poplar Tent Road and George Liles Boulevard and one on Dale Earnhardt Boulevard, across from Lowe’s.
[ spotlight ]
by Kim Cassell
hat has evolved into a need for additional physical space on the part of both Historic Cabarrus Inc. and Concord Museum Inc. has brought about a proposed union. June’s annual
dinner meeting for Historic Cabarrus patrons brought an exciting announcement – a merger that would be deemed Heritage Cabarrus Inc. The boards of both organizations have voted to complete the merger and, as part of the initial agreement, six board members from each of the organizations would make up a board of directors for Heritage Cabarrus. An effort is currently underway to iron out the details and secure a downtown Concord space
large enough to house the collections that both organizations would like to share with the public. What is also necessary for the venture to be a success is community support. “We are looking to initialize a fund-raising campaign and secure a permanent facility in downtown Concord to house the museum and
additional office and storage space for both entities,” says Janet Dearmon, executive director of Historic Cabarrus. She is also quick to point out that Historic Cabarrus will retain its offices in the Historic Courthouse under the umbrella of Heritage Cabarrus. “We are very passionate about downtown and want our efforts to remain here,” she adds. The Historic Cabarrus County Courthouse was slated for demolition in 1973. Members of the community stood defiantly against that move and what successfully emerged was Historic Cabarrus Inc., which took on the task of supervising the needed restorations of the courthouse. With that work completed four continued on next page cb&l • august ‘07
Educating the public: Janet Dearmon and Judge Clarence Horton, shown here in the Historic Courthouse, have teamed up for Historic Cabarrus Inc. in their development of “Historical Moments,” both on video and in print.
years later, the nonprofit focused on the promoting of county historical literature. Historic Cabarrus’ scope was widened when Dearmon was hired in 2002. Dearmon and retired judge, Clarence Specializing in 100% client satisfaction!
Horton, have taken preservation a step further in their creation of a historical video series about the county with Horton serving as narrator. Short segments initially aired on Cabarrus County’s Channel 22, then a full-
fledged series of television shows called Historical Moments evolved. The idea behind the series was its use in the county’s schools as an educational tool. At the same time, it serves to educate the public – something Dearmon takes to heart. To that end, Historic Cabarrus intiated the publication of Historical Moments Magazine. The first two quarterly issues were widely distributed free throughout the county. Future issues will be sent to members of the organization and to local schools. The Concord Museum’s roots date back to 1939 when it was known as Confederate Memorial Hall and was housed at the corner of North Union and Killarney streets in the “Sandy Smith” house. The house had been bought by the city and transformed into a YMCA, museum and public library. Concord city officials assigned the United Daughters of the Confederacy (UDC) with the task of collecting area artifacts for the sake of county historical preservation. Their collection remained on display between the
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library and the YMCA swimming pool until that building was demolished and a new public library was built in 1976. By that point, the Historic Courthouse’s initial renovations were nearing completion and the UDC’s historical collection was able to be displayed there until the late 1990s. Instead of placing all their items in storage while additional courthouse renovations were being done, the UDC’s Mary Lentz relocated the Concord Museum to 11 Union Street South, in the expansive basement of what was once Belk Department Store. She and Lib Davis had cared for and added to the collection for 30 years, and this move turned out to be a good time to have the compilation professionally appraised – its value totaled more than $208,000. Lentz passed away in 2003, a year before the museum moved upstairs to the ground floor of the Belk Building. Construction of the new county jail and the subsequent demolition of the structures on Corban Avenue between Church and Union streets meant the replacement of the Concord Museum with Your Gym in the basement space. While the museum has been given storage room on the second floor of the Belk Building, the museum itself is now much smaller and allows for only about a third of its pieces to be displayed at any given time. Items at the museum consist of Native American artifacts, military memorabilia like two Confederate battle flags (Cabarrus Rangers and the Cabarrus Guards), a rare Japanese sniper’s rifle from World War II loaned by Bill Udovich and military headwear by Bill Grist. Area residents are also generous in their lending of photos, clothing, household items and toys for display. Zac Moretz, president of the board of Historic Cabarrus, emphasizes the extensive collection of historical research materials available at the museum. He envisions a library and research area in the new Heritage Cabarrus facility.
A tight squeeze: The Concord Museum’s space at 11 Union Street allows the display of only about a third of its collections. Exhibits have to be displayed on a rotational basis.
Visual exhibits of this type are perfect learning tools for area students, bringing into view local history from a very personal perspective. Field trip groups visit the museum on a regular basis, but space has become an
issue. There is basically no room to expand, nor is there room to allow large numbers of people in together. Initilly, there were two local chapters of continued on next page
cb&l • august ‘07
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the United Daughters of the Confederacy – the Dobson-Ramseur and the Coltrane-Harris. Over the decades, the Dobson-Ramseur members have dwindled in numbers so the ColtraneHarris chapter retains ownership of the museum’s original collection. Protection of the collection is uppermost in museum board members’ minds. It’s important to Historic Cabarrus, too. Dearmon sees a new facility as the means to properly exhibit Concord Museum’s collections as well as those Historic Cabarrus has been approached with – Hank Utley’s outlaw baseball collection, textile mill items, and more. She sees a commonality between the two nonprofits and views the merged organizations as “a viable community and county resource. It is our hope to include, at some point, Kannapolis as well, making Heritage Cabarrus a countywide history initiative.” She adds, “It’s a wonderful opportunity to partner under one umbrella. We all have so much to offer the community – our history is countywide.” “We are undertaking a capital campaign to build a new, dedicated museum facility somewhere downtown. We believe that it’s something the community should invest in, not only as a cultural attraction, but also as an important means of preserving our local heritage at a time that has seen so many of our own longstanding institutions (Cannon Mills, CTC) being replaced,” says Moretz. “All the changes that are going on in our county mean we must preserve our heritage for our children and their children,” he adds. Both nonprofit organizations rely on the public’s assistance and this newest venture will be no different. To join Heritage Cabarrus, call Janet Dearmon at 704-920-2465. The Concord Museum can be reached at 704-782-3688. Admission is free and the museum is open Tuesday and Thursday from 11:00am to 2:00pm. •
[ marketing ]
Musing On Marketing: the last of the compendium by Steve Brandt
ver the past few issues we have been reviewing The Compendium of Advertising Performance and have covered the following groups of functions and their related questions: Basic, Contrasting and Persuading. This month will conclude this part of our study of advertising. (I heard that “yeah!”...so, watch it!!) The final functions/questions fall under the category of Qualifying Functions/Questions. The majority of the time, this group can be very useful as a salesperson’s ammunition when dealing with professional buyers or purchasing agents. However, the retailer attempting to sell to his everyday customers can also benefit from these items. The objective is to answer the questions posed by the particular function and overcome anticipated objections before they arise. • Amplify (“How and where else are you telling the story of your product?): Here you inform the buyer where he or she can obtain additional information – perhaps in the form of an outside review or research. • Expand (“Why should I start to sell your product?”): Certainly a good question to anticipate and answer. If you can’t answer this question, you can’t expect anyone to purchase the product. • Relate (“Why should I continue to sell your product?”): This usually involves a competitive situation where the competition has introduced a “new and improved” version. Has your product kept up with the times? This can
be a good time to review the basics behind the success of the product you are offering. Some improvements are superficial or cosmetic and not worth necessarily paying for. • Support (“Why should I listen to your salespeople?”): To quote from Selling 101, a good salesperson is a problem solver. You should be able to depend on their help and assistance. Who knows the product better than the manufacturer’s rep? Hopefully nobody. Also, they might be able to offer additional benefits such as co-op dollars or special promotions that you do not know about. • Identify (“Am I a likely prospect for your product?”): Hopefully, the answer to this is “yes” or the salesperson should not be wasting their time or yours. Well, that’s it. We have now concluded our discussion of The Compendium of Advertising. A few parting thoughts...remember that you can and should use this tool to create your advertising (and to help analyze what the competition is up to). However, remember that an advertisement should never attempt to answer all 24 questions (functions). This would only confuse the consumer. Your copy (which shall be discussed in the near future) should be
restricted to six to eight information functions and one or two contrast or persuade functions. Then you will be on the right path to the creation of an advertising campaign that should produce results. The Compendium serves as a checklist to make sure the advertisements you develop (whether you are creating your own or having them done by an outside source) include every function and answer to each necessary question. It can help prioritize responses – pointing out what the more important functions and questions might be. Finally, the Compendium can reveal the competitor’s strategy. You can match their ads with the Compendium and learn what they are emphasizing – what approach they are taking. This can help you possibly prepare a counterstrategy. Next month we shall begin a discussion of how this thing called advertising works. We will get into your mind. Be afraid...be very afraid. • Steve Brandt’s 30-plus years in the field of marketing/advertising includes positions at ABC-TV and major advertising agencies. Brandt brings this extensive background to his position as an account executive with Fairway Outdoor Advertising. He also has been an adjunct faculty member at Alamance Community College and has done numerous small business workshops. Brandt can be reached at 800-476-1371 or via email at email@example.com.
cb&l • august ‘07
[ c o v e r f e at u r e ]
irst Corning, then Pillowtex. The NorthEast Medical merger.
hole in the local tax base, the job market and the Rt. 29 corridor. CT Communications. Little by little, the face of longtime “It will affect every element of our economy, from jewelry stores to gas stations to home improvement,” says Cabarrus industry has changed. Now Philip Morris has Concord Mayor Scott Padgett. “I can’t think of any part of our local business economy that won’t be affected. It’s a added its name to that list with the announcement that it will shock wave that is going to go through our community.” The plant employs approximately 2,500 workers. “It’s the relocate all local operations to Virginia or Europe by 2010. punch you didn’t see that gets you,” he adds. The June 26 announcement that Philip Morris would sell its 2,100Philip Morris was a source of skilled, well-paying jobs. While the acre property was the last in a series of major industrial changes for the company is still determining its retirement, severance and relocation region over the last five years. Its exit within three years will leave a big offers, those employees who stay may not find it easy to find
jobs that are the equivalent in salary and benefits. “Wages at Philip Morris were among the highest in the community – higher than textile,” says Padgett. Wages are just part of the story. Philip Morris made a significant contribution to the area tax base, which will be severely reduced when the plant is finally closed in three years. According to the City, Philip Morris is Concord’s top taxpayer, paying out $4,955,861 in taxes to the city in 2006. This includes $2,162,745 in taxes paid on property; $144,584 in taxes
paid on buildings and $2,648,532 paid on personal property (equipment). In total, this would equate to six cents on the tax rate. However, the land and buildings aren’t going anywhere, so, according to City officials, the impact would only be three cents on the tax rate. How the campus is disposed of will ultimately be up to Philip Morris, which owns the land. But if area leaders get a say, the property will be used for future commercial development that will replace both jobs and tax
revenue. From a budget perspective, commercial development on the site would be preferable to residential since the latter requires more extensive support services and does not yield a similar tax contribution. John Day, Cabarrus County manager, says that the property was valued at $1.1 billion, including the plant equipment. That generated $6.9 million in annual tax revenue, equivalent to 4.6 cents on the tax rate. “There’s potential there to affect our tax rate,” notes Day. Even if the plant goes unsold continued on next page
look for new development to replace its tax base, Cox says that nonprofits hurt by the withdrawal of Philip Morris funds will have to find new donors, reduce services or raise their fees. Still, he is not aware of any agencies that were completely dependent upon Philip Morris contributions. Padgett knows that the loss of Philip Morris will affect area residents. But he believes that it is not the same as the loss of Pillowtex.
A perk that will disappear with the plant: The Philip Morris Wellness Park, surrounded by Philip Morris-owned working farmland and situated directly across Highway 29 from the plant, offers recreational outlets for company employees – baseball, volleyball, basketball, horseshoes, a fitness trail and a playground.
for a time, the tax rate decreases if the plant is unused. Day points out that when the Corning plant was mothballed, its tax value plummeted 80 percent compared to its worth when active. The Philip Morris holding was unique in that the company chose not to develop prime land alongside the highway, which remained farmland. The company buildings were barely visible from the road. “I can’t imagine anyone else doing that,” says Padgett of the land. A new owner is likely to result in very noticeable changes in the Rt. 29 corridor, although given how large and deep the property is, a good bit of development might still not be along the road. Padgett hopes that whatever comes will be aesthetically pleasing. “We will definitely want to keep in mind that this is an entrance to our city and we want it to be attractive,” says Padgett of future development. Padgett expects that the drop in the tax base will affect area projects and the city/county budget, which was just turned in weeks before the announcement. “We’re going to go back and look at everything,” he says. A 18
shortfall might be program cuts or project postponements, says Padgett, but he also cautions against overreaction. Key projects must still go forward, he says, so that the area can prepare for the future and meet existing needs. “Our job,” says John Cox, president and CEO of the Cabarrus Regional Chamber of Commerce, “is to replace the tax base with new investment and new jobs.” “We’ve proved many times that we can make hard decisions,” says Padgett. “This illustrates that in today’s economy, you really can’t take anything for granted.” The area will also see a drop in charitable giving and philanthropic support with Philip Morris’ departure. The company was a major player in the community. Day estimates that Philip Morris contributed approximately $1 million spread throughout the counties in which its employees lived. “I think it’s a reality check for all of us,” says Cox. When a single company is a generous donor for a long period, Cox thinks it can create complacency and an “attitude of entitlement.” Just as the county will need to
“This is different. In some ways, the difference is good,” he says. The shift will happen over a three-year period. Hourly workers have been promised jobs and so have some of the salaried workers, says Padgett. “I don’t anticipate a large need as far as social services,” he says, in contrast to Pillowtex’s abrupt closing that left thousands unprepared. Cox notes that compared to the Pillowtex closing, the Philip Morris transition will happen over a period of time, with the plant to be shuttered in year four. The average tenure at the plant is 15 years, with many employees having more than 17 years with the company. Newer employees are most likely to be left without a relocation offer, although details have not yet been announced. But given the likelihood that the retirement, severance and relocation options will be reasonable, Cox does not expect that federal agencies will “swoop down” on the area to provide assistance. Likewise, he doesn’t expect a run on retraining programs, since Philip Morris has a highlytrained workforce.
Jerry Saunders, senior executive for economic development of the Cabarrus Regional Chamber of Commerce, points out that those workers who do end up jobless are likely to go to other local manufacturers who are seeking skilled workers. But the change is not going to be painless. “It’s going to be very difficult to replace all of those jobs with like wages in a short time,” says Cox. He says that area planners want to do everything possible to help displaced workers find similar jobs and stay in the community. “We certainly work to find ways to add additional skills to our workforce,” he says. Day points out that officials still don’t know yet how many Philip Morris employees live in Cabarrus County, although they have requested that information from the company. Without data, the true impact to schools and other county services can’t be calculated. Day doubts that the plant’s closing will have a major impact on the demand for area schools – at most, he says, it may buy a year’s breathing room in a county with a five to seven percent annual school growth rate. Day says that while the company’s move will certainly be noticed, it is unlikely to have the significant impact that it would have had 10 to 15 years ago because the county has grown so substantially in its population and tax base. “I’m certainly not underestimating that it will be felt,” Padgett adds, noting that the shift will not only affect the tax revenue from the company and its land, but also the income and sales taxes generated by employees. Cox knows that there will be an immediate impact on the Rt. 29 corridor. On the plus side, once the plant closes residents may notice a decrease in traffic during the shift change times. But for business owners along the corridor, less traffic means less business. “We’re working as hard on this as we can,” says Cox. It’s difficult not to see a perfect storm in
all of the shifts that have occurred in the county’s long-standing industrial base within a short period of time. “Psychologically, if we sat back and thought about that, we could get pretty depressed pretty quickly,” admits Cox. The area still doesn’t know for certain what the job impact will be of the CT Communications and NorthEast mergers. With Pillowtex, Corning and other plant closures, the region lost 9,000 local jobs. “This makes it more important than
ever to get the North Carolina Research Campus built as quickly as possible,” adds Cox. “You can’t quit and you can’t give up. You can’t forget the human and emotional side. You dig down deeper. This is the kind of thing that shows the character of your community,” says Cox. “John (Cox) has been saying for several years now that this is a community transitioning continued on next page
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“It will affect every element of our economy, from jewelry stores to gas stations to home improvement. I can’t think of any part of our local business economy that won’t be affected.” – Concord Mayor Scott Padgett from textiles and tobacco to tourism and technology,” adds Saunders. “Cabarrus County is the poster child in the Carolinas” says Cox for the kind of change that is happening throughout the state. Because the county weathered early losses, it has also been first in creating new opportunities. Cox is proud of the tourism potential in the county, including Lowe’s Motor Speedway, the motorsports industry and Concord Mills, which was also recently sold to a new owner. The new Embassy Suites and convention center will bring more revenue to the area, and Cox notes that there is serious discussion underway for a 400bed, $100-million upscale destination hotel, Great Wolf Lodge, near Exit 49. While that deal is not final, incentives for the project have been approved by the state. Saunders notes that the county is also attracting midsize companies, such as an Italian gelato factory currently under construction, a new call center and Windshear, a wind tunnel and rolling road facility that will open in 2008. These and other new corporate residents in different sectors with a variety of business
models are exactly the kind of diverse portfolio most likely to buffer the region from future big losses. Padgett says that county leaders have already been approached by developers from outside of the region. He’s sure that developers across the country noted the announcement of the plant closing. The Philip Morris location is served by major highway access plus a rail line, and is close to Charlotte with a flat, beautiful and large campus. All of those attributes together make it a very unique, prime property. Padgett says that economic development experts have told him that it is a very attractive piece of land and should bring the interest of highly desirable industries. Most companies that want a large campus must assemble the land parcel by parcel. That makes such a large contiguous campus especially rare. Padgett sees benefits to keeping the land intact, or at least in large pieces. Day notes that the land is close to the new North Carolina Research Campus and will benefit from even better highway access once George Liles Boulevard connects Rt. 29 to I-85.
Padgett says that the Philip Morris building could have many new uses. His preferences for the site would be a clean industry with low water usage in a future-oriented industry such as technology, research or light manufacturing. Office space is also a possibility. The site is large enough to be home to a diverse mix of new companies. Day notes that the land, which is what economic developers refer to as a “megasite,” would be a good fit for a large project such as an automotive plant. While landing such a plant would be an immediate fix in terms of jobs and taxes, it does not solve the larger issue of economic dependency on a single large employer that is subject to global market forces. Changes in the global market for cigarettes triggered the Philip Morris closing, and Day notes that such shifts are increasingly common. “We have been talking to Philip Morris about their land for about the last three years,” says Cox, noting that long before the announcement of the plant closing, local officials had explored possible uses for the land
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bordering on Rt. 29. While those options are now unlikely, the dialog has built familiarity between officials and the company, which is an asset now that bigger changes are looming. Cox says the large campus has potential for a corporate headquarters, as well as for office, institutional and manufacturing uses. “At this point, we’re adverse to a residential scenario on the Philip Morris property,” he says. “We want to more than replace the jobs that were lost,” he adds. Another option would be to use the land for smaller developments in a variety of markets, mitigating the market risk. “It’s like having a clean slate – what would your dream development be?” asks Day. “It’s probably some of the best land, in terms of light manufacturing, in the state.” That is why he thinks that it is not unreasonable to expect future development, in the long run, to exceed the current value of the Philip Morris plant. Day notes that in the short-term, there are limited ways to replace the lost tax money. Gaining replacement development, raising taxes or cutting services are the three choices. But Day notes that the North Carolina General Assembly is currently considering a Medicaid relief package. Since the county currently budgets an amount for Medicaid roughly equivalent to the tax revenue to be lost with Philip Morris, a move by the General Assembly to reduce the county’s liability for Medicaid might offset the tax shortfall caused by Philip Morris’ move. Even the best planning is unlikely to completely insulate the region from future job loss. “Things like this happen everywhere,” says Day. It’s a natural cycle of events for a growing area.” “I’m sure there are many more positives that we cannot even imagine,” says Padgett. “I think it (new development) has great potential to exceed the impact of Philip Morris,” agrees Day. •
The Intimidation Continues! 8/9
8/12 8/13 8/14
Latin Heritage Night/ Thirsty Thursday w/$.25 Wings Courtesy of Wing Street WSOC 103.7 Salute to Local Heroes (Medic, Firefighters, Police, EMT)/ China Grove Night T-Shirt Giveaway (1st 1,000 Fans) Courtesy of Ben Mynatt Megastore/ Samaritan’s Feet Shoe Drive/Cabarrus County Gymnastics Exhibition/ Church Night Family Fun Day Kids Eat Free Courtesy of the Cabarrus Creamery $.50 Hot Dogs/ Merchant’s Night/600 Festival Night
8/26 8/27 8/28
Two-For-Tuesday/ Businesspersons Special12:05 PM Back-To-School Night w/ Backpack Giveaway (1st 1,000 Fans) Sponsored by Crossroads Church/ WSOC Channel 9 School Tools Night Post-Game Fireworks Courtesy of First Bank/ Boy Scout Night/ChickFil-A Night w/40th Anniversary Koozie Giveaway Family Fun Day Kids Eat Free Courtesy of the Cabarrus Creamery Two-For-Tuesday/ Mooresville-South Iredell Chamber Night/Baseball Bingo
Fieldcrest Cannon Stadium Exit 63 off I-85
Kannapolis Intimidators Class ‘A’ Affiliate – Chicago White Sox South Atlantic League
(704) 932-FANS (3267) www.intimidatorsbaseball.com cb&l • august ‘07
[ in focus ] snapshots of area events
A growing celebration: Bank of North Carolina (BONC) celebrated its Harrisburg branch opening with a ribbon-cutting. Dana Ritchie, BONC Harrisburg city executive, pictured with Harrisburg Mayor Tim Hagler, and surrounded by staff members, did the honors. Bank of North Carolina turns 16 this year and the Harrisburg branch is its 13th full-service office. Construction is underway on a Concord branch located in the old Carmine’s Restaurant building on Copperfield Blvd.
“Udder”ly fun: On Friday, July 13, Cow Appreciation Day was celebrated at the Chick-fil-A at Concord Mills. Pictured are Cow Pageant entrants with Darren Harton, the resident cow for the day. Firemen from the Concord Fire Department presented children in attendance with fire helmets while Michael McClendon, a balloon artist and magician, entertained youngsters.
A caring club: Standing, left to right, Lisa Pressley and Melissa Gardner look on as Irene Childers writes a check to Hospice & Palliative Care of Cabarrus County for $3,020. As a member of the Gold Card Club, customers of Anne’s, a boutique on Copperfield Blvd., donated $20 each to Hospice. A total of 151 ladies joined the club. “On behalf of Anne’s and all of our wonderful customers who participated in our Gold Card Club this year, we want to say thankyou (Hospice) for all you do for the families of Cabarrus County,” said co-owners Melissa Gardner and Irene Childers. Not pictured: Betty Osbourne and Sylvia Sillmon.
They’re smokin’!: Dickey’s Barbecue Pit celebrated its grand opening last month with a weekend-long celebration. Here, franchise owner, Assane Lo, cuts the ribbon with Chamber members and executives. The next day, Dickey’s hosted an all-day celebration with a clown, games, face-painting, a coloring contest and even Karaoke. Dickey’s prides itself on its wide selection of meats and vegetables. 22
Golf indoors? Fore!: KIS Golf recently celebrated its grand opening at Concord Mills. The new indoor golf facility not only custom fits clubs for each golfer, but allows them to play inside, using a state-of-the-art screen to hit against, registering distance, accuracy, etc. Players can play an entire virtual course. Concord Mayor Scott Padgett did the honors of cutting the ribbon.
[ w ort h ]
by Kim Cassell
he colorful events leading up to Reed Gold Mine’s being named a National
Historic Landmark in 1966, then a state historic site in 1971 lend themselves to some great storytelling. Located in Midland, the mine was the source of this country’s first documented gold discovery. The year was 1799. John Reed, an illiterate and illegal German immigrant, deserted the British army toward the end of the Revolutionary War while aiding
the English in their attempt to thwart the efforts of the American colonists. He made his way from Savannah, GA to rural North Carolina and settled on farmland near Little Meadow Creek. Born in the late 1750s in the German province of Hessen-Cassel, it is assumed by his heritage that Reed, like many immigrants, had Americanized his name, which may have been Johannes Ried, Riedt or Rieth. Reed’s farm was like the many others in the region, growing crops such as corn and wheat. He married Sarah Kiser, had three boys and five girls, and led a modest life – until one Sunday morning. Conrad John, 12, one of Reed’s sons, went fishing on the farm’s Little Meadow Creek with some of his brothers and sisters instead of going to church. Seeing something shining in the water, he pulled out a 17-pound wedge-shaped yellowish rock. Not knowing what it was, that rock served as a doorstop in the Reed household for three years. Even a visit to Concord silversmith, William Atkinson, yielded no clues. Atkinson didn’t recognize it as gold either.
Finally, in 1802, on a yearly trip to Fayetteville, NC, Reed had a jeweler look at his son’s discovery. The jeweler confirmed it as gold, fluxed it into a bar between six and eight inches long and promptly bought it from Reed for $3.50. It was worth approximately $3,600. Fortunately, Reed discovered he had been duped and was able to get about $1,000 more out of the Fayetteville jeweler. continued on next page
cb&l • august ‘07
Welcome!: The Visitor’s Center is open at no charge to the general public, with a film about the history of the site, a selfguided tour and machinery/equipment exhibits.
Based on the value of the original find, the Reed family continued its prospecting along the creek, primarily during summer months when crops were in the ground and the creek was all but dry. In 1803, Reed looked to expand his profitable enterprise and took on three partners – Frederick Kiser, his brother-in-law; Reverend James Love, a Baptist minister; and Martin Phifer Jr., a prominent businessman. The three men provided two slaves each to the venture, along with mining equipment that amounted to pans and rockers (boxes with tin bottoms full of holes), and Reed supplied the site – the four partners divided the profits equally. It is said that Peter, one of Reverend Love’s slaves, dug down six inches into the creekbed one day that first year and discovered a 28-pound gold nugget valued at $6,600. Despite his lack of education, John Reed was amassing substantial wealth from his goldmining business. He purchased about 2,000 acres of land in Cabarrus County over the years;
however, he used the majority for crops, believing he could make as good a living at farming as mining. It didn’t matter that the plow unearthed gold nuggets or that quartz emerged from the ground surrounding his home. By 1824, Reed and his partners had unearthed $100,000 worth of gold. Until the California Gold Rush of 1848, North Carolina was the number one gold producer in the U.S. and employed nearly as many people as farming. Other area residents had initiated their own goldmining efforts and were successful. Mines like the Parker, Harris and Phoenix operated then. In 1825, it was discovered that gold also could be mined from underground veins of white quartz. Reed Gold Mine started this process in 1831 at a much higher cost in labor and machinery. In 1834, Reed took a more hands-off approach, hiring his sons and sons-in-law to operate the mine while he took in a third of the
profits as landowner. The following year a dispute between Reed’s son, George, and George’s partners over the share of a 13-pound gold nugget went to the State Supreme Court. A court injunction closed the mine for 10 years...until John Reed’s death in 1845. His wife had passed away in 1843 – both are buried on the site’s Mansion Hill. Reed’s will called for the sale of the mine upon his death. His grandson, Timothy, and son-in-law, Andrew Hartsell, bought the property but their tenure was short-lived when profits proved scarce. Ownership changed hands several times – with the property split, then reassembled – until 1895 when Oliver S. Kelly, O. Warren Kelly and Dr. Justin D. Lisle re-started mining operations as the newest proprietors. In 1896, the last large gold nugget was found at Reed Gold Mine. It weighed 17 pounds in pure gold at a worth of $4,866. It was put into Concord National Bank’s vault for safekeeping. The Kellys continued mining, but closed
Continuing education: At left, John Dysart conducts an in-school teaching program. Above, Gold History Corporation volunteers man a Reed Gold Mine exhibit at a gem show at Charlotte Oasis Temple.
down operations in 1903 when the yields proved small. They tried again in 1911, then ceased in June of 1912 after Warren Kelly unsuccessfully conducted an excavation in a shaft 150 feet underground. The family then used the land for a country retreat where they could ride horses and hunt. During World War II, when metal was scarce, they sold the majority of the old mining machinery for scrap that could be recycled. The property was handed down to O.S. Kelly Company in 1921, then to Armin L. Kelly in 1950. Over the years, all of the original buildings fell to ruin. The Kellys also rented a portion of the farmland to tenant farmers/caretakers, the last of which – Charlie Barbee – moved off the property in 1962. The mine remained abandoned until December 13, 1971 when members of the Kelly family donated about 70 of their 820 acres, including the mine, to “the people of North Carolina” and sold the rest at a modest price to the state. With state historic site designation, Reed Gold Mine is now preserved as North Carolina’s only major mine left in existence. As part of that preservation, North Carolina’s Department of Cultural Resources (DCR), “a state agency governed by state policies and regulations,” works in conjunction with a local support group for the historical site. In this case, the Gold
History Corporation Inc., “a non-profit organization dedicated to the preservation and interpretation of North Carolina’s gold mining heritage,” was formed. The group is described as “stewards of state property, collection and conservation management policies.” As state regulated, it operates on a board-approved budget stemming from a DCR capital budget account. So, in April of 1977, when Reed Gold Mine’s Visitor’s Center opened along with 400plus feet of restored tunnels, volunteers from Gold History Corporation were vital. Member volunteers meet at least once annually – each December – to elect a new board of directors, recap the year’s accomplishments, and discuss future goals and necessities. Together, they coordinate with the DCR and its Capital Projects office on such projects as maintenance and repair of on-site buildings like the Visitor’s Center and auditorium, and construction of new public restrooms and bridges on the historic site. Regionally, they carry on the continual public education process that includes Summer day camps for children, gem shows, gold exhibits at area museums and colleges, inschool teaching programs and panning demonstrations at such functions as High Point’s Celebrate North Carolina, Heritage Days and Department of Cultural Resources
events...even participation in area Christmas parades. All efforts keep the rich history of Reed Gold Mine in the public eye. Gold History Corporation also oversees a variety of on-site experiences. The Visitor’s Center provides an orientation film depicting the state’s gold mining trade as well as a library continued on next page
cb&l • august ‘07
Halloween fun: Reed Gold Mine’s tunnels become haunted each October.
containing Reed family history, and exhibits pertaining to the geology and mining of gold and equipment of that age. There is no fee charged to tour the mines or enjoy the Visitor’s Center. The underground tunnels dating back to the 1830s and a reconstruction of the stamp mill with operational 1890s machinery are open daily for guided tours and demonstrations. Walking tours along the property’s trails offer insight into archaeological sites and history lessons at the “Talking Rocks.” The chimney and restored foundations of the 1854 mill house stand on Upper Hill. Visitors may enjoy lunch in the picnic areas, there’s a gift shop and gold panning is offered to the public from April 1 through October 31 at a cost of $2.00 per pan ($1.50 per pan for prescheduled groups over 10). Then the underground tunnels turn into the Haunted Mine during the Halloween season. Visitors get to experience the close-in darkness of the tunnels and all they hold to scare young and old. Cabarrus County literally has a treasure in its own back yard – documented, restored and protected. What a treat to be able to catch a glimpse of the glory days of the mine that started the rush. Reed Gold Mine is located at 9621 Reed Mine Road. For more information or to become a member of the Gold History Corporation, please call 704-721GOLD (4653). • 26
[ finances ]
five steps toward a better investment plan by Karen Holland
deprivation, however. It should be about making informed choices among competing needs, and keeping your need for savings in the competition.
2. Automate your savings plan. Perhaps the best way to get going on the savings habit is to “pay yourself first” every month, or every payday. Treat your savings as you do the electric bill and the mortgage, as something that is mandatory, not discretionary. To put some teeth into your “pay yourself first” program, consider an automatic investment plan. A given amount of money can be transferred from your bank account into your brokerage account each month and invested according to your instructions.
1. Set your goals. If you don’t know where you’re going, any road will take you there. Starting your financial objectives, putting a number on your needs, is an essential first step. Once you have a goal, you can begin to measure your progress. Saving money shouldn’t be about
3. Exercise expense control. For many, controlling impulse purchases is a good way to begin to reduce spending. You might try to write down intended purchases, then wait a week or so before acting to give the impulse time to cool. Or convert the cost of an item to the time needed to earn the funds needed to make the purchase. Once spending habits have been addressed, try these ways to make your money work more efficiently: • Invest in your debt. Do you know how much money you spend each year in interest on your credit cards? Many people are shocked when they add up the numbers. Paying down those balances is an investment in yourself that will free up cash for real savings down the road. • Defer taxes on your investments. Everyone should take full advantage of his or her 401(k) and IRA saving opportunities. Tax-deferred
f you earn $40,000 a year, after 25 years you will have received $1 million, even if you never get a raise. But how much of that $1 million can you hang on to? Of course, that’s $40,000 before taxes, before food and shelter costs, before vacations and holiday presents, before all the large and small expenses that seem so important, day in and day out. It is easy to lose sight of the larger picture and hard to control expenses that, taken individually, may seem inconsequential. There’s really only one way to take control of your financial life. You need to make a series of important choices through a process of planning. You need to take a disciplined approach to spending, saving and investing your money. Here’s a five-point plan to help you start doing just that.
compounding in the Roth or traditional IRA means that goals can be met more quickly. 4. Have an investment plan. One important Wall Street truism is: Investment success results from time in the market, not timing the markets. In theory, everyone would like to buy at the bottom of the market and sell at the top, but that’s not possible on a consistent basis. The better approach is to develop an investment plan and stick with it. Your portfolio needs to be geared to your investment needs and tolerance for investment risk, as well as your time horizon. You may need to allocate your investments among stocks, bonds and mutual funds, variable annuities, fixed annuities, and unit investment trusts to develop a portfolio suited to your needs. 5. Start today. The most important thing to know about any savings program is that the sooner you begin, the better are your chances for success. You need to put time on your side, to get the greatest possible benefit from compounding. • Karen Holland is a senior investment advisor with KMH Investments & Insurance Group. She may be contacted at 704788-2212 or by e-mail at firstname.lastname@example.org. Securities and advisory services offered through ING Financial Partners, member FIPC. KMH Investments & Insurance Group is not a subsidiary of, nor controlled by, ING Financial Partners. KMH Investments & Insurance Group is located at 233 Church St. N., Suite 202, Concord, NC 28025. ©2007 ING Advisors Network. cb&l • august ‘07
[ assets ]
anuary 2007 marked the beginning of a new era for Cabarrus County tourism with the opening of the Embassy Suites Hotel Golf Resort
With the new hotel and convention center, Average Daily Rates (ADR) and Average Occupancy Rates (AOR) for Cabarrus hotels are soaring. For the first half of 2007, overall ADR were $73.61 and AOR were 66.7 percent, representing five percent and 10 percent increases (respectively) over ADR and AOR for the first half of 2006.
& Spa and the Concord Convention Center. This milestone brought Cabarrus County its first full-service hotel and added 308 guest suites, bringing the county’s total room count to 1948. Additionally, Cabarrus County can now host conventions and major corporate and association meetings.
These additions to Cabarrus tourism have accelerated our county’s already impressive growth as a travel destination. Over the past 10 years, visitor spending – fueled by leisure travelers visiting NASCAR attractions and shopping at Concord Mills – has nearly doubled, from $111.48 million in 1996 to $222.22 million in 2005.
Increases in lodging revenues have generated increases in lodging tax revenues from $1.1 million in 2006-’07 to an anticipated $1.9 million in 2007-’08. With several major tourism developments on the
horizon, lodging revenues are anticipated to be $3.4 million in 2008-’09. This means additional funding for the Cabarrus County Convention & Visitors Bureau’s (CCCVB) destination marketing programs – programs necessary to maximize opportunities created by our industry’s growth. “We have planned aggressive, pro-active and interactive campaigns,” notes DeSales Wagster, CCCVB president and CEO. “In addition to the new convention market, we will engage leisure, sports and group travel markets in new ways that give visitors reasons to come here more often, reasons to stay longer, and reasons to spend more money while they are here. The bottom line is that everyone in the community benefits from tourism dollars.” •
• Six additional staff positions and a new wing for CCCVB offices • Redesign of Cabarrus Visitors Guide with bigger pages, more photos • Trendy color palette for logo and ads: mango, khaki and dusty cobalt • New ad campaign: “200 Miles Per Hour or You Set the Pace” • Leisure ads: Oprah, Southern Living, AAA Go, America’s Best Vacations • National media: RV Xtreme, Hooters Magazine, Road King Magazine, Sports Business • Dominant ad placement in local and regional travel maps • Billy Graham Library tours and Wine & Adventure tours
• More than 21 industry tradeshows throughout the country and in Canada • New features and enhancements for The Dale Trail at Dale Earnhardt Blvd. • A new mobile visitors center going on the road to regional festivals and destinations • Top-quality photos of Cabarrus attractions by nationally-acclaimed photographer • Brand new itineraries and vacation packages • Revamped Pit Pass Cabarrus package • NASCAR Hall of Fame • North Carolina Research Campus • Great Wolf Lodge 400-room resort (pending)
cb&l • august ‘07
CB&L cabarrus business & lifestyles Business
Network ACCOUNTING SOFTWARE GCM Systems, LLC (704) 784-2462 / (704) 782-3510 fax www.gcmsys.com AUTOMOBILE DETAILING M&F Auto Detailing 80 Union Cemetery Rd., Concord, NC 28027 (704) 786-9300
AUTOMOBILE SALES Ben Mynatt Megastore P.O. Box 1390, Concord, NC 28026 (704) 788-2121 / (704) 721-7451 fax www.benmynatt.com
COUNTRY CLUBS Cabarrus Country Club 3247 Weddington Rd. N.W., Concord, NC 28027 (704) 786-3104 www.cabarruscc.org
BANKING SERVICES Cabarrus Bank & Trust 25 Palaside Dr. N.E., Concord, NC 28025 (704) 226-3855 / (704) 262-3910 fax www.cabarrusbankandtrust.com
MARKETING/WEB DESIGN Bullzeye Creative 820 Hamilton St., Suite C-9, Charlotte, NC 28206 (704) 248-2336 / (704) 644-7709 fax www.bullzeyecreative.com
F&M Bank 221 N. Main St., Salisbury, NC 28144 (704) 633-7929 / (704) 633-7049 fax www.fmbnc.com
PROFESSIONAL SPORTS Kannapolis Intimidators P.O. Box 64, Kannapolis, NC 28082 (704) 932-3267 www.intimidatorsbaseball.com
BOTTLED WATER & FILTRATION Clearly Carolina 829 Davidson Dr. N.W., Concord, NC 28025 (704) 788-2216 / (888) 207-0488 toll-free (704) 785-8539 fax email@example.com / www.clearlycarolina.com CHARITIES Muscular Dystrophy Association 484 Williamson Rd., #A Mooresville, NC 28117 (704) 663-1181 / (704) 663-1174 fax www.mda.org
There is no cure for Muscular Dystrophy without YOU! Please join the Muscular Dystrophy Association for our first annual “A Toast to Life” fund-raising event on October 26, 2007 at The Speedway Club. This premiere culinary event will include specialty food tasting from the area’s finest chefs, along with a variety of dessert and beverage sampling, music, auctions and more!
For more information about how you and your company can be involved, please contact MDA at
CHURCHES New Hope Worship Center 452 Brookwood Ave. N.E., Concord, NC 28025 (704) 786-0155 www.newhopewc.org COMMUNITY RELATIONS Cabarrus Regional Chamber of Commerce 3003 Dale Earnhardt Blvd., Kannapolis, NC 28083 (704) 782-4000 www.cabarruschamber.org / www.cabarrusedc.com COMMUNITY WEB SITESTORS/TOURISM ThriftyU.com P.O. Box 820, China Grove, NC 28023 (336) 402-9467 www.ThriftyU.com COPY MACHINES Modern Impressions 5029-B West W.T. Harris Blvd., Charlotte, NC 28269 (704) 597-7278 / (704) 597-4389 fax www.modernimpressions.com
PROSTHETICS Faith Regional Prosthetic-Orthotic Centers 1025 Hwy. 29 N., Concord, NC 28026 (704) 782-0908 firstname.lastname@example.org/faithprosthetics RESTAURANTS Troutman’s Restaurants Highway 601, Concord, NC 28025 (704) 786-9714 Church Street, Concord, NC 28025 (704) 786-5213 W. Franklin St., Mt. Pleasant, NC 28124 (704) 436-9806 www.troutmansonline.com SIGNS Barker Sign Company 4970 Stough Rd., Suite 102 Concord, NC 28027 (704) 782-9272 / (704) 782-9273 fax www.barker signco.com TRAVEL AGENCIES Cruise Planners (704) 947-5522 / (866) 602-5522 toll-free email@example.com www.cruiseplannersgo.com VISITORS/TOURISMSITORS/TOURISM Cabarrus County Convention & Visitors Bureau 3003 Dale Earnhardt Blvd., Kannapolis, NC 28083 (704) 782-4340 / (800) 848-3740 (704) 782-4333 fax www.visitcabarrus.com
ADVERTISERS INDEX Barker Sign Co.............................................................................20
Faith Prosthetic Centers ..................................................................2
Ben Mynatt Megastore....................................................................6
GCM Systems, LLC........................................................................24
Kannapolis Intimidators ................................................................21
Cabarrus Bank & Trust ..................................................................13
M&F Auto Detailing ......................................................................10
Cabarrus Business Showcase ..........................................................26
Cabarrus Country Club ..................................................................14
Muscular Dystrophy Association ......................................................30
Cabarrus County CVB ....................................................................19
New Hope Worship Center ............................................................10
Clearly Carolina ............................................................................25
Cruise Planners ..............................................................................7
Troutman Enterprises ......................................................................9
F&M Bank ..................................................................................32
cb&l • august ‘07