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In addition to a big price increase, Krispy Kreme has a lot of new buyers today on the news that the company has hired Daryl G. Brewster as its new CEO.
Its shares are already up more than 16 percent at $7.46. Volume has nearly quadrupled to 4.6 million shares.
For the past three months, average daily volume has been around 1 million shares. Investors have gradually turned away from the company as its problems mounted and its failure to file a financial report dragged on.
A popular Krispy Kreme message board on the Yahoo site is buzzing with suggestions that many buyers are snapping up the shares so they can sell them “short” to make a profit when the stock drops in a few days – assuming that it does.
In any case, this new CEO is a strong step forward for the company that has been in suspended animation for a couple of years. Brewster comes from Kraft, where he ran its $6 billion North American snacks and cereals division.
“The fact that he comes from Kraft and ran a $6 billion operation, and he's now willing to take on this challenge, is a positive sign," Morningstar analyst John Owens told the Associated Press. "It's also a positive the board has come to the conclusion the restructuring guys have completed what needs to be done and the company is ready to move forward."

Unemployment in the state went down to 4.3 percent in January.

That's down from 5.1 percent in December of last year, marking the largest month-to-month decrease in the N.C. unemployment rate since early 1978.

The state's stats for January also beat out national numbers - 4.7 percent unemployment for the county that same month.

According to the N.C. Employment Security Commission, the largest month-to-month jump in employment increased in the educational and health services sector.

The business blog has been notably blank for the past few weeks, and I'm sure our many readers have just bemoaned the absence of our scintillating commentary.

But, seriously, here's something worth noting. Remember last month, when RadioShack announced it could close up to 700 stories throughout the country? Well, the company said today that it will close 480 locations, including four in the Triad, by the end of the summer or beginning of the fall.

Two of the local stores are in Greensboro - one at 4639 W. Market St. and the other at 4623 High Point Road, said company spokeswoman Jessica Study. The others at are 2645 N. Main St. in High Point and 1033 Hanes Mall Blvd. in Winston-Salem, she said.

Study said these stores will begin holding special sales in May and likely will close up shop by August 1. The company hopes to direct customers to higher-performing stores, where RadioShack will expand its offerings to include bluetooth items and other new products, she said.

RadioShack currently 29 stores in Triad area. The rash of store closings comes on the heels of a notable drop in the company’s profits in the fourth quarter of last year.

The state unemployment rate stayed low in February, at 4.6 percent, but went up .3 percentage points from January, according to data released by the N.C. Employment Security Commission today.

During the same period, the national unemployment rate went up .1 percentage points, from 4.7 to 4.8 percent. This is the second consecutive month that the state rate has hovered below the national one.

The Southside Neighborhood project continues to expand, according to the Web site for the Greensboro Contracting Corporation.

The infill revitalization development, brainchild of GCC President Bob Isner, is adding on "The Townhomes on McAdoo," on the corner of Victor and McAdoo Streets. The townhomes will have two bedrooms, 2.5 bathrooms, garages, front porches and private yards - at prices starting at $210,000.

Another new component will be the "Arlington Street Lofts," more urban-styled, open townhomes. Prices on these units, which will feature jetted bathtubs and 20-foot balconies, start at $269,700.

You can see floor plans on the GCC Web site.

I'm in my 20s, on my own, and I recently watched a whopping chunk of this month's budget get eaten by my car insurance payment. Yeah, it's painful, but when you're tallying up those expenses, you just have to shrug it off as a necessary evil.

Unless, I guess, you're in the group of young singles - 20 percent - who, according to a recent survey, said they'd let their auto insurance policies lapse to save money.

On this same survey, from the National Association of Insurance Commissioners, 18 percent of young people reported that they'd decline employer-provided health insurance to put money in the bank, instead.

OK, I'm all for socking away some cash for unplanned expenses, a rainy day, or what have you. But isn't that a little ridiculous?

The Better Business Bureau of Central North Carolina is looking to give scholarships to rising high school seniors.

Students can apply for the 2006 Student Ethics Scholarship Award, a $1,000, one-year scholarship, through April 1.

Applications forms are on the BBB Web site.

The BBB is a nationwide network that aims to connect businesses and consumers, educate consumers about business and promote ethics.

Everybody's busy, especially the people who lead businesses.
So the thought of taking a week out to do some serious leadership training can keep many of these folks from learning ways to become more effective leaders -- and time managers.
Ken Davis, a psychologist with Pegasus International in Greensboro, says that the company may have a solution for the time-crunched executive: A two-day leadership program.
Called 360 Squared, Davis and David Hammer developed the program.
"Many companies don't take advantage of the benefits that leadership training can provide because they can't afford for key executives to be out of the office for a week at a time," which is the typical amount of time that many leadership courses demand, Davis said.
The program uses brain science and personality analysis to focus quickly and sharply on areas where an executive needs to change. Preparation that includes feedback from peers, employees and others, helps jump-start the two-day sessions.
Pegasus International can tell you more at 379-9828.

Looks like Piedmont Natural Gas is slowly making progress at getting its act together.

You might recall that, last month, officials from the gas company, which serves the Triad, had to stand before the N.C. Utilities Commission and explain what amounted to a customer service mess - long waits on service lines, too many estimated gas bills, and a slew of angry customers calling state regulatory officials to complain.

The company has been filing regular reports on its call center with the state, and it appears there's been some improvement in Piedmont's service during the past month. According to the most recent report, Piedmont answered nearly 95 percent of all customer calls from March 20 to March 26 - up from 81 percent of calls during the same week in February.

Got a message in my e-mail inbox this morning that I thought I should pass along. The Duke Energy-Cinergy merger means Duke's getting a new Web site.

Per the e-mail, www.dukepower.com will become www.duke-energy.com in early April. The old site will automatically redirect customers at that time.

Here's a preview of the new site.

The N.C. Association of Realtors reported today that existing home sales in the state stayed steady in February and actually were up 17-percent month-over-month compared to that time last year.

The association reported that 9,354 existing homes sold in February, compared to 8,399 in January of this year and 7,981 during February 2005. Total sales dollars for February were a little more than $1.8 billion, with the average existing home sales price - about $195,000 - up 1 percent over January.

Statewide sales for the first two months of this year, the association reported, are up 15 percent over the same period last year.

Predictably, the strongest home sales continue to take place in the mountains and coastal regions of the state, with Brevard, Goldsboro and Greenville leading the pack.

The Triad saw a 20 percent increase in sales of existing homes from January to February and posted a 13 percent increase in sales compared to February 2005. The average home price in the area was up 3 percent over February 2005, and total sales dollars for February were up 16 percent here compared to the same month last year, according to the association's detailed report.

The average sales price for existing homes here in February was $163,063, and total sales clocked in at more than $187 million.

Well, the numbers are in, and it looks like the Greensboro/High Point metro area rested pretty much in the middle last month in terms of unemployment rates throughout the state.

Unemployment in the county went up slightly last month - from 4.6 percent to 4.9 percent, or an overall change of about 6.5 percent.

The county remains one of 35 in the state with a rate at or below 5 percent, keeping company locally with Forsyth County. Rockingham and Alamance counties continue to post unemployment rates above 5 percent, but no local county saw much more than a 7 percent change from January to February.