News-Record.com

A handful of area shopping centers changed hands this week as part of a merger deal between two real-estate companies.

Ohio-based Developers Diversified took ownership of Adams Farm, Golden Gate and phases one and two of the Shoppes at Wendover Village in Greensboro, said Darryl Crater, a spokesman for Inland Retail Real Estate Trust. The Ohio company also took over Forestdale Plaza in Jamestown.

The shopping centers were part of Developers Diversified's $6.2-billion acquisition of more than 300 properties from the real estate investment trust, a division of the big-name Inland Real Estate Group of Companies.

Standard & Poor’s Rating Services has placed Furniture Brands International, the nation’s largest manufacturer of home furnishings, on its CreditWatch with negative implications.

That means S&P will review Furniture Brand’s credit rating to determine if it needs to be lowered.

Greensboro-based Tanger Factory Outlet Centers will give one shopper a shot at tickets to one of this year's final "American Idol" shows in Los Angeles.

Home prices in the Greensboro area rose 3.6 percent between the final quarter of 2005 and the end of last year.

But home prices in the Greensboro-High Point Metropolitan Statistical Area held fairly steady between the third and fourth quarters of 2006, according to a report released Thursday by the Office of Federal Housing Enterprise Oversight.

The report, which also ranked states based on housing-price appreciations, found North Carolina in 13th place for the greatest growth in prices during the past year.

North Carolina recently nabbed the last spot on a top 10 list of states that should be the best climates for small businesses this year.

The annual list, from Illinois-based payroll provider SurePayroll, ranks states based on past strong small-business growth. North Carolina made this year's list for growing its pool of small-biz employees during 2006.

K. Hovnavian Homes has opened a model house at Pearman Estates, the homebuilder's single-family project off Haw River Road in Oak Ridge.

The decorated model includes granite countertops and hardwood floors.

Pearman Estates is a collection of 31 homes, ranging from 2,800 to about 4,600 square feet and priced starting at about $373,000 and climbing above $470,000. The two-story brick homes have between three and five bedrooms and 2.5 or 3.5 bathrooms.

Buzz and its fellow blogs here will be taking a bit of a hiatus Wednesday afternoon.

We'll be moving to a new blog hosting environment, and readers won't be able to reach us during the transition. But never fear - we'll be back, at the same URL, shortly.

Thanks for reading, and thank you for your patience as we make the switch.

North Carolinians have failed to collect more than $48 million in tax refunds dating back to the 2003 filing year.

The IRS reported today that about 48,100 of the state's consumers did not file federal income tax returns for 2003, even though the federal government owed them money. More than half of these people are owed more than $530, according to the Internal Revenue Service.

Consumers who want to collect their cash have until April 17 to file a federal return for 2003.

Fortune named Greensboro's VF Corp. this week to the magazine's 2007 list of the most admired companies in America.

VF was the only Triad firm to make the list and ranked third among apparel companies nationwide - topped by Nike and Polo Ralph Lauren, in that order.

Consumer-focused Angie's List offers some tips this morning for March Madness fans looking to pick up a high-definition TV set.

Follow the jump for details on different types of sets and how to make your choice simpler.

Omega Sports plans to expand outside North Carolina, branching out to South Carolina and Virginia with some of a crop of 20 store openings planned during the next several years.

The Greensboro-based athletics retailer recently opened its fourth store in the Charlotte area, at the Rivergate Shopping Center in western Charlotte. The chain also has announced plans for a store in Wilson.

Omega has a Greensboro store at Oakcrest Center on Battleground Avenue.

GREENSBORO — Sanmark Limited, a Chinese company with U.S. headquarters in Greensboro, was named one of the top entrepreneurial companies in its hometown of Dalian, China, the company said Wednesday.
An independent government committee chose Sanmark and nine other companies from a group of more than 1,000 as one that most embodies the ideals of the entrepreneurial spirit. Companies were judged on innovation, technical expertise, progressive corporate culture, social responsibility and rapid growth. Those selected included corporate giants like China Petroleum and leading companies in real estate, banking, and utilities.
Sanmark USA is based in the Nussbaum Center for Entrepreneurship. The company manufactures and supplies high quality nutritional oils and specialty lipids for the global food, dietary supplement, cosmetic and pharmaceutical industries.

Homegrown grocer The Fresh Market is celebrating its 25th birthday today.

The Greensboro-based retailer opened its first store at Lawndale Drive and Pisgah Church Road here on March 8, 1982. The grocer announced earlier this year its plans to relocate its original store to a neighboring lot, where local developer Koury Corp. is building a new shopping center to replace Lawndale North.

The Fresh Market, a private grocery company, has more than 60 stores in 14 states and employs nearly 7,000 people.

As part of the company's 25th birthday celebration, the Fresh Market is asking customers to submit recipes for a 25th Anniversary Cookbook planned to show up in the stores before the holidays. Shoppers can submit recipes online or at Fresh Market stores until April 30. The grocer will contact winners, including 25 people who will receive a prize package, by May 31.

The state's unemployment rate dropped to 4.6 percent last month, to its lowest level since April.

Dropping from 4.9 percent in December, North Carolina's unemployment rate in January matched national unemployment for the first time since July, according to the state's Employment Security Commission.

About 4.3 million people were employed in the state last month, as total seasonally adjusted employment grew by more than 8,700 people. About 208,100 people filed for unemployment during January. Overall employment in the state has grown by nearly 108,000 workers since January 2006.

The state will release a breakdown of unemployment, by county, March 21.

Friday update: Friendly marketing just called. They say the launch date of the wireless at the shopping center might be pushed back, now, because they're working to make sure the Wi-Fi network is as fast as possible. Stay tuned.

Free wireless Internet access will debut at The Shops at Friendly Center and the neighboring Friendly Center next week.

Free Wi-Fi will be available from 8 a.m. to 10 p.m. every day at the shops, where the wireless network can accomodate as many as 200 users at one time. Web surfers with laptops can log at the shopping center for up to two hours each day.

After the jump, check out a map of the wireless coverage area.

International Textile Group plans to purchase a German producer of air bags and seat-belt fabric.

The Greensboro company has agreed to pay $84 million in stock to buy BST Safety Textiles, a German company that employs 1,250 people worldwide.

The deal should close early next month. BST, which saw sales approximately $280 last year, plans to grow its U.S. operations through an expansion of ITG's plant in Cordova, in Richmond County. That expansion will allow the Richmond Plant to produce side curtain airbags for cars and could create 200 jobs during the next three years.

A Greensboro marketing agency has picked up a contract to market athletic programs for an Ohio university.

The Sales Factory, which does some athletic marketing for N.C. State University and works with brands including Tylenol PM and VF Corp.'s Wrangler, will take on the image of sports programs at the University of Akron. The agency's efforts will include direct marketing, bolstering season ticket sales, fundraising and working with Akron alumni.

Other Sales Factory clients in higher ed include The University of Georgia School of Pharmacy, Vanderbilt University, the University of Tennessee, Bennett College and the University of South Carolina.

The state's consumers have reported more than 100 security breaches since Dec. 1, 2005, according to data released today by the N.C. Department of Justice.

These breaches, ranging from stolen computers to data thefts by employees and contractors, have impacted more than 500,000 consumers, the state's attorney general reports. Individuals involved saw data and records containing personal information, such as their Social Security Numbers or bank account information, lost, stolen or displayed for public consumption.

Nearly half the reported incidents involved the financial services and insurance industries. Nearly 10 percent of them came from reports by state and local government agencies, which have been required to report breaches since Oct. 1.

The breakdown ... after the jump ...

The Greensboro/High Point area saw the greatest number of new and expanded companies last year among metropolitan areas nationwide boasting populations from 200,000 to 1 million.

"Site Selection" magazine is reporting that the Greensboro area saw 33 such corporate projects during the past year - eight more than the Raleigh/Cary area, which ranked sixth on the magazine's breakdown of comparably sized areas.

The ranking was part of the magazine's report on the top 10 states for corporate openings and growth last year.

The Market Authority is trying something new this spring thanks to the popularity of Internet video sites like YouTube.

Brian Casey, president of the High Point Market Authority, said they have partnered with Geffen Productions to create an at-market television show.

The show, which will be shown on televisions in hotel lobbies and around the market, will feature different segments to get the word out about furniture trends and other related messages.

Casey said he hopes the videos will then be available to stream via the Internet once the market has ended.
--- From Guilford Record South reporter Jeff Hahne

GREENSBORO — Honda Aircraft Company said Thursday that it has deals with three companies to become major component suppliers for its HondaJet, which will be manufactured at Piedmont Triad International Airport.
The three companies are GKN Aerospace, Avcorp Industries and Garmin International.
GKN, of Tallassee, Ala., will supply fuselage structural sub- assemblies for the plane, Avcorp, of Delta, British Columbia, Canada, will supply wing structure sub-assemblies and Garmin, of Olathe, Kan., will provide an advanced custom avionics system.
The companies are currently planning to do all the production at their plants and ship the products to Honda, but the president of Avcorp, Paul Kalil, told the News & Record that the company might consider opening an operation in Guilford County if Honda’s venture goes well.

Biz Buzz is grateful for our loyal readership, and rather surprised at the outporing of interest in Market America's call for new Web designers to help it build its new Web site.

The News & Record published a story on March 10 (not posted) about the company's plan to hire 250 well-paid workers and for a moment we thought we were about to enter the human resources business. We got at least 10 phone calls and five resumes from people assuming that we would do the hiring for the jobs. Thanks for the vote of confidence, but Biz Buzz had to be honest and forward those queries on to Market America.

It does show, however, that the people in our region who are trained in information technology want great jobs, and that there probably aren't enough of them right now.

GREENSBORO -- The Greensboro Economic Development Alliance presented attorney Charles E. Melvin Jr. the Stanley Frank Lifetime Achievement Award this morning at its Annual Investor Meeting at the O. Henry Hotel. The award, given since 2004, is named after the late Stanley Frank one of Greensboro’s most celebrated businessmen and philanthropist.

Melvin, a lifelong resident of Greensboro, has served on numerous boards including the Greensboro Economic Development Alliance, Greensboro Chamber of Commerce, Greensboro Development Corporation, Downtown Greensboro, Greensboro Business Center, Guilford Technical Community College Foundation, The Salvation Army and the Triad Real Estate and Building Coalition. Melvin practices law for Smith Moore LLP specializing in business, real estate development, land use and international law.

“Charlie is most deserving and is an excellent choice for this award,” Dan Lynch, President Greensboro Economic Development Alliance, said. “His work in economic development epitomizes the dedication and commitment we so admired in Mr. Frank.”

A member of the Greensboro Partnership, Greensboro Economic Development Alliance’s mission is to help create of high quality jobs, attract new capital investment, retain and expand existing businesses, improve per capita income and generally improve the quality of life in Greensboro and Guilford County.

A planned movie theater near Four Seasons Town Centre will cost more than $8.1 million to build and comprise nearly 78,600 square feet, according to city building permits.

The permits show that Greensboro's Koury Corp. has hired Baton Rouge, La.-based Mapp Construction to build the theater, part of a new retail development planned on Vanstory Street near the mall Koury built and then sold a few years ago.

As previously reported by the News & Record, a traffic study for the project filed with the city shows 82,550 square feet of retail, two 7,000-square-foot restaurants and a 3,418-seat theater - about the size of the Grande at Friendly Shopping Center.

Koury has not yet announced details of the Vanstory project, including what theater might located there. Mapp's clients include Southern Theatres, a chain with locations throughout the region, including the Grand 18 in Winston-Salem.

Guilford County's unemployment rate rose to 4.9 percent in January from 4.5 percent in December, according to a report from the state's Employment Security Commission.

And Guilford wasn't alone. Unemployment rates increased in 98 of the state's 100 counties during January.

"Not seasonally adjusted employment decreased 1.3 percent during the month due to students leaving part-time holiday jobs, construction slowdowns due to the weather and other seasonal factors," ESC Chairman Harry Payne said in a news release.

Payne tempered the bad news, however, by noting that statewide employment grew by more than 101,750 workers during the past year.

More details, after the jump ...

Friendly Center, which is celebrating its 50th anniversary this year, plans to plunge headlong into the celebration this weekend by participating in the Human Race.

The race, an annual 5k run and walk event organized by the Volunteer Center of Greensboro to benefit an array of area nonprofits, will include participants from Friendly owner and developer Starmount Co., as well as employees of merchants throughout the center.

Look for coverage of the 50th anniversary in the News & Record as the official anniversary, August 1, approaches.

Rockingham County Schools are way wired.

The local division of Time Warner Cable completed its extension of a high-speed, business-class Internet access to the school system last month, the company announced today.

A fiber-optic network has taken the place of the school district's old cable-modem network, which connected all the system's schools and administrative offices. The new Web system extends to 30 locations, including the district's media and technology office in Reidsville.

The school system decided to upgrade its online access last fall. The high-speed network will give teachers greater ability to use Web-based technology and educational software.

The continuing protest against products from Smithfield Packing will make its way to Greensboro on March 31.

According to a Thursday announcement, protestors plan to meet at Harris Teeter on West Market Street that Saturday to call for an end to the grocer's carriage of Smithfield pork products from the supplier's facility in Tar Heel. The protest will run from 11 a.m. to noon.

Opponents of Smithfield announced their plans to boycott Harris Teeter earlier this year. Smithfield's pork processing plant in Tar Heel has been at the center of accusations of worker abuse and dangerous conditions for months.

Harris Teeter has previously tried to stay out the dispute, stating that any discussions should be between Smithfield and its workers. The grocer's stock of Smithfield products includes its house-brand bacon.

The folks in marketing for Friendly Center have informed me that wireless Internet access is finally up and running.

Today through Sunday, shoppers can register to win a laptop when they log onto the Wi-Fi network at either of Starmount's Friendly shopping centers or visit the Web sites for Friendly Center and The Shops at Friendly Center.

Head here for a map of the wireless and details.

GREENSBORO - Dr. Albert N. Link, professor of Economics at the Bryan School of Business and Economics at The University of North Carolina at Greensboro, has been appointed to a United Nations commission.
Link will be the U.S. representative on the U.N. Economic Commission for Europe where he will join a team of experts to evaluate the innovation and competitiveness policies of the European Union. He will also be the spokesperson for U.S. innovation policy.
In addition to the U.N. appointment, Link has been named vice-chairperson for the commission's policy initiative. He will assist in formulating an agenda of international policy issues. The Commission's meetings will be held at the U.N. Mission in Geneva, Switzerland, beginning this summer.
Link is a researcher in the field of innovation policy that uses economic theory and empirical analyses to evaluate the implications of science and technology. He has been an advisor to the National Academy of Sciences and has served as an advisor on science and technology to the governments of Austria, Canada, France, Germany, Korea and New Zealand.

Existing home sales in the state fell 6 percent last month compared to February 2006, but you wouldn't know it from looking at the Triad numbers.

Sales of existing homes here were up 5 percent last month compared to a year before, while the average home price in the Triad increased 4 percent from February '06 to February '07 - to $168,796. Total sales dollars in the region were up 8 percent last month compared to a year before and 13 percent compared to January. Existing Triad home sales totaled more than $200 million in February.

The good news, state-wide, is that sales numbers and dollars rose from January to February, when North Carolina saw about 9,000 homes snapped up by buyers. Total sales dollars in the state last month reached more than $1.9 billion, and the average price for an existing home was up 10 percent compared to a year earlier.

Check out the full report online via the N.C. Association of Realtors.

Earth Fare's local store raised more than $5,000 for Greensboro Beautiful during the grocer's March 15 "Re-Grand Opening" celebration of its recent renovations.

The supermarket, located at 2965 Battleground Ave. in Greensboro, hosted a benefit party last week to showcase a remodeled store that includes expanded prepared foods, a made-to-order pizza station, a sandwich and panini station and a larger salad bar. The store also has doubled the size of its produce section and added grocery aisles, an olive bar and a wider selection of beer and wine.

Proceeds from the March 15 party went to Greensboro Beautiful, a local nonprofit group dedicated to conservation efforts and education. Earth Fare's local marketing rep says about 1,200 people showed up throughout the day to check out the store makeover and sample food, beer and wine.

Greensboro is one of three test cities for a new online service that melds tax software with help from a professional yet allows clients to file their returns without leaving the house.

TurboTax is trying out its new program here, in Fresno, Calif.; and Tulsa, Okla., a representative told me this week. The product, Personal Pro, is accessible through the TurboTax Web site and allows taxpayers to prepare their own returns for review and electronic filing by a professional.

The cost to prepare a federal income tax return using the service ranges from $60 to $150, depending on the forms you need to file. Each state return - and taxpayers can submit up to three using Personal Pro - costs $30. Taxpayers who use the service will have on online conversation and a phone conversation with a tax preparer, who then levies the preparation fee when the filing process is complete.

TurboTax is a product of Intuit, the market leader in small-business accounting and tax-prep software.

LSB Bancshares and FNB Financial Services Corp., in the process of merging to produce a $2-billion regional bank based in Greensboro, announced a planned post-merger executive team today.

As announced last month, Robert F. Lowe, LSB chairman, president and chief executive officer, will act as chairman and CEO of the company and chairman of the merged bank. FNB's current president and chief exec, Pressley A. Ridgill, will be president and chief executive of the regional bank after the merger, which is expected to close by the end of the third quarter.

The banks have not yet named a regional president for the Greensboro area.

I'm of the mindset that there's no such thing as a stress-free tax season.

Perhaps that has something to do with growing up with an accountant for a mother. She still does my taxes - for free - but asks for so much detailed information that I have to, with shame, admit how disorganized I am (think piles of paper in empty beer boxes strewn about my home office).

That's why I cringed when I saw tip No. 1 a recent IRS list of ways to reduce tax-time stress: "Don't procrastinate, and organize your tax records."

This weekend, I'm trying to take that order to heart. My goal: Beat last year's finish line of e-filing the night before the return was due.

If you're like me and have yet to file, you might find that first tip, and some of the following, helpful ...

A full-service restaurant will open next month at the Piedmont Triad Farmers Market.

The Moose Cafe, a restaurant at the Asheville-area farmers market, plans to expand with a branch at the Colfax daily market that serves the Triad. The restaurant, which could employ about 60 local people, will be open for breakfast and lunch seven days a week and for dinner on Friday and Saturday nights.

Try eBay. But be warned: You might pay a premium.

That's part of this story from the Wall Street Journal's weekend edition. The gist: People are buying hot, often celebrity-designed clothing and accessories at Target, H&M and other discount stores and then putting them on online auction sites.

One silk bustier top from the temporary Target line by Proenza Schouler sold for more than seven times the original price, the Journal reports.

It's not surprising that competition is fierce for some of these discount designer duds. Last fall, it took at least four trips to different Target stores to find the Isaac Mizrahi leopard-print shoes I'd been looking for in the right size. Target didn't have them online - but I just bet that eBay did.

Greensboro's Notion Music has announced that a London man won the company's first music challenge competition.

Inal Bilsel, 23, will record his composition with the London Symphony Orchestra at Abbey Road Studios and will receive a copy of Notion's composing software and a $2,500 prize.

Bilsel's winning piece was titled "Nilay's Dream." The company describes it as "an orchestral overture revealing his influences in atonal and jazz music."

The three finalists within the Notion competition hailed from the UK, Australia and Canada. All three will receive a copy of Notion's software and $1,000.

The company plans to release details about its next composing competition in September.

VF Corp. has named Aidan O'Meara to the position of president for the Asia Pacific market.

O'Meara, 44, will step into the role May 1 and oversee growth of Greensboro-based VF's various clothing brands - including Wrangler and Lee - throughout Asia. He will be based in Hong Kong and will manage licensing for other brands including The North Face, Eastpak and JanSport.

According to the company, O'Meara has worked with VF's international jeanswear division since 1992. He has been president of VF's Jeanswear-International coalition since 2005.

VF hopes to see international revenues make up 30 percent of the company's total revenues.

Eden-based TigerTek Industrial Services, which specializes in repairs for electric motors, pumps and hydraulic equipment, has been awarded a three-year maintenance contract by the U.S. Navy.

To meet the Navy's demands, TigerTek plans to open a satellite facility in Norfolk, Va., where the company will repair electric motors and fans on about 35 vessels based there. TigerTek also hopes to hires five to 10 additional repair technicians at the company's Eden facility to support the additional business, company President Peter Mitchell said today.

Liberty Property Trust recently renewed leases with five tenants at the real estate investment trust's area office and industrial properties.

Washington Street boutique Vanecci Shoes has set the final date to shut its doors, joining a procession of retailers streaming out of downtown.

Vanecci, which has been open for two years at 100-C W. Washington St., will close Saturday. Everything in the shop, which carried shoes, clothing and accessories, is on sale - for cash only, according to the owners.

The boutique is open today, Thursday and Friday from 5 p.m. to 9 p.m. and open Saturday from noon to 5 p.m.

The closing doesn't come a surprise. Vanecci owner Demetrius Short has talked about plans to shut down for months. His decision follows on the heels of other downtown closings, including Thai It Up, men's shop Source 230, boutique LeVal's, clothing store Pod and Kristine's Boutique.

North Carolina's unemployment rate hit its lowest level in six years during February, but that didn't have a huge impact on the Triad.

Sure, the region's jobless rate dropped from 5.2 percent in January to 5 percent last month, but the Triad still lags behind the state as a whole - where the unemployment rate fell slightly to 4.5 percent in February. In Guilford County, the jobless rate rose last month to 5 percent, from 4.9 percent in January, according to reports from the state's Employment Security Commission.

Guilford was one of 15 counties that saw such hikes last month, as jobless rates fell in 69 counties and remained steady in 16. Rates fell in Alamance, Forsyth and Randolph counties and rose in Rockingham County.