June 12, 2022
Hello, Sunday. It's Michael, who has no plans to join the Saudi-backed LIV Golf Series.
Weather: 91° and sunny with a slight chance of rain.
🎂 Happy birthday to Axios Charlotte members Jenny Martella, Addison Schroeder and Richard Taich.
- And a special birthday wish to our own Ashley Mahoney, one of the hardest workers in the business, on her 30th today.
🔥 Situational awareness: ICYMI, Ashley has the details on York County suing Panthers' owner David Tepper's businesses over their "failed vanity project." Go deeper.
Today's newsletter is 567 words — a 2-minute read.
1 big thing: ⬇️ Make the prices fall
Charlotteans remain more optimistic about the economy than people in other cities, but hope is waning as prices on just about everything rise.
- That's the takeaway from a spring McKinsey and Ipsos survey of about 1,000 people in the Charlotte-Concord-Gastonia Metro region.
Driving the news: Friday brought news that inflation accelerated 8.6% from May 2021, the fastest pace in 40 years, Axios' Courtenay Brown reported.
- North Carolina's average price was about $4.67, while Mecklenburg County's was $4.60.
- If that weren't enough, there's a pending sriracha shortage.
Why it matters: Gah! Inflation is starting to wear on people here and around the country.
The big picture: Every six months, McKinsey and Ipsos survey Americans about their perceptions of the economy. The most recent results, published in late May, show sentiment across nearly all metropolitan regions has fallen sharply.
- Charlotte's economic optimism ranked 104 on a 0–200 scale, 7 points higher than the national average but 3 points lower than last year.
- Of the 17 major metropolitan areas surveyed, only Washington, D.C., Atlanta and New York had better scores.
By the numbers: 63% of Charlotte-area respondents said they're spending more on groceries, and 48% said they're spending more on utilities.
- Only 58% of Charlotte respondents report that child care is affordable.
Reality check: As interest rates rise, Wyndham Capital Mortgage is set to lay off 48 employees at its local headquarters near SouthPark this summer, the Charlotte Observer reports.
- Wells Fargo, Movement Mortgage and Better.com have also laid off employees recently, the Observer noted.
The bottom line: It's hot and expensive out there. Give each other grace, because you never know what the next person you encounter is dealing with.
💼 Fresh openings from our Job Board
If you're on the hunt for a new job, here are 23 to get you started.
- Director - Admissions and Recruitment at Atrium Health. Apply.
- Summer Internship at Social Ape. Apply.
- Sales Designer at Closets By Design. Apply.
- Policy and Advocacy Manager at Sustain Charlotte. Apply.
- Community Outreach Internship at For Charlotte. Apply.
- Executive Director at Mosaic Development Group. Apply.
- Science Media Producer at Insurance Institute for Business and Home Safety (IBHS). Apply.
- Human Resources Business Partner at YMCA of Greater Charlotte. Apply.
- Office Coordinator at FlexCare Medical Staffing. Apply.
- Marketing & Events Manager at Coles of London. Apply.
- Marketing Director at YMCA of Greater Charlotte. Apply.
- Philanthropy Administrative Assistant at Charlotte Latin School. Apply.
- Compliance & HR Coordinator at First Tryon Advisors. Apply.
- Strategic Marketing Copywriter at YMCA of Greater Charlotte. Apply.
- Accounts Payable and Accounting Specialist at Hopper Communities. Apply.
- Director - Enterprise Tax Services at Atrium Health. Apply.
- Assistant Vice President for Stewardship and Legacy Giving at Foundation For The Carolinas. Apply.
- Registered Nurse Atrium Health At Home Union at Atrium Health. Apply.
- Assistant Director, Advancement Communications at Queens University of Charlotte. Apply.
- Registered Nurse, Atrium Health Transfer Center at Atrium Health. Apply.
- Assistant Property Manager- Office at Beacon Partners. Apply.
- Director, Marketing & Communications at Movement Mortgage. Apply.
- Associate, Global Licensing and Distribution at Hearst Media Production Group, LLC. Apply.
Want more opportunities? Check out all openings on our Job Board.
Hiring? Post a job.
🔥 Hot Job
Summer Internship at Social Ape.
- Company overview: Marketing company producing creative content for clients to build brand awareness and produce results.
- In this role: Create content for Social Ape clients and attend events with the marketing teams.
- Must-have: Proficiency with all major social media platforms and ability to consistently meet deadlines.
Interested? Apply here.
2. ⚡ Biz lightning round
🍑 Local peaches are going to cost more this summer, too, our news partners at WBTV report.
🏗 Charlotte's commercial real estate market appears to be settling down after a blockbuster 2021. (The Charlotte Ledger)
💰 Fencroft Capital recently spent $24 million to purchase 332 W. Bland St. — a 100-year-old adaptive reuse property in South End that houses Lost & Found, Slingshot, Ruby Sunshine and Resident Culture. (CBJ)
🏡 The West Charlotte Community Land Trust purchased 4 acres off of West Boulevard and plans to build 120 apartments for people 55 and older who make between 30%–80% of the area’s median income. (WSOC)
👏 Former Charlotte Observer reporter Jonathan Jones has been promoted to lead NFL Insider for CBS Sports' platforms. (Paramount)
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3. Another city's plans to cap an interstate
Trigger warning for Charlotte's urbanists ... Down in Dallas, Texas, they're preparing to build a park over a highway.
- Southern Gateway Park will span 5 acres across Interstate 35E and cost about $170 million, Axios' Tasha Tsiaperas writes.
Why it matters here: Charlotte's leaders, boosters and urbanists have wanted to put a cap over I-277 between Uptown and South End for at least two decades.
- But it remains on the "wouldn't it be nice if this would happen?" list because it falls below priorities like affordable housing and economic mobility, architect David Furman told Axios' Emma Way last year.
Yes, but: In Dallas, they're being intentional about where the cap goes. The deck park would stitch together a historically Black area of southern Dallas that was gutted by the interstate's construction in the 1960s, Tasha writes.
🙏 A quick note to thank everyone who submitted names of Gen Xers changing Charlotte last week. Sorry that I haven't responded to everyone — our house got slammed last week by a certain virus that's made headlines over the past 27 months.