Carolina Pad expands distribution chain

Carolina Pad and Paper Co. of Charlotte will acquire some of the assets of Libretto Holdings, a New York manufacturer of stationery products.

Carolina Pad and Paper, which sells school and office products, says Libretto’s retail focus will add specialty markets and department stores to its retail channels.

In addition, the acquisition allows Carolina Pad and Paper to increase its distribution in Europe.

Financial terms of the agreement weren’t disclosed.

“We are excited about the opportunities to expand our consumer base and increase our international retail reach,” says Clay Presley, president of Carolina Pad and Paper.

The acquisition increases Carolina Pad and Paper’s brand portfolio with the addition of several internationally recognized names, including Designers Guild, Orla Kiely, Fabrica and Christian Lacroix. Libretto develops stationery and accessories on behalf of those brands.

Carolina Pad and Paper is a supplier of school and office products. The company has offices in Hong Kong and Shanghai, China.

Source: Charlotte Business Journal

General Dynamics unit lands $150M contract

General Dynamics Armament and Technical Products has received a contract valued at more than $150 million to produce armor tile sets for the Stryker family of military vehicles.

The tiles fasten to the exterior of the vehicles, allowing them to better withstand hits from anti-armor munitions, including rocket-propelled grenades.

The contact was awarded by sister company General Dynamics Land Systems-Canada.

Deliveries are expected to begin in March.

Charlotte-based General Dynamics Armament and Technical Products makes weapons systems, biological- and chemical-detection systems and mobile-shelter systems. It is a division of Virginia-based General Dynamics Corp. (NYSE:GD).

Source: Charlotte Business Journal

Economists see modest rebound in 3Q

A panel of 45 U.S. economists expects a “modest” economic rebound to begin in the second half of 2009, picking up steam in 2010.

According to the National Association for Business Economics, “The panel … (predicts) positive, albeit modest, growth in the third quarter, followed by steady improvement thereafter. On the whole, however, the economic rebound lacks luster. Real GDP growth over the second half of 2009 is expected to average a well-below-trend 1.2 percent pace.”

The forecasters say growth in 2010 “is slated for a return to near its historical trend, with real GDP rising 2.7 percent on a fourth-quarter-to-fourth-quarter basis. … (But) next year’s expected growth in GDP would be considerably more moderate than the typical rebound following a steep decline.”

The economists say labor conditions nationwide “are expected to deteriorate further, with additional, but decreasing job losses through year end.”

They predict the nation will have lost 4.5 million jobs by the end of 2009, driving the unemployment rate to 9.8 percent. But they say the rate should ease to 9.3 percent by the end of 2010.

The NABE Outlook report presents a consensus of macroeconomic expectations from a panel of 45 professional forecasters. The survey was conducted April 27-May 11.

Source: Charlotte Business Journal

Century-old family business in Morristown folding

After a century of ups and downs, a Main Street Morristown landmark is falling victim to the economy.

The business was founded in 1908 by Lynn Sheeley as Lynn Sheeley Music Company. He passed it down to his son-in-law and it became Carlisle Music in 1977.

“Business was very good,” says former owner Tom Carlisle.

The 94-year-old hoped this day would never come. “I certainly didn’t think my family would be the one to close it. I hate it.”

His daughter, Carole Jones, store manager for 30 years, says sales have been slumping the last 18 months.

“I think it’s been a combination of Internet sales and the larger chains,’ Jones says.

In her Grandfather’s day, she remembers the store for its large record collection.

“For Christmas and birthday presents, we always got the records that didn’t sell so I had the world’s largest collection of bagpipe albums,” Jones says.

During her father’s era, the store was popular for pianos.

“We had four floors packed full,” Carlisle says.

Most recently, the store was known for its sheet music inventory, which is quickly dwindling in the clearance sale.

For the time being, students continue their lessons upstairs, but the end is coming soon and everyone can feel it.

“I’m going to start crying here, to know that you’ve been a part of helping someone have that love of music,” Jones says.

“A heartfelt thank you to all the wonderful friends we’ve made through the years,” Carlisle says.

The family is planning a closing celebration for the final day in business.

They invite all their current and former customers to come and say goodbye on Saturday, May 30, from 10:00 a.m. to 1:00 p.m. at 109 East Main Street in Morristown.

Source: WATE

Tenn. unemployment rate reaches 9.9 pct in April

The state unemployment rate jumped to 9.9% in April, the highest it has been in 25 years, according to a Department of Labor and Workforce Development report.

The report released Thursday shows Tennessee’s unemployment rate, which was 9.6% in March, is higher than the national unemployment rate of 8.9%.

Tennessee’s April rate a year ago was 6.0%.

Commissioner of Labor & Workforce Development James Neeley says the state has more job losses in manufacturing, wholesale and retail distribution than the national average.

The state’s manufacturing industry is down 40,500 jobs from April of last year.

Source: WATE

Will thousands of jobs, new rail terminal come to Jefferson Co.?

A new rail terminal and thousands of jobs could be coming to Jefferson County. The proposed site would be off Highway 11E just outside New Market.

Developers want to build what’s called an inter modal and logistics park where cargo would be moved from trains to trucks.

The project would represent a $133 million investment and could create thousands of jobs.

However, many residents say they don’t want it in their back yards.

The farming community already gets lots of train traffic, but neighbors say with the new facility, there would be more trains, more trucks and more noise, not to mention it would require many of them to give up a portion of their land.

Linda Finchum is one of those who fears the beautiful scenery will soon be a thing of the past. “Well we don’t want to sell. We want to live here.”

Finchum’s husband’s family has lived on the land for the past 70 years.

On Wednesday, Finchum voiced her concerns at a community meeting in the Dandridge courthouse. “It will be a huge facility that runs 24 hours a day, that’s lit up like a city, have tall cranes. It will completely change the way we get in and out, our lives.”

Jefferson County Mayor Alan Palmieri agrees it would be a big facility, but he says the project could bring in thousands of jobs and too much money to turn away.

When asked how he would feel if it was in his backyard, Mayor Palmieri says, “Well, I’d probably sell.”

“Can you take one or two individuals and deny an entire county the right for better jobs, for better schools, for more economic prosperity?” Palmieri asks. “You can’t do that.”

The mayor says Norfolk Southern Railroad hasn’t made any promises and the county has offered no incentives to the company.

“We’ve got to expand. We’ve got to attract new business, new industry,” Palmieri adds. “And those that feel like it should remain a bedroom community, I don’t make any apologies for having a different opinion than they do.”

The mayor says by this isn’t a done deal by any means. He says it’s just in the evaluation process and if it does happen, it could still be years down the road.

County officials estimate the facility could bring in 1,000 jobs initially and up to 10,000 in 12 years.

But the mayor says there’s no guarantee the company will choose Jefferson County. He says other sites are also under consideration in both Knox and Hamblen counties.

Source: WATE

Economists see modest rebound in 3Q

A panel of 45 U.S. economists expects a “modest” economic rebound to begin in the second half of 2009, picking up steam in 2010.

According to the National Association for Business Economics, “The panel … (predicts) positive, albeit modest, growth in the third quarter, followed by steady improvement thereafter. On the whole, however, the economic rebound lacks luster. Real GDP growth over the second half of 2009 is expected to average a well-below-trend 1.2 percent pace.”

The forecasters say growth in 2010 “is slated for a return to near its historical trend, with real GDP rising 2.7 percent on a fourth-quarter-to-fourth-quarter basis. … (But) next year’s expected growth in GDP would be considerably more moderate than the typical rebound following a steep decline.”

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