Growing pain.
Position | Triad |
A few months ago, Atlantic Coast Conference Commissioner John Swofford told BUSINESS NORTH CAROLINA, "The reality is I consider this league totally stable" (cover story, September 2012). He has since announced that University of Notre Dame will join the conference in every sport except football, that founding member University of Maryland is leaving for the Big Ten Conference and that the University of Louisville is exiting the Big East Conference to take the Terrapins' spot. These moves come on the heels of the ACC agreeing to add Syracuse University and University of Pittsburgh, which will join later this year. Though Louisville is better than Maryland in terms of revenue and athletic performance, the Terps take with them the valuable Baltimore-Washington, D.C., market and its 3.5 million TV homes--compared with Louisville and Lexington, Ky.'s combined 1.2 million. Though the league got a revised TV deal with ESPN last May, the loss of so many viewers could hurt when it comes time to renegotiate. Notre Dame football, for the time being, is not a part of any TV deal. Its program has its own contract with NBC. If the ACC doesn't find more money, it could lose teams to leagues such as the Big Ten, which will reportedly pay the Terps $43 million in 2017, $19 million more than the ACC.
No-go on redo
Quaintance-Weaver Hotels LLC announced in December it will not turn the Reynolds Building in Winston-Salem into a hotel. R.J. Reynolds Tobacco Co., its owner, had given the Greensboro company most of last year to examine the feasibility of the renovation, but demand and rates would not be high enough to sustain a luxury hotel. The 22-story art deco building was completed in 1929 and designed by the firm that would go on to design the 102-story Empire State Building in New York City.
WORKING CAPITAL TRIAD Employed: 763,519 YTD change: 24,545 Index: 100.9 Source: Division of Employment Security, October. Figures are not seasonally adjusted. The index is the number of jobs as a percentage of the average in 2000. GREENSBORO--Tencarva Machinery, a distributor of pumps, pumping systems and fluid-handling systems, acquired Nashville...
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