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    <title>Business News - MyNC.com</title>
    <link>http://www.mync.com/site/page/rss</link>
    <description>Business News --- MyNC.com</description>
    <language>en-us</language>
    <copyright>2009 Media General</copyright>
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      <title>Column: Three Keys To Making the Most Of Black Friday</title>
      <link>http://durhamcounty.mync.com/site/durhamcounty/news/story/44668/column-three-keys-to-making-the-most-of-black-friday</link>
      <guid>http://durhamcounty.mync.com/site/durhamcounty/news/story/44668/column-three-keys-to-making-the-most-of-black-friday</guid>
      <description><![CDATA[<p>Eight years ago, I experienced my first retail Black Friday. I had been working at jcpenney.com for almost a year, and we were feverishly gearing up for the busiest season of the year. <br /><br />Little did I know what that meant. But the next few weeks pulled me into a world of craziness that I now look forward to every year. <br /><br />There are a number of explanations for the origin of the term Black Friday. Some people link it to the cut-throat approach consumers take to stake out and claim their bounties. <br /><br />Others note that most retailers do the bulk of their business near year's end, when shoppers push retailers "into the black" - an accounting term signifying profitability. Whatever the origin, it's the best time of year for bargain hunters to save. <br /><br />There are three keys to getting the most out of Black Friday. <br /><br />The first is planning, and it is essential. Many Web sites get Black Friday advertisements well in advance of the newspaper inserts delivered on Thanksgiving Day. (My company, DealTaker.com, is one of the most known, to the point that retailers ask us to post their ads early.) <br /><br />By seeing these listings early, you have more time to determine what you want, where to get it, what time to be there and how much you will save. <br /><br />The second key is organization. With all the information you have at hand early, you need to get it in order. <br /><br />You can create your own system. Some people use alphabetical accordion folders. Others put everything in a spreadsheet so items can be sorted or marked as needed. Whatever helps you organize, use it - it will save you time and money. <br /><br />The third key is attention. Pay attention to when sales start, when they end and when they may pop up in the middle of the day. <br /><br />The word "doorbusters" is often used for early sales, while other stores offer afternoon specials. And make sure the item you pre-screened is the one you actually pick up off the table. It's a mad house sometimes, and products get scattered about the store - you could think you have the $17.99 DVD player but find out later it's the top-of-the-line model for $179.99. <br /><br />One other note: If you see something now that you think is a good deal, buy it. Retailers have less in inventory this year after being left with surplus last year as the recession was taking hold. Deeper discounts later in the season may not exist like they did last year. <br /><br />I enjoy watching the action up close. Our team plans to attend several sales to get a good flavor of the hottest items of the year - and how to save people more time and money. <br /><br />Then we will come back to our offices and gear up for the online version of shopping's Super Bowl - Cyber Monday, the Monday after Thanksgiving. <br /><br />Go forth, bargain hunters, and let the holiday savings begin. <br /><br /><em>"King of Koupons" Kevin Strawbridge is president of DealTaker.com, an online shopping Web site owned by Media General that collects and shares online coupons and deals. E-mail KingofKoupons@gmail.com or follow @dealtaker on Twitter.</em></p>
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      <title>State Unemployment Rate Rises To 11 Percent</title>
      <link>http://wake.mync.com/site/wake/news/story/44793/state-unemployment-rate-rises-to-11-percent</link>
      <guid>http://wake.mync.com/site/wake/news/story/44793/state-unemployment-rate-rises-to-11-percent</guid>
      <description><![CDATA[<p>North Carolina's unemployment rate rose slightly to 11 percent in October, a fraction off its historic peak earlier this year and the ninth straight month in double digits.</p>
<p>The state's Employment Security Commission on Friday reported the jobless rate continued to hover around 11 percent, as it has for nearly all of this year. September's rate was 10.8 percent.</p>
<p>The state's unemployment rate in October 2008 was 7 percent.</p>
<p>North Carolina's unemployment rate has been worse than the national average for more than a year and that continued in October, when the U.S. figure was 10.2 percent.</p>
<p>Construction suffered the greatest losses, shedding about 6,600 North Carolina jobs in October. Education, health services and government jobs saw the greatest employment growth.</p>
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      <title>N.C. Employers Expect To Pay Smaller Increase In Health-Insurance Costs Next Year</title>
      <link>http://news.mync.com/site/news/story/44739/n.c.-employers-expect-to-pay-smaller-increase-in-health-insurance-costs-nex</link>
      <guid>http://news.mync.com/site/news/story/44739/n.c.-employers-expect-to-pay-smaller-increase-in-health-insurance-costs-nex</guid>
      <description><![CDATA[<p>North Carolina employers expect to pay a smaller increase in employee health-insurance costs next year, according to a survey released yesterday by Mercer Human Resource Consulting. <br /><br />The survey also found that slightly more employers will offer a consumer-directed health plan, such as a health savings account, as a cost-reduction strategy in 2010. <br />Mercer is a human-resource consulting company in Charlotte. The company also released an annual study that tracks health-insurance costs nationwide. <br /><br />The survey of 99 North Carolina employers - all with at least 10 employees - found an average projected increase of 4.7 percent over 2009 costs. The employers said they expect to achieve that goal by passing more costs on to their workers or by changing insurance plans or insurers. <br /><br />Without making those changes, the average increase would be 7 percent. <br /><br />Mercer cautioned that the employers' projected increases may be conservative. Employers estimated a 4.9 percent increase for 2009 counting cost-sharing measures, but costs actually rose 8.5 percent. <br /><br />"Small and large employers used different strategies to keep cost growth down in 2009," said Steve Graybill, a senior consultant for Mercer. "Small employers moved employees into low-cost, consumer-directed health plans and raised preferred-provider organization (PPO) deductibles." <br /><br />N.C. employers expressed more optimism about controlling employee health-insurance costs than the national average. <br /><br />According to Mercer's national study of 2,914 employers, insurance-plan costs were projected to rise about 9 percent if they renewed 2009 plans without making any changes. They expect to have a 6 percent increase after making cost-shifting changes. <br /><br />The survey of N.C. employers found that the average individual deductible for in-network services in a PPO would be $760 compared with nearly $1,100 nationally. <br /><br />However, for employers with 500 or more workers, the average deductible was $511. <br /><br />Twenty percent of employers said they would offer a consumer-directed health plan, up from 16 percent in 2009. <br /><br />"We saw relatively little cost-shifting among large employers," Graybill said. "What jumped out was a real increase in their use of programs and policies designed to improve work-force health." <br /><br />Many local employers have not yet been told how much their premiums are going up next year, but they are planning for more than 18 percent on average, said Gayle Anderson, the president and chief executive of the Winston-Salem Chamber of Commerce. <br /><br />"Local employers are increasing deductibles and making other changes to try to keep their cost increases around 4 percent to 5 percent," Anderson said. <br /><br />The study found that employee health-benefit costs averaged nearly $8,000 in 2009. <br /><br />About 41 percent of North Carolina employers said they will raise deductibles, co-pays or out-of-pocket maximums for employees - up from 31 percent in the 2009 survey. <br /><br />Another 38 percent said they would increase their employees' share of the premium contribution, down from 40 percent this year. Another 17 percent said they would find other means to increase employees' contribution. <br /><br />"I do think employers are being aggressive in moving to higher-deductible plans and cost shifting more to employees," Graybill said. "Most are driven by the need to manage budgeted cost."</p>]]></description>
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      <title>NetApp Records 120 Percent Increase In Quarterly Profit</title>
      <link>http://wake.mync.com/site/wake/news/story/44712/netapp-records-120-percent-increase-in-quarterly-profit</link>
      <guid>http://wake.mync.com/site/wake/news/story/44712/netapp-records-120-percent-increase-in-quarterly-profit</guid>
      <description><![CDATA[<p>NetApp, which plans an expansion in the Triangle, has posted a 120 percent quarterly profit.<br /><br /><a href="http://triangle.bizjournals.com/triangle/stories/2009/11/16/daily47.html" target="_blank"><strong>Read Full Story</strong></a></p>]]></description>
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      <title>Fayetteville Group Tries To Overturn Law Banning Governments From Collective Bargaining</title>
      <link>http://news.mync.com/site/news/story/44710/fayetteville-group-tries-to-overturn-law-banning-governments-from-collectiv</link>
      <guid>http://news.mync.com/site/news/story/44710/fayetteville-group-tries-to-overturn-law-banning-governments-from-collectiv</guid>
      <description><![CDATA[<p>A Fayetteville group wants the state to allow cites and counties to be able to bargain with unions.</p>]]></description>
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      <title>Hanesbrands To Refinance Part Of Existing Debt</title>
      <link>http://news.mync.com/site/news/story/44666/hanesbrands-to-refinance-part-of-existing-debt</link>
      <guid>http://news.mync.com/site/news/story/44666/hanesbrands-to-refinance-part-of-existing-debt</guid>
      <description><![CDATA[<p>Hanesbrands Inc. said yesterday that it plans to refinance part of its existing debt "to increase financial and operating flexibility." <br /><br />The company said it may use the net proceeds from the financing transactions, which may include a registered debt offering, to repay all or a portion of its outstanding debt, as well as pay fees and expenses related to the transactions. <br /></p>]]></description>
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      <title>Water Bottling Company to Bring 138 Jobs To McDowell County</title>
      <link>http://news.mync.com/site/news/story/44659/water-bottling-company-to-bring-138-jobs-to-mcdowell-county</link>
      <guid>http://news.mync.com/site/news/story/44659/water-bottling-company-to-bring-138-jobs-to-mcdowell-county</guid>
      <description><![CDATA[<p><a href="http://www.ncnaturals.com" target="_blank">North Cove Springs</a>, a regional producer of bottled water from natural springs, will expand its production facility in McDowell County. <br /><br />The company will invest more than $6.3 million and create 138 jobs in Marion. The announcement was made possible in part by a $310,000 grant from the One North Carolina Fund.<br /><br />"North Carolina's business-friendly policies and highly skilled workforce remain attractive to growing companies looking for the ideal location to expand," Gov. Perdue said. "Our state is the perfect platform for successful firms like this one to compete and thrive in a national market."<br /><br />North Cove Springs, of Marion, whose ownership includes Able Rebuilders LLC, a national tools remanufacturer headquartered in Florida, taps water from natural springs. North Cove bottles, markets and distributes the spring water and naturally flavored water beverages to regional and national retailers.<br /><br />North Cove is entering a joint venture with Able Rebuilders to expand water production by adding another bottling line at the existing Marion facility. While salaries will vary by position, the project's 138 new jobs will pay an average annual wage of $28,141, not including benefits. That is higher than the McDowell County annual average wage of $27,976. <br /><br />"The state of North Carolina is obviously very special to us, providing the natural resources for us to be able to bring our products to market," said Chris Mencis, president of North Cove Springs. "It is also a special place to live and work. With this grant from the One NC Fund, we're excited to be in a position to be able to contribute positively back to the economy." <br /><br />The One NC Fund provides financial assistance, through local governments, to attract business projects that will stimulate economic activity and create new jobs in the state. Companies receive no money up front and must meet job creation and investment performance standards to qualify for grant funds. These grants also require and are contingent upon local matches.<br /><br />"During these tough economic times, it's critical to make the investments that will create jobs and grow companies," said Sen. Joe Sam Queen. "We welcome these new jobs, especially in McDowell County. We are working every day for every opportunity."<br /><br />North Carolina continues to have a top-ranked business climate. Through Gov. Perdue's JobsNOW initiative, the state is working aggressively to create jobs, train and retrain our workforce, and lay the foundation for a strong and sustainable economic future. <br /><br />Through use of the One NC Fund, more than 40,000 jobs and $7 billion in investment have been created since 2001. Other project partners include: the N.C. Department of Commerce, N.C. Department of Revenue, N.C. Community Colleges and McDowell County.</p>
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      <title>NC Foodies Get Coaching, Tips For Business Success</title>
      <link>http://wake.mync.com/site/wake/news/story/44579/nc-foodies-get-coaching-tips-for-business-success</link>
      <guid>http://wake.mync.com/site/wake/news/story/44579/nc-foodies-get-coaching-tips-for-business-success</guid>
      <description><![CDATA[<p>People who think they've developed the world's best hot sauce or terrific pies that restaurants will want to put on their menus can get some coaching on how to build a business.<br /><br />North Carolina's Agriculture and Consumer Services Department hosts a food marketing workshop Tuesday at the State Fairgrounds in Raleigh.<br /><br />The goal is training food entrepreneurs to succeed despite the recession. That includes letting small food businesses hear from buyers for restaurants, supermarkets and institutional kitchens about what they look for from the suppliers they let in the door.<br /><br />Food, forestry and the rest of the agriculture industry generates more than $60 billion a year in North Carolina and employs more than 20 percent of the work force.</p>]]></description>
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      <title>DealTaker Column: Seven Tips For Saving When Shopping Online</title>
      <link>http://news.mync.com/site/news/story/44423/dealtaker-column-seven-tips-for-saving-when-shopping-online</link>
      <guid>http://news.mync.com/site/news/story/44423/dealtaker-column-seven-tips-for-saving-when-shopping-online</guid>
      <description><![CDATA[<p>Ten years ago, online shopping was finally taking shape after a few years of experimentation. A few companies had ventured online to see if there was a new frontier to reach consumers, and a little company called Amazon.com was in its fifth year of selling books and diversifying into a broader range of products. <br /><br />It was not the first time retailers tried to reach consumers beyond brick-and-mortar stores - catalogs had long offered the chance to shop from the comfort of home. But technology to make shopping easier was growing, and now anyone could go online, click from store to store and find products and services in a sea of Web pages. <br /><br />But the Web lacks an overall organization of information, which can lead to wandering around. Today, with online shopping being a way of life, the key is navigating quickly through a wealth of information to find what you are looking for, at the best possible price, and for it to be delivered as soon as possible. Here are some suggestions: <br /><br />Step 1: Have a general idea of what you are seeking. If you know what you need, you are likely to stay focused and home in on the right item. Specific items are good, but you also can broaden searches to categories such as apparel, home, shoes, etc. <br /><br />Step 2: Use a search engine to narrow down ideas. Everyone knows Google, but other search sites exist and could lead to better choices. Check out <a href="http://Yahoo.com" target="_blank">Yahoo.com</a>, <a href="http://Ask.com " target="_blank">Ask.com</a> and <a href="http://Bing.com " target="_blank">Bing.com</a> (Microsoft). <br /><br />Step 3: Look for deals; they are not always apparent. Narrowing your search by adding terms such as "coupons," "promotional codes" and "deals" to your primary search terms can yield a wealth of savings. <br /><br />Step 4: Check the home pages of retailers. Sites like to show storewide offers on the home page but may not refer to them again at other parts of the site. This is where you may be able to find promotional codes for savings at checkout. <br /><br />Step 5: Pay attention to purchase details/requirements. Make sure you understand what is needed to get the best deal - "buy one, get one free" (BOGO's), gifts with purchase, quantity price breaks, etc. <br /><br />Step 6: Be alert at checkout. If you did not do step 3 above and the site has a box that says "Promotion Code" or some other coupon input, open a new browser tab, go to a search engine and do a search for that store name and the term used on the site (e.g. Buy.com and Promotion Code). <br /><br />Step 7: Always look for free-shipping offers. Other alternatives include shipping to a local store for pickup or shipping directly to a recipient to save the cost of reshipping (many retailers offer gift wrapping and split shipments). This is a great way to save. <br /><br />Online shopping is a great way to save time and money. Use the medium for its primary strength - information. Consumers today are more informed than at any other time in history. That knowledge is the best advantage to have when shopping. <br /><br />Along the way, you may find other steps. Share those with me and your friends so everyone can save. <br /><br /><em>"King of Koupons" Kevin Strawbridge is president of <a href="http://DealTaker.com" target="_blank">DealTaker.com</a>, an online shopping Web site owned by Media General that collects and shares online coupons and deals. <br />E-mail KingofKoupons@gmail.com or follow @dealtaker on Twitter. </em></p>]]></description>
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      <title>The Odd Couple: Reynolds Pursuit Of Company That Promotes Smoking Cessation Raises Questions</title>
      <link>http://news.mync.com/site/news/story/44421/the-odd-couple-reynolds-pursuit-of-company-that-promotes-smoking-cessation-</link>
      <guid>http://news.mync.com/site/news/story/44421/the-odd-couple-reynolds-pursuit-of-company-that-promotes-smoking-cessation-</guid>
      <description><![CDATA[<p>Trying to buy a company that specializes in products that help people quit smoking may seem like a radical change for Reynolds American Inc. <br /><br />But analysts said yesterday that it all depends on how Reynolds potentially would use and market cigarette-replacement products in gum, pouch and spray form made by Niconovum AB. <br /><br />Media reports have said that Reynolds is close to buying Niconovum of Helsingborg, Sweden, for $44.5 million. The reports are based on comments by David Sweanor, a law professor at the University of Ottawa and a tobacco analyst. Sweanor could not be reached for comment. <br /><br />Reynolds said it is against its policy to comment on speculation. Niconovum officials could not be reached for comment. <br /><br />"I see the deal as a real possibility," said Stephen Pope, the chief global-market strategist with Cantor Fitzgerald Europe. <br /><br />He said it makes sense as part of tobacco manufacturers relying more on smokeless products as cigarette demand declines. Government figures show that fewer than 44 million Americans smoke, down from a peak of 53.5 million in 1983. <br /><br />Niconovum was formed in 2000 by Karl Olov Fagerstr&ouml;m, who is considered a leading expert on smoking cessation and nicotine dependence. It is managed by many of the individuals that were pivotal in the development of Nicorette. <br /><br />Although some analysts view Niconovum's products as primarily smoking cessation, the company said on its Web site that it "believes that there is a market for a range of nicotine-replacement therapy products that will deliver nicotine more quickly and effectively than those currently available, thereby giving the consumer a perceived better control of cravings." <br /><br />The evolution of some health-advocacy groups from anti-smoking to anti-tobacco is ratcheting up the moralistic aspect of buying and consuming a legal product. <br /><br />Bill Godshall, the executive director of SmokeFree Pennsylvania, said he believes that smokers and public health could benefit if Reynolds buys Niconovum or its patents. <br /><br />"Its smokefree nicotine products are 99.9 percent less hazardous alternatives to cigarettes, pose no risks to nonusers, and appear to be more smoker friendly than similar products marketed as smoking cessation aids,' Godshall said. <br /><br />"A key decision for Reynolds would be whether to market them as tobacco products, nicotine drug devices, or perhaps a combination of both. The FDA has vastly different and incompatible laws and regulations for marketing tobacco products and smoking-cessation nicotine." <br /><br />In June, Congress granted the Food and Drug Administration the power to regulate tobacco products. That includes removing ingredients considered hazardous, restricting the marketing and distribution of cigarettes and smokeless tobacco, and focusing on limiting the impact of advertising on youth. <br /><br />Susan Ivey, the chairwoman, chief executive and president of Reynolds, wants to make Reynolds into what she calls "a total tobacco company." The biggest step that Reynolds has taken in that direction was buying Conwood, a smokeless-tobacco company, for $3.5 billion in April 2006. <br /><br />Reynolds also has gone national with Camel Snus, a spitless tobacco product, and introduced orbs, sticks and filmlike strips for the tongue in test markets. <br /><br />Colleen Paulson, an analyst with The Motley Fool, said that buying Niconovum would be "really small potatoes" for Reynolds. <br /><br />"But just think of the positive spin that Reynolds could give this acquisition, playing up the company's commitment to consumer health." Paulson said. "Combine this little addition with the 'all-natural' cigarettes that Reynolds produces through the Santa Fe Natural Tobacco Co., and the company could start to market itself as the tobacco industry 'wellness' leader." <br /><br />Dr. John Spangler, a professor of family and community medicine at Wake Forest University School of Medicine whose work includes studying tobacco use, said he would take a wait-and-see approach to how Reynolds would market the Niconovum products. <br /><br />Spangler recently started a study of college freshmen at 10 unidentified North Carolina colleges aimed at strategies to encourage reduced use or even quitting smokeless-tobacco products. <br /><br />"If they are marketed simply as means of getting nicotine in places where you cannot smoke - as opposed to using them to quit - I think most health scientists would have a problem with that," Spangler said. <br /><br />"I keep saying this, but I cannot emphasize it enough. Will 'safer' products actually increase tobacco use - smoked and smokeless - because users will become addicted to nicotine and like the taste of tobacco?"</p>]]></description>
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      <title>CEO Of NC Real Estate Lobbying Group To Resign</title>
      <link>http://news.mync.com/site/news/story/44415/ceo-of-nc-real-estate-lobbying-group-to-resign</link>
      <guid>http://news.mync.com/site/news/story/44415/ceo-of-nc-real-estate-lobbying-group-to-resign</guid>
      <description><![CDATA[<p>The face of a powerful lobbying group in North Carolina says he'll leave his job at the end of the year.</p>
<p>Tim Kent has led the North Carolina Association of Realtors for more than nine years. Kent said Thursday he'll resign as association chief executive but remain available as a consultant to the group.</p>
<p>Kent led the group as it fought unsuccessfully in 2007 the Legislature's decision to let counties raise the local land transfer tax if voters approve the idea. No counties have agreed to a higher transfer tax.</p>
<p>State association President Sandra O'Connor called Kent one of the state's most prominent public policy advocates.</p>
<p>The association's political action committee is one of largest contributors to legislators.</p>
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      <title>Online Banking Grows In Popularity</title>
      <link>http://news.mync.com/site/news/story/44363/online-banking-grows-in-popularity</link>
      <guid>http://news.mync.com/site/news/story/44363/online-banking-grows-in-popularity</guid>
      <description><![CDATA[<p>Banking in America has gone digital. Sitting at the kitchen table, ripping open the mail, filling out a check register. That's the old way.</p>
<p>A few e-mails, a glance at a spreadsheet, a few mouse clicks. That's the new way. <br />And now, it's the most popular way.</p>
<p>For the first time ever, U.S. bank account holders would rather visit a web site than a bank branch, according to a survey conducted by the American Bankers Association.</p>
<p>"There are a lot of advantages to online banking", said Nessa Feddis, of the American Bankers Association. "It's fast, it's quick, it's great for budgeting, record keeping. It's also green, it's good for the environment."</p>
<p>Online banking has surpassed the old fashioned brick-and-mortar branches despite security issues and data leaks.</p>
<p>Just recently, a Florida man was indicted for stealing 130-million credit card numbers. Then there's the endless flood of Phishing e-mails, web site outages, and computer viruses.</p>
<p>Despite it all, bank consumers continue to flock online, driven by the ease and convenience of online banking, direct deposit, online bill paying and other electronic features.</p>
<p>"The service is much quicker, as long as it takes to load a web page not as long as it takes to move to the head of the line", said Greg McBride of Bankrate.com.</p>
<p>Banks have done much to make their web sites safe, but nothing is fool-proof. If you want to bank online, carefully guard your password, never type it in an e-mail, and watch your accounts carefully for any signs of fraud. You only have 60 days to report missing money after that, you can't get it back.</p>
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      <title>Wal-Mart To Keep Stores Open To Ease Black Friday</title>
      <link>http://news.mync.com/site/news/story/44354/wal-mart-to-keep-stores-open-to-ease-black-friday</link>
      <guid>http://news.mync.com/site/news/story/44354/wal-mart-to-keep-stores-open-to-ease-black-friday</guid>
      <description><![CDATA[<p>Wal-Mart Stores says it will keep its stores open 24 hours and take new crowd-control measures Thanksgiving weekend after a temporary employee was trampled to death in a Black Friday rush last year.<br /><br />The world's largest retailer says day-after-Thanksgiving sales will begin at 5 a.m. Nov. 27, but most U.S. stores will be open 24 hours to prevent a mad dash. The announcement doesn't affect most of Wal-Mart's Supercenters, which are already open 24 hours.<br /><br />Federal safety regulators cited Wal-Mart for inadequate crowd management after the Nov. 28, 2008, death of a temporary employee at a Long Island, N.Y., store. A crowd of shoppers broke down the store's doors, trapping the employee, who died of asphyxiation.</p>]]></description>
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      <title>Raleigh PR Firm Announces Closure, Layoffs</title>
      <link>http://wake.mync.com/site/wake/news/story/44300/raleigh-pr-firm-announces-closure-layoffs</link>
      <guid>http://wake.mync.com/site/wake/news/story/44300/raleigh-pr-firm-announces-closure-layoffs</guid>
      <description><![CDATA[<p>Raleigh based public relations and consulting firm has announced that it will be closing its doors, resulting in layoffs.</p>
<p>Catevo Group announced that it will "cease doing business as of November 13". Twenty-five full-time employees will be laid off.</p>
<p>The Catevo Group is a privately held company of the Laudes Corporation and was formed in 2005.</p>
<p>The closing is a result of a decision by the Laudes Corporation to restructure and consolidate its business in the U.S. and abroad.</p>
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      <title>Pfizer To Cut Jobs In Two Triangle Locations</title>
      <link>http://durhamcounty.mync.com/site/durhamcounty/news/story/44273/pfizer-to-cut-jobs-in-two-triangle-locations</link>
      <guid>http://durhamcounty.mync.com/site/durhamcounty/news/story/44273/pfizer-to-cut-jobs-in-two-triangle-locations</guid>
      <description><![CDATA[<p>The world's largest drug maker says it will make job cuts in the Triangle just weeks after it acquired another drug firm with deep roots in the area.</p>
<p>Pfizer says it needs to eliminate close to 150 jobs in the Raleigh and Sanford areas following its takeover of the drug and vaccine maker Wyeth.</p>
<p>The job cuts in Sanford are particularly difficult because of that area's above average unemployment rate.</p>
<p>"Anything that happens to Pfizer now is going to be a blow to Sanford," Mayor Cornelia Olive said.</p>
<p>Pfizer's announcement of 70 jobs eliminated at its Sanford research and development facility was not the kind of economic news municipal officials wanted to hear.</p>
<p>"They pay good money and they've done research here that's lead to life saving vaccines," Olive said.</p>
<p>The company is also going to going to close its research facility at RTP, cutting another 70 jobs there.</p>
<p>Pfizer says the cuts were necessary following its merger with Wyeth.</p>
<p>"There was duplication," Kristen Neese, Pfizer's director of worldwide communication, said. "When the company merged three weeks ago, we had more than 20 research and development sites."</p>
<p>Pfizer also runs a vaccine manufacturing facility in Sanford, which the company will keep open.</p>
<p>"That's good news," Olive said. "At least there will still be hundreds of jobs available there."</p>
<p>The recession has been particularly brutal to the Sanford area, boosting the local unemployment rate close to 16 percent.</p>
<p>In the last six months, officials have begun to see that unemployment rate moderate, which is why the Pfizer job cuts hurt all the more.</p>
<p>"We have some industries that are hiring here," Olive said. "Red Wolf is adding employees, filter maker Trion is adding to its numbers, Caterpillar is gradually starting to open lines again and Pentair is starting to rehire."</p>
<p>Pfizer said although jobs will be lost in North Carolina as a result of the research consolidation, not everyone will be left unemployed.</p>
<p>"We hope to retain some of these colleagues through job transfers elsewhere," Neese explained.</p>
<p>Pfizer said the job cuts won't happen all at once. Representatives said the cuts will be phased in between 2010 and 2011.</p>]]></description>
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      <title>RTP Company Selected As Finalist For Corporate Citizenship Award</title>
      <link>http://wake.mync.com/site/wake/news/story/44236/rtp-company-selected-as-finalist-for-corporate-citizenship-award</link>
      <guid>http://wake.mync.com/site/wake/news/story/44236/rtp-company-selected-as-finalist-for-corporate-citizenship-award</guid>
      <description><![CDATA[<p>WorkSmart, a leading provider of Information Technology services and solutions in North Carolina, announced today that they have been selected as a finalist in this year&rsquo;s 21 Awards presented by the North Carolina Technology Association. Their nomination is in the category of Excellence in Corporate Citizenship.</p>
<p>WorkSmart was selected as a finalist for their work in giving back to the community. Over the past several years, they have partnered with nonprofits including the Susan G. Komen for the Cure NC Triangle Affiliate, Meals on Wheels, The Great Human Race, Habitat for Humanity Wake County and the National MS Society to raise funds and provide mission-critical IT services and support. Additionally, employees are given one paid day off per year to complete volunteer work.</p>
<p>&ldquo;The finalists for this year&rsquo;s 21 Awards truly represent the best that North Carolina&rsquo;s technology industry has to offer,&rdquo; said Brooks Raiford, President and CEO of NCTA.&nbsp; &ldquo;WorkSmart has distinguished itself as a company leading the way in innovation and we are proud to recognize them as a finalist for the Corporate Citizenship Company Award.&rdquo;</p>
<p>The theme for this year&rsquo;s awards, which are designed to celebrate innovation and excellence in North Carolina, is &ldquo;Survivor: Outtech, Outdevelop, Outlead.&rdquo; The awards categories include technology industry, excellence, stage of development and leadership.&nbsp; The winners will be announced at the NCTA 21 Awards Gala to be held on November 12th at the Embassy Suites in Cary.</p>
<p>&ldquo;We are dedicated to servicing our clients and we are strongly committed to our community,&rdquo; said Ron Unger, CEO. &ldquo;An award nomination that recognizes our effort is a real accomplishment; we are very proud.&rdquo;</p>]]></description>
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      <title>New Applebee's Opening On Johnston Co./Wake Co. Line</title>
      <link>http://wake.mync.com/site/wake/news/story/44232/new-applebees-opening-on-johnston-co.-wake-co.-line</link>
      <guid>http://wake.mync.com/site/wake/news/story/44232/new-applebees-opening-on-johnston-co.-wake-co.-line</guid>
      <description><![CDATA[<p>Chamber of Commerce members of Johnston County, Cleveland and Clayton, along with several area Mayors will gather Monday afternoon to welcome Applebee's to Johnston County.</p>
<p>A ribbon cutting ceremony will be held at 1 p.m. with Mayor Ronnie Williams of Garner and Mayor Jody McLead of Clayton in attendance.</p>
<p>The restaurant chain is opening its 72nd franchise location and 51st location in North Carolina at the intersection of Highway 42 and Interstate 40, on the left across the street from Wal-Mart.</p>
<p>&nbsp;</p>]]></description>
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      <title>Flea Market Returns To State Fairgrounds</title>
      <link>http://wake.mync.com/site/wake/news/story/44176/flea-market-returns-to-state-fairgrounds</link>
      <guid>http://wake.mync.com/site/wake/news/story/44176/flea-market-returns-to-state-fairgrounds</guid>
      <description><![CDATA[<p>A North Carolina flea market that annually closes for the state fair is reopening in Raleigh.</p>
<p>The Raleigh Flea Market opens its doors again Saturday morning at the State Fairgrounds. The year-round market closed in early October for the State Fair.</p>
<p>Vendors are expected to sell everything from antiques to video games. Other weekend events include a handbell festival and furniture consignment sale.</p>
<p>The market is open every Saturday and Sunday from 9 a.m. to 6 p.m.</p>
<p>&nbsp;</p>]]></description>
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      <title>G-105 Ranks As Top Triangle Radio Station</title>
      <link>http://wake.mync.com/site/wake/news/story/44126/g-105-ranks-as-top-triangle-radio-station</link>
      <guid>http://wake.mync.com/site/wake/news/story/44126/g-105-ranks-as-top-triangle-radio-station</guid>
      <description><![CDATA[<p>G-105 is the top ranked radio station in the Triangle, according to Arbitron ratings.</p>]]></description>
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      <title>BBB Warns Of Work-At-Home Scams</title>
      <link>http://wake.mync.com/site/wake/news/story/44112/bbb-warns-of-work-at-home-scams</link>
      <guid>http://wake.mync.com/site/wake/news/story/44112/bbb-warns-of-work-at-home-scams</guid>
      <description><![CDATA[<p>The local Better Business Bureau is warning about a new internet work-at-home scam.</p>
<p>This latest threat comes from a Raleigh-based company called Eco Venture Group.<br /><br />Customers sign up to receive materials that will show them how to work at home.</p>
<p>After customers provide their credit card numbers to cover shipping costs, they're billed much more than they agreed to.</p>
<p>Sometimes they receive fraudulent charges from Web sites they never visited.</p>
<p>BBB experts said usually that money is gone for good.</p>
<p>"Of course the better business bureau can't work with the company to seek a resolution if they're not answering the complaints," Beverly Baskin, President of the Eastern North Carolina BBB, said. "The likelihood of consumers getting their money back is not very good."</p>
<p>Baskin suggests consumers who pay with a credit card call their credit company to try and get some of the charges reversed.</p>
<p>Experts also said consumers should research a company before entering into an agreement.</p>
<p>You can find tips about dealing with the work-at-home scams from the <a href="http://www.ncdoj.gov/Consumer/Investment-Work-and-Money-Making-Schemes/Work-at-Home-Scams.aspx" target="_blank">North Carolina Attorney Genera</a>l.</p>
<p>&nbsp;</p>]]></description>
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      <title>Original Q Shack Restaurant To Install A Unique Sign In Durham</title>
      <link>http://durhamcounty.mync.com/site/durhamcounty/news/story/44049/original-q-shack-restaurant-to-install-a-unique-sign-in-durham</link>
      <guid>http://durhamcounty.mync.com/site/durhamcounty/news/story/44049/original-q-shack-restaurant-to-install-a-unique-sign-in-durham</guid>
      <description><![CDATA[<p>The Original Q Shack location has big plans for its old, familiar sign out front.</p>]]></description>
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      <title>Walmart Chooses Cree To Provide Lighting To 650 Stores</title>
      <link>http://durhamcounty.mync.com/site/durhamcounty/news/story/44043/walmart-chooses-cree-to-provide-lighting-to-650-stores</link>
      <guid>http://durhamcounty.mync.com/site/durhamcounty/news/story/44043/walmart-chooses-cree-to-provide-lighting-to-650-stores</guid>
      <description><![CDATA[<p>Walmart has signed a deal for Cree to provide lighting to 650 stores.</p>]]></description>
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      <title>Sales Tax Suspended On Some Appliances</title>
      <link>http://news.mync.com/site/news/story/44004/sales-tax-suspended-on-some-appliances</link>
      <guid>http://news.mync.com/site/news/story/44004/sales-tax-suspended-on-some-appliances</guid>
      <description><![CDATA[<p>Appliance dealers hope the state's second annual sales tax holiday on Energy Star appliances this weekend helps stimulate business. <br /><br />To increase the chances of that happening, many retailers are extending hours and offering additional discounts on top of the tax savings to try to entice shoppers to buy. <br /><br />The tax holiday, which is Friday through Sunday, works much like the school supplies sales tax holiday North Carolina holds each August, except that now it's Energy Star-rated appliances that are exempt from the tax. <br /><br />In Catawba County, where the combined sales tax rate is 8 percent, a consumer would save $40 in taxes on a $500 appliance. <br /><br />Savings are likely to be greater than that, as appliance dealers hold promotions and sales in conjunction with the sales tax holiday. <br /><br />Lowe's Home Improvement stores are among major retailers in North Carolina offering discounts on appliances this weekend. <br /><br />"Now is the perfect time for homeowners to invest in Energy Star-qualified products," said Michael Chenard, Lowe's director of environmental affairs. <br /><br />"By installing <a href="http://www.energystar.gov " target="_blank">Energy Star</a>-qualified products, residents can reduce energy consumption significantly and cut costs on utility bills throughout the year." <br /><br />In addition to adhering to the North Carolina state-tax exemption, Lowe's will offer 10 percent off all Energy Star appliances. <br /><br />Dave Garner of Sunrise Appliance on Catawba Valley Boulevard said last year's sales tax holiday generated lots of business for Sunrise. <br /><br />"It was huge for us last year, and we're looking forward to a big weekend at our Hickory, Boone and Mooresville locations," Garner said. <br /><br />Items included in the tax holiday are products that meet the Energy Star requirements and are authorized to carry the Energy Star label, including clothes washers, freezers, refrigerators, central air conditioners, room air conditioners, air source heat pumps, geothermal heat pumps, ceiling fans, dehumidifiers and programmable thermostats. <br /><br />While dishwashers are not included, some dealers will discount Energy Star-rated models this weekend. <br /><br />There is no price limit or ceiling for products to qualify. <br /><br />Items purchased for use in a business do not qualify for tax exemption. <br /><br />North Carolina's Energy Star sales tax holiday was created during a 2008 session of the General Assembly to encourage the use of more energy-efficient products. <br /><br />According to the U.S. Department of Energy, Energy Star-qualified products use up to 50 percent less energy than older models or less-efficient counterparts currently on the market. <br /><br />Steve C. Rittenhouse, manager at Queen City Audio Video Appliances on U.S. 70, SE, said customers will find great deals on Energy Star appliances at his store this weekend, then enjoy more savings in energy costs for years to come. <br /><br />In addition to its regular hours, the Queen City store will be open from noon until 6 p.m. Sunday in observance of the tax holiday, Rittenhouse said. <br /><br />The Energy Star program was created in 1992 by the U.S. Environmental Protection Agency and the U.S. Department of Energy. Since then, consumers have purchased more than 2.5 billion Energy Star products.</p>]]></description>
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      <title>Don't Wait For Black Friday: Deals Now</title>
      <link>http://news.mync.com/site/news/story/43998/dont-wait-for-black-friday-deals-now</link>
      <guid>http://news.mync.com/site/news/story/43998/dont-wait-for-black-friday-deals-now</guid>
      <description><![CDATA[<p>Today is Tuesday, which means this must be Black Friday.<br /><br />Yes, every day is now Black Friday in the world of retail shopping. <br /><br />From HSN to Sears, companies are trotting out deals a full month before Black Friday - the latest gambit aimed at cracking shoppers from a bad case of "Frugal Fatigue," "Puritan exhaustion," or even "Indulgence withdrawal." <br /><br />Such depressing definitions now abound to describe the grinding exhaustion American shoppers feel after two full years of diligent non-spending, some due to a justifiable paranoia of falling off an economic cliff into poverty. Who wants to stare at a $1,000 HDTV if they're laid off after Christmas? <br /><br />"The good news is savings are clearly at a decade high," said Marshal Cohen, an analyst with the research firm NPD group. "People tell us they are beginning to get a bit tired of having to save money." <br /><br />On that point, Ellen Davis of the typically ebullient National Retail Federation said "I'm not sure if shoppers are willing to loosen the purse strings and really come back to the store with abandon. Americans aren't ready to declare the end of the recession." <br /><br />Hence a blizzard of predictions, prognostications and potential indicators. <br /><br />The stock market is up, that's good for shopping. So are gas prices, that's bad. <br /><br />The Gross Domestic Product is up, good. Jobs numbers are not, bad. <br /><br />Foot traffic at stores like Pier 1 is up, good. Credit card companies are raising interest rates dramatically, very bad. <br /><br />And proving no economic statistic is too obscure to ponder, one retail analyst recently cited encouraging El Nino and North Pole weather patterns that could generate favorable climates in the northeast. Good for shopping. <br /><br />Combine all those economic indicators together, and retail experts are thoroughly contradictory on their forecasts. <br /><br />Some banks expect retail sales to rise compared to last year's abysmal level. The National Retail Federation, however, expects total sales to fall 1 percent to $437 billion. (Last year, they were down 3.4 percent.) For many retailers, the holidays generate between 20 and 40 percent of total annual revenue. <br /><br />Looking at those stats, stores decided to bring on the deals early. <br /><br />Walmart started early in-store deals on computers, music players, cameras and HDTVs. BestBuy also cut prices on laptops and software. <br /><br />Crate &amp; Barrel opened up free shipping on purchases over $100 between October 15 and December 22. Even tony Williams Sonoma added a few select items to its virtual sale table online, including the Gaggia Achille espresso machine, normally $1,299, now $799. <br /><br />Toys R Us also started deals only good before Thanksgiving, including a free Hello Kitty Cosmetic set (normally $13) with any Hello Kitty purchase over $30. <br /><br />Television retailer HSN has already started holiday promotions, including an online interactive gift guide with most items already marked down, including an "Emerilware" 10-piece cookware set at $199, normally $240. <br /><br />Given shoppers will likely spend money on something, the question has become "on what?" The NRF expects the overall result will be shoppers going to the mall, but with fewer people on their gift list. <br /><br />Two-thirds of Americans say the economy will affect their holiday plans this year, the NRF found in recent surveys, with a full 84 percent simply spending less. People demand more sales, use more coupons, will put up last year's decorations rather than buy new, focus more on practical gifts and joint gifts. They'll also make more gifts, and travel less. <br /><br />Gift cards will likely sell well, the NRF said, but with a different impact than last year. Instead of getting that gift card and running out to buy something absurdly indulgent, people may spend the money on gas or food.</p>]]></description>
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      <title>Magazine Names North Carolina No. 1 For Business Climate</title>
      <link>http://wake.mync.com/site/wake/news/story/43992/magazine-names-north-carolina-no.-1-for-business-climate</link>
      <guid>http://wake.mync.com/site/wake/news/story/43992/magazine-names-north-carolina-no.-1-for-business-climate</guid>
      <description><![CDATA[Site Selection magazine has ranked North Carolina No. 1 in the country for its business climate.]]></description>
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      <title>R.H. Donnelley Marks $24 Million Income</title>
      <link>http://wake.mync.com/site/wake/news/story/43981/r.h.-donnelley-marks-24-million-income</link>
      <guid>http://wake.mync.com/site/wake/news/story/43981/r.h.-donnelley-marks-24-million-income</guid>
      <description><![CDATA[<p>R.H. Donnelley Corp. has recorded a $24 million profit in the third quarter of 2009.</p>]]></description>
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      <title>Craigslist Warning Job Seekers To Be Wary Of Scams On Its Site</title>
      <link>http://news.mync.com/site/news/story/43950/craigslist-warning-job-seekers-to-be-wary-of-scams-on-its-site</link>
      <guid>http://news.mync.com/site/news/story/43950/craigslist-warning-job-seekers-to-be-wary-of-scams-on-its-site</guid>
      <description><![CDATA[<p>There's a new warning out there on Craigslist.com. The website recently posted a scam alert, telling applicants to be on the lookout for bogus ads that promise work that doesn't exist. <br /><br />"The ones that sound too good to be true, they usually are," says Kevin Jackson, chief investigator for the Hillsborough County Consumer Protection Agency. <br /><br />Jackson says job scams have been out there for years, but the problem may be growing because unemployment is so high. <br /><br />"That desperate place where people are at, looking for a job, sometimes they let their guard down and they let go of that information, and that's really a warning they need to heed," said Jackson. <br /><br />These bogus ads can take many forms. Some promise high wages for minimal, at-home work. <br /><br />"It's sitting at home doing some menial task for a lot of money and those things generally turn out to be scams," said Jackson. <br /><br />Other job postings request credit card or personal information to run a background check. Jackson says job seekers should never pay to apply for employment. <br /><br />"I always try to emphasize this, don't pay for a job," said Jackson. "You don't need to be putting money out front, or giving personal information. Things like that that should just raise a red flag." <br /><br />Jackson says it's also a red flag if the ad doesn't give specific information about the company, such as the company's name, address, and full contact information. <br /><br />Typically, they're advertised on craigslist and other internet sites to keep that anonymity going," he said. "You may see the same ad from geographic region to region, even though it's supposed to be a Tampa job." <br /><br />Angelletta Lee knows all about bogus ads. She's been looking for a job in the medical field for three months. <br /><br />"It's rough. Very rough," she said. Lee has tried all kinds of avenues to get work, going on interviews, using career counselors, and applying on line. She says there's one way she knows if a job isn't legitimate. <br /><br />"Some of them asking for money up front," she said. <br /><br />Jackson encourages job seekers to go to job fairs and job placement centers, as an alternative to applying online. <br /><br />He also applauds Craigslist's effort to police its postings. <br /><br />"They take consumer feedback on a daily basis and remove ads every day, so they're doing what they can, but that doesn't mean they can get them all," he said. "Consumers still need to be aware there are still going to be fake ads on Craigslist."</p>]]></description>
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      <title>Dell To Refund Money Early To NC Communities</title>
      <link>http://news.mync.com/site/news/story/43927/dell-to-refund-money-early-to-nc-communities</link>
      <guid>http://news.mync.com/site/news/story/43927/dell-to-refund-money-early-to-nc-communities</guid>
      <description><![CDATA[<p>Dell Inc. is getting a discount for quick repayment of more than $26 million in local incentives that went for naught when the company decided to close its North Carolina computer assembly plant.<br /><br /><a href="http://www2.journalnow.com/content/2009/nov/03/031015/dell-to-refund-money-early/" target="_blank">The Winston-Salem Journal</a> reported Tuesday that city and county officials agreed to allow Dell a $66,000 discount for paying the money back this week. A Dell spokesman confirmed the timing.<br /><br />The money had been due by the end of January.<br /><br />Dell announced last month it was closing its four-year-old desktop computer assembly plant by the end of January. More than 900 workers will lose their jobs.<br /><br />The computer company was offered more than $300 million in state and local incentives to choose a North Carolina factory site in 2004.</p>]]></description>
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      <title>Duke, UNC Hold Summit On Blacks And Recession</title>
      <link>http://orange.mync.com/site/orange/news/story/43871/duke-unc-hold-summit-on-blacks-and-recession</link>
      <guid>http://orange.mync.com/site/orange/news/story/43871/duke-unc-hold-summit-on-blacks-and-recession</guid>
      <description><![CDATA[<p>A summit at Duke University and the University of North Carolina will address whether the recession has disproportionately affected blacks.<br /><br />The African-American Economic Summit will be Sunday at the Chapel Hill school and Monday in Durham. <br /><br />Discussions will cover topics including housing, education, labor, wealth, health and incarceration as they relate to blacks and their communities. After each day's discussions, experts will meet privately to draft policy recommendations that will be sent to<br /><br />Gov. Beverly Perdue and President Barack Obama.<br /><br />The summit is sponsored by UNC's Institute of African-American Research and Duke's Research Network on Racial and Ethnic Inequality.</p>]]></description>
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      <title>Wake Is One County Bucking Recession Trend</title>
      <link>http://wake.mync.com/site/wake/news/story/43788/wake-is-one-county-bucking-recession-trend</link>
      <guid>http://wake.mync.com/site/wake/news/story/43788/wake-is-one-county-bucking-recession-trend</guid>
      <description><![CDATA[<p>In the state capital's downtown core, $500,000 decorative street lights beam down on a bustling crowd who've come to dine and play along a recently revitalized pedestrian plaza.<br /><br />A few states to the south, the lamp posts shine largely on empty lots in a subdivision outside Orlando where only a third of the 95 planned homes have been built. Wake County, N.C., and Lake County, Fla., shared the spoils of the real estate surge as two of the nation's 100 fastest-growing counties of this decade, until the recession hit and their paths diverged.<br /><br />Most of the places on that list, including Lake County, coughed up their quick gains. The AP Economic Stress Index - a score based on a county's unemployment, foreclosure and bankruptcy rates - shows that the nation's 100 fastest-growing counties have, as a whole, fared worse than the national average since the start of the recession.<br /><br />Yet 42 of those 100 counties are bucking that boom-then-doom trend, including one west of Des Moines, some in northern Virginia and the Texas counties outside Austin, Dallas, Houston and San Antonio, according to the AP's analysis.<br /><br />The fast-growing areas that have been resilient tend to have large, diversified economies, researchers and business leaders said.<br /><br />"When one industry goes down, it doesn't just take down the whole region," said Duane Dankersreiter, vice president of business information and research at the Dallas Regional Chamber, explaining that a diverse job market has developed over time there, drawing on technology, finance and energy. "We're able to absorb the hit much better."<br /><br />The areas often owe the favorable mix of jobs to recruiting by local leaders. Raleigh and nearby communities have spent decades courting pharmaceutical and technology companies to an area that's long benefited from state government, university and health care jobs.<br /><br />The effort has paid dividends during the downturn: LED lighting maker Cree Inc. recently announced that it was adding more than 500 jobs in Durham. Deutsche Bank AG announced this summer it plans to open a technology development center the Raleigh suburb of Cary, bringing more than 300 jobs with wages at twice the county average. <br /><br />Adrienne Cole, executive director of Raleigh Economic Development, said while the region's large construction industry has taken a hit, the other sectors helped provide stability. Wake County's unemployment rate of 8.3 percent in September falls below both the national average of 9.8 and the state's 10.8 percent jobless rate.<br /><br />"I think we could argue that we were one of the last communities in the recession and we'll be one of the first communities out," Cole said. Dallas County, Iowa, has worked hard to woo financial companies.<br /><br />About a decade ago, Dallas County was predominantly rural and agricultural. But the county's civic and business leaders in recent years lured new jobs to the area by smoothing the way for interested companies to receive state economic development grants.<br /><br />Nowadays, almost a fifth of the county's work force is in the financial services or insurance industries. The county had a stress score of 6.38 in September, compared to 4.02 in December 2007, a modest change.<br /><br />The newly built Methodist West Hospital just opened there, joining recent building expansions by Wells Fargo and Aviva USA.<br /><br />Unemployment was 5.1 percent in September, almost half of the national average.<br /><br />Reasonable housing prices have helped Rockwall County, Texas, on the outskirts of Dallas, corral transplants drawn to the area's diverse mix of energy and technology jobs. While the bedroom community has lost some shops, its tax revenues are stable and people continue moving there, said Margie Hooper, president of the Rockwall Area Chamber of Commerce.<br /><br />"We have seen a strong migration from California," Hooper said. The housing market in that state "was still so inflated that, if they could sell, they could come here and purchase a property for cash and bank the rest of it. We saw that quite a bit," she said.<br /><br />The eighth-fastest growing county between 2000 and 2008, Rockwall's stress number has increased only from 6.9 to 10.41 since the start of the recession. By comparison, Clark County, Nev., home to Las Vegas, has increased from 10.6 to 23.83.<br /><br />The once fast-growing areas that have suffered the greatest reversals of fortune include those where leisure-based economies drew large numbers of second-home buyers and low-paying workers from other states. Joining Clark County at the top of that list are Deschutes County, Ore., home of Bend; Pinal County, Ariz., a Phoenix suburb; Lee County, Fla., home of Fort Myers; and Osceola County, Fla., another Orlando suburb. Jay Butler, an associate professor of real estate at Arizona State University, said many of those areas brought a surge of new houses where there was no economic support system or job opportunities.<br /><br />On the other side of Orlando, Lake County's growth of almost 40 percent from 2000 to 2008 was fueled in part by the influx of retirees from other states who settled in over-55 communities. Lake County had a Stress score of 17.23 in September compared to 6.6 in December 2007 when the recession started. The recent slowdown is felt acutely in communities like Tavares, the county seat, which had grown accustomed to 3 or 4 percent annual growth to contribute to its tax base.<br /><br />"We anticipate a certain amount of growth, and then when that doesn't happen, our costs still go up," said Jacques Skutt, the city's director of community development.<br /><br />Despite having less than a third of the homes built in phase one of the Etowah subdivision in Lake County, developers will start planning for phase two of the development in the next few months.<br /><br />In one hopeful sign, permits recently were pulled to build 10 more houses in phase one.<br /><br />"That is our one glimmer of hope right now," Skutt said. "Nobody else is doing any kind of residential construction."</p>]]></description>
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