Thursday, January 03, 2008

Quick hits: N.C. in good shape financially. Global TransPark ... that's another story

N.C. economy among the best in the nation
"Despite a turbulent economy nationwide, experts say North Carolina’s economy will grow in 2008," says News 14 Carolina's Tim Boyum. "The housing crisis will likely dominate headlines again this year according to those at the annual economic forecast forum in Research Triangle Park on Wednesday.

"If you're looking to sell a home in 2008, economists say you may want to wait six months or more.

" 'I am looking at a bottoming out sometime in the middle of the year and then some improvements in the second half,' said David Seiders, a member of the National Homebuilders Association. 'But as a year as a whole the numbers in total will be lower than 2007.' ..."

Tough picture drawn for TransPark
"While its revenues and tenants are gradually increasing, Kinston’s Global TransPark must make much greater progress to pay off its multimillion-dollar debt and avoid bankruptcy, according to a report released Wednesday by the State Auditor’s Office," writes the Jacksonville Daily News.

"The GTP’s governing body, the Global TransPark Authority, currently owes more than $32 million — including interest — to the North Carolina Escheat Fund. The loan’s 'maturity date' was extended to Oct. 1, 2009.

" 'The current amount of operating cash held by the Authority is not sufficient to pay the balance due to the North Carolina Escheat Fund and as such, substantial doubt about the Authority’s ability to continue as a going concern exists,' auditing firm Cherry, Bekaert and Holland LLP of Raleigh stated in its summary. ..."

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