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Hello Sunday. It's Katie.
All weekend, the Harvey B. Gantt Center has hosted free virtual events and celebrations to honor the legacy of Dr. Martin Luther King Jr. Today there's a screening of The Dream Revisited.
Tomorrow, observed as a federal holiday, is full of family-friendly and educational activities, including a panel discussion on Civil Rights in the 21st Century at 10:45 a.m. You can register here.
WHO'S HIRINGThe pandemic continues to weigh on the local job market. Since mid-March, 1.4 million North Carolinians have applied for unemployment benefits, according to state data. Still, employers in Charlotte are hiring, like the ones below from the Agenda Job Board.
1 BIG THING: CORPORATE BACKLASHMultiple big Charlotte employers are suspending political donations or reviewing their policies following the riots at the U.S. Capitol last week.
Context: Bank of America, Duke Energy, and Wells Fargo, are among the corporations opting to suspend their political donations, as the Charlotte Observer first reported.
Why it matters: This kind of reaction from corporations is unprecedented. Corporate America has long been a major benefactor of the GOP and the policies it supports, such as deregulation.
But companies are deciding they no longer want to to be associated with certain candidates or ideologies.
Losing that kind of financial backing could weigh on candidates' competitiveness moving forward.
The big picture: These moves underscore how "the politics of pandering to the mob have become too dangerous for many of America's business leaders," as Axios reported.
Elsewhere in the U.S., Best Buy, Disney, and Nike are all among corporations to say they'll no longer support members of Congress who voted to decertify the Electoral College results.
Corporate donations to political action committees (PACs) tend to favor stability, says Eric Heberlig, professor of political science at UNC-Charlotte. They're less likely to support anti-establishment or ideologically extreme Republicans.
"What'll come out of this is they will reinforce those trends, and focus their financial support on mainstream Republicans and moderate Democrats," Heberlig said.
THIS WEEK'S BUSINESS TALKING POINTSHere's what else is going on in Charlotte:
(1) No more SouthPark apartment tower: Dominion Realty Partners has canceled plans for a 15-story apartment tower at an old Fifth Third Bank branch site across from Nordstrom on Fairview, the Charlotte Ledgerreports. After Dominion had the property rezoned, HomeTrust Bank came in and offered to buy the property instead, and Dominion accepted. HomeTrust plans to open a new bank branch there.
(2) Former IBM warehouse gets a makeover: San Francisco-based Shorenstein bought a 445,806-square-foot building that used to house operations for IBM and Flextronics in University City in 2019, CBJreports. The developer has been doing major renovations that include splitting the building and adding new amenities. The property's now called Commons at the Park.
(3) Wells Fargo cost-cutting: The San Francisco bank, which employs more than 27,000 in Charlotte, said in its earnings report last week that it cut 6,400 jobs in the fourth quarter, its biggest round of layoffs yet, the Observerreports. Wells Fargo has been cutting expenses at the same time it navigates changes regulators mandated following the bank's fake accounts scandal four years ago.
(4) Bank of America Plaza is now 'One South at The Plaza': Cousins Properties bought the property at 101 S. Tryon last year. Bank of America, the majority tenant, recently vacated its space. Cousins plans to invest $10M in common area improvements. (Photo courtesy of Cousins).
YOUR MONEYIt's OK to treat yourself. Here are a few ways to do so locally:
Sweet Spot Studio has a monthly cookie club subscription for $55. You could also opt for $50 for three months, or $45 for six months.
Goodyear House in NoDa makes spicy margaritas to-go for $13.
Chef Alyssa's Kitchen offers recorded cooking classes online — plus recipes for dishes like paella, quiche and gnocchi — for $15.
704 Shop has a Hornets-inspired teal pinstripe washable face mask for $18.
Mood House,which opened last week in Dilworth, has monthly memberships for $85. This includes a 50-minute signature massage plus benefits.
IN CLOSINGEnjoy the long weekend. In observance of Martin Luther King Day, we won't be sending a newsletter tomorrow. We'll be back on Tuesday.
- Katie
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