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By Ted Williams |
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Hello Thursday. Last week, hedge fund owners laid off 25% of The Charlotte Observer's newsroom. It's now down to around 25 journalists. It used to be 300. So sad. So unnecessary.
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I got a few dozen texts from friends, philanthropists, and media reporters — yes, my $5M offer to buy the newspaper from 2 years ago still stands.
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When I originally made the purchase offer, insiders told me the hedge fund partners were on an extended European vacation 🤦‍♂️. Anyways.
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The Wall Street Journal reporting on my public offer
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đź’ĽÂ Hot Job:Â Brand Partnership Manager at Atrium Health ($106K – $159K). Hiring manager Sarah Bolt Garrison, a Providence Day and Chapel Hill grad.
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🥩 Opening soon: Guard and Grace reservations now live. The South End rooftop steakhouse opens in 2 weeks. I’m booked for opening night.
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👨 Shout-out: Brian Purcell, former Asana exec, for striking out on his own to start Cuadra Capital. Firm has invested $75 million in neighborhood retail centers. Targeting $500M within the next 3 years.
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MARKETS: YEAR-TO-DATE
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S&P 500 |
7,553 |
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Nasdaq |
25,978 |
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BULLISH
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Starting at just $400 per night, Cataloochee Ranch won’t fly under the radar for much longer
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Sweeping views of Great Smoky Mountains
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Travel guide: A few weeks ago, we took all 3 of our kids to Cataloochee Ranch. We’ll be back!
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Dude ranch on 825 acres. Packed with activities. Relais & Chateaux property.
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2 hours 45 minutes from Charlotte in the Great Smoky Mountains.
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Tagline says “The East’s premier ranch resort, since 1933.” It’s accurate.
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Backstory: David and Annie Colquitt purchased the property in 2020. They also own The Swag.
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The 40-year-old couple invested tens of millions of dollars into the ranch.
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Renovations took 4 years. It reopened in 2024, so everything feels new.
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They’re part of the Haslam family, whose total estimated net worth is around $15B.
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Booking: 2-night minimum. Only 30 accommodations. Each has its own name. 12 cabins. 18 lodge rooms.
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Our family of 5 stayed in the updated Fink Cabin ($1,200 per night before fees).
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Least expensive option is their Arrowhead lodge room ($400 per night before fees).
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Tiny tips: Chill by the chic mountain pool, sip a cocktail in the Tack Room, do the $160 ropes course, and order the beef raised on the ranch.
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Full guide: Pricing breakdown and 24-photo tour of Cataloochee Ranch
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PRESENTED BY TOCCARE
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Serious skin results with $395 microneedling at award-winning Toccare Skin Spa
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Gorgeous Dilworth studio, voted No. 1 Best Facial in Charlotte
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Skincare: Toccare is known for luxurious facials (my wife is obsessed), but their estheticians do the serious stuff, too.
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Microneedling: This signature $395 treatment stimulates collagen and cell renewal to improve fine lines, texture, hyperpigmentation, scarring and enlarged pores.
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Each treatment includes massage while you numb (yes, really).
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LED Light Therapy and Oxygen Dome help calm inflammation and support healing.
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Book it: Use code TINY10 for 10% off one Toccare microneedling treatment or an entire microneedling series, valid for the next 48 hours only.
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CAREER PIVOT
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32-year-old leaves $105K corporate job, buys paint franchise for $88K, exits for $1.5M in 3 years
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Clemson grad Zac Smith and his wife, who now live in Aiken, SC
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Situation: At 27 years old, Zac Smith had a cushy $105K corporate engineering job — but he dreamed of running a blue-collar home services business.
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Acquisition: "I left my job and bought an existing CertaPro Painters franchise," Zac told me. He put $88K down and financed the rest through an SBA loan.
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Running it back: "Rather than buy another franchise and pay royalties again, I started a new painting brand named Elevate Paints from scratch," said Zac.
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Passion: "I built a profitable painting business without ever holding a brush," says Zac, who just spun up a newsletter named The Blue Collar Founder.
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MONEY TALKS
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25-year-old recruiter making $82K finds roommate on Facebook to save $700
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OMB in LoSo, this recruiter’s favorite neighborhood for apartment living
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Money Talks is a weekly series showcasing how real people in Charlotte approach money. Participate.
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Living situation: “I rent a 2-bed, 2-bath apartment with a roommate in LoSo. Got 10 weeks free. We each pay $1,000 per month. Found my roommate on a Facebook Group, 1000% worth it.”
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Job: “I’m a recruiter at a Fortune 500 financial services company. $77K base plus a 7% annual bonus.”
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Work-life balance: “Amazing. WFH. 26 days of PTO, 10 sick days, and 11 company holidays. I take wayyy more time off now than when I worked at a company with unlimited PTO.”
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On your mind: “Having multiple income streams. Right now 100% of my income is tied to Corporate America. I see online creators with 6-10 different income streams. I’d love to get there.”
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Budgeting: “Yes. I use Google Sheets and the zero-based budgeting method. Every dollar is allocated somewhere.”
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Best expense: “$10 Planet Fitness membership. At some points I’ve paid $150 a month for bougie gyms, so there’s nothing like a $10 charge.”
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Portfolio: “I use my free financial advisor I get through work. $48K in investments right now, all low cost index funds.”
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Retirement: “My parents sold their business to private equity and retired in their 40s. So, the bar is high! Witnessing their freedom made a big impact on me.”
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Rich in Charlotte: “Sending kids to private school. My parents paid for my education and I worry about whether I can afford to do this for my future kids.”
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Full story: 25-year-old shares “Sinking Funds” strategy with $17K high-yield savings account
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MONEY SNACKS
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5 other financial headlines I’m snacking on
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Car-optional Oxbow opens leasing in Optimist Park. 389 units. Rivian fleet sharing. 8 weeks free. 410-square-foot units run $1,280 per month.
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Daybreaker opens pop-up at Cheat's South End tomorrow. Premium breakfast and lunch sandwiches. Run by the Crunkleton team.
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Yama SouthPark now offers reservations on Resy. Tasteful renovation. Order the $18 H&M Tuna Roll and $17 Morrison Filet Roll.
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Portable toilet rental business for sale asking $4.7M. Dumpsters too. Revenue $1.5M. 160 dumpsters. 200 toilets. 10 trucks. 10 employees.
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Ally’s new “Joy Index” shows that 56% of Gen Z budgets for joy. Highest of any cohort. 72% of respondents feel guilt spending on joy.
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HOUSEKEEPING
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New $2M Mexican Restaurant named RaĂces opens in South End near North Italia
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$23 Shrimp and Melon Crudo and $26 Scallop Ceviche
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Trending: $26 Hamachi Ceviche, $24 Ribeye Tacos (2), and $37 Scallop Mole Verde.
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Misunderstood: “People don't realize how big of an influence social media has on our business,” RaĂces owner Alfonso Bravo told me. “It’s now an essential part of operating a restaurant.”
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Happy Thursday! My wife and I are finalizing plans for a family trip to Washington, DC this fall. All 3 kids are pumped. If you have any museum or restaurant recs, reply back.
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– Ted
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PS… No newsletter next week. I’m traveling to Linville, NC!
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MONEY POLL
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Do you think owning a Charlotte rental property is a good investment?
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Last week’s poll results: Do you approve of the job billionaire David Tepper has done with the Panthers, Charlotte FC, and Stadium? (14,659 subscribers)
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