🟢 Observer Offer

Hello Thursday. My wife isn’t interested, so I’m telling you about my latest golf rounds. 78 at CGC, 86 at Carmel North, 73 at CCC, and 84 at MPCC. Rollercoaster of emotions.

I just needed to play Quail to hit all 5 top courses — but I haven’t received a Quail invite since 2017 when I shot an ugly 88. After the round, I saw Johnny Harris and Felix Sabates in the locker room, but I got too scared to introduce myself. Anyways.

💼 Hot Job: Senior Manager of Golf Sponsorship Marketing at Truist. Hiring manager is Todd Achilles, Wake Forest grad and SVP of Sponsorships. Apply.

👩 Shout-out: Joe & Katy Kindred — owners of Kindred, Hello Sailor and Milkbread — for being very, very close to opening their new Mediterranean restaurant Albertine, in Uptown. Bullish. I’m going there tonight to investigate.

MARKETS: YEAR-TO-DATE

THE LEAD

Public offer: $5M for The Charlotte Observer

I'm publicly offering $5M to buy The Charlotte Observer from Chatham Asset Management, a hedge fund based in New Jersey. I'm serious. I’ll pay cash.

My thesis is simple — you don't have to strictly manage the newspaper as a distressed asset, it can be transformed.

I worked on the The Charlotte Observer management team from 2013 to 2015. There's more cash left in these newspapers than people think.

My plan: I’d go digital-only with a well compensated 75-person team. It’ll generate $1M in profit on $13.5M in revenue (11% margin, similar to the New York Times).

I’m very curious if the Chatham team will email me.

Full story: $5M offer for The Charlotte Observer and my transformation plan

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Mood House was recently voted #1 best massage in Charlotte. They’re also the official massage provider of the Carolina TopCats Cheerleaders.

I got a massage at their new Oakhurst location on Tuesday from Amanda. 11/10 relaxation. Shout-out to owner Cristina Wilson!

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BACK OF THE NAPKIN MATH

Salted Melon crushing it in Eastover as sales "exceeding expectations significantly"

"We've been thrilled with the customer response," said owner Thomas Coker, who also runs Reid's with his dad, Tom. "Sales are roughly 30% over our original forecast.”

I love the Coker family.

Popular dishes: Bandito breakfast burrito, perfect pesto caprese, and poke me bowl (my wife's fav).

My math: I bet they spent $300K on the mostly cosmetic upfit from the former Hubee D’s space. Let’s say it does $2M in sales at a 15% margin — that’s a $300K profit. Private equity guys eating there must love that ROIC!

After this investment, Thomas (30) might be evaluating Grandfather vs Linville for a second home.

Big question: Since they’ve already been spotted at Reid’s, is it safe to assume that Blake Lively and Ryan Reynolds become regulars at Salted Melon when they move to Eastover?

TINY MONEY JOB BOARD

Who’s hiring in Charlotte? Trending jobs

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MONEY TALKS

Young couple making $160K contribute $400/mo to toddler's investment account

Money Talks is a weekly series showcasing how real people in Charlotte approach money. Participate.

Here’s a look into the personal finances of a married guy in his early 30s with a toddler.

Income: “I make $110K as an education nonprofit executive and my wife makes $50K as a licensed social worker. We split childcare duties. I also have 3 other revenue streams (coaching, consulting, teaching).”

Living situation: “We are currently paying $1,000 more a month for a house that is 1,000 square feet larger than the one we had up north. We decided to go for a 2-1 buydown, 30-year mortgage where we got the full 3% concession and used it to lower our mortgage rate to 4.99% in year 1, 5.99% in year 2, and 6.99% in year 3.”

What's "rich" in Charlotte: “An individual making $200K or a couple making $300K.”

Budgeting: “We have a ‘Life Budget’ Google Doc that we began two years ago. It is about 90-95% accurate most of the time.”

Retirement: “We have an aggressive goal of $10M by retirement age (60-ish years old) and we are on our way. That means we need to invest at the max of $23K for our 401k, ROTH, Individual Investment accounts, and backdoor ROTH.”

Full story: Young couple making $160K contribute $400/mo to toddler’s investment account

CHARLOTTE MONEY SNACKS

Other financial headlines I’m snacking on

1 MEME FOR THE ROAD

I forced my 3 young children to take this Anchorman-inspired photo of me after dinner

2,081 subscribers to be exact. Also, my daughters told me Will Ferrell was “prettier” than me.

Poll results: Subscribers chose Beef N Bottle as their overwhelming #1 choice for “restaurant worth the money” in Charlotte.

Ask: Please share Tiny Money with 1 smart, good looking friend. I’m trying to grow the list to 5,000 by Christmas.

Thank you for the early Tiny Money support, it means a lot to me! Reply with feedback. I read and respond to everything.

– Ted

TODAY’S MONEY POLL