The Charlotte Observer from Charlotte, North Carolina • 35

I Thursday May 29 2008 0 0 A dow A 4568 1259403 NASDAQ 546 248670 500 549 139084 10-Year note 009 401 Crude Oil futures $218 $13103barrel Gold $90500 Contact Us: Business Editor Patrick Scott 704-358-5176 pscottcharlotteobservercom Stocks rise on durable goods data 5D charlottecombusiness PEARLSTEIN EXPLAINS ECONOMIC BUBBLES Blame a lot of the current skid on a system that encouraged too many Americans to think they were richer than they really were 4D Company reverses course picks one of its own instead of Countrywide president to guide mortgage operations By Christina Rexrode crexrodecharlotteobserver com Bank of America Corp reversed its decision to put Countrywide Financial president in charge of mortgage operations after the two companies merge this summer Instead the Charlotte bank eager to mark the combined company with a Bank of America stamp said Wednesday that it will put one of its own at the helm Barbara Desoer a 31-year veteran of Bank of America will lead the combined mortgage operations which will be based in home of Calabasas Calif The Countrywide president David will stay after the acquisition which is scheduled for early in the third quarter Sambol will be eligible to keep the $28 million retention package that Bank of America had crafted for him since he is leaving because of an BANK 2D OTHER CHANGES Shuffle was part of a broader shakeup at Bank of America 2D COPING IN THE DOWNTURN YOUR STORIES SUZANNE SUMMERVILLE STAFF PHOTO Barbara Heim knows gas prices keep some clients away from her craft shop So she brings the fun to them Have craft projects will travel Last summer when Barbara Heim advertised that her business could travel to customers few clients seemed to notice she said This year calls were pouring in by April libraries YMCAs and church camps asking I Ieim to come to them Heim owns Plaster Creations a paint-it-yourself plaster craft shop in Kannapolis She makes plaster casts of objects such as animals rainbows and Disney characters which children then paint Heim applies a sealant maybe some glitter and the children have a keepsake to take home Heim said youth-group organizers struggling with high gas prices are looking for alternatives to field trips She said she has 21 trips arranged for this year Last year she had She charges groups between $550 and $750 per child prices are definitely a strain on I Ieim said looking forward to a very successful True Heim now must put more miles on her car The prices of paint and sealer are also up She makes the plaster casts at her home so she have to pay shipping costs But the increased demand is helping to keep her profitable she said I or example: expected a slow Memorial Day weekend Not so was very she said think many people traveled But they wanted their children to have a good KERRY HALL HA Wheeler (left) shakes hands with Marcus Smith after a news conference at Motor Speedway in Concord last week Smith is taking over for Wheeler who has retired Smith picks son to lead speedway firm Rockefeller descendents fail to get Exxon changes Exxon Mobil Corp shareholders rejected resolutions calling on the world's largest company to bar its CEO Rex Tillerson (above) from serving as chairman 3D merger in question Reports conflict on whether deal is stalled Deal or no deal? the big question after conflicting reports this week about the state of merger talks between US Airways and United Airlines After The New York Times on Tuesday evening reported that talks had stalled The Wall Street Journal reported Wednesday afternoon that the chief executives are scheduled to meet today to discuss the merger The Times said the potential link-up was on and never advanced to the final stage The Journal said the carriers could approach their respective boards within three weeks for the OK to seal the deal Both newspapers cited anonymous sources Both airlines have declined to comment The chief executives Doug Parker of US Airways and Glenn Tilton of United are big boosters of airline consolidation Parker led the 2005 merger of America West Airlines with US Airways and launched an unsuccessful bid for Delta Air Lines while that carrier was in bankruptcy in late 2006 This year Chicago-based United was widely seen to prefer Continental Airlines as a merger partner But Continental said in late April that it planned to remain independent opening the door for Tempc Ariz-based US Airways US largest hub is in Charlotte where it operates more than 80 percent of daily flights JEFFERSON GEORGE Sambol who has faced heat from Congress and from shareholders will assist with the transition and then retire Bank of America spokesman Bob Stickler said he know post-retirement plans or how long he Desoer ranks at Charlotte proven his business savvy with our most recognizable sponsors and handled our sanction negotiations with NASCAR the thing made Marcus a success and will continue to do so is that in his heart a race fan He never loses sight of the fact that our customers are the key to everything we do and he always wants to put our fans One week ago on the day Wheeler announced his retirement Marcus Smith addressed the importance of serving fans love my he said love coming to the speedway every day I love racing and race fans and everybody who comes to woik here strives to make sure the fans have the best time possible and they want to come back In announcing earnings cailier this month Speedway Motorsports said admissions revenue has fallen and the company said it an-SEE SPEEDWAY 2D nas can position themselves for future success by working I ook for an announcement soon from JA Car-olinas of a new job-shad-owing program that lets kids learn about their Volponi dream career Did you know? JA Carolinas turns 50 on June 8 wwwjacarolina sorg Sometimes you want to go Quick what was the fiist place in Chat lotte to serve liquor by the drink? (Answer at the end of this item) Dave Diers who bought the old Press Box restaurant and bar in August is trying to dig into the history of his place The Press Box opened at 1627 Montford Drive in 1974 He also wants a histoticul sports mural painted on the 25-by-60-foot outside wall If you had a drink there in the 70s or fancy yourself a sports artist like LeRoy Neiman contact him at duve diers'ci bellsouthnet Answer: At 8 04 am on Nov 21 1978 Benedictines Restaur ant in 1 ox-croft served a Bloody Mary on the on up Marcus Smith earned a $225000 salary plus a $981000 bonus for his work as executive vice president of national sales and marketing with Speedway Motorsports in 2007 SMI employees: 770 full time 214 part time (as of Dec 31) Company 2007 revenue: $562 million Company 2007 net income: $38 million Source: Securities filings proved by the Speedway Motorsports board of directors Wednesday the day retirement after 33 years at the track took effect has been training for this opportunity throughout his professional Bruton Smith said come up through the Executive 35 takes reins from Wheeler who retired He'll also be president at Speedway Motorsports By David Poole dpoolecharlotteobserver com Marcus Smith the 35-year-old son of Speedway Motorsports Inc Chairman Bruton Smith has been named HA successor as president and general manager of Motor Speedway The younger Smith also has been named president and chief operating officer of Speedway Motorsports the Concord-based company with $562 million in annual revenue that owns Lowe's Motor Speedway and six other tracks that hold NASCAR races The company announced last week buying an eighth track the Kentucky Speedway Marcus promotions were announced after being ap- THE INSIDER JEFF ELDER that with Jcjj per month! So how do you harness that? Target clients You can do a very personal form of marketing via social net woi king sites says Eric Dudley pro of the Cliulotte- Dudley based online maiketing agency Websiteliiz (wwwwebsite-bizcom) Because of the personal de phone fit for George Jetson first day of mixed-drink sales in North Carolina 70 years Today Restaurant at 7822 lairview Road stands on this histoiic spot Whipping up profits On Memorial Day Chat lotte movie theaters showed the movie Jones and the Kingdom of the Crystal are you ready for this? 207 times by my count Those showings spanned from 9:30 am to 11 pm (Hey I went Been the theme and striking a rison Ford pose ever since) Nationally the fink made $126 million over the four-day holiday weekend And that count the Junior Mints Send us items! That's Richard Thomas now starring in Angry Men" at the Blumenthal This is the hottest play in town since Send business news tips to elderchar-lotteobservercom or call 704-358-5032 tails included in profiles on sites like Linkedln your company can target customers or advertise on the sites you embrace it or sit on the Dudley asks advise our clients to use it as a pilot to test how it Dudley was chosen as a Cliai rep at the Organization Global Leadership Conference in San Francisco last week You can keep up on WebsiteBiz online maiketing tips at wwwmarkete rinsightcom Teens and jobs Get a job! (If you started singing the Silhouettes 1957 hit by that name -sha-na-na-na sha-na-na-na-na you are officially old) Teenagers have a reason for not woiking this summer says Junior Achievement in a new national summer jobs poll The top two employers for teens are both being buttered by the economic downturn and high gas prices Retuilsules is the top choice for 21 percent of teens seeking jobs and 19 percent plan to look in the rcstnurantfust food industry they can go beyond specific says Phil Volponi Cl of Junior Achievement of the Central Cnroli- I Good economic news! ACN the digital phone company setting up shop in Concord has hired 100 people in the past few months and is hiring a couple of hundred more Much of this is a result of relocating from Michigan and the company is also expanding its service including the use of video phones That Jetsons-like technology is now available on plans in the US Canada and Puerto Rico and goes into Europe in July so you can check out your Swedish sweetheart while canoodle on the phone wwwmyacncom Social networking As far as business goes forget I ace-book and MySpacc Linkedln is the hottest way to netwoik online The business-contact site boasts 21 million members and is adding J2 million.