Local bank ordered to increase capital

A Fayetteville bank has entered a consent order with the Federal Deposit Insurance Corporation and the Georgia Department of Banking and Finance, all related to the ratio of capital on hand compared to the bank’s total assets and its total risk-weighted assets.

To raise the capital, State Bank of Georgia is allowed to sell common stock, sell “noncumulative perpetual preferred stock” and/or take cash contributions from the board, shareholders and/or the parent holding company, according to the order, which is dated Oct. 4, 2011. Read More»

Sunday alcohol sales start Dec. 4 in PTC, F’ville, Tyrone

Just in time for the holiday season, residents in Peachtree City, Fayetteville and Tyrone will have their libations liberated for package sale on Sundays.

Dec. 4 will be the first such Sunday afternoon when, after 12:30 p.m., those over 21 will be able to legally purchase packaged beer and wine in all three municipalities.

In addition, Peachtree City retains the distinction as the only jurisdiction in Fayette County where liquor — whiskey, gin, vodka and the like — is sold, as such sales are not allowed in Fayetteville or Tyrone. Read More»

Olive Garden requests more signage, F’ville Council says OK

Work continues on the new Olive Garden restaurant in Fayetteville. Photo/Ben Nelms.

The sign variance request by the Olive Garden restaurant under construction on Ga. Highway 85 North to install an additional sign was unanimously approved by Fayetteville City Council on Nov. 17. The original request was denied in October but was recommended for approval by city staff because the private access drive adjacent to the building essentially serves as a public street.

City Director of Public Services Don Easterbrook in a Nov. 4 memo said city staff is requesting reconsideration of the sign variance from Olive Garden. Read More»

Car dealer says, ‘We’re not closed!’

Car dealer says, ‘We’re not closed!’

There was some unfounded concern earlier this week that what looked like a depleted number of cars in the Allan Vigil Ford parking lot (shown at left) in Fayetteville might have meant the worst. But that is not the case. General Manager Dennis Kerce said the dealer is simply moving vehicles around to make way for a re-paving project that is about to occur. Photo/Ben Nelms.

$29.5M foreclosure hits Pathway

Hard times overtake company responsible for developing most of PTC

The latest local casualty of the defunct housing market is a company that for years has been nearly synonymous with the name “Peachtree City.” Pathway Communities, formerly the Peachtree City Development Corp., has approximately 1,600 acres across metro Atlanta valued at $29.5 million in foreclosure. Read More»

Coweta fares well in regional economic study

A report by the University of West Georgia, the “West Georgia Regional Outlook 2011,” shows County in substantially better economic shape, both now and in the near-term future, than most of its regional neighbors.

The Nov. 1 report was authored by The Center for Business and Economic Research and the Dept. of Economics at the Richards College of Business at the University of West Georgia.

The “West Georgia Regional Outlook 2011” reviewed the current economic realities in the west Georgia region that includes Coweta, Carroll, Douglas, Haralson and Paulding counties. Read More»

Support Small Business Saturday Nov. 26

Small Business Saturday will take place Saturday, Nov. 26, the day after what is known as “Black Friday.” The day is designed to drive shoppers to local merchants on one of the busiest shopping weekends of the year. The idea is that if we all “shop small” at our favorite local stores, we will help fuel the economy and make a huge impact. Read More»

Two SANY Crawler Cranes perform twin lift in Texas oilfield

When oilfield services provider 5J Trucking needed to expand its fleet of hoisting equipment, owner Jimmy Frye turned to SANY’s high-end line of crawler cranes. Shortly after taking delivery of his new 50- and 100-ton machines, Mr. Frye put them to the test in October with a twin lift in Texas’ Permian Basin. The pick required lifting the 142-foot, 90,000-pound derrick on the Pioneer 14 oil rig. Read More»

Distribution center brings 108 jobs to Newnan-Coweta

A company that makes sure you get your fast-food orders filled at Chick-fil-A, Arby’s, Burger King and Captain D’s and your sit-down orders at Red Lobster and Olive Garden is setting up shop in the Coweta County Industrial Park, bringing 108 jobs to the Newnan area.

MBM Foodservice — one of the largest privately owned foodservice distributors in the nation, specializing in providing food to more than 25,000 nationally franchised restaurants — will spend $12.6 million to convert a spec building to its needs, according to a news release Thursday from the office of Gov. Nathan Deal. Read More»

Fayette the next Silicon Valley? Don’t laugh . . .

Fayette County the next Silicon Valley? Sound farfetched? Maybe so, but Fayette has been ranked high in a list of 20 “micropolitan” areas identified by Business Insider as a top candidate possessing what the publication says is the right criteria to be poised for a high-tech boom.

The premise of the Oct. 24 story contends that there are millions of budding entrepreneurs outside America’s existing technology centers. But unlike in times past, the spread of broadband Internet access across the United States is paving the way for a different type of entrepreneurial and corporate expansion. Read More»

Recent Comments