Charlotte.com: Business
News, sports and entertainment from Charlotte.com

• All remains quiet on the Trump front
  Has anyone seen Donald Trump around here?Nearly nine months ago his Trump Organization confirmed it was evaluating Charlotte for a potential office/residential/retail/hotel development.And back in May, three of his children -- Donald Jr., Ivanka and Eric -- told me they were excited about the city's potential.Donald Jr. said the company typically moves quickly and probably would wrap up its due diligence and buy land across from the Observer in the 600 block of South Tryon Street by late summer.Today, the Goodyear Auto Service Center is still operating at the Tryon-and-Stonewall-streets corner of the 2.5-acre tract, and cars are still parked on the remainder of the site.Ashley Campbell, whose Infinity Partners of Charlotte is working with Trump, said the project is still alive -- just taking longer than anyone anticipated.The Trumps determined during the summer that they didn't need two adjoining parcels they initially were eyeing in the block and decided not to buy them.But the Trump Organization has put up cash to secure a contract on a 2.5-acre tract and is negotiating to buy it from Crescent Resources LLC.Real estate sources say the land deal possibly could be completed by the end of the year.Trump representatives have held preliminary discussions with city officials about a potential 60-story or taller office tower and possibly a condo tower, five-star hotel and upscale retail.Tom Flynn, city economic development director, said he hasn't heard from the Trumps in several months.Those familiar with the process say the Trump children are proceeding as if they would do the project rather than license it to another developer.In Tampa, Trump filed a lawsuit in May against a licensee and pulled out of a financially plagued 52-story condo tower the two had been doing together.Real estate sources speculate that progress in Charlotte has been slowed in part by a tightening credit market in the aftermath of the nation's subprime mortgage crisis.As lending standards become more stringent, developers typically must put more equity into a deal or pare down their budgets. Even Donald Trump wouldn't be immune, they say.No information is coming from the Trump family. I haven't been able to reach them recently by phone or e-mail.This week, I revisited their Web site (www.trump.com), put in an e-mail request for information and left a phone message for Donald Jr. to call me.On the company Web site, I began to grasp why perhaps we haven't seen or heard from The Donald himself.We've read a lot about the flamboyant billionaire's worldwide hotels, condos, golf courses, casinos and office buildings. But his empire is so much larger.Did you know you can dine in Trump restaurants, attend Trump University, ice skate at a Trump rink, sip Trump vodka, sleep on a Trump bed, read Trump books, enjoy Trump entertainment and wear Trump suits, dress shirts, cuff links and neckties?There's also a Trump art collection and an Ivanka Trump jewelry collection.Charlotte doesn't show up -- at least not yet -- on the company's Web site list of future projects.I'm beginning to understand how easy it would be for our city to get lost in this amazing conglomerate of financial interests.Hey Trumps, do you remember Charlotte?It's that southeastern city between New York and Miami with the two big banks, the hub airport and growing skyline.Charlotte leaders were flattered when the Trumps disclosed their plans in March. A chamber official said that just the fact they were interested boosted the city's profile.National analysts regard Charlotte as one of the nation's hottest commercial markets with its 1 percent office vacancy rate uptown and its steady job growth.In fact, real estate experts say the center city urgently needs more office space. That's something for the Trumps to consider as they ponder what to do.Charlotte is waiting.Development DougSmith
• Toys 'R' Us puts emphasis on safety
  Concerns about toy safety since last summer's recalls, along with worries about the economy, have made shoppers more cautious and have resulted in generally sluggish toy sales. No retailer has as much at stake as Toys "R" Us Inc., the nation's largest specialty toy seller. In an interview with The Associated Press, Chairman and Chief Executive Officer Gerald Storch discusses toy recalls and details what the retailer and the industry are doing to make toys safer.Q. How has holiday business fared at Toys "R" Us? It started off very strong, but it has been relatively erratic since then. ... We know we are not going to be immune from (economic challenges), but we do know that in good times and bad, parents want to buy toys for their children and it is the last thing they are going to cut no matter how tough their budget is.We are satisfied with where we are, but believe it or not, half the season is still in front of us. And the last week is going to be huge.Q. How have the toy recalls affected consumer behavior? There doesn't seem to be a widespread rejection of Chinese-made toys. We are not seeing a lot of difference in toy buying patterns this year versus prior years. I believe that it's because with all ... the scrutiny that toys have received the consumers that we talk to believe the toys on the shelf now are safe. ... By and large, they are focused on the hot toys and they want to get the right toy for the right child.Q. Have all the toy recalls increased interest in eco-friendly toys? The green products have been selling very well, but there haven't been a lot in the marketplace. Next year, we expect to see a dramatic expansion in green-based products ... next year will be the year of the green toy.Q. What measures have you taken to ensure toy safety? We took a leadership role with our vendors and we have been very aggressive ... to make sure that they understand our high safety standards and we hold them accountable for achieving them. We have terminated two vendors already this year for failure to meet those standards and we have had some tough conversations with many others. We have raised our safety standards to make sure that toys cannot pass through that didn't meet those standards.Q. What's been most frustrating to you? There have been many advocacy groups who have been out there testing products. We respect totally their right to test their products, but sometimes their tests aren't done properly. We've had many, many cases where we have taken the products and retested them and found them to be totally safe.Q. How can recalls run more smoothly? Because in the past, the toys have not been batch stamped or date stamped it had been impossible to know when a toy was manufactured. That's why you saw millions of toys recalled when in some cases, a small percentage of toys was actually contaminated ... We are starting to require it going forward. It will make it much easier for both parents and retailers to identify which product is covered by a recall.Q. Has the risk of lead exposure in toys been overblown? As we sit here today, the number one risk of lead exposure for children comes from house paint, primarily in substandard housing, but it can affect any older home where renovation work has been done and the lead is accessible.I heard some people argue that the lead on the toys is so small that statistically it presents a very small risk to your child. That's probably true. Having said that, it is simply inexcusable for products not to meet the safety standards that have been established for them.
• Ex-Fed chief: Relief needed
  Alan Greenspan, former chairman of the Federal Reserve, suggested Sunday that a tax break or other government financial help for homeowners facing the mortgage crunch would be the best political fix for the economy.He cautioned against meddling with home prices or interest rates to address the housing problem.Greenspan did not specifically call for a tax cut. Instead, he called for the government to apply money to the severe housing market slump. Such a cash infusion would typically come through a tax break or a new government spending program."Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this," Greenspan said during an appearance on ABC's "This Week."Separately, Greenspan said he is concerned about signs of a resurgence of inflation."Core inflation is up. Wholesale prices had their highest increase I think in a generation. That raises the specter of stagflation again," said Greenspan, referring to a simultaneous stagnant economy and upward pressure on prices.He said the Federal Reserve should "do what it has to do to suppress the inflation rates that I see emerging, not immediately, but clearly over the intermediate and longer term period."Greenspan said a large number of people are in major financial stress, even when they've tried exceptionally hard to make their monthly mortgage payment. But some political solutions would only prolong their agony, he said."It's far less damaging to the economy to create a short-term fiscal problem, which we would, than to try to fix the prices of