Table of Contents January 2013
There wasn’t much debate about who Business North Carolina’s Mover and Shaker of the Year should be. Not only did Jim Rogers engineer a merger of two of the state’s largest corporations to create the nation’s biggest utility, but he got his job back the same day he relinquished it. On top of that, he helped bring the Democratic National Convention to Charlotte, shining a global spotlight on his headquarters city. But playing major roles in two momentous events didn’t mean his selection was without controversy. To be specific: Was the once and future CEO of Duke Energy Corp. hero or heel in 2012? Our Mover and Shaker of the Year can be either — or both. The magazine’s editors give the award to the person they feel left the biggest wake, for better or worse, in the state’s economy. Rogers made waves, but through three-quarters of the year we weren’t sure if they were from propulsion or revulsion.
Bobby Edgerton can’t predict the stock market’s behavior. Luck, he claims, plays a bigger role than most analysts admit. So the president of Raleigh-based Capital Investment Counsel Inc. clings to certainties where he can: “I do the numbers so I can buy a company on the cheap.” That worked well last year, when he edged out Frank Jolley to win Business North Carolina’s Hot Stocks competition, and he’s sticking with the strategy this year.
The rules go like this: Five professional stock pickers select three companies from BNC’s Top 75, the magazine’s annual ranking of the largest publicly traded ones based in the state. The panelist whose trio of stocks has the highest average total return wins. In last year’s contest, which ended Nov. 25, Edgerton’s picks posted a 36.7% return, bettering Jolley by 0.2 percentage point. The thin margin of victory shows how much the panel improved compared with the previous year, when three of the five members finished with negative returns. Nobody did this time, with four beating the S&P 500.
Art Director Merissa Jones focuses on photos to show how we looked at business last year.
Do the write thing.
How the economy turns.
Free & Clear
Unbundling higher education.
New governor has lots of school choices.
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