BCR's Daily Fishwrap Report for January 12, 2010

Self-Help Absorbed More Credit Unions: Turns out the story on Self-Help's growth in these recessionary times is bigger than just the takeover of Kern Central Credit Union we reported on yesterday. And it's tough to keep up with all the moves. The N&O and H-S both report on the Kern deal and Monday's announcement by Self-Help that it acquired Greensboro's Choice Federal Credit Union. The H-S also notes the pick-up of another California credit union, El Futuro, on Jan. 1; the N&O adds that Carolina Mountains Credit Union was picked up by the Durham entity in the fall. Altogether, the Herald-Sun estimates Self-Help has grown, in toto, to $560 million in assets -- and media reports suggest this could be an opportunistic time for the organization to grow further. (Herald-Sun, N&O)

IEM Gets County Incentives: Baton Rouge-based emergency and security consulting firm IEM received as much as $100k in county economic development dollars for moving their headquarters and creating several hundred jobs to RTP. Not to be missed in the H-S recap: After the very perennial Victoria Peterson griped about whether the company was a minority-/woman-owned business, BOCC member Joe Bowser thoughtfully pointed out IEM president and founder Madhu Beriwa; she was sitting a couple of seats down from Peterson. (Herald-Sun)

Street Magazine Draws Scrutiny: A concerning article in the N&O this morning looks at "Diamond Resort Magazine," a pricy ($10) periodical hitting the streets and apparently being snapped up for purchase. The magazine contains exhortations not to "snitch" on criminals and provides what the N&O says was privileged information from the trial of a drug dealer, along with details on a 2005 quadruple homicide at a Durham townhouse that the mother of one victim fears will inhibit the ongoing investigation. (N&O)

Skepticism on 10-Year Plan: The renewal contract for the agency overseeing Durham's 10-Year Plan to End Homelessness was deferred by the BOCC last night, with at least two commissioners expressing concerns that they weren't clear on the progress of the effort and wanted more information, which they should get at a work session next month. (N&O)

Warmer Weather on the Way: The arrival of weather in the 50s by mid-week should go a long way to halt the inexorable march of polar bears through the southeast US, though it's unclear whether the warm-up will happen soon enough to keep woolly mammoths and other Ice Age remnants from coming back to life amidst the frozen tundra of Greensboro. (Herald-Sun)

Comments

[Steve Graff]

I find this "Don't Rat" magazine to be interesting, especially in light of a presentation on the PAC2 meeting last night by Maj. Paul Martin from the Durham Sheriff's office. He presented his thoughts on crime in Durham, one of which is his belief in the existence of a "Durham Drug Lobby" - i.e. drug dealers and their supporters, some of them in positions of power, who fight all efforts to curtail Durham's drug and crime problem.

[Mary]

I find Ms Croudy's motivations for publishing the magazine interesting to say the least.

The now 23 year old met her convicted cover boy several years ago and was "impressed with his charm and singing talents." Hmmm.

I wonder exactly how did she obtain funding for this glossy $10 magazine? Did she break laws distributing information exempt from public records laws?
Lastly, did this young (imho naive) woman put herself in jeopardy by publishing this rag?

I'm all for freedom of press but would love to see a bit more prodding. I hope the N&O's next round of 20 layoffs will still be able to support this kind of journalism.