K&W names Jones
as chief financial officer
Fred Jones has been named chief financial officer of K&W Cafeterias Inc., based in Winston-Salem.
He will have responsibility for all financial functions, including financial planning and forecasting, budgeting, accounting, control, treasury, risk management and creditor relations.
"Fred brings to K&W an extensive background in strategic management of financial functions, having been chief financial officer of publicly and privately-owned companies, and most recently a partner in Newport Board Group," said Dax Allred, president of K&W Cafeterias.
City among top markets for first-time homebuyers
LendingTree said Tuesday it ranks Winston-Salem as the fifth-best housing market nationwide for first-time homebuyers.
The rank was determined by six factors: average down payment amount; share of buyers using a Federal Housing Administration (FHA) mortgage (buyers using FHA financing are required to put down as little as 3 percent, and have higher limits on the debt-to-income ratios); average down payment percentage; percentage of buyers who have less than prime credit (below 680); share of homes sold that the median income family can afford (Housing Opportunity Index); and average FHA down payment as a percentage of average down payment for all loans:
"Rising prices reduce buying power in some areas and make it even more challenging for first-time homebuyers who can't capitalize on profits from an existing home sale to at least partially fund the down payment for a new home," LendingTree said.
The rest of the top-five housing markets for first-time homebuyers are Little Rock, Ark., Birmingham, Ala., Grand Rapids, Mich., and Youngstown, Ohio.
Gildan places men's underwear on Amazon
Gildan Activewear Inc. said Tuesday it has placed all of its men's underwear styles on Amazon for the first time.
The collection includes styles of men's briefs, boxer-briefs, underwear T-shirts, tank tops and socks made from cotton sustainably grown and ethically harvested by U.S. farmers. The collection features CoolSpire wicking technology.
The manufacturer already sells women's and children's Gildan activewear, underwear and sock styles on Amazon.
Gildan is a direct competitor of Hanesbrands Inc. of Winston-Salem. At last count, Gildan had about 200 employees in Mocksville.
Insteel board declares 3-cent dividend
The board of directors of Insteel Industries Inc. declared Tuesday a quarterly cash dividend of 3 cents per share on its common stock.
The dividend is payable March 30 to shareholders registered on March 16.
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