Here are some of the stories we're covering today:
Belk To Sell Itself And Go Private In $3B Deal
Department store chain Belk Inc. says it has agreed to sell itself to New York-based private equity firm Sycamore Partners and go private in a deal that it valued at about $3 billion.
Under the terms of the agreement, Belk stockholders will receive $68 for each of their shares. Tim Belk will remain as the company's CEO and the company will remain based in Charlotte, North Carolina.
Belk said certain shareholders representing the bulk of its shares have agreed to vote in favor of the deal. The company operates nearly 300 stores in 16 Southern states.
Lawmakers May Need Even More Time For North Carolina Budget
Republican leaders in the General Assembly are running out of time to complete a budget before another deadline to pass a spending plan that's almost two months late.
Key House and Senate budget negotiators said Monday they've been exchanging offers on how to divvy up spending $21.7 billion this fiscal year among agencies.
The budget was supposed to be done by July 1. Lawmakers have passed two temporary spending measures for more time to work out a deal. The second measure expires Aug. 31.
2 Former NC Prison Officers Indicted In Kidnap Probe
Two former North Carolina correctional officers have been indicted as part of a wide-ranging investigation into the kidnapping of a prosecutor's father.
U.S. Attorney Thomas Walker said Monday that 31-year-old Gregory Dustin Gouldman and 29-year-old Jason Dean were each charged with extortion under color of official right. Dean was also charged with lying to the FBI and a federal grand jury.
Walker says the men were indicted as part of an investigation into the kidnapping last year directed by an inmate with an illegal cell phone. The man was rescued by the FBI.
Coalition Of Groups Sues Halifax Commissioners Over Schools
A coalition of advocacy groups and parents is suing the Halifax County commissioners over a three-district school system which the plaintiffs say divides children into "good" and "bad" school districts along racial lines.
The 38-page lawsuit was filed Monday in Halifax County Superior Court.
In their lawsuit, the groups say the commissioners have maintained an inefficient system that creates obstacles for local children that counters North Carolina's constitutional guarantee to all schoolchildren to the opportunity for a sound, basic education.
Also, the plaintiffs say that because of the county's tax distribution method, the system imposes a stigma of racial inferiority upon black students, undermining academic achievement and frustrating their access to quality educational resources.
Residents Meet To Discuss Development in Winston-Salem Neighborhood
About 150 Winston-Salem residents turned out Monday night in opposition to a proposal to tear down the historic Cloverdale and Ardmore Terrace apartment buildings.
The demolition is part of a private redevelopment plan made public earlier this month, which would raze the post-war apartments and replace them with mixed-use residential and retail facilities.
City Councilman Dan Besse organized the forum and has lived in Cloverdale for the past five years.
He says destroying the apartments would mean losing valuable housing for middle- and low-income residents in a diverse and historic neighborhood.
Besse says the developers appear to be willing to negotiate changes to their proposal, but what those changes may be is still unclear.
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