Business

Portman starts building Charlotte office tower

August 17, 2015

(The Charlotte Observer)

A dozen years after opening the Westin hotel in downtown Charlotte, Atlanta-based Portman Holdings has started construction of a 21-story office tower on an adjacent block. The development is expected to cost $122 million and open in February 2017.

ACN's love affair with Donald Trump

August 17, 2015

(The Wall Street Journal)

The close relationship between Concord-based ACN Inc. and Donald Trump was covered in a  lengthy Wall Street Journal story.

Trump, the Journal reported, featured ACN twice on his former reality TV show, “The Celebrity Apprentice.” He also made $450,000 for each of three speeches for ACN in 2014 and earlier in 2015. Trump told the Journal he doesn't know specifics of ACN's business model, which the newspaper described as "multilevel marketing."


Read more here: http://www.charlotteobserver.co/article31039698.html#storylink=cpy

A Michael Jordan endorsement is worth $10 million, aide says.

August 14, 2015

(The Charlotte Observer)

Use of Michael Jordan’s name is worth $10 million, the market chief for Jordan’s businesses said at a Chicago trial. Estee Portney made the comment at a civil trial in Chicago federal court involving grocery-store chain Dominick’s Finer Foods. Jordan claims the chain used his name and jersey number without permission.

Lenovo cutting 230 white-collar jobs in Triangle locations

August 14, 2015

(WRAL.com)

Lenovo, the world’s biggest PC manufacturer, is slashing 3,200 white-collar jobs, including about 230 in the Triangle in a cost-cutting move. The company operates its global executive headquarters in Morrisville and employs about 3,200 in the region. Its profits declined 51% to $105 million in the most recent quarter.

 

Belk sale spurs emotions of customers with long ties to the department-store group

August 14, 2015

(The Charlotte Observer)

The expected sale of Belk to New York private equity firm Sycamore Partners would remove local ownership of a department-store chain that has had a huge impact on North Carolina. Sycamore is devising an offer of up to $3.5 billion for Belk, according to several reports

 

Swisher Hygiene selling U.S. businesses for $40 million

August 14, 2015

(The Charlotte Observer)

Charlotte-based Swisher Hygiene, a Charlotte-based public company, said will sell its U.S. operations to Minnesota-based Ecolab for $40 million. Earlier this week Swisher sold its Canadian business. Shares of Swisher, a sanitation company, more than doubled to $1.30.

Jaguar Land Rover bypasses North America for auto plant

August 14, 2015

(The News and Observer)

Jaguar Land Rover, which was reportedly considering North Carolina and other North American sites to locate a new plant, signed a letter of intent for a possible new plant in Nitra, a city in the Slovak Republic, several news agencies reported. Several automakers have considered various Southeastern states for a new plant. North Carolina hasn’t attracted one.

 

Two developers interested in Winston-Salem City Center parking deck.

August 14, 2015

(Winston-Salem Journal)

Grubb Properties of Charlotte and Tight Line Partners of Winston-Salem have shown interest in acquiring a 730-space parking deck from the city of Winston-Salem, a city official said. The property is expected to sell for about $2 million. Tight Line is run by veteran Triad developer John Reece, while Clay Grubb heads Grubb Properties.

 

Duke CEO named to Boeing board of directors

August 14, 2015

(Charlotte Observer)

Duke Energy Corp. CEO Lynn Good was elected to the board of directors of Chicago-based Boeing Corp. She will serve on the finance and audit committees. She became Duke’s CEO in mid-2013, succeeding Jim Rogers.

Domino’s Pizza wants to hire 2,000 people in North Carolina.

August 13, 2015

(The Charlotte Observer)

Domino’s Pizza is holding a hiring day on Aug. 19 and hopes to add 2,000 at its North Carolina units.