Charlotte

Other Mecklenburg towns want Google Fiber

January 29, 2015

(The Charlotte Observer)

Mecklenburg County residents outside of Charlotte − including in Huntersville and Mint Hill − want Google to bring its ultrafast Internet network to their towns as well. About 200,000 of the county's nearly 1 million residents live outside of the city limits.

Hickory-based CommScope buying TE Connectivity units

January 28, 2015

(Winston-Salem Journal)

CommScope Holding will pay about $3 billion for TE Connectivity's telecommunications, enterprise and wireless businesses. The deal, expected to close by year-end, will allow the Hickory-based company to expand its geographic footprint.

Hedge fund sells Family Dollar shares

January 28, 2015

(The Charlotte Observer)

Trian Fund Management sold about 6 million shares of Matthews-based Family Dollar Stores, reducing its ownership stake from 8% to about 2%, according to a securities filing Tuesday. A separate SEC filing showed that 89% of the discount retailer's shares who voted approved its pending $8.5 billion sale to Chesapeake, Va.-based Dollar Tree.

Carolinas HealthCare's contract with insurer set to expire

January 28, 2015

(The Charlotte Observer)

Carollinas HealthCare System's contract with insurer UnitedHealthcare will expire Feb. 28 if the two companies are unable to strike a deal. Negotiations began last fall, but the insurance company says there are still two points of disagreement.

Sonic Automotive looks to expand in 2015

January 27, 2015

(The Charlotte Observer)

Sonic Automotive plans to acquire more auto dealerships and expand its chain of EchoPark used-car retail stores. The company plans to spend $200 million on real estate and buildings in 2015. Charlotte-based Sonic has more than 100 dealerships in 14 states, mostly in the Southeast and Southwest. 

Charlotte, Triangle await Google announcements this week

January 26, 2015

(The Charlotte Observer)

Officials in Charlotte received a "Save the Date" invite from Mountain View, Calif.-based Google for a reception Wednesday evening. Raleigh-Durham officials also received invitations to a similar event on Wednesday afternoon. Google is considering Charlotte and seven Triangle cities for deployment of its Google Fiber high-speed Internet service, which is nearly 100 times faster than traditional broadband.

Bank of America expanding into Colorado, Minnesota

January 26, 2015

(The Charlotte Observer)

Bank of America held a grand opening for its first branch in Colorado, the first new market the bank has entered since 2003. The Charlotte-based bank also plans to open its first branch in Minnesota in the second quarter.

Family Dollar shareholders approve sale to Dollar Tree

January 23, 2015

Family Dollar Stores Inc. shareholders voted Thursday to approve the sale of the Matthews-based discount retailer to Chesapeake, Va.-based Dollar Tree Inc.
Related: Next for Family Dollar: Completing the deal

Charlotte distribution center sells for $52M

January 23, 2015

(The Charlotte Observer)

The 1.1-million-square-foot Logistics Pointe distribution center in southwest Charlotte has sold for more than $52 million. A joint venture of LRC Opportunity Fund and New York Life Real Estate Investors bought the complex, which was once occupied by grocer Winn-Dixie before it declared bankruptcy.

Charlotte mayor wants DOT to study opening I-485 lane

January 23, 2015

(The Charlotte Observer)

Charlotte Mayor Dan Clodfelter says he plans to ask the N.C. Department of Transportation to consider opening an additional lane on Interstate 485, which was one of the state's most congested highways before an $82 million widening project added a new lane in each direction last month. That project included the addition of an extra-wide shoulder that the DOT plans to convert to a toll road in about five years.

Chiquita says leaving Charlotte will cost up to $40 million

January 22, 2015

(The Charlotte Observer)

Chiquita Brands International said exiting Charlotte will cost it $25 million to $40 million, including employee severance and relocation expenses and breaking its lease, which runs through 2025. The produce company also will refund about $2 million in state and local incentives. Closing its headquarters will take between 12 and 18 months, Chiquita said in a securities filing.

Indian drug-maker mulls Monroe plant expansion

January 22, 2015

(The Charlotte Observer)

Glenmark Pharmaceuticals is considering a $9.5 million expansion of its new Monroe plant, which isn't scheduled to begin production until April. The Mumbai, India-based company announced in July it would invest $17 million in the manufacturing plant, where it will make generic drugs. Union County and Monroe unanimously approved incentives for the expansion.

Toshiba names new leader for Charlotte-based business

January 22, 2015

(The Charlotte Observer)

Toshiba named Ali Azad president and CEO of Charlotte-based Toshiba America Energy Systems, which was formed as part of a corporate reorganization and combines three of the Japanese company's existing businesses. Azad was president of Massachusetts-based BHI Energy. The new company will employ about 500 people.

Duke Energy's sale of Midwestern power plants delayed

January 21, 2015

(The Charlotte Observer)

Duke Energy's $2.8 billion sale of 10 Midwestern power plants to Houston-based Dynegy has been delayed after a federal agency asked for a more detailed economic analysis of the deal. The sale was expected to close by February, but the companies no longer expect to complete the deal before the end of the first quarter, Duke said in a securities filing. 

Grant Thornton name's Charlotte's Moore CFO

January 21, 2015

(The Charlotte Observer)

Grant Thornton named Billy Moore chief financial officer, effective Aug. 1. Moore, 62, is the professional standards partner for the Chicago-based accounting firm's Carolinas practice. Like Grant Thornton CEO Mike McGuire, Moore is based in Charlotte.

Charlotte City Council paves way for Cotswold Publix

January 21, 2015

(The Charlotte Observer)

Charlotte City Council approved a rezoning request to allow for the construction of a Publix grocery store in the Cotswold neighborhood. The developer will tear down an existing building on Randolph Road and build the new store directly across the street from an existing Harris Teeter. The council also approved a 194-unit apartment complex with 15,000 square feet of retail in Charlotte's Ballantyne area.

Citizens group seeks to halt I-77 toll lanes

January 20, 2015

(The Charlotte Observer)

A group called Widen I-77 plans to file a legal complaint Tuesday attempting to stop construction of toll lanes on Interstate-77 north of Charlotte. The N.C. DOT chose Spanish infrastructure company Cintra to build toll lanes from Charlotte's Brookshire Freeway to Exit 36 in Mooresville. Cintra will pay most of the costs of the $655 million project and will collect most of the toll revenue over 50 years.

BofA says 800,000 customers enrolled in Apple Pay

January 20, 2015

(The Charlotte Observer)

Charlotte-based Bank of America said about 800,000 of its customers − about 5% of its 17 million mobile users − signed up for Apple Pay during the first three months the service was available.

Economist: High-tech manufacturing jobs needed

January 19, 2015

(The Salisbury Post)

Economist and Associate Professor Eric Hake, who teaches at Catawba College, says the economy needs to grow more quickly and that rural areas, including Rowan County, should focus on recruiting high-tech manufacturing jobs.

40-acre solar farm proposed for Lincoln County

January 19, 2015

(The Charlotte Observer)

A public hearing will be held Feb. 2 on a proposed 40-acre solar farm in eastern Lincoln County, where Charlottesville, Va.-based HelloSage Energy has a lease option with landowners. County commissioners voted in December against a 36-acre solar farm proposed by Chapel Hill-based Strata Solar, citing potential impact on adjoining property values.