Charlotte

Nucor lowers first-quarter guidance

March 16, 2016

(The Charlotte Observer)

The Charlotte-bases steelmaker said Tuesday it expects earnings between 20 cents and 25 cents per share, lower than 28 cents analysts projected. The company said demand for its auto products remains strong, while energy, heavy equipment and agricultural markets are weak.

Jones to lead Cabarrus Chamber

March 15, 2016

(The Independent Tribune)

Following a national search, Barbi Jones was named executive director of the Cabarrus Regional Chamber of Commerce. Jones currently works as communications and engagement officer at the Charlotte regional office of the United Way of Central Carolinas. She replaces Patrick Coughlin, who was ousted after two years in the position.

Charlotte apartment boom not slowing down

March 15, 2016

(The Charlotte Observer)

Apartment vacancy rates are lower than a year ago — 6.2% compared with 6.7% — and rents are up, with the average Charlotte apartment costing $1,011 a month, compared with $938 a year ago. The number of units under construction also increased during the last six months, according to a binannual report from Charlotte-based RealData.

BofA paid Clintons more than $1M for speeches

March 14, 2016

(The Charlotte Observer)

Bank of America paid Bill and Hillary Clinton about $1.1 million to speak at four private events between 2011 and 2014. The bank said it's not unusual for it to pay former elected or appointed officials to speak at private gatherings, which are usually held for clients or senior execs.
More BofA news: Bank of America consumer exec relocates to San Francisco from Charlotte

Officials celebrate 'topping out' at Mint Museum tower in downtown Charlotte

March 14, 2016

(The Charlotte Observer)

A 43-story apartment tower built atop the Mint Museum in downtown Charlotte reached its highest point this week. Developer Childress Klein says the 394-unit building will open this fall, with construction wrapping up in late November. It's downtown's tallest new residential tower since the Vue opened in 2010.

Pair of projects brings 230 new jobs to Cleveland County

March 11, 2016

(The Charlotte Observer)

Uniquetex, a company that makes nonwoven fabrics for the health care industry, is investing $31.6 million and adding 150 jobs in Grover. It's the Chinese manufacturer's first U.S. plant. Also, KSM Castings USA will spend $80 million on an expansion of its Shelby plant, adding 80 jobs. The German company makes light metal automotive components.

American Airlines, other carriers agree to 10-year lease with CLT

March 11, 2016

(The Charlotte Observer)

According to the terms of the new lease, Charlotte Douglas International Airport will continue giving the airlines 40% of profits from parking and concessions. Under a new provision, the carriers will provide debt guarantees for expansion projects at the airport over the next decade. Charlotte City Council is scheduled to vote on the lease agreement on Monday.

U.S. Rep. Adams will move to Charlotte

March 11, 2016

(The Charlotte Observer)

U.S. Rep. Alma Adams said she will move to Charlotte from Greensboro, bringing her closer to her constituents if she wins reelection in the 12th District. Federal judges last month said the 12th District was racially gerrymandered and ordered new congressional maps. The new maps shrank the 12th District to include mostly Mecklenburg County.

Rite Aid closing Charlotte distribution center

March 10, 2016

(The Charlotte Observer)

As announced last year, Rite Aid will close a Charlotte distribution center and lay off 270 workers by June 18. Affected workers will be given the opportunity to apply for jobs at the company's new distribution center in Spartanburg, S.C.

Charlotte Food Lion stores getting a $215 million makeover

March 10, 2016

(The Charlotte Observer)

Food Lion will spend $215 million to remodel 142 stores in the Charlotte region, though the figure also includes stores in Boone and Blowing Rock. The Salisbury-based grocer already completed store remodels in Wilmington, Greenville and Raleigh markets.

Carolinas HealthCare plans $150M cancer center expansion

March 9, 2016

(The Charlotte Observer)

Carolinas HealthCare System will spend $125 million to build a new outpatient center for cancer patients and $20 million to renovate 32 patient rooms at Carolinas Medical Center in Charlotte. Another $5 million will go toward renovations at the 4-year-old Levine Cancer Institute, which sees 15,000 newly diagnosed cancer patients a year.

Berger assembles group to look at Charlotte's LGBT ordinance

March 9, 2016

(The News & Observer, Raleigh)

Senate President Pro Tem Phil Berger named 10 state senators that will explore possible ways to overturn a Charlotte ordinance that would allow transgender people to use the bathroom of their choice. Meanwhile, Asheville City Council said Tuesday that city doesn't need a similar ordinance.

Pilots say American Airlines needs a culture change

March 8, 2016

(The Charlotte Observer)

The American Airlines' pilots union sent a letter to CEO Doug Parker describing a "toxic culture" between managers and employees. The pilots complained of payroll and scheduling problems and said the carrier's product is inferior to that of rival Delta Air Lines. The Fort Worth, Texas-based airline operates about 90% of daily flights out of Charlotte.

Tarwater reflects on 35 years at Carolinas HealthCare System

March 7, 2016

(The Charlotte Observer)

Michael Tarwater, who is retiring in June as CEO of Carolinas HealthCare System, talks about the evolution of the former Charlotte Memorial Hospital into a 40-hospital system with $8 billion in revenue, hospital consolidation and more.

BofA workforce nears 2008 levels

March 7, 2016

(The Charlotte Observer)

Charlotte-based Bank of America had 213,000 employees at the end of 2015, just 6,000 more than in June 2008. Since CEO Brian Moynihan took over in 2010, the bank has cut about one-quarter of its workforce, and Moynihan has said the bank will continue trimming its workforce in an effort to improve profitability. Despite the global cuts, Charlotte's local workforce has held steady at about 15,000 over the last decade.

Charlotte apartment complex sells for $51.9M

March 4, 2016

(The Charlotte Observer)

Chicago-based Waterton has acquired Addison Park, a 426-unit apartment community in north Charlotte, for $51.9 million. The seller was Heitman, also based in Chicago, which paid $33 million for the apartments in 2010. Waterton plans to renovate interiors and common areas.

BofA plans job cuts in trading, investment banking

March 4, 2016

(The Charlotte Observer)

Bank of America plans to lay off about 150 trading and investment-banking employees next week, the Charlotte Observer reports. It's not clear where the cuts will take place, but New York is BofA's hub for the two business units.

Duke to build first solar farm in Rowan County

March 4, 2016

(The Charlotte Observer)

Duke Energy will build a 6-megawatt solar facility in Rowan County, about 50 miles northeast of Charlotte. It's Rowan's first solar project. North Carolina ranks fourth in the nation for installed solar projects.

American seeks nonstop flight from CLT to Havana

March 3, 2016

(The Charlotte Observer)

American Airlines could begin offering nonstop flights from Charlotte to Cuba. The federal government is expected to review applications from American and other carriers this summer, and approved flights could begin in the fall.

Duke Energy cutting 900 jobs

March 3, 2016

(The Charlotte Observer)

The utility said most of the job cuts will be voluntary departures and most will be in the Carolinas, where Duke employs more than 18,000 people. The cuts are part of a cost-cutting initiative outlined in Duke's annual report.