Charlotte

BofA fails two mortgage-settlement tests

December 16, 2014

(The Charlotte Observer)

Bank of America failed two out of 31 tests that measure compliance with a 2012 legal settlement over mortgage loan-servicing and foreclosure practices. The Charlotte-based bank must implement a plan to correct the behavior or it could face penalties. New York-based Citigroup was the only other lender involved in the settlement to fail a test. 

Queens University names Premier's DeVore BusinessWoman of the Year

December 16, 2014

(The Charlotte Observer)

Queens University of Charlotte will honor Susan DeVore, CEO and president of Premier, as its 2014 BusinessWoman of the Year. DeVore joined the Charlotte-based company, which provides supply-chain services for the health-care industry, in 2003 and was named CEO in 2009. The company became publicly traded in 2013, raising $874 million in its initial public offering.

Israeli plastics manufacturer chooses Gaston County for new plant

December 15, 2014

(The Gaston Gazette)

An Israel-based plastics manufacturer will invest $13.1 million and create 75 jobs over five years in Bessemer City. Tosaf USA will begin construction on a manufacturing plant in Gaston County – the company's first in the U.S. – in early 2015. A local economic-development leader said access to Northern Southern's rail network and I-85 were critical factors in luring the plant. 

Charlotte's new economic development director settles in

December 15, 2014

(The Charlotte Observer)

Charlotte's new economic-development director says he will focus on promoting the Queen City's attributes, including its workforce and logistics hub. Bill Cronin, 49, says the city and and North Carolina shouldn't feel pressured to match every incentive package from competing locations. 

Concord airport seeks $79.7M for expansion

December 12, 2014

(The Independent Tribune, Concord)

Concord Regional Airport is requesting $79.7 million from the Federal Aviation Administration for improvements, including a $40 million separate terminal for anticipated growth in commercial flights. Las Vegas-based budget carrier Allegiant Airlines began passenger service last December, and City Manager Brian Hiatt says other carriers have expressed interest in Concord.

Patrick Cannon sells stake in Charlotte parking company

December 12, 2014

(The Charlotte Observer)

Former Charlotte Mayor Patrick Cannon has sold his share of the parking business he founded to owner Jeff Feemster. E-Z Parking also lost its contract with Carolinas HealthCare System, though the hospital system says its decision to switch vendors was unrelated to Cannon's arrest and imprisonment. 

Adviser says Family Dollar should delay vote

December 12, 2014

(The Charlotte Observer)

Institutional Shareholder Services said Family Dollar Stores stockholders should postpone a Dec. 23 vote on the Matthews-based retailer's pending deal with Dollar Tree. The shareholder advisory group says delaying the vote could result in a higher price. 

Dozens of vacant manufacturing sites for sale in Hickory area

December 12, 2014

(Hickory Daily Record)

Catawba County has 69 vacant warehouses and manufacturing buildings listed for sale, but city and county leaders say they need to build a high-end business park to meet market demands and recruit new companies. 

PNC rolls out redesigned branches in Charlotte

December 12, 2014

(The Charlotte Observer)

Pittsburgh-based PNC Bank has redesigned two of its Charlotte bank branches to allow customers to do more self-service banking using tablet devices and computers. PNC CEO William Demchak said the bank will focus more on converting its existing branches to the new model and less on closing branches.

Carolinas' first curling center to open in Charlotte

December 12, 2014

(The Charlotte Observer)

A $1.8 million curling center will open Saturday in north Charlotte, the first dedicated to the sport in the Carolinas. The 17,000-square-foot building features enough ice for up to four games to be played at a time. A curling center is scheduled to open in the Triangle area in about a month.

Charlotte developer to build 650-home community in Fort Mill, SC

December 11, 2014

(The Charlotte Observer)

Crescent Communities will develop a 550-acre residential community in Fort Mill, S.C. The Charlotte-based company will break ground in the first quarter of 2015 on Masons Bend, which will include 650 houses. Later phases of the project could include apartments and retail.

Bank of North Carolina names new market president

December 11, 2014

(The Charlotte Observer)

Bank of North Carolina named Rob Ellenburg president of its North Carolina southern region, which includes the Charlotte area as well as Buncombe and Henderson counties. He replaces Bill Connolly, who is now chief commercial banking officer. BNC Bancorp, parent company of the High Point-based bank, is the ninth largest bank in the Charlotte region by deposits.

DENR must run tests to prioritize coal-ash cleanup

December 11, 2014

(The News & Observer, Raleigh)

State environmental regulators need to gather more information about possible groundwater contamination at Duke Energy's coal-fired power plants across the state before they can determine which ash ponds first need to be excavated or capped. 

Wells Fargo adding 83 jobs in Charlotte

December 10, 2014

(The Charlotte Observer)

Wells Fargo will create 83 jobs in Charlotte as a result of shifting operations of its legal-processing unit from Philadelphia to Charlotte and Chandler, Ariz. The San Francisco-based bank has added about 1,400 jobs in Charlotte over the past year.

Wells Fargo most valuable U.S. bank ever

December 9, 2014

(The Charlotte Observer)

With a market capitalization of $285.5 billion, Wells Fargo is now the most valuable U.S. bank ever, according to data compiled by Bloomberg based on shares outstanding as of Oct. 31. The San Francisco-based bank's largest employee base is in Charlotte, where it has about 22,100 workers.

American Airlines plans $2B in upgrades

December 9, 2014

(The Charlotte Observer)

American Airlines plans to spend $2 billion to upgrade its planes and hubs, including Charlotte Douglas International Airport. Renovations will include faster kiosks at check-in counters and gates, work stations near gates and new seatback entertainment systems on planes. American, which operates more than 90% of CLT's daily flights, merged with US Airways last December.

Charlotte approves $16M for coliseum upgrades

December 9, 2014

(The Charlotte Observer)

Charlotte City Council approved $16 million in renovations for Bojangles' Coliseum, including $4 million for ice-making equipment, new seats and a new scoreboard for the Charlotte Checkers, the city's minor-league hockey team. The Checkers will move to the east Charlotte coliseum from uptown's Time Warner Cable Arena for the 2015-16 season.

Movement Mortgage reaches employment milestone

December 9, 2014

(The Charlotte Observer)

As the mortgage market continues moving toward home purchasing rather than refinancing, Virginia Beach, Va.-based Movement Mortgage announced it has hired its 1,500th employee. Co-founded in 2008 by ex-Carolina Panther Casey Crawford, the mortgage bank now employs about 200 in Charlotte ("Catching a Break," July).

McCrory, Duke Energy CEO talk coal ash on '60 Minutes'

December 8, 2014

(The Charlotte Observer)

On Sunday's episode of CBS' 60 Minutes, Gov. Pat McCrory questioned Duke Energy's knowledge of potential structural problems at its 32 coal-ash ponds across the state. Duke CEO Lynn Good said the February spill into the Dan River near Eden (cover story, April) was an accident, and that there is no "quick answer" to the ash disposal problem.

Duke Energy CEO to appear on '60 Minutes' Sunday

December 5, 2014

(The Charlotte Observer)

Sunday's episode of the CBS news magazine 60 Minutes will include an interview with Lynn Good in which the Duke Energy CEO talks about how the utility is dealing with coal-ash disposal. The interview, which will air at 7 p.m., was taped in September.
Related:
Contaminated seeps found near Duke Energy plant

Duke may find shortage of contractors to move coal ash