Charlotte

Documents show Duke Energy warned about drainage pipe in 1986

June 18, 2014

(News & Record, Greensboro)

Engineering reports from 1986 and 1992 show potential problems with a corrugated-metal drainage pipe at Duke Energy's Dan River Steam Station. The reports from the N.C. Utilities Commission were subpoenaed as part of a federal investigation into February's coal-ash spill at the plant. 

Charlotte Chamber CEO reacts to SC projects

June 18, 2014

(The Charlotte Observer)

Charlotte Chamber CEO Bob Morgan says Charlotte remains attractive for business despite Monday's announcements of thousands of jobs moving from the Queen City to nearby York and Chester counties in South Carolina. Three announced projects eventually could bring the Palmetto State up to 7,100 jobs.

Charlotte airport bill moves through NC House

June 18, 2014

(The Charlotte Observer)

The N.C. House approved a bill that directs the city of Charlotte allow an independent commission run Charlotte Douglas International Airport. The bill has been criticized opponents as a "sneak attack" to steal the airport from the city.

SC announces 3,900 jobs; NC failed to win projects

June 17, 2014

(The Charlotte Observer)

At least 3,900 new jobs are coming to York and Chester counties in S.C. Singapore-based Giti Tire will create 1,700 jobs and invest $560 million in a tire manufacturing plant in Chester County, about 40 miles south of Charlotte. Lash Group and LPL Financial will move a combined 2,200 jobs from Charlotte to Fort Mill in York County.

BofA's Merrill Lynch fined $8M for overcharging investors

June 17, 2014

(The Charlotte Observer)

Bank of America's Merrill Lynch unit must pay an $8 million fine and $24.4 million in restitution over claims it overcharged customers by failing to waive mutual fund fees. About 41,000 small-business retirement plans and 6,800 charities and retirement plan accounts for ministers and school employees were affected.

NC Senate introduces bill for coal-ash cleanup

June 17, 2014

(The News & Observer, Raleigh)

State Senate leaders introduced a bill Monday that would require closing all 33 unlined coal-ash ponds in the state within 15 years. Duke Energy called the plan "aggressive" and said it would present significant challenges for the Charlotte-based company, including finding a place to store the ash.

Three jobs announcements planned in SC south of Mecklenburg

June 16, 2014

(The Charlotte Observer)

Local officials from York and Chester Counties in South Carolina, just south of Mecklenburg, are planning three announcements today that could bring thousands of jobs to the area. Two companies will make announcements in York and one in Chester, where the downsizing of Springs Industries has led to huge job losses in recent years.

Financial-services company could triple employment in Charlotte

June 16, 2014

(The Charlotte Observer)

Robert W. Baird & Co. may triple its Charlotte employment over the next five years. The financial-services firm employs 50 there, and CEO Paul Purcell expects Charlotte to be one of the top five growth areas in the country for the next 20 years.

Food Lion parent cutting jobs overseas

June 16, 2014

(The Salisbury Post)

Delhaize Group may cut up to 2,500 jobs in Belgium, where the parent company of Salisbury-based Food Lion operates 147 stores, to reduce costs. Food Lion and Delhaize America would not be affected by the cuts. 

Former CertusBank execs want a jury trial

June 16, 2014

(The Charlotte Observer)

Three co-founders of Greenville, S.C.-based CertusBank who filed a lawsuit over their firings in April want a jury trial, where they can defend their reputations in a public forum. CertusBank was started in Charlotte by former Bank of America and Wachovia executives.

Charlotte's Pamlico Capital to buy South Dakota broadband networks

June 13, 2014

(The Charlotte Observer)

Charlotte-based private equity firm Pamlico Capital will pay $262 million to buy broadband networks in South Dakota from Englewood, Colo.-based Wow Internet, Cable and Phone. 

Charlotte buses to add routes for airport travelers

June 13, 2014

(The Charlotte Observer)

Charlotte's transit system will add two new bus routes next week to shuttle people from terminals at Charlotte Douglas International Airport to remote park-and-ride lots. The shuttles will help the airport deal with congestion this summer while new hourly parking decks are under construction.

Rod Higgins out as head of basketball ops at Charlotte Hornets

June 13, 2014

(The Charlotte Observer)

The Charlotte Hornets announced that Rod Higgins has stepped down as president of basketball operations just two weeks before the NBA draft.

BofA, Justice Department deadlocked over mortgage settlement

June 12, 2014

(The Charlotte Observer)

Negotiations to resolve investigations into Bank of America's role in the mortgage crisis have stalled. The Charlotte-based bank had offered to pay a settlement of more than $12 billion, which was less than the $17 billion the Justice Department had sought. The United States is said to be preparing a civil complaint against the bank.

Group says Duke doesn't need to increase rates to pay for coal-ash cleanup

June 11, 2014

(WRAL.com)

A Cleveland, Ohio-based nonprofit research group said Duke Energy can afford to clean up coal-ash ponds across North Carolina without increasing rates for customers. The Charlotte-based utility has estimated the cleanup could cost between $2 billion and $10 billion.

Carolinas HealthCare CEO warns of further cuts in healthcare industry

June 11, 2014

(The Charlotte Observer)

The CEO of Carolinas HealthCare System said Tuesday that the N.C. Senate's proposed cuts to Medicaid will jeopardize the financial health of hospitals. Michael Tarwater cited recent job cuts at hospitals across the state, including at High Point Regional and Wake Forest Baptist Medical Center.

Family Dollar adopts poison pill to delay potential takeover

June 10, 2014

(The Charlotte Observer)

In response to investor Carl Icahn's announcement that he has bought 9.4% of Family Dollar's stock, the Matthews-based company has added a "poison pill" provision that will kick in if any investor buys more than 10% of its stock. The poison pill would trigger the issuance of new stock, making shares less valuable. 

Wells Fargo now top SBA lender in NC

June 10, 2014

(The Charlotte Observer)

Wells Fargo has become the top SBA lender in North Carolina, approving 94 SBA loans between Oct. 1 and May 31, an increase of 21% over the same period for the previous fiscal year. Winston-Salem-based BB&T has approved 27 SBA loans during the same period.

Allegiant to double number of flights from Concord

June 10, 2014

(The Charlotte Observer)

Low-cost airline Allegiant Air will increase the number of flights from Concord to Orlando from two to four times a week beginning Nov. 2. The Las Vegas-based carrier became the regional airport's first commercial carrier in December.

Duke Energy signs agreement with states to pay for coal-ash cleanup

June 10, 2014

(The News & Observer, Raleigh)

Duke Energy signed an agreement with environmental officials from North Carolina and Virginia Monday to pay for cost associated with the cleanup of February's coal-ash spill in the Dan River. A federal criminal investigation, launched in the wake of the spill into relationships between Duke officials and state regulators, has not yet been resolved.