Charlotte

Charlotte-based union of US Airways pilots files lawsuit over seniority

March 5, 2014

(The Charlotte Observer)

A union representing US Airways pilots has filed a lawsuit over who should have seniority after the airline's merger with American Airlines. Seniority is a factor in deciding which routes and planes pilots fly, which determines how much money they make. 

Charlotte to host CIAA tournament for six more years

March 4, 2014

(The Charlotte Observer)

The CIAA announced it will keep its annual basketball tournament in Charlotte for another six years, and it will relocate its headquarters there from Hampton, Va. After tournament officials said they may seek proposals from other cities to host the tournament after this year, the Charlotte Regional Visitors Authority increased its financial commitment to the CIAA from $1 million to $1.4 million. 

Plan to redevelop Rock Hill, SC mill district could bring 1,000 jobs

March 4, 2014

(The Charlotte Observer)

Developers unveiled a plan for a redevelopment of Rock Hill, S.C.'s former textile district they say will create 1,000 jobs. Knowledge Park is a 23-acre tract that would connect Rock Hill to Winthrop University and would include student housing, office space, retail space and senior housing.

Textile manufacturing making a comeback in Rowan County

March 3, 2014

(The Salisbury Post)

Though the jobs are more technical than the manual-labor positions of the past, a local economic-development leader says the textile and apparel manufacturing industry is bringing employment back to its highest level in ten years.  

Questions rise over Duke Energy's Riverbend plant near Charlotte

March 3, 2014

(The Charlotte Observer)

Duke Energy's retired Riverbend power plant, and two coal-ash ponds with four times the capacity of those at its Dan River plant, are protected from Charlotte's largest drinking source, Mountain Island Lake, by two 80-foot dams. A water-quality official from Mecklenburg County says a spill there would be catastrophic.

DENR issues violations against Duke Energy over coal-ash spill; fines likely

March 3, 2014

(The Charlotte Observer)

The state Department of Environment and Natural Resources issued two notices to Duke Energy for violation of environmental standards related to the Dan River coal-ash spill. The utility will be cited for failing to have a stormwater permit for the Dan River plant and for failing to prevent the spill and maintaining water quality standards in the river. 

Wells Fargo cuts more jobs in mortgage division

February 28, 2014

(The Winston-Salem Journal)

Wells Fargo will lay off 25 more mortgage workers in Charlotte and three in Wilmington. The San Francisco-based bank which has a regional headquarters in Charlotte announced 700 nationwide layoffs in this round of cuts. The layoffs follow deep cuts in its mortgage division last August and September.

Bank of America protests $2.1 billion federal penalty

February 28, 2014

(The Charlotte Observer)

Bank of America says a federal government request for the bank to pay a $2.1 billion penalty over bad home loans its Countrywide division sold to Fannie Mae and Freddie Mac is unfair and legally flawed.

NY investment firm opens lending office for rental-home owners in Charlotte

February 28, 2014

(The Charlotte Observer)

BR2 Finance, a subsidiary of New York investment firm Blackstone Group, has opened a Charlotte office where it currently has 10 employees. The company loans money to landlords who wish to purchase more rental properties as investments. 

Leader of Charlotte airport commission asks FAA to weigh in over who's in charge

February 28, 2014

(The Charlotte Observer)

The chairman of the Charlotte Douglas Airport Commission has asked the Federal Aviation Administration to speed up its decision over whether the independent commission or Charlotte City Council should run the airport. Robert Stolz says city and state officials have failed to reach a compromise over who should control the airport.

Mortgage company selects Charlotte for headquarters

February 27, 2014

(The Charlotte Observer)

Irongate Home Finance will establish its headquarters in downtown Charlotte and will hire 125 people over the next 18 months. The mortgage company anticipates hiring 75 to 100 people per year through 2019. CEO Mark Marashlian said Charlotte's reputation as the second-largest banking center in the country contributed to the company's decision to locate there.

Advocacy group says Duke Energy paid no federal taxes from 2008-2012

February 27, 2014

(The News & Observer, Raleigh)

Citizens for Tax Justice issued a report that claims a corporate tax loophole allowed Charlotte-based Duke Energy to avoid paying federal taxes in recent years. A Duke spokesman says the company's taxes were lowered by bonus depreciation rules and that the utility pays hundreds of millions of dollars in state and local taxes each year.

Premier Inc. partners will racetrack alliance to provide concessions

February 27, 2014

(The Charlotte Observer)

Charlotte-based Premier Inc. will provide food-service concessions to members of Speedway Benefits, a Charlotte-based alliance of grassroots racetracks which has about 300 members. The health-services company also provides supply-chain services to non-health-care groups.

Publix opens first NC store today in Charlotte

February 26, 2014

(The Charlotte Observer)

Publix Super Markets opens its first store in North Carolina today in Charlotte's Ballantyne area. The Lakeland, Fla.-based grocery store chain plans to open 14 supermarkets in Charlotte over the next two years, as well as stores in Asheville, Cary and Winston-Salem.

Charlotte's Babcock & Wilcox gets federal contract worth up to $1.3 billion

February 26, 2014

(The Charlotte Observer)

Charlotte-based Babcock & Wilcox signed a three-year contract with the federal government worth up to $1.3 billion. B&W will make nuclear components for U.S. Naval defense programs, including power systems for submarines and aircraft carriers.

Charlotte chooses Atlanta valet-services firm for airport

February 26, 2014

(The Charlotte Observer)

Charlotte City Council approved hiring Atlanta firm AmeriPark to handle valet parking services at Charlotte Douglas International Airport. AmeriPark will begin a three-year contract at the airport this summer.

Charlotte's Swisher to take $101 million goodwill charge

February 26, 2014

(The Charlotte Observer)

Swisher Hygiene will take up to a $101 million non-cash charge which will erase most of the company's assets on its balance sheet. 

NTE Energy to build $450 million power plant in Kings Mountain

February 25, 2014

(The Charlotte Observer)

A Florida-based energy company will invest $450 million in a 480-megawatt plant in Kings Mountain where it will employ 30 with annual salaries ranging from $60,000 to $70,000. NTE Energy will produce natural-gas driven electricity with a new, clean technology and will sell its power to electric cooperatives and utilities. 

ACC football championship to stay in Charlotte for six more years

February 25, 2014

(The Charlotte Observer)

The ACC announced that Charlotte will host its championship football game through 2019. The game has been played at Bank of America stadium for the past four years, with an average attendance of about 70,000. 

Bonus checks for banking executives higher than last year

February 25, 2014

(The Charlotte Observer)

Annual bonuses in the financial industry are up 5% to 10% over last year, yet they are still below the levels they reached before the financial crisis.