Charlotte

7-Eleven waiving franchise fees for Charlotte stores

March 10, 2015

(The Charlotte Observer)

Dallas-based convenience-store chain 7-Eleven will waive upfront franchise fees for 13 stores in the Charlotte area in an effort to expand its local footprint and convert more company-owned stores to franchise stores. The average franchise fee for a store in the Carolinas is $139,828, according to a company spokeswoman.

NC's Grier, Hari make Time's list of influential Web stars

March 10, 2015

(The Charlotte Observer)

Charlotte food blogger Vani Hari (aka Food Babe) and 17-year-old Vine user Nash Grier, who attended Davidson Day School but now lives in California, both landed on Time magazine's list of the 30 most influential people on the Internet.

BofA's Finucane says bank is a simpler, better company since financial crisis

March 10, 2015

(The Charlotte Observer)

Bank of America's global chief strategy officer Anne Finucane said in a Bloomberg interview that the Charlotte-based bank "is a better bank" and is much more transparent than it was before the financial crisis. 

Growth picking up at NC Research Campus

March 9, 2015

(The Salisbury Post)

David Murdock's $15 million annual contribution, announced last year, will allow his namesake research institute in Kannapolis to expand the scope of its work. North Carolina A&T University and Duke University are expanding their laboratory space at the research campus, which was announced in 2005 and has grown slower than expected, in part due to the economic recession that began in December 2007.

Duke Energy's Carter joins Bank of America

March 9, 2015

(The Charlotte Observer)

Bank of America named Brett Carter chief operating officer for its Global Technology and Operations unit, which is headed by Charlotte-based Cathy Bessant. Carter was senior vice president of Duke Energy Carolinas and was chairman of the Charlotte Chamber in 2013.

South Carolina a finalist for Volvo plant

March 6, 2015

(The Charlotte Observer)

South Carolina is a finalist for a Volvo auto plant, four state legislators told The State newspaper in Columbia. The plant would likely be located in the Charleston area, which also expects Daimler to announce this week plans for an expansion of its van-assembly plant that will add 1,000 jobs. London-based The Financial Times reported earlier this year that North Carolina and Kentucky were also pursuing the Swedish automaker's plant.

Judge denies Widen I77's injunction to stop toll lanes

March 6, 2015

(The Charlotte Observer)

A judge denied a citizens group's motion for a preliminary injunction that would have stopped a toll-lane project on Interstate 77 from Charlotte to Mooresville. Widen I77 said they are still seeking a permanent injunction against the project, which will add two toll lanes in each direction from the Brookshire Freeway in Charlotte to Exit 28 in Cornelius and one toll lane in each direction from Cornelius to Mooresville.

NY appeals court approves Bank of America's $8.5B mortgage settlement

March 6, 2015

(The Charlotte Observer)

A New York appeals court upheld Bank of America's $8.5 billion settlement with institutional investors over faulty mortgages. The mortgage securities were issued between 2004 and 2008 by Countrywide Financial, which BofA acquired in 2008.

Kroger execs say Harris Teeter helped boost results

March 6, 2015

(The Charlotte Observer)

Cincinnati-based Kroger said its acquisition of Harris Teeter Supermarkets helped the grocery-store chain reduce debt and boost earnings. Kroger reported earnings of $518 million in its fourth quarter that ended Jan. 31, a 23% increase from the same period a year ago.

Tesla to open second NC dealership in Matthews

March 5, 2015

(The Charlotte Observer)

Palo Alto, Calif.-based Tesla Motors plans to open its second North Carolina dealership. The electric-car manufacturer will open a dealership and service center in Matthews later this month. Tesla already has a location in Raleigh.

Piedmont Natural Gas sets record in February

March 5, 2015

(The Charlotte Observer)

Charlotte-based Piedmont Natural Gas delivered a record volume of gas in the month of February and set a single-day record on Feb. 19. The company has more than one million customers in the Carolinas and Tennessee.

Former Charlotte Knights stadium demolished

March 5, 2015

(The Charlotte Observer)

Demolition crews began razing the former Charlotte Knights baseball stadium in York County, S.C. Charlotte-based retailer Cato bought the land and has said it plans to build a distribution center there. Attendance has soared since the Knights moved to a new stadium in uptown Charlotte last summer.

Charlotte's Frontier Capital raises $390M

March 4, 2015

(The Charlotte Observer)

Charlotte-based Frontier Capital has raised $390 million in its fourth fund, exceeding its initial goal of $300 million. The private-equity firm invests in fast-growing software and business-services companies with annual revenues between $5 million and $30 million. 

Furniture company leaves Charlotte for Fort Mill, SC

March 4, 2015

(The Charlotte Observer)

Broad River Furniture, which operates 16 Ashley Furniture stores and one outlet store, will move its headquarters and distribution center from Charlotte to Fort Mill, S.C., where it will employ 200 people. The retailer will invest $12.6 million in its new 174,000-square-foot campus, which is expected to be open by November.

Family Dollar CEO sells more shares

March 4, 2015

(The Charlotte Observer)

Family Dollar Stores CEO Howard Levine plans to sell one to two million shares of the company's stock over the next five days, according to a securities filing. Levine sold almost 1.8 million shares last month for about $135 million. Chesapeake, Va.-based Dollar Tree is awaiting FTC approval to complete its $8.5 billion acquisition of the Matthews-based retailer.

Belk Endowment gives $9.6M to community college programs

March 4, 2015

(The Charlotte Observer)

The John M. Belk Endowment will give $7.75 million to the Single Stop program, which provides resources for students to complete community college. The endowment also plans to give financial awards to eight other organizations that support community colleges. 

Quicken overtakes BofA on list of top mortgage lenders

March 3, 2015

(The Charlotte Observer)

Bank of America slipped a spot to fourth place on a ranking of lenders with top mortgage market share. San Francisco-based Wells Fargo is still the nation's largest mortgage lender, followed by JPMorgan Chase and Detroit-based Quicken Loans. 

Negotiations fail between Carolinas HealthCare System and insurer

March 2, 2015

(The Charlotte Observer)

A contract between Carolinas HealthCare System and UnitedHealthcare expired Saturday, which means tens of thousands of United customers are now considered out-of-network for CHS providers. The change affects one of Charlotte's largest employers –Duke Energy uses UnitedHealthcare. Charlotte-based CHS said it will extend temporary in-network pricing to some United customers.

Development ramping up along I-77 south of Charlotte

March 2, 2015

(The Charlotte Observer)

Through large business-incentive packages, the Palmetto State is luring companies to the Fort Mill and Rock Hill areas, just south of Charlotte along I-77. LPL Financial broke ground Thursday on its new Fort Mill, S.C., headquarters, where it will eventually employ up to 3,000 workers. LPL plans to move about 1,000 workers from Charlotte to the new 450,000-square-foot campus. 

Gaston country club tries out 'escape to the office' concept

March 2, 2015

(The Gaston Gazette, Gastonia)

The renovated clubhouse at Cramer Mountain Club will feature 17 executive office suites with golf-course views. The private club closed and entered bankruptcy in 2012. Residents successfully launched a campaign to reform the club, but the massive 35,000-square-foot clubhouse posed a challenge for developer Eric Vargosko. Five of the suites, which range from 630 to 6,000 square feet, have already sold.