Charlotte

Charlotte lags peers in startups, venture-capital funding

November 2, 2015

(The Charlotte Observer)

A recent study shows that from 2011 to 2013, Charlotte's per capita venture-capital funding was $3 per resident, compared with $70 in Atlanta and $312 in Austin, Texas. Charlotte's lack of universities was cited as a handicap to nurturing an entrepreneurial community.

Electrolux offer 'well short' of replacing lost competition

November 2, 2015

(The Charlotte Observer)

The Justice Department rejected Electrolux's proposal to resolve an antitrust lawsuit seeking to block its proposed $3.3 billion purchase of General Electric's appliance unit. The Swedish appliance-maker employs about 900 at its North American headquarters in Charlotte.

Panthers tickets selling for a premium after 6-0 start

October 30, 2015

(The Charlotte Observer)

The Carolina Panthers' first-ever 6-0 start is driving up ticket prices on the secondary market. As of Thursday, the cheapest ticket on StubHub for the Panthers' Nov. 8 home game against the Green Bay Packers was $252. A StubHub spokesperson said it's the highest-selling Panthers game in the last five years.

Aided by federal grant, Charlotte will move Amtrak station downtown

October 30, 2015

(The Charlotte Observer)

Charlotte will move its Amtrak station from its current location about 2 miles north of downtown to the heart of the city, aided by a $25 million grant from the U.S. Department of Transportation. The city hopes the $53 million project will be converted into Gateway Station, a transit center that could include a commuter rail line, buses and a streetcar.

BofA cuts 100 jobs in Charlotte

October 29, 2015

(The Charlotte Observer)

Layoff notices went out Wednesday to about 100 mortgage and technology workers at Bank of America in Charlotte. Affected employees will be able to apply for other jobs within the bank. BofA employs about 15,000 in Charlotte.

NewDominion Bank gets $20M investment

October 29, 2015

(The Charlotte Observer)

Charlotte-based NewDominion Bank will receive investments from two institutional investors that will help it shed a regulatory order requiring it to have more capital. The lead investor is New York-based Tricadia Capital Management; Arlington, Va.-based EJF Capital is the other investor.

Charlotte awarded $25M federal grant for transit hub

October 29, 2015

(The Charlotte Observer)

The N.C. Department of Transportation landed a $25 million federal grant to help it build a new transit center in downtown Charlotte. Gateway Station would be home to Amtrak, a commuter rail line, buses and a streetcar. The total price tag of the project is estimated at $150 million to $200 million.

Red Ventures plans to double size of SC headquarters

October 29, 2015

(The Charlotte Observer)

Red Ventures plans to break ground next week on a 300,000-square-foot complex next to its existing headquarters in Indian Land, S.C., about 20 miles south of downtown Charlotte. The Internet marketing company employs more than 2,200 people in Indian Land and about 500 in Charlotte.

Snyder's-Lance to buy Diamond Foods for $1.27B

October 28, 2015

(Reuters)

Charlotte-based snack maker Snyder's-Lance will acquire Diamond Foods in a deal valued at about $1.91 billion, including debt. Last week, Kellogg was said to be in talks to acquire California-based Diamond, the whose brands include Kettle Chips and Pop Secret.

 

Wells Fargo adds another key exec in Charlotte

October 28, 2015

(The Charlotte Observer)

Neal Blinde was named corporate treasurer of Wells Fargo. Blinde, who has worked for Wells Fargo for 14 years, will be responsible for the bank's capital, liquidity, funding and Federal Reserve-administered stress tests. He will be based in Charlotte, joining other top executives David Carroll, head of the bank's wealth and investment management division, and chief auditor David Julian.

Report: Charlotte ranks third among real-estate 'Markets to Watch'

October 27, 2015

(The Charlotte Observer)

Charlotte jumped four spots from No. 7 to No. 3 in a national ranking of most attractive real-estate markets for 2016. The report, from PricewaterhouseCoopers and the Urban Land Institute, cited the Queen City's growing population and strong construction sector. Dallas/Fort Worth and Austin, Texas ranked first and second.

Duke Energy to buy Piedmont Natural Gas for $4.9B in cash

October 26, 2015

(The Charlotte Observer)

The two Charlotte-based energy companies unanimously approved an agreement for Duke Energy to pay about $4.9 billion for Piedmont Natural Gas. Piedmont shareholders will receive $60 in cash for each share of common stock. Piedmont will retain its name and operate as a business unit of Duke Energy. The companies expect the deal to close by the end of 2016.

Agility Fuel Systems opens $20M Salisbury plant

October 26, 2015

(The Salisbury Post)

Agility Fuel Systems held a grand opening of its $20 million, 204,000-square-foot East Coast headquarters in Rowan County. Production should start in about a week; the company has 77 employees and plans to hire 150 for its first shift. Santa Ana, Calif.-based Agility makes natural-gas fuel systems for trucks.

California golf company buys fifth NC course

October 26, 2015

(Hickory Daily Record)

Warrior Custom Golf, a California-based company best known for manufacturing custom clubs, has acquired Old Still Golf Club, previously known as Rivercrest Golf Club, in Hickory. Warrior owns Asheboro Country Club, two courses near Asheville and one course in Whispering Pines.

Regions acquires Charlotte's BlackArch Partners

October 23, 2015

(The Charlotte Observer)

Regions Financial has acquired BlackArch Partners, a Charlotte-based, mid-market investment bank with 50 employees, for an undisclosed amount. BlackArch was started in 2010; three of its founders are veterans of Charlotte's Bowles Hollowell Conner, which was acquired by First Union in 1998. Birmingham-based Regions has $125 million in assets and branches in 16 Southern states.

Meineke parent buys Kansas-based Carstar

October 23, 2015

(The Charlotte Observer)

Driven Brands, parent company of Meineke Care Care Centers and Maaco, will acquire Carstar, an Overland Park, Kan.-based network of more than 450 collision-repair shops. Financial terms were not disclosed. It's the Charlotte-based company's 11th acquisition since 2013.

Federal judge refuses to dismiss coal-ash suit

October 22, 2015

(The News & Observer, Raleigh)

Duke Energy had asked U.S. District Judge Loretta Biggs to dismiss or delay a lawsuit filed by environmental advocates over coal-ash contamination at its power plant near Salisbury. Biggs denied the request and criticized the state for not acting quickly enough in requiring Duke to clean up the coal ash.
Related: Duke Energy to settle Ohio lawsuit for $81 million

Wells Fargo to lay off 132 Charlotte area workers

October 22, 2015

(The Charlotte Observer)

San Francisco-based Wells Fargo said it is cutting 490 mortgage employees nationwide as foreclosure rates improve and fewer homeowners are refinancing. Five of the cuts are in Charlotte, while 127 are in Fort Mill, S.C.

Lowe's CEO gives $2.5M to UNC Charlotte business school

October 21, 2015

(The Charlotte Observer)

Robert Niblock, CEO of Mooresville-based Lowe's and a UNC Charlotte alum, will donate $2.5 million to the university's Belk College of Business, one of the school's largest gifts.

Charlotte hotels having best year ever

October 21, 2015

(The Charlotte Observer)

Despite fewer conventions, the average daily hotel rate in Mecklenburg County for 2015 is expected to be $104, while the occupancy rate is 72%, the highest level since 2007.