Charlotte

Shelby residents oppose local solar projects

October 8, 2014

(The Shelby Star)

Solar is booming in North Carolina, but many Cleveland County residents still have a "not in my backyard" mentality toward the projects. City and county officials rejected two proposed solar projects last month after property owners voiced concern about appearance and potential effects on property values.

Three Family Dollar execs get retention awards

October 8, 2014

(The Charlotte Observer)

Matthews-based Family Dollar Stores said it will give three top executives retention awards to stay with the company through December 2015. CFO Mary Winston, executive vice president for store operations Barry Sullivan and general counsel James Snyder will receive awards totaling $550,000.

BofA still largest bank by deposits

October 7, 2014

(The Charlotte Observer)

Bank of America is still No. 1 for deposits among federally insured banks. The Charlotte-based bank's deposits totaled $1.17 trillion as of June 30, according to data released by the FDIC. New York-based JPMorgan Chase took the second-place spot, unseating San Francisco-based Wells Fargo.

'60 Minutes' to feature Duke Energy in coal-ash report

October 7, 2014

(The Charlotte Observer)

CBS news program "60 Minutes" will feature Duke Energy CEO Lynn Good in an upcoming report about coal ash. Good said in a message to company employees that the Charlotte-based utility felt it was important that the show "hear our perspective about coal-ash management practices."

Chiquita gets EU approval for Fyffes merger

October 6, 2014

(The Charlotte Observer)

Chiquita Brands International received regulatory clearance from the European Union for its pending merger with Irish produce company Fyffes. The Charlotte-based company's shareholders are scheduled to vote on the deal Oct. 24. Brazilian companies Cutrale and Safra Group have made an unsolicited bid to buy the company and break up the merger.

Readmission rates lead to reduced Medicare reimbursements at some Charlotte hospitals

October 6, 2014

(The Charlotte Observer)

Some Charlotte area hospitals will be penalized for readmitting too many patients within 30 days of their last hospital stay. Now in its its third year, a federal program reduces Medicare payments to hospitals with higher-than-expected readmission rates for heart failure, heart attack, pneumonia, chronic lung problems and elective hip and knee replacements. No Charlotte hospitals received the maximum penalty.

14-story office tower coming to Charlotte's South Tryon

October 3, 2014

(The Charlotte Observer)

Trinity Capital announced plans to build a 14-story office tower at Morehead and South Tryon streets in Charlotte. Construction will begin on the project, which will include 300,000 square feet of office space and ground-level retail, once an anchor tenant is signed.

Mulch supplier to open Mooresville office, create 33 jobs

October 3, 2014

(The Charlotte Observer)

Harvest Garden Pro will open a division headquarters in Mooresville, creating 33 jobs with an average annual salary likely to exceed $70,000. The company, a division of Waltham, Mass.-based Harvest Power Inc., sells mulch and soil to garden centers and home-improvement retailers including Mooresville-based Lowe's.

CBS trades seven Charlotte radio stations

October 3, 2014

(The Charlotte Observer)

CBS Radio will trade seven Charlotte radio stations to Naples, Fla.-based Beasley Broadcast Group in exchange for stations in Philadelphia and Miami. The Charlotte stations account for 32% of listeners in the local market according to Nielsen's September rankings.

Charlotte-based Carlisle Cos. acquires Singapore company for $195M

October 3, 2014

(The Charlotte Observer)

Carlisle Cos. paid $195 million for LHi Technology, a Singapore-based company that makes components for medical devices. The Charlotte-based manufacturer employs about 8,200 people worldwide, including about 80 in Charlotte.

Moynihan elected chairman of Bank of America

October 2, 2014

(The Charlotte Observer)

CEO Brian Moynihan was named chairman of Bank of America's board, effective immediately. The Charlotte-based bank split the two roles in 2009 when CEO Ken Lewis was removed as chairman amid pressure from shareholders following the federal government's $45 billion bailout. Moynihan replaces Charles Holliday Jr.

Lawyers' bills in Charlotte airport fight total more than $1 million

October 2, 2014

(The Charlotte Observer)

Charlotte has amassed $552,600 in legal fees in its fight to maintain control of Charlotte Douglas International Airport, while the legal tab for the 13-member commission created by the state General Assembly to run the airport is believed to be about $500,000.

Movie studio project once proposed for Charlotte may be built in SC

October 2, 2014

(The Charlotte Observer)

Studio South, the company that proposed building movie studios at the former Eastland Mall site in Charlotte, is exploring building a similar project on 70 acres in or near Rock Hill, S.C. Charlotte City Council ended talks with Studio South CEO Bert Hesse six months ago, claiming Hesse didn't provide enough detailed information on project costs and financing.

Babcock & Wilcox may split into two companies

October 2, 2014

(The Charlotte Observer)

Babcock & Wilcox said it is considering a split into two publicly traded companies that would separate its power-generation business from its government and nuclear businesses. The energy company has been based in Charlotte since it was spun off from Houston-based McDermott International in 2010.

Murdock to give $15M a year to research institute

October 1, 2014

(The Charlotte Observer)

David Murdock, 91, will donate $15 million a year to his namesake research institute at the North Carolina Research Campus in Kannapolis. The chairman of Dole Food said he plans to recruit a world-class scientist to lead the David H. Murdock Research Institute to continue the study of health benefits of diets rich in fruits and vegetables.

BofA to issue debit cards with microchips

October 1, 2014

(The Charlotte Observer)

Bank of America says it will be the first major U.S. bank to issue debit cards with embedded microchip technology. The bank will give the cards to new consumers and small-business customers, while existing customers will receive the new cards when their old debit cards expire. 

Family Dollar affirms plans for Dollar Tree deal

October 1, 2014

(The Charlotte Observer)

In an email to employees Tuesday, Family Dollar Stores said it is proceeding with plans to be acquired by Chesapeake, Va.-based Dollar Tree despite Dollar General's hostile $9.1 billion bid for the Matthews-based retailer.

Monroe airport prepares for international flights

September 30, 2014

(The Charlotte Observer)

The Charlotte-Monroe Executive Airport in Union County will become the first general aviation airport in the Carolinas to add a U.S. Customs and Border Protection service, allowing international flights to land there. The service will debut as early as mid-November.

Murdock to announce "gift in perpetuity" to research institute

September 30, 2014

(The Salisbury Post)

David Murdock, chairman and CEO of Dole Food Co., will announce an ongoing gift to the Kannapolis research institute he founded. Murdock has invested more than $800 million in the North Carolina Research Campus he established in 2005, which is home to the the David H. Murdock Research Institute and about 20 academic, technology and health-care organizations.

BofA fined $7.6 million for overstating capital ratios

September 30, 2014

(The Charlotte Observer)

Bank of America will pay a $7.65 million penalty over its miscalculation of capital ratios in a securities filing earlier this year. The Charlotte-based bank said the accounting errors stemmed from its 2009 acquisition of Merrill Lynch.