Charlotte

Emeril Lagasse closing Charlotte restaurant

February 26, 2015

(The Charlotte Observer)

E2 Emeril's Eatery in downtown Charlotte will close April 26 due to slow business. "The restaurant was never able to achieve the volume projected when we came to Charlotte," E2 tweeted. Celebrity chef Emeril Lagasse opened the restaurant in 2012.

Allegiant adding third Florida route out of Concord

February 25, 2015

(The Independent Tribune, Concord)

Allegiant Air will add twice-weekly, nonstop service from Concord to Fort Lauderdale, Fla., beginning May 8. It's the low-cost carrier's third Florida destination from Concord Regional Airport; Allegiant already has flights to the Orlando and Tampa Bay areas. 

Charlotte's Polypore sold to Japanese chemical company

February 24, 2015

(The Charlotte Observer)

Charlotte-based Polypore will be sold to a Japanese chemical company in a deal valued at $3.2 billion. Asahi Kasei will pay $60.50 per share in cash for the parent company of Celgard, which makes battery components and has plants in Charlotte and Concord.

Nine federal charges filed against Duke Energy

February 23, 2015

(The Charlotte Observer)

Federal prosecutors on Friday filed nine misdemeanor charges against Duke Energy for coal-ash pollution at the utility's power plants in Asheville, Charlotte, Eden, Goldsboro and Moncure. In an earnings report released earlier in the week, Charlotte-based Duke said it had agreed to pay $102 million to settle the cases.
Related: Federal probe appears to blame Duke Energy, not NC DENR

LGBT ordinance defeated in Charlotte

March 3, 2015

(The Charlotte Observer)

The Charlotte City Council voted 6-5 against a proposal that would have extended nondiscrimination protections to include sexual orientation and gender identity. Prior to the vote, the council removed a controversial section of the ordinance that would have allowed transgender people to use the bathroom of the the gender they identify with.

Uptown Charlotte looks to attract more shoppers, retailers

February 23, 2015

(The Charlotte Observer)

Uptown Charlotte, which is projected to have more than 15,000 residents by year-end, has plenty of restaurants and bars but a scarcity of retail shops. Chris Hemans, director of retail for Charlotte Center City Partners, says adding better signage for parking and encouraging existing retailers to stay open on the weekends will help lure more shoppers uptown.

CaroMont Health extends lease agreement with Gaston

February 23, 2015

(The Gaston Gazette)

CaroMont Health will extend its lease agreement with Gaston County for 40 years and plans to invest $200 million in improvements at the 435-bed hospital. The health system will continue to rent the property for $1 a year, but will make a one-time payment of $20 million to the county in March.

Belk closing Pineville distribution center, moving jobs to SC

February 20, 2015

(The Charlotte Observer)

Charlotte-based retailer Belk will lay off 111 workers at a Pineville distribution center as it expands in Jonesville, S.C. Affected employees were offered jobs at the Jonesville center, about 75 miles southwest of Charlotte. The privately owned department-store chain operates 300 stores in 16 states.

Charlotte considers incentives for Frito-Lay expansion

February 20, 2015

(The Charlotte Observer)

Charlotte City Council will consider incentives for Frito-Lay to expand its local plant. The snack-maker would invest $74 million in its 38-year-old factory in southwest Charlotte, adding 30 to 35 jobs to its 563 by 2018. 

Charlotte gets seasonal flight to Albuquerque

February 19, 2015

(The Charlotte Observer)

American Airlines will add a seasonal nonstop flight from Charlotte to Albuquerque, N.M., beginning June 5. It's Charlotte's first nonstop flight to New Mexico's largest city.

Duke Energy to pay $100M penalty in coal-ash probe

February 18, 2015

(The Charlotte Observer)

Charlotte-based Duke Energy said it will pay about $100 million to resolve a federal investigation of its coal-ash management. The investigation began about a year ago, following the Feb. 2, 2014 spill that dumped up to 39 million tons of coal ash into the Dan River ("Heart of Coal," April 2014).

Concord's Alevo inks deal with wholesale energy supplier

February 18, 2015

(The Charlotte Observer)

Alevo Group signed an agreement with Philadelphia-based Customized Energy Solutions to supply 200 megawatts of its GridBank energy-storage units. Alevo opened a manufacturing site in October at the former Philip Morris plant in Concord and plans to hire up to 2,500 workers within three years (Statewide, December).

BofA's Moynihan earns less in 2014

February 18, 2015

(The Charlotte Observer)

Bank of America CEO Brian Moynihan's compensation fell to $13 million in 2014, $1 million less than the previous year. Moynihan's base salary remained the same, while his stock bonus fell to $11.5 million from $12.5 million in 2013. Annual profit for the Charlotte-based bank fell by 58%.
Related: "After the Fall," January

Charlotte airport hiring manager to boost development

February 16, 2015

(The Charlotte Observer)

Charlotte Douglas International Airport plans to hire a new economic affairs manager to help it recruit companies – specifically industrial, warehouse and logistics businesses – that want to locate at or near the airport.  

NC Research Campus adding 3rd spec laboratory

February 13, 2015

(The Independent Tribune, Concord)

The North Carolina Research Campus in Kannapolis will invest $1.5 million on construction of a third speculative laboratory suite. Construction will begin this spring on the space, which will total at least 4,800 square feet and can accommodate several companies.

Speedway Motorsports realigns top execs

February 13, 2015

(The Independent Tribune, Concord)

Bruton Smith will step down as CEO of Speedway Motorsports and Marcus Smith, his son, will assume the role. Bruton Smith, CEO and chairman since the Concord-based company's initial public offering in 1995, will become executive chairman. Marcus Smith has served as president and chief operating officer since 2008.

U.S. Attorney Anne Tompkins stepping down

February 24, 2015

(The Charlotte Observer)

U.S. Attorney Anne Tompkins will leave office in two weeks. Tompkins, 52, has been the top federal prosecutor for the Western District of North Carolina since 2010 and directed the corruption investigation of former Charlotte Mayor Patrick Cannon. First Assistant U.S. Attorney Jill Rose will serve as acting attorney until a replacement is named.

BofA lays off 250 in Charlotte

February 12, 2015

(The Charlotte Observer)

Bank of America will lay off 250 mortgage and technology workers in Charlotte. Most of the affected employees work in uptown's Gateway Village. The Charlotte-based bank announced last week it was laying off 202 people in its Legacy Assets Servicing unit, which services troubled loans, in Norfolk, Va.

Crescent unveils plans for uptown Charlotte development

February 12, 2015

(The Charlotte Observer)

Crescent Communities plans to begin construction of a mixed-use project in uptown Charlotte in the fourth quarter. The development will include up to 400 hotel rooms, 450 apartments and a 47,000-square-foot Whole Foods grocery store with a rooftop deck. Construction is expected to be complete by late 2017.

Report: BofA used government-backed funds to finance trades

February 12, 2015

(The Charlotte Observer)

The Wall Street Journal reported that Bank of America used funds from its government-backed U.S. banking subsidiary to finance billions of dollars in controversial transactions that helped hedge funds and others avoid taxes. A bank spokesman says the practice, which dates back to 2011, has ended.