Charlotte

Charlotte apartment rates fluctuate based on supply and demand

April 28, 2014

(The Charlotte Observer)

Investment companies who run many of Charlotte's large apartment complexes set rental rates using dynamic pricing, a pricing model similar to that used by hotels that tracks supply and demand, which means prices can vary dramatically from day to day. 

Medical-supplies company moving distribution center to Rock Hill, SC

April 28, 2014

(The Charlotte Observer)

McKesson Medical-Surgical Inc. will move operations from Charlotte and Raleigh to a new, $27.5 million distribution center in Rock Hill, S.C. The company, which distributes medical and surgical supplies, will employ up to 140, including 87 new jobs, at the new 300,000-square-foot space and is expected to open in the first half of 2015.

Former Bank of America CFO reaches $7.5 million settlement

April 25, 2014

(The Charlotte Observer)

Joe Price agreed to a $7.5 million settlement related to Bank of America's $50 billion acquisition of Merrill Lynch in 2009. Last month, the Charlotte-based bank and former CEO Ken Lewis reached a $25 million settlement with the New York attorney general's office over claims they misled investors about growing losses at Merrill Lynch prior to the acquisition.

American Airlines earned $480 million in record first quarter

April 25, 2014

(The Charlotte Observer)

Fort Worth, Texas-based American Airlines posted record first-quarter earnings of $480 million after its December merger with US Airways. A year ago, American and US Airways lost $297 million during the same quarter. The airline sold takeoff and landing slots at Reagan National Airport in Washington to settle an antitrust lawsuit related to the merger, which helped boost profits.

Charlotte's Park Sterling reports 11% increase in quarterly income

April 25, 2014

(The Charlotte Observer)

Park Sterling Corp. reported first quarter net income of almost $3.6 million, up 11% over the same period a year ago. Profit was down slightly due to expenses related to the Charlotte-based bank's entry into the Richmond, Va. market and hiring growth in Charlotte.

Harris Teeter lowers prices after Kroger acquisition

April 24, 2014

(The Charlotte Observer)

Harris Teeter reduced prices on items in its grocery, perishable and organic foods departments at some stores as a result of its recent acquisition by Cincinnati-based Kroger Co. Harris Teeter, which has corporate offices in Matthews, was bought by Kroger for $2.5 billion in January.

Ousted CertusBank executives sue over dismissals

April 24, 2014

(The Charlotte Observer)

Three co-founders of Greenville, S.C.-based CertusBank who were fired over investors' claims of improper spending have filed a lawsuit protesting their dismissal. 

Coal-ash removal could cost $10 billion

April 23, 2014

(The News & Observer, Raleigh)

According to a Duke Energy official, moving coal ash from 14 sites across the state to landfills could cost as much as $10 billion. A cheaper option that would involve excavating at least four of the sites and covering the others with tarpaulins would cost between $2 billion and $2.5 billion. 

Developer planning 20-acre mixed-use project in east Charlotte

April 23, 2014

(The Charlotte Observer)

Goode Properties will develop a 20-acre site near the intersection of Idlewild and Monroe roads in east Charlotte in a mixed-use project that will include 260 apartments and 100,000 square feet of retail, restaurants and offices.

Charlotte airfares increased slightly, still above national average

April 23, 2014

(The Charlotte Observer)

Airfares were up 0.5% in the fourth quarter at Charlotte Douglas International Airport compared with the same period a year ago. The average price for a round-trip domestic ticket at the airport was $405.50 while the national average was $381.

Dixon Hughes Goodman names Snow chief executive

April 23, 2014

(The Charlotte Observer)

Charlotte-based Dixon Hughes Goodman named Matt Snow CEO. Snow joined the firm seven years ago and was previously managing partner for the Charlotte region at the accounting and advisory firm.

AT&T adds Charlotte, Greensboro to list of candidates for faster Internet service

April 22, 2014

(The Charlotte Observer)

AT&T has added Greensboro, Charlotte, Gastonia and Huntersville to the growing list of metropolitan areas where it hopes to bring Internet service that is up to 100 times faster than standard service. The company announced earlier this month plans to bring its new fiber network to the Triangle and Winston-Salem areas.

Study reveals Duke's campaign contributions to McCrory

April 22, 2014

(The News & Observer, Raleigh)

A study by Montana-based National Institute on Money in State Politics shows Gov. Pat McCrory received $98,000 in campaign contributions from former employer Duke Energy from 2000-2012, including $16,000 from the utility's PAC and $82,000 from executives.

Recent college grads bolster Charlotte apartment construction

April 21, 2014

(The Charlotte Observer)

Apartments.com ranked Charlotte the No. 2 city for recent college graduates, behind Denver, Colo. The list was based on factors including affordability, median income and unemployment rates. Developers say millenials who aren't ready to buy houses are flocking to the city, fueling the surge in apartment construction.

Wells Fargo cuts more mortgage workers in Charlotte region

April 21, 2014

(The Charlotte Observer)

Wells Fargo laid off 33 workers in Fort Mill, S.C. as part of 323 nationwide job cuts in its mortage division. The San Francisco-based bank, which has laid off hundreds of Charlotte-area mortgage workers during the past year, reported last week that refinance applications had fallen to 39% of its total mortgage applications, down from 65% a year ago.

GOP legislators blindsided by announcement of McCrory's coal-ash plan

April 21, 2014

(The News & Record, Greensboro)

State Sen. Tom Apodaca said GOP legislators were not given advance notice of Gov. Pat McCrory's plan for dealing with Duke Energy's coal-ash problems. Two weeks ago, Apodaca was assigned to work with House Republicans in crafting legislation to deal with coal-ash issues, but that group was not consulted when McCrory announced his new proposal last week. 

Mecklenburg, surrounding counties to expand early voting despite new voter law

April 21, 2014

(The Charlotte Observer)

While 38 N.C. counties will reduce the number of early voting hours in this year's primary election, Mecklenburg County will increase the number of hours in which to vote early from 121 in 2010 to 788. Cabarrus, Gaston, Iredell and Union counties also will expand early voting hours.

Duke has spent $15 million on ash cleanup

April 18, 2014

(The Charlotte Observer)

As of March 31, Duke Energy has spent $15 million to clean up the Feb. 2 coal-ash spill near the Dan River plant in Eden. The Charlotte-based company has said it will pay for all costs associated with the spill, but if it is required to close its 33 ash ponds across the state, costs for those projects will be passed along to customers.

Bowles named CFO of Movement Mortgage

April 18, 2014

(The Charlotte Observer) 

Laura Bowles has been named chief financial officer of Virginia Beach, Va.-based Movement Mortgage, the company founded by former Carolina Panther Casey Crawford. Bowles is the daughter-in-law of former UNC system president Erskine Bowles. About 250 of Movement Mortgage's 1,200 employees are in Charlotte.

Charlotte one of four cities to bid on hosting ACC baseball tournament

April 17, 2014

(The Charlotte Observer)

Charlotte joins Durham, Greensboro and Winston-Salem in submitting a bid to host the ACC baseball tournament beginning in 2015. This year's tournament will be held May 20-25 at Greensboro's NewBridge Bank Park. League officials could decide by mid-May which city will host the next four tournaments.