Charlotte

Salisbury manufacturer files for bankruptcy protection

February 18, 2016

(The Salisbury Post)

The parent company of Norandal USA has filed for Chapter 11 bankruptcy protection. The company said demand is still high for its flat-rolled products division that produces aluminum foil and sheeting, including at its Salisbury plant. Norandal employs 150 to 200 workers in Salisbury.

Crescent Communities adds homebuilding arm

February 17, 2016

(The Charlotte Observer)

Charlotte developer Crescent Communities is launching Fielding Homes, a new division that will build single-family homes. The company will build 64 homes in a Fort Mill, S.C., subdivision.

Mooresville's Blueharbor Bank expands to Charlotte

February 17, 2016

(The Charlotte Observer)

Blueharbor Bank, an 8-year-old community bank based in Mooresville, has opened a loan-production office in Charlotte's SouthPark neighborhood. CEO Jim Marshall said the bank could open a full-service branch there in a year or two.

Mecklenburg OKs incentives for Red Ventures expansion

February 17, 2016

(The Charlotte Observer)

Local governments will give Red Ventures $270,000 to expand in Charlotte, adding 500 jobs. That's in addition to $2.65 million the Indian Land, S.C.-based sales and marketing firm could receive from the state. The new jobs will pay an average of $48,000 a year.

Daimler to lay off 1,250 workers in Gaston, Rowan counties

February 16, 2016

(The Charlotte Observer)

The truck manufacturer said the cuts, expected to be temporary, are the result of a reduction in orders. Daimler will lay off about 700 employees at its Mount Holly plant in Gaston County and about 550 at its Cleveland plant in Rowan County, where the company already slashed 900 jobs earlier this year.

Top BofA execs get bigger stock awards

February 16, 2016

(The Charlotte Observer)

The Charlotte-based bank awarded more shares to its top executives compared with the previous year, according to regulatory filings. BofA's stock price is down about 29%, as investors are worried about declining oil prices and global economic conditions.

Opposition grows over proposed Asheville power plant

February 16, 2016

(The Charlotte Observer)

Opponents of Duke Energy's plans to build two natural-gas power plants in the Asheville region will have to submit written critiques; a quick 45-day approval process requested by legislators leaves no time for customary hearings.

BofA's Moynihan earned $16M in 2015

February 15, 2016

(The Charlotte Observer)

Bank of America CEO Brian Moynihan's total compensation last year included a base salary of $1.5 million — unchanged from 2014 —  and $14.5 million in stock. Moynihan's total pay is higher than the $13 million he earned the year before and is the most he's been paid since becoming CEO in 2010.

Utah furniture company to open distribution center in Spencer

February 15, 2016

(The Salisbury Post)

Intercon Furniture plans to open a 100,000-square-foot warehouse and distribution center in Rowan County. The Utah-based, family-owned company plans to initially hire 15 people.

Charlotte's Packard Place partners with HQ Raleigh

February 15, 2016

(The Charlotte Observer)

The co-working segment of Packard Place, a startup hub in downtown Charlotte, will be rebranded as HQ Charlotte, joining the network that includes HQ Raleigh and HQ Greensboro. Members, who pay a monthly fee for access to a shared workspace, will be able to work at any of the locations under the HQ umbrella.

New call center will create 350 jobs in Charlotte

February 12, 2016

(The Charlotte Observer)

Republic Services will invest $6.8 million in a customer-service center in Charlotte.The Phoenix-based company provides recycling and waste-collection services in 39 states. Republic plans to hire 350 people over the next three years.

BofA stock slides; shares now trading at 2012 levels

February 12, 2016

(The Charlotte Observer)

Shares of Charlotte-based Bank of America were trading at $10.99 Thursday, the lowest since December 2012. Shares closed Thursday at $11.16. Analysts said uncertainty about future interest rate increases are affecting BofA's stock performance, along with declining oil prices and concerns over the global economy.

Charlotte-based manufacturer moving HQ to Phoenix

February 12, 2016

(The Charlotte Observer)

The Carlisle Cos. said it will move its headquarters from Charlotte to Phoenix by the end of 2016. The diversified manufacturer employs about 80 people in its Charlotte office.

Texas hospital exec tapped as new Carolinas HealthCare CEO

February 11, 2016

(The Charlotte Observer)

Charlotte-based Carolinas HealthCare System named Eugene Woods its new chief executive officer. Woods, 51, is president and chief operating officer of Christus Health, an Irving, Texas-based group comprising more than 50 hospitals, and he is chairman-elect of the American Hospital Association. Longtime Carolinas HealthCare CEO Michael Tarwater will retire in June.

CLT breaks passenger record in 2015

February 11, 2016

(The Charlotte Observer)

Charlotte Douglas International Airport saw 44.9 million passengers in 2015, up 1% from the previous year and up 59% from 10 years ago. About 80% of passengers use the airport for connecting flights.

NC fines Duke Energy $6.6M over coal-ash spill

February 10, 2016

(The News & Observer, Raleigh)

Two years after a stormwater pipe ruptured and 39,000 tons of coal ash flowed into the Dan River, the N.C. Department of Environmental Quality fined Duke Energy $6.6 million for violations related to the spill.

Advertisers won't snub 'sore loser' Newton

February 10, 2016

(The Charlotte Observer)

Cam Newton's sulking press-conference performance after the Super Bowl isn't likely to affect future endorsements, marketing experts say. Forbes estimated Newton earned $10 million in 2015 from endorsements including Under Armour, Beats by Dre and Belk. "I've been on the record to say I'm a sore loser," Newton said Tuesday.

Carolinas HealthCare could name Tarwater's replacement Thursday

February 10, 2016

(The Charlotte Observer)

Carolinas HealthCare System could name its new CEO at a special board meeting Thursday morning. Michael Tarwater, who has led the Charlotte-based hospital system since 2002, is retiring in June.
Related: Carolinas HealthCare CEO was paid $6.6 million

Tyson Foods adding 56 jobs in Monroe

February 10, 2016

(The Charlotte Observer)

Springdale, Ark.-based Tyson Foods will proceed with a $5 million expansion at its chicken processing plant in Monroe. The expansion will add 56 jobs; the company currently employs about 1,500 people at the plant. The city of Monroe and Union County are offering about $225,000 in incentives.

Aquesta preps to open first Wilmington branch

February 9, 2016

(The Charlotte Observer)

Cornelius-based Aquesta Bank received regulatory approval to open its first branch outside the Charlotte metro area. The new Wilmington branch will allow it to build on its presence there; Aquesta opened an insurance-services office there more than eight years ago. Aquesta has seven branches and had $293 million in assets at the end of 2015.