Charlotte

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.

McCrory announces oversight plan for Duke Energy's ash ponds

April 17, 2014

(The News & Observer, Raleigh)

Gov. Pat McCrory plans to ask state legislators for broader authority over the handling of coal-ash at Duke Energy's 33 ash ponds in North Carolina. McCrory, a former Duke Energy employee, wants site-specific plans that would remove ash from some ponds while leaving others drained and capped and would require more frequent inspections. 

Bank of America reports first quarter loss

April 16, 2014

(The Charlotte Observer)

Bank of America reported a first-quarter loss of $276 million compared with a profit of $1.5 billion for the same period a year ago. CEO Brian Moynihan said the costs of resolving mortgage-related issues, including last month's $9.5 billion settlement with the Federal Housing Authority, hurt the Charlotte-based bank's earnings.

Lowe's CEO pay grew 50% in 2013

April 15, 2014

(The Charlotte Observer)

Robert Niblock's total compensation for 2013 was $18.7 million, more than 50% higher than his 2012 earnings. The chief executive of Mooresville-based Lowe's received a stock grant that was 83% bigger than in 2012 and his bonus nearly doubled.

Investors urge shareholders to vote out four Duke Energy directors

April 15, 2014

(The Charlotte Observer)

In light of Duke Energy's problems with coal-ash contamination, two major investors are urging shareholders not to re-elect four directors that serve on a committee that oversees the utility's environmental, safety and health compliance.

 

TIAA-CREF buys Nuveen Investments for $6.25 billion

April 15, 2014

(The Charlotte Observer)

New York-based TIAA-CREF will buy Chicago-based Nuveen Investments for $6.25 billion to expand its product offerings. It is unknown whether the deal will affect employment at the retirement-services provider's Charlotte campus, its largest corporate office with about 3,100 employees.

Park Sterling CEO earns 32% more in 2013

April 15, 2014

(The Charlotte Observer)

The chief executive of Charlotte-based Park Sterling Bank earned about 32% more in 2013 than the year before. Jim Cherry's total compensation for the year was $750,846, a sum which included a $200,000 cash bonus. 

Charlotte will pay $1.3 million for PCB cleanup

April 15, 2014

(The Charlotte Observer)

Charlotte City Council approved $1.3 million for testing and decontamination of PCBs found in the city's sewer system in February. The toxic chemicals were first linked to a grocery store grease trap and have been detected at two water treatment plants. 

Mitchell drops out of congressional race for Watt's seat

April 15, 2014

(The Charlotte Observer)

Citing an inability to raise enough money and a crowded ticket, former Charlotte City Council member James Mitchell has dropped out of the 12th Congressional District race. He was one of six Democrats vying for the seat previously held by Mel Watt. 

Massive Philip Morris plant in Concord sold

April 14, 2014

(The Charlotte Observer)

The former Philip Morris cigarette plant in Concord has been sold to a company that plans a project involving clean energy. The 3.5-million-square-foot plant on 2,100 acres has been vacant since 2009. A spokesman for Victory Industrial Park LLC says more details will be released about the project in a few months.

Regions Bank promotes Katon, plans more hiring in Charlotte

April 14, 2014

(The Charlotte Observer)

Birmingham, Ala.-based Regions Bank selected Terry Katon to lead its capital markets business at its Charlotte office, which opened late last year. Katon joined the midsized bank, which has offices in 16 states and $117 billion in assets, from Bank of America in 2009.  

Taxi company with exclusive airport contract gave money to Cannon's campaign

April 14, 2014

(The Charlotte Observer)

A cab company that was one of only three allowed to operate at Charlotte Douglas International Airport gave $28,000 to Patrick Cannon's mayoral campaign, 10% of his overall fundraising total.

Family Dollar to close 370 stores amid falling sales, profits

April 11, 2014

(The Charlotte Observer)

Matthews-based Family Dollar Stores will close 370 stores, about 5% of its 8,100, after sales and profits fell in its second quarter. The discount retailer reported profits for the quarter ending March 1 were $91 million, down 35% compared with the same quarter a year ago, while sales fell 6% to $2.7 billion.

Charlotte Knights hold first game at new uptown ballpark tonight

April 11, 2014

(The Charlotte Observer)

The Charlotte Knights will hold their home opener at the new, 10,200-seat BB&T Ballpark in uptown Charlotte tonight. A festival begins at noon in adjacent Romare Bearden Park with a team introduction, autograph session, music and more.

Charlotte law firm starts group for alcohol industry

April 11, 2014

(The Charlotte Observer)

Horack Talley law firm has created a new group to help those in the beer, wine and spirits industry with permits, licensing, real estate and other concerns. The group will assist alcohol-makers navigate rules and regulations from the local to the federal level.  

US Chamber of Commerce to support Tillis in Senate race

April 11, 2014

(The News & Record, Greensboro)

The U.S. Chamber of Commerce will endorse N.C. House Speaker Thom Tillis in the Republican primary for the U.S. Senate seat currently held by Dem. Sen. Kay Hagan. The group joins anti-abortion group National Right to LIfe, which said earlier this week it is also backing Tillis.

Bank of America to pay $783 million in settlement over credit card add-ons

April 10, 2014

(The Charlotte Observer)

Bank of America will pay $738 million to credit-card customers who were misled about credit protection and identity-theft protection programs and $45 million in penalties in a settlement with the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency.

Related: The Charlotte-based bank will cut 3,000 overseas jobs that provided back-office services, customer support and information-technology services. Some of the work may move to offices in Charlotte.

Small group of doctors get large share of Medicare payments

April 10, 2014

(The Charlotte Observer)

A New York Times analysis of 2012 Medicare data shows that about 2% of doctors received about $15 billion of the $77 billion total government payout. Fifteen Mecklenburg County doctors received more than $1 million in payments. 

Auto-parts maker adding 228 jobs at Catawba County plant

April 9, 2014

(The Charlotte Observer)

GKN Driveline will invest $113 million and create 228 new jobs over four years at its plant in Catawba County. The auto-parts manufacturer makes all-wheel drive systems, transmissions and other components for automakers including BMW, Chrysler, Ford and General Motors.