Charlotte

Subway to change recipe after Charlotte blogger gets 50,000 signatures

February 7, 2014

(The Charlotte Observer)

On Tuesday, a Charlotte-based food blogger started a petition on her blog to get Subway to remove a chemical from its bread recipe, and within 24 hours 50,000 people had signed it. A day later, officials from Subway contacted Vani Hari of of FoodBabe.com to let her know it will change its recipe.

Swisher reaches $5.5 million settlement agreement with shareholders

February 7, 2014

(The Charlotte Observer)

Shareholders of Swisher Hygiene have reached a preliminary settlement with the Charlotte-based company over a class-action lawsuit which claimed Swisher inflated its stock price. If a judge approves the settlement, shareholders would be eligible to receive $5.5 million. 

AIG seeks to vacate judge's ruling on BOA settlement

February 6, 2014

(The Charlotte Observer)

American International Group claims the $8.5 billion settlement Bank of America has reached with private investors is far less than what investors lost from home loans orginated by the bank's Countrywide unit. AIG has asked a federal judge not to enter a final judgement on the settlement, which was largely approved on Friday.

Two plead guilty for involvement in $850 million Ponzi scheme

February 6, 2014

(The Winston-Salem Journal)

At a U.S. District Court hearing in Charlotte on Wednesday, Dawn Olivares and her stepson Daniel Olivares pleaded guilty for their roles in the ZeekRewards.com Ponzi scheme. Both had been charged with investment fraud conspiracy pertaining to the $850 million scam which used money from new investors to pay existing ones. Dawn Olivares also pleaded guilty to tax fraud conspiracy.

Charlotte airport looks to attract development by expanding foreign trade zone

February 5, 2014

(The Charlotte Observer)

Charlotte Douglas International Airport has filed an application to declare 3,900 acres, or about two-thirds of its property, as a foreign trade zone. If approved, businesses that locate there could take advantage of lower tax rates for importing and exporting goods.

Kellogg to close Charlotte plant, lay off 195 workers

February 5, 2014

(The Charlotte Observer)

Kellogg Co. will close its Charlotte plant by the end of the year, cutting about 195 jobs. The factory produces cookies including Famous Amos and Iced Animals. The Michigan-based company also announced it will close two production lines at a plant in Cincinnati; the closures are part of a cost-cutting initiative called "Project K."

JPMorgan ready for growth in Charlotte, Carolinas

February 5, 2014

(The Charlotte Observer)

New York-based JPMorgan Chase is looking to hire bankers in treasury services and risk management as it expands its middle-market banking team in Charlotte. The bank, which just entered the market last summer, eventually plans to expand across the Carolinas.

Bank of America will hire 200 small-business bankers

February 5, 2014

(The Charlotte Observer)

Bank of America will hire more than 200 small-business bankers this year, the company announced Tuesday. The company has not determined which markets where it will add the positions; it's unknown whether any of the new jobs will be in the bank's Charlotte headquarters.

Salsarita's founder plans new Italian concept

February 5, 2014

(The Charlotte Observer)

The founder of Salsarita's Fresh Cantina is joining with Johnson & Wales chef Peter Reinhart to launch a new fast-casual Italian restaurant concept called Capishe! Bold Italian Kitchen. They are in negotiations for two Charlotte locations and expect to open the first Capishe, which will serve sandwiches, pastas and salads, later this year. 

Wells Fargo ranked most valuable bank brand in the world

February 4, 2014

(The Charlotte Observer)

According to a brand valuation consultancy, Wells Fargo is the most valuable bank brand in the world. The Brand Finance Banking 500 valued the bank's brand at more than $30 billion. Charlotte-based Bank of America was third on the list, with a brand value of more than $26 billion.

American to drop nonstop flights from Charlotte to Rio

February 4, 2014

(The Charlotte Observer)

American Airlines will discontinue daily nonstop flights from Charlotte to Rio de Janeiro beginning in early 2015. It is the first major cutback from Charlotte Douglas International Airport since American completed its merger with US Airways last year. American still plans to offer nonstop flights to Sao Paulo, Brazil, but travelers headed to Rio will have a connecting flight.

Judge approves $8.5 billion Bank of America settlement over faulty home loans

February 3, 2014

(The Charlotte Observer)

A New York state judge approved an $8.5 billion settlement between Bank of America and private investors over losses incurred from home loans originated by Countrywide Financial Corp., which the Charlotte-based bank acquired in 2008. 

Electrolux predicts continued growth in North American markets

February 3, 2014

(The Charlotte Observer)

Electrolux reported North American sales of $1.2 billion, an increase of 7.2%, led by sales of major appliances. Jack Truong, CEO of the company's North American division, said it plans to introduce 500 new products this year and anticipates appliance sales will increase by 4%. The Swedish company announced last month it is doubling the workforce at its North American headquarters in Charlotte. 

Parking rates to rise at Charlotte airport

January 31, 2014

(The Charlotte Observer)

Charlotte Douglas International Airport will increase parking rates to cover the costs of contruction, higher expenses and more modern shuttle buses. Rates for curbside valet, business valet and daily garage rates will increase by 40% to 50% beginning Feb. 17. New hourly rates will take effect in November, and long-term parking rates will increase Feb. 2015.

Carolinas HealthCare releases executive compensation figures for 2013

January 31, 2014

(The Charlotte Observer)

Carolinas HealthCare System, the country's second largest public hospital system, has released 2013 compensation figures for its top executives. Each of the company's top 10 executives earned more than $1 million in total compensation last year.

Kannapolis manufacturer cuts 11 jobs

January 31, 2014

(The Salisbury Post)

Ei Solution Works, which manufactures skin-care products at a plant in Kannapolis, laid off 11 workers earlier this month to improve productivity. An official from the company, which now employs 204, says no additional layoffs are planned.

Kroger completes acquisition of Harris Teeter

January 30, 2014

(The Charlotte Observer)

Cincinnati-based Kroger Co. has completed its $2.5 billion acquisition of Harris Teeter, the No. 1 grocer in the Charlotte region. Kroger CFO Mike Schlotman said the company won't cut jobs at its stores and distribution centers, and job losses at Harris Teeter's Matthews headquarters will be minimal.

Watchdog says BOA, JP Morgan had most homeowner complaints under TARP

January 30, 2014

(The Charlotte Observer)

A federal watchdog says Charlotte-based Bank of America and J.P. Morgan Chase received a larger volume of complaints from homeowners participating in housing programs under the federal Troubled Asset Relief Program, or TARP. The report states homeowners complained about lack of communication, misplaced application documents among other issues. 

 

American to add flights from Charlotte, more seats on its planes

January 29, 2014

(The Charlotte Observer)

Executives from American Airlines say it is considering adding flight routes from Charlotte to several small and midsize cities in the Midwest. The company also will increase the number of seats to many of its planes, adding "slimline" economy-class seats so that it can sell more tickets on each flight.

Former Charlotte news anchor Vince Coakley to run for Congress

January 29, 2014

(The Charlotte Observer)

Former news anchor at Charlotte's WSOC-TV Vince Coakley will run for the 12th Congressional District seat vacated by Mel Watt. Coakley is the first Republican to enter the race in the heavily Democratic district; six Democrats are also running for the seat.