Charlotte

Duke Energy could use drones to improve response time in storms

August 20, 2015

(The Charlotte Observer)

Duke Energy is testing the use of unmanned aerial vehicles that could be used to inspect power lines and solar farms after storms and outages. The Federal Aviation Administration awarded the Charlotte-based utility an exemption to fly the drones in June.

SunTrust seeks to gain market share in Charlotte

August 20, 2015

(The Charlotte Observer)

SunTrust Banks is looking to increase its market share in the Queen City, according to Jenna Kelly, who has been Charlotte region president since May. Kelly says the Atlanta-based bank is adding to its 500 employees in Charlotte, where it opened a regional headquarters at SouthPark in February.

Strong appliance sales boost Lowe's 2Q revenue

August 19, 2015

(The Charlotte Observer)

Home-improvement retailer Lowe's reported revenue of $17.35 billion for the second quarter that ended July 31, compared with $16.6 billion a year ago. The Mooresville-based company has benefited from an improved housing market: The U.S. Commerce Department said this week that construction of single-family homes has reached its highest level since December 2007.

Mann + Hummel to buy Gastonia's Affinia Group

August 18, 2015

(The Charlotte Observer)

Affinia Group, an automotive-parts supplier based in Gastonia, will be acquired by Germany-based Mann + Hummel for $513 million, according to a regulatory filing. The privately held company will also take on Affinia's debt, which Reuters reports was $822 million as of June 30. Affinia employs 1,271 people in Gaston County.

Belk sale spurs emotions of customers with long ties to the department-store group

August 14, 2015

(The Charlotte Observer)

The expected sale of Belk to New York private equity firm Sycamore Partners would remove local ownership of a department-store chain that has had a huge impact on North Carolina. Sycamore is devising an offer of up to $3.5 billion for Belk, according to several reports

 

Swisher Hygiene selling U.S. businesses for $40 million

August 14, 2015

(The Charlotte Observer)

Charlotte-based Swisher Hygiene, a Charlotte-based public company, said will sell its U.S. operations to Minnesota-based Ecolab for $40 million. Earlier this week Swisher sold its Canadian business. Shares of Swisher, a sanitation company, more than doubled to $1.30.

Premier buys software company for $65 million

August 13, 2015

(The Charlotte Observer)

Charlotte-based Premier Inc. purchased software developer Healthcare Insights of Libertyville, Ill. for $65 million. Premier provides hospitals and health care systems with analytics and other services.

Chinese asset manager financing Charlotte skyscraper

August 10, 2015

(The Charlotte Observer)

A Chinese asset management company is helping finance downtown Charlotte's newest office tower, which is being developed by Portman Holdings.

 

Charlotte real-estate investment company delays IPO

August 10, 2015

(The Charlotte Observer)

Real estate investment firm RiverBanc Mulitfamily Investors of Charlotte is delaying its initial public offering.


Read more here: http://www.charlotteobserver.com/news/business/article30407109.html#storylink=cpy

Charter-school takeover bill developed in private

August 10, 2015

(The Charlotte Observer)

Charlotte state representative develops plan for taking over worst-rated public schools outside of "public radar," months after deadline for submitting new legislation.

CPI Security expanding in Charlotte, adding 300 workers

August 7, 2015

(The Charlotte Observer)

CPI Security Systems will break ground Friday on a 120,000-square-foot facility adjacent to its headquarters in Charlotte. The company plans to add 300 jobs to its 540 in Charlotte over the next two years.

BofA shuffles downtown Charlotte workers

August 7, 2015

(The Charlotte Observer)

Bank of America says no workers will be laid off when it vacates four floors – about 85,000 square feet – of 101 Independence Center in downtown Charlotte. The bank says displaced workers will move to other downtown offices. BofA will still be the anchor tenant of the 20-story office building.

Charlotte office tower to break ground Aug. 14

August 6, 2015

(The Charlotte Observer)

Portman Holdings and Trinity Partners will break ground Aug. 14 on a 19-story office tower next to the Westin hotel in downtown Charlotte. Construction on the 370,000-square-foot building, named 615 South College, is expected to be complete by late 2016.
More Charlotte development: Waverly breaks ground; 90-acre mixed-use development is 50% pre-leased

Premier to acquire Pittsburgh company for $400M

August 5, 2015

(The Charlotte Observer)

Premier will pay about $400 million to acquire Pittsburgh-based CECity, which offers cloud-based services for health care organizations, including electronic reporting and continuing education. Charlotte-based Premier will pay $250 million in cash and borrow $150 million from revolving credit.
SNEAK PEEK: Read more about Premier and CEO Susan DeVore in our August cover story

Grubb Properties plans more apartments aimed at millennials

August 5, 2015

(The Charlotte Observer)

Charlotte-based Grubb Properties and partner Foothills Capital plan to build up to 450 apartments on 10.7 acres near Park Road Shopping Center in Charlotte. Plans call for a mixed-use development that could include a hotel and retail shops at the site, which is now occupied by two office buildings.
Read more about Grubb Properties in our July cover story, "Staying on track"

BofA ranks last in financial performance

August 4, 2015

(The Charlotte Observer)

For the fourth year in a row, Bank of America ranked last in financial performance among the 20 largest U.S. banks, according to Bank Director magazine. The annual scorecard bases its rankings on the previous year's profitability, capitalization and asset quality. BB&T ranked seventh, while Wells Fargo ranked fourth.

Cabarrus considers incentives for $56 million project

August 4, 2015

(The Independent Tribune)

At its Monday meeting, Cabarrus County commissioners were expected to vote on incentives for a unnamed manufacturer to invest $56 million in a 200,000-square-foot facility near Midland.

Charlotte's LendingTree posts record revenue in 2nd quarter

August 4, 2015

(The Charlotte Observer)

Charlotte-based LendingTree posted a profit of $4.7 million in the second quarter, compared with a loss of $248,000 a year ago. Revenue reached a record $55.1 million, up 31% from a year ago.

Charlotte developer Crosland dies at 86

August 3, 2015

(The Charlotte Observer)

Prominent Charlotte real-estate developer John Crosland Jr. died Sunday after a long battle with Parkinson's disease.

BofA to hold special vote on chairman issue

August 3, 2015

(The Charlotte Observer)

Bank of America will hold a special meeting for shareholders to weigh in on its decision to make CEO Brian Moynihan chairman. A date for the vote has not been determined.
Related: Latest BofA shakeup means fewer top execs in Charlotte