Charlotte

Lawmakers seek alternatives to I-77 tolls

May 13, 2015

(The Charlotte Observer)

Lawmakers from the I-77 corridor north of Charlotte are bringing concerns about proposed toll lanes to Gov. Pat McCrory in a last-ditch effort to find alternatives to the plan. The state is about to sign a $650 million contract with a private company to build and operate toll lanes in the 26-mile corridor ("Taking a Toll," April).

Food Lion parent in merger talks

May 12, 2015

(The Charlotte Observer)

Delhaize Group, the Brussels-based parent company of Food Lion, and Netherlands-based Royal Ahold are in preliminary merger talks, according to Belgian newspapers. Ahold operates Stop & Shop grocery stores in the U.S.

Lowe's buying 13 former Target stores in Canada

May 12, 2015

(The Charlotte Observer)

Home-improvement retailer Lowe's will acquire 13 former Target stores and a distribution center in Canada for about $124 million. Target announced in January it was exiting the country after a failed expansion. Mooresville-based Lowe's has 38 stores and about 6,000 employees in Canada.

Bojangles' shares up 25% after stock-market debut

May 11, 2015

(The Charlotte Observer)

Shares of Charlotte-based Bojangles' closed Friday at $23.75, up 25% from its IPO price of $19 a share. CEO Clifton Rutledge said Friday the company plans to expand gradually and won't move too quickly into new markets.

Commercial Credit postpones IPO

May 11, 2015

(The Charlotte Observer)

Charlotte-based lender Commercial Credit Group has postponed its plans to go public, according to IPO adviser Renaissance Capital. Las Vegas-based International Market Centers, which owns the majority of showroom buildings at the High Point Market, also postponed its planned IPO, Renaissance said last week.

Growth up next for Bojangles' after Friday's IPO

May 8, 2015

(The Charlotte Observer)

Bojangles' will sell 7.75 million shares priced at $19 each, according to a securities filing Thursday. Friday's IPO could raise as much as $169 million. The Charlotte-based fast-food chain plans to increase the number of stores by 7 to 8% a year, though it could face challenges in the competitive breakfast segment and in expanding beyond the Carolinas.

Duke CEO faces shareholder questions

May 8, 2015

(The Charlotte Observer)

At Duke Energy's annual meeting in Charlotte on Thursday, CEO Lynn Good fielded questions about coal-ash storage plans and whether the utility would try to recoup a $10 million loan the company made to the Democratic National Convention in 2012.

Bojangles' to offer more shares in IPO

May 7, 2015

(The Charlotte Observer)

Charlotte-based Bojangles' increased the number of shares it will sell in its IPO, expected to be Friday, from 6.25 million to 7.75 million. The fast-food restaurant chain also upped the price range to $18 to $19 per share from $15 to $17.

No large protests expected for Duke Energy's annual meeting

May 7, 2015

(The Charlotte Observer)

Duke Energy shareholders will gather in downtown Charlotte Thursday for the company's annual meeting.

Charlotte office tower sells for $108M

May 6, 2015

(The Charlotte Observer)

A 20-story office tower in downtown Charlotte has sold for nearly $108 million. The 565,000-square-foot building is 83% leased, with Bank of America as its largest tenant. The buyer is a corporation affiliated with Cornerstone Real Estate Advisers.

Charlotte's Duke Energy invests in $3B pipeline

May 6, 2015

(The Charlotte Observer)

Duke Energy will invest about $225 million in a proposed $3 billion natural-gas pipeline that will run through Alabama, Georgia and Florida.

Daimler adding 605 jobs in Gaston County

May 5, 2015

(The Charlotte Observer)

Daimler Trucks North America will add 605 jobs at its Freightliner truck manufacturing plant in Mount Holly. The Portland, Ore.-based company plans to add a third shift by mid-July to meet demand for its medium-duty and severe-duty trucks.

BofA will let shareholders vote on combining CEO, chairman roles

May 5, 2015

(The Charlotte Observer)

Reversing its previous stance, Bank of America will allow shareholders to vote on its decision to combine CEO and chairman roles. The bank decided in October to change its bylaws and give CEO Brian Moynihan the chairman title. A company spokesman said the vote won't occur at this year's annual meeting, scheduled for Wednesday in Charlotte.

Charlotte financial firm plans IPO

May 4, 2015

(The Charlotte Observer)

Charlotte-based Commercial Credit Group is expected to go public this week. The firm, which provides loans to midsize and family-owned companies, plans to sell 7.3 million shares priced between $15 and $17 per share, according to an SEC filing, and could raise up to $123 million.

Family Dollar sale nears completion

May 4, 2015

(The Charlotte Observer)

Dollar Tree said it expects to complete its $8.5 billion purchase of Matthews-based Family Dollar Stores this month. The Chesapeake, Va.-based discount retailer has said it will keep the Family Dollar name and headquarters, though impact on corporate jobs is unclear. The companies are awaiting approval from the Federal Trade Commission.

Concord's Alevo preps for production

May 4, 2015

(The Independent Tribune, Concord)

Alevo Group expects to be producing batteries within six weeks at the 2.3 million-square-foot former Philip Morris cigarette plant in Concord. Scott Schotter, chief marketing and sustainability officer, says the plant could have as many as 20 assembly lines in five years, depending on market demand for its GridBanks product.

Grubb Properties launches new fund

May 4, 2015

(The Charlotte Observer)

Charlotte-based Grubb Properties launched a new fund, its fifth since 2009, to raise money for acquiring and developing residential and commercial properties in urban areas.

Former Beazer Homes exec sentenced in Charlotte

May 1, 2015

(The Charlotte Observer)

A former Beazer Homes USA executive was sentenced to 10 years in prison for his role in an accounting scheme that led to hundreds of foreclosures in the Charlotte area. Michael Rand was the Atlanta-based homebuilder's former chief accounting officer.

Food Lion revenue increases amid store makeovers

May 1, 2015

(The Charlotte Observer)

Delhaize, the Brussels-based parent company of Salisbury-based Food Lion, said first quarter sales at its U.S. stores increased 3.2% to $4.4 billion compared with the same period last year. CEO Frans Muller said the company was encouraged by results at recently renovated Food Lion stores.

Bojangles' IPO expected next week

April 30, 2015

(The Charlotte Observer)

Bojangles' is expected to make its stock-market debut next week, according to Renaissance Capital, an IPO-focused research and management firm. The Charlotte-based restaurant chain said this week it plans to sell 6.2 million shares priced between $15 and $17 each. The IPO could raise about $122 million.