Charlotte

Speedway Motorsports realigns top execs

February 13, 2015

(The Independent Tribune, Concord)

Bruton Smith will step down as CEO of Speedway Motorsports and Marcus Smith, his son, will assume the role. Bruton Smith, CEO and chairman since the Concord-based company's initial public offering in 1995, will become executive chairman. Marcus Smith has served as president and chief operating officer since 2008.

BofA lays off 250 in Charlotte

February 12, 2015

(The Charlotte Observer)

Bank of America will lay off 250 mortgage and technology workers in Charlotte. Most of the affected employees work in uptown's Gateway Village. The Charlotte-based bank announced last week it was laying off 202 people in its Legacy Assets Servicing unit, which services troubled loans, in Norfolk, Va.

Crescent unveils plans for uptown Charlotte development

February 12, 2015

(The Charlotte Observer)

Crescent Communities plans to begin construction of a mixed-use project in uptown Charlotte in the fourth quarter. The development will include up to 400 hotel rooms, 450 apartments and a 47,000-square-foot Whole Foods grocery store with a rooftop deck. Construction is expected to be complete by late 2017.

Report: BofA used government-backed funds to finance trades

February 12, 2015

(The Charlotte Observer)

The Wall Street Journal reported that Bank of America used funds from its government-backed U.S. banking subsidiary to finance billions of dollars in controversial transactions that helped hedge funds and others avoid taxes. A bank spokesman says the practice, which dates back to 2011, has ended.

Duke Energy seeks uses for recycled coal ash

February 12, 2015

(Asheville Citizen-Times)

Duke Energy has asked researchers to submit analyses of potential uses for recycled coal ash to the state by Feb. 20. Company officials say they believe they can use the all of the byproduct being produced today in concrete and other applications.

Charlotte is nation's largest city without lobbying rules

February 11, 2015

(The Charlotte Observer)

Following former Mayor Patrick Cannon's arrest on corruption charges, Charlotte City Council members have agreed to tighten the city's ethics policy but there has been little mention of adding transparency requirements for lobbyists. Other large cities, and some smaller ones, require lobbyists to register and report interactions with public officials. 

Duke Energy looks toward solar expansion in SC

February 11, 2015

(The Charlotte Observer)

Duke Energy wants South Carolina regulators to approve a plan that will allow it to expand its solar offerings in the state. The plan would allow rebates of up to $5,000 for customers who install rooftop solar arrays and would allow the Charlotte-based utility to add up to 110 megawatts of solar energy by 2021.
Related: Duke Energy takes majority stake in solar firm

NCDOT says Charlotte can decide on I-485 carpool lane

February 10, 2015

(The Charlotte Observer)

The N.C. Department of Transportation told Charlotte officials the state can open an unused lane of I-485 as a carpool lane if a regional transportation planning group requests it. The unused lane on Charlotte's outer belt is being reserved to create a toll lane, which won't open until 2019 or 2020.

CLT will become overcrowded without expansion

February 10, 2015

(The Charlotte Observer)

Officials say Charlotte Douglas International Airport is near capacity and passengers will experience delays and congestion if city leaders don't approve a 20-year expansion plan. The airport predicts the number of passengers will grow at a rate that will make it comparable with Atlanta and Chicago O'Hare. Plans call for dozens of additional gates and construction of a fourth parallel runway.

Atlanta's view of Charlotte

February 10, 2015

(The Charlotte Observer)

Charlotte's job growth over the past five years has been twice as fast as Atlanta's, according to a report in Monday's Atlanta Journal-Constitution. The report, which examines Atlanta's economy by taking a look at southern competitors Charlotte and Dallas, applauds Charlotte's investment in redeveloping its center city, which has more than tripled its uptown population.

Charlotte apartment boom could mean higher vacancy rates

February 9, 2015

(The Charlotte Observer)

Charlotte has more than 10,000 apartment units under construction, but some local real-estate executives say higher vacancy rates are on the horizon. That could mean rental rates will level off as competition increases. 

BofA's reputation ranks among worst in the U.S.

February 9, 2015

(The Charlotte Observer)

A survey released last week placed Bank of America among the least favorable U.S. corporations. The Harris Poll survey ranked the 100 most visible companies in the nation. New York-based Goldman Sachs had the worst reputation, while Charlotte-based BofA ranked in the bottom 10. 

Chiquita leaving Charlotte by year-end

February 9, 2015

(The Charlotte Observer)

Chiquita Brands International has begun layoffs in Charlotte, and the produce company plans to leave the city by the end of 2015, sooner than previously announced. The produce company said last month it would move its headquarters over 12 to 18 months after it was acquired by two Brazilian companies for $631 million.

Snyder's Lance adds healthy-snack division

February 9, 2015

(The Charlotte Observer)

Snyder's-Lance will add a new division focused on healthy snacks, the Charlotte-based company announced last week. The company increased its equity in organic-chip manufacturer Late July Snacks in November.

American Airlines seeks to extend NC sales tax break

February 6, 2015

(The Charlotte Observer)

American Airlines, which accounts for more than 90% of flights at Charlotte Douglas International Airport, is joining other carriers in seeking an exemption from millions of dollars in sales taxes on jet fuel. A tax break that caps the taxes at $2.5 million is set to expire in 2016.

Charlotte airport breaks passenger record

February 5, 2015

(The Charlotte Observer)

More than 44.3 million people traveled through Charlotte Douglas International Airport in 2014, breaking an all-time passenger record. The total number of passengers increased 2% over the previous year, while the number of international passengers rose 4%. 

Charlotte airport seeks to expand, add 4th runway

February 5, 2015

(The Charlotte Observer)

Charlotte Douglas International Airport wants to build a fourth runway at a cost of $92.5 million and increase the number of gates from 93 to 164. The airport will present expansion plans to the Charlotte City Council on Monday.

Carolinas HealthCare CEO earned $5.3M in 2014

February 5, 2015

(The Charlotte Observer)

Carolinas HealthCare System CEO Michael Tarwater received $5.3 million in 2014, a 7.7% increase over the previous year. Each of the Charlotte-based health system's top 10 executives received more than $1 million in total compensation last year. The system operates or manages more than 40 hospitals in three states.

11-acre mixed-use project proposed for Charlotte's Providence Road

February 5, 2015

(The Charlotte Observer)

Two Charlotte real-estate firms filed a rezoning request for an 11-acre mixed-use project at Providence and Fairview roads. Levine Properties and Raley Miller Properties are seeking to build a development with up to 225 apartments and 100,000 square feet of retail and dining space. The development would replace the 40-year-old Carmel on Providence apartment complex.

Barksdale named CEO of Carolina Premier Bank

February 4, 2015

(The Charlotte Observer)

Charlotte-based Carolina Premier Bank named David Barksdale – previously chief strategy officer for Greensboro-based NewBridge Bank – president and CEO. He replaces John Kreighbaum, who announced his resignation as head of the community bank in August.