Charlotte

Forbes appraises Charlotte Bobcats at $410 million

January 23, 2014

(The Charlotte Observer)

According to Forbes magazine, the Charlotte Bobcats are worth an estimated $410 million, 30% more than last year.  The magazine also estimates the NBA team made a profit of about $7 million in 2013, though the team hasn't disclosed that information.

Duke Energy wants to pay less for solar energy from NC homes

January 23, 2014

(The News & Observer, Raleigh)

Charlotte-based Duke Energy says it wants to reduce payments for solar energy to North Carolina households that generate it using residential solar panels. Duke CEO said the pay rates were established at a time when solar energy costs were higher than they are now. Solar advocates say reducing payments for solar energy would stall solar development.

 

Lufthansa will continue daily Charlotte-Munich flights

January 22, 2014

(The Charlotte Observer)

Lufthansa will continue daily flights from Charlotte to Munich, one of the airline's most profitable due to the concentration of companies with German ties in the Charlotte area. Airline analysts had speculated Lufthansa, a member of the Star Alliance, may discontinue the flights after the American Airlines-US Airways merger since US Airways is leaving the Star Alliance to join American's international alliance.

Proximity to interstate, local interest made Cleveland County top choice for casino proposal

January 21, 2014

(The Shelby Star)

Catawba Chief Bill Harris said proximity to Interstate 85 and receptive local leaders made Cleveland County the Catawba Indian Nation's choice for a proposed resort and casino, which studies have shown could bring more than 4,000 new jobs to the area. The Catawbas submitted an application in 2013 with the U.S. Department of the Interior for land trust and casino rights and are awaiting a decision. 

Wells Fargo testing voice-recognition technology for smartphones

January 21, 2014

(The Charlotte Observer)

Wells Fargo is preparing to introduce voice-recognition technology to its 12 million mobile banking customers. The San Francisco-based bank hasn't released a timeline for the rollout, but has begun testing the technology as more customers are conducting banking transactions using their mobile phones.

Charlotte airport plans renovations to keep up with national trend

January 20, 2014

(The Charlotte Observer)

Charlotte Douglas International Airport will begin a major terminal renovation this year in an effort to keep up with other airports around the country which are spending billions to upgrade aging buildings and  to encourage travelers to spend more while passing through. 

Kroger-Harris Teeter deal to close later this month

January 20, 2014

(The Charlotte Observer)

Cincinnati-based Kroger Co. will complete its acquisition of Matthews-based Harris Teeter by the end of January. Kroger hasn't said how many of Harris Teeter's 550 headquarters jobs will remain, but it has said that Harris Teeter will keep its name and locally-based management.

Chemical manufacturer expanding into Charlotte

January 17, 2014

(The Charlotte Observer)

InChem Corp. will invest $15 million and create 40 jobs over three years at a chemical manufacturing plant in Charlotte. The Rock Hill-based company bought the 20-acre site and existing 150,000-square-foot factory from Virkler Chemical, whose owner is retiring.

Champion Home Builders to close plant in Salisbury, expand in Lillington

January 17, 2014

(The Winston-Salem Journal)

Champion Home Builders will close its Salisbury manufacturing plant and eliminate 93 jobs there. The company plans to expand production capacity at its Lillington operation, and affected workers in Salisbury will be given transfer opportunities.

2013 most profitable year since 2007 for Bank of America

January 16, 2014

(The Charlotte Observer)

Bank of America reported earnings of $3.2 billion in its fourth quarter, up 45% from the previous quarter. Overall, the Charlotte-based bank reported earnings of $10.1 billion in 2013, making it the bank's most profitable year since 2007.

Sears to close Shelby store in April

January 16, 2014

(The Gaston Gazette)

Sears Holdings Corp. announced it will close its Cleveland Mall store in April, affecting 56 employees. Workers will receive severance and may apply for positions at other area Sears and Kmart stores. The company elected not to renew its lease; it is unclear whether the company plans to close any other area stores.

New owner of DesignLine ready to resume production

January 14, 2014

(The Charlotte Observer)

The California-based company that purchased assets of Charlotte's DesignLine has renamed the company, hired 40 workers and wants to get back to producing hybrid buses. EPV Corp., which stands for Environmental Performance Vehicles, has been in talks with potential customers, according to the company's attorney Rick Mitchell.

Charlotte, Raleigh, 5th and 6th best cities for job-seekers

January 15, 2014

(The Charlotte Observer)

Consumer finance website Nerdwallet.com has ranked Charlotte the No. 5 best city for job-seekers, based on unemployment rates, population growth and cost of living. Raleigh came in sixth on the list, which was led by Austin, Texas.

American, US Airways begin merging flight networks

January 14, 2014

(The Charlotte Observer)

US Airways and American Airlines will begin combining flight networks starting Jan. 23, allowing customers to book travel arrangements on either company's website. The airlines have made a codeshare agreement, which will allow each carrier the ability to sell tickets for the other, giving customers easy access to the combined company's offerings.

Target security breach prompts banks to issue new debit cards

January 14, 2014

(The Charlotte Observer)

BB&T, SunTrust and Yadkin Bank are among banks with a presence in the Charlotte area which have begun preemptively sending replacement debit cards to shoppers potentially affected by the Target security breach. Others, such as Bank of America and Wells Fargo, say they are actively monitoring customer accounts.

Construction to begin in March on Charlotte light-rail extension

January 14, 2014

(The Charlotte Observer)

Major construction on Charlotte's $1.6 billion Blue Line extension, which will run from downtown to UNC Charlotte, should begin in March and should open to the public in spring 2017. Between 14,000 and 15,000 people use the city's existing light-rail line each day.

New Bojangles' CEO says sales might reach $1 billion this year

January 13, 2014

(The Charlotte Observer)

The incoming CEO of Charlotte-based Bojangles' says the company could reach $1 billion in sales for the first time this year. Clifton Rutledge says he plans to continue the company's strategy of growth in the Southeast rather than expansion into other regions.

Kannapolis health-services company expanding into Mecklenburg

January 13, 2014

(The Salisbury Post)

Kannapolis-based Cardinal Innovations Healthcare Solutions will open a new service center in Northeast Charlotte, creating 80 jobs in fields including customer-service management, claims processing and technology support.

Top executive leaves Family Dollar after profits decline

January 10, 2014

(The Charlotte Observer)

Michael Bloom, chief operating officer of Matthews-based Family Dollar since 2011, has left the company. The discount retailer reported a 3% decline in profits for the 3-month period ending Nov. 30 and lowered its earnings expectations for the 2nd quarter of 2014 and for the year.  CEO Howard Levine said that many of the company's low-income customers are still struggling in today's economy.

Electrolux to expand oven plant in Memphis

January 10, 2014

(The Charlotte Observer)

Less than a month after announcing it will add 810 new jobs at its North American headquarters in Charlotte, Electrolux said it will hire 650 workers at its kitchen oven plant in Memphis, Tenn.  The company expects to employ 1,200 there eventually and produce 600,000 ovens annually.