Charlotte

Mecklenburg's economic-development director wants to get county more involved in recruiting

September 22, 2015

(The Charlotte Observer)

Peter Zeiler, Mecklenburg County's new economic development director, wants his office to take a more active role in recruiting jobs and developing programs that support entrepreneurship.

BofA shareholder vote could be close

September 21, 2015

(The Charlotte Observer)

A Tuesday shareholder vote that will determine whether Bank of America CEO Brian Moynihan will remain chairman is expected to be close. Several major pension funds are opposed to the bylaw change that eliminates the requirement for an independent chairman, while investor Warren Buffett and others support the change. The bank's largest investors haven't spoken on the issue.

Harris Teeter adds gas stations at two Charlotte area stores

September 21, 2015

(The Charlotte Observer)

In an increasingly competitive grocery market, Harris Teeter is adding gas stations at stores in Harrisburg and Fort Mill, S.C. The Matthews-based grocer, which was acquired last year by Cincinnati-based Kroger, isn't saying if more gas stations are planned.

BofA cuts pay for IT contractors

September 18, 2015

(The Charlotte Observer)

Contract information-technology workers for Charlotte-based Bank of America said they were told to expect a 10% pay cut and a required two-week, unpaid furlough. A BofA spokesman said the changes affect contractors affiliated with the company's global technology and operations unit.

South Carolina offered Electrolux $67 million

September 17, 2015

(The Charlotte Observer)

When Swedish appliance-maker Electrolux looked at expanding its North American headquarters in Charlotte two years ago, South Carolina offered an incentive package worth nearly $67 million, almost double the $34 million offered by North Carolina. Documents from the N.C. Department of Commerce show the Palmetto State tried to lure existing jobs away from Charlotte in addition to the 810 new jobs.

Average apartment rent reaches $1,000 in Charlotte

September 16, 2015

(The Charlotte Observer)

Despite an apartment building boom in Charlotte, the vacancy rate dropped to 5.7% from 6.7% in March while the average monthly rent climbed to $1,000, up from $938, according to a semiannual report by Real Data. More than 12,000 apartments are under construction in the Queen City, with another 13,503 planned. Average rent in the Raleigh/Durham area was slightly higher, at $1008.

Leader of NC Research Campus leaving to take job in Atlanta

September 16, 2015

(The Salisbury Post)

Clyde Higgs is stepping down as executive vice president of operations and business development at the North Carolina Research Campus. A NCRC employee since 2006, Higgs replaced Lynne Scott Safrit as leader of the Kannapolis-based center following her resignation in April. He will become vice president and COO of a major transit and economic-development project in Atlanta.

Charlotte's AvidXchange breaks ground on new HQ, raises $225M

September 15, 2015

(The Charlotte Observer)

AvidXchange broke ground Monday on its new Charlotte headquarters, where the software company plans to create more than 600 new jobs. AvidXchange also said it recently completed a $225 million round of financing led by Bain Capital Ventures.

Hickory's CommScope to acquire Massachusetts-based company

September 15, 2015

(Xconomy.com)

CommScope will acquire Chelmsford, Mass.-based Airvana, which provides equipment for wireless coverage inside buildings, for an undisclosed amount. The Hickory-based telecommunications company recently completed its $3 billion acquisition of TE Connectivity's telecom, enterprise and wireless businesses.

Concord gets $6.4M federal grant for new airport terminal

September 14, 2015

(The Independent Tribune, Concord)

Concord was awarded a $6.4 million grant from the Federal Aviation Administration to build a 25,000-square-foot commercial terminal at Concord Regional Airport. The new terminal will help the airport handle a growing number of passengers since low-cost carrier Allegiant Air began offering service in December 2013.

Victims of Ponzi scheme sue CommunityOne Bank

September 14, 2015

(The Charlotte Observer)

About 30 investors in the Black Diamond Ponzi scheme are suing CommunityOne Bank. The U.S. government said the bank, whose parent company is based in Charlotte, failed to report the $40 million scheme after the bank's computer software detected suspicious activity on mastermind Keith Simmons' account.
Related: "Money for nothing," August 2012

Duke Energy to pay $5.4 million to settle federal lawsuit

September 11, 2015

(The News & Observer, Raleigh)

Charlotte-based Duke Energy agreed to spend $5.4 million to settle a federal lawsuit filed against the company in 2000. The Environmental Protection Agency said Duke illegally modified five power plants, which increased emissions.

Jeld-Wen makes third acquisition in a month

September 11, 2015

(The Charlotte Observer)

Jeld-Wen said Thursday it has acquired Karona, a Michigan-based door manufacturer, for an undisclosed sum. The Charlotte-based company recently bought Norwegian door-maker Dooria and Australian window manufacturer Aneeta. The Wall Street Journal said last month that Jeld-Wen is planning for a possible initial public offering.

Pittenger refuses to discuss FBI investigation

September 10, 2015

(The Charlotte Observer)

Back in Washington after the summer recess, U.S. Rep Robert Pittenger declined to answer questions about a federal investigation into whether he improperly used money from his former real-estate company to finance his 2012 campaign.

Sheetz hiring for 3 new stores in Catawba County

September 10, 2015

(The Charlotte Observer)

Sheetz is looking to fill up to 100 jobs for three new stores in Hickory and Conover. The Altoona, Pa.-based convenience-store chain last year opened a $50 million distribution center in Burlington and has been aggressively expanding in the state.

20-story office tower planned in Charlotte's First Ward

September 9, 2015

(The Charlotte Observer)

Levine Properties plans to build a 20-story office tower in downtown Charlotte's First Ward. The Charlotte real-estate developer is seeking an anchor tenant for the 325,000-square-foot building, which is located on the light-rail extension that is scheduled to open in 2017.

Moynihan has some powerful friends

September 9, 2015

Bank of America CEO Brian Moynihan's efforts to hang onto his chairman's title at the Charlotte-based bank received support Tuesday from Warren Buffet and C.D. "Dick" Spangler. Are the billionaires right?

Dimensional picks Charlotte site for East Coast headquarters

September 9, 2015

(The Charlotte Observer)

Dimensional Fund Advisors has picked a site in Charlotte's South End neighborhood for its East Coast headquarters. The Austin, Texas-based investment company plans to build a 250,000-square-foot building; Dimensional said in July it will create 316 jobs with average annual salaries of $147,025 by the end of 2020.

Another adviser opposes BofA bylaw change

September 8, 2015

(The Charlotte Observer)

institutional Shareholder Services last week joined proxy adviser Glass Lewis & Co. in opposing a bylaw change that allowed Bank of America CEO Brian Moynihan to become chairman. Investors are scheduled to vote on the issue on Sept. 22 in Charlotte.

200 layoffs expected as Cornelius racing company closes

September 4, 2015

(The Charlotte Observer)

Michael Waltrip Racing will cease operations by April 15 and 217 workers will lose their jobs, according to a notice filed with the N.C. Commerce Department. The company, owned by Charlotte businessman Rob Kauffman, hasn't won a race in more than two years.