Charlotte

Piedmont Natural Gas sets record in February

March 5, 2015

(The Charlotte Observer)

Charlotte-based Piedmont Natural Gas delivered a record volume of gas in the month of February and set a single-day record on Feb. 19. The company has more than one million customers in the Carolinas and Tennessee.

Former Charlotte Knights stadium demolished

March 5, 2015

(The Charlotte Observer)

Demolition crews began razing the former Charlotte Knights baseball stadium in York County, S.C. Charlotte-based retailer Cato bought the land and has said it plans to build a distribution center there. Attendance has soared since the Knights moved to a new stadium in uptown Charlotte last summer.

Charlotte's Frontier Capital raises $390M

March 4, 2015

(The Charlotte Observer)

Charlotte-based Frontier Capital has raised $390 million in its fourth fund, exceeding its initial goal of $300 million. The private-equity firm invests in fast-growing software and business-services companies with annual revenues between $5 million and $30 million. 

Furniture company leaves Charlotte for Fort Mill, SC

March 4, 2015

(The Charlotte Observer)

Broad River Furniture, which operates 16 Ashley Furniture stores and one outlet store, will move its headquarters and distribution center from Charlotte to Fort Mill, S.C., where it will employ 200 people. The retailer will invest $12.6 million in its new 174,000-square-foot campus, which is expected to be open by November.

Family Dollar CEO sells more shares

March 4, 2015

(The Charlotte Observer)

Family Dollar Stores CEO Howard Levine plans to sell one to two million shares of the company's stock over the next five days, according to a securities filing. Levine sold almost 1.8 million shares last month for about $135 million. Chesapeake, Va.-based Dollar Tree is awaiting FTC approval to complete its $8.5 billion acquisition of the Matthews-based retailer.

Belk Endowment gives $9.6M to community college programs

March 4, 2015

(The Charlotte Observer)

The John M. Belk Endowment will give $7.75 million to the Single Stop program, which provides resources for students to complete community college. The endowment also plans to give financial awards to eight other organizations that support community colleges. 

Quicken overtakes BofA on list of top mortgage lenders

March 3, 2015

(The Charlotte Observer)

Bank of America slipped a spot to fourth place on a ranking of lenders with top mortgage market share. San Francisco-based Wells Fargo is still the nation's largest mortgage lender, followed by JPMorgan Chase and Detroit-based Quicken Loans. 

LGBT ordinance defeated in Charlotte

March 3, 2015

(The Charlotte Observer)

The Charlotte City Council voted 6-5 against a proposal that would have extended nondiscrimination protections to include sexual orientation and gender identity. Prior to the vote, the council removed a controversial section of the ordinance that would have allowed transgender people to use the bathroom of the the gender they identify with.

Negotiations fail between Carolinas HealthCare System and insurer

March 2, 2015

(The Charlotte Observer)

A contract between Carolinas HealthCare System and UnitedHealthcare expired Saturday, which means tens of thousands of United customers are now considered out-of-network for CHS providers. The change affects one of Charlotte's largest employers –Duke Energy uses UnitedHealthcare. Charlotte-based CHS said it will extend temporary in-network pricing to some United customers.

Development ramping up along I-77 south of Charlotte

March 2, 2015

(The Charlotte Observer)

Through large business-incentive packages, the Palmetto State is luring companies to the Fort Mill and Rock Hill areas, just south of Charlotte along I-77. LPL Financial broke ground Thursday on its new Fort Mill, S.C., headquarters, where it will eventually employ up to 3,000 workers. LPL plans to move about 1,000 workers from Charlotte to the new 450,000-square-foot campus. 

Gaston country club tries out 'escape to the office' concept

March 2, 2015

(The Gaston Gazette, Gastonia)

The renovated clubhouse at Cramer Mountain Club will feature 17 executive office suites with golf-course views. The private club closed and entered bankruptcy in 2012. Residents successfully launched a campaign to reform the club, but the massive 35,000-square-foot clubhouse posed a challenge for developer Eric Vargosko. Five of the suites, which range from 630 to 6,000 square feet, have already sold.

Two BofA board members leaving

February 27, 2015

(The Charlotte Observer)

Chad Holliday Jr. and Clayton Rose will not seek re-election to the board of directors at Bank of America. Holliday was named chairman of Royal Dutch Shell in October; Rose will become president of Bowdoin College in Maine. Also stepping down is Chief Accounting Officer Neil Cotty. Rudolf Bless, deputy chief accounting officer, will replace him.

Family Dollar stores could be rebranded

February 26, 2015

(The Charlotte Observer)

Dollar Tree CEO Bob Sasser said he expects the discount-store chain will have to close no more than 300 stores in order to receive FTC approval of its acquisition Family Dollar Stores. He says many Family Dollar stores will be rebranded to Dollar Tree after the deal closes. Dollar Tree hasn't said how many jobs it will cut at Family Dollar's Matthews headquarters.

Emeril Lagasse closing Charlotte restaurant

February 26, 2015

(The Charlotte Observer)

E2 Emeril's Eatery in downtown Charlotte will close April 26 due to slow business. "The restaurant was never able to achieve the volume projected when we came to Charlotte," E2 tweeted. Celebrity chef Emeril Lagasse opened the restaurant in 2012.

Allegiant adding third Florida route out of Concord

February 25, 2015

(The Independent Tribune, Concord)

Allegiant Air will add twice-weekly, nonstop service from Concord to Fort Lauderdale, Fla., beginning May 8. It's the low-cost carrier's third Florida destination from Concord Regional Airport; Allegiant already has flights to the Orlando and Tampa Bay areas. 

Charlotte's Polypore sold to Japanese chemical company

February 24, 2015

(The Charlotte Observer)

Charlotte-based Polypore will be sold to a Japanese chemical company in a deal valued at $3.2 billion. Asahi Kasei will pay $60.50 per share in cash for the parent company of Celgard, which makes battery components and has plants in Charlotte and Concord.

U.S. Attorney Anne Tompkins stepping down

February 24, 2015

(The Charlotte Observer)

U.S. Attorney Anne Tompkins will leave office in two weeks. Tompkins, 52, has been the top federal prosecutor for the Western District of North Carolina since 2010 and directed the corruption investigation of former Charlotte Mayor Patrick Cannon. First Assistant U.S. Attorney Jill Rose will serve as acting attorney until a replacement is named.

Nine federal charges filed against Duke Energy

February 23, 2015

(The Charlotte Observer)

Federal prosecutors on Friday filed nine misdemeanor charges against Duke Energy for coal-ash pollution at the utility's power plants in Asheville, Charlotte, Eden, Goldsboro and Moncure. In an earnings report released earlier in the week, Charlotte-based Duke said it had agreed to pay $102 million to settle the cases.
Related: Federal probe appears to blame Duke Energy, not NC DENR

Uptown Charlotte looks to attract more shoppers, retailers

February 23, 2015

(The Charlotte Observer)

Uptown Charlotte, which is projected to have more than 15,000 residents by year-end, has plenty of restaurants and bars but a scarcity of retail shops. Chris Hemans, director of retail for Charlotte Center City Partners, says adding better signage for parking and encouraging existing retailers to stay open on the weekends will help lure more shoppers uptown.

CaroMont Health extends lease agreement with Gaston

February 23, 2015

(The Gaston Gazette)

CaroMont Health will extend its lease agreement with Gaston County for 40 years and plans to invest $200 million in improvements at the 435-bed hospital. The health system will continue to rent the property for $1 a year, but will make a one-time payment of $20 million to the county in March.