Charlotte

Charlotte's first outlet mall nears opening

July 1, 2014

(The Charlotte Observer)

The Charlotte Premium Outlets, a partnership between Simon Property Group and Tanger Factory Outlet Centers, is set to open at the end of the month.

UnitedHealth to join insurance exchange in 2015

June 30, 2014

(The Charlotte Observer)

UnitedHealthcare, the nation's largest insurer, notified the N.C. Department of Insurance that it intends to sell subsidized coverage in North Carolina under the Affordable Care Act next year. It would become the third insurer to do so.

Construction to begin in January on EpiCentre hotels

June 27, 2014

(The Charlotte Observer)

Construction on a 20-story hotel tower at Charlotte's EpiCentre entertainment complex will begin in January and should be completed in about 15 months. The tower, which will house two Marriott branded hotels, was announced earlier this month.

BofA lays off 540 workers in Charlotte

June 26, 2014

(The Charlotte Observer)

Bank of America announced Wednesday it will lay off 540 mortgage workers in Charlotte. The cuts are in a division created in 2011 to service troubled mortgages, including many that stemmed from the bank's 2008 acquisition of Countrywide Financial.  

American, US Airways ticket prices vary for same flights

June 25, 2014

(The Charlotte Observer)

Although American Airlines and US Airways completed their merger in December, the companies have not yet merged their reservation systems. Airline ticket prices for the same flights on the same planes can vary widely depending on which carrier's website customers use for booking. 

SkyHouse developer plans second apartment tower in Charlotte

June 25, 2014

(The Charlotte Observer)

Developers of the 24-story SkyHouse apartment tower in uptown Charlotte are planning a second tower on the lot next to it. A spokesman from Atlanta-based Novare Group says the developer has the land under contract. The project is still in the early stages of planning.

NC Senate votes unanimously for closure of coal-ash pits

June 25, 2014

(The Charlotte Observer)

The state Senate voted 45-0 on the second reading of a bill that would force Duke Energy to close all of its coal-ash ponds. The legislation, which will require a third Senate vote on Wednesday, requires Duke to move ash from four power plants to lined landfills and close all 33 of its ash ponds in the state within 15 years. 

BofA announces changes to rewards program

June 24, 2014

(The Charlotte Observer)

Bank of America introduced a new rewards program Monday that extends benefits to customers with at least $20,000 in checking, savings or investment accounts. Previously, clients needed $50,000 in assets in the Charlotte-based bank to qualify for rewards.

Delta Apparel cutting 70 jobs at Maiden plant

June 24, 2014

(The Fayetteville Observer)

Delta Apparel will eliminate 70 jobs at its manufacturing plant in Maiden and will increase production at its plant in Honduras. About 190 employees will remain at the Maiden factory.

Two new developments under way in north Mecklenburg

June 24, 2014

(The Charlotte Observer)

Construction has begun on Two Harbour Place in Davidson, a 51,000-square-foot office and retail building that will serve as the regional office for Minneapolis-based paint company Valspar Corp. In Huntersville, Northwood Ravin broke ground on a 400-unit apartment project. Construction on both projects is expected to be completed in 2015.

Concrete industry wants to buy Duke's coal ash

June 23, 2014

(The Charlotte Observer)

Concrete companies wonder why Duke Energy isn't willing to sell more of its coal ash for use in cement. Charlotte-based Duke says it is evaluating several construction products that could be made with the ash. 

Icahn: Family Dollar must be sold

June 20, 2014

(The Charlotte Observer)

Investor Carl Icahn, who revealed earlier this month he has a 9.4% stake in Matthews-based Family Dollar, told company CEO Howard Levine in a letter that the discount store chain must be put up for sale immediately. The letter also says Icahn wants three seats on the board of directors that would form a committee to explore the sale of the company.

Judge rules SEC case against BofA can move forward

June 20, 2014

(The Charlotte Observer)

A federal judge ruled the Securities and Exchange Commission can proceed with a lawsuit filed in August against Bank of America over the sale of mortgage-backed bonds that were riskier than investors were told.

Charlotte leaders learn how Minneapolis landed the Super Bowl

June 20, 2014

(The Charlotte Observer)

The Charlotte Chamber, on its annual visit to explore how other U.S. cities are run, spent time with Minneapolis city leaders to learn how they won bidding for the 2018 Super Bowl. Minneapolis-St. Paul has a $1 billion stadium under construction that helped it win the bid over more experienced cities.

20-story hotel tower coming to Charlotte's EpiCentre

June 19, 2014

(The Charlotte Observer)

Developers expect to begin construction early next year on a 20-story, 302-room hotel tower at the EpiCentre entertainment complex in downtown Charlotte. The tower, which will house two Marriott hotels, will be developed by a partnership of Florida-based McKibbon Hotel Management and Charlotte-based Vision Ventures and Mount Vernon Asset Management.

Quarterly dividend still a penny for BofA shareholders

June 19, 2014

(The Charlotte Observer)

Bank of America announced Wednesday its shareholders will get a 1-cent per share dividend for the second quarter, the same as it has been since before the financial crisis. The bank had said it would increase the quarterly dividend to 5 cents a share, but later revised its plan after discovering it had miscalculated capital ratios.

Charlotte's Northlake Mall to be sold

June 19, 2014

(The Charlotte Observer)

Northlake Mall will be sold to Starwood Property Group as part of a $1.4 billion transaction that includes seven malls in Florida, Michigan, Texas and Virginia. Northlake has nearly 1.1 million square feet and currently is owned by Bloomfield, Mich.-based Taubman Centers Inc.

 

AG Cooper says Duke should pay for coal-ash removal

June 19, 2014

(The News & Observer, Raleigh)

N.C. Attorney General Roy Cooper told the state Senate that Duke Energy should pay for coal-ash cleanup at 33 sites across North Carolina rather than passing along costs to its customers. Charlotte-based Duke Energy has said it could cost up to $10 billion to move the coal ash to lined landfills.

Documents show Duke Energy warned about drainage pipe in 1986

June 18, 2014

(News & Record, Greensboro)

Engineering reports from 1986 and 1992 show potential problems with a corrugated-metal drainage pipe at Duke Energy's Dan River Steam Station. The reports from the N.C. Utilities Commission were subpoenaed as part of a federal investigation into February's coal-ash spill at the plant. 

Charlotte Chamber CEO reacts to SC projects

June 18, 2014

(The Charlotte Observer)

Charlotte Chamber CEO Bob Morgan says Charlotte remains attractive for business despite Monday's announcements of thousands of jobs moving from the Queen City to nearby York and Chester counties in South Carolina. Three announced projects eventually could bring the Palmetto State up to 7,100 jobs.