Charlotte

South side of downtown Charlotte poised for growth

May 18, 2015

(The Charlotte Observer)

The Stonewall Street corridor in downtown Charlotte, which consists largely of vacant parcels and surface parking lots, is experiencing a construction boom, with hundreds of apartments, hotels and offices planned. 

Family Dollar considered going private in 2007

May 18, 2015

(The Charlotte Observer)

Matthews-based Family Dollar Stores, which is being acquired by Dollar Tree, looked at going private in 2007, the same year rival Dollar General was bought by KKR. The private-equity firm has been credited with improving operations and ultimately turning Dollar General around.

Prosecutors: Duke Energy ignored warnings prior to ash spill

May 15, 2015

(The Charlotte Observer)

Federal prosecutors said Duke Energy twice refused to spend $20,000 on internal video inspections of the 48-inch broken pipe that led to the massive coal-ash spill into the Dan River in February 2014. The Charlotte-based utility was sentenced Thursday and must pay $102 million in fines and for environment projects.

NC Research Campus forms educational partnership with Costa Rica

May 15, 2015

(The Independent Tribune)

Costa Rica and the N.C. Research Campus in Kannapolis will form a collaboration to advance research in food science. The agreement, which involves groups from N.C. State and N.C. A&T State University, will allow Costa Rican scientists to train and perform research at the NCRC.

Coca-Cola Bottling continues expansion

May 14, 2015

(The Charlotte Observer)

Charlotte-based Coca-Cola Bottling Consolidated, the largest U.S. independent Coca-Cola bottler, will expand its franchise territory to new markets in 10 states and the District of Columbia.

BofA shifts real-estate employees to outside firms

May 14, 2015

(The Charlotte Observer)

Bank of America will move several hundred workers from its corporate real-estate group to outside firms CBRE and JLL. The bank said earlier this week that Charlotte-based Lincoln Harris would no longer manage its properties in the Southeast. Los Angeles-based CBRE and Chicago-based JLL will now manage all of BofA's buildings across the U.S. and globally.

Developer outbids Atlanta company for uptown Charlotte land

May 13, 2015

(The Charlotte Observer)

National developer Camden USA offered the city of Charlotte $13.3 million for a 4-acre parcel on Stonewall Street. Atlanta-based apartment developer Pollack Shores had an agreement with the city to purchase the land for $12.2 million. A new upset bid period will end May 26.

Lawmakers seek alternatives to I-77 tolls

May 13, 2015

(The Charlotte Observer)

Lawmakers from the I-77 corridor north of Charlotte are bringing concerns about proposed toll lanes to Gov. Pat McCrory in a last-ditch effort to find alternatives to the plan. The state is about to sign a $650 million contract with a private company to build and operate toll lanes in the 26-mile corridor ("Taking a Toll," April).

Food Lion parent in merger talks

May 12, 2015

(The Charlotte Observer)

Delhaize Group, the Brussels-based parent company of Food Lion, and Netherlands-based Royal Ahold are in preliminary merger talks, according to Belgian newspapers. Ahold operates Stop & Shop grocery stores in the U.S.

Lowe's buying 13 former Target stores in Canada

May 12, 2015

(The Charlotte Observer)

Home-improvement retailer Lowe's will acquire 13 former Target stores and a distribution center in Canada for about $124 million. Target announced in January it was exiting the country after a failed expansion. Mooresville-based Lowe's has 38 stores and about 6,000 employees in Canada.

Bojangles' shares up 25% after stock-market debut

May 11, 2015

(The Charlotte Observer)

Shares of Charlotte-based Bojangles' closed Friday at $23.75, up 25% from its IPO price of $19 a share. CEO Clifton Rutledge said Friday the company plans to expand gradually and won't move too quickly into new markets.

Commercial Credit postpones IPO

May 11, 2015

(The Charlotte Observer)

Charlotte-based lender Commercial Credit Group has postponed its plans to go public, according to IPO adviser Renaissance Capital. Las Vegas-based International Market Centers, which owns the majority of showroom buildings at the High Point Market, also postponed its planned IPO, Renaissance said last week.

Growth up next for Bojangles' after Friday's IPO

May 8, 2015

(The Charlotte Observer)

Bojangles' will sell 7.75 million shares priced at $19 each, according to a securities filing Thursday. Friday's IPO could raise as much as $169 million. The Charlotte-based fast-food chain plans to increase the number of stores by 7 to 8% a year, though it could face challenges in the competitive breakfast segment and in expanding beyond the Carolinas.

Duke CEO faces shareholder questions

May 8, 2015

(The Charlotte Observer)

At Duke Energy's annual meeting in Charlotte on Thursday, CEO Lynn Good fielded questions about coal-ash storage plans and whether the utility would try to recoup a $10 million loan the company made to the Democratic National Convention in 2012.

Bojangles' to offer more shares in IPO

May 7, 2015

(The Charlotte Observer)

Charlotte-based Bojangles' increased the number of shares it will sell in its IPO, expected to be Friday, from 6.25 million to 7.75 million. The fast-food restaurant chain also upped the price range to $18 to $19 per share from $15 to $17.

No large protests expected for Duke Energy's annual meeting

May 7, 2015

(The Charlotte Observer)

Duke Energy shareholders will gather in downtown Charlotte Thursday for the company's annual meeting.

Charlotte office tower sells for $108M

May 6, 2015

(The Charlotte Observer)

A 20-story office tower in downtown Charlotte has sold for nearly $108 million. The 565,000-square-foot building is 83% leased, with Bank of America as its largest tenant. The buyer is a corporation affiliated with Cornerstone Real Estate Advisers.

Charlotte's Duke Energy invests in $3B pipeline

May 6, 2015

(The Charlotte Observer)

Duke Energy will invest about $225 million in a proposed $3 billion natural-gas pipeline that will run through Alabama, Georgia and Florida.

Daimler adding 605 jobs in Gaston County

May 5, 2015

(The Charlotte Observer)

Daimler Trucks North America will add 605 jobs at its Freightliner truck manufacturing plant in Mount Holly. The Portland, Ore.-based company plans to add a third shift by mid-July to meet demand for its medium-duty and severe-duty trucks.

BofA will let shareholders vote on combining CEO, chairman roles

May 5, 2015

(The Charlotte Observer)

Reversing its previous stance, Bank of America will allow shareholders to vote on its decision to combine CEO and chairman roles. The bank decided in October to change its bylaws and give CEO Brian Moynihan the chairman title. A company spokesman said the vote won't occur at this year's annual meeting, scheduled for Wednesday in Charlotte.