Charlotte

NC DOT plans toll lanes for Charlotte's Independence Blvd.

November 17, 2014

(The Charlotte Observer)

The N.C. Department of Transportation plans to add toll lanes to Independence Boulevard as early as 2016. Drivers would use NC Quick Pass, an electronic toll system that incorporates electronic transponders mounted to windshields that is already being used for Wake County's Triangle Expressway.

Duke Energy to store coal ash in clay mines

November 14, 2014

(The Charlotte Observer)

Duke Energy will move nearly 3 million tons of coal ash from its Sutton plant in Wilmington and its Riverbend plant near Charlotte to reclaim clay mines in Chatham and Lee counties. In addition to required synthetic liners placed under the ash, layers of clay in the mines, used by the brick industry, will help keep ash from infiltrating groundwater.

Charlotte's Johnny Harris says keeping airport costs low more important than control

November 14, 2014

(The Charlotte Observer)

Johnny Harris, a prominent Charlotte real-estate developer and member of the Charlotte Airport Commission, said Thursday the matter of who runs Charlotte Douglas International Airport is less important than keeping costs low for its major carrier, American Airlines.

IT consulting firm adding 500 jobs across NC

November 13, 2014

(The Charlotte Observer)

A company that provides IT consulting and business-process services plans to add 500 jobs in North Carolina by the end of 2018, including 150 in Charlotte. The new jobs will pay an average annual salary of $79,559. Teaneck, N.J.-based Cognizant, a Fortune 500 company, could receive a state grant of more than $5 million if it meets job-creation goals.  

BofA fined $250 million over foreign-exchange practices

November 13, 2014

(The Charlotte Observer)

Charlotte-based Bank of America will pay a $250 million civil penalty to resolve a U.S. regulator's claims that it manipulated foreign-exchange rates. New York-based JP Morgan and Citibank were fined $350 million each, and all three banks were ordered to improve oversight of their foreign-exchange trading.

27-acre project planned near Charlotte's SouthPark Mall

November 12, 2014

(The Charlotte Observer)

Charlotte-based Synco Properties and Austin, Texas-based Schlosser Development want to build apartments, a hotel, offices and retail shops on a 27-acre tract at Sharon and Colony roads near SouthPark Mall. If rezoning is approved, the 353-unit Colony Apartments, built in 1972, would be torn down.

Amazon to hire up to 200 in Concord

November 12, 2014

(The Independent Tribune, Concord)

Amazon will open for business next week at Concord Airport Business Park, and the online retail giant will begin hiring 150 to 200 people in January, Concord Mayor Scott Padgett said. Seattle, Wash.-based Amazon will operate a 225,500-square-feet "sortation center" that could eventually employ up to 300.  

German manufacturer investing $23M in Huntersville plant

November 11, 2014

(The Charlotte Observer)

A German valve-maker will build a $23 million plant and add 61 jobs over the next five year in Huntersville. Bürkert Fluid Control Systems will relocate to Huntersville from Charlotte, where it employs 66. Bürkert makes valves, sensors and other products used in water treatment plants, medical equipment and food and beverage processing equipment.

Report shows wealthy investors prefer BofA, Wells Fargo

November 11, 2014

(The Charlotte Observer)

A new report shows a combined 32% of investors with a net worth between $5 million and $25 million prefer Charlotte-based Bank of America and San Francisco-based Wells Fargo as their primary bank. New York-based JPMorgan Chase & Co. came in third.

About 30,000 passengers flew Allegiant in first year at Concord airport

November 10, 2014

(The Independent Tribune, Concord)

Allegiant Airlines will add two weekly flights from Concord to Tampa, Fla., beginning Nov. 15. The low-cost airline has served about 30,000 passengers since it began passenger service at Concord Regional Airport in Dec. 2013. The airport, located about 16 miles northeast of downtown Charlotte, has also seen a 150% increase in commercial operations since 2012.

Can demand keep up with construction in uptown Charlotte?

November 10, 2014

(The Charlotte Observer)

At least a dozen projects are under construction inside the Interstate 277 loop in uptown Charlotte – including 1,400 apartment units – and groundbreakings for at least three offices towers are planned for next year.

DENR tells Duke Energy groundwater plans are insufficient

November 7, 2014

(The Charlotte Observer)

The N.C. Department of Environment and Natural Resources told Duke Energy it's plans for assessing groundwater contamination near coal-ash ponds at 14 power plants are inadequate. The state agency gave the Charlotte-based company 30 days to resubmit revised plans.

CLT hopes to open new parking deck before Thanksgiving

November 7, 2014

(The Charlotte Observer)

The new $120 million, seven-story parking deck at Charlotte Douglas International Airport is expected to open before Thanksgiving, typically the busiest week of the year according to interim aviation director Brent Cagle. The new hourly parking deck will add 4,000 public parking spaces and 3,000 spaces for rental cars.

BofA takes $400 million legal charge

November 7, 2014

(The Charlotte Observer)

Bank of America announced it took a $400 million charge in the third quarter to cover legal costs related to a federal investigation of its foreign-exchange business.

Cannon placed on house arrest after voting

November 7, 2014

(The Charlotte Observer)

Former Charlotte mayor Patrick Cannon will be under house arrest with electronic monitoring until he reports to a West Virginia federal prison on Nov. 18 to serve a 44-month sentence. Cannon, a convicted felon, appeared before U.S. District Judge Frank Whitney on Thursday to explain why he violated the terms of his bond by voting in the recent election. 

Duke Energy: Coal-ash cleanup could cost $3.4 billion

November 6, 2014

(News & Record, Greensboro)

Duke Energy says it could cost $3.4 billion to comply with the the state's new coal-ash law, which requires all 32 ash ponds at 14 active and retired power plants be closed by 2029. The Charlotte-based utility had previously said it could cost up to $10 billion to close the ponds.

Food Lion parent selling discount grocery chain

November 6, 2014

(The Charlotte Observer)

Food Lion parent company Delhaize will sell its 66 Bottom Dollar discount food stores to German discount grocer ALDI. Just last week, Bottom Dollar's president Meg Ham was tapped to replace Beth Newlands Campbell as president of Salisbury-based Food Lion. All 66 Bottom Dollar stores are in the Philadelphia and Pittsburgh areas.

Helicopter-engine manufacturer closing Union County plant

November 6, 2014

(The Charlotte Observer)

Turbomeca will close its helicopter-engine manufacturing plant in Monroe, phasing out 112 jobs over the next year. The French company opened the Union County plant in 2008 and was awarded about $2 million in local incentives and $3 million in state grants. The company said the closure is due to dwindling demand for its products.

Sale of Midwest power plants lifts 3Q profits for Duke Energy

November 6, 2014

(The Charlotte Observer)

Duke Energy's third quarter profits increased 27%, driven by a higher-than-expected sale price of 11 Midwest power plants, though its earnings fell short of analysts' expectations.

Cannon returns to federal court Thursday

November 6, 2014

(The Charlotte Observer)

Former Charlotte mayor and convicted felon Patrick Cannon will return to federal court Thursday to explain why he cast a ballot in this year's election despite losing his voting privileges. Cannon was sentenced on Oct. 14 to 44 months in federal prison on corruption charges. He is scheduled to begin serving his sentence in a West Virginia prison on Nov. 18.