Charlotte

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.

CMS superintendent resigned amid allegations of misconduct

November 5, 2014

(The Charlotte Observer)

Charlotte-Mecklenburg Schools Superintendent Heath Morrison resigned just two days after the completion of an investigation into allegations of misconduct, including bullying staff members, and cost overruns at new schools.

Snyder's-Lance increases investment in organic snack-maker

November 5, 2014

(The Charlotte Observer)

As part of an effort to expand its product offerings of healthier snacks, Charlotte-based Snyder's-Lance increased its stake in Late July Snacks – an organic snack company based in Boston – from 19% to 80%. 

Cannon in trouble again after voting in midterm election

November 5, 2014

(The Charlotte Observer)

Former Charlotte mayor Patrick Cannon could go to prison sooner than expected after violating his bond by casting a ballot during the early voting period. Cannon lost his voting eligibility when he pleaded guilty to and was later convicted on corruption charges. He is expected to begin serving a 44-month prison sentence later this month.

 

Morrison resigns as CMS superintendent

November 4, 2014

(The Charlotte Observer)

Heath Morrison resigned as superintendent of Charlotte-Mecklenburg Schools to spend more time with his family, particularly with his mother who lives in Williamsburg, Va. He did not give specifics regarding his mother's condition. Morrison came to CMS in July 2012. Deputy Superintendent Ann Clark will take over the position in the interim role. 

Hickory's Corning Optical considers headquarters move

November 3, 2014

(Hickory Daily Record)

Corning Optical Communications is starting a 24-month analysis that could result in the fiber-optics company moving its headquarters out of Hickory. A division of Corning Inc., the company is Catawba County's eighth largest employer with more than 1,000 employees, according to the Catawba County Economic Development Corp. The company declined to release employment figures. 

Dollar General extends Family Dollar offer until Dec. 31

November 3, 2014

(The Charlotte Observer)

Dollar General has extended its $80 per share all-cash takeover bid of Matthews-based Family Dollar Stores until Dec. 31. Family Dollar shareholders are scheduled to vote Dec. 11 on a deal in which Chesapeake, Va.-based Dollar Tree would acquire the discount retailer for $74.50 a share in cash and stock.

Hickory's Frye Regional expanding emergency department

November 3, 2014

(Hickory Daily Record)

Frye Regional Medical Center in downtown Hickory will increase the number of emergency room beds from 18 to 32 as part of a $9.5 million expansion that also includes technology upgrades. About 40,000 patients a year are treated at the ER, which was designed to treat 25,000 a year, according to the hospital's director of emergency services. The expansion is expected to be completed by early 2017.