Charlotte

Food Lion parent cutting jobs overseas

June 16, 2014

(The Salisbury Post)

Delhaize Group may cut up to 2,500 jobs in Belgium, where the parent company of Salisbury-based Food Lion operates 147 stores, to reduce costs. Food Lion and Delhaize America would not be affected by the cuts. 

Former CertusBank execs want a jury trial

June 16, 2014

(The Charlotte Observer)

Three co-founders of Greenville, S.C.-based CertusBank who filed a lawsuit over their firings in April want a jury trial, where they can defend their reputations in a public forum. CertusBank was started in Charlotte by former Bank of America and Wachovia executives.

Charlotte's Pamlico Capital to buy South Dakota broadband networks

June 13, 2014

(The Charlotte Observer)

Charlotte-based private equity firm Pamlico Capital will pay $262 million to buy broadband networks in South Dakota from Englewood, Colo.-based Wow Internet, Cable and Phone. 

Charlotte buses to add routes for airport travelers

June 13, 2014

(The Charlotte Observer)

Charlotte's transit system will add two new bus routes next week to shuttle people from terminals at Charlotte Douglas International Airport to remote park-and-ride lots. The shuttles will help the airport deal with congestion this summer while new hourly parking decks are under construction.

Rod Higgins out as head of basketball ops at Charlotte Hornets

June 13, 2014

(The Charlotte Observer)

The Charlotte Hornets announced that Rod Higgins has stepped down as president of basketball operations just two weeks before the NBA draft.

BofA, Justice Department deadlocked over mortgage settlement

June 12, 2014

(The Charlotte Observer)

Negotiations to resolve investigations into Bank of America's role in the mortgage crisis have stalled. The Charlotte-based bank had offered to pay a settlement of more than $12 billion, which was less than the $17 billion the Justice Department had sought. The United States is said to be preparing a civil complaint against the bank.

Group says Duke doesn't need to increase rates to pay for coal-ash cleanup

June 11, 2014

(WRAL.com)

A Cleveland, Ohio-based nonprofit research group said Duke Energy can afford to clean up coal-ash ponds across North Carolina without increasing rates for customers. The Charlotte-based utility has estimated the cleanup could cost between $2 billion and $10 billion.

Carolinas HealthCare CEO warns of further cuts in healthcare industry

June 11, 2014

(The Charlotte Observer)

The CEO of Carolinas HealthCare System said Tuesday that the N.C. Senate's proposed cuts to Medicaid will jeopardize the financial health of hospitals. Michael Tarwater cited recent job cuts at hospitals across the state, including at High Point Regional and Wake Forest Baptist Medical Center.

Family Dollar adopts poison pill to delay potential takeover

June 10, 2014

(The Charlotte Observer)

In response to investor Carl Icahn's announcement that he has bought 9.4% of Family Dollar's stock, the Matthews-based company has added a "poison pill" provision that will kick in if any investor buys more than 10% of its stock. The poison pill would trigger the issuance of new stock, making shares less valuable. 

Wells Fargo now top SBA lender in NC

June 10, 2014

(The Charlotte Observer)

Wells Fargo has become the top SBA lender in North Carolina, approving 94 SBA loans between Oct. 1 and May 31, an increase of 21% over the same period for the previous fiscal year. Winston-Salem-based BB&T has approved 27 SBA loans during the same period.

Allegiant to double number of flights from Concord

June 10, 2014

(The Charlotte Observer)

Low-cost airline Allegiant Air will increase the number of flights from Concord to Orlando from two to four times a week beginning Nov. 2. The Las Vegas-based carrier became the regional airport's first commercial carrier in December.

Duke Energy signs agreement with states to pay for coal-ash cleanup

June 10, 2014

(The News & Observer, Raleigh)

Duke Energy signed an agreement with environmental officials from North Carolina and Virginia Monday to pay for cost associated with the cleanup of February's coal-ash spill in the Dan River. A federal criminal investigation, launched in the wake of the spill into relationships between Duke officials and state regulators, has not yet been resolved.

Icahn buys 9.4% stake in Family Dollar

June 9, 2014

(The Charlotte Observer)

Investor Carl Icahn has purchased a 9.4% stake in Matthews-based Family Dollar. In a securities filing, Icahn said he possibly will seek a seat on the board of directors or "explore strategic alternatives" for the company. The discount retailer laid off 135 workers at its headquarters in April and announced plans to close 370 stores.

BofA negotiating $12 billion settlement over mortgage probes

June 9, 2014

(The Charlotte Observer)

Bank of America is in the early stages of negotiating a settlement of at least $12 billion over federal and state investigations of its mortgage-banking practices that preceded the 2008 financial crisis.

Piedmont Natural Gas reports growth in revenue, profits

June 9, 2014

(The Charlotte Observer)

Piedmont Natural Gas reported second quarter profits of $63 million and revenue of $462 million, 16% higher than the same period a year ago. An increase in new residential construction led to 22% growth in new customers.

South Korean tool manufacturer creating 53 jobs in Charlotte

June 6, 2014

(The Charlotte Observer)

A South Korean tool manufacturer will invest $13.8 million and create 53 advanced manufacturing and engineering jobs in a Charlotte plant. YG-1 USA will make cutting tools for aerospace, medical and power generation industries. The Charlotte operation also will serve as a research and development hub for the company.

Moody's affirms Charlotte Douglas bond rating

June 6, 2014

(The Charlotte Observer)

Moody's affirmed Charlotte Douglas International Airport's bond rating and said its outlook is stable, citing its low cost per passenger. The credit rating agency said risks include American Airlines' heavy concentration of flights and ongoing confusion over who will run the airport. 

BofA's Merrill Lynch fined $1M over inaccurate trade reports

June 5, 2014

(The Charlotte Observer)

A federal regulator fined Merrill Lynch $1 million Wednesday over allegations it reported inaccurate data about trades. The Financial Industry Regulatory Authority said Merrill, a division of Charlotte-based Bank of America, submitted 5,323 inaccurate "blue sheets" to regulators between March 2006 and January 2014. 

Charlotte's Mike McGuire to lead Grant Thornton

June 5, 2014

(The Charlotte Observer)

Charlotte's Mike McGuire will become chief executive of Chicago-based Grant Thornton in January. McGuire became natonal managing partner of operations for Grant Thornton last summer. He previously was a partner in Arthur Andersen's Charlotte practice.

Clancy & Theys chosen for DataChambers project

June 5, 2014

(The Independent Tribune, Concord)

Clancy & Theys Construction Co. was selected as general contractor for DataChambers' 50,000-square foot data center at North Carolina Research Campus in Kannapolis. Construction is expected to be completed by late 2014. DataChambers currently operates data centers in Raleigh and Winston-Salem. Clancy & Theys has offices in Charlotte, Raleigh, Wilmington, Virginia and Florida.