Charlotte

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.

Charlotte financial firm plans IPO

May 4, 2015

(The Charlotte Observer)

Charlotte-based Commercial Credit Group is expected to go public this week. The firm, which provides loans to midsize and family-owned companies, plans to sell 7.3 million shares priced between $15 and $17 per share, according to an SEC filing, and could raise up to $123 million.

Family Dollar sale nears completion

May 4, 2015

(The Charlotte Observer)

Dollar Tree said it expects to complete its $8.5 billion purchase of Matthews-based Family Dollar Stores this month. The Chesapeake, Va.-based discount retailer has said it will keep the Family Dollar name and headquarters, though impact on corporate jobs is unclear. The companies are awaiting approval from the Federal Trade Commission.

Concord's Alevo preps for production

May 4, 2015

(The Independent Tribune, Concord)

Alevo Group expects to be producing batteries within six weeks at the 2.3 million-square-foot former Philip Morris cigarette plant in Concord. Scott Schotter, chief marketing and sustainability officer, says the plant could have as many as 20 assembly lines in five years, depending on market demand for its GridBanks product.

Grubb Properties launches new fund

May 4, 2015

(The Charlotte Observer)

Charlotte-based Grubb Properties launched a new fund, its fifth since 2009, to raise money for acquiring and developing residential and commercial properties in urban areas.

Former Beazer Homes exec sentenced in Charlotte

May 1, 2015

(The Charlotte Observer)

A former Beazer Homes USA executive was sentenced to 10 years in prison for his role in an accounting scheme that led to hundreds of foreclosures in the Charlotte area. Michael Rand was the Atlanta-based homebuilder's former chief accounting officer.

Food Lion revenue increases amid store makeovers

May 1, 2015

(The Charlotte Observer)

Delhaize, the Brussels-based parent company of Salisbury-based Food Lion, said first quarter sales at its U.S. stores increased 3.2% to $4.4 billion compared with the same period last year. CEO Frans Muller said the company was encouraged by results at recently renovated Food Lion stores.

Bojangles' IPO expected next week

April 30, 2015

(The Charlotte Observer)

Bojangles' is expected to make its stock-market debut next week, according to Renaissance Capital, an IPO-focused research and management firm. The Charlotte-based restaurant chain said this week it plans to sell 6.2 million shares priced between $15 and $17 each. The IPO could raise about $122 million.

Report: SEC probing Bank of America trades

April 29, 2015

(The Charlotte Observer)

The Securities and Exchange Commission is investigating a group of complex trades to determine whether Bank of America broke client-protection rules in order to boost profits, according to a report in The Wall Street Journal.

Charlotte restaurant chain sold for $21M

April 29, 2015

(The Charlotte Observer)

Colorado-based Good Times Restaurants will acquire Bad Daddy's Burger Bar for $21 million, according to Bad Daddy's co-founder Frank Scibelli. Good Times already owns a 48% stake in the restaurant chain. Founded in 2007, Bad Daddy's has locations in four states, including four in Charlotte and two in the Triangle.

Bojangles' to price shares between $15 and $17

April 28, 2015

(The Charlotte Observer)

Bojangles' will offer about 6.25 million shares priced between $15 and $17 each in its initial public offering. The Charlotte-based restaurant chain operates 622 stores in 10 states and the District of Columbia with plans to expand in the Southeast.

CHS strikes deal with UnitedHealthcare

April 28, 2015

(The Charlotte Observer)

Carolinas HealthCare System has reached a deal with UnitedHealthcare that will allow Charlotte-area patients covered under the health-insurance provider to continue receiving care at CHS. The companies' contract expired on Feb. 28 after negotiations to renew it failed. United HealthCare insures more than 1 million people in N.C.

Duke Energy offers water to families near contaminated wells

April 28, 2015

(The Salisbury Post)

Duke Energy has offered bottled drinking water to 32 families near the Buck Steam Station in Rowan County after test results showed a high level of contaminants in private well water. The Charlotte-based company has said it isn't responsible for the contaminants, which it says are naturally occurring.

Charlotte real-estate pros say condos could make a comeback

April 27, 2015

(The Charlotte Observer)

Developers say some high-end apartments under construction in the Charlotte area could eventually be converted to condominiums. Many condominium projects were converted to rental units during the recession, and obtaining financing for condo projects remains difficult.

California company bringing 250 jobs to Union County

April 24, 2015

(The Charlotte Observer)

O'Neil Digital Solutions will invest $140 million in a printing and data center operation in Monroe. The Los Angeles-based company plans to create 250 jobs with an average annual salary of $58,819. O'Neil will receive more than $5 million in state and local incentives.

Groups urge BofA shareholders to vote against directors

April 24, 2015

(The Charlotte Observer)

Two shareholder-advisory groups are recommending Bank of America stockholders vote against certain directors to show disapproval of a bylaw change that will allow CEO Brian Moynihan to become chairman. The company's annual meeting will be held on May 6 in Charlotte.

CEO of Extended Stay America earned 32% less in 2014

April 23, 2015

(The Charlotte Observer)

Jim Donald, CEO of Charlotte-based Extended Stay America, earned nearly 32% less in 2014 compared with 2013. Donald joined the company in 2012, the year before it went public ("The Suitcase CEO." August). Shares closed Wednesday at $20.17, slightly above the $20 price when the company went public.

Cato CEO earned 57% more in 2014

April 23, 2015

(The Charlotte Observer)

John Cato, president and CEO of Charlotte-based retailer Cato, earned $4.57 million in 2014, compared with $2.92 million in 2013. The company said earlier this year its annual earnings for 2014 were the third highest in Cato's history.

Union County could land $140M printing and data center, 250 jobs

April 22, 2015

(The Charlotte Observer)

Union County commissioners approved incentives for an unidentified California-based company to build a $140 million printing operation and data center that would add 250 jobs with an average annual salary of $60,000. The company is also considering two South Carolina locations, a local official said.