Charlotte

Charlotte airport seeks to expand, add 4th runway

February 5, 2015

(The Charlotte Observer)

Charlotte Douglas International Airport wants to build a fourth runway at a cost of $92.5 million and increase the number of gates from 93 to 164. The airport will present expansion plans to the Charlotte City Council on Monday.

Carolinas HealthCare CEO earned $5.3M in 2014

February 5, 2015

(The Charlotte Observer)

Carolinas HealthCare System CEO Michael Tarwater received $5.3 million in 2014, a 7.7% increase over the previous year. Each of the Charlotte-based health system's top 10 executives received more than $1 million in total compensation last year. The system operates or manages more than 40 hospitals in three states.

11-acre mixed-use project proposed for Charlotte's Providence Road

February 5, 2015

(The Charlotte Observer)

Two Charlotte real-estate firms filed a rezoning request for an 11-acre mixed-use project at Providence and Fairview roads. Levine Properties and Raley Miller Properties are seeking to build a development with up to 225 apartments and 100,000 square feet of retail and dining space. The development would replace the 40-year-old Carmel on Providence apartment complex.

Barksdale named CEO of Carolina Premier Bank

February 4, 2015

(The Charlotte Observer)

Charlotte-based Carolina Premier Bank named David Barksdale – previously chief strategy officer for Greensboro-based NewBridge Bank – president and CEO. He replaces John Kreighbaum, who announced his resignation as head of the community bank in August.

Cannon indicted on voter fraud

February 4, 2015

(The Charlotte Observer)

Former Charlotte Mayor Patrick Cannon was indicted this week on a charge related to an illegal vote he cast at an early voting site in last year's election. Cannon is serving a 44-month sentence at a West Virginia federal prison for a accepting bribes from FBI undercover agents.

Durham-based Dilweg buys Charlotte office tower for $25.3M

February 3, 2015

(The Charlotte Observer)

Durham-based The Dilweg Companies paid $25.3 million for the 17-story Johnston Building in downtown Charlotte. The 172,000-square-foot building was Charlotte's tallest building when it opened in 1924. Dilweg, which acquired the 32-story 121 West Trade in 2013, now owns 850,000 square feet of office space in Charlotte.

Charlotte-based Jeffrey Brown named CEO of Ally Financial

February 3, 2015

(The Charlotte Observer)

Detroit-based lender Ally Financial named Charlotte-based Jeffrey Brown CEO. Brown will replace Michael Carpenter, who is retiring. Brown, 41, was most recently president and CEO of Ally's automotive financial-services business.

Charlotte's Pepsi bottling site marketed for redevelopment

February 3, 2015

(The Charlotte Observer)

Cushman & Wakefield Thalhimer is marketing a Pepsi bottling complex as a mixed-use site that could include retail, office and residential. It's one of the last parcels along the Blue Line light rail route in Charlotte's South End that hasn't been redeveloped. 

Statesville approves incentives for Highland Industries

February 2, 2015

(The Charlotte Observer)

Statesville City Council approved $70,000 in economic-development incentives for Highland Industries, which plans to create at least 26 jobs over three years. The company, which makes textiles for the automotive and aerospace industries, will invest $7.4 million in equipment and renovations in a 62,000-square-foot spec building in the city's business park. 

Dollar General formally ends bid to buy Family Dollar

February 2, 2015

(The Charlotte Observer)

A week after shareholders approved Family Dollar Stores' plan to be acquired by Dollar Tree, Dollar General formally ended its takeover bid for the Matthews-based retailer.

Alevo names former Duke Energy exec director of sales

February 2, 2015

(The Independent Tribune, Concord)

Alevo Group hired Jeff Gates as director of sales and field operations. Gates worked for 14 years at Charlotte-based Duke Energy, where he specialized in energy storage for the past six years and was involved in the development of a $44 million storage system at a Texas wind farm. Last year, Alevo acquired the former Philip Morris plant in Concord for $68 million and plans to hire 2,500 workers within three years (Statewide, December 2014).

 

Loss of business tax squeezes Charlotte's budget

February 2, 2015

(The Charlotte Observer)

The state General Assembly's repeal of the Business Privilege License tax will cost Charlotte $18.1 million in revenue for the year ahead, while the city faces a $16 million budget shortfall. Charlotte City Council said it won't raise property taxes for 2015, but it could suspend pay raises for city employees.

CommunityOne eyes acquisitions

January 30, 2015

(The Charlotte Observer)

After posting five profitable quarters in a row, Charlotte-based CommunityOne Bank is looking to acquire or merge with other lenders. The bank, formed in 2013 after merging with Bank of Granite, plans to close six branches this year in a cost-cutting effort.

Five defendants sentenced in Operation Wax House

January 30, 2015

(The Charlotte Observer)

Five defendants were sentenced for their role in the Operation Wax House mortgage-fraud case in south Charlotte and Waxhaw. According to the United States Attorney's Office of the Western District of N.C., 89 people have pleaded guilty or have been convicted since the investigation began in 2007. 

Family Dollar CEO selling company shares

January 30, 2015

(The Charlotte Observer)

The CEO of Family Dollar Stores plans to divest 1 million to 2 million shares of the Matthews-based company's stock over the next 10 days. Howard Levine currently owns about 7.8% of the company's outstanding stock and is its largest individual shareholder.

NASCAR Hall sponsorships drop to $110,000

January 29, 2015

(The Charlotte Observer)

Sponsorship revenue at the NASCAR Hall of Fame in Charlotte has dropped from $1.5 million in 2012 to $110,000 for the fiscal year beginning in July, which could help explain why Bank of America and Wells Fargo agreed to write off $17.6 million in debt and accrued interest from a museum loan.

Rite Aid moving 350 jobs from Charlotte to SC

January 29, 2015

(The Charlotte Observer)

Rite Aid will close its Charlotte distribution center and consolidate operations in a $90 million center it is building in Spartanburg, S.C. Affected workers can apply for jobs at local Rite Aid stores or at the new South Carolina location, which is expected to open by March 2016.

Other Mecklenburg towns want Google Fiber

January 29, 2015

(The Charlotte Observer)

Mecklenburg County residents outside of Charlotte − including in Huntersville and Mint Hill − want Google to bring its ultrafast Internet network to their towns as well. About 200,000 of the county's nearly 1 million residents live outside of the city limits.

Hickory-based CommScope buying TE Connectivity units

January 28, 2015

(Winston-Salem Journal)

CommScope Holding will pay about $3 billion for TE Connectivity's telecommunications, enterprise and wireless businesses. The deal, expected to close by year-end, will allow the Hickory-based company to expand its geographic footprint.

Hedge fund sells Family Dollar shares

January 28, 2015

(The Charlotte Observer)

Trian Fund Management sold about 6 million shares of Matthews-based Family Dollar Stores, reducing its ownership stake from 8% to about 2%, according to a securities filing Tuesday. A separate SEC filing showed that 89% of the discount retailer's shares who voted approved its pending $8.5 billion sale to Chesapeake, Va.-based Dollar Tree.