Charlotte

French design group to open Charlotte office

June 4, 2014

(The Charlotte Observer)

Team Créatif will open its U.S. headquarters in Charlotte and plans to hire 40 people over the next three years. Team Créatif is the largest privately owned design firm in France. Its clients include Mars Inc., Dannon and Pedigree.

Cannon pleads guilty

June 4, 2014

(The Charlotte Observer)

Former Charlotte Mayor Patrick Cannon apologized to the community and pleaded guilty of a federal charge of accepting bribes including cash and airline tickets in exchange for his influence over city officials. Meanwhile, federal investigators say the case is not closed, and they are still following leads to see if the corruption goes deeper in the Charlotte's government.

Cannon expected to plead guilty to corruption charge

June 3, 2014

(The Charlotte Observer)

Former Charlotte Mayor Patrick Cannon is expected to plead guilty this morning to a federal corruption charge. Cannon was arrested by the FBI on March 26 for taking bribes including cash and airline tickets in exchange for influencing local officials. Cannon faces a maximum of 20 years in prison and a $250,000 fine.

Pair of York County, SC projects could bring 5,000 jobs

June 2, 2014

(The Charlotte Observer)

York County, S.C. has two large-scale economic development projects in the works that could produce 5,000 jobs and bring in investment of more than $200 million. City Council Chairman Britt Blackwell says he hopes the county, located southwest of Charlotte, will have an announcement in four to six weeks. 

SunTrust names Hondros head of wealth-management division

June 2, 2014

(The Charlotte Observer)

SunTrust Banks promoted John Hondros to managing director of its Charlotte and Daytona Beach, Fla. specialty wealth-management offices. The Atlanta-based bank's Sports and Entertainment Specialty Group serves athletes and entertainers. Hondros was most recently a client adviser and senior vice-president for SunTrust in Charlotte.

Construction begins on SouthPark office buildings

May 30, 2014

(The Charlotte Observer)

Charlotte real-estate firm Lincoln Harris has begun construction on two 10-story office towers in Charlotte's SouthPark neighborhood. The first 240,000-square-foot tower will be completed in late 2015. An anchor tenant has not been named.

First Tennessee Bank buying 13 BofA branches

May 30, 2014

(Winston-Salem Journal)

Memphis-based First Tennessee Bank says it will acquire 13 branches from Charlotte-based Bank of America for an undisclosed amount. All of the branches are in east and middle Tennessee.

Former Wachovia CEO to lead NY investment group

May 29, 2014

(The Charlotte Observer)

Bob Steel will become chief executive officer of New York-based investment bank Perella Weinberg Partners beginning July 7. Steel became CEO of Wachovia in July 2008 and most recently has been deputy mayor for economic development of New York City.

Belk reports lower profits in first quarter

May 29, 2014

(The Charlotte Observer)

Sales remained flat and profits fell in the first quarter for Charlotte-based Belk Inc., the department-store chain announced on Wednesday. Belk's expenses were greater due to investments in store remodels and the company's website.

Charlotte Douglas to allow cab companies to rebid on contracts

May 28, 2014

(The Charlotte Observer)

Charlotte Douglas International Airport will accept proposals from taxi companies for contracts that will begin next year. Interim Aviation Director Brent Cagle extended contracts for the three cab companies currently operating there for one more year. The FBI is investigating the taxi contracts after allegations of a pay-to-play scheme surfaced when former Mayor Patrick Cannon was arrested on federal corruption charges. 

Kings Mountain leader writes 76-page manifesto against casino

May 28, 2014

(The Shelby Star)

Kings Mountain City Councilman Keith Miller wrote in a 76-page document that a proposed casino and resort could have a negative effect on churches in the area and the city's spiritual health. Miller is the only council member who has spoken out against the Catawba Indian Nation casino, which could bring up to 4,000 jobs to Cleveland County if built.

Bank of America submits new capital plan

May 28, 2014

(The Charlotte Observer)

Bank of America has submitted a new capital plan to the Federal Reserve a month after an internal review found the bank had overstated its capital by about $4 billion. BofA had planned a quarterly dividend increase before it recognized the mistake; that plan was suspended and the bank says its new capital plan will return less money to shareholders. 

Eaton to close Charlotte plant, cut 90 jobs

May 28, 2014

(The Charlotte Observer)

Eaton Corp. will close a manufacturing plant in Charlotte and will lay off 90 workers by year-end. The Irish company is moving the jobs to plants in Auburn, Ind., and Mexico. The Charlotte plant manufactures commercial vehicle clutches.

Report: BofA hired to sell LA Clippers

May 28, 2014

(The Charlotte Observer)

Bloomberg News reports that Bank of America has been hired by Donald Sterling's estranged wife Shelly to sell the Los Angleles Clippers. Donald Sterling was banned from the National Basketball Association for making rascist comments. A person with direct knowledge of the situation said last week that Shelly Sterling wants at least $1 billion for the team.

Gastonia developer seeks film incentives for mill renovation

May 27, 2014

(The Charlotte Observer)

State officials are auditing receipts from a Gastonia real estate developer's film project that is claiming $1.1 million in state film incentives. Nathan Kirby spent more than $4 million to renovate an old hosiery mill in downtown Gastonia, and claims the construction costs were related to the filming of a reality TV show that demonstrated Kirby's work rehabbing old buildings. 

Charlotte Douglas to add new concourse in 2015

May 23, 2014

(The Charlotte Observer)

Charlotte Douglas International Airport will begin building a new concourse next spring, once its new parking decks are completed and space currently occupied by rental cars is freed up. The new concourse will have eight to 12 domestic gates to meet demand for national flights.

Manufacturer expanding in Statesville

May 23, 2014

(Winston-Salem Journal)

HIghland Industries will add a new division at its Statesville plant, adding 29 jobs and investing $8.25 million over three years. The company makes technical fabrics for product used in various industries, including automotive seats, tires and roofing. 

EPA reaches agreement with Duke Energy over coal-ash cleanup

May 23, 2014

(The News & Observer, Raleigh)

The Environmental Protection Agency finalized a deal with Duke Energy regarding coal-ash cleanup in the Dan River. The EPA will oversee cleanup performed by the utility, and Duke will reimburse the federal government for oversight costs as well as costs incurred in the emergency response immediately after the spill.

Duke shareholders sue company over coal-ash management

May 23, 2014

(The Charlotte Observer)

Two shareholders filed a lawsuit against Duke Energy claiming company leaders knew about coal-ash contamination for years and breached their fiduciary duty by exposing the company to billions of dollars in potential liability.

Chiquita CEO: No consensus on incentives repayment

May 23, 2014

(The Charlotte Observer)

Chiquita Brands International CEO Ed Lonergan said the company has been in talks with local and state officials about whether or not it should have to return incentive money now that the company's headquarters is moving to Ireland. The company was awarded more than $22 million, which is to be paid over the next 11 years, to maintain its global headquarters in Charlotte and keep 375 jobs there.