Charlotte

Ecolab lays off 60 at Charlotte Swisher office

March 24, 2016

(The Charlotte Observer)

Ecolab, which bought assets of Charlotte-based Swisher in November, plans to close the company's SouthPark office, affecting 60 workers. The company provides janitorial and cleaning-supply services.

Charlotte could bid again on hosting X Games

March 23, 2016

(The Charlotte Observer)

Officials at Charlotte Motor Speedway say they have had preliminary discussions with ESPN about hosting the summer X Games in 2017 and 2018. The network is seeking bids from interested cities after ending its agreement with Austin, Texas a year earlier than expected. Last year's X Games, which features skateboarding, motocross and other "extreme" sports, had an economic impact of $102.3 million in Austin.

Ally Financial to expand board with new independent director

March 22, 2016

(The Charlotte Observer)

Ally Financial will consult with shareholder Lion Point Capital to select a new independent director, expanding its board to 12 members. The hedge fund tangled with Ally in December when Lion Point pressed the company to form a committee to study strategic alternatives, which Ally said was an attempt to force a sale of the company. Detroit-based Ally's CEO Jeffrey Brown is based in Charlotte, where the company employs about 800 people.

Charlotte approves mixed-use project across from SouthPark mall

March 22, 2016

(The Charlotte Observer)

Childress Klein will develop the property, which will include up to 490 apartments, a 175-room hotel, offices, shops and a 750-seat building that will be the new home of Sharon United Methodist Church. The existing church will be demolished to make way for the mixed-use project.

PayPal bringing 400 jobs to Charlotte

March 21, 2016

(The Charlotte Observer)

PayPal will open a new operations center in the University City area of Charlotte, creating 400 jobs with an average annual salary of nearly $50,929. The San Jose, Calif.-based payment processor could receive up to $3.7 million in state incentives.

Charlotte's EnPro Industries agrees to $480M settlement in asbestos case

March 21, 2016

(The Charlotte Observer)

Diversified manufacturer EnPro Industries will create a $480 million trust that will cover current and future asbestos claims against two of its subsidiaries, Garlock Sealing Technologies and Coltec. Based in Charlotte since 1999, EnPro was spun out of Goodrich in 2002. The company had $1.2 billion in sales in 2015.

Duke to produce energy from swine, poultry waste

March 21, 2016

(The Charlotte Observer)

Four of Duke Energy's natural-gas plants in North Carolina will produce electricity from biogas made from swine and poultry waste. The Charlotte-based utility signed an agreement to buy enough of the methane gas, produced by Boulder, Colo.-based Carbon Cycle Energy, to power about 10,000 homes a year.

Corporate sales robust for 2017 PGA Championship in Charlotte

March 18, 2016

(The Charlotte Observer)

PGA officials are considering expanding corporate hospitality offerings for the 2017 PGA Championship, which will be held at Quail Hollow Club in Charlotte, even though the event is still more than a year away. "That's almost unheard of at this point," said tournament director Jason Mengel.

BofA director Gifford to retire

March 18, 2016

(The Charlotte Observer)

In a proxy filing Thursday, Bank of America said that Chad Gifford, a director at the Charlotte-based bank since 2004, will retire. The bank has nominated Thomas Woods to replace Gifford. Woods is a former executive at Toronto-based Canadian Imperial Bank of Commerce.
Related: Moynihan defends Bank of America size

Concord energy-storage company lands first big order

March 18, 2016

(The Charlotte Observer)

Alevo said Thursday it has received an order for an 8-megawatt energy-storage system from a Delaware utility. Alevo's production plant is located at the site of the former Philip Morris USA cigarette factory in Concord.

State approves Center Point-Cardinal merger

March 18, 2016

(Winston-Salem Journal)

N.C. Health Secretary Rick Brajer said Thursday the merger is part of a strategy to reduce the number of behavioral-health managed care organizations to four from eight. Kannapolis-based Cardinal Innovations Healthcare Services is the state's largest behavioral-health MCO, providing care for 2.4 million N.C. residents. Some administrative positions at Winston-Salem-based CenterPoint could be eliminated after the merger.

Developer scraps plans for downtown Charlotte condo tower

March 17, 2016

(The Charlotte Observer)

A planned condo tower in downtown Charlotte was canceled and the developer will consider other uses for the property. Boston-based RTG Holdings and Gunn Financial said not enough units pre-sold to get the project off the ground.

Hornets line up sponsors for next year's NBA All-Star game

March 17, 2016

(The Charlotte Observer)

The Charlotte Hornets have signed 15 sponsors for next year's NBA All-Star weekend. Most are local companies, including Bank of America, CPI Security, Lowe's and Babson Capital Management. The event will be held the weekend of Feb. 17 and is expected to generate about $100 million.

Meanwhile, Raleigh expects $5 million in visitor spending this week as it hosts opening rounds of the NCAA Basketball Tournament.

Duke Energy promotes Repko to chief fossil/hydro post

March 17, 2016

(The Charlotte Observer)

Senior Vice President Regis Repko will lead Duke Energy's unit that oversees fossil-fueled and hydroelectric power plants in six states. Repko, a nuclear engineer, has worked for the utility since 1985. He replaces Charlie Gates, who is retiring.

Former Charlotte mayor pleads guilty in voter fraud case

March 17, 2016

(The Charlotte Observer)

Former Charlotte Mayor Patrick Cannon pleaded guilty Wednsesday to a misdemeanor charge of attempted voter fraud. Cannon voted early in the November 2014 election two months after he was sentenced to prison for accepting bribes from undercover FBI agents.

Nucor lowers first-quarter guidance

March 16, 2016

(The Charlotte Observer)

The Charlotte-bases steelmaker said Tuesday it expects earnings between 20 cents and 25 cents per share, lower than 28 cents analysts projected. The company said demand for its auto products remains strong, while energy, heavy equipment and agricultural markets are weak.

Jones to lead Cabarrus Chamber

March 15, 2016

(The Independent Tribune)

Following a national search, Barbi Jones was named executive director of the Cabarrus Regional Chamber of Commerce. Jones currently works as communications and engagement officer at the Charlotte regional office of the United Way of Central Carolinas. She replaces Patrick Coughlin, who was ousted after two years in the position.

Charlotte apartment boom not slowing down

March 15, 2016

(The Charlotte Observer)

Apartment vacancy rates are lower than a year ago — 6.2% compared with 6.7% — and rents are up, with the average Charlotte apartment costing $1,011 a month, compared with $938 a year ago. The number of units under construction also increased during the last six months, according to a binannual report from Charlotte-based RealData.

BofA paid Clintons more than $1M for speeches

March 14, 2016

(The Charlotte Observer)

Bank of America paid Bill and Hillary Clinton about $1.1 million to speak at four private events between 2011 and 2014. The bank said it's not unusual for it to pay former elected or appointed officials to speak at private gatherings, which are usually held for clients or senior execs.
More BofA news: Bank of America consumer exec relocates to San Francisco from Charlotte

Officials celebrate 'topping out' at Mint Museum tower in downtown Charlotte

March 14, 2016

(The Charlotte Observer)

A 43-story apartment tower built atop the Mint Museum in downtown Charlotte reached its highest point this week. Developer Childress Klein says the 394-unit building will open this fall, with construction wrapping up in late November. It's downtown's tallest new residential tower since the Vue opened in 2010.