Charlotte

'Hustle' hands BofA $1.3 billion in civil penalities

July 31, 2014

(Charlotte Observer)

A federal judge ordered Charlotte-based Bank of America to pay $1.3 billion after a jury said its Countrywide unit knowingly sold bad home loans to Fannie and Freddie.

Icahn dumps more Family Dollar stock

July 31, 2014

(Charlotte Observer)

Carl Icahn owns just 3.6% of Family Dollar's stock, down from more than 9% on Monday, when the company announced it will be acquired by Dollar General.

Indian drugmaker to open Monroe plant

July 31, 2014

(Charlotte Observer)

Glenmark Pharmaceuticals will invest $17 million and hire 41 over three years at its first North American manufacturing plant, which will make generic drugs.

Family Dollar CEO expects jobs to stay in Charlotte

July 31, 2014

(Charlotte Observer)

After Family Dollar Stores is acquired by Dollar Tree, Family Dollar CEO Howard Levine maintains the combined company will keep a large presence in Matthews.

Icahn dumps part of Family Dollar stake

July 30, 2014

(Charlotte Observer)
Activist investor Carl Icahn sold more than one-third of his stock in discount retailer Family Dollar, according to securities filings.


Read more here: http://www.charlotteobserver.com/2014/07/29/5074565/icahn-unloads-more-than-13-of.html#storylink=cpy

 

Charlotte home prices gain almost 5% in a year

July 30, 2014

(Charlotte Observer)

Charlotte-area home prices rose 4.7 percent in May from a year ago , while price gains rose at a slower pace nationwide, Standard & Poor’s/Case-Shiller report showed Tuesday.


Read more here: http://www.charlotteobserver.com/2014/07/29/5073396/charlotte-area-home-prices-up.html#.U9hWY8e7lhA#storylink=cpy

 

Charlotte investor Nelson joins UNC board

July 30, 2014

(Charlotte Observer)

Charlotte investor Anna Spangler Nelson, daughter of former UNC System President C.D. Spangler Jr., was elected to the system's board of governors.

For Family Dollar, the drama is done

July 29, 2014

(The Charlotte Observer)

The sale of Family Dollar Stores to Dollar Tree for more than $8 billion ends four years of activist-investor-led drama for the Matthews-based discount retailer.

Dollar Tree to acquire Family Dollar for $8.5 billion

July 28, 2014

(The Charlotte Observer)

Matthews-based Family Dollar Stores will be bought by Chesapeake, Va.-based Dollar Tree, the companies announced Monday morning. Dollar Tree will pay $8.5 billion in the cash-and-stock deal — $74.50 a share, a 22.8% premium over Family Dollar's Friday closing price.

New Charlotte mall reflects changing retail trends

July 28, 2014

(The Charlotte Observer)

Charlotte Premium Outlets, which will become the first mall to open in the Charlotte region in a decade when it debuts on Thursday, reflects retail consumers' preference for bargains.

Man pleads guilty in Charlotte Ponzi scheme case

July 25, 2014

(The Charlotte Observer)

Claude Darrell McDougal, 55, pleaded guilty to securities fraud and faces up to 20 years in prison and a $5 million fine. About 25 Charlotte investors lost more than $2.5 million in a Ponzi scheme McDougal ran between 2006 and 2010..

Nucor reports higher second quarter profits

July 25, 2014

(The Charlotte Observer)

Nucor reported net income of $147 million in the second quarter, up from $85.1 million for the same period a year ago. Increased construction spending and higher steel prices boosted the Charlotte-based company's earnings. 

Sealed Air brings 1,300 jobs to Charlotte

July 24, 2014

(The Charlotte Observer)

Sealed Air Corp. − the maker of Bubble Wrap − will move its headquarters from Elmwood Park, N.J. to Charlotte, bringing 1,262 jobs. The company will invest $58 million in its new campus, and it will receive up to $36 million in state incentives.  

RoundPoint Mortgage to lay off 166 in Charlotte

July 24, 2014

(The Charlotte Observer)

RoundPoint Mortgage Co. will lay off 166 workers in Charlotte, according to a notice filed with the N.C. Department of Commerce. The company, a subsidiary of RoundPoint Financial Group, did not give a reason for the layoffs but said most will happen around Sept. 19.

Spectra Group bringing 250 jobs to Charlotte

July 23, 2014

(The Charlotte Observer)

Princeton, N.J.-based Spectra Group will open a Charlotte office, creating 250 jobs with an average annual salary of $84,996. The jobs will be based in downtown's BB&T Center and will provide services for the financial industry.

Sales of preowned vehicles boost revenue for Charlotte's Sonic Automotive

July 23, 2014

(The Charlotte Observer)

Sonic Automotive Inc. reported revenue of $2.4 billion in the second quarter, led by a 12% increase in sales of preowned vehicles. Net income for the Charlotte-based auto retailer rose to $27 million compared with $8.9 million in the second quarter a year ago. (Read more about Sonic and founder Bruton Smith in our August 2013 cover story).

Charlotte developer plans new Lake Norman community

July 22, 2014

(The Charlotte Observer)

Simonini Group will develop a mixed-use community with 220 single-family homes, 240 apartments and 100,000 square feet of retail on 116 acres in eastern Lincoln County.

BBB releases list of Charlotte companies with most complaints

July 22, 2014

(The Charlotte Observer)

The Better Business Bureau has released its annual "Dirty Half-Dozen" list of businesses in the Charlotte area that received the most unanswered consumer complaints during the first half of 2014.

Zoning amendment makes it easier for Charlotte breweries to expand

July 22, 2014

(The Charlotte Observer)

The Charlotte City Council voted to change zoning regulations to reduce the required distance between residential areas and bars, restaurants and nightclubs from 400 feet to 100 feet. The change gives breweries in neighborhoods such as Charlotte's NoDa more expansion opportunities.

Google Fiber team studying Charlotte proposal

July 21, 2014

(The Charlotte Observer)

Google is reviewing Charlotte's plan to bring its high-speed Google Fiber network to the city. Representatives from the Mountain View, Calif.-based tech company have been surveying land and have met with city planners to discuss permits. Google will announce by year-end whether it will build the network in Charlotte.