Charlotte

NC fines Duke Energy $6.6M over coal-ash spill

February 10, 2016

(The News & Observer, Raleigh)

Two years after a stormwater pipe ruptured and 39,000 tons of coal ash flowed into the Dan River, the N.C. Department of Environmental Quality fined Duke Energy $6.6 million for violations related to the spill.

Advertisers won't snub 'sore loser' Newton

February 10, 2016

(The Charlotte Observer)

Cam Newton's sulking press-conference performance after the Super Bowl isn't likely to affect future endorsements, marketing experts say. Forbes estimated Newton earned $10 million in 2015 from endorsements including Under Armour, Beats by Dre and Belk. "I've been on the record to say I'm a sore loser," Newton said Tuesday.

Carolinas HealthCare could name Tarwater's replacement Thursday

February 10, 2016

(The Charlotte Observer)

Carolinas HealthCare System could name its new CEO at a special board meeting Thursday morning. Michael Tarwater, who has led the Charlotte-based hospital system since 2002, is retiring in June.
Related: Carolinas HealthCare CEO was paid $6.6 million

Tyson Foods adding 56 jobs in Monroe

February 10, 2016

(The Charlotte Observer)

Springdale, Ark.-based Tyson Foods will proceed with a $5 million expansion at its chicken processing plant in Monroe. The expansion will add 56 jobs; the company currently employs about 1,500 people at the plant. The city of Monroe and Union County are offering about $225,000 in incentives.

Aquesta preps to open first Wilmington branch

February 9, 2016

(The Charlotte Observer)

Cornelius-based Aquesta Bank received regulatory approval to open its first branch outside the Charlotte metro area. The new Wilmington branch will allow it to build on its presence there; Aquesta opened an insurance-services office there more than eight years ago. Aquesta has seven branches and had $293 million in assets at the end of 2015.

President of NewDominion Bank steps down

February 9, 2016

(The Charlotte Observer)

Marc Bogan, president and chief operating officer of Charlotte-based NewDominion Bank, is leaving to pursue other opportunities, specifically to pursue his dream of becoming CEO of a community bank.

Truslow to become CFO of Charlotte's Park Sterling

February 8, 2016

(The Charlotte Observer)

Don Truslow, former chief risk officer at Wachovia until his retirement from the company in 2008, will become chief financial officer of Park Sterling Bank, replacing David Gaines, who is leaving at the end of March. Truslow most recently was a senior adviser at Deloitte & Touche.

DOT: Work on Charlotte's Independence could resume in March

February 8, 2016

(The Charlotte Observer)

Construction to widen Charlotte's Independence Boulevard could resume by the end of March, according to the N.C. Department of Tranportation. Michigan-based contractor DeVere stopped working on the project last week due to a financial dispute with the state.

Tony Zeiss, president of CPCC, to retire

February 5, 2016

(The Charlotte Observer)

Longtime Central Piedmont Community College President Tony Zeiss said Thursday he will retire in July. Zeiss, 70, has led the Charlotte college since 1992. During his tenure, enrollment soared to 70,000 students and the school grew from one campus to six.

Carolinas HealthCare CEO earns 26% more in 2015

February 5, 2016

(The Charlotte Observer)

Michael Tarwater, CEO of Charlotte-based Carolinas HealthCare System, received $6.6 million in total compensation in 2015 compared with $5.3 million the previous year. A company spokeswoman said part of the increase is related to Tarwater's pending retirement in June. He has worked for the $8 billion hospital system for 35 years.

Lowe's to acquire Canada-based Rona for $2.3B

February 4, 2016

(The Charlotte Observer)

Mooresville-based Lowe's will pay $2.3 billion for Rona, a home-improvement retailer with almost 500 stores. In 2012, the Canadian company rejected a hostile bid by Lowe's. "We're in a much better place than we were in 2012," Lowe's CEO Robert Niblock said.

Wells Fargo cuts more mortgage jobs in Charlotte, Raleigh

February 4, 2016

(The Charlotte Observer)

The San Francisco-based lender is cutting 87 jobs in Raleigh and 68 jobs in Charlotte and Fort Mill, S.C., due to declining foreclosure rates and fewer people defaulting on their home loans. Wells, the largest U.S. mortgage lender, also announced Wednesday it will pay $1.2 billion to settle a mortgage dispute with the federal government.

U.S. Bank quietly expands in Charlotte

February 4, 2016

(The Charlotte Observer)

U.S Bank is moving its anti-money laundering division to a larger office in uptown Charlotte that will accommodate 50-75 people, mostly new hires. The bank, part of Minneapolis-based U.S. Bancorp, employs about 400 people in the Queen City, up from about 100 in 2008.

Google Fiber will be free for pubic housing residents

February 4, 2016

(The Charlotte Observer)

Google Fiber will offer high-speed Internet service to residents of public housing at no charge in the cities where its network is available. The tech giant is rolling out its gigabit Internet service in Charlotte and the Triangle, but has not provided specific dates when the service will be available.

Ally's profit jumps 49%

February 3, 2016

(The Charlotte Observer)

Ally Financial CEO Jeffrey Brown, who is based in Charlotte, said in a conference call Tuesday that a variety of factors could be responsible for the company's poor stock performance, including investors' fears of an auto bubble. The Detroit-based bank reported fourth quarter net income of $263 million, compared with $177 million a year ago.

Former NationsBank exec joins Raleigh's Paragon Bank

February 3, 2016

(The Charlotte Observer)

Rusty Page is a senior vice president and business-development officer at the Charlotte office of Raleigh's Paragon Bank, which provides private- and commercial-banking services for affluent customers and small and midsized businesses. Page is the former head of investor relations for Charlotte' NationsBank, now Bank of America.

California company adding 200 jobs in Concord

February 2, 2016

(The Independent Tribune, Concord)

ETS Express, a family-owned business that produces personalized drinkware products, plans to create 200 jobs over the next 18 months at a manufacturing and distribution center in Concord. The company will occupy a 152,000-square-feet building that was part of a $22 million speculative industrial project — Amazon also has a distribution center there — near Concord Regional Airport.

BofA prepares to file 20 blockchain patents

February 1, 2016

(American Banker)

Trying to stay ahead of the curve, Bank of America is preparing to file 20 blockchain-related patents, according to a CNBC report. As of December, the Charlotte-based bank had already filed 15 blockchain patents. A blockchain is a public ledger of all Bitcoin transactions.
More on Bank of America: Analyst: BofA at greater risk of a shareholder push to restructure

Electrolux scraps plans for Charlotte expansion

January 29, 2016

(The Charlotte Observer)

Appliance-maker Electrolux said Thursday it is canceling plans for an expansion at its North American headquarters that would have nearly doubled its Charlotte workforce. The Sweden-based company cited its failed deal to acquire General Electric's appliance unit as the reason. Electrolux also tapped Alan Shaw to lead its North American operations; interim CEO Keith McLoughlin is retiring Feb. 1.

China gets some North Carolina love – and admonishment

January 29, 2016

North Carolina received its most important guest of the year in Charlotte Wednesday. Cui Tiankai, China's ambassador to the United States, attended a reception to celebrate the Chinese New Year and encourage more ties between the Carolinas and China. Local and state officials welcomed his visit, including a congressman who offered some stern words.