Charlotte

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.

Microsoft to lay off 18,000 workers

July 18, 2014

(The Charlotte Observer)

Microsoft Corp. will cut 18,000 jobs − about 14% of its workforce − worldwide in the largest layoffs in the technology company's history. The Redmond, Wash.-based company employs about 1,200 in North Carolina, most in Charlotte, thought it is unknown if any of those jobs will be affected. 

Charlotte Cafe files for bankruptcy protection

July 18, 2014

(The Charlotte Observer)

Charlotte Cafe, a 33-year-old restaurant located in Park Road Shopping Center, has filed for Chapter 11 bankruptcy protection but plans to stay open during the reorganization. Owner Jimmy Roupas blamed increased food costs and debts stemming back to the recession.

Icahn says Levine shouldn't be CEO of Family Dollar

July 17, 2014

(The Charlotte Observer)

Investor Carl Icahn criticized Family Dollar's management and said Leon Levine should not be CEO of the Matthews-based company. Icahn acquired a 9.4% stake in the discount retailer last month and has been trying to force a sale of the company. 

BofA raises settlement offer with Justice Department

July 17, 2014

(The Charlotte Observer)

Bank of America has resumed talks with the U.S. Department of Justice and has offered a settlement of $12 billion to resolve probes related to mortgage-backed bonds it sold to investors prior to the financial crisis. Second-quarter profits fell 43%, due in part to $4 billion in legal expenses.

CoreLogic to close Charlotte office

July 16, 2014

(The Charlotte Observer)

Irvine, Calif.-based CoreLogic will close its Charlotte office, laying off 46 workers by October. The company provides real-estate data and mortgage-document processing.

Citigroup agrees to $7B mortgage settlement

July 15, 2014

(The Charlotte Observer)

Following Citigroup's announcement of a $7 billion settlement to resolve claims over securities tied to risky mortgages, experts say Bank of America is likely to settle over similar claims rather than go to trial. Talks between the bank and the Justice Department stalled in June after BofA offered to pay about $5 billion less than the $17 billion the Justice Department was seeking.

Panthers stadium upgrades near completion

July 15, 2014

(The Charlotte Observer)

The Carolina Panthers will unveil the first phase of a $125 million renovation at the team’s annual FanFest on July 25. The first phase of upgrades, which includes new escalators and video boards, cost $65 million.

FedEx to build $41 million distribution center in Concord

July 14, 2014

(The Independent Tribune, Concord)

FedEx will invest $41 million in a 330,780-square-foot distribution center in Concord, where it plans to employ 59 full-time and 462 part-time workers by the end of 2019. Some employees will be transferred from the company's current operation in Charlotte.

Charlotte's Food Babe has followers, critics

July 14, 2014

(The Charlotte Observer)

Charlotte-based food blogger Vani Hari has gained national attention for her online campaigns against food companies, but some question the validity of her claims and criticize her for taking more credit than she deserves in influencing companies to make changes to their products.

Family Dollar to make changes after profits fall

July 11, 2014

(The Charlotte Observer)

Profits at Family Dollar fell 33% in its third quarter compared with the same period a year ago, the Matthews-based company reported Thursday. The discount retailer plans to begin selling alcohol and expand its selection of frozen- and refrigerated-food items.

Keurig to make coffee products for Harris Teeter

July 11, 2014

(The Charlotte Observer)

Vermont-based Keurig Green Mountain will manufacture K-Cup single-serve coffee packs for Harris Teeter. The Matthews-based grocery-store chain, which is owned by Cincinnati-based Kroger Co., will sell the products, branded with the Harris Teeter name, in supermarkets and online.

Allegiant Air adding flights in Concord

July 10, 2014

(Independent Tribune, Concord)

Allegiant Airlines will add six weekly flights to three additional Florida destinations from Concord Regional Airport beginning in October. The Las Vegas-based airline began service from Concord to Orlando in December with two weekly flights.