Charlotte

Family Dollar CEO donates $45M to foundation

March 23, 2015

(The Charlotte Observer)

Howard Levine, CEO of Matthews-based Family Dollar Stores, will give $45 million he raised from selling 60,000 shares of company stock to his namesake foundation. Created in 2010, the Howard R. Levine Foundation now has $65 million in assets. Levine plans to give most of the money to social-services needs, including food and housing.

Snyder's-Lance expands healthy-snack options

March 23, 2015

(The Charlotte Observer)

Snyder's-Lance plans to introduce a gluten-free sandwich cracker this spring, the latest move by the Charlotte-based snack-maker to expand its healthier offerings. The company last year bought organic-chip company Late July Snacks and Baptista's Bakery, which makes baked snacks.

Hornets ink deal with Crown Royal

March 20, 2015

(The Charlotte Observer)

The Charlotte Hornets signed a multiyear deal with London-based liquor company Diageo, marking Time Warner Cable Arena's first partnership with an alcoholic-beverage company. The NBA team's logo will appear on Crown Royal bags as part of the deal. Financial terms were not disclosed.

SEC denies Bank of America's bid to block shareholder proposal

March 19, 2015

(The Charlotte Observer)

Bank of America must include on its upcoming proxy a shareholder proposal that suggests the bank explore ways to split itself into two or more companies. The Securities and Exchange Commission ruling means shareholders will vote on the proposal at the Charlotte-based bank's annual meeting in April.

Ritz Carlton issues second apology over CIAA surcharge

March 19, 2015

(The Charlotte Observer)

The Ritz-Carlton hotel in downtown Charlotte apologized again for adding a 15% surcharge to customer bills during the CIAA basketball tournament held last month. The hotel said Wednesday all of the gratuity was paid to the servers who worked during the event. N.C. Attorney General Roy Cooper's office is investigating whether the hotel violated fair trade practices.

Wells Fargo CEO Stumpf earns $19.3M in 2014

March 18, 2015

(The Charlotte Observer)

Wells Fargo CEO John Stumpf's total compensation for 2014 remained unchanged at $19.3 million, according to the bank's annual proxy filing. Charlotte-based David Carroll, who leads about 35,000 employees in the bank's wealth, brokerage and retirement unit, earned $9.6 million. The San Francisco-based bank employs about 22,000 people in Charlotte, its East Coast headquarters.

Charlotte City Council considers proposal for Golf Links property

March 17, 2015

(The Charlotte Observer)

Lincoln Harris appears to face little opposition to its plans to develop a 194-acre site that was home to the Charlotte Golf Links in south Charlotte. Plans for the development, which sits across Providence Road from Childress Klein's Waverly development that is under construction, include up to 1,000 housing units, up to 700,000 square feet of office space and possibly a K-8 public school.
Related: Major mixed-use development planned at I-485 and Brookshire Boulevard

Concord's Alevo seeks to hire veterans

March 16, 2015

(The Independent Tribune, Concord)

Alevo Group wants to hire veterans for advanced engineering positions at its manufacturing headquarters in Concord, where it will make battery-cell storage containers. The company took over the 3.5 million-square-foot former Philip Morris plant and announced last year it plans to hire 2,500 people within three years (Statewide, December).

Charlotte seeks to prevent 'digital divide' when rolling out Google Fiber

March 13, 2015

(The Charlotte Observer)

Charlotte is looking to Kansas City for advice on how to get residents in poorer neighborhoods to sign up for Google Fiber, the technology company's high-speed Internet service that is expected to be available in Charlotte and the Triangle in about two years. Google only offers the service in neighborhoods where a minimum number of residents sign up for it.

Union County sees first decrease in property values

March 13, 2015

(The Charlotte Observer)

About 69% of Union County homeowners saw a decrease in property values in the latest countywide revaluation. The first-ever decrease in property values could lead to a higher tax rate. Homes worth $1 million or more were impacted the most, according to Tax Administrator John Petoskey.

Fed OKs BofA stock buybacks

March 12, 2015

(The Charlotte Observer)

The Federal Reserve gave Bank of America permission to repurchase $4 billion in common stock, but the Charlotte-based bank must fix problems with its capital planning process. The bank has six months to address the issues, which were uncovered in its annual "stress test," but regulators will allow it to begin repurchasing shares in the second quarter.

Apple expanding Maiden data center

March 12, 2015

(Hickory Daily Record)

Apple recently filed a permit for a new data center at its Maiden campus, where the Cupertino, Calif.-based company already operates a 500,000-square-foot data center and two tactical ones. Plans show the new data center would measure more than 114,300 square feet. The permit also identifies an area for future expansion. Apple has invested more than $500 million in the Catawba County campus, according to its website.

Jordan tops Forbes list of retired athletes

March 12, 2015

(The Charlotte Observer)

With earnings totaling $100 million in 2014, Charlotte Hornets owner Michael Jordan topped Forbes magazine's second annual list of highest-paid retired athletes. Carolina Panthers owner Jerry Richardson, who also has a stake in one the largest Bojangles' franchises, came in fifth, earning $23 million.

Duke Energy will pay $146M to settle shareholder lawsuit

March 11, 2015

(The Charlotte Observer)

Duke Energy will settle a shareholder lawsuit related to its 2012 merger with Raleigh-based Progress Energy for about $146 million, the Charlotte-based utility said Tuesday. The class-action lawsuit claimed stemmed from Duke's unexpected decision to fire Progress CEO Bill Johnson just hours after the merger was completed, instead giving the job to Duke CEO Jim Rogers. 

Charlotte's Carolinas HealthCare System profitable in 2014

March 11, 2015

(The Charlotte Observer)

Carolinas HealthCare System ended 2014 with a $173 million operating profit, an 80% increase over the previous year. The Charlotte-based hospital system had predicted it would post its first loss in more than 30 years. Hospital executives attributed the turnaround to a surge in patients.

7-Eleven waiving franchise fees for Charlotte stores

March 10, 2015

(The Charlotte Observer)

Dallas-based convenience-store chain 7-Eleven will waive upfront franchise fees for 13 stores in the Charlotte area in an effort to expand its local footprint and convert more company-owned stores to franchise stores. The average franchise fee for a store in the Carolinas is $139,828, according to a company spokeswoman.

NC's Grier, Hari make Time's list of influential Web stars

March 10, 2015

(The Charlotte Observer)

Charlotte food blogger Vani Hari (aka Food Babe) and 17-year-old Vine user Nash Grier, who attended Davidson Day School but now lives in California, both landed on Time magazine's list of the 30 most influential people on the Internet.

BofA's Finucane says bank is a simpler, better company since financial crisis

March 10, 2015

(The Charlotte Observer)

Bank of America's global chief strategy officer Anne Finucane said in a Bloomberg interview that the Charlotte-based bank "is a better bank" and is much more transparent than it was before the financial crisis. 

Growth picking up at NC Research Campus

March 9, 2015

(The Salisbury Post)

David Murdock's $15 million annual contribution, announced last year, will allow his namesake research institute in Kannapolis to expand the scope of its work. North Carolina A&T University and Duke University are expanding their laboratory space at the research campus, which was announced in 2005 and has grown slower than expected, in part due to the economic recession that began in December 2007.

Duke Energy's Carter joins Bank of America

March 9, 2015

(The Charlotte Observer)

Bank of America named Brett Carter chief operating officer for its Global Technology and Operations unit, which is headed by Charlotte-based Cathy Bessant. Carter was senior vice president of Duke Energy Carolinas and was chairman of the Charlotte Chamber in 2013.