Charlotte

3 film projects receive state incentives

February 29, 2016

(Asheville Citizen-Times)

Lionsgate TV was awarded a $4 million state film grant for a remake of the 80s movie Dirty Dancing. Filming will take place in Buncombe and Jackson counties. The state Commerce department also awarded film grants for Shots Fired, a TV show that will film in Charlotte, and an independent movie titled Three Billboards Outside Ebbing, Missouri, which will film in western N.C.

MetLife in talks with MassMutual to sell adviser group

February 26, 2016

(The Charlotte Observer)

Insurer MetLife said Thursday it is in talks with Massachusetts Mutual Life Insurance about selling its Premier Client Group, part of MetLife's retail operation that is headquartered in Charlotte. New York-based MetLife employs about 1,500 in Charlotte's Ballantyne Corporate Park.

Tape manufacturer creating 49 jobs in Cabarrus County

February 26, 2016

(The Independent Tribune, Concord)

Intertape Polymer will invest $40 million in a production facility in Midland, creating 49 jobs. The publicly traded company, with dual headquarters in Montreal and Sarasota, Fla., makes tapes and cloths for the automotive and aerospace industries. The new plant is expected to open by mid-2017.

BofA seeks to settle SEC probe, cuts more marketing jobs

February 25, 2016

(The Charlotte Observer)

Bank of America said in a securities filing it is working to settle an SEC investigation into whether its Merrill Lynch unit complied with federal regulations to protect customers' holdings. The Charlotte-based bank also cut a small number of jobs in its global marketing unit this week.

Longtime Duke Energy exec to retire

February 25, 2016

(The Charlotte Observer)

A.R. Mullinax, executive vice president of strategic services at Duke Energy, will retire May 1. Mullinax, 61, has worked for the Charlotte-based utility and its predecessors for 38 years. His replacement has not been named.

Carlee stepping down as Charlotte city manager

February 25, 2016

(The Charlotte Observer)

Ron Carlee said he will not seek an extension of his three-year contract, which expires at the end of March. The city council had been unable to agree in recent months whether to renew Carlee's contract.

Charlotte restaurant group faces delisting

February 24, 2016

(The Charlotte Observer)

Chanticleer Holdings could have its stock delisted from the Nasdaq Capital Market after shares closed below $1 for 30 consecutive days. The Charlotte-based company is a franchisee of Hooters restaurants, owns American Roadside Burgers and holds a majority stake in the Just Fresh restaurant chain.

Record auto sales boost Sonic's Q4 earnings

February 24, 2016

(The Charlotte Observer)

Charlotte-based Sonic Automotive reported fourth-quarter earnings of $31.1 million, or 62 cents per share, up from $26.1 million a year ago and beating analysts' expectations of 59 cents a share. Sales of new and used cars reached record levels in the fourth quarter.

Duke Energy sued over nuclear charges in Florida

February 24, 2016

(The Charlotte Observer)

A class-action lawsuit accuses Duke Energy and Florida Power & Light of charging customers $2 billion to increase capacity at a nuclear plant it retired in 2013 and to build another nuclear power plant. Plans for the second plant were canceled.

Spec buildings show developers' confidence in Charlotte office market

February 23, 2016

(The Charlotte Observer)

As Bissell tops out its 10-story Brigham building in Charlotte's Ballantyne Corporate Park this week, at least three other large office buildings also are under construction without a signed anchor tenant. Developers are confident the space will be filled, as vacancy rates fall and rents increase.

Cleveland County industrial site earns CSX designation

February 23, 2016

(The Shelby Star)

The Washburn Switch Business Park in Cleveland County was named a CSX Select Site, which means the 400-acre park has been vetted and is ready for development. Local officials hope the designation will make the site more visible to prospective businesses. North Carolina has three CSX Select Sites; others are in Brunswick and Edgecombe counties.

Financial-services company rebrands as TIAA

February 23, 2016

(The Charlotte Observer)

TIAA has dropped the "CREF" from its name and will launch a national advertising campaign to get the word out. The New York-based company began as a provider of pensions for teachers but is looking to broaden its appeal to other groups, CMO Connie Weaver said. TIAA employs more than 3,000 people in Charlotte.

$50M expansion planned for Charlotte's Northlake Mall

February 22, 2016

(The Charlotte Observer)

Starwood Retail Partners will spend $50 million on a 200,000-square-foot addition at Northlake Mall, off Interstate 77 in north Charlotte. Starwood bought mall in 2014 for $248 million and last year paid $6 million for an adjacent 11-acre parcel. At 1.1 million square feet, Northlake is the fourth-largest mall in the Charlotte region.

Slow start for Concord battery-maker

February 22, 2016

(The Charlotte Observer)

Alevo has hired about 140 people, fewer than the 500 the energy-storage company had projected within its first year in Concord. The Switzerland-based company moved into a former Philip Morris cigarette factory last year with lofty ambitions, saying its workforce eventually could reach 6,000 people. "We're a little behind where we expected to be," said Scott Schotter, chief marketing officer. Alevo expects to begin producing its GridBanks battery-storage modules this spring.

Sealed Air names new chief information officer

February 22, 2016

(The Charlotte Observer)

Edwina Payne will be based at Sealed Air's Charlotte headquarters, reporting to Chief Financial Officer Carol Lowe. Payne previously was chief information officer at Warsaw, Ind.-based Zimmer Biomet, a medical-device manufacturer. Sealed Air, a Fortune 500 company, employs about 500 people in Charlotte.

Duke Energy to sell international business

February 19, 2016

(The Charlotte Observer)

After reporting year-end results that were up from the previous year but fell short of analysts' expectations, Duke Energy said it will sell its international business, which is estimated to be valued at $2.3 billion. Drought and weak currency exchange rates have made the business more volatile. "Our investors are looking for stability," CEO Lynn Good said.

Carolina Panthers raising ticket prices

February 19, 2016

(The Charlotte Observer)

The team says about two-thirds of seats in Bank of America stadium will increase by $5-$12 from last year. A third phase of stadium renovations is on track, including an improved WiFi system and upgrades to the upper level that should reduce concession wait times.

Williams Electric lays off 168 workers in Shelby

February 19, 2016

(The Charlotte Observer)

Williams Electric in Shelby will lay off 168 people as its contract with Duke Energy expires, but affected workers have been offered jobs with two other utility companies.

Salisbury manufacturer files for bankruptcy protection

February 18, 2016

(The Salisbury Post)

The parent company of Norandal USA has filed for Chapter 11 bankruptcy protection. The company said demand is still high for its flat-rolled products division that produces aluminum foil and sheeting, including at its Salisbury plant. Norandal employs 150 to 200 workers in Salisbury.

Crescent Communities adds homebuilding arm

February 17, 2016

(The Charlotte Observer)

Charlotte developer Crescent Communities is launching Fielding Homes, a new division that will build single-family homes. The company will build 64 homes in a Fort Mill, S.C., subdivision.