Charlotte

Founder of Charlotte's Rodgers Builders dies

February 17, 2014

(The Charlotte Observer)

Bonar Day "B.D." Rodgers Jr. died Friday at age 89. The Charlotte native started Rodgers Builders Inc. in 1963 and was also an active leader in the community. Rodgers Builders, which has offices in Charlotte, Raleigh and Greenville, S.C., was involved in many high-profile projects including the Bechtler Museum of Modern Art, Carolinas Medical Center's Levine Cancer Institute and the new BB&T Ballpark in uptown Charlotte.

Bank of America lays off mortgage, technology workers

February 14, 2014

(The Charlotte Observer)

A spokesman for Bank of America said Thursday the bank has cut a small number of mortgage jobs in the Charlotte area, though he declined to give an exact number. On Wednesday, the bank confirmed that it laid off an unspecified number of workers in its technology and operations division for the second month in a row.

Charlotte airport cancels most flights Thursday; passengers stranded

February 14, 2014

(The Charlotte Observer)

Charlotte Douglas International Airport canceled more than 1,340 flights on Thursday, the most it has canceled in a single day in more than a decade. About 1,000 passengers spent the night in the terminal. 

MetLife reports improved earnings in fourth quarter

February 14, 2014

(The Charlotte Observer)

MetLife reported a fourth quarter profit of $1.6 billion, up 14% over a year ago. Lower derivatives losses and lower expenses contributed to the improved results for the nation's largest life insurance company.

Justice Department investigates state agency after coal-ash spill

February 14, 2014

(The News & Observer, Raleigh)

Following last week's coal-ash spill into the Dan River in Eden, the U.S. Justice Department began a criminal investigation of the state agency charged with regulating Duke Energy. Both the N.C. Department of Environment and Natural Resources and the Charlotte-based utility received subpoenas and both have vowed to cooperate in the case.

Comcast to buy Time Warner Cable for $45.2 billion

February 13, 2014

(The News & Observer, Raleigh)

Comcast has agreed to buy Time Warner Cable for $45.2 billion in stock, or $158.82 a share. Time Warner shares closed at $135.31 on Wednesday. The boards of both companies approved the deal, which should close by the end of the year, pending regulatory approval.

Winter storm leads to canceled flights at Charlotte airport

February 12, 2014

(The Charlotte Observer)

US Airways canceled more than 150 flights at Charlotte Douglas International Airport Tuesday, and expected to cancel more today and Thursday. Many flights were canceled to prevent passengers from getting stranded in anticipation of today's winter storm.

Food Lion parent company wants pork suppliers to use more humane methods

February 12, 2014

(The Salisbury Post)

Delhaize America will encourage its pork suppliers to eliminate the use of restrictive gestation crates for breeding pigs. The Salisbury-based company will require providers to submit reports on their progress in switching to the use of open pens for raising pigs.

Pat Rodgers honored by Charlotte economic development group

February 12, 2014

(The Charlotte Observer)

Pat Rodgers, president of Charlotte-based Rodgers Builders, received the Vision Award from Charlotte Center City Partners for her work in overseeing numerous construction projects in center-city Charlotte, including the new BB&T Ballpark, Imaginon and the Bechtler and Mint Museums. 

Former Charlotte Bank of America exec pleads guilty in bid-rigging case

February 11, 2014

(The Charlotte Observer)

An executive who worked for Bank of America in Charlotte from 1998 to 2002 pleaded guilty for his part in a bid-rigging scheme related to a federal investigation of the U.S. municipal bond market. Phillip D. Murphy served as the bank's managing director of municipal derivatives products. 

Tillis leads GOP candidates in campaign cash

February 11, 2014

(The Charlotte Observer)

According to a campaign report, Republican Thom Tillis has raised $1.8 million for his Senate campaign, more than three times the amount raised by any of his GOP opponents. The amount includes donations from the PACs of more than 10 Republican U.S. senators and House Speaker John Boehner.

Activists say NC regulators protected Duke in pollution lawsuits

February 10, 2014

(The News & Observer, Raleigh)

Environmental groups filed three lawsuits last year in an effort to force Duke Energy to clear out coal-ash ponds; each was blocked by the N.C. Department of Environment and Natural Resources which elected instead to file an enforcement action against Duke and impose modest fines rather than have the utility clean up the ponds.  

Catawba casino developer linked to video-poker industry

February 10, 2014

(The Charlotte Observer)

The developer chosen to work with Rock Hill, S.C.-based Catawba Indian Nation on a proposed Cleveland County casino project spent his early career in the video-poker business, an industry that Attorney General Roy Cooper says has been a source of corruption and a challenge for law enforcement officials in the state. The revelation sheds light on why the project, which could bring up to 4,000 jobs to the area, has been met with resistance from many state lawmakers.

Regulator places Wells Fargo-Ocwen Financial deal on hold

February 7, 2014

(The Winston-Salem Journal)

The impending sale of Wells Fargo's mortgage-servicing rights on 184,000 loans to Atlanta-based Ocwen Financial Corp. is on hold. A New York regulator expressed concern over Ocwen's ability to service the loans.

Subway to change recipe after Charlotte blogger gets 50,000 signatures

February 7, 2014

(The Charlotte Observer)

On Tuesday, a Charlotte-based food blogger started a petition on her blog to get Subway to remove a chemical from its bread recipe, and within 24 hours 50,000 people had signed it. A day later, officials from Subway contacted Vani Hari of of FoodBabe.com to let her know it will change its recipe.

Swisher reaches $5.5 million settlement agreement with shareholders

February 7, 2014

(The Charlotte Observer)

Shareholders of Swisher Hygiene have reached a preliminary settlement with the Charlotte-based company over a class-action lawsuit which claimed Swisher inflated its stock price. If a judge approves the settlement, shareholders would be eligible to receive $5.5 million. 

AIG seeks to vacate judge's ruling on BOA settlement

February 6, 2014

(The Charlotte Observer)

American International Group claims the $8.5 billion settlement Bank of America has reached with private investors is far less than what investors lost from home loans orginated by the bank's Countrywide unit. AIG has asked a federal judge not to enter a final judgement on the settlement, which was largely approved on Friday.

Two plead guilty for involvement in $850 million Ponzi scheme

February 6, 2014

(The Winston-Salem Journal)

At a U.S. District Court hearing in Charlotte on Wednesday, Dawn Olivares and her stepson Daniel Olivares pleaded guilty for their roles in the ZeekRewards.com Ponzi scheme. Both had been charged with investment fraud conspiracy pertaining to the $850 million scam which used money from new investors to pay existing ones. Dawn Olivares also pleaded guilty to tax fraud conspiracy.

Charlotte airport looks to attract development by expanding foreign trade zone

February 5, 2014

(The Charlotte Observer)

Charlotte Douglas International Airport has filed an application to declare 3,900 acres, or about two-thirds of its property, as a foreign trade zone. If approved, businesses that locate there could take advantage of lower tax rates for importing and exporting goods.

Kellogg to close Charlotte plant, lay off 195 workers

February 5, 2014

(The Charlotte Observer)

Kellogg Co. will close its Charlotte plant by the end of the year, cutting about 195 jobs. The factory produces cookies including Famous Amos and Iced Animals. The Michigan-based company also announced it will close two production lines at a plant in Cincinnati; the closures are part of a cost-cutting initiative called "Project K."