Charlotte

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."

JPMorgan ready for growth in Charlotte, Carolinas

February 5, 2014

(The Charlotte Observer)

New York-based JPMorgan Chase is looking to hire bankers in treasury services and risk management as it expands its middle-market banking team in Charlotte. The bank, which just entered the market last summer, eventually plans to expand across the Carolinas.

Bank of America will hire 200 small-business bankers

February 5, 2014

(The Charlotte Observer)

Bank of America will hire more than 200 small-business bankers this year, the company announced Tuesday. The company has not determined which markets where it will add the positions; it's unknown whether any of the new jobs will be in the bank's Charlotte headquarters.

Salsarita's founder plans new Italian concept

February 5, 2014

(The Charlotte Observer)

The founder of Salsarita's Fresh Cantina is joining with Johnson & Wales chef Peter Reinhart to launch a new fast-casual Italian restaurant concept called Capishe! Bold Italian Kitchen. They are in negotiations for two Charlotte locations and expect to open the first Capishe, which will serve sandwiches, pastas and salads, later this year. 

Wells Fargo ranked most valuable bank brand in the world

February 4, 2014

(The Charlotte Observer)

According to a brand valuation consultancy, Wells Fargo is the most valuable bank brand in the world. The Brand Finance Banking 500 valued the bank's brand at more than $30 billion. Charlotte-based Bank of America was third on the list, with a brand value of more than $26 billion.

American to drop nonstop flights from Charlotte to Rio

February 4, 2014

(The Charlotte Observer)

American Airlines will discontinue daily nonstop flights from Charlotte to Rio de Janeiro beginning in early 2015. It is the first major cutback from Charlotte Douglas International Airport since American completed its merger with US Airways last year. American still plans to offer nonstop flights to Sao Paulo, Brazil, but travelers headed to Rio will have a connecting flight.

Judge approves $8.5 billion Bank of America settlement over faulty home loans

February 3, 2014

(The Charlotte Observer)

A New York state judge approved an $8.5 billion settlement between Bank of America and private investors over losses incurred from home loans originated by Countrywide Financial Corp., which the Charlotte-based bank acquired in 2008. 

Electrolux predicts continued growth in North American markets

February 3, 2014

(The Charlotte Observer)

Electrolux reported North American sales of $1.2 billion, an increase of 7.2%, led by sales of major appliances. Jack Truong, CEO of the company's North American division, said it plans to introduce 500 new products this year and anticipates appliance sales will increase by 4%. The Swedish company announced last month it is doubling the workforce at its North American headquarters in Charlotte. 

Parking rates to rise at Charlotte airport

January 31, 2014

(The Charlotte Observer)

Charlotte Douglas International Airport will increase parking rates to cover the costs of contruction, higher expenses and more modern shuttle buses. Rates for curbside valet, business valet and daily garage rates will increase by 40% to 50% beginning Feb. 17. New hourly rates will take effect in November, and long-term parking rates will increase Feb. 2015.