Charlotte

Cabarrus pursues projects that could bring 1,200 jobs

October 1, 2015

(The Independent Tribune, Concord)

In September, Cabarrus Economic Development received double the usual amount of information requests from companies considering bringing jobs to the area. The organization is in talks with seven unnamed companies that could invest more than $110 million and bring more than 1,200 jobs.

Panthers' Charles Johnson to open Charlotte eatery

October 1, 2015

(The Charlotte Observer)

Carolina Panthers defensive end Charles Johnson plans to open a restaurant in a historic fire station in downtown Charlotte. He needed something to keep him busy while on injured reserve, Johnson said in an Instagram post.

BofA submits revised capital plan

October 1, 2015

(The Charlotte Observer)

In March, the Federal Reserve gave Bank of America permission to repurchase $4 billion in common stock but said it needed to revise its capital plan to address weaknesses. The Charlotte-based bank submitted a revised plan Wednesday.

Duke Energy reaches settlement in contamination case

September 30, 2015

(The News & Observer, Raleigh)

Minutes into Duke Energy's Tuesday court hearing over a $25.1 million state fine, the company reached a settlement with state environmental regulators. The N.C. Department of Environmental Quality agreed to drop a case involving groundwater contamination at Duke's Sutton plant in Wilmington; in exchange, the Charlotte-based company will pay $7 million. The deal also resolves groundwater violations at 14 coal-ash storage sites across the state.

Premier's DeVore earns less in 2015

September 30, 2015

(The Charlotte Observer)

Susan DeVore, CEO of Charlotte-based health-care company Premier, earned $6.9 million in total compensation in fiscal 2015. That's down from the $24.9 million she received in 2014, when DeVore was granted $22.4 million in stock and option awards tied to the company's IPO and was the state's highest paid chief executive.
Related: "Premier position," August

BofA cuts traders, bankers; impact on Charlotte unclear

September 30, 2015

(The Charlotte Observer)

Bank of America plans to cut dozens of jobs in its trading and banking divisions, though the company declined to say whether any Charlotte jobs will be affected. The bank's third-quarter revenue declined about 5%.

Duke Energy heads to court over $25.1M fine

September 29, 2015

(The News & Observer, Raleigh)

Lawyers for Duke Energy and the N.C. Department of Environment and Natural Resources failed to reach a settlement Monday over a $25.1 million fine imposed on the utility for years of groundwater contamination at its Wilmington power plant. Court hearings are scheduled to begin Tuesday.

Charlotte City Council approves next phase of airport expansion

September 29, 2015

(The Charlotte Observer)

Charlotte City Council approved spending $7.8 million on design plans for a new, 211,000-square-foot concourse at Charlotte Douglas Interational Airport. The new concourse will add nine gates to the airport's 96. Construction is expected to begin in January.

Charlotte's SPX completes spinoff of flow-products business

September 29, 2015

(The Charlotte Observer)

The new company, called SPX Flow, began trading Monday on the New York Stock Exchange and will manufacture pumps, valves and filtration systems. The remaining company will make and sell transformers, boilers and communication systems. Both companies will be based in Charlotte.

Coke Consolidated to expand distribution footprint

September 25, 2015

(The Charlotte Observer)

The Charlotte-based Coca-Cola bottler will purchase manufacturing facilities in four states from Atlanta-based Coca-Cola, which is divesting its bottling operations. Shares of Coke Consolidated, which recently announced plans to add 140 employees in Charlotte, rose nearly 7% Thursday.

Charlotte's AvidXchange partners with KeyBank

September 25, 2015

(The Charlotte Observer)

AvidXchange, a Charlotte-based accounting software company, received a minority investment from Cleveland-based KeyBank. AvidXchange broke ground this month on a new headquarters where it plans to create more than 600 new jobs. With assets of about $95 billion, KeyBank operates more than 900 branches in 12 states.

Mecklenburg revisits incentive agreements ahead of Time Warner merger

September 24, 2015

(The Charlotte Observer)

Mecklenburg County is reviewing incentive agreements with Time Warner Cable after the company told local employees Monday that some jobs could be relocated after the company's merger with Stamford, Conn.-based Charter Communications. Time Warner was awarded tax rebates in 2004, 2008 and 2011 in exchange for adding new jobs.

Childress Klein gives $2.5M to UNC Charlotte

September 24, 2015

(The Charlotte Observer)

UNC Charlotte's real-estate center will be renamed for Charlotte-based developer Childress Klein. The company donated $2.5 million to the center; with matching state funds, the total impact of the gift will be $3.2 million. The money will be used to endow a professorship and for faculty fellowships and master's degree training programs.

Moynihan keeps chairman title

September 23, 2015

(The Charlotte Observer)

About 63% of shareholders at a special meeting in Charlotte voted to allow Bank of America CEO Brian Moynihan to keep his chairman position. After the meeting, bank executives said they plan to be more engaged with shareholders in the future.

Time Warner-Charter merger may impact Charlotte jobs

September 23, 2015

(The Charlotte Observer)

Employees at Time Warner Cable's Charlotte offices learned that their jobs might be affected by the cable giant's upcoming merger with Charter Communications. Some finance operations could be relocated to Denver, St. Louis or Stamford, Conn., where Charter is based. Time Warner employs 3,140 in the Charlotte area.

Topgolf 'committed' to Charlotte site for its first NC location

September 22, 2015

(The Charlotte Observer)

Topgolf is looking at opening an entertainment complex on 15 acres in southwest Charlotte. The Dallas-based company's centers offer nontraditional golf games for all skill levels with extensive food and beverage options. The company says the complex would create 500 jobs.

Mecklenburg's economic-development director wants to get county more involved in recruiting

September 22, 2015

(The Charlotte Observer)

Peter Zeiler, Mecklenburg County's new economic development director, wants his office to take a more active role in recruiting jobs and developing programs that support entrepreneurship.

BofA shareholder vote could be close

September 21, 2015

(The Charlotte Observer)

A Tuesday shareholder vote that will determine whether Bank of America CEO Brian Moynihan will remain chairman is expected to be close. Several major pension funds are opposed to the bylaw change that eliminates the requirement for an independent chairman, while investor Warren Buffett and others support the change. The bank's largest investors haven't spoken on the issue.

Harris Teeter adds gas stations at two Charlotte area stores

September 21, 2015

(The Charlotte Observer)

In an increasingly competitive grocery market, Harris Teeter is adding gas stations at stores in Harrisburg and Fort Mill, S.C. The Matthews-based grocer, which was acquired last year by Cincinnati-based Kroger, isn't saying if more gas stations are planned.

BofA cuts pay for IT contractors

September 18, 2015

(The Charlotte Observer)

Contract information-technology workers for Charlotte-based Bank of America said they were told to expect a 10% pay cut and a required two-week, unpaid furlough. A BofA spokesman said the changes affect contractors affiliated with the company's global technology and operations unit.