Charlotte

Charlotte City Council paves way for Cotswold Publix

January 21, 2015

(The Charlotte Observer)

Charlotte City Council approved a rezoning request to allow for the construction of a Publix grocery store in the Cotswold neighborhood. The developer will tear down an existing building on Randolph Road and build the new store directly across the street from an existing Harris Teeter. The council also approved a 194-unit apartment complex with 15,000 square feet of retail in Charlotte's Ballantyne area.

Citizens group seeks to halt I-77 toll lanes

January 20, 2015

(The Charlotte Observer)

A group called Widen I-77 plans to file a legal complaint Tuesday attempting to stop construction of toll lanes on Interstate-77 north of Charlotte. The N.C. DOT chose Spanish infrastructure company Cintra to build toll lanes from Charlotte's Brookshire Freeway to Exit 36 in Mooresville. Cintra will pay most of the costs of the $655 million project and will collect most of the toll revenue over 50 years.

BofA says 800,000 customers enrolled in Apple Pay

January 20, 2015

(The Charlotte Observer)

Charlotte-based Bank of America said about 800,000 of its customers − about 5% of its 17 million mobile users − signed up for Apple Pay during the first three months the service was available.

Economist: High-tech manufacturing jobs needed

January 19, 2015

(The Salisbury Post)

Economist and Associate Professor Eric Hake, who teaches at Catawba College, says the economy needs to grow more quickly and that rural areas, including Rowan County, should focus on recruiting high-tech manufacturing jobs.

40-acre solar farm proposed for Lincoln County

January 19, 2015

(The Charlotte Observer)

A public hearing will be held Feb. 2 on a proposed 40-acre solar farm in eastern Lincoln County, where Charlottesville, Va.-based HelloSage Energy has a lease option with landowners. County commissioners voted in December against a 36-acre solar farm proposed by Chapel Hill-based Strata Solar, citing potential impact on adjoining property values.

Movement Mortgage moving HQ to South Carolina

January 16, 2015

(The Charlotte Observer)

South Carolina awarded $53 million in tax incentives for Virginia Beach, Va.-based Movement Mortgage to move its headquarters and 650 jobs to Lancaster County. Founded in 2008 by former Carolina Panthers tight end Casey Crawford ("Catching a Break," July 2014), Movement will move 200 jobs from Charlotte to the new 105,000-square-foot headquarters.

Family Dollar takeover battle could end soon

January 16, 2015

(The Charlotte Observer)

Several analysts, as well as a source close to Family Dollar, say its likely Dollar Tree will win the battle to acquire the Matthews-based retailer following a statement from Dollar General on Thursday that says it needs more time to find out whether the Federal Trade Commission will block its competing bid to acquire the company.

Sealed Air to build new Charlotte headquarters

January 16, 2015

(The Charlotte Observer)

Sealed Air, which is relocating its headquarters and 1,300 jobs from New Jersey, will build a new campus in southwest Charlotte. Construction on the complex, which will include three buildings, should be complete by the end of 2016. Childress Klein will develop the project and architect HOK will handle design and engineering.

Group withdraws proposal for BofA bylaw change

January 16, 2015

(The Charlotte Observer)

New York-based Interfaith Center on Corporate Responsibility is withdrawing its request that Bank of America allow its shareholders to vote on whether chairman and CEO roles should be combined. The Charlotte-based bank agreed to produce a report on its business standards in exchange for the group withdrawing its proposal.

Chiquita moving 320 jobs out of Charlotte

January 15, 2015

(The Charlotte Observer)

Chiquita Brands International will close its Charlotte headquarters, affecting about 320 workers. The produce company was acquired earlier this month by by two Brazilian companies for about $681 million. In a letter to employees, the company said it will transition operations over the next 12 to 18 months to "be closer to our customers and operations." 
Related: Chiquita's early exit raises incentives questions

Adviser: Family Dollar shareholders should vote for Dollar Tree deal

January 15, 2015

(The Charlotte Observer)

Changing its previous recommendation, Institutional Shareholder Services advised shareholders of Family Dollar Stores to vote in favor of an $8.5 billion deal with Chesapeake, Va.-based Dollar Tree. The advisory group had previously said shareholders should delay the vote on the Dollar Tree deal to learn more about a competing bid from rival Dollar General.

Charlotte ranked third best city for job seekers

January 14, 2015

(The Charlotte Observer)

San Francisco-based consumer finance site NerdWallet used affordability, workforce growth and availability of jobs to rank the largest 100 U.S. cities. Charlotte was ranked the third best city for people looking for a job, behind No. 1 Lincoln, Neb., and No. 2 Fort Worth, Texas. Greensboro also ranked in the top 10, coming in at No. 8 on the list.

BofA cut ties with 150 hedge funds last year

January 14, 2015

(The Charlotte Observer)

Charlotte-based Bank of America cut ties with about 150 hedge funds in its prime brokerage unit in 2014, according to two people familiar with the matter. The business of servicing the hedge-fund industry has become less profitable, and federal regulatory requirements put in place to prevent another financial crisis are forcing lenders to cut costs. 

Belk reports strong holiday sales

January 14, 2015

(The Charlotte Observer)

Charlotte-based Belk reported that sales increased 5.2% during the nine-week period ending Jan. 3, compared with the same period a year ago. CEO Tim Belk said online sales increased by 44% during the holiday season.

Pharr Yarns to buy Georgia carpet manufacturer

January 14, 2015

(The Charlotte Observer)

Pharr Yarns will acquire Dalton, Ga.-based carpet manufacturer Phenix Flooring. Terms of the deal, which is expected to close in March, weren't disclosed. Based in McAdenville, textile manufacturer Pharr has supplied yarn to the carpet industry since the 1950s, President Bill Carstarphen said.

Davies tapped to lead Citigroup mortgage business

January 14, 2015

(The Charlotte Observer)

Former Wachovia and LendingTree exec C.D. Davies was named head of New York-based Citigroup's global mortgage business.

Dollar Tree CEO has harsh words for Family Dollar's Levine

January 13, 2015

(The Charlotte Observer)

The chief executive of Chesapeake, Va.-based Dollar Tree told Family Dollar Stores CEO Howard Levine he will not accept another delayed shareholder vote on his company's proposed acquisition of the Matthews-based retailer. "After two delays, we have been more than reasonable, but have reached the end of our patience," Bob Sasser wrote in a letter to Levine released Monday.

Charlotte approves deal for writing off NASCAR museum loans

January 13, 2015

(The Charlotte Observer)

The Charlotte City Council approved an agreement in which Bank of America and Wells Fargo will write off $17.6 million in debt and accrued interest from the NASCAR Hall of Fame. The city will pay the banks $5 million toward the debt, which totals more than $22 million. NASCAR also agreed to waive $3.2 million in royalties it's owed but hasn't been paid since the hall has lost money each year since it opened in 2010.

PNC Bank adding no-surcharge ATMs in Charlotte

January 13, 2015

(Winston-Salem Journal)

PNC Financial Services Group, parent of PNC Bank, will add nearly 400 no-surcharge ATMs in CVS, Walgreens and Kangaroo Express stores in the Carolinas, Alabama and Georgia. In North Carolina, most of the new ATMs will be located in CVS drugstores and Kangaroo Express stores in the Charlotte market.

Charlotte-Mecklenburg Police seeks body cameras

January 13, 2015

(The Charlotte Observer)

The Charlotte-Mecklenburg Police Department wants the city to spend $7 million on 1,400 body cameras, providing one for each officer. Charlotte City Council will vote on the purchase Jan. 26.