Charlotte

Cabarrus to consider incentives for $12.5M project

April 20, 2015

(The Independent Tribune, Concord)

Cabarrus County commissioners will hold a public hearing Monday on whether to provide incentives for an unidentified company to invest $12.5 million and create 176 jobs in Harrisburg.

Airlines, CLT airport officials defend tax cap for jet fuel

April 20, 2015

(The Charlotte Observer)

Officials from American Airlines and Charlotte Douglas International Airport said Friday that extending the state's cap on sales tax for jet fuel is needed to keep costs competitive and for Charlotte to maintain its AA hub. The state House has passed a bill that would extend the cap, but the Senate introduced a competing bill that doesn't include the tax break.

Tesla set to open Charlotte area store

April 20, 2015

(The Charlotte Observer)

California-based Tesla will open a store and service center in Matthews this week. It's the second North Carolina store for the high-end electric car manufacturer. Tesla's other N.C. store is in Raleigh.

Specialty grocer to open at Charlotte's SouthPark mall

April 17, 2015

(The Charlotte Observer)

Reid's Fine Foods will open its third Charlotte-area location in an 8,200-square-foot space at SouthPark mall. The location, which is expected to open by Oct. 1, will feature indoor and outdoor dining. Owner Tom Coker says the specialty-foods retailer hopes to expand outside of Charlotte into Winston-Salem, the Triangle and South Carolina.

BofA reports $3.4 billion in first-quarter profit

April 16, 2015

(The Charlotte Observer)

Bank of America reported profit of $3.4 billion in the first quarter, compared with a loss of $276 million a year ago. Total revenue fell 6% to $21.4 billion. CEO Brian Moynihan said Terry Laughlin, president of strategic initiatives, will lead the resubmission of the bank's capital plan, which is due to the Federal Reserve by Sept. 30.

Carolinas HealthCare eliminates No. 2 exec position

April 15, 2015

(The Charlotte Observer)

Charlotte-based Carolinas HealthCare System said Tuesday it will eliminate the position of president and chief operating officer effective May 31. Joe Piemont, 60, has worked for the Charlotte-based health system for 18 years and received $3.5 million in compensation in 2014.

Property revaluation adds to Charlotte's budget shortfall

April 15, 2015

(The Charlotte Observer)

A recent commercial property revaluation showed significant reductions that have cost the city of Charlotte about $14 million in property taxes. Some property owners, meanwhile, will save hundreds of thousands of dollars on their tax bills.

Duke Energy hearing delayed

April 15, 2015

(WRAL.com)

A U.S. District Court judge approved a one-month delay of Duke Energy's hearing for violations of the Clean Water Act at five North Carolina power plants. The Charlotte-based utility said in February it would pay $102 million in fines and restitution over the pollution.

Decker joins UNCC board of trustees

April 14, 2015

(The Charlotte Observer)

Former Duke Energy executive and state Commerce Secretary Sharon Decker will join UNC Charlotte's board of trustees July 1. Decker also serves on the boards of Matthews-based Family Dollar Stores and Charlotte-based Coca-Cola Bottling Co. Consolidated.

Charlotte City Council approves new seating for coliseum

April 14, 2015

(The Charlotte Observer)

The Charlotte City Coucil approved spending $975,000 to replace existing seats at Bojangles' Coliseum with larger ones. The upgrade is part of a $16 million, two-year renovation plan. The Charlotte Checkers hockey team will move their games from Time Warner Cable Arena to the coliseum in 2017.

Duke Energy increased contributions to Republican Governors Association

April 13, 2015

(The Charlotte Observer)

Duke Energy donated $3.05 million to the Republican Governors Association in 2014 – more than 10 times the utility's previous highest annual contribution to the group, which backed Gov. Pat McCrory's 2012 campaign.

Chatham, Lee counties hold hearings on coal-ash storage plans

April 13, 2015

(The News & Observer, Raleigh)

Two public hearings this week will allow residents of Lee and Chatham counties to speak out about Duke Energy's proposal to store up to 20 million tons of coal ash in local landfills.

Novant, BCBS offer 'bundled payment' for knee surgeries

April 13, 2015

(The Charlotte Observer)

Novant Health will offer a bundled-payment option for knee-replacement surgery that includes doctors' office visits and physical therapy. Under the arrangement, which is only available to Blue Cross and Blue Shield of North Carolina customers, patients will receive one bill for services related to the procedure.

Bojangles' IPO could alter growth plans

April 10, 2015

(The Charlotte Observer)

Charlotte-based Bojangles' says it can double its presence in the Southeast, where it now operates more than 600 restaurants, but will it feel pressure to expand beyond the region once it becomes a public company?

Charlotte's Duke Energy appeals $25M fine

April 10, 2015

(The News & Observer, Raleigh)

Duke Energy filed an appeal Thursday requesting that $25.1 million in fines over groundwater contamination at its Sutton power plant in Wilmington be dismissed. The fines, imposed last month by the N.C. Department of Environment and Natural Resources, set a state record as the largest-ever penalty for environmental damage.

Peele out as SunTrust's Charlotte region president

April 10, 2015

(The Charlotte Observer)

Bill Peele has left his position as president of the Charlotte region for Atlanta-based SunTrust Banks. The company declined to provide more details about his departure.

CEO of Charlotte-based Electrolux North America resigns

April 9, 2015

(The Charlotte Observer)

Jack Truong has resigned as CEO of Electrolux Major Appliances North America. The company said Truong left to pursue "other interests." The Swedish appliance-maker moved its North American headquarters to Charlotte in 2010 and expects to employ 1,600 people there by the end of 2017.
Related: Electrolux issues profit warning for North America unit

Family Dollar 2Q earnings fall, but beat expectations

April 9, 2015

(The Charlotte Observer)

Matthews-based Family Dollar Stores reported second quarter earnings of 67 cents a share, compared with 80 cents a share for the same period a year ago. Excluding merger-related costs, the earnings were higher than analysts' projections. Sales for the quarter rose 3% to $2.8 million.

Dollar Tree will sell 340 Family Dollar retail stores

April 8, 2015

(The Charlotte Observer)

Dollar Tree said Tuesday it have to sell about 340 Family Dollar stores to comply with the Federal Trade Commission in completing its $8.5 billion acquisition of the Matthews-based retailer. Chesapeake, Va.-based Dollar Tree had originally reported it would need to divest about 300 stores. The deal is expected to close in May.

Transportation company adding 40 jobs in Charlotte

April 8, 2015

(The Charlotte Observer)

Total Quality Logistics will add 40 jobs in Charlotte by year-end as part of a companywide expansion. The Cincinnati-based freight brokerage firm employs about 70 people in Charlotte. Most of the new jobs will be sales positions.