Charlotte

Electrolux to acquire GE's appliance business for $3.3 billion

September 8, 2014

(WRAL.com)

Electrolux will pay $3.3 billion for General Electric's appliances division. Based in Louisville, Ky., GE's appliance business employs 12,000 people at nine factories. Stockholm, Sweden-based Electrolux, which has its North American headquarters in Charlotte, is the second largest appliance manufacturer in the world, behind Benton Harbor, Mich.-based Whirlpool.

Family Dollar rejects Dollar General's revised bid

September 8, 2014

(The Charlotte Observer)

Matthews-based Family Dollar rejected Dollar General's revised $9.1 billion buyout offer and accelerated the timeline of its pending deal with Chesapeake, Va.-based Dollar Tree. Dollar Tree is expected to complete its acquisition of Family Dollar by the end of November, rather than early next year as previously announced.

Wells Fargo could add more branches in Charlotte, Triangle

September 8, 2014

(The Charlotte Observer)

Wells Fargo may add bankers and branches in the Charlotte, Raleigh and Charleston, S.C. markets over the next three to five years. Rick Redden, regional president for the Carolinas, says those regions are adding new households at a faster rate than the U.S. average.

Electrolux said to be near $2.5 billion deal to buy GE's appliance business

September 5, 2014

(The Charlotte Observer)

Electrolux is close to a deal to buy General Electric's appliance business for $2.5 billion, Reuters reports. The Swedish appliance maker has its North American headquarters in Charlotte, where it is undergoing an expansion that will double the size of local operations.

Price of Charlotte streetcar project grows to $150 million

September 5, 2014

(The Charlotte Observer)

The anticipated cost of Charlotte's controversial 2.5-mile streetcar extension has risen from $126 million to $150 million, largely due to inflation. The City Council will vote Monday on whether to apply for a grant from the U.S. Department of Transportation that would cover half of the cost of the project.

McCrory to donate political money tied to paving company

September 5, 2014

(Winston-Salem Journal)

Gov. Pat McCrory says he will give to charity more than $10,000 in campaign contributions obtained from a 2012 fundraiser hosted by the owners of Monroe-based Boggs Paving. Company President Carl "Drew" Boggs pleaded guilty on Aug. 28 to charges he received $88 million in government contracts by exaggerating the role a minority contractor would play in the work.

Decker to face tough vote on Family Dollar buyout offer

September 4, 2014

(The Charlotte Observer)

As the state's top jobs recruiter, N.C. Commerce Secretary Sharon Decker, a member of Family Dollar's board of directors since 1999, will face a tough decision when deciding whether to support Dollar General's $9.1 billion offer to acquire the Matthews-based retailer. The deal could put about 1,400 jobs at the company's headquarters at risk. 

Report: Icahn sells all of his Family Dollar shares

September 4, 2014

(The Charlotte Observer)

Carl Icahn has sold all of his shares in Matthews-based Family Dollar Stores, according to a Reuters report. The report says Icahn, who encouraged Family Dollar to pursue a sale to Goodlettsville, Tenn.-based Dollar General, made a profit of about $200 million.

More lawsuits filed against Duke Energy over coal-ash practices

September 4, 2014

(The Charlotte Observer)

A group of environmental advocates including New York-based Waterkeeper Alliance filed more lawsuits against Charlotte-based Duke Energy on Wednesday. The lawsuits cite problems with coal-ash storage and groundwater contamination at the utility's power plants in Rowan, Chatham and Wayne counties.

Kellogg to begin layoffs at Charlotte plant in November

September 3, 2014

(The Charlotte Observer)

Kellogg Co. will begin the first phase of layoffs at its snack plant near uptown Charlotte in November. The Battle Creek, Mich.-based company announced the plant closure and layoffs in February. A total of 161 employees will lose their jobs.

Chiquita fires back at Brazilian companies in shareholder letter

September 3, 2014

(The Charlotte Observer)

In a letter to shareholders Tuesday, Charlotte-based Chiquita Brands International said Brazilian companies Cutrale and Safra have made "inaccurate and misleading public statements" in an effort to convince shareholders to vote down its pending merger with Dublin-based Fyffes.

American Airlines begins new Midwest flights

September 3, 2014

(The Charlotte Observer)

American Airlines begins twice-daily flights from Charlotte Douglas International Airport to Grand Rapids, Mich. Wednesday under the US Airways Express brand. Daily flights to Fort Wayne, Ind. and Evansville, Ind. will begin Oct. 2.

Dollar General raises bid for Family Dollar to $9.1 billion

September 2, 2014

(The Charlotte Observer)

Dollar General has raised its bid for Matthews-based Family Dollar Stores to $9.1 billion and has offered to pay a reverse-termination fee if the deal falls through due to antitrust concerns. Based on its latest offer, the Goodlettsville, Tenn.-based retailer would pay $80 a share, higher than its original bid of $78.50 a share and Dollar Tree's $74.50 a share bid. 

Construction ramps up on $1.1 billion Charlotte light-rail extension

September 2, 2014

(The Charlotte Observer)

City officials say a 9.3-mile extension of Charlotte's Blue Line light rail, expected to open in 2017, will generate 10,000 housing units, four million square feet of office space and 1.3 million square feet of retail. The new corridor will extend north from uptown to UNC Charlotte.

Novant partners with Campbell University to train medical students

September 2, 2014

(Winston-Salem Journal)

Campbell University announced a partnership with Winston-Salem-based Novant Health to help train medical students enrolled in its new School of Osteopathic Medicine, established to increase the number of doctors in rural areas. Novant's Rowan Medical Center in Salisbury will serve as a training center.

NC would have paid $107 million for Toyota

August 29, 2014

(The Charlotte Observer)

North Carolina was willing to offer Toyota an incentive package worth $107 million to bring its North American headquarters − and 2,900 high-paying jobs − to Charlotte. The automaker instead chose Plano, Texas, where the state provided $40 million but has lower taxes and direct flights to Japan.

'Banshee' leaving Charlotte due to loss of tax credit

August 29, 2014

(WCNC.com)

Officials from "Banshee," the Cinemax television series that has filmed three seasons in Charlotte, say the show will move production to New Orleans due to the pending expiration of the state's film incentive program.

Dollar General still wants to buy Family Dollar

August 29, 2014

(The Charlotte Observer)

Dollar General CEO Rick Dreiling told investors Thursday he is not giving up on efforts to acquire Matthews-based Family Dollar. Analysts say the Goodlettsville, Tenn.-based retailer could increase its offer or try to convince Family Dollar shareholders to block the company's pending deal with Chesapeake, Va.-based Dollar Tree.

Monroe paving company CEO pleads guilty to fraud

August 29, 2014

(The Charlotte Observer)

Carl "Drew" Boggs, CEO of Monroe-based Boggs Paving Inc., pleaded guilty Thursday to defrauding state and federal governments. Boggs was charged with receiving $87 million in government contracts by exaggerating the role a minority contractor, also involved in the scheme, would play in the work.

Audits show lack of oversight at Charlotte Douglas airport

August 28, 2014

(The Charlotte Observer)

External auditors hired by the city of Charlotte found lax oversight at Charlotte Douglas International Airport, the nation's eighth-busiest. Interim Aviation Director Brent Cagle attributes the problems to the airport's rapid growth over the past decade.