Charlotte

CPI Security expanding in Charlotte, adding 300 workers

August 7, 2015

(The Charlotte Observer)

CPI Security Systems will break ground Friday on a 120,000-square-foot facility adjacent to its headquarters in Charlotte. The company plans to add 300 jobs to its 540 in Charlotte over the next two years.

BofA shuffles downtown Charlotte workers

August 7, 2015

(The Charlotte Observer)

Bank of America says no workers will be laid off when it vacates four floors – about 85,000 square feet – of 101 Independence Center in downtown Charlotte. The bank says displaced workers will move to other downtown offices. BofA will still be the anchor tenant of the 20-story office building.

Charlotte office tower to break ground Aug. 14

August 6, 2015

(The Charlotte Observer)

Portman Holdings and Trinity Partners will break ground Aug. 14 on a 19-story office tower next to the Westin hotel in downtown Charlotte. Construction on the 370,000-square-foot building, named 615 South College, is expected to be complete by late 2016.
More Charlotte development: Waverly breaks ground; 90-acre mixed-use development is 50% pre-leased

Premier to acquire Pittsburgh company for $400M

August 5, 2015

(The Charlotte Observer)

Premier will pay about $400 million to acquire Pittsburgh-based CECity, which offers cloud-based services for health care organizations, including electronic reporting and continuing education. Charlotte-based Premier will pay $250 million in cash and borrow $150 million from revolving credit.
SNEAK PEEK: Read more about Premier and CEO Susan DeVore in our August cover story

Grubb Properties plans more apartments aimed at millennials

August 5, 2015

(The Charlotte Observer)

Charlotte-based Grubb Properties and partner Foothills Capital plan to build up to 450 apartments on 10.7 acres near Park Road Shopping Center in Charlotte. Plans call for a mixed-use development that could include a hotel and retail shops at the site, which is now occupied by two office buildings.
Read more about Grubb Properties in our July cover story, "Staying on track"

BofA ranks last in financial performance

August 4, 2015

(The Charlotte Observer)

For the fourth year in a row, Bank of America ranked last in financial performance among the 20 largest U.S. banks, according to Bank Director magazine. The annual scorecard bases its rankings on the previous year's profitability, capitalization and asset quality. BB&T ranked seventh, while Wells Fargo ranked fourth.

Cabarrus considers incentives for $56 million project

August 4, 2015

(The Independent Tribune)

At its Monday meeting, Cabarrus County commissioners were expected to vote on incentives for a unnamed manufacturer to invest $56 million in a 200,000-square-foot facility near Midland.

Charlotte's LendingTree posts record revenue in 2nd quarter

August 4, 2015

(The Charlotte Observer)

Charlotte-based LendingTree posted a profit of $4.7 million in the second quarter, compared with a loss of $248,000 a year ago. Revenue reached a record $55.1 million, up 31% from a year ago.

Charlotte developer Crosland dies at 86

August 3, 2015

(The Charlotte Observer)

Prominent Charlotte real-estate developer John Crosland Jr. died Sunday after a long battle with Parkinson's disease.

BofA to hold special vote on chairman issue

August 3, 2015

(The Charlotte Observer)

Bank of America will hold a special meeting for shareholders to weigh in on its decision to make CEO Brian Moynihan chairman. A date for the vote has not been determined.
Related: Latest BofA shakeup means fewer top execs in Charlotte

Red Ventures leases new space in Charlotte

July 30, 2015

(The Charlotte Observer)

Red Ventures has leased 97,599 square feet in the University area of Charlotte.The Indian Land, S.C.-based marketing company employs 400 at a nearby Charlotte location. The company announced earlier this month plans to hire 500 sales agents this summer; 40% of the jobs are expected to be in Charlotte.

All of NC meets air-quality standards

July 30, 2015

(The Charlotte Observer)

The entire state of North Carolina now meets federal air-quality standards for the first time since 1997. The EPA said Tuesday that Charlotte had met ozone standards – the last metro area in the state to do so. As a result, gas prices in the area are expected to drop.

NTE Energy breaks ground on Kings Mountain power plant

July 29, 2015

(The Shelby Star)

Florida-based NTE Energy broke ground Tuesday on a new natural-gas power plant in Kings Mountain. The plant is expected to be operational by the first quarter of 2018. The city expects to save between $7 million and $8 million a year by 2019 by purchasing energy from NTE.

Charlotte employers prepare for possible changes to overtime pay

July 29, 2015

(The Charlotte Observer)

Some Charlotte businesses are already making changes to adapt to a White House proposal that would increase the number of workers eligible for overtime pay. The Labor Department proposal would make employees earning an annual salary of $50,440 or less eligible for overtime pay.

Federal judge dismisses whistleblower lawsuit against Wells Fargo

July 29, 2015

(The Charlotte Observer)

A U.S. District Court judge dismissed a lawsuit against Wells Fargo filed by two whistleblowers, including a former employee who lives in Union County. The lawsuit alleged the bank defrauded federal agencies that loaned it money during the financial crisis.

BofA joins major US companies in $140B environmental initiative

July 28, 2015

(The Charlotte Observer)

Charlotte-based Bank of America joined 12 other major U.S. corporations in committing to decrease their carbon footprints. Apple, Coca-Cola, Goldman Sachs Group and Wal-Mart Stores also pledged to reduce emissions, reduce water consumption and increase production of renewable energy.

Sonic Automotive promotes Scott Smith to CEO

July 28, 2015

(The Charlotte Observer)

Scott Smith, 47, will replace his father Bruton Smith as CEO of Sonic Automotive. Bruton Smith, 88, will become executive chairman of the Charlotte-based auto dealership. The younger Smith was named CEO of Speedway Motorsports earlier this year.

Bojangles' names new VP of IT and strategic planning

July 28, 2015

(The Charlotte Observer)

Bojangles' named Jayson Romeo vice president of IT and strategic planning. Romeo, who brings nearly three decades of quick-service restaurant experience, was hired in 2014 as senior director of strategic management.

Catawbas in talks with Hard Rock for NC casino

July 27, 2015

(The Charlotte Observer)

Catawba Indian Nation Chief Bill Harris says the tribe is negotiating with Hard Rock International for branding of its proposed $600 million casino near Kings Mountain. Gov. Pat McCrory and other state officials have said they oppose the casino and hotel project, which the South Carolina-based tribe says could employ up to 4,000 people.

Charlotte developer to build business park on 125 acres in Concord

July 27, 2015

(The Independent Tribune, Concord)

Charlotte-based Beacon Partners plans to build a commercial business park in Concord that could encompass about 1.5 million square feet.