Charlotte

Report shows Charlotte home prices post biggest annual gain in 26 years

January 2, 2014

(The Charlotte Observer)

Charlotte home prices in October increased 8.8% over the previous year, the market's biggest annual gain since 1987. October was the region's 20th consecutive month of year-over-year price increases.

Officials see Charlotte as major logistics hub with opening of new railyard

December 31, 2013

(The Charlotte Observer)

Economic development leaders hope a new railyard at Charlotte Douglas International Airport will attract more manufacturing, trucking and warehouse companies to the area. The new intermodal yard was designed to handle 200,000 transfers a year, with parking spaces for 1,331 trucks.

Wells Fargo settles Fannie Mae mortgage case for $591 million

December 31, 2013

(The Charlotte Observer)

Wells Fargo announced it will pay $541 million to Fannie Mae in a settlement over bad mortgage loans the bank sold it before 2009. The amount is part of a $591 million total settlement reached between the San Francisco-based bank and the government-sponsored mortgage lender.

Race team expanding in Kannapolis

December 31, 2013

(The Independent Tribune, Concord)

Stewart-Haas Racing is investing $6 million in a 125,000-square-foot expansion at its Kannapolis headquarters, as it expands from three to four Sprint Cup race teams in 2014. The new center will house research and development, a pit fitness and training center and garage space.

Charlotte's WTVI still years away from getting back in the black

December 30, 2013

(The Charlotte Observer)

Charlotte's public television station, which was taken over in 2012 by Central Piedmont Community College, says it is still three years away from being self-supporting. WTVI's losses tripled in the fiscal year ending in July 2013, largely due to consolidation with CPCC's former cable operation and higher fees paid to PBS to bring back top-tier programming, which the station had cut in 2004.

Piedmont Gas reports 12% increase in 2013 net income

December 24, 2013

(The Charlotte Observer)

Piedmont Natural Gas reported it earned $134.4 million in profit on almost $1.3 billion in revenues for its fiscal year which ended Oct. 31. That's a 12% increase in net income over the previous year for the Charlotte-based utility.

Stanly County composite-decking manufacturer to expand, create 25 jobs

December 24, 2013

(The Charlotte Observer)

Fiber Composites LLC, which operates as Fiberon, will invest $3.8 million and create 25 new jobs over three years in an expansion of its manufacturing plant in New London. The privately-owned company, which employs 324 in North Carolina, makes composite and PVC decking, railing and fencing.

Former Gastonia bank building to become luxury hotel

December 24, 2013

(The Charlotte Observer)

The 100-year-old Lawyers Building in downtown Gastonia will be renovated as an upscale hotel. Developer Nathan Kirby said he will announce an affiliation with a nationally recognized brand at a groundbreaking ceremony in January. The hotel, which will have 31 rooms and a full-service restaurant, is located a half-block from Gastonia's convention center and should open in September.

Electrolux to add 810 jobs in Charlotte

December 23, 2013

(The Charlotte Observer)

Swedish appliance-maker Electrolux will double its workforce in Charlotte, adding 810 workers and spending $85 million on a 375,000-square-foot building adjacent to its North American headquarters in the University area. The new jobs will be in a range of fields, including research and development, IT and finance and will pay an average wage of $100,000.

New Charlotte Hornets logo revealed

December 23, 2013

(The Charlotte Observer)

The new Charlotte Hornets logo was revealed at the Charlotte Bobcats game on Saturday, bringing back the team's original colors of teal and purple but with a slightly tougher look. The team also announced that mascot Hugo will return when the Bobcats become the Hornets again next season.

Orr will retire from Charlotte Airport Commission

December 20, 2013

(The Charlotte Observer)

Jerry Orr will retire as executive director of the Charlotte Airport Commission effective Dec. 31, he told the commission at its second-ever meeting Thursday night. Orr worked at Charlotte Douglas International Airport for nearly 40 years, serving as executive director from 1989 until July 18, when state legislature passed a law taking control of the airport away from the Charlotte City Council.

Statesville man indicted in $44 million Ponzi scheme

December 20, 2013

(The Charlotte Observer)

Daniel Harold Williford was indicted by a federal grand jury on Wednesday for his involvement in a $44 million Ponzi scheme that defrauded more than 200 investors between January 2007 and July.

Charlotte mayor working to improve city's relationship with state lawmakers

December 19, 2013

(The Charlotte Observer)

Newly elected Mayor Patrick Cannon is making efforts to repair relationships between the Democratic-led city of Charlotte and the state legislature, which is controlled by a Republican majority.

Resignations precede second meeting of Charlotte airport commission

December 18, 2013

(The Charlotte Observer)

A Gaston County representative serving on the Charlotte Airport Commission has resigned, as has Johnny Harris, a Charlotte real estate developer who served on the commission's oversight committee. The group will hold its second meeting Thursday night, when it is expected to decide whether or not to retain longtime aviation director Jerry Orr.

Rate increase approved for Piedmont Natural Gas

December 18, 2013

(The Charlotte Observer)

The N.C. Utilities Commission approved a 3.6% rate hike for Piedmont Natural Gas Co. which will increase customers' residential gas bills by $2.50 a month beginning in January. The commission said reductions in fuel costs and other adjustments will offset the rate increase, and customers in Charlotte and other towns serviced by Piedmont should end up paying less overall in 2014.

Allegiant Air begins passenger flights from Concord this week

December 18, 2013

(The Independent Tribune, Concord)

Allegiant Air will begin flights from Orlando, Fla. to Concord Regional Airport on Friday, the airport's first commercial passenger service. Allegiant is a Las Vegas-based airline that flies from airports at smaller, underserved cities to popular vacation destinations and now serves 99 airports across the country.

Mecklenburg County names Diorio as its first female manager

December 18, 2013

(The Charlotte Observer)

Mecklenburg County commissioners voted unanimously to make Assistant County Manager Dena Diorio the new county manager effective Jan. 1., the first female to hold the position. She will replace Harry Jones, who was fired in May after thirteen years in the top position.

Chinese manufacturer to open Charlotte-area yarn plant, create 500 jobs

December 17, 2013

(The Charlotte Observer)

A Chinese textile company will invest $218 million and create 501 jobs at a new yarn factory in Lancaster County, S.C. Keer Group will begin construction on the plant in February, and also will open an office in downtown Charlotte for engineering, financial and upper management functions.

Charlotte-based tech startup secures $6 million in venture capital

December 17, 2013

(The Charlotte Observer)

Charlotte-based Internet startup Passport Parking, which offers a cloud-based command center for parking management, announced it is getting $6 million from its first round of venture financing. The technology startup has a presence in 35 states, as well as in Spain and Australia.

Accenture announces 45 layoffs in Charlotte

December 17, 2013

(The Charlotte Observer)

Accenture, a Dublin-based outsourcing company which employs 1,500 in the Charlotte area, said it has laid off 45 of those workers, about 3% of the local workforce. The affected positions were in mortgage-processing, which has experienced a slowdown as interest rates have risen and fewer borrowers are refinancing.