Charlotte

Shelby offers historic-property designation to brew-pub building

December 22, 2015

(The Shelby Star)

Shelby's city council approved historic property designations for two downtown buildings, including one that houses the new Newgrass Brewing Co. The beer-pub is in the former Hudson Department Store building, which is still owned by the Hudson family. Designees can receive 50% reductions on property taxes.

CBRE says Charlotte real-estate market to remain robust

December 22, 2015

(The Charlotte Observer)

Real estate brokerage CBRE expects Charlotte commercial real estate to remain strong through 2016, according to its annual report. Higher rents for office and industrial space and residential properties are likely even as development approaches record levels in the area.

 

New Charlotte city council giving city manager close look

December 22, 2015

 (The Charlotte Observer)


Read more here: http://www.charlotteobserver.com/news/local/article51143635.html#storylink=cpy

 

Bankers association pushing literacy message to students

December 22, 2015

(The Charlotte Observer)

The North Carolina Bankers Association is starting a program to send bankers to the state's schools to teach financial literacy such as budgeting and interest compounding. The hope is to also improve the students' perception of bankers. Many students have a negative perception of bankers, according to the association.


Read more here: http://www.charlotteobserver.com/news/business/banking/bank-watch-blog/article50893815.html#storylink=cpy

Bank of America employees, families giving big to politicians

December 22, 2015

Individuals connected to Bank of America have been among the top contributors to presidential candidates through Sept. 30, with employees and immediate family members giving $242,575 to the candidates’ campaign committees. That’s the third-highest among all U.S. companies and organizations, according to the most recent federal data from the Center for Responsive Politics. Donations from individuals tied to New York-based investment bank Goldman Sachs rank first at $401,109, while Florida-based personal injury firm Morgan & Morgan gave $280,326. In the 2012 presidential election, when people associated with Bank of America ranked second for donations, trailing only employees for the University of California system and their families.


Read more here: http://www.charlotteobserver.com/news/business/banking/article50825755.html#storylink=cpy

Charlotte's DealCloud raises $5.3M, names new CEO

December 18, 2015

(The Charlotte Observer)

DealCloud, a Charlotte-based software company that provides a platform for streamlining mergers and acquisitions, completed a $5.3 million financing round and named Rick Kushel chief executive officer. Kushel is the former CEO of iLevel Solutions. DealCloud was founded in 2010 by Ben Harrison and Rob Cummings, previously with Falfurrias Capital Partners.

Investors strike down management change at Pittenger's land company

December 18, 2015

(The Charlotte Observer)

Pittenger Land Investments had sought to transfer management of its 52 limited liability companies to a subsidiary of Charlotte-based South Street Partners. The real-estate company plans to meet with key investors to devise a new plan, which could involve a revised agreement with South Street.

American Airlines adds three routes from Charlotte

December 17, 2015

(The Charlotte Observer)

American Airlines will add a daily nonstop flight from Charlotte to Madison, Wis., starting April 5 and weekly nonstop flights to the Caribbean island of Curacao and Puerto Plata in the Dominican Republic beginning Saturday.

Wells Fargo economists predict strong growth in the year ahead

December 17, 2015

(The Charlotte Observer)

Nonfarm employment in North Carolina is expected to rise 2.6% in 2016, according to a report from Wells Fargo Securities. Economists predict the state's unemployment rate will drop but still remain higher than the national average.

Charlotte restaurant boycotts Anheuser-Busch products

December 16, 2015

(The Charlotte Observer)

Diners at Queen City Q, a Charlotte restaurant chain with three locations and another planned, will no longer be able to order a Budweiser or Corona to wash down their meals. The chain is boycotting products associated with AB InBev after a Wall Street Journal story suggested the company rewards distributors who focus on its beers while limiting beers from craft brewers

Mecklenburg GOP chairman resigns

December 16, 2015

(The Charlotte Observer)

Curtis Watkins abruptly resigned Tuesday, two days after N.C. Sen. Bob Rucho asked Republican Party officials to investigate him for allegedly trying to recruit someone to run against Rep. Mike Hager of Rutherford County. Hager is one of the largest opponents of the state's renewable-energy mandate. Watkins is the founder of SparkTank Advisors, an energy consulting company.

Corning to buy power from Duke Energy solar farm

December 14, 2015

(The Charlotte Observer)

Corning will purchase 62.5% of power generated at a solar farm Duke Energy is building in eastern North Carolina. The facility, announced in September, will be the largest solar farm east of the Mississippi River, according to Duke. Glass- and fiber-maker Corning employs about 3,000 people in North Carolina and recently said it is adding 150 new jobs in Charlotte.
More on solar: Rural NC town mocked on social media after passing solar moratorium

Google honors Charlotte as a top eCity

December 15, 2015

(The Charlotte Observer)

Charlotte is among 50 winners of Google's eCities awards, which honors cities with strong online business communities. Winning cities were selected based on small businesses' use the Web to attract new customers, connect with clients and grow local economies. Cary and Cornelius were previous winners of the annual award.

SPX sells business unit for $48M

December 15, 2015

(The Charlotte Observer)

SPX will sell its dry cooling business, which represents about 10% of its power segment, to an India-based company for about $48 million. The deal is expected to close in the first half of 2016. The manufacturer employs about 350 people at its Charlotte headquarters.

Condos, corporate HQ proposed for Kannapolis revitalization

December 15, 2015

(Independent Tribune, Concord)

The city of Kannapolis's downtown redevelopment plan could include mixed-use buildings with retail, condos, apartments and an educational institute. Kannapolis owns about 750,000 square feet of downtown space and is working with UNC School of Government's Development Finance Initiative to reinvigorate the former textile town.

Concord approves incentives for $66M FedEx distribution center

December 14, 2015

(The Charlotte Observer)

A new FedEx office and distribution center is expected to bring 55 full-time and 309 part-time workers to Concord's International Business Park over the next five years. Concord is becoming a hub for distribution facilities: FedEx already has a location in the office park, and Amazon.com employs about 360 at a sorting center near Concord Regional Airport.

Electrolux chairman stands behind CEO after failed merger

December 14, 2015

(The Charlotte Observer)

Electrolux CEO Keith McLoughlin's job appears to be safe despite the Swedish company's failed effort to buy General Electric's appliance division. McLoughlin is also serving as interim CEO of Electrolux's North American division, which is based in Charlotte.

Duke Energy combines chairman, CEO roles

December 11, 2015

(The Charlotte Observer)

Duke Energy CEO Lynn Good will become chairman Jan. 1, the company said Thursday. Current chairman Ann Maynard Gray will remain on the board. Piedmont Natural Gas CEO Tom Skains will become a director after Duke completes its $4.9 billion acquisition of the Charlotte-based energy company.

Sycamore Partners completes $3B buyout of Belk

December 11, 2015

(The Charlotte Observer)

Charlotte-based Belk is no longer the nation's largest family-owned department store chain. New York-based private equity firm Sycamore Partners said Thursday it has completed its purchase of the 300-store company. Belk's headquarters will remain in Charlotte, and Tim Belk will remain CEO.

Tyson Foods considers $5M Monroe expansion

December 11, 2015

(The Charlotte Observer)

Local governments approved $225,000 in incentives for Tyson Foods to expand in Union County. The chicken processor, which employs more than 1,500 people in Monroe, is considering a $5 million investment that would add 50 jobs.