Charlotte

Top executive leaves Family Dollar after profits decline

January 10, 2014

(The Charlotte Observer)

Michael Bloom, chief operating officer of Matthews-based Family Dollar since 2011, has left the company. The discount retailer reported a 3% decline in profits for the 3-month period ending Nov. 30 and lowered its earnings expectations for the 2nd quarter of 2014 and for the year.  CEO Howard Levine said that many of the company's low-income customers are still struggling in today's economy.

Electrolux to expand oven plant in Memphis

January 10, 2014

(The Charlotte Observer)

Less than a month after announcing it will add 810 new jobs at its North American headquarters in Charlotte, Electrolux said it will hire 650 workers at its kitchen oven plant in Memphis, Tenn.  The company expects to employ 1,200 there eventually and produce 600,000 ovens annually.

Luxury real estate firm opens office in Charlotte's SouthPark neighborhood

January 10, 2014

(The Charlotte Observer)

Naples, Fla.-based Premier Sotheby's International Realty has opened an office in Charlotte, its first in North Carolina. President and CEO Judy Green said the Charlotte location made sense because many of the luxury real estate firm's customers in Florida live in North Carolina during the summer.

Charlotte to decide whether to bid on 2016 RNC

January 9, 2014

(The Charlotte Observer)

Charlotte is among 27 cities invited to bid on hosting the 2016 Republican National Convention, and city leaders must decide by Feb. 26 if the national exposure and economic impact from the event would be great enough to pursue.

Texas hamburger chain exec named new Bojangles' CEO

January 9, 2014

(The Charlotte Observer)

Bojangles' Restaurants named Clifton Rutledge, chief operating officer of Texas-based Whataburger, its new CEO, replacing Randy Kibler who is retiring. The Charlotte-based restaurant chain announced that Rutledge will focus on expanding in the Southeast and increasing sales when he takes his new position on Jan. 24.

Norfolk Southern railyard uniquely situated at Charlotte airport

January 9, 2014

(The Charlotte Observer)

Norfolk Southern's new $92 million intermodal railyard at Charlotte Douglas International Airport will be able to accomodate 200,000 cargo containers a year, with space for 1,331 trucks. The railyard, which the city hopes will bring new businesses to the area, replaces Norfolk Southern's current transfer site north of uptown Charlotte.  

Pittenger requests delay for implementation of qualified mortgage rules

January 9, 2014

(The Charlotte Observer)

Rep. Robert Pittenger called for a one-year delay of new federal mortgage rules designed to prevent risky loans that contributed to the recent financial crisis. The Charlotte Republican says the rules will restrict access to loans and will have a devastating effect on the housing industry. 

Duke Energy sets record for electricity demand in winter

January 8, 2014

(The Charlotte Observer)

Charlotte-based Duke Energy asked its customers to conserve energy Tuesday, after extreme cold led to record electricity demand for winter. Duke said that while all its power plants were running, high demand could still overload circuits and cause equipment to fail, which could in turn lead to power outages.

Carolina Panthers reveal renovation plan for 2014

January 8, 2014

(The Charlotte Observer)

The Carolina Panthers disclosed details of a $65 million renovation plan, largely financed by the city of Charlotte, which includes four new escalator bays, two new high-definition video boards and larger ribbon boards on the stadium's interior. Renovations are scheduled to begin in two weeks and should be completed July 1.

Belk hires consultant to improve website, mobile shopping

January 8, 2014

(The Charlotte Observer)

Charlotte-based retailer Belk has hired consultant Accenture to help improve its e-commerce and customer service programs, the company said this week. On Black Friday, Belk's website crashed due to high traffic volume, though the company has spent millions updating its online retail systems over the past several years.

Time Warner closes deal to purchase Charlotte's DukeNet

January 7, 2014

(The Charlotte Observer)

Time Warner Cable announced it has completed its acquisition of Charlotte-based DukeNet Communications, a $600 million deal announced in October. The purchase expands Time Warner's fiber-optic network by 8,700 miles, allowing it to offer business customers in the Southeast voice, high-speed Internet and cloud-enabled hosting services.

Charlotte's Park Sterling Bank expands into Virginia

January 7, 2014

(The Charlotte Observer)

Charlotte-based Park Sterling Bank announced it is entering the Virginia market, hiring five bankers from Charlottesville, Va.-based StellarOne Bank to head commercial lending, wealth management and mortgage banking divisions.

Help wanted in Charlotte: Nurses, truckers and IT professionals

January 6, 2014

(The Charlotte Observer)

Based on data from the North Carolina Department of Commerce, registered nurses, truck drivers and information technology professionals including computer analysts and software developers top the list of online job postings in the Charlotte area for the most recent 90-day period.

Public documents reveal maintenance issues for Charlotte bus-maker DesignLine

January 6, 2014

(The Charlotte Observer)

Documents reveal new information about the troubles of Charlotte bus manufacturer DesignLine, which sold buses to Charlotte Douglas International Airport beginning in 2007, including braking problems, a fire on one of its buses and the airport's difficulty obtaining parts for repairs.

Charlotte doctors accuse hospital chain of Medicare fraud, kickback offers

January 3, 2014

(The Charlotte Observer)

Two Charlotte emergency-room doctors have filed a lawsuit against hospitals in Mooresville and Statesville and their owner, Health Management Associates, claiming the for-profit hospital chain committed Medicare fraud and offered them kickbacks to order unnecessary tests and admit more patients.

Charlotte restaurant group purchases its first U.S. Hooters locations

January 3, 2014

(The Charlotte Observer)

Hooters franchisee Chanticleer Holdings announced it will acquire its first Hooters locations in the U.S., one each in Oregon and in Washington state. The Charlotte-based company has been diversifying its portfolio of restaurants, recently buying Charlotte-based American Roadside Burgers and a majority stake in the companies that own Just Fresh cafes.

First Bank's Ocheltree to lead Lincolnton's Carolina Trust Bank

January 2, 2014

(The Gaston Gazette)

Lincolnton-based Carolina Trust Bank appointed Jerry L. Ocheltree as its president and chief executive officer. Ocheltree, formerly CEO of Troy-based First Bank, assumed the title effective Jan. 1. Carolina Trust has seven full-service branches in Western N.C. as well as a loan production office in Hickory.

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.