Charlotte

California cabinet maker to create 40 jobs in Shelby

November 25, 2015

(The Shelby Star)

Ivar's Cabinet Shop will invest $2.8 million in its first location outside of California. The 49-year-old company, which makes shelving and display cases for retailers, plans to create 40 jobs in Cleveland County over the next five years.

Florida bank to buy CommunityOne Bancorp for $350M

November 24, 2015

(The Charlotte Observer)

Capital Bank Financial Corp. will acquire Charlotte-based CommunityOne Bancorp for $350 million, pending regulatory approval. Capital Bank has $7.3 billion in assets with offices in the Carolinas, Tennessee and Virginia. Its banking operation is based in Raleigh. CommunityOne's assets total $2.4 billion.

Duke Energy wasn't Piedmont's only suitor

November 24, 2015

(The Charlotte Observer)

Charlotte-based Duke Energy outbid an unnamed company to buy Piedmont Natural Gas, according to securities filings Monday. The $6.7 billion deal, which includes $1.8 billion in debt, was negotiated within a window of about two months and appears to have been spurred by Atlanta-based Southern Co.'s plans to buy AGL Resources for $8 billion.

Electrolux CEO says appliance prices will drop after GE deal

November 20, 2015

(The Charlotte Observer)

Electrolux CEO Keith McLoughlin told a judge Thursday that his company's acquisition of GE's appliance unit will help keep prices down as the market faces increased competition from newer rivals such as Samsung and LG. The federal government is seeking to block the deal, which it says will hurt competition. Electrolux employs about 900 people at its North American headquarters in Charlotte.

More toll lanes on the way in Charlotte

November 19, 2015

(The Charlotte Observer)

Amid disputes over planned toll lanes on Interstate 77 north of the Queen City, the N.C. Department of Transportation is preparing to award a $202.9 million contract in July for toll lanes on Interstate 485 between I-77 and U.S. 74. Construction would begin in 2017 and take about two years.

PayPal looking at Charlotte for East Coast operations hub

November 19, 2015

(The Charlotte Observer)

California-based PayPal said Charlotte is among cities being considered for an East Coast operations center. The payment processing company was a subsidiary of eBay but was spun off as a separate, publicly traded company in July.

Novant Health launches Charlotte residency program

November 18, 2015

(The Charlotte Observer)

Novant Health will launch a family medicine residency program in the Charlotte region. Six medical school graduates will train at Huntersville Medical Center and a family practice clinic in Cornelius. Starting next summer, it will be the third residency program in the area; Carolinas HealthCare System runs programs in Charlotte and Concord.
Also: Novant Health breaks ground on Charlotte Orthopedic Hospital renovation, expansion

Wells Fargo moving 350 workers from Charlotte to Rock Hill, SC

November 18, 2015

(The Charlotte Observer)

Wells Fargo will move about 350 employees in its mortgage-servicing unit from downtown Charlotte to Fort Mill, S.C. No layoffs are expected.

Lowe's reports strong 3Q results

November 18, 2015

(The News & Observer, Raleigh)

Home-improvement retailer Lowe's reported third-quarter results that beat analysts' estimates. As the housing market continued to improve, revenue increased to $14.36 billion, compared with $13.68 billion a year ago. The Mooresville-based company earned $736 million compared with $585 million a year ago.

Jeld-Wen names new CEO

November 18, 2015

(The Charlotte Observer)

Jeld-Wen, the Charlotte-based window and door manufacturer, named Mark Beck president and CEO effective Nov. 30. He replaces Kirk Hachigian, who will stay on as executive chairman. Beck worked for Corning for 18 years and most recently was an executive vice president at Danaher Corp. The Wall Street Journal reported in August that Jeld-Wen is planning for a possible IPO.

BofA scores low in customer satisfaction

November 17, 2015

(The Charlotte Observer)

For the fifth year in a row, Charlotte-based Bank of America placed last among the four biggest U.S. banks on an annual survey conducted by the American Customer Satisfaction Index. Among the largest banks, Wells Fargo received 75 out of 100 possible points, followed by Citibank (73), Chase (71) and Bank of America (68).
Also: BB&T, Wells Fargo have above average customer satisfaction scores

Charlotte's Diamonds Direct bought by Blackstone

November 17, 2015

(The Charlotte Observer)

Diamonds Direct, a 20-year-old jewelry retailer and gem importer based in Charlotte, was acquired earlier this month by private-equity firm Blackstone for an undisclosed amount.

Lincoln Harris to begin construction on second SouthPark tower

November 17, 2015

(The Charlotte Observer)

Chemical company Albemarle Corp. signed a lease for 47,060 square feet at Capitol Towers in Charlotte's SouthPark neighborhood. Other companies who have signed leases for the office project are Sterling Capital Management and Dixon Hughes Goodman. Developer Lincoln Harris plans to break ground later this year on a second tower at the site, which will include a total of 480,000 square feet of office space and 35,000 square feet of retail.

GKN to invest $19.8 million in Conover auto-parts plant

November 16, 2015

(Hickory Daily Record)

GKN Sinter Metals, a division of United Kingdom-based GKN, is investing $19.8 million in its Catawba County plant and plans to add 55 new jobs to its existing 83. The company makes auto parts for companies including General Motors and Ford. GKN employs more than 2,500 people in the state.

Pittenger land firm seeks sale to Charlotte's South Street Partners

November 16, 2015

(The Charlotte Observer)

Pittenger Land Investments is asking investors to approve a sale of the company to Charlotte-based South Street Partners. U.S. Rep. Robert Pittenger transferred the company, which is under investigation by the FBI and the IRS, to his wife, Suzanne, after he was elected to Congress in 2012.

Contruction to begin Monday on I-77 toll lanes

November 13, 2015

(The Charlotte Observer)

Construction is scheduled to begin Monday on Interstate 77 toll lanes, though, in a last-minute effort to halt the project, two state legislators from the Charlotte region plan to ask Gov. Pat McCrory to cancel the project.

BofA's new general counsel will be based in Charlotte

November 13, 2015

(The Charlotte Observer)

David Leitch will become Bank of America's new general counsel beginning Jan. 1. Leitch, 54, announced last month his retirement from Ford Motor. He will be based in Charlotte.

Amid FBI probe, Pittenger calls for ethics committee review

November 13, 2015

(The Charlotte Observer)

U.S. Rep. Robert Pittenger on Thursday asked the House Ethics Committee to investigate his role at his former Charlotte-based land company. The FBI and IRS are investigating whether Pittenger improperly transferred money from Pittenger Land Investments to his 2012 congressional campaign.

Steep Charlotte rents make it hard for first-time homebuyers to save

November 12, 2015

(The Charlotte Observer)

Charlotte residents can expect to make a 20% down payment of $31,480 on a median-priced home in the Queen City, where increasing rents make it difficult for first-time homebuyers to save. Rents and mortgage payments in the Queen City are still below national averages, according to real-estate data firm Zillow.

Coke Consolidated opens $8M call center in Charlotte

November 11, 2015

(The Charlotte Observer)

Coca-Cola Bottling Consolidated unveiled its new call center in northeast Charlotte on Tuesday. The Charlotte-based company – the nation's largest independent Coke bottler – invested $8 million in the 71,280-square-foot space, where it will eventually employ 300 workers.