Charlotte

BofA settles with mortgage company over defective loans

January 6, 2015

(The Charlotte Observer)

Bank of America reached a deal with SecurityNational Mortgage to settle claims that the Utah-based bank sold it defective mortgages. SecurityNational said it has made a settlement payment to Charlotte-based BofA; the amount of the payment was not disclosed. 

Family Dollar CEO urges stockholders to support Dollar Tree deal

January 5, 2015

(The Charlotte Observer)

CEO Howard Levine once again urged Family Dollar Stores shareholders to back an $8.5 billion sale of the company to Chesapeake, Va.-based Dollar Tree. In a letter sent to stockholders on Friday, Levine said Dollar General's competing $9.1 billion bid is unlikely to be completed due to antitrust concerns. The Matthews-based retailer delayed a stockholder vote on the sale until Jan. 22.

Frye Regional names new CEO

January 5, 2015

(The Watauga Democrat)

Mark Benz was named CEO of Hickory-based Frye Regional Medical Center. Benz comes from Philadelphia-based CRC Health, where he was a regional vice president. He previously held  leadership roles with Franklin, Tenn.-based Community Health Systems.

White named chairman of Gastonia's Alliance Bank & Trust

January 5, 2015

(The Shelby Star)

Shelby City Council member David White will become chairman of Gastonia-based Alliance Bank & Trust Co., pending FDIC approval. He will succeed Wayne Shovelin, chairman of the board for 10 years, who is retiring. White started Shelby-based White Investments in 1988 and was an organizing member of Alliance Bank & Trust's board in 2004.

American Airlines pilots union approves labor agreement

January 5, 2015

(The Charlotte Observer)

The union representing pilots for Fort Worth, Texas-based American Airlines reached a labor agreement that could increase pay by more than 23%. Charlotte Douglas International Airport is American's second-busiest hub behind Dallas/Fort Worth.

Charlotte-based CommunityOne raises $25M

January 2, 2015

(The Charlotte Observer)

CommunityOne Bancorp raised $25 million in a private stock placement, according to a securities filing Tuesday. The Charlotte-based bank plans to use the money to increase lending in 2015. 

Two new projects to add 700 apartments in downtown Charlotte

December 24, 2014

(The Charlotte Observer)

Two developers announced Tuesday plans to build apartment towers in downtown Charlotte. Charlotte-based Childress Klein Properties said it will build a 42-story, 392-unit tower above the Mint Museum on South Tryon Street, while Charleston, S.C.-based Greystar plans to build a 300-unit tower across from Romare Bearden Park.

Family Dollar delays Dollar Tree acquisition vote

December 24, 2014

Family Dollar on Tuesday delayed a vote on its proposed $8.5 billion acquisition by Dollar Tree until Jan. 22.

Agility Fuel Systems to hire 150 in Salisbury

December 23, 2014

(The Salisbury Post)

Agility Fuel Systems will invest $7.5 million and hire 149 people over three years at a new regional headquarters in Salisbury. The Santa Ana, Calif.-based company makes natural-gas systems for trucks and buses. Future plans call for more than 250 jobs at the 32-acre Rowan County site.

Chinese furniture company adding 120 jobs in Statesville

December 23, 2014

(The Charlotte Observer)

Homestar Light Industrial will establish its North American headquarters in Statesville and add 120 jobs to its existing 40 by the end of 2015. The China-based ready-to-assemble furniture manufacturer will invest $7 million in the former Talon Systems plant. The new jobs will include sales, marketing, engineering and management positions and will pay an average annual salary of $50,000.

Family Dollar expected to adjourn shareholder vote

December 23, 2014

(The Charlotte Observer)

Family Dollar Stores is expected to delay a shareholder vote scheduled for Tuesday on its proposed $8.5 billion acquisition by Chesapeake, Va.-based Dollar Tree. Rival Dollar General wants to acquire the the Matthews-based retailer for $9.1 billion in cash.

Owner requests rezoning for $400M development near Charlotte's SouthPark

December 23, 2014

(The Charlotte Observer)

A Charlotte property owner has filed a request for a 27-acre tract near SouthPark mall to be rezoned for a $400 million mixed-use development that could include more than 1,100 residential units. Plans for the site, which is currently home to a 353-unit apartment community that would be torn down, include 250,000 square feet of office space, 300,000 square feet of retail space and a 300-room hotel.

Charlotte-Mecklenburg Police seeks body cameras

January 13, 2015

(The Charlotte Observer)

The Charlotte-Mecklenburg Police Department wants the city to spend $7 million on 1,400 body cameras, providing one for each officer. Charlotte City Council will vote on the purchase Jan. 26.

BofA's Moynihan defends board's decision

December 22, 2014

(The Charlotte Observer)

Bank of America CEO Brian Moynihan defended the Charlotte-based lender's decision to name him chairman, despite calls from some large investors who have asked the bank to hold a shareholder vote on the bylaw change that allows its CEO to serve in dual roles.

NC must retool incentives program, corporate taxes to compete for jobs

December 22, 2014

(The Charlotte Observer)

North Carolina struggles to compete with other states, including neighbor South Carolina, in attracting new jobs. Lower taxes and larger incentive packages – in the case of Chinese textile company Keer Group, 10 times larger – helped lure some companies considering both states to South Carolina, according to documents obtained by The Charlotte Observer.

Google delays high-speed fiber announcement

December 19, 2014

(The Charlotte Observer)

Mountain View-Calif.-based Google has delayed an announcement on whether it will bring its high-speed fiber network to Charlotte and eight other cities. The technology company says it will provide more information early next year.

Hickory loses golf tournament in 2015

December 19, 2014

(The Charlotte Observer)

The 2015 PGA Champions Tour has replaced the Greater Hickory Classic at Rock Barn Golf & Spa with a tournament in San Antonio, Texas. The tournament was unable to line up enough sponsors.

Charlotte-based Dynacast sold for $1.1 billion

December 18, 2014

(The Charlotte Observer)

A Swiss investment-management firm will buy Charlotte-based Dynacast International for $1.1 billion. Dynacast makes metal components for small electronic devices such as car key fobs and operates 23 manufacturing plants in 16 countries.

Union County, Monroe approve $917K in incentives for Scott Safety

December 18, 2014

(The Charlotte Observer)

Union County and the city of Monroe approved incentives of up to $917,000 for Scott Safety, a division of Ireland-based Tyco International, to invest $28 million in an expansion of its local plant. The company would add 67 jobs to its existing 600. Scott Safety, which makes respiratory-protection and other safety products for law-enforcement officials, is also considering sites in England and India. 

Credit union regulator sues BofA, US Bancorp

December 18, 2014

(The Charlotte Observer)

The National Credit Union Administration Board filed a lawsuit claiming Bank of America and US Bancorp failed as trustees for mortgage-backed securities following the 2008 credit crisis.
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