Charlotte

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.

Charlotte rail facilities could be impacted by Norfolk Southern sale

November 11, 2015

(The Charlotte Observer)

Canadian Pacific is mulling a takeover of Norfolk Southern, and the rail carrier's intermodal year at Charlotte Douglas International Airport could be affected. Norfolk Southern also owns freight rail tracks that Charlotte wants to use for a commuter rail line to Lake Norman.

Cheerwine official drink of barbecue association

November 10, 2015

(The Salisbury Post)

Cheerwine is now the official soft drink of the National Barbecue Association, a Naperville, Ill.-based industry group. Invented in Salisbury in 1917, Cheerwine has set out to expand its national footprint, with a goal of distribution in all 50 states by 2017.

Jeter calls for summit on I-77 toll lanes

November 10, 2015

(The Charlotte Observer)

N.C. Rep. Charles Jeter wants Mecklenburg County and regional leaders to hold a "summit" within 10 days to discuss planned toll lanes on Interstate 77. The Huntersville Republican's efforts were spurred by the Nov. 3 elections, when anti-toll voters ousted Mayor Jill Swain and two town commissioners.

Lake Norman business leaders push back against tolls

November 9, 2015

(The Charlotte Observer)

A pair of state legislators from the Lake Norman area said they are preparing a "plan of attack" on Interstate 77 toll lanes north of Charlotte. Local politicians and business leaders aren't giving up the fight against tolls, though the state has already signed a 50-year contract with a Spain-based company to build and operate the lanes. Backing out of the contract would result in a $100 million penalty.

Piedmont CEO Skains to retire after merger

November 9, 2015

(The Charlotte Observer)

Tom Skains will retire as CEO of Piedmont Natural Gas when Duke Energy's $4.9 billion deal to acquire the company closes in 2016. The decision to retire was a personal one, a Piedmont spokesman said. Skains, 58, became president of the Charlotte-based utility in 2002 and chairman and CEO in 2003.

BofA will continue to trim branches

November 9, 2015

(The Charlotte Observer)

Bank of America will continue to shed branches in areas with low foot traffic, according to Dean Athanasia, co-head of the bank's consumer banking division, and new branches will be smaller than the existing ones. The Charlotte-based bank has eliminated more than 1,200 branches since Brian Moynihan became CEO in 2010.

Construction begins on 22-story hotel tower in Charlotte

November 6, 2015

(The Charlotte Observer)

Site work will begin in the next few weeks on a new 22-story hotel tower to be built atop the EpiCentre entertainment venue in downtown Charlotte. The project includes a 184-room AC Hotel and a 116-room Residence Inn. Both are Marriott concepts. Construction is expected to be complete in late 2017.

Belk shareholders approve sale

November 5, 2015

(The Charlotte Observer)

As expected, Belk shareholders approved on Wednesday the company's sale to New York-based private equity firm Sycamore Partners. The $3 billion deal has cleared all regulatory hurdles, Charlotte-based Belk said in a statement, and is expected to close in late November or early December.

Toll lanes a factor in Huntersville elections

November 5, 2015

(The Charlotte Observer)

Four-term Huntersville Mayor Jill Swain was upset by John Aneralla, an opponent of toll lanes on Interstate 77, in Tuesday's election, while two incumbent town commissioners also loss their seats over their stance on the contentious issue.

Duke LifePoint acquires hospitals in Hickory, Sanford

November 4, 2015

(Hickory Daily Record)

Duke LifePoint Healthcare will purchase the 355-bed Frye Regional Medical Center in Hickory and the 137-bed Central Carolina Hospital in Sanford. The Tennessee-based company, a joint venture of Duke University and LifePoint Health, operates 12 hospitals, including seven in North Carolina.

BlackRock buys BofA money-market funds unit

November 4, 2015

(The Charlotte Observer)

Bank of America will sell its $87 billion money-market fund business to New York-based asset manager BlackRock. Terms of the deal, which is expected to close in the first half of 2016, were not disclosed.

Panthers reviewing security after stadium protest

November 4, 2015

(The Charlotte Observer)

The Carolina Panthers and the NFL are reviewing an incident in which protesters rappelled down Bank of America Stadium during Monday night's game. Four people affiliated with a group opposed to the bank's financing of a natural-gas facility for Richmond, Va.-based Dominion Resources face misdemeanor charges.

Stumpf: Charlotte a growth spot for Wells Fargo

November 4, 2015

(The Charlotte Observer)

CEO John Stumpf said Wells Fargo remains committed to Charlotte, an area of growth for the bank. Despite recent layoffs in its mortgage division, the San Francisco-based bank still employs about 23,600 in the region, its largest employment hub. Wachovia had about 20,000 employees in the Queen City when Wells Fargo acquired it in 2008.

Charlotte's Ettain Group buys Texas-based IT staffing company

November 3, 2015

(The Charlotte Observer)

Charlotte-based Ettain Group has acquired Texas-based Timberhorn IT Solutions for an undisclosed amount. Ettain, an IT staffing firm, employs more than 500 people in Charlotte. The combined company will have more than 1,300 employees.