Charlotte

US wants BOA to pay nearly $864 million over Countrywide mortgages

November 11, 2013

(The Charlotte Observer)

In a filing late Friday, the federal government requested Charlotte-based Bank of America pay $863.6 million in damages after the bank was found liable for fraud over thousands of defective home loans it sold to Fannie Mae and Freddie Mac through its Countrywide Financial unit between August 2007 and May 2008.

Extended Stay hotel chain expected to go public this week

November 11, 2013

(The Charlotte Observer)

Extended Stay America, a Charlotte-based hotel chain which owns and operates 682 properties, is planning an initial public offering this week. The company said in a filing last month it plans to sell up to 32.5 million shares priced between $18 and $21.

Parent company for Gastonia's WIX promotes Wilson to CEO

November 11, 2013

(The Gaston Gazette)

Keith Wilson, president of Affinia Group Inc.'s Global Filtration Group, will take over as CEO of the parent company of WIX Global Filtration on April 1 when the current CEO retires. Affinia recently announced plans to move its headquarters from Ann Arbor, Mich., to Gastonia.

Fifth Third latest bank to lay off mortgage workers in Charlotte

November 8, 2013

(The Charlotte Observer)

Fifth Third Bank has laid off an undisclosed number of workers in its mortgage division in downtown Charlotte. The Cincinnati-based bank reported a 17%, or $1 billion, drop in third quarter mortgage originations.

Charlotte airport commission holds first meeting

November 8, 2013

(The Charlotte Observer)

The 13-member Charlotte Douglas International Airport Commission held its first meeting on Thursday, with discussion turning to whether some members of the panel are actuallly opposed to the existence of the commission. The FAA still has not ruled whether the city or the newly formed commission will run the airport.

Chiquita reports $18 million third-quarter loss

November 8, 2013

(The Charlotte Observer)

Charlotte-based Chiquita Brands International posted an $18 million loss for its third quarter, compared with a loss of $67 million for the same period last year. The loss is attributed to an oversupply of fruit due to wars in the Middle East, costs of opening a new Midwest salad plant and bad weather in areas where it grows leafy greens.

Gaston's Parkdale Mills expanding in Georgia

November 8, 2013

(The Gaston Gazette)

Gaston County-based Parkdale Mills announced it is expanding production in Georgia, investing $85 million and creating 210 new jobs. The textile company produces fiber for high-end activewear. The company began as a single mill in Gaston County in 1916 and now has 25 plants in three countries.

Tea party critical of Pittenger

November 8, 2013

(The News & Observer, Raleigh)

U.S. Rep. Robert Pittenger received a letter this week from the Virginia-based Tea Party Leadership Fund PAC expressing its disappointment that the Charlotte Republican voted to end the federal government shutdown last month. 

Cheerwine begins distribution in Pacific Northwest

November 7, 2013

(The Winston-Salem Journal)

Cheerwine will expand its distribution to the Pacific Northwest states of Idaho, Oregon and Washington. The Salisbury-based soft-drink maker plans to be in all 50 states by 2017, its 100-year anniversary.

Charlotte movie studio developers host private event to woo investors

November 7, 2013

(The Charlotte Observer)

Studio Charlotte development group, which wants to remake the Eastland Mall property into a movie studio complex, held a reception in downtown Charlotte Wednesday evening to gain support for the project from potential investors, politicians and others. 

Wells Fargo will pay $335 million in settlement claims with Fannie Mae, Freddie Mac

November 7, 2013

(The Charlotte Observer)

Wells Fargo disclosed it settled claims with Fannie Mae and Freddie Mac in its first and third quarters and will pay $335 million in settlement costs. The San Francisco-based bank is among 18 financial institutions sued by the Federal Housing Finance Agency over mortgage securites it sold to Fannie and Freddie before the housing collapse.

Duke Energy's third quarter profits rise

November 7, 2013

(The Charlotte Observer)

Charlotte-based Duke Energy reported increased third-quarter earnings compared to a year ago. Earnings per share were $1.42 compared to 85 cents for the same period last year. Duke said mild weather in the Carolinas during the quarter hurt sales.

Older adult community proposed for 589 acres in Lincoln County

November 6, 2013

(The Charlotte Observer)

Arizona-based Shea Homes has proposed a 589-acre development for older adults in eastern Lincoln County. All but 300 of the subdivision's 1,650 homes will be age-restricted for adults 55 and older. Shea expects to begin construction in 2014 and complete the development by 2021.

DiMicco stepping down as executive chairman of Nucor

November 6, 2013

(The Charlotte Observer)

Nucor executive chairman Dan DiMicco will leave the position and the company's board of directors at the end of the year. DiMicco served as CEO of the Charlotte-based steelmaker for more than 12 years.

Chanticleer Holdings will acquire Just Fresh restaurants

November 6, 2013

(The Charlotte Observer)

Chanticleer Holdings, which owns and operates multiple Hooters restaurants internationally, has acquired a majority stake in Charlotte-based Just Fresh restaurant chain. CEO Mike Pruitt said Charlotte-based Chanticleer plans to open more Just Fresh locations here and in other countries.

Democrat Patrick Cannon elected Charlotte's next mayor

November 6, 2013

(The Charlotte Observer)

Democrat Patrick Cannon defeated Republican Edwin Peacock in Charlotte's mayoral race with 53.02 percent of the vote compared with Peacock's 46.78 percent.

US Airways charged $1.2 million over complaints from disabled passengers

November 5, 2013

(The Charlotte Observer)

US Airways will pay $1.2 million in fines after more than 300 complaints were filed in Charlotte and Philadelphia over inadequate wheelchair service. The U.S. Department of Transportation reviewed the complaints and found the airline's lack of assistance for disabled passengers led to delays and missed flights.

Duke Energy will tear down Riverbend plant in 2016

November 5, 2013

(The Charlotte Observer)

Duke Energy will take down its Riverbend power plant in Mount Holly by 2016. The Charlotte-based utility will begin removing equipment this fall, and the powerhouse and chimneys will be leveled in 2016. The plant was shut down in April as part of an effort by Duke to close old coal-fired plants.

Family Dollar executive to make appearance on "Undercover Boss"

November 5, 2013

(The Charlotte Observer)

The president of Charlotte-based Family Dollar will appear on the CBS show "Undercover Boss" this Friday. The reality show puts high-level executives in disguise so they can work alongside ordinary employees at their companies and see what it's like.

Today is election day across North Carolina

November 5, 2013

(The Charlotte Observer)

Although no statewide races are on this year's ballot, voters across the state will be electing officials at the local level today and voting on bond issues. Voters in Charlotte will be electing a new mayor, with Democrat Patrick Cannon and Republican Edwin Peacock III vying for the office.