Charlotte

Charlotte's Jeld-Wen buys California door company

October 6, 2015

(The Charlotte Observer)

Charlotte-based Jeld-Wen bought LaCantina Doors for an undisclosed amount, marking the door and window manufacturer's fourth acquisition of 2015.

Investors say Pittenger still involved in land deals

October 5, 2015

(The Charlotte Observer)

Some investors who have bought property through the land-acquisition business founded by U.S. Rep. Robert Pittenger say the congressman still plays an active role in the company despite ethics rules prohibiting his involvement. A spokesman said Pittenger and his staff routinely check with Ethics members to ensure compliance with rules and regulations.

Charlotte's Park Sterling to acquire Virginia bank

October 2, 2015

(The Charlotte Observer)

The holding company for Park Sterling Bank is buying First Capital Bancorp in a deal valued at about $82.5 million. First Capital has eight branches in the Richmond, Va. area; Charlotte-based Park Sterling has 52 branches in the Carolinas, Georgia and Virginia. Park Sterling will have about $3.1 billion in assets when the deal closes.

Duke Energy's 'Stick' Williams announces retirement

October 2, 2015

(The Charlotte Observer)

Richard "Stick" Williams, head of Duke Energy's philanthropic efforts, will retire at year-end after 36 years with the company. Williams, 62, oversees the Duke Energy Foundation, which last year donated $26.5 million.

Eaton to close Charlotte plant by Nov. 25

October 2, 2015

(The Charlotte Observer)

Eaton will lay off all 37 workers at a Charlotte clutch-assembly plant by the end of November as the company shifts production to Indiana and Mexico. The Ireland-based manufacturer employs about 4,000 people in North Carolina.

Cabarrus pursues projects that could bring 1,200 jobs

October 1, 2015

(The Independent Tribune, Concord)

In September, Cabarrus Economic Development received double the usual amount of information requests from companies considering bringing jobs to the area. The organization is in talks with seven unnamed companies that could invest more than $110 million and bring more than 1,200 jobs.

Panthers' Charles Johnson to open Charlotte eatery

October 1, 2015

(The Charlotte Observer)

Carolina Panthers defensive end Charles Johnson plans to open a restaurant in a historic fire station in downtown Charlotte. He needed something to keep him busy while on injured reserve, Johnson said in an Instagram post.

BofA submits revised capital plan

October 1, 2015

(The Charlotte Observer)

In March, the Federal Reserve gave Bank of America permission to repurchase $4 billion in common stock but said it needed to revise its capital plan to address weaknesses. The Charlotte-based bank submitted a revised plan Wednesday.

Duke Energy reaches settlement in contamination case

September 30, 2015

(The News & Observer, Raleigh)

Minutes into Duke Energy's Tuesday court hearing over a $25.1 million state fine, the company reached a settlement with state environmental regulators. The N.C. Department of Environmental Quality agreed to drop a case involving groundwater contamination at Duke's Sutton plant in Wilmington; in exchange, the Charlotte-based company will pay $7 million. The deal also resolves groundwater violations at 14 coal-ash storage sites across the state.

Premier's DeVore earns less in 2015

September 30, 2015

(The Charlotte Observer)

Susan DeVore, CEO of Charlotte-based health-care company Premier, earned $6.9 million in total compensation in fiscal 2015. That's down from the $24.9 million she received in 2014, when DeVore was granted $22.4 million in stock and option awards tied to the company's IPO and was the state's highest paid chief executive.
Related: "Premier position," August

BofA cuts traders, bankers; impact on Charlotte unclear

September 30, 2015

(The Charlotte Observer)

Bank of America plans to cut dozens of jobs in its trading and banking divisions, though the company declined to say whether any Charlotte jobs will be affected. The bank's third-quarter revenue declined about 5%.

Duke Energy heads to court over $25.1M fine

September 29, 2015

(The News & Observer, Raleigh)

Lawyers for Duke Energy and the N.C. Department of Environment and Natural Resources failed to reach a settlement Monday over a $25.1 million fine imposed on the utility for years of groundwater contamination at its Wilmington power plant. Court hearings are scheduled to begin Tuesday.

Charlotte City Council approves next phase of airport expansion

September 29, 2015

(The Charlotte Observer)

Charlotte City Council approved spending $7.8 million on design plans for a new, 211,000-square-foot concourse at Charlotte Douglas Interational Airport. The new concourse will add nine gates to the airport's 96. Construction is expected to begin in January.

Charlotte's SPX completes spinoff of flow-products business

September 29, 2015

(The Charlotte Observer)

The new company, called SPX Flow, began trading Monday on the New York Stock Exchange and will manufacture pumps, valves and filtration systems. The remaining company will make and sell transformers, boilers and communication systems. Both companies will be based in Charlotte.

Coke Consolidated to expand distribution footprint

September 25, 2015

(The Charlotte Observer)

The Charlotte-based Coca-Cola bottler will purchase manufacturing facilities in four states from Atlanta-based Coca-Cola, which is divesting its bottling operations. Shares of Coke Consolidated, which recently announced plans to add 140 employees in Charlotte, rose nearly 7% Thursday.

Charlotte's AvidXchange partners with KeyBank

September 25, 2015

(The Charlotte Observer)

AvidXchange, a Charlotte-based accounting software company, received a minority investment from Cleveland-based KeyBank. AvidXchange broke ground this month on a new headquarters where it plans to create more than 600 new jobs. With assets of about $95 billion, KeyBank operates more than 900 branches in 12 states.

Mecklenburg revisits incentive agreements ahead of Time Warner merger

September 24, 2015

(The Charlotte Observer)

Mecklenburg County is reviewing incentive agreements with Time Warner Cable after the company told local employees Monday that some jobs could be relocated after the company's merger with Stamford, Conn.-based Charter Communications. Time Warner was awarded tax rebates in 2004, 2008 and 2011 in exchange for adding new jobs.

Childress Klein gives $2.5M to UNC Charlotte

September 24, 2015

(The Charlotte Observer)

UNC Charlotte's real-estate center will be renamed for Charlotte-based developer Childress Klein. The company donated $2.5 million to the center; with matching state funds, the total impact of the gift will be $3.2 million. The money will be used to endow a professorship and for faculty fellowships and master's degree training programs.

Moynihan keeps chairman title

September 23, 2015

(The Charlotte Observer)

About 63% of shareholders at a special meeting in Charlotte voted to allow Bank of America CEO Brian Moynihan to keep his chairman position. After the meeting, bank executives said they plan to be more engaged with shareholders in the future.

Time Warner-Charter merger may impact Charlotte jobs

September 23, 2015

(The Charlotte Observer)

Employees at Time Warner Cable's Charlotte offices learned that their jobs might be affected by the cable giant's upcoming merger with Charter Communications. Some finance operations could be relocated to Denver, St. Louis or Stamford, Conn., where Charter is based. Time Warner employs 3,140 in the Charlotte area.