Charlotte

Charlotte restaurant franchisee raises $1.6 million in private offering

October 11, 2013

(The Charlotte Observer)

Charlotte-based Chanticleer Holdings, a franchisee that operates six Hooters restaurants and recently purchased Charlotte-based American Roadside Burgers, raised $1.6 million in a private offering of its shares. It plans to use the proceeds to fund new restaurants.

Piedmont Natural Gas agrees to 3.6 percent rate hike

October 10, 2013

(The Charlotte Observer)

Beginning in January, Piedmont Natural Gas residential customers will pay an extra $1.67 a month on average, based on an agreement reached between the Charlotte-based utility and the N.C. Utilities Commission that would allow Piedmont a 3.6 percent rate hike. Piedmont had initially requested a rate hike of 9.3 percent.

Food Lion donates $500,000 to food banks after WIC program suspended

October 10, 2013

(The News & Observer, Raleigh)

Salisbury-based Food Lion announced it will donate $5 gift cards totaling $500,000 to North Carolina food banks. The supermarket chain made the decision after the state announced this week it ran out of funds for the federal WIC program for women and children living at or below the poverty level.

Family Dollar posts profitable fourth quarter, but shutdown may hurt business

October 10, 2013

(The Charlotte Observer)

Executives of Matthews-based Family Dollar said although the discount retailer posted increased sales and profits for its fourth quarter, the federal government shutdown could hurt sales in the near future. According to CEO Howard Levine, over half the retailer's customers are on government assistance, which many states are being forced to freeze or cut back due to the shutdown.

Charlotte area small businesses left idle during shutdown

October 10, 2013

(The Charlotte Observer)

Many small businesses in the Charlotte region whose top clients are federal government agencies or those who require government approval for new products and packaging, such as microbreweries, are suffering due to the partial government shutdown.

New low-cost carrier coming to Charlotte airport

October 10, 2013

(The Charlotte Observer)

Denver-based Frontier Airlines announced it will begin flying from Charlotte Douglas International Airport to New Jersey's Trenton-Mercer Airport four times a week beginning in February. Frontier is a small, low-cost carrier that was spun off of Republic Airways and is looking to expand nationwide.

Charlotte's Morningstar sells 43 storage centers to Public Storage

October 9, 2013

(The Charlotte Observer)

Charlotte-based Morningstar Properties, parent company of Morningstar Mini-Storage, has sold 43 of its storage centers to Public Storage, the country's largest self storage provider. Public Storage paid $315 million for the centers in the Carolinas, Georgia, Texas and Virginia.

FDIC files objection to BOA settlement over Countrywide loans

October 9, 2013

(The Charlotte Observer)

The Federal Deposit Insurance Corp. has filed an objection to a $500 million settlement by Charlotte-based Bank of America over mortages originated by Countrywide Financial Corp. The settlement was announced in April, and a federal judge in California granted preliminary approval in August. The hearing on final approval is scheduled for later this month.

Charlotte's Pamlico Capital raises $650 million fund

October 9, 2013

(The Charlotte Observer)

Charlotte-based private-equity firm Pamlico Capital has raised a $650 million fund from investors including pension funds, endowments and other institutions. Pamlico makes investments of $25 million to $75 million in midsize firms. The firm was previously a private equity arm of Wells Fargo until becoming independent in 2010.

State Republican Party provides support for Charlotte mayoral candidate Peacock

October 9, 2013

(The Charlotte Observer)

The N.C. Republican Party, with financial support from the national party, has hired five field organizers in Charlotte to identify voters and get them to the polls to support Republican mayoral candidate Edwin Peacock. Volunteers have been recruited to make phone calls and knock on doors in the city where just 23 percent of registered voters are Republican.

DukeNet fiber optic company sold to Time Warner Cable

October 8, 2013

(The Charlotte Observer)

Charlotte-based DukeNet Communications, a regional telecommunications service provider, is being sold to Time Warner Cable for $600 million. Duke Energy created DukeNet in 1994 and sold half of its stake to Alinda Capital Partners in 2010. Time Warner hopes the acquistion will help it expand its business services. 

Food Lion parent company announces another CEO resignation

October 8, 2013

(The Salisbury Post)

The CEO of Delhaize Europe, Stefan Descheemaeker, will resign effective Oct. 31, according to an announcement on Monday by Belgium-based Delhaize Group, the parent company of Food Lion. His resignation follows that of Roland Smith, the former CEO of Delhaize America who resigned last month.

Business park owner proposes industrial building near Concord airport

October 8, 2013

(The Independent Tribune, Concord)

The owner of the SL Concord Airport Business Park has proposed a $16 million, 400,000-square-foot industrial building, the largest ever built without a signed tenant in Concord. The Silverman Group, which owns the park and has requested an economic development grant from the city, hopes the building would attract a distribution or manufacturing firm to occupy the space near Concord Regional Airport.

CaroMont Health admits security breach

October 8, 2013

(The Charlotte Observer)

Gastonia-based CaroMont Health says an email containing confidential information of 1,300 patients was sent, breaking federal privacy laws requiring strict security with personal medical information. The health care company does not believe the information was viewed by anyone other than the two people sending and receiving the email.

Gastonia-based mental health clinic shuts down as employees claim they are owed paychecks

October 8, 2013

(The Gaston Gazette)

True Behavioral Healthcare, a mental and behavioral health clinic with locations in Cleveland, Gaston and Lincoln counties, is closing and around 88 employees say they have not received paychecks in several weeks. Albermarle-based Monarch NC will take over the practice and has begun hiring many True workers to allow services to continue uninterrupted.

United Technologies will not issue furloughs

October 7, 2013

(The Charlotte Observer)

Hartford, Conn.-based United Technologies, a defense contractor with an aeropspace division in Charlotte, will not furlough 2,000 workers as it had previously announced. The decision was made after the Department of Defense ended furloughs for most of its civilian employees beginning this week.

Shareholders approve Harris Teeter sale to Kroger

October 4, 2013

(The Charlotte Observer)

Harris Teeter shareholders voted Thursday to approve the sale of the Matthews-based supermarket chain to Cincinnati-based Kroger Co. Harris Teeter CEO Thomas Dickson said the sale will help the stores compete against other large retailers in the market.

Groundbreaking today for Cleveland County manufacturer

October 4, 2013

(The Shelby Star)

Gov. Pat McCrory will visit Cleveland County today for the groundbreaking and announcement of a manufacturing company that will invest $26 million and bring 177 jobs to the county over the next five years. The company's identity will be revealed at the ceremony.

Areva headquarters now open in Charlotte

October 4, 2013

(The Charlotte Observer)

French energy company Areva has completed its relocation of it North American headquarters from Bethesda, Md. to Charlotte. Areva, which focuses on nuclear and renewable energy sectors, already employs about 300 engineers in Charlotte and plans to add about 130 new jobs there over the next four years. 

GOP leaders who oppose Cleveland County casino will hold 2014 convention at Harrah's

October 4, 2013

(The Shelby Star)

Economic development leaders in Cleveland County are puzzled by the state GOP's choice of Harrah's Cherokee Casino Resort for its 2014 convention, considering many Republican leaders' opposition to a similar proposed development there by the Catawba Indian Nation. In an announcement this week, state GOP chairman Claude Pope called Harrah's "a model for economic development."