Charlotte

SunTrust to eliminate 800 jobs, including some in Charlotte

October 16, 2013

(The Charlotte Observer)

Atlanta-based SunTrust Banks announced it is cutting 800 jobs nationwide, including an undisclosed number in Charlotte. The cuts are in its mortgage division, which has experienced a slowdown as mortgage rates have risen this year.

Affinia Group bringing headquarters to Gastonia

October 16, 2013

(The Gaston Gazette)

Ann Arbor, Mich.-based Affinia Group Inc., the parent company of WIX Global Filtration, plans to move its headquarters to Gastonia in 2014. The company, which manufactures and distributes filter products for automotive and industrial markets, already employs about 1,300 in Gastonia.

Rep. Ruth Samuelson will not seek a fifth term

October 16, 2013

(The Charlotte Observer)

Charlotte Republican Rep. Ruth Samuelson said she will not run for re-election in 2014. Samuelson, who was thought to be a top contender for House speaker, plans to pursue business opportunities and spend more time with her family and faith community.

CaroMont Health sues physicians' services provider

October 15, 2013

(The Gaston Gazette)

Gastonia-based CaroMont Health has filed a lawsuit alleging breach of contract against Cogent Healthcare of North Carolina, the company it hired last year to handle inpatient services at CaroMont Regional Medical Center. The lawsuit claims Cogent carried out unfair and deceptive trade practices. The failed partnership contributed to the firing of former CaroMont CEO Randall Kelley in April.

Charlotte airport leader Orr to retire by 2015

October 14, 2013

(The Charlotte Observer)

Jerry Orr, former aviation director of  Charlotte Douglas International Airport and current director of the new Charlotte Airport Commission, told commission members in a letter he will retire by June 2015. The commission will hold its first meeting Nov. 7, although a Superior Court judge has not yet ruled on whether the commission or the city will run the airport.

Some communities object to solar farms

October 14, 2013

(The Charlotte Observer)

Some North Carolina residents, including groups in Lincoln and Robeson Counties, are concerned about the glare, radiation levels and appearance of the many proposed solar farms across the state. Many feel that the farms would be eyesores and have a negative effect on nearby property values.

Charlotte's Ballantyne Village sold to local investors

October 11, 2013

(The Charlotte Observer)

South Charlotte mixed-use development Ballantyne Village has been purchased by a group of local Charlotte investors. Vision Ventures and Mount Vernon Asset Management bought the distressed complex for $26.1 million. The project was appraised for $71 million shortly after completion in 2006.

Setback for airlines in proposed merger trial

October 11, 2013

(The Charlotte Observer)

A court-appointed official recommended a federal judge reject a request by American Airlines and US Airways that the Justice Department disclose names of individuals the government interviewed before it sued to block the airlines' proposed merger.

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.