Charlotte

Bonus checks for banking executives higher than last year

February 25, 2014

(The Charlotte Observer)

Annual bonuses in the financial industry are up 5% to 10% over last year, yet they are still below the levels they reached before the financial crisis. 

Unnamed company to invest $500 million in Kings Mountain project

February 24, 2014

(The Charlotte Observer)

Leaders of Kings Mountain are planning a major economic development announcement Monday evening. Mayor Rick Murphrey said an unnamed company plans an investment of $500 million and will bring 250 to 300 temporary construction jobs and 25 to 30 permanent jobs to southeastern Cleveland County.

Charlotte gets ready for CIAA; tournament may move next year

February 24, 2014

(The Charlotte Observer)

Charlotte is preparing for the annual CIAA basketball tournament, which produces an estimated $40 million economic impact, but its contract with the organization ends this year and tournament officials have yet to say whether or not it will return to Charlotte next year. The tournament begins Tuesday and runs through Sunday.

Charlotte's PassportParking to allow use of Bitcoin at parking meters

February 24, 2014

(The Charlotte Observer)

PassportParking Inc., a cloud-based parking management company based in Charlotte, says its customers will begin accepting Bitcoin digital currency for payment at meters and in parking lots. Passport's clients include the cities of Chicago and Detroit and Asheville's Parks and Recreation Department.

Charlotte may consider alternate plans for Eastland Mall site

February 21, 2014

(The Charlotte Observer)

Charlotte officials say they have yet to receive specific financial details from the developer who wants to build movie studios at the site of the former Eastland Mall, and they may consider other options for the site's redevelopment. Studio Charlotte Development was granted a six-month exclusive negotiating window that expires at the end of March.

'Peace Corps for geeks' to bring technology expertise to Charlotte

February 21, 2014

(The Charlotte Observer)

Charlotte is among 10 cities selected for a yearlong fellowship with Code for America, known as the "Peace Corps for geeks," which pairs technology professionals with local governments to improve services and community engagement.

Chinese manufacturer adding 30 jobs in Charlotte

February 21, 2014

(The Charlotte Observer)

China-based Fujisan Thermal Ribbon USA will expand, adding a distribution, sales and customer service center to its existing fulfillment center in Charlotte. The company, which makes ribbons for fax and barcode printing, expects to add 30 jobs over the next three years.

Google Fiber may be on its way to Charlotte, Raleigh-Durham area

February 20, 2014

(The Charlotte Observer)

Google has selected Charlotte, Raleigh-Durham and seven other metropolitan areas as potential locations to expand its Google Fiber data network, which provides Internet speeds up to 100 times faster than basic broadband. Representatives from Google will start working with Charlotte officials as early as next week to begin the joint planning process for the potential network there.

Sea Life aquarium opens today in Concord

February 20, 2014

(The Independent Tribune, Concord)

The 36,000-square-foot Sea Life Charlotte-Concord Aquarium opens to the public today at Concord Mills after a ceremony and ribbon-cutting this morning. The aquarium, which took six months to build, features 5,000 sea creatures and more than 20 displays.

Judge won't delay Bank of America settlement over Countrywide losses

February 20, 2014

(The Charlotte Observer)

A New York judge rejected American International Group's request to delay a final judgement on an $8.5 billion settlement between the Charlotte-based bank and private investors over losses from mortgage-backed securities.

Park Sterling chooses site, will apply to open Virginia branch

February 20, 2014

(The Charlotte Observer)

Charlotte-based Park Sterling Bank will apply this week to open its first branch in Virginia. The bank will open a 7,500-square-foot office in Richmond for commercial loan production which will later become a full-service branch.

Investigation widens in federal probe of coal-ash spill

February 20, 2014

(The Winston-Salem Journal)

About 20 additional employees from the state Department of Environment and Natural Resources received subpoenas and the department was ordered to turn over any records relating to investments, cash or other items it may have received from Charlotte-based Duke Energy.

Profit of $2.7 billion for Duke Energy in 2013

February 19, 2014

(The Charlotte Observer)

Duke Energy posted earnings of $2.7 billion for 2013, compared with $1.8 billion in 2012. The Charlotte-based utility's merger with Progress Energy and a strong performance in its third and fourth quarters led to the strong earnings.

UNC Charlotte opens $35 million business incubator

February 19, 2014

(The Charlotte Observer)

A 96,000-square-foot business hub called PORTAL (Partnership, Outreach and Research to Accelerate Learning) was unveiled on UNC Charlotte's campus Tuesday. The university hopes the $35 million center will help it produce about 2,000 jobs over the next decade through its partnerships with existing businesses.

Housing advocacy group says BOA discriminated against Latino borrowers

February 19, 2014

(The Charlotte Observer)

The National Fair Housing Alliance filed a formal complaint against Bank of America after an undercover investigation showed the bank discriminated against potential Latino borrowers at branch in Charleston, S.C.

Cook fired over McCrory incident offered help from Charlotte mayor

February 19, 2014

(The Charlotte Observer)

Charlotte Mayor Patrick Cannon reached out to a gourmet-food store cook who was fired Sunday after a confrontation with Gov. Pat McCrory, offering to help the man find a new job. 

Curtiss-Wright moves headquarters from NJ to Charlotte

February 18, 2014

(The Charlotte Observer)

Manufacturer Curtiss-Wright has relocated its headquarters from New Jersey to the Ballantyne area of Charlotte. The company's roots are in airplane manufacturing, but it has diversified its offerings to include a variety of defense and aerospace products. The company has no immediate plans to hire additional workers in Charlotte. 

Duke Energy sheds 13 Midwest power plants

February 18, 2014

(The Charlotte Observer)

Charlotte-based Duke Energy will sell its ownership stake in 13 Midwest power plants, mostly in Ohio and including one in Illinois and one in Pennsylvania. According to Duke CEO Lynn Good, the plants have not met financial expectations. 

Italian valve maker moves to Charlotte for expansion

February 18, 2014

(The Charlotte Observer)

A valve manufacturer is relocating from to Charlotte from Rock Hill, S.C. after outgrowing its space there. Italy-based Bonomi North America will add 11 new jobs and up to five more over the next three years. 

Mooresville company helps build bobsleds for Olympic team

February 17, 2014

(The Charlotte Observer)

Hans deBot and his company, deBotech Inc., were hired to develop the composite bodies of Team USA's bobsleds and skeletons used at the 2014 Olympic games. The company, founded 17 years ago in deBot's garage, uses carbon fiber to make parts for military aircraft, NASCAR teams and commercial jets.