Charlotte

Norfolk Southern railyard uniquely situated at Charlotte airport

January 9, 2014

(The Charlotte Observer)

Norfolk Southern's new $92 million intermodal railyard at Charlotte Douglas International Airport will be able to accomodate 200,000 cargo containers a year, with space for 1,331 trucks. The railyard, which the city hopes will bring new businesses to the area, replaces Norfolk Southern's current transfer site north of uptown Charlotte.  

Pittenger requests delay for implementation of qualified mortgage rules

January 9, 2014

(The Charlotte Observer)

Rep. Robert Pittenger called for a one-year delay of new federal mortgage rules designed to prevent risky loans that contributed to the recent financial crisis. The Charlotte Republican says the rules will restrict access to loans and will have a devastating effect on the housing industry. 

Duke Energy sets record for electricity demand in winter

January 8, 2014

(The Charlotte Observer)

Charlotte-based Duke Energy asked its customers to conserve energy Tuesday, after extreme cold led to record electricity demand for winter. Duke said that while all its power plants were running, high demand could still overload circuits and cause equipment to fail, which could in turn lead to power outages.

Carolina Panthers reveal renovation plan for 2014

January 8, 2014

(The Charlotte Observer)

The Carolina Panthers disclosed details of a $65 million renovation plan, largely financed by the city of Charlotte, which includes four new escalator bays, two new high-definition video boards and larger ribbon boards on the stadium's interior. Renovations are scheduled to begin in two weeks and should be completed July 1.

Belk hires consultant to improve website, mobile shopping

January 8, 2014

(The Charlotte Observer)

Charlotte-based retailer Belk has hired consultant Accenture to help improve its e-commerce and customer service programs, the company said this week. On Black Friday, Belk's website crashed due to high traffic volume, though the company has spent millions updating its online retail systems over the past several years.

Time Warner closes deal to purchase Charlotte's DukeNet

January 7, 2014

(The Charlotte Observer)

Time Warner Cable announced it has completed its acquisition of Charlotte-based DukeNet Communications, a $600 million deal announced in October. The purchase expands Time Warner's fiber-optic network by 8,700 miles, allowing it to offer business customers in the Southeast voice, high-speed Internet and cloud-enabled hosting services.

Charlotte's Park Sterling Bank expands into Virginia

January 7, 2014

(The Charlotte Observer)

Charlotte-based Park Sterling Bank announced it is entering the Virginia market, hiring five bankers from Charlottesville, Va.-based StellarOne Bank to head commercial lending, wealth management and mortgage banking divisions.

Help wanted in Charlotte: Nurses, truckers and IT professionals

January 6, 2014

(The Charlotte Observer)

Based on data from the North Carolina Department of Commerce, registered nurses, truck drivers and information technology professionals including computer analysts and software developers top the list of online job postings in the Charlotte area for the most recent 90-day period.

Public documents reveal maintenance issues for Charlotte bus-maker DesignLine

January 6, 2014

(The Charlotte Observer)

Documents reveal new information about the troubles of Charlotte bus manufacturer DesignLine, which sold buses to Charlotte Douglas International Airport beginning in 2007, including braking problems, a fire on one of its buses and the airport's difficulty obtaining parts for repairs.

Charlotte doctors accuse hospital chain of Medicare fraud, kickback offers

January 3, 2014

(The Charlotte Observer)

Two Charlotte emergency-room doctors have filed a lawsuit against hospitals in Mooresville and Statesville and their owner, Health Management Associates, claiming the for-profit hospital chain committed Medicare fraud and offered them kickbacks to order unnecessary tests and admit more patients.

Charlotte restaurant group purchases its first U.S. Hooters locations

January 3, 2014

(The Charlotte Observer)

Hooters franchisee Chanticleer Holdings announced it will acquire its first Hooters locations in the U.S., one each in Oregon and in Washington state. The Charlotte-based company has been diversifying its portfolio of restaurants, recently buying Charlotte-based American Roadside Burgers and a majority stake in the companies that own Just Fresh cafes.

First Bank's Ocheltree to lead Lincolnton's Carolina Trust Bank

January 2, 2014

(The Gaston Gazette)

Lincolnton-based Carolina Trust Bank appointed Jerry L. Ocheltree as its president and chief executive officer. Ocheltree, formerly CEO of Troy-based First Bank, assumed the title effective Jan. 1. Carolina Trust has seven full-service branches in Western N.C. as well as a loan production office in Hickory.

Report shows Charlotte home prices post biggest annual gain in 26 years

January 2, 2014

(The Charlotte Observer)

Charlotte home prices in October increased 8.8% over the previous year, the market's biggest annual gain since 1987. October was the region's 20th consecutive month of year-over-year price increases.

Officials see Charlotte as major logistics hub with opening of new railyard

December 31, 2013

(The Charlotte Observer)

Economic development leaders hope a new railyard at Charlotte Douglas International Airport will attract more manufacturing, trucking and warehouse companies to the area. The new intermodal yard was designed to handle 200,000 transfers a year, with parking spaces for 1,331 trucks.

Wells Fargo settles Fannie Mae mortgage case for $591 million

December 31, 2013

(The Charlotte Observer)

Wells Fargo announced it will pay $541 million to Fannie Mae in a settlement over bad mortgage loans the bank sold it before 2009. The amount is part of a $591 million total settlement reached between the San Francisco-based bank and the government-sponsored mortgage lender.

Race team expanding in Kannapolis

December 31, 2013

(The Independent Tribune, Concord)

Stewart-Haas Racing is investing $6 million in a 125,000-square-foot expansion at its Kannapolis headquarters, as it expands from three to four Sprint Cup race teams in 2014. The new center will house research and development, a pit fitness and training center and garage space.

Charlotte's WTVI still years away from getting back in the black

December 30, 2013

(The Charlotte Observer)

Charlotte's public television station, which was taken over in 2012 by Central Piedmont Community College, says it is still three years away from being self-supporting. WTVI's losses tripled in the fiscal year ending in July 2013, largely due to consolidation with CPCC's former cable operation and higher fees paid to PBS to bring back top-tier programming, which the station had cut in 2004.

Piedmont Gas reports 12% increase in 2013 net income

December 24, 2013

(The Charlotte Observer)

Piedmont Natural Gas reported it earned $134.4 million in profit on almost $1.3 billion in revenues for its fiscal year which ended Oct. 31. That's a 12% increase in net income over the previous year for the Charlotte-based utility.

Stanly County composite-decking manufacturer to expand, create 25 jobs

December 24, 2013

(The Charlotte Observer)

Fiber Composites LLC, which operates as Fiberon, will invest $3.8 million and create 25 new jobs over three years in an expansion of its manufacturing plant in New London. The privately-owned company, which employs 324 in North Carolina, makes composite and PVC decking, railing and fencing.

Former Gastonia bank building to become luxury hotel

December 24, 2013

(The Charlotte Observer)

The 100-year-old Lawyers Building in downtown Gastonia will be renovated as an upscale hotel. Developer Nathan Kirby said he will announce an affiliation with a nationally recognized brand at a groundbreaking ceremony in January. The hotel, which will have 31 rooms and a full-service restaurant, is located a half-block from Gastonia's convention center and should open in September.