Charlotte

14-story office tower coming to Charlotte's South Tryon

October 3, 2014

(The Charlotte Observer)

Trinity Capital announced plans to build a 14-story office tower at Morehead and South Tryon streets in Charlotte. Construction will begin on the project, which will include 300,000 square feet of office space and ground-level retail, once an anchor tenant is signed.

Mulch supplier to open Mooresville office, create 33 jobs

October 3, 2014

(The Charlotte Observer)

Harvest Garden Pro will open a division headquarters in Mooresville, creating 33 jobs with an average annual salary likely to exceed $70,000. The company, a division of Waltham, Mass.-based Harvest Power Inc., sells mulch and soil to garden centers and home-improvement retailers including Mooresville-based Lowe's.

CBS trades seven Charlotte radio stations

October 3, 2014

(The Charlotte Observer)

CBS Radio will trade seven Charlotte radio stations to Naples, Fla.-based Beasley Broadcast Group in exchange for stations in Philadelphia and Miami. The Charlotte stations account for 32% of listeners in the local market according to Nielsen's September rankings.

Charlotte-based Carlisle Cos. acquires Singapore company for $195M

October 3, 2014

(The Charlotte Observer)

Carlisle Cos. paid $195 million for LHi Technology, a Singapore-based company that makes components for medical devices. The Charlotte-based manufacturer employs about 8,200 people worldwide, including about 80 in Charlotte.

Moynihan elected chairman of Bank of America

October 2, 2014

(The Charlotte Observer)

CEO Brian Moynihan was named chairman of Bank of America's board, effective immediately. The Charlotte-based bank split the two roles in 2009 when CEO Ken Lewis was removed as chairman amid pressure from shareholders following the federal government's $45 billion bailout. Moynihan replaces Charles Holliday Jr.

Lawyers' bills in Charlotte airport fight total more than $1 million

October 2, 2014

(The Charlotte Observer)

Charlotte has amassed $552,600 in legal fees in its fight to maintain control of Charlotte Douglas International Airport, while the legal tab for the 13-member commission created by the state General Assembly to run the airport is believed to be about $500,000.

Movie studio project once proposed for Charlotte may be built in SC

October 2, 2014

(The Charlotte Observer)

Studio South, the company that proposed building movie studios at the former Eastland Mall site in Charlotte, is exploring building a similar project on 70 acres in or near Rock Hill, S.C. Charlotte City Council ended talks with Studio South CEO Bert Hesse six months ago, claiming Hesse didn't provide enough detailed information on project costs and financing.

Babcock & Wilcox may split into two companies

October 2, 2014

(The Charlotte Observer)

Babcock & Wilcox said it is considering a split into two publicly traded companies that would separate its power-generation business from its government and nuclear businesses. The energy company has been based in Charlotte since it was spun off from Houston-based McDermott International in 2010.

Murdock to give $15M a year to research institute

October 1, 2014

(The Charlotte Observer)

David Murdock, 91, will donate $15 million a year to his namesake research institute at the North Carolina Research Campus in Kannapolis. The chairman of Dole Food said he plans to recruit a world-class scientist to lead the David H. Murdock Research Institute to continue the study of health benefits of diets rich in fruits and vegetables.

BofA to issue debit cards with microchips

October 1, 2014

(The Charlotte Observer)

Bank of America says it will be the first major U.S. bank to issue debit cards with embedded microchip technology. The bank will give the cards to new consumers and small-business customers, while existing customers will receive the new cards when their old debit cards expire. 

Family Dollar affirms plans for Dollar Tree deal

October 1, 2014

(The Charlotte Observer)

In an email to employees Tuesday, Family Dollar Stores said it is proceeding with plans to be acquired by Chesapeake, Va.-based Dollar Tree despite Dollar General's hostile $9.1 billion bid for the Matthews-based retailer.

Monroe airport prepares for international flights

September 30, 2014

(The Charlotte Observer)

The Charlotte-Monroe Executive Airport in Union County will become the first general aviation airport in the Carolinas to add a U.S. Customs and Border Protection service, allowing international flights to land there. The service will debut as early as mid-November.

Murdock to announce "gift in perpetuity" to research institute

September 30, 2014

(The Salisbury Post)

David Murdock, chairman and CEO of Dole Food Co., will announce an ongoing gift to the Kannapolis research institute he founded. Murdock has invested more than $800 million in the North Carolina Research Campus he established in 2005, which is home to the the David H. Murdock Research Institute and about 20 academic, technology and health-care organizations.

BofA fined $7.6 million for overstating capital ratios

September 30, 2014

(The Charlotte Observer)

Bank of America will pay a $7.65 million penalty over its miscalculation of capital ratios in a securities filing earlier this year. The Charlotte-based bank said the accounting errors stemmed from its 2009 acquisition of Merrill Lynch.

Family Dollar: States plan to investigate Dollar General deal

September 30, 2014

(The Charlotte Observer)

In a filing with the Securities and Exchange Commission, Family Dollar says several state attorneys general have told the Matthews-based retailer they will investigate a potential merger with Dollar General over effects the combined company would have on competition.

FAA says Charlotte must ask it to transfer control of airport

September 30, 2014

(The Charlotte Observer)

The Federal Aviation Administration said in a letter it hasn't weighed in on the issue of who should control Charlotte Douglas International Airport because the city has not asked it to do so. The state General Assembly last year passed a bill transferring control of the airport to a regional commission, but Charlotte City Council won a temporary injunction that blocks the commission from running the airport.

Chiquita raises value for shareholders in proposed Fyffes merger

September 29, 2014

(The Charlotte Observer)

Charlotte-based Chiquita Brands International and Irish produce company Fyffes revised the terms of their merger agreement to try to win shareholder support. Shareholders will now receive almost 60% of the combined company's stock, up from just over 50% according to the previous agreement.

Gastonia-based Parkdale Mills buys textile plant in Mexico

September 29, 2014

(The Charlotte Observer)

Parkdale Mills is now the sole owner of Summit Yarns, a textile plant in Mexico. The Gastonia-based yarn manufacturer bought half of the operation in 1997; Greensboro-based International Textile Group owned the other half. The plant will continue to supply ITG's Cone Denim plant in Mexico. Parkdale employs more than 4,200 in the U.S., including 400 in Gaston County.

Charlotte nursing school to close in 2016

September 29, 2014

(The Charlotte Observer)

Mercy Hospital School of Nursing will close after its current students graduate in 2016. The school was acquired by Charlotte-based Carolinas HealthCare System when it bought the Mercy Hospital and Mercy Hospital South from Belmont-based Sisters of Mercy in 1995. CHS operates two other nursing schools in the Charlotte area. 

CLT sells off DesignLine shuttle buses

September 26, 2014

(The Charlotte Observer)

Charlotte Douglas International Airport auctioned off its 10 shuttle buses made by troubled bus manufacturer DesignLine. Maintenance problems and a scarcity of replacement parts made the buses expensive to operate. The local company's assets were sold out of bankruptcy last year to California-based EPV Corp., but the new company has struggled to attract customers.