Charlotte

Big projects on the agenda for Charlotte City Council

January 19, 2016

(Charlotte Agenda)

Charlotte City Council could vote on several big development projects at Tuesday's meeting, including rezoning a 27-acre parcel near SouthPark mall to allow for a project that would replace an aging apartment complex with 1,100 homes, more than 500,000 square feet of office and retail space and 300 hotel rooms.

To handle SouthPark's growth, Charlotte looks to outside experts

January 18, 2016

(The Charlotte Observer)

Charlotte is hiring the nonprofit Urban Land Institute to study how to transform its SouthPark neighborhood from a suburban shopping district into a denser, urban area that is more pedestrian-friendly. Nearly 2,400 new apartments are planned for the SouthPark area, where about 67,000 people work.

Lowe's to hire 46,000 seasonal workers

January 15, 2016

(The Charlotte Observer)

Mooresville-based Lowe's is betting on an improved housing market by planning to hire 15% more seasonal workers than last year. The home-improvement retailer, which employs about 265,000 people at more than 1,800 stores, is hiring now for jobs that will start in February.

China's Haier buying GE appliance business

January 15, 2016

(WRAL.com)

China's Haier Group will buy General Electric's appliance business for $5.4 billion. Electrolux, which has its North American headquarters in Charlotte, abandoned plans to acquire the unit in December after the federal government raised antitrust concerns. GE Appliances is based in Louisville, Ky. Parent company GE recently said it chose Boston over North Carolina for its new headquarters and 800 jobs.

Duke Energy's Weber moving to Lowe's

January 15, 2016

(The Charlotte Observer)

Jennifer Weber, 49, will become chief human resources officer at Lowe's, overseeing the Mooresville company's 265,000 employees. Weber has worked for Duke Energy since 2008 and was most recently executive vice president of external affairs and strategic policy.

Wells Fargo cuts 39 technology jobs in Charlotte

January 15, 2016

(The Charlotte Observer)

The layoffs affect only a small percentage of the bank's workforce of 23,500 in Charlotte. Nationwide, 121 technology jobs will be eliminated. A Wells Fargo spokesman said the bank will try to help affected employees find other jobs within the company.

LendingTree topples 29% after raising growth estimates

January 14, 2016

Shares of Charlotte online lender LendingTree tumbled 29% Wednesday on another bad day for stocks. The decline came despite comments from the company that it expects to report annual revenue growth of 51% and operating gains of about 80% when it releases earnings later this month.

Parker Poe law firm opens Atlanta office

January 14, 2016

(The Charlotte Observer)

Charlotte-based Parker Poe Adams & Bernstein has opened an Atlanta office, its sixth location and the first outside of the Carolinas. Several attorneys previously with McGuireWoods LLP have joined the firm, including Robert Florence, whose background is in the pharmaceutical industry.

Red Ventures invests in NY education site

January 14, 2016

(The Charlotte Observer)

Red Ventures invested $4 million in New York-based CourseHourse, a site that helps adults enroll in educational programs from informal cooking classes to university courses. The Indian Land, S.C.-based marketing firm, which announced in December plans to add 500 jobs in Charlotte, has made several investments in educational providers over the last year.

MetLife plans to spin off life insurance business

January 13, 2016

(The Charlotte Observer)

Insurer MetLife says it is considering a spinoff, sale or initial public offering of its life insurance business and the new company would be based in Charlotte, where the New York-based company employs more than 1,500. A company spokesman said the changes would have no impact on its Cary Global Technology Campus, which employs more than 1,000 people.

Panthers playoff game could have $5M impact on Queen City

January 13, 2016

(The Charlotte Observer)

If you're planning to attend this weekend's divisional playoff game between the Carolina Panthers and the Seattle Seahawks, it won't be cheap. The average ticket price was $465.65 on Tuesday. Fans traveling from Seattle weren't able to book hotels and flights in advance, which is typically less expensive, since the matchup wasn't set until Sunday when the Seahawks beat Minnesota 10-9.

Feds close investigation into Carolinas HealthCare System

January 13, 2016

(The Charlotte Observer)

The U.S. Department of Labor took no action in a long-running case against the Charlotte-based health care system, though it could revisit the case in the future. The investigation centered on MedCost, a for-profit health benefits company owned by CHS. A whistleblower asked the Labor Department to determine whether ownership of the company represented a conflict of interest.

Charlotte City Council backs I-77 toll lanes

January 12, 2016

(The Charlotte Observer)

Council members voted 7-4 to support the $647 million project that will add toll lanes on 26 miles of Interstate 77 in Mecklenburg and Iredell counties. Their vote means the project, already under construction, is likely to continue despite vocal opposition from leaders and residents of several towns in north Mecklenburg.

Federal judge OKs Duke's compliance plans

January 12, 2016

(The News & Observer, Raleigh)

Senior U.S. District Judge Malcolm Howard approved Duke Energy's compliance plans related to a $102 million coal-ash settlement last year. The Charlotte-based utility agreed to pay $68 million in fines and $34 million for environmental projects after pleading guilty to violations of the Clean Water Act.

Gordon Food opens Kannapolis distribution center

January 12, 2016

(Independent Tribune, Concord)

Michigan-based Gordon Food Service plans to cut the ribbon on its $58 million distribution center in Kannapolis on Tuesday. The family-owned company eventually plans to employ up to 275 people at the 300,000-square-foot center.

Charlotte's Beacon Partners building 2nd spec building in Concord

January 12, 2016

(The Charlotte Observer)

The real-estate investment company has begun construction on a 309,536-square-foot building at RiverOaks Corporate Park near Concord Regional Airport. Plans call 1.4 million square feet of manufacturing and logistics space at the park. Beacon's other projects include a seven-story office building on East Morehead Street near uptown Charlotte.

Electrolux CEO steps down

January 11, 2016

(The Charlotte Observer)

A month after Electrolux's failed bid to acquire General Electric's appliance division for $3.3 billion, Chief Executive Officer Keith McLoughlin is stepping down. Jonas Samuelson, head of the appliance maker's Europe, Middle East and Africa business, will take over as CEO on Feb. 1. Electrolux's North American headquarters is in Charlotte.

Howard Levine steps down as CEO of Family Dollar

January 11, 2016

(The Charlotte Observer)

Gary Philbin, president and chief operating officer since July, will continue to lead the Matthews-based retailer. When Virginia-based Dollar Tree acquired Family Dollar about six months ago, the company said at the time that Levine would remain with the company for two years. Levine, who will step down Jan. 15, will receive a "golden parachute" of up to $12 million, according to an estimate in a securities filing from October 2014.

US Bank promotes Charlotte-based exec

January 8, 2016

(The Charlotte Observer)

Jim Kelligrew was promoted to co-head U.S. Bank's wholesale banking division. Kelligrew, whose résumé includes stints at Wachovia and Bank of America, most recently served as head of fixed income and capital markets for the Minneapolis-based bank. He will remain based in Charlotte, where the bank employs about 350 people. U.S. Bank entered the Charlotte market in 2005 when it acquired Wachovia's corporate trust and institutional custody businesses.

Rooms to Go closes Charlotte distribution center

January 7, 2016

(The Charlotte Observer)

The Florida-based furniture retailer is consolidating distribution at its new 1.45-million-square-foot facility in Dunn. About 50 of 88 workers at the Charlotte distribution center will relocate to Dunn.