Charlotte

Industrial supply distributor opens co-headquarters in Davidson

September 25, 2013

(The Charlotte Observer)

MSC Industrial Supply Co., which moved 125 workers from its Melville, N.Y. headquarters in August, now has 160 workers at its new Davidson co-headquarters which held its grand opening on Tuesday. The company, which distributes metalworking and industrial supplies, expects to have about 200 employees there by the end of the year and 400 within five years.

US Airways, American Airlines ask DOJ to reveal sources

September 25, 2013

(The Charlotte Observer)

US Airways and American Airlines want to know who the U.S. Department of Justice spoke with before it blocked their proposed merger last month. Attorneys for the two airlines filed a motion that would force the department to reveal names of everyone interviewed during its investigation, as well as specific information that was shared.

Federal judge rules Bank of America must pay $2.2 million to black job applicants

September 24, 2013

(The Charlotte Observer)

The U.S. Department of Labor announced Monday that a judge has ruled Charlotte-based Bank of America racially discriminated against more than 1,000 black job applicants in 1993 and between 2002 and 2005. A group of 1,034 applicants who were refused jobs will receive an average of $932 each; an additional group of 113 will receive an average of $10,775 each.

Charlotte City Council names four to Airport Commission

September 24, 2013

(The Charlotte Observer)

With no decision yet from the Federal Aviation Administration regarding who will run Charlotte Douglas International Airport, the Charlotte City Council, facing an Oct. 1 deadline, appointed four members to the Charlotte Airport Commission, including a former Charlotte city manager, an attorney and a former chair of the N.C. Chamber of Commerce. 

Wells Fargo expects growth in Charlotte securities operation

September 23, 2013

(The Charlotte Observer)

Wells Fargo Securities employs about 2,000 in Charlotte and that number is likely to increase, according to John Shrewsberry, head of the securities division for the San Francisco-based bank. The bank's acquisition of Wachovia Bank allowed it to enter investment banking and expand its capital markets services. 

Salisbury machining company expands, adds workers

September 23, 2013

(The Salisbury Post)

Advanced Machining has expanded into a larger 10,000 square foot space and increased its workforce by 20 percent. Last week the company, which provides machining and tool-making services, held an open house to allow visitors to view its new center for precision metalworking.

Investors account for 20 percent of Charlotte-area home sales

September 20, 2013

(The Charlotte Observer)

A report from real estate data firm RealtyTrac shows that one in five homes sold in the Charlotte area from May to July was purchased by institutional investors, often from out-of-state. Cabarrus, Gaston and Mecklenburg Counties all were included on RealtyTrac's list of "Top 25 Investor-Saturated Single-Family Rental Markets."

Auto parts company pulls sponsorship from Waltrip Racing

September 20, 2013

(The Charlotte Observer)

NAPA Auto Parts, the primary sponsor for Cornelius-based Michael Waltrip Racing, has pulled out of its sponsorship deal with the racing team after its apparent attempt to rig the results of the Sprint Cup race. 

Former Charlotte Wells Fargo employee pleads guilty to insider trading

September 20, 2013

(The Charlotte Observer)

A former Wells Fargo investment banker who was based in Charlotte and two others will plead guilty to insider trading and money laundering, accepting a plea agreement with federal prosecutors in Charlotte. John Femenia is accused of being part of a trading ring which received kickbacks after leaking insider information to friends and business partners. 

Airline workers, lawmakers show support for merger at U.S. Capitol

September 19, 2013

(The Charlotte Observer)

A crowd of about 300 pilots and flight attendants from US Airways and American Airlines rallied in support of the airlines' merger on Wednesday. Rep. Robert Pittenger spoke out, claiming the merger was important to create jobs in Charlotte and other cities where the airlines have hubs.

More Wells Fargo layoffs in Charlotte, Raleigh

September 19, 2013

(The Charlotte Observer)

Wells Fargo announced that 150 Charlotte employees and a smaller number in Raleigh were given 60-day notices on Wednesday. The majority of the jobs cut were in mortgage processing. Just last month, the company announced cuts for 284 workers in Charlotte and 48 in Raleigh.

Construction to begin Friday on Charlotte outlet mall

September 19, 2013

(The Charlotte Observer)

Crews will break ground Friday on Charlotte Premium Outlets, a joint venture between Simon Property Group and Tanger Factory Outlet Centers, at the intersection of Interstate 485 and Steele Creek Road in Southwest Charlotte. The 400,000 square foot mall, expected to open in summer of 2014, has signed Saks 5th Avenue OFF FIFTH as its anchor tenant.

Duke Energy to stop providing health insurance for retirees

September 18, 2013

(The News & Observer, Raleigh)

Retirees of Duke Energy and Progress Energy have begun receiving notices from the Charlotte-based utility indicating the company will discontinue providing free insurance to supplement Medicare coverage. Instead, the company will issue annual stipends, but only if the retirees buy insurance from UnitedHealthcare. About 14,500 retirees will be affected, including 6,600 in North Carolina.

Attorney says FAA "refusing to engage" Charlotte Airport Commission

September 18, 2013

(The Charlotte Observer)

According to attorney Richard Vinroot, the Federal Aviation Administration unwilling to engage in discussions with the newly formed Charlotte Airport Commission. The commission, led by former Charlotte Aviation Director Jerry Orr, is awaiting a decision from the FAA on whether it should be allowed to run Charlottte Douglas International Airport.

Mecklenburg Country approves Carowinds incentives

September 18, 2013

(The Charlotte Observer)

The Mecklenburg County commissioners approved tax incentives of nearly $600,000 for the operator of Carowinds amusement park for an expansion project. Total incentives for Sandusky, Ohio-based Cedar Fair Entertainment Co., when combined with those approved by the Charlotte City Council earlier this week, will be about $925,000.

New fund aims to help entrepreneurs, startups

September 18, 2013

(The Charlotte Observer)

Innovation Fund North Carolina plans to award up to $1.2 million to startups in the fields of agriculture, advanced manufacturing, health care and information technology. Awards will be grants and non-recourse loans, which companies will not be obligated to pay back if their efforts fail.

CityView Commercial buys Gastonia shopping mall

September 18, 2013

(The Gaston Gazette)

Westfield Eastridge Mall will now be called simply Eastridge Mall after CityView Commercial finalized its purchase of the Gastonia mall on Tuesday. CityView has already begun lining up additional tenants for the mall, which is 80 percent occupied. Terms of the sale were not disclosed.

Leadership shakeup at Charlotte's Swisher Hygiene

September 17, 2013

(The Charlotte Observer)

Thomas Byrne, CEO of Swisher Hygiene for the past 13 months, has been moved back to his previous position of executive vice president. William Pierce, a member of the board of directors for the cleaning products and services company, was named the company's new CEO.

Charlotte approves incentives for Carowinds expansion

September 17, 2013

(The Charlotte Observer)

The Charlotte City Council approved an incentive package for Cedar Fair Entertainment, the park's operator, that would provide $330,000 over the next three years. Mecklenburg County commissioners will vote Tuesday on whether to provide an additional incentive for approximately $600,000.

Charlotte US Airways workers divided on merger

September 16, 2013

(The Charlotte Observer)

A group of Charlotte-based US Airways employees including pilots and flight attendants will travel to Washington, D.C. this week to lobby lawmakers to support the proposed US Airways-American Airlines merger. Meanwhile, the airline's fleet service workers and mechanics are growing frustrated as US Airways has yet to agree on a new contract for the group.