Charlotte
Charlotte sees spike in foreclosure sales
May 31, 2013
(The Charlotte Observer)
Charlotte foreclosure sales rose 45% during the first quarter this year, bucking a national trend of declines, according to data from RealtyTrac. That reflected more foreclosures in the region.
Charlotte's large companies stash cash overseas
May 30, 2013
(The Charlotte Observer)
Charlotte's largest companies are storing $22 billion in earnings overseas, a practice that recently came under increased scrutiny because of tech giant Apple's practices. It would cost the companies $5 billion in taxes to bring those earnings back to the U.S.
Food Lion parent shaking up grocery store business
May 30, 2013
(The Charlotte Observer)
Belgian grocer Delhaize, the parent of Salisbury-based Food Lion, is shaking up its U.S. grocery store business, selling its Harveys, Sweetbay and Reid’s banners to rival Bi-Lo for $265 million. Harveys and Reid's are also based in Salisbury, but what the impact would be on jobs was not immediately clear.
Alcoa could sell Yadkin River hydro license
May 30, 2013
(The Charlotte Observer)
A transaction by Alcoa last year has raised questions of whether it is seeking a renewal of its Yadkin River hydro license just to flip the asset for a profit.
Report: North Carolinians below average in 'financial capability'
May 30, 2013
(The Charlotte Observer)
North Carolinians are below the national average in "financial capability" -- measured by unpaid medical debt, savings and financial knowledge, according to a report from the Financial Industry Regulatory Authority.
Upscale apartment complex planned for Charlotte
May 30, 2013
(The Charlotte Observer)
Charlotte-based Crescent Communities is proposing a $50 million mixed-use development in the city's Dilworth neighborhood that would include 300 luxury apartments and retail space. The complex is expected to open spring 2015.
Hagan announces support for more Charlotte-Brazil flights
May 30, 2013
(The Charlotte Observer)
U.S. Sen. Kay Hagan is asking the U.S. Department of Transportation to extend U.S. Airways direct flights between Charlotte and Sao Paulo, Brazil. The airline currently is leasing the flight slots from United Airlines, but needs approval to operate the flights past October 2014.
North Carolina files second suit against Duke Energy
May 29, 2013
(The Charlotte Observer)
North Carolina has filed a second suit against Charlotte-based Duke Energy, claiming the utility's Riverbend plant near Charlotte is seeping contents of its ash ponds into Mountain Island Lake and posing "a serious danger."
First National Bank deal awaits shareholder vote
May 29, 2013
(The Star, Shelby)
Regulators have approved Arkansas-based Bank of the Ozarks purchase of Shelby First National Bank, and the deal awaits approval from its shareholders now. The vote is expected in the next few weeks.
Charlotte home prices continue to rise
May 29, 2013
(The Charlotte Observer)
Charlotte's home prices rose 7% in March compared to the year before, according to the Standard & Poor’s/Case-Shiller home price index — its largest gain in more than seven years. Nationally home prices rose 10.2%.
Rowan chamber lobbies to bring back 'Sleepy Hollow'
May 28, 2013
(The Salisbury Post)
The Rowan County Chamber of Commerce is trying to lure the Fox television show Sleepy Hollow back for filming after it produced its pilot episode in the region this spring. The chamber is asking businesses to share positive experiences they had during the initial filming.
Charlotte Bobcats name new coach
May 28, 2013
(The Charlotte Observer)
The Charlotte Bobcats named Steve Clifford, a veteran assistant coach formerly with the Los Angeles Lakers, as its new head coach. The troubled NBA team fired Mike Dunlap after just one season.
Queens University seeks to beef up banking programs
May 28, 2013
(The Charlotte Observer)
Queens University in Charlotte is considering adding a banking concentration to its business school to help supply community and midsize banks with more talent in the field.
Private equity firms eye Harris Teeter
May 24, 2013
(The Wall Street Journal)
Private equity firms Cerberus Capital Management and Bain Capital are both considering bidding for Matthews-based grocer Harris Teeter, though a sale is far from assured.
NASCAR battles to increase attendance
May 24, 2013
(The Charlotte Observer)
Attendance revenue is down at the companies that put on NASCAR races, including Charlotte-based Speedway Motorsports Inc. as the sport continues to recover from the recession.
New Chiquita CEO stresses core business
May 24, 2013
(The Charlotte Observer)
Chiquita Brands International is focusing on its core business of bananas and salads and discarding the newer product lines the company attempted, new CEO Ed Lonergan said at the company's annual meeting in Charlotte. The company has struggled with declining revenue in recent years.
New toll lanes appear likely for I-77
May 24, 2013
(The Charlotte Observer)
The Mecklenburg-Union Metropolitan Planning Organization voted unanimously to add new toll for Interstate 77 to the group's long-range plans, a move that likely paves the way for the $550 million project, which would add new toll lanes between Charlotte and Mooresville.
Race move would hurt Cabarrus economy
May 24, 2013
(The Charlotte Observer)
If Bruton Smith moves a fall NASCAR race from Charlotte Motor Speedway as he has threatened, it would have a ripple effect on Cabarrus County's economy, particularly the hospitality industry as fewer visitors stay nearby.
NewDominion Bank completes $10M capital raise
May 24, 2013
(The Charlotte Observer)
Charlotte-based NewDominion Bank finished raising $10 million as part of an effort to help it shore up its balance sheet. The company has been operating under a regulatory consent order.
Charlotte foreclosure rate drops
May 24, 2013
(The Charlotte Observer)
Charlotte's foreclosure rate fell to 2.6% in March, an improvement from 3.4% the same month a year ago, according to CoreLogic. That rate is better than the national rate of 2.8% but worse than North Carolina's, which was about 2%.
