Charlotte

Harris Teeter leads Charlotte grocery market

April 11, 2016

(The Charlotte Observer)

Grocery wars are heating up in Charlotte, and the latest market share rankings show Harris Teeter is in the top spot with 19.4%. Food Lion is second, while Wal-Mart Supercenter fell from No. 1 in 2014 to No. 3. However, Wal-Mart leads with 26.6% market share when its Supercenters, Sam's Clubs and Neighborhood Markets are combined. Florida-based Publix was fourth with a 6% market share.

Construction values rise in Cabarrus County

April 11, 2016

(Independent Tribune, Concord)

Cabarrus County issued 752 building permits valued at $134.5 million, higher than the $123.1 million for the same period a year ago and more than double the $57.6 million in 2014. Single-family construction remained strong, with permits issued for 351 homes worth $51.4 million.

Belk signs 15-year lease in Charlotte

April 8, 2016

(The Charlotte Observer)

The Charlotte-based department-store chain is consolidating its corporate headquarters in a 475,000-square-foot space it partially occupies on Tyvola Road in south Charlotte. Belk, which was acquired in December by private-equity firm Sycamore Partners for $3 billion, has about 1,400 employees at its corporate office.

Wells Fargo to offer paid parental leave

April 8, 2016

(The Charlotte Observer)

Beginning June 1, the San Francisco-based bank will provide up to 16 weeks for primary caregivers and up to four weeks for nonprimary caregivers following a birth or adoption. Competitors Bank of America and JPMorgan Chase also introduced paid parental leave policies earlier this year. Wells Fargo employs more than 23,000 in the Charlotte area.

Levine donates $25M to cancer center in Charlotte

April 7, 2016

(The Charlotte Observer)

The Leon Levine Foundation has committed $25 million to help Carolinas HealthCare System expand its Levine Cancer Center, the largest gift in the health system's history. The foundation, named for the founder of Family Dollar Stores, gave $20 million to establish the center in 2010. CHS announced the $150 million expansion last month.

Big renovation planned for Concord Mills

April 7, 2016

(The Charlotte Observer)

A redesigned dining area, four new lounge areas, enhanced Wi-Fi and valet parking are planned as part of a major renovation at Concord Mills, the state's largest outlet mall. Most of the work will be done at night and is scheduled for completion in early 2017. Owner Simon Malls didn't immediately disclose the cost of the project.

PayPal cancels Charlotte project, Red Ventures could be next

April 6, 2016

(The Charlotte Observer)

PayPal announced Tuesday it was scrapping plans for an operations center in Charlotte that would have created 400 jobs. CEO Dan Schulman said that the state's new law limiting protections for LGBT people "really goes against the values of our company." Also, Red Ventures CEO Ric Elias said he is reconsidering a plan to bring 500 jobs to Charlotte. State Republican leaders blamed Charlotte Mayor Jennifer Roberts and the "far-left Political Correctness Mob she's unleashed" for the economic fallout of HB2.

Ally Financial acquisition will add 100 workers in Charlotte

April 6, 2016

(The Charlotte Observer)

The Detroit-based auto lender is buying TradeKing Group, a Florida-based online brokerage firm, for $275 million in cash. The acquisition will add wealth management to Ally's growing list of services and about 100 people to its Charlotte workforce. Ally CEO Jeff Brown is based in Charlotte, one of the lender's main employment hubs. The company will have about 900 workers in the Queen City when the deal is completed.

BofA names new treasurer

April 6, 2016

(The Charlotte Observer)

Bank of America named Andrei Magasiner treasurer, replacing Greg Hackworth who is retiring after two decades with the company. Magasiner is the chief financial officer of investment banking and trading divisions and is based in New York.

Charlotte's Jeld-Wen could go public in the second quarter

April 5, 2016

(The Charlotte Observer)

Door- and window-maker Jeld-Wen Inc. is planning an initial public offering as early as the second quarter, according to people familiar with the matter. The IPO could raise about $500 million, valuing the company at about $5 billion. Jeld-Wen moved its headquarters from Oregon to Charlotte in 2012.

Lincoln Harris closes on downtown Charlotte property for $11M

April 5, 2016

(The Charlotte Observer)

Lincoln Harris closed on the first part of the Charlotte Observer's downtown site, which includes a parking deck, loading dock and warehouse. The Charlotte real-estate firm is scheduled to close on the remainder of the 9.4-acre property by May 2. The Observer is moving to offices in the NASCAR Plaza tower formerly occupied by Chiquita.

Lionsgate cancels Charlotte film shoot over LGBT law

April 5, 2016

(The News & Observer, Raleigh)

The pilot for a new Hulu TV show called Crushed will be filmed in Vancouver, Canada instead of Charlotte. Lionsgate pulled production for the show because of the new state law that limits protections for LGBT people. The California-based studio is shooting a remake of the movie Dirty Dancing in western N.C.; Lionsgate will continue that project due since filming is already underway.

Massive development proposed for southwest Charlotte

March 30, 2016

(The Charlotte Observer)

Crescent Communities and Lincoln Harris unveiled plans for a 1,300-acre development between Charlotte Douglas International Airport and the Catawba River that could include 4,000 residential units, 500,000 square feet of restaurant and retail space and 8 million square feet of office space. The proposed development is similar to the original plan for Charlotte's Ballantyne community, first introduced in 1991.

Charlotte skyscraper sells for $284 million

March 30, 2016

(The Charlotte Observer)

A company with ties to a Nevada businessman paid $284 million for One Wells Fargo, the 42-story "jukebox" building in downtown Charlotte that serves as the East Coast headquarters for the San Francisco-based bank and includes a Hilton hotel. It's the largest price ever paid for an office building in North Carolina, according to the CBRE brokers who represented the seller, a joint venture of Starwood Capital and Vision Properties.

LS3P merging with Savannah architecture firm

March 29, 2016

(Greater Wilmington Business Journal)

LS3P, which has offices in Charlotte, Raleigh and Wilmington, announced its second merger within the last three months. After combining with Hubbard Architecture in Myrtle Beach, the firm now plans to merge with Dawson Architects of Savannah, Ga., adding 20 employees. The Charleston, S.C.-based firm now employs more than 300 architects, designers and staff.

2nd study says Charlotte lags in innovation, entrepreneurship

March 28, 2016

(The Charlotte Observer)

The Charlotte region trails its peers in the amount of money spent on research and development and the number of startups, according to a new study being released Monday. The Charlotte Entrepreneur Growth Report says the Queen City can't rely solely on big businesses to stay successful. The study measured factors including academic funding for R&D, venture-capital investment and the number of patents issued. A study released last week by the Brookings Institution reached similar conclusions.

Pittenger land firm would receive $6M in proposed settlement

March 28, 2016

(The Charlotte Observer)

Investors in Rep. Robert Pittenger's former real-estate company have agreed to a settlement that would end the Pittenger family's role in the company and transfer management to South Street Partners, a Charlotte-based firm. The FBI and IRS are investigating Pittenger Land Investments over personal loans and contributions Pittenger made to his 2012 congressional campaign; Pittenger denies any wrongdoing.

Former Premier exec takes role at Charlotte's Snyder's-Lance

March 28, 2016

(The Charlotte Observer)

Kevin Powers will become senior director of investor relations at snack-maker Snyder's-Lance, replacing Mark Carter who is retiring in mid-April. Powers comes from Premier Inc., also based in Charlotte, and previously worked for Family Dollar Stores and Elan Pharmaceuticals.

Duke Energy CEO earns 30% more in 2015

March 25, 2016

(The Charlotte Observer)

Lynn Good's total compensation jumped 30% last year to $10.8 million, compared with $8.3 million in 2014. The Charlotte-based utility earned $2.8 billion in 2015 and reported revenue of $23.5 billion.

Study: Charlotte lags in R&D and innovation

March 24, 2016

(The Charlotte Observer)

Charlotte has done a good job of integrating its economy in global markets, with 14% of its gross domestic product made up of exports in 2014. But lack of a great research university, patents and research and development keep it far behind other cities in a report by the Brookings Institution.