Charlotte

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.

Curtiss-Wright announces stock buy-back

September 26, 2014

(The Charlotte Observer)

Curtiss-Wright Corp. announced it will buy back $300 million of its stock beginning in January. The manufacturer of aerospace and industrial equipment moved its headquarters from New Jersey to Charlotte in January.

Siemens to provide CPCC with $32 million in software

September 25, 2014

(The Charlotte Observer)

Siemens will donate software valued at $32 million to Central Piedmont Community College in Charlotte to train students enrolled in advanced-manufacturing courses. The company's product lifecycle management software is used by thousands of companies worldwide, including more than 120 in North Carolina. The German engineering company employs about 1,600 in Charlotte.

Charlotte delays plans for amateur sports complex

September 25, 2014

(The Charlotte Observer)

Florida-based GoodSports Enterprises Global has been unable to secure financing for a proposed amateur-sports complex near Bojangles' Coliseum in east Charlotte. The latest project plan called for the city to contribute $25 million towards the project, which would include a 150-room hotel and field house.

NY tech company moves headquarters to Charlotte

September 25, 2014

(The Charlotte Observer)

Velocity Technology Solutions will relocate next month from New York City to Charlotte, where it will initially employ 50 people. The cloud-computing company expects to expand its employment to more than 200 over the next few years.

Federal judges coming to Charlotte for hearing on NC voting law

September 25, 2014

(The Charlotte Observer)

A three-judge panel from the 4th Circuit Court of Appeals in Richmond, Va. will meet in Charlotte Thursday to decide whether North Carolina's new election law is discriminatory and should be put on hold for the Nov. 4 election. Critics say the law discriminates against African-Americans and Latinos by making it harder for them to vote. 

Foxx says local leaders should resolve Charlotte airport situation

September 24, 2014

(The Charlotte Observer)

In his first public comments on the issue, U.S. Transportation Secretary Anthony Foxx called the debate over who should run Charlotte Douglas International Airport "an unnecessary mess" and said it would be best if the issue was resolved locally. The former Charlotte mayor gave no timeline for when the FAA might decide whether a state-appointed commission can assume control of the airport (cover story, September 2013).

Charlotte ranked No. 1 Big-City Bargain

September 24, 2014

(The Charlotte Observer)

Money magazine ranked Charlotte first in the Best Big-City Bargain category of its 2014 Best Places to Live rankings. Criteria included affordability of housing, economic strength and other livability data. Phoenix, Fort Worth, Texas, Boston and Chicago completed the top five. On its overall best places to live list, Cary and Chapel Hill ranked 19th and 36th, respectively. 

Duke Energy part of $8 billion wind project in Western U.S.

September 24, 2014

(The Charlotte Observer)

A company co-owned by Charlotte-based Duke Energy is part of an $8 billion proposed wind-energy project that would generate twice as much electricity as the Hoover Dam. Duke-American Transmission Co. is among four companies partnering on the project, which would store energy generated in Wyoming and later sell it to the city of Los Angeles.

BofA ranks first in consumer deposits; BB&T at No. 13

September 24, 2014

(Winston-Salem Journal)

Charlotte-based Bank of America Corp. ranked first in the nation in total consumer deposits with $455.3 billion, according to a second-quarter report by SNL Financial. Wells Fargo & Co. ranked second with deposits totaling $405.4 billion, while Winston-Salem-based BB&T Corp. came in at No. 13 with $45.7 billion.

Pest-control product maker to hire 380 in Mooresville

September 23, 2014

(The Charlotte Observer)

Earth-Kind Inc. will invest $5.8 million and plans to create 380 jobs over four years at a plant in Mooresville. The Bismarck, N.D.-based company makes non-toxic pest control products, and counts John Deere, Tractor Supply and ACE Hardware among its customers. 

Siemens to buy Houston energy-services company for $7.6 billion

September 23, 2014

(The Charlotte Observer)

Europe's largest engineering company, which employs about 1,600 in Charlotte, will buy a Houston-based oil-services company for $7.6 billion. Dresser-Rand makes equipment for the oil- and gas-industry, including for hydraulic fracturing. Munich-based Siemens also plans to move the headquarters of its energy businesses to the U.S.

Brazil-based adhesives manufacturer to open Gaston County plant

September 23, 2014

(The Gaston Gazette)

Dalton Dynamics Corp. will invest at least $2 million in a 25,000-square-foot plant in Gastonia where it will produce industrial adhesives for automotive and other industries. The Brazil-based company, which expects to hire about 25 people, credits the area's proximity to Charlotte Douglas International Airport and quality of life.

U.S. government opposes BofA request to throw out 'Hustle' verdict

September 22, 2014

(The Charlotte Observer)

In court filings last week, the federal government expressed opposition to Bank of America's request that a federal judge throw out the jury verdict that found the Charlotte-based bank liable for Countrywide Financial's sale of faulty mortgage bonds to Fannie Mae and Freddie Mac.

Uptown park kicks off First Ward development project in Charlotte

September 19, 2014

(The Charlotte Observer)

Charlotte developer Daniel Levine broke ground Thursday on a 4-acre park in uptown's First Ward. The park is the first phase of a major redevelopment project that will create what Levine calls Charlotte's version of New York's Greenwich Village. The development could include as much as $1 billion in offices, retail, hotels and 1,500 residential units and will take 12 to 15 years to build, Levine says.

Former Philip Morris plant will house electric battery maker

September 18, 2014

(The Charlotte Observer)

The company that bought the former Philip Morris cigarette plant in Concord will make batteries for electric vehicles and other commercial uses, according to online job advertisements. Victory Industrial Park paid $68.5 million for the 2,100-acre Cabarrus County site in April. A company spokesman said the business is not ready to make a formal announcement regarding its plans.

Family Dollar rejects Dollar General deal again

September 18, 2014

(The Charlotte Observer) 

Family Dollar rejected Dollar General's third offer within a month, asking shareholders not to sell stock to the Goodlettsville, Tenn.-based retailer. The companies' CEOs first met in October to discuss a potential merger. Matthews-based Family Dollar said Wednesday that CEO Howard Levine agreed at that time that if a deal was made, the combined company's headquarters would be in Tennessee.