Charlotte

Dollar Tree CEO has harsh words for Family Dollar's Levine

January 13, 2015

(The Charlotte Observer)

The chief executive of Chesapeake, Va.-based Dollar Tree told Family Dollar Stores CEO Howard Levine he will not accept another delayed shareholder vote on his company's proposed acquisition of the Matthews-based retailer. "After two delays, we have been more than reasonable, but have reached the end of our patience," Bob Sasser wrote in a letter to Levine released Monday.

Charlotte approves deal for writing off NASCAR museum loans

January 13, 2015

(The Charlotte Observer)

The Charlotte City Council approved an agreement in which Bank of America and Wells Fargo will write off $17.6 million in debt and accrued interest from the NASCAR Hall of Fame. The city will pay the banks $5 million toward the debt, which totals more than $22 million. NASCAR also agreed to waive $3.2 million in royalties it's owed but hasn't been paid since the hall has lost money each year since it opened in 2010.

PNC Bank adding no-surcharge ATMs in Charlotte

January 13, 2015

(Winston-Salem Journal)

PNC Financial Services Group, parent of PNC Bank, will add nearly 400 no-surcharge ATMs in CVS, Walgreens and Kangaroo Express stores in the Carolinas, Alabama and Georgia. In North Carolina, most of the new ATMs will be located in CVS drugstores and Kangaroo Express stores in the Charlotte market.

Charlotte-Mecklenburg Police seeks body cameras

January 13, 2015

(The Charlotte Observer)

The Charlotte-Mecklenburg Police Department wants the city to spend $7 million on 1,400 body cameras, providing one for each officer. Charlotte City Council will vote on the purchase Jan. 26.

CommunityOne resumes SBA lending

January 12, 2015

(The Charlotte Observer)

Charlotte-based CommunityOne Bancorp has begun offering Small Business Administration loans for the first time since 2010. On Friday, the bank named an SBA team who will be responsible for generating SBA loans in the Carolinas, Georgia, Tennessee and Virginia. CommunityOne Bancorp, the bank's parent company, was previously known as FNB United and was based in Asheboro.

Valdese Weavers acquires Shelby manufacturer

January 12, 2015

(Hickory Daily Record)

Valdese Weavers purchased Shelby-based textile manufacturer Dicey Mills. Both companies make woven jacquard fabrics for use in upholstery and drapery. Dicey Mills' 67 employees will be merged into the Valdese-based company's workforce of about 900.

Profits sink at Family Dollar as takeover battle shrinks employment

January 9, 2015

(The Charlotte Observer)

Family Dollar Stores has lost employees as a result of uncertainty over the retailer's future, CEO Howard Levine said Thursday. The Matthews-based company's profits fell 47% to $41.4 million in the first quarter, down from $78 million a year ago.

Panthers to renovate luxury suites

January 9, 2015

(The Charlotte Observer)

The Charlotte Panthers will begin renovating 158 luxury suites this month at Bank of America Stadium. The updates are part of a five-year, $125 million renovation plan that began last year with the addition of new escalators and video boards. 

 

Red Ventures gets $250M investment

January 8, 2015

(The Charlotte Observer)

Private-equity firm Silver Lake Partners is investing $250 million in Red Ventures, the internet-marketing company based south of Charlotte in Indian Land, S.C. Silver Lake has more than $23 billion of assets under management and has invested in technology businesses including Alibaba and Dell.

Cabarrus construction hits highest level since 2008

January 8, 2015

(The Independent Tribune, Concord)

Construction spending in Cabarrus County reached $362.4 million in 2014, its highest level since 2008. The overall value of building permits has increased each year since 2010, when spending bottomed out at $182.7 million.

Lincoln Harris could buy Charlotte Observer's uptown site

January 7, 2015

(The Charlotte Observer)

Charlotte developer Lincoln Harris is planning to buy The Charlotte Observer's 9.4-acre uptown site, the newspaper reported. The property is owned by McClatchy, the Observer's parent company. It is unclear when or where the Observer would relocate following the sale, which could close in the second quarter. 

Brazilian firms complete acquisition of Chiquita

January 7, 2015

(The Charlotte Observer)

Cutrale and Safra Group completed their $681 million purchase of Chiquita Brands International, taking the Charlotte-based produce company private. The Brazilian companies haven't said where Chiquita's headquarters will be located. Chiquita was awarded $22 million in state and local incentives in 2011 to move its headquarters from Cincinnati to Charlotte.

Charlotte wants banks to write off NASCAR museum loans

January 6, 2015

(The Charlotte Observer)

Charlotte City Council will vote next week on a proposal that would require Bank of America and Wells Fargo to write off $14.1 million – plus $3.5 million in accumulated interest – in construction loans for the NASCAR Hall of Fame. Under the proposal, the city would make a one-time payment of $5 million toward the $19.1 million loan, and NASCAR would waive past and future royalties on ticket and merchandise sales.

Charlotte developer, New York Life buy uptown office tower for $60M

January 6, 2015

(The Charlotte Observer)

Charlotte-based Grubb Properties and an affiliate of New York Life Insurance will acquire the 525 North Tryon Street office tower for $60 million. Orlando, Fla.-based Parkway Properties paid $47.4 million for the 405,000-square-foot tower in 2012. 

Charlotte-based Falfurrias sells Dorsey Wright for $225M

January 6, 2015

Falfurrias Capital Partners, a Charlotte-based private-equity firm led by Hugh McColl Jr. and Marc Oken, sold its stake in investment company Dorsey, Wright & Associates to New York trading company Nasdaq OMXGroup Inc.

BofA settles with mortgage company over defective loans

January 6, 2015

(The Charlotte Observer)

Bank of America reached a deal with SecurityNational Mortgage to settle claims that the Utah-based bank sold it defective mortgages. SecurityNational said it has made a settlement payment to Charlotte-based BofA; the amount of the payment was not disclosed. 

Family Dollar CEO urges stockholders to support Dollar Tree deal

January 5, 2015

(The Charlotte Observer)

CEO Howard Levine once again urged Family Dollar Stores shareholders to back an $8.5 billion sale of the company to Chesapeake, Va.-based Dollar Tree. In a letter sent to stockholders on Friday, Levine said Dollar General's competing $9.1 billion bid is unlikely to be completed due to antitrust concerns. The Matthews-based retailer delayed a stockholder vote on the sale until Jan. 22.

Frye Regional names new CEO

January 5, 2015

(The Watauga Democrat)

Mark Benz was named CEO of Hickory-based Frye Regional Medical Center. Benz comes from Philadelphia-based CRC Health, where he was a regional vice president. He previously held  leadership roles with Franklin, Tenn.-based Community Health Systems.

White named chairman of Gastonia's Alliance Bank & Trust

January 5, 2015

(The Shelby Star)

Shelby City Council member David White will become chairman of Gastonia-based Alliance Bank & Trust Co., pending FDIC approval. He will succeed Wayne Shovelin, chairman of the board for 10 years, who is retiring. White started Shelby-based White Investments in 1988 and was an organizing member of Alliance Bank & Trust's board in 2004.

American Airlines pilots union approves labor agreement

January 5, 2015

(The Charlotte Observer)

The union representing pilots for Fort Worth, Texas-based American Airlines reached a labor agreement that could increase pay by more than 23%. Charlotte Douglas International Airport is American's second-busiest hub behind Dallas/Fort Worth.