Charlotte

Huntersville tire distributor grows through acquisitions, investments

June 29, 2015

(The Charlotte Observer)

American Tire Distributors' net sales have more than doubled over the last five years, from $2.17 billion in January 2010 to $5.03 billion in January 2015. The Huntersville-based company, which serves as a middleman between tire manufacturers and retailers, narrowly missed earning a spot on the Fortune 500 list of largest companies ranked by revenue, coming in at No. 514.

Sealed Air has begun hiring in Charlotte

June 26, 2015

(The Charlotte Observer)

Sealed Air broke ground Thursday on its new headquarters, where it plans to employ 1,262 with an average annual salary of about $120,000; about half of those workers are expected to be local hires. The company, which had revenue of $7.8 billion in 2014, said it has already hired about 180 people in Charlotte.

Food Lion parent to be acquired for $10.4B

June 25, 2015

(The Charlotte Observer)

Dutch grocery-retailer Royal Ahold will buy Delhaize, the Brussels-based parent of Food Lion, for about $10.4 billion. Potential impact on Food Lion's 2,300 employees at its Salisbury headquarters is unclear.

Sealed Air breaks ground on Charlotte HQ

June 25, 2015

(The Charlotte Observer)

Sealed Air will break ground on its new Charlotte headquarters on Thursday. The maker of Bubble Wrap is moving its headquarters from Elmwood Park, N.J., and plans to employ more than 1,200 people in Charlotte.

Electrolux CEO stepping down

June 25, 2015

(The Charlotte Observer)

Keith McLoughlin is stepping down as CEO of Swedish appliance-maker Electrolux, a little more than two months after Jack Truong resigned as CEO of the company's North American division. Electrolux North America said earlier this month it was cutting 1% of its workforce, including an undisclosed number at its Charlotte headquarters.

Movie-studio project could be headed to SC

June 25, 2015

(The Charlotte Observer)

Studio South, the company that once proposed building movie studios at the site of the former Eastland Mall in Charlotte, is now considering building a $125 million studio complex on the Catawba Reservation in York County, S.C.

Trucking-software company bringing 191 jobs to Hickory

June 24, 2015

(The Charlotte Observer)

Blue Bloodhound will create 191 jobs over three years in Catawba County. The company, which provides software for the trucking industry, will invest $400,000 in its location in the historic Moretz Mills in downtown Hickory.

Duke Energy to close 12 ash ponds

June 24, 2015

(The Charlotte Observer)

Duke Energy announced plans to remove coal ash from 12 ponds, mostly from its plants in Chatham County and Goldsboro. Most of the ash would be stored in open-pit clay mines in Chatham and Lee counties. The utility began excavating ash from its Riverbend power plant near Charlotte last month.

Google begins building fiber network in Charlotte

June 24, 2015

(The Charlotte Observer)

Google said it has begun construction of its high-speed Internet fiber network in northern parts of Charlotte and Mecklenburg County, though the company declined to provide a timeline for completion.
Related: Google to begin construction of Triangle fiber-optic network

Charlotte wins bid to host 2017 NBA All-Star Game

June 23, 2015

(The Charlotte Observer)

Charlotte will host the 2017 NBA All-Star Weekend, an event that attracts thousands of basketball fans from across the country. Other cities that have hosted the game have seen an economic impact of around $100 million. Charlotte City Council last fall approved spending $27.5 million over five years for renovations at Time Warner Cable Arena, which will host the February event.
Related: Charlotte businesses could see sales boost from 2017 NBA All-Star Game

Charlotte's Allen Tate dies at 84

June 23, 2015

(The Charlotte Observer)

Allen Tate, who founded a Charlotte-based residential real-estate firm that now has about 40 offices in the Carolinas, died Monday after years of declining health. He was 84.

Northwood Ravin wins bidding war in uptown Charlotte

June 23, 2015

(The Charlotte Observer)

Charlotte City Council voted to sell a 3.8-acre parcel of uptown land to local apartment developer Northwood Ravin, which offered almost $14.2 million for the property. Another company, Morgan Bond, offered an upset bid of $15.1 million, but the company failed to meet a deadline for an escrow deposit. Four companies had bid on the property at Stonewall and Caldwell streets.

Premier's Devore is NC's highest paid CEO

June 22, 2015

(The Charlotte Observer)

Susan Devore, CEO of Charlotte-based Premier, earned $24.9 million in total compensation last year, marking the first time a woman has ranked as the highest paid executive of a North Carolina-based public company.

Charlotte City Council to vote on plans for Stonewall property

June 22, 2015

(The Charlotte Observer)

Charlotte City Council will decide Monday on whether to sell a 3.8-acre parcel of uptown land to local developer Northwood Ravin, which offered nearly $14.2 million for the property, or Morgan Bond, which put in a higher bid but didn't provide a fully funded escrow account before the deadline. Four developers have bid on the property.

Dollar Tree to slash prices, update look of Family Dollar stores

June 19, 2015

(The Charlotte Observer)

Dollar Tree CEO Bob Sasser says the company plans to cut prices of some items and spruce up the appearance of Family Dollar stores after its $8.5 billion acquisition of the Matthews-based retailer is complete. The deal, expected to close in early July, will give the combined company more than 13,000 stores.

CLT considers ways to welcome Uber, Lyft

June 18, 2015

(The Charlotte Observer)

Aviation Director Brent Cagle says Charlotte Douglas International Airport could create a designated spot for ride-booking services such as Uber and Lyft to pick up and drop off passengers. Cagle also said he wants to create a remote parking lot to serve as a dispatch hub for taxis, shuttles and ride-sharing companies.

Steel Tube expanding in Statesville

June 18, 2015

(Winston-Salem Journal)

Steel Tube will double production capacity at its Statesville plant, adding 32,000 square feet and up to 20 new employees. The company makes galvanized steel tubing for construction and other industries.

SouthPark mall begins interior, exterior renovations

June 18, 2015

(The Charlotte Observer)

Charlotte's SouthPark mall is getting a facelift, including enhancements to the front entrance and food court and new seating areas with Wi-Fi availability and chargers. Gastonia-based Pinnix will handle construction, which begins this month. The mall will remain open during the renovations.

ATI to invest $70M in Union County expansion

June 17, 2015

(The Charlotte Observer)

Allegheny Technologies announced a $70 million expansion of its Monroe facility that could add 70 jobs. The Pittsburgh-based company, Union County's largest private employer, makes specialty materials and components for aerospace, defense and other industries. The city will give the company 57 acres to construct a new building, with room for possible future expansion.

Analysts expect Family Dollar to drop prices after acquisition

June 17, 2015

(The Charlotte Observer)

Analysts with Sterne Agee said prices could drop at Family Dollar's retail stores following the $8.5 billion acquisition by Dollar Tree, which is expected to close in early July.