Business

Business
9:56 am
Thu November 8, 2012

Chiquita Loses $67M In Q3, New CEO Stays The Course

Newly-hired Chiquita CEO Ed Lonergan
Credit Julie Rose

Chiquita Brands International announced a $67 million third-quarter loss Wednesday, but the company's new CEO Ed Lonergan  said that was better than he expected in a year beset with relocation expenses and volatility in European markets.  It was Lonergan's first earnings announcement since being hired last month to replace Fernando Aguirre. 

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Business
3:38 pm
Thu October 25, 2012

Can You Really Lift 100 Pounds?

Physical therapist Sandie Warantz lifts a box full of weights to show what potential applicants to a local construction company had to lift.
Tasnim Shamma

If you’re applying for a job with a construction company and say you can lift 100 pounds, you better make sure you can do it comfortably. One Kannapolis employer is now using a new fitness exam for prospective hires aimed at reducing worker’s compensations claims.

At the Northeast Rehab center in Concord, physical therapist Sandie Warantz is showing off one of the first things someone applying for a position with the Wayne Brothers construction company might have to do.

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Business
6:26 am
Mon October 15, 2012

BofA Gets Praise From Housing Counselors

Bank of America's Customer Assistance Center in Northeast Charlotte opened in October 2011.
Julie Rose

When Bank of America announces quarterly earnings this week, foreclosures and defaulting loans will once again be a key part of the equation.

The Charlotte bank has spent four years wading through a sea of troubled mortgages it took on with the 2008 acquisition of Countrywide. Along the way it's become a favorite target of vitriol - often landing on lists of "most hated institutions" in America. 

But recently, WFAE's Julie Rose discovered some of the people on the front lines of the foreclosure crisis are softening toward Bank of America. 

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Business
9:22 am
Thu October 11, 2012

New Top Banana Meets Chiquita Employees - And Charlotte

New Chiquita CEO Ed Lonergan
Julie Rose

The new CEO charged with restoring Chiquita's profits is on the job now and busy introducing himself to the company's 20,000 employees.

Just before speaking with WFAE, he met with an auditorium full of Chiquita employees clad in blue and yellow shirts. Lonergan was impressed.

"That's a really interesting thing for me, because I came here because I have passion for the legacy of this brand and the future potential that it has," says Lonergan. "I also came here because every person I met wears that passion on their sleeve, literally."

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Business
4:29 pm
Tue October 9, 2012

Teams Pull 50-Ton Airplane For Charity

U.S. Airways employees compete in the seventh annual Jet Pull event. The Dual Lane Demons finished with a time of 7.410.
Tasnim Shamma

Fifteen feet doesn’t sound like a lot, unless you’re pulling a 50-ton airplane. And that’s exactly what teams lined up to do at the U.S. airways hangar in Charlotte this morning. They weren’t there just to show off which team had the largest biceps. The goal was to raise money for United Way of Central Carolinas.

There were 26 teams of 20 employees, but Freight Flyers was the most anticipated team. After all, they’re the defending champs.

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Business
5:25 pm
Mon October 8, 2012

Helping The Unemployed Learn On The Job

Sheila Hemphill is a grant specialist with Charlotte Works. She interacts with a lot of job seekers – including many who have been unemployed for a very long time.

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Business
4:52 pm
Wed October 3, 2012

Chiquita Names New CEO

Chiquita's new CEO is better versed in selling soap than bananas, but the company's board believes it needs a someone with turnaround experience right now and Edward Lonergan is their choice. 

News of CEO Fernando Aguirre's exit from Chiquita last month caused some angst in Charlotte. He's been ever-present around town and on Twitter as the charismatic, bow-tie wearing face of the company. . . not to mention the man city leaders dealt with in wooing Chiquita's headquarters here with significant incentives.

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Business
12:51 am
Tue October 2, 2012

Big Banks Now Required To Improve Service On Home Loans

Bank of America

Getting a mortgage modified should be significantly easier as of today - assuming five of the nation's largest lenders deliver on promises they made in a $25 billion settlement signed six months ago.

Today is the deadline for Bank of America, Wells Fargo, JP Morgan Chase, Citigroup and Ally Financial to implement hundreds of improvements to customer service for home loans.

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Business
4:53 pm
Wed September 26, 2012

Bank Websites Under Cyber Attack

The websites of several major U.S. banks, including Wells Fargo and PNC, are under cyber attack today. Reports of trouble accessing online banking are pouring into the tracking website Sitedown.co, says founder Jeff Herdell.

"They're referred to as DDoS attacks," explains Herdell. "Hackers will take over many computers and direct floods of traffic at these bank sites in hopes that the service will be disrupted and go down temporarily. So it's more of a nuisance than anything, but it's very significant right now."

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Business
11:59 am
Wed September 26, 2012

Charlotte Companies Sued For Foreclosure Fraud

Two Charlotte-based foreclosure assistance companies, Community Mortgage Assistance Program and Lender Exchange were sued by North Carolina Attorney General Roy Cooper for foreclosure fraud.

The North Carolina Attorney General’s office filed a lawsuit against three mortgage loan modification companies on Friday. Two of the three companies are based in Charlotte.

According to the lawsuit, one of the companies, Community Mortgage Assistance Program, charged customers up to $1,500 in advance. 

Koy Chiu is executive director of the company. On her website, Chiu advertises: “TIRED OF MODIFICATION SCAMS?! KNOWLEDGE IS POWER! SAVE YOUR HOME TODAY!”.

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