Business

Business
4:25 pm
Thu September 20, 2012

Reports Of New BofA Layoffs Misleading

Bank of America branch.
MoneyBlogNewz/Flickr

Headlines Thursday were full of news that Bank of America will cut 16,000 jobs by the end of the year. But the headlines can be misleading.

These layoff reports give the impression that every few months there's another major bloodletting at Bank of America. In fact, this latest 16,000 number - and others we've heard in recent months - are all part of the same job cuts announcement Bank of America made last September -  30,000 jobs it said it would cut.

At that time, Bank of America CEO Brian Moynihan described a plan to get the bloated bank back to its fighting weight.

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Business
12:00 am
Sat August 25, 2012

Small Towns Left Behind In N.C. Recovery

Interstate highway.
Dougtone/Flickr

Almost all North Carolina counties have a lower unemployment rate than they did a year ago. But the latest job numbers show that the state’s economic recovery is much more concentrated than that.

Here’s a simple theory to explain job growth: do you live near an interstate?

"Most of the improvements in the state’s unemployment rate are coming along the I-40 and the I-85, I-95 corridors," said Allan Freyer, an analyst for the N.C. Budget and Tax Center.

Freyer said big cities off the interstates are the only places really recovering in North Carolina. 

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Business
3:50 pm
Mon August 20, 2012

Lowe's Earnings Fall Short Of Expectations

Lowe’s home improvement earned 10 percent less from May to August than it did last year. The Mooresville-based company now says it won’t make as much money this year as it had previously estimated.

Lowe’s earnings fell short of its own expectations and Wall Street analysts’.

The nation’s second-largest home improvement chain has been restructuring. A big part of that is making it easier for customers to shop online, on mobile devices and in the stores. CEO Robert Niblock said on a conference call with investors the company is making progress on those initiatives.

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Business
12:00 am
Thu August 16, 2012

Blended Duke/Progress Fleets Bring Savings

The trading floor at Duke Energy's Uptown headquarters.

The merger between Duke and Progress Energy is still under investigation by state regulators, but that hasn't stopped the companies from moving ahead with the marriage.

They're actually obligated to start generating significant savings for customers right off the bat. Much of those savings originate in a heavily-secured room full of computer screens at Duke's Uptown headquarters.

As marriages go, Duke and Progress are a blended family in the Carolinas, not unlike the Brady Bunch.

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Business
12:00 am
Wed August 15, 2012

Chiquita CEO Shares Lessons On The Way Out

Fernando Aguirre

Layoffs and cost-cutting are underway at one of the most recent marquee companies to relocate to Charlotte. Chiquita Brands International announced a restructuring plan last week that will cut 300 jobs in the coming months, including 15 here in Charlotte. . . and that CEO Fernando Aguirre is on his way out.

It was a disappointing surprise for the Charlotte business community, but not for Aguirre.

He was pleased to see banana pudding on the menu for business leaders at a Rotary club lunch yesterday

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Business
2:20 pm
Mon August 13, 2012

Duke CEO Reassures Florida Regulators

Jim Rogers

Duke CEO Jim Rogers again took questions from regulators today - this time in Florida, where the company now has a presence thanks to its merger with Progress Energy.

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Business
3:22 pm
Wed August 1, 2012

Canada Home Improvement Retailer Rejects Lowe's Buyout Offer

Canada’s largest home improvement retailer has rejected an offer from Lowe’s to buy the company. WFAE’s Marshall Terry has more on that story.

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