Business

Business news from Charlotte and the Carolinas.

Charlotte Airport Scraps Recycling Partner

Jul 24, 2015
Julie Rose

Three years ago, Charlotte-Douglas Airport officials celebrated the opening of a new trash sorting facility. The goal was to turn a profit on recyclables within five years. It’s not turning out that way.


Jennifer Lang / WFAE

The pending merger of Family Dollar Stores and Dollar Tree now appears to be headed toward completion in early July.  


Bank of America is one of six financial institutions hit with a total of nearly $1.8 billion in fines Wednesday by the Federal Reserve. The fines stem from foreign currency trade violations. 

Mike Linksvayer / Flickr https://creativecommons.org/publicdomain/zero/1.0/

About forty protesters rallied outside Duke Energy’s headquarters, chanting “Up with solar, down with coal,” as shareholders left the annual meeting. The clash between environmental advocates and Duke Energy about solar energy and fossil fuels also extended inside the meeting, even the demonstrations.


Bank of America shareholders Wednesday re-elected the bank’s board of directors at its annual meeting despite intense opposition from two shareholder advisory firms. The opposition stemmed from the bank’s decision last fall to also make CEO Brian Moynihan the bank’s chairman. Shareholders also affirmed the board’s decision to give a $13 million compensation package to Moynihan.

Shareholders re-elected Bank of America’s board of directors at today’s annual meeting despite intense opposition from two shareholder advisory firms. The opposition stemmed from the bank’s decision last fall to also make CEO Brian Moynihan the bank’s chairman. Many shareholders argued that should have been put up for a vote.

Shareholders also approved the board’s recent decision to drop Moynihan’s compensation package by a $1 million, to $13 million. All but $1.5 million of that is in company stock.

American Airlines Group

American Airlines announced their first quarter profits Friday. And they were a record $932 million. It’s great news for the airline and their stockholders and certainly noted by North Carolina lawmakers. 

Belk Exploring Possibility Of Selling Company

Apr 3, 2015
Belk

Charlotte may be losing another one of its iconic, homegrown retailers.

Belk, a third-generation department store chain that dates to the 1880s, confirmed Thursday that it has hired an investment bank to help it explore a possible sale or other “strategic alternatives.”

The 2014 bonuses for five of Duke Energy’s top executives were cut by 35 percent. This is response, the company says, to last year’s coal ash spill into the Dan River. 

Duke Energy saw earnings fall last year, and it expects lower earnings than analysts have projected next year. Still, many on the company’s earnings call Wednesday were upbeat.


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