Business

Charlotte, Future Capital Of Big Data?

Ben Bradford — Tue, 21 May 2013 15:20:04 +0000

When it comes to the technology industry, Charlotte isn't usually listed as a hub. That title goes to places like Silicon Valley, New York, Boston and Seattle. But, Charlotte shows a lot of promise in the emerging technology field known as "Big Data."

Bank Of America Shareholders Approve Executive Pay

Tasnim Shamma — Wed, 08 May 2013 19:15:30 +0000

Bank of America held its annual shareholders' meeting in Charlotte today. CEO Brian Moynihan began the meeting highlighting the company's financial gains. He says the company has seen large growth in deposits and credit card accounts and has helped close to 2 million homeowners avoid foreclosure. He says internally, the company has been able to reduce costs to more quickly increase payouts for its shareholders.

US Airways Mechanics File For Election To Join Teamsters

Tasnim Shamma — Wed, 08 May 2013 13:03:56 +0000

US Airways mechanics and technicians now have enough signatures to call for a union vote. At a news conference in south Charlotte, they announced that nearly 3,000 mechanics and technicians signed a petition to hold an election to be represented by another union, the Teamsters. Mechanics complained about low wages, high insurance premiums and poor representation by their current union, The International Association of Machinists. Luis Martinez is a lead mechanic for US Airways in Charlotte.

Incentives That Landed Iron Man 3 Production Under Legislative Review

Tasnim Shamma — Sat, 04 May 2013 00:27:37 +0000

Iron Man 3 – one of the most expensive films to ever come out of North Carolina – hit theaters Friday. It received $20 million in state incentives and lawmakers are now debating a bill that would remove the state's film tax credit – the same credit that brought the Iron Man 3 production to the state.

SC Could Get An Early Out Of Amazon Tax Exemption Deal

Julie Rose — Wed, 24 Apr 2013 20:07:21 +0000

U.S. Senators are poised to pass a measure this week that would mean new taxes for South Carolina online shoppers who frequent Amazon. The state granted Amazon an exemption to collecting sales tax until 2016, but that deal would end if Congress passes the so-called Marketplace Fairness Act.

Chinese IT Firm Calls Charlotte Home, Adds 200 Jobs

Tasnim Shamma — Tue, 23 Apr 2013 15:27:04 +0000

One of China's largest IT consulting firms, Pactera, announced Monday it's adding 200 jobs in Charlotte over the next few years and making the city its U.S. headquarters.

Publix Breaks Ground In Charlotte

Ben Bradford — Fri, 29 Mar 2013 14:08:05 +0000

Between Harris Teeter, Food Lion, Walmart, Target, and Family Dollar, North Carolina has a lot of competitors in the grocery business. Now, add one more. Publix, the upscale Southern supermarket chain broke ground Thursday on a new store in Ballantyne, its first in North Carolina. The move is the latest volley in a supermarket war.

Foreign Investment Created 7,000 NC Jobs In 2011

Ben Bradford — Wed, 27 Mar 2013 21:21:18 +0000

North Carolina created more jobs in 2011 through out-of-state and international investment than any other place in the U.S., according to an annual report IBM produces for clients.

Celebrating 45 Years With US Airways (Well, Sort Of)

Tasnim Shamma — Fri, 22 Mar 2013 13:40:24 +0000

These days, it's not that often that employees work for the same company for most if not all of their careers. Thursday night, US Airways celebrated employees who have done just that.

Start-Ups Struggle To Find Local Investment

Ben Bradford — Wed, 13 Mar 2013 14:08:46 +0000

When it comes to start-up technology businesses, let’s just say Charlotte is no Silicon Valley. The local start-up scene has made some recent strides, though. Packard Place in Uptown has emerged as a hub for technology entrepreneurs and last year launched RevTech Labs, a program offering space and support for early-stage companies. The first group graduated five months ago, but they’ve struggled to attract local investors—a common complaint of Charlotte start-ups.