Business

Business
5:21 pm
Wed March 27, 2013

Foreign Investment Created 7,000 NC Jobs In 2011

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.


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Local News
8:37 am
Mon March 25, 2013

Defense Industry Starts To Feel The Sequester

Cleveland County defense contractor, Ultra Machines and Fabrication, will lay off as many as 100 employees in May due to cuts in federal contracts. It could be the first in a rising wave of job losses related to the sequester.

In the last three years, Ultra’s received $46 million in federal contracts—what that business, and most defense contractors rely on. But as the sequester and other federal budget cuts kick in, those contracts are drying up.

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Airlines
9:40 am
Fri March 22, 2013

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

Bette Burke-Nash (l) and Joan Myers-Singh worked for Eastern Airlines in Washington D.C. Nash is the longest-serving US Airways employee. She began her career as a stewardess in 1957. Eastern did not merge with today’s US Airways but its hourly shuttle routes between D.C., New York and Boston became part of the airline.
Credit Tasnim Shamma

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.


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Local News
9:31 am
Fri March 22, 2013

US Airways CEO: 'We're Very Concerned' About Charlotte Airport

US Airways CEO Doug Parker speaking to media at the airline's training center in Charlotte on Thursday morning.
Credit Julie Rose

"Agnostic" is how one US Airways executive described the company's stance on whether the Charlotte airport should be overseen by the city or placed in the hands of a regional authority.  US Airways CEO Doug Parker carried that same tune while in town Thursday, but also made it clear the airline doesn't want a backseat entirely. 


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Local News
1:35 pm
Thu March 21, 2013

US Airways CEO Comes To Charlotte To 'Celebrate' Merger

US Airways CEO Doug Parker visited the airline's training facility in Charlotte on Thursday, March 21, 2013 to tout a proposed merger with American Airlines.
Credit Julie Rose

On Thursday, US Airways CEO Doug Parker paid his first visit to Charlotte since the company announced plans to merge with American Airlines. 


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Local News
4:51 pm
Tue March 19, 2013

US Airways, American Merger: A Monopoly Or Not?

US Airways CEO Doug Parker will be in Charlotte this week touting a proposed merger with American Airlines. He'll meet with US Airways employees and members of the Charlotte Chamber of Commerce.

The CEOs of American Airlines and US Airways defended their proposed merger Tuesday before a congressional anti-trust panel. Framing the creation of the world's largest airline as anything other than a monopolistic move requires careful wordsmithing.

To follow the argument from American Airlines CEO Tom Horton, you need to put aside conventional wisdom that having fewer companies in a marketplace leads to anti-competitive behavior.   

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Business
10:08 am
Wed March 13, 2013

Start-Ups Struggle To Find Local Investment

Viddlz founder, Zerrick Bynum, completed the Revtech Labs incubator program in October.
Credit Viddlz.com

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.

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Local News
6:36 pm
Mon March 11, 2013

Concord City Council To Vote On Flight Training Center Incentive

Two Marines use simulation training to practice for situations they are unable to rehearse during regular flights in Havelock, N.C.
Credit flickr/CherryPoint

Concord city council members will vote this week on whether to give a local flight training center a $56,527  tax rebate over three years to expand. FlyRight is a training center located across the street from the Concord Regional Airport. The company plans to invest $5 million to build a second flight simulator. Concord City Manager Brian Hiatt says he hopes this will translate to more business for the airport.

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Local News
2:16 pm
Mon March 11, 2013

City Selects Finalists To Revive Eastland Mall

Charlotte Development and Investment Manager Peter Zeiler (l) gives interested parties a tour of the vacant Eastland Mall in January.
Credit Julie Rose

The City of Charlotte has identified three finalists to breathe life into the now-vacant Eastland Mall and surrounding area.  

The Eastland Mall will not become a doll factory or a multi-generational healthy living community. Those are two of four proposals the city rejected in the first stage of selecting a suitor to remake the 80-acre site on Central Avenue in east Charlotte. But it's still not entirely clear what all three finalists to develop the property have in mind.

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Business
11:49 pm
Sun March 10, 2013

Lots Of Unknowns On Fracking's Future In North Carolina

Hardly a factor a decade ago, shale gas is projected to account for half of total natural gas production in the U.S. by 2040.
Credit U.S. Energy Information Administration

Horizontal drilling and hydraulic fracturing—or fracking—for natural gas in shale rock has radically changed the nation’s energy mix. Since the fracking boom began in 2008, the cost of natural gas has plummeted and supply has surged. The technique is banned in North Carolina, but a bill that passed last year and another currently making its way through the legislature would open the door.

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