Business

Business news and information from Charlotte and the Carolinas. 

Charlotte business incubator Packard Place is launching a new program for financial tech startups. Its goal is to find innovative technologies for all aspects of the financial services industry, from consumer banking to corporate finance. WFAE’s Duncan McFadyen reports Bank of America has signed on as the program’s top sponsor.


Family Dollar Profits Drop As Core Customer Struggles

Jan 21, 2014
WFAE

Matthews-based discount chain Family Dollar started to report record profits about 5 years ago when the country was in a recession.

And now as the economy is recovering, the company seems to be having a bit of trouble holding on to customers it gained during the leaner times. 

But Family Dollar's recent decrease in profits is a little more complicated than that.

In a conference call this month, Family Dollar CEO Howard Levine told investors an economic recovery is underway:

Tasnim Shamma

Appliance Maker Electrolux announced it will add more than 800 jobs with the expansion of their U.S. corporate headquarters in Charlotte. Electrolux says it will also invest more than $85 million toward construction costs for the expansion.


Cabela's

If you like to hunt, fish, hike, or camp, you’re probably familiar with Cabela’s. But right now, the closest Cabela’s store is in West Virginia. The company announced Wednesday that that's about to change.

Cabela's is buying 20 acres in Fort Mill, just off of I-77 near Carowinds, where it plans to build a new store.

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AUDIE CORNISH, HOST:

Negotiations between Boeing and the machinists union in Washington State broke down again last night. The union rejected Boeing's latest contract offer. The deal would've guaranteed that production of the new 777X airplanes would stay in the Seattle area. Now, the aerospace giant may be taking those planes and thousands of jobs elsewhere.

Other states are eagerly courting them. But Michael Tomsic of member station WFAE in Charlotte reports that landing the aerospace company won't come cheap.

Lincoln County, N.C.

Lincoln County’s economy is improving. Unemployment is down and incomes are up. But, that prosperity also means less state money can go toward luring new jobs. WFAE’s Duncan McFadyen explains.


Michael Tomsic

The economy in Charlotte and North Carolina as a whole next year will be like a NASCAR race under a caution flag – it’ll move forward, but not too fast. That was the message from executives at the Charlotte Chamber’s annual economic outlook conference Monday.


The City of Charlotte has put out a call for proposals to redevelop Bojangles’ Coliseum into an amateur sports center.  The city has agreed to pay $25 million to upgrade the coliseum and buy land beside the property for parking. 

The city is looking for a private developer to build a 150-room hotel and a sports facility that includes at least eight basketball courts that can be adapted to other uses. 

Duncan McFadyen / WFAE

Travelers flying out of Charlotte Douglas airport this week may notice something different when they go through security. The airport has contracted with a company to make Checkpoint E more comfortable.


BofA Plods Toward More Basics, Less Risk

Oct 16, 2013

Bank of America continues its steady plod toward a more boring future focused on banking basics, rather than the risky behaviors that drove profits during the high-flying years.

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