Business news and information from Charlotte and the Carolinas. 



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Bank of America's Lewis loses chairman's role

Apr 29, 2009

Bank of America held it's highly-anticipated annual meeting today and has just released the results of its shareholder vote. CEO Ken Lewis and all of the board's directors have been re-elected. However, shareholders narrowly voted to split the roles of CEO and Chairman of the board. WFAE's Julie Rose was at the meeting and joins us to explain. 

BofA Shareholder Votes Still Pending

Apr 29, 2009

Thousands of shareholders packed the Belk Theater uptown this morning for Bank of America's annual meeting. It lasted nearly four hours, but left nothing resolved, including the future of the bank's CEO Ken Lewis. 

Great Wolf Resort packs 'em in despite recession

Apr 13, 2009
Julie Rose / WFAE

Over the holiday weekend, rooms were sold out at a new indoor water park and hotel in Concord. Great Wolf Resorts has high hopes for its newest property, despite the recession.

Federal Reserve Chairman Ben Bernanke spoke to bankers and investors in Charlotte today. The audience had high hopes of hearing new insight into the future of the troubled financial industry. On that point, they were disappointed. 

Banks defend sports marketing

Mar 25, 2009

Last year, money spent on sports marketing was estimated at $10 billion. That includes things like stadium rights and NASCAR sponsorships. Nearly 10 percent of that money came from banks and other financial services companies. But in light of bailouts and billion dollar losses, these companies are under intense scrutiny. And as a result, banks say they're walking away from money-making deals, just to avoid the controversy. No company is more prominent in the world of sports than Bank of America. Its home city of Charlotte is a perfect example. It spent $44 million on sporting event last year, including NASCAR's Bank of America 500. 

New reality in realty

Mar 17, 2009

In 2006, Charlotte's real estate market was hot. More homes were selling than ever before. For realtors, life was good. But in the past year and a half, that's changed. A once hot market has cooled significantly, and all of a sudden, what it means to be a realtor in Charlotte has changed too. 

Bank of CEO Ken Lewis from a lot of people these days. Add to the list Sydney Finkelstein. He specializes in businsess leadership at Dartmouth College's Tuck School of Business. Sydney Finkelstein specializes in business leadership. He wrote an article last week for Forbes magazine called Why Ken Lewis Destroyed Bank of America . Finkelstein says Lewis had a strong record until the purchase of the investment firm Merrill Lynch. In this segment, he tells WFAE's Scott Graf why that purchase changed everything.

NC Small Businesses Feel Gas Tax Crunch

Jan 18, 2006

(1/13/06) North Carolina's increased gas tax has been in place for nearly two weeks and the state's small businesses aren't happy about it. From WFAE's Carolinas Business Bureau, Siomone Orendain spoke with Gregg Thompson who is a statehouse lobbyist with the National Federation of Independent Business.

Hickory Regional Airport Update

Jan 13, 2006

(1/13/06) On January 22nd, Delta Airlines is scheduled to make its final flight out of the Hickory Regional Airport. The airline set-up shop in the Uni-Four last spring to much fanfare from city leaders. But the ventrue soon fizzled and now those same city leaders are looking for a carrier to replace Delta. To find out how that search is going, WFAE's Scott Graf spoke with Hickory Mayor Rudy Wright.

(1/10/06) More than 400 U.S. companies operate subsidiaries in Denmark. During a recent visit to Charlotte, U.S. Ambassador to Denmark James Cain spoke with WFAE's Mark Rumsey about efforts to further strengthen Danish-American business and economic ties.