Business

Local News
7:47 pm
Wed May 7, 2014

Love, Anger And A $4 Billion Error: Bank Of America's Annual Meeting

Bank of America's annual shareholder meeting in uptown Charlotte Wednesday alternated from a love fest to a shouting match. And one issue hovered over the meeting – the announcement last week that Bank of America made a $4 billion mistake.

The meeting got off to an awkward start.

Bank of America board Chairman Chad Holliday was introducing the board members up for reelection when he was cut off by shareholder Richard Davet, who stood up far from the microphone and objected to holding a vote just a week after finding out about the bank's financial error. 

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Local News
3:31 pm
Wed May 7, 2014

Duke Stock Up After 1st Quarter Earnings Loss

Duke Energy reported a nearly $100 million loss in the first quarter of this year—and its stock went up.

The loss comes from Duke selling its Midwest business—13 coal and natural gas plants—where it has less control over the price of electricity. The company estimates a $1.4 billion hit to its books. Other than the one-time loss, the company reported strong growth, partially due to a rebounding economy.

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Local News
3:28 pm
Fri May 2, 2014

McCrory Sheds Duke Stock

Governor Pat McCrory has sold his stock in Duke Energy, the company where he worked for nearly three decades. The sale came during a year when McCrory’s connections to Duke have been scrutinized.

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Local News
6:47 pm
Thu May 1, 2014

It's Déjà Vu At Duke Shareholder Meeting

Protesters chanted outside the Duke Energy corporate headquarters in Uptown.
Credit Ben Bradford / WFAE

Duke Energy held its annual shareholder meeting Thursday. The meeting has developed into something of a tradition: environmental groups use it as a rare opportunity to face, question, and berate the CEO of one of America’s largest power companies. This year, with a new CEO at the helm and Duke under fire for its handling of coal ash, tensions ran higher than usual.


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Local News
5:38 pm
Wed April 30, 2014

Goodbye, Bobcats. Now, Bring On The Hornets

Coach Steve Clifford at the Bobcats' postseason press conference on Wednesday.
Credit bobcats.com

The Charlotte Bobcats were swept out of the playoffs this week, but Coach Steve Clifford says the team achieved something this season it hasn’t had for a long time: relevancy.


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Local News
6:00 am
Tue April 29, 2014

Duke Energy Ranks Top 10 In Solar Generation, Twice

Duke Energy Renewables, a commercial subsidiary of the company (and not included in the rankings) owns a 20-megawatt solar farm in Dogwood, N.C.
Credit Duke Energy

Duke Energy’s Carolina utilities are top 10 in the nation for generating solar power, according to a new report released Monday.

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Local News
2:50 am
Mon April 28, 2014

Bank Of America Suspends Dividend Increase After Misreporting To Fed

Credit Julie Rose / WFAE

Bank of America has suspended its planned dividend increase, after the Federal Reserve found problems in data the bank reported during its most recent stress test.


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Local News
12:10 pm
Fri April 25, 2014

American Airlines Reports Record Profit After Merger

Credit Roger Sarow / WFAE

In its first quarter after merging, the combined American Airlines and US Airways reported record profits, despite brutal winter weather.


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Business
5:13 pm
Thu April 24, 2014

Postal Workers Fear Expansion Of Staples Pilot Program

Carol Bishop, a mail clerk at a post office in West Charlotte, says she's afraid she may lose her job if Staples expands their full-service counter to all of its stores nationwide.
Credit Tasnim Shamma

About two dozen Postal Service employees protested uptown today because they fear more of their work will be outsourced to Staples.

The protest was in response to a comment made by the Postmaster General, in which he said he was so pleased with a pilot program with Staples that he would like to see a post office counter in all 1,500 Staples stores.


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Local News
4:32 pm
Mon April 14, 2014

Lawmakers Consider Repeal Of Local Business Tax

Credit NC General Assembly

A plan moving through the state legislature could cost City of Charlotte coffers $8.5 million in local business taxes.


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