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Family Dollar Markets Message, Image In New Directions
Amid all the grim economic news the last few years, business has been quite good for dollar store retailers. The tanking economy prompted many people to give them a try.
The trend has helped Matthews-based Family Dollar's stock rise 40 percent in the last 3 years.
Now, Family Dollar is trying to position itself for when the economy recovers. It has a new marketing strategy, and the company has hired a full-time ad agency for the first time in its 50-year history.
WFAE's Greg Collard reports.
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Bank of America settles with FTC for $108 million
Bank of America has agreed to pay $108 million to settle federal charges that the bank's subsidiary Countrywide collected excessive fees from homeowners who fell behind on their mortgages. WFAE's Lisa Miller has more:
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UNC Charlotte Economist: Charlotte economy is recovering
The Charlotte region has lagged behind the state and the nation in recovering from the recession. But UNC Charlotte economist John Connaughton says new indicators suggest the local economy will catch up - and surpass the rest of the state within a year. WFAE's Julie Rose reports:
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What bang does Wells Fargo get for $7 million bucks?
The first round Charlotte's Quail Hollow Championship started today. Just two years ago it was called the Wachovia Championship. Wells Fargo gained sponsorship rights to the PGA tournament with its acquisition of Wachovia, but it's hard to tell.
After all, Wells Fargo has yet to put its name on the tournament even though it pays a sponsorship tab of about $7 million a year. Wells Fargo was one of many banks that backed away from sports marketing last year in the wake of backlash over government bailouts.
But UNC-Charlotte sports marketing professor Robert Roundtree says the bank still gets some benefits from its sponsorship.
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BofA dividends will have to wait
Bank of America shareholders on Wednesday approved Chad Holliday Jr. as its new chairman.
Holiday is a former CEO of DuPont. He joined the bank's board just seven months ago. He replaces Walter Massey, who had to step down because he reached the board's mandatory retirement age of 72.
Although the bank reported a first-quarter profit of $2.8 billion, CEO Brian Moynihan says it'll be a while before shareholders can expect dividends again. WFAE's Greg Collard reports.
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(Most) BofA shareholders in better mood at annual meeting
Bank of America shareholders gathered uptown Wednesday for their annual meeting. The same gathering last year brought out hordes of national media and scrutiny from investors who successfully ousted CEO Ken Lewis from the chairmanship of the bank's board. Before long Lewis was out entirely and a new CEO - Brian Moynihan - took the reins. In this segment, WFAE's Julie Rose discusses the meeting with All Things Considered host Mark Rumsey.
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Bank of Granite Shareholders Glum
Gloomy shareholders gathered for Bank of Granite's annual meeting yesterday in Hickory. The bank is one of North Carolina's oldest and was once known for its generous yearly stock dividends.
But the dividend has dried up and Bank of Granite recently reported an annual loss of more than $25 million. WFAE's Julie Rose reports.
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BofA CEO: 'The worst is over.'
The worst of the credit crisis is over, according to the nation's biggest lender. Bank of America reported a first quarter profit of $2.83 billion today, after preferred dividend payments. And CEO Brian Moynihan touted the economic recovery in a speech to regulators. WFAE's Julie Rose reports:
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