The Charlotte-based RoundPoint Financial Group announced today it has purchased a 40 percent stake in a $603 million mortgage loan portfolio from the Federal Deposit Insurance Corp., an independent agency created by Congress which guarantees the safety of deposits in member banks. Roundpoint bought the stake in conjunction with RBS Financial Products Inc. of Connecticut. [...]
Piedmont Natural Gas reported a record net income of $142 million for its fiscal year ending Oct. 31, a 15 percent increase over 2009′s net income of $123 million. The company attributes the increase to the sale of half of Piedmont’s 30 percent ownership interest in SouthStar Energy Services to AGL Resources at the beginning [...]
Charlotte’s hospitality and tourism sector got a boost Monday when AAA Carolinas honored five Center City accommodations and restaurants for superior quality and service. The Omni Charlotte Hotel hosted the event. The Hilton Charlotte City Center, Westin Charlotte and Omni Charlotte Hotel were all recognized for being Four Diamond accommodations. Center City Charlotte Four Diamond [...]
By Tara Ramsey The upcoming new year might usher in an acceleration of a movement in Charlotte toward electric vehicles. First, beginning late this year, the Chevy Volt and Nissan Leaf go on sale. The city of Charlotte and Duke Energy Corp. are planning to purchase several of the vehicles for their fleets. Also next [...]
By Caitlin Coakley Small contractors have had more opportunities in North Carolina than they have nationally, at least when it comes to reaping the benefits of the federal stimulus bill, according to data provided by the Washington, D.C.-based National Association of Small Business Contractors. Of the $64.9 billion in American Recovery and Reinvestment Act of [...]
By Sam Boykin “Doing more with less” has become the grim mantra for many Charlotte industries as the city continues to struggle through the recession. But it’s particularly applicable to the city’s nonprofit sector. With a record-high jobless rate, a growing number of families are in need of basic assistance provided by nonprofits, while donations [...]
By Tara Ramsey Sometimes it takes a goat to do a man’s job. At least that’s what agricultural entrepreneur Ron Searcy is hoping. Searcy and his wife, Cheryl, care for 300 goats at Wells Farms in Horse Shoe, N.C., about 15 miles from Asheville. After clearing out overgrowth and brush on 25 acres of his [...]
By Greg Lacour Charlotte city officials are considering resurrecting a program designed to steer a percentage of city contracts to minority and women-owned firms. Such programs are common in local and state government; North Carolina and Mecklenburg County already have them. But Charlotte dropped its gender and race-based program in 2002 after a lawsuit challenged [...]
By Sam Boykin When musician Jack Johnson rolls into town Sunday for his concert at the Verizon Wireless Amphitheater, he’ll be urging his fans to support family farmers and to eat locally grown food. While a lofty goal that would benefit the Charlotte metro area’s economy and health, it’s also easier said than done. Today, [...]
By Tara Ramsey At least one economist sees the commercial construction industry in the Carolinas as recovering. But many industry experts have a different view for the industry they see as just now hitting bottom. Anirban Basu, chief economist for Arlington, Va.-based Associated Builders and Contractors, analyzed the economy last week for the Carolinas Construction [...]
