Sonic Automotive said it has amended and extended its credit facilities that were scheduled to mature in August 2012. The amended credit facilities, which will now mature in August 2016, provide for up to: • $500 million for new vehicle inventory floor plan financing, ...Read More »
Trade and Transportation
Bank of America Corp., Time Warner Cable and US Airways have something in common: They’re all on The Atlantic’s “19 Most Hated Companies” list, which the publication released this month. Bank of America, the only one of the three headquartered ...Read More »
Duke Energy Carolinas today said it has requested approval from the North Carolina Utilities Commission to increase electric rates. When factoring in the company’s residential and commercial customers, it would mean an increase of about 15 percent. The Charlotte-based company said ...
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There aren’t many lulls in the truck traffic coming in and out of the Norfolk Southern Corp. intermodal rail yard on North Brevard Street in Charlotte. Trucking companies like Lowell, Ark.-based J.B. Hunt steadily bring in trailers of products for ...Read More »
Daimler Trucks North America today said it plans to add nearly 700 jobs at its manufacturing plants in Mount Holly and Gastonia. The Portland, Ore.-based company said it is adding 535 manufacturing and 37 administrative positions by September to its Mount Holly truck-manufacturing ...Read More »
Taxicab company King Cab has been denied an injunction to prevent the city of Charlotte from awarding Charlotte/Douglas International Airport contracts to three cab companies. A selection committee had chosen King Cab as one of three companies to hold exclusive ...Read More »
Light-rail ridership levels tripled May 28 during Food Lion Speed Street compared with an average Saturday, and some of those passengers did not pay after they were let on trains when rail platforms became overwhelmed. Normally, there are approximately 10,000 ...Read More »
US Airways Group today said it had a 5.7 percent increase in passengers last month. The Tempe, Ariz.-based company, whose largest hub is Charlotte/Douglas International Airport, had 4.7 million passenger boardings in May, up from 4.5 million the same month ...Read More »
Horizon Lines said it has reached an agreement with the majority of holders of its senior notes regarding refinancing the company’s debt. The agreement centers on a complete refinancing and a new asset-based revolving loan of up to $125 million, for ...Read More »
Embattled shipping company Horizon Lines faces losing its listing on the New York Stock Exchange. Charlotte-based Horizon Lines said it has fallen below the NYSE’s listing standards because its market capitalization averaged less than $50 million during a 30 trading-day ...
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