Regional Report Charlotte July11

 In 2011-07

Share this story:


CHARLOTTE — Arlington, Va.-based Mitsubishi Nuclear Energy Systems, which designs and builds nuclear-power plants and replacement components, plans to locate its main U.S. engineering center here. The subsidiary of Japan-based Mitsubishi Heavy Industries will employ about 135 during the next five years at salaries averaging $102,454.

BADINElectronic Recyclers International plans to open a recycling center this month at the former Alcoa aluminum-smelting plant. The Fresno, Calif.-based company will initially employ 20-30 in a temporary center but plans to expand to more than 200 employees.

LINCOLNTONAptarGroup plans to open a factory here that will employ 150 during the next five years and begin production by early 2012. The Crystal Lake, Ill.-based company makes pumps, aerosol valves and other plastic dispensing products. The average salary will be about $36,000, compared with the Lincoln County average of $30,700.

CHARLOTTEDuke Energy agreed to pay $30 million to settle a class-action lawsuit over changes to its retirement plan. The plaintiffs contended that Duke violated age-discrimination laws when it converted the plan from one based on years of service to one that also had characteristics of a 401(k) plan, including employee contributions. The suit, representing 20,000 retirees and employees, was filed in 2006.

CHARLOTTEBank of America agreed to pay $20 million to resolve allegations that it improperly foreclosed on active-duty military personnel. The Justice Department says California-based Countrywide Financial, acquired by BofA in 2008, foreclosed on about 160 service members between January 2006 and May 2009 without obtaining court orders required by the Servicemen Civil Relief Act.   

MATTHEWS — Pershing Square Capital Management, the New York hedge fund led by activist investor Bill Ackman, has acquired slightly less than 5% of the shares of Family Dollar Stores. Ackman said during an investment conference here that he believes Family Dollar could be acquired by larger Dollar General, a Goodlettsville, Tenn.-based competitor, or a private-equity company. Earlier this year, the discount retailer rejected a $7 billion hostile takeover bid by Trian Fund Management.

CHARLOTTEBelk has completed a $55 million share-repurchase program. The retailer is privately held, with most shares owned by the Belk family. The company says it doesn’t plan for a public sale of stock.

DAVIDSONDavidson College named Carol Quillen, 51, its first woman president. She takes office next month and will replace Tom Ross, who left in December to become president of the UNC system. Davidson didn’t admit women students until 1973. Quillen was vice president for international and interdisciplinary initiatives at Rice University in Houston.

Recent Posts
Contact Us

Questions or feedback? Drop us a message!

Start typing and press Enter to search