Regional Report Charlotte March 2013

REGIONALREPORT Charlotte

Political contribution

Spurred by accusations that the Charlotte Regional Visitors Authority pads its stats, Charlotte and local booster groups commissioned an outside agency to calculate the impact of the Democratic National Convention. The result? About 35,000 attendees helped generate almost $164 million, making it the most-lucrative event in the metro’s history.

Briefs

CLEVELAND — Freightliner Trucks will lay off a total of 1,200 workers at its three plants in the region. The truck-maker will trim 715 — about a third of the workforce — from its Cleveland factory and an additional 405 in Mount Holly and 80 in Gastonia, leaving both with about 1,200. The Fort Mill, S.C.-based division of Portland, Ore.-based Daimler Trucks North America said some workers might eventually be rehired.

SHELBY — KSM Castings will open a manufacturing plant here, investing $45 million and creating 189 jobs within six years. The German company makes automobile parts. Average annual salary will be $42,810, higher than Cleveland County’s average of $32,760.

CHARLOTTE —Tempe, Ariz.-based US Airways plans to merge with Fort Worth, Texas-based American Airlines to create the nation’s largest airline. Charlotte Douglas International Airport is US Airways’ largest hub.

SHELBY — Bank of the Ozarks will acquire First National Bank of Shelby for $67.8 million. The Little Rock, Ark.-based bank holding company is expected to take control of 14 offices and $857 million in assets by the second or third quarter. The combined bank will have nearly $5 billion in assets.

CHARLOTTE — David Singer will retire as CEO of Snyder’s Lance in May after leading the company since 2005. Carl Lee, the snack-maker’s president and chief operating officer since 2010, will succeed him.

MATTHEWS — Harris Teeter Supermarkets retained New York-based J.P. Morgan Securities to help it weigh acquisition offers from two unnamed private-equity firms. The grocer said there was no deal as of mid-February.