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The Good News Report

atlrvr

By atlrvr
in Charlotte

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cltbwimob Burg

cltbwimob

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A Chinese company specializing in coal power is moving their Charlotte office to a building they bought in South Park and relocating their US headquarters to that building as well from West Virginia, which will relocate 30 people, plus they plan to hire 30 more.

 

Potentially bigger news is that Ally promoted their top Charlotte-base exec (Jeff Brown) to be head of their largest business unit (Dealer finance and insurance), with the old exec based in Detroit.  This, along with I believe the head of banking already based in Charlotte, and the CFO being based in Charlotte is really concentrating the center of power here.  The CEO is actually based in NY, but I suspect he retires within the next 2 years, and all indication point to Jeff Brown being named the next CEO.  If that occurs, I would say it's highly likely that official HQ relocates to Charlotte.  They are also quitely growing here (Observer reports 750 jobs in Charlotte now and I know they leased another floor in the Ally Center last year).  I predict they at somepoint become the anchor tenant for the Portman Tower as their is only 1 floor left to grow in their current building.

 

Also, Jeld-Wen apparantly just got a new CEO, and has stopped sponsoring the Portland Timbers MLS soccer stadium.  It wouldn't surprise me if they relocated their global HQ here as well in the next few years. 

Atlrvr called it on Jeff Brown becoming CEO of Ally

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ertley
ertley

As a native (but no longer resident) of Charlotte, I've always harbored an antipathy to Atlanta--please, no arguments! It's just how I've felt since childhood, like a sports rivalry!  But I genuinely

urbanlover568
urbanlover568

North Carolina is first in South to ban state funding for conversion therapy Gov. Roy Cooper signed an executive order calling the contentious practice "clinically and ethically inappropriate."

J-Rob
J-Rob

Awesome.  Def half the 78 viewers are also checking UP right now.  At one point Lowe's was rumored to also be moving HQ from Mooresville to CLT proper.  Is that still in play with the new location, or

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rugger62 Whistle-Stop

rugger62

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Quartz article about the decline of car culture

 

They are going to need to 'diversify their bonds' if this trend holds. Having your primary division in a declining industry is usually a challenge. 

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kickazzz2000 Hamlet

kickazzz2000

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Quartz article about the decline of car culture

 

They are going to need to 'diversify their bonds' if this trend holds. Having your primary division in a declining industry is usually a challenge. 

 

One thing to consider is that the drop in numbers may not 100% be attributed to cultural factors, rather simple economics,  Young people (22 year old college grads) aren't going out and buying new Corollas and Scions and Dodge Darts because of underemployment issues since 2008.  Used car sales are doing fine.  

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kermit Megalopolis

kermit

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Last Tuesday, there was a closed door discussion with Meck Co commissioners for incentives related to relocation and/or expansion.  Tonight it's on the Charlotte city council agenda.  Hopefully there is something imminently in the works.

 

http://www.charlotteobserver.com/2015/02/04/5493793/sources-city-council-back-incentives.html#.VNLx7mPcdnc (35 jobs at Frito Lay in SW Charlotte)

 

Ugh. When I am in charge there will be no incentives for any jobs that pay below the median.

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cltbwimob Burg

cltbwimob

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http://www.charlotteobserver.com/2015/02/04/5493793/sources-city-council-back-incentives.html#.VNLx7mPcdnc (35 jobs at Frito Lay in SW Charlotte)

 

Ugh. When I am in charge there will be no incentives for any jobs that pay below the median.

If only our leaders were inclined to see things the way you do.  I will say that if it were some sort of mega or game-changing manufacturer/industry, in which, the ripple effects would be far reaching, I think I would bend that rule.  However, in general, it is foolhardy to blow increasingly scarce resources on companies whose payrolls serve to lower the median wage of the area.

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kermit Megalopolis

kermit

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Atlrvr called it on Jeff Brown becoming CEO of Ally

 

The new guy announced big plans for expanding the Ally consumer bank -- since Ally has all of its retail banking in Charlotte it really is good news.

 

http://www.wsj.com/articles/new-ally-financial-ceo-lays-out-plans-for-lender-1423150697?mod=WSJ_hp_LEFTWhatsNewsCollection

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SouthEndCLT811 Burg

SouthEndCLT811

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Not sure that's good news.  Nikki Haley stealing another company currently in Charlotte.

 

http://www.bizjournals.com/charlotte/blog/morning-edition/2015/03/charlotte-area-furniture-company-hops-s-c-state.html

 

"Broad River Furniture of Pineville announced on Tuesday that it will build a new corporate campus and distribution center just across the South Carolina state line in Fort Mill."

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ssh214 Whistle-Stop

ssh214

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Not sure that's good news.  Nikki Haley stealing another company currently in Charlotte.

 

http://www.bizjournals.com/charlotte/blog/morning-edition/2015/03/charlotte-area-furniture-company-hops-s-c-state.html

 

"Broad River Furniture of Pineville announced on Tuesday that it will build a new corporate campus and distribution center just across the South Carolina state line in Fort Mill."

Well this is annoying...  :yawn:

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Guest

Guest

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I know what it means... Toys R Us Headquarters relocation!  :yahoo: jk...

I was just in their HQ last month. They have a full size Toys R Us and Babies are us just for merchandising the stores. Its a site to behold, its like having a toys r us all to yourselves. Just wait till you see their Star Wars wall thats setting for the movie, CRAZY.

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ssh214 Whistle-Stop

ssh214

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I was just in their HQ last month. They have a full size Toys R Us and Babies are us just for merchandising the stores. Its a site to behold, its like having a toys r us all to yourselves. Just wait till you see their Star Wars wall thats setting for the movie, CRAZY.

Wow that sounds awesome! I definitely need to go see it, the coolest headquarters I've seen is the Jelly Belly headquarters in Fairfield, CA, jelly beans all over the place! Imagine Toys R Us and Jelly Belly moving here! (I've lost it this morning... sorry haha) 

 

Truliant opening 10 Charlotte Area branches, giving away $100k and will hire 120 over 2 years, invest $11 mil.

That's nice... Better than 120 jobs being lost...

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