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City saw need grow, and rose up to meet it

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bank of america, wachovia

Published Dec. 25, 2009 at 3:05 a.m.

Double-digit unemployment, 10,000 foreclosures in the first 10 months, the worst recession in a generation, and the loss of a coveted bank ... But how did Charlotte-area residents react? ... The Foundation for the Carolinas received $12million more in financial commitments than last year. The Urban Ministry Center's Moore Place project has raised nearly all its $10 million cost in a matter of months. And the financially beleaguered Charlotte Symphony reached its $1.77 million year-end goal due

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Top 3 stories: Johnson, Martin, Mayfield

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nascar

Published Dec. 25, 2009 at 2:08 a.m.

That's Racin' concludes its three-week look back at the top 10 stories of the NASCAR season ... No. 3 NASCAR VS. JEREMY MAYFIELD ... Little could anyone imagine all that would transpire when NASCAR officials stepped to a microphone at Darlington (S.C.) Raceway on May9 and announced that then-Sprint Cup driver Jeremy Mayfield had been indefinitely suspended for violation of the sport's substance-abuse policy ... NASCAR's new random testing policy already had nabbed several crew members, but

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Jake's done for season, not done with team

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carolina panthers, panthers

Published Dec. 25, 2009 at 1:58 a.m.

Though speculation about Jake Delhomme's future with the Carolina Panthers ratcheted up after he was placed on injured reserve Thursday, the team's position on him remains the same, according to general manager Marty Hurney ... "This move doesn't change anything about his future," said Hurney. "We feel the same about Jake as we did yesterday before we put him on I.R. We've made it clear we have confidence in Jake." ... Delhomme became the 11th Panthers player on injured reserve, one day after

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49ers sell just 15 more football seat licenses

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charlotte 49ers

Published Dec. 25, 2009 at 1:56 a.m.

The Charlotte 49ers have seen only a slight increase in the sale of football seat licenses since the school's board of trustees decided Dec. 11 to proceed with plans to begin fielding a team in time for the 2013 season ... As of Wednesday, 3,218 FSLs have been sold - 15 more since the number was last reported on Dec. 7 ... With the cost of FSLs ranging from $1,000 to $2,500 each, that equals about $3,978,000 in start-up funds. Charlotte's official FSL marketing campaign ended in September ...

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Customers see Wells changes

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wachovia

Published Dec. 24, 2009 at 9:56 p.m.

(By Rick Rothacker, rrothacker@charlotteobserver.com) Wells Fargo & Co. isn't changing Wachovia Corp. signs in North Carolina until 2011, but a few changes are starting to pop up for customers as the merger progresses ... As part of the installation of new ATMs, Wachovia customers may be noticing that their online statements describe some area machines as Wells Fargo ATMs, even though the signs still say Wachovia. The bank has also begun telling customers that the banks' charters will be

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Wells Fargo pays back $25 billion in TARP loans

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wachovia

Published Dec. 24, 2009 at 8:54 a.m.

(By Rick Rothacker, rrothacker@charlotteobserver.com) Wells Fargo & Co. said Wednesday that it has officially repaid $25 billion in government aid that it received last year at the height of the financial crisis ... The San Francisco-based bank, which last year bought Charlotte's Wachovia Corp., last week raised $12.25 billion in a common stock offering as part of its plan to pay back the Troubled Asset Relief Program ...

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Wachovia loses battle over S.C. brokers

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wachovia

Published Dec. 23, 2009 at 2:02 p.m.

Regulators have dismissed the latest claims of raiding and unfair competition made by Wachovia Securities against St. Louis-based brokerage, Stifel Nicolaus & Co. Inc., and ordered Wachovia to pick up the case’s tab. (WFC) ...

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MGIC sued by Bank of America

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bank of america

Published Dec. 23, 2009 at 11:09 a.m.

One of the largest mortgage financiers of the housing bubble has sued MGIC Investment Corp. over the mortgage insurer’s denials of claims for payments on mortgages gone bad. (MTG) (BAC) ...

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Bank of America names CEO, decides to stay in Q.C.

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bank of america

Published Dec. 17, 2009 at 11:18 a.m.
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O.K., The Ken, you can go now ...

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Bank of America names Moynihan CEO, commits to Charlotte

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bank of america, bank of america's

Published Dec. 17, 2009 at 7:51 a.m.

(By Rick Rothacker and Christina Rexrode, rrothacker@charlotteobserver.com crexrode@charlotteobserver.com) Bank of America's board late Wednesday unanimously named Brian Moynihan the Charlotte bank's next chief executive, depending on him to lead the bank out of a recession and into a new age of regulation of the industry ... The bank's headquarters will remain here, Moynihan said in an interview, adding that his office will be in Charlotte. Moynihan's Boston ties had raised concerns about his

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