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Tag: charlotte

  • Bank of America is closing this branch on The Plaza near NoDa. Will it be replaced?

    Bank of America is closing this branch on The Plaza near NoDa. Will it be replaced?

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    Bank of America is closing another branch on a busy street in Charlotte.

    Bank of America is closing another branch on a busy street in Charlotte.


    Daniel Tepper

    Bloomberg

    Bank of America is shuttering a branch near the Plaza Midwood and NoDa neighborhoods, the latest in a series of local closures as the bank trims its brick-and-mortar presence in Charlotte.

    The bank filed paperwork with regulators last week to permanently close the branch at 3401 The Plaza. It’ll shutter next August, according to Bank of America’s website.

    For some time, Bank of America has been adjusting its branch network in its headquarter city. This summer, the bank permanently shut a centrally located Dilworth branch that had temporarily closed during the pandemic, one of several such closures in 2022.

    The Plaza branch will be replaced by a new location in NoDa late next year, the bank told The Charlotte Observer on Wednesday, located at the intersection of 36th and Tryon streets.

    “Well before the pandemic, we were implementing plans to optimize our Financial Center and ATM network,” a bank spokesman told the Observer. “Our financial center network continues to be core to our business.”

    Bank of America is Charlotte’s largest local bank by deposits, accounting for 62% of the metro area’s market. It still has about 45 branches and ATMs in the city, according to its online branch locator.

    Other banks expand in Charlotte

    As Bank of America shrinks part of its branch network, other banks are edging their way into Charlotte’s retail market.

    New Jersey-based TD Bank, the U.S. subsidiary of Canadian Toronto Dominion Bank, announced last month that it plans to add 15 branches in Charlotte by 2025.

    U.S. Bank and Fifth Third Bank also have added a number of branches in Charlotte in recent years.

    And New York-based JP Morgan Chase is rapidly expanding in the area.

    The bank opened its first Charlotte branch — across the street from Bank of America’s uptown headquarters — in March 2020. It’s already up to 17 locations in the region, with three more slated to open next year.

    “We’re going to double down,” CEO Jamie Dimon told branch workers in a visit to Charlotte last week. “We’re not gonna stop.”

    This story was originally published October 5, 2022 12:25 PM.

    Related stories from Charlotte Observer

    Hannah Lang covers banking, finance and economic equity for The Charlotte Observer. Her work has appeared in The Wall Street Journal, the Triangle Business Journal and the Greensboro News & Record. She studied business journalism at the University of North Carolina at Chapel Hill and grew up in the same town as her alma mater.

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    October 5, 2022
  • Sanibel Island residents return to see if their homes survived devastating Hurricane Ian as Biden surveys damage | CNN

    Sanibel Island residents return to see if their homes survived devastating Hurricane Ian as Biden surveys damage | CNN

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    CNN
     — 

    Residents of Florida’s Sanibel Island are warned they could be shocked when they return by boat Wednesday to their hard-hit community to set eyes for the first time on the devastation wrought a week ago by Hurricane Ian whose damage zone President Joe Biden is also due to visit today.

    “It is going to be emotional when they see their properties up close and the amount of damage that this storm inflicted upon them,” City Manager Dana Souza told CNN of how residents and business owners may react on Sanibel Island, where Ian wiped out parts of the causeway, severing its connection to the mainland.

    The opening of Sanibel to residents comes the same day President Joe Biden is visiting Florida to see Ian’s destruction first-hand. The President, who received an aerial tour of the damage in Fort Myers, was also briefed by Gov. Ron DeSantis and other Florida officials on the response to the storm and recovery efforts.

    “Today we have one job and only one job,” Biden said at a news conference Wednesday afternoon. “That’s to make sure the people of Florida get everything that they need to fully, thoroughly recover.”

    FOLLOW LIVE UPDATES

    At least 110 people have been reported killed as a result of the storm – 105 of them in Florida and five in North Carolina. And it’s not clear how many people are still missing as officials work to compile a list of those who remain unaccounted for, Florida Division of Emergency Management Director Kevin Guthrie said Monday.

    More than 1,000 search and rescue personnel have combed through 79,000 structures across the Sunshine State, DeSantis told reporters Tuesday, with more than 2,300 rescues logged.

    Statewide, about 290,000 customers still have no power Wednesday, according to PowerOutage.us, many of them in hard-hit Lee and Charlotte counties. Many schools also remain shuttered, some hospitals are still struggling to provide care, and boil-water notices remain in place in some areas.

    DeSantis toured the damage on Sanibel Wednesday for the first time. “You can go over it in a helicopter and you see damage, but it does not do it justice until you are actually on the ground, and you see concrete utility poles sawed off right in half, massive power lines everywhere, massive amounts of debris,” he said.

    As Sanibel Island residents access their properties, the area is still “extremely unsafe,” Mayor Holly Smith said. And houses that look fine from the outside may prove to be too damaged to live in.

    Wednesday was the first time Julie Emig, 64, and Vicki Paskaly, 68, returned to their home on the island. The couple – who have been married since 2020, but together since 1992 – bought their “dream home” two years ago and initially evacuated thinking they would be gone for just three days.

    “Pulling up here we can already see the vegetation is in tatters. It’s really hitting home now,” Vicki told CNN as she and her partner pulled up to their home by boat.

    The couple’s garage was full of mud. Lines on the wall show water downstairs reached about 6 feet, and on their lower level, the refrigerator was now on the counter and the kitchen island was on its side.

    “It’s just gone, our beach is gone, the building’s trashed, the trees are gone, it was all so lush in there,” Paskaly said.

    “It’s surreal, it’s a dream and I know we’ll wake up to a nightmare,” Emig said.

    Dan and Tony Tabor were lucky. The couple returned to their Sanibel home prepared for the worst, with water, bleach and drywall cutters in tow to begin the rebuilding process.

    Instead, they found it practically untouched by the storm, with the screens on their porch still in place and plants left outside still upright. If they wanted to, they said, they could spend tonight in the home. “We are so happy,” Tony Tabor said, but “I feel so guilty, because our neighbors have seen so much damage to their houses.”

    Meanwhile, it could be some time before hundreds of residents of Naples, in Collier County, can get back in their homes, City Manager Jay Boodheshwar, told CNN.

    “There was a significant amount of homes, in fact, an entire neighborhood was submerged at least with 3 feet of water. Some areas got 6 to 7 feet of water,” Boodheshwar said. “I would guess it’s probably hundreds of households that are going to be experiencing a period of time when they’re not going to be able to be in their homes.”

    Collier County issued a mandatory curfew Wednesday beginning at midnight – Naples’ begins at 10 p.m. – and ending at 6 a.m. Thursday, according to a Facebook post from Collier County Emergency Management.

    “The purpose of the curfew is to protect the safety of the citizens of Collier County and their property as they begin the process of recovering from the effects of Hurricane Ian,” the post read, adding that the curfew does not apply to emergency responders, employees at health care facilities, any essential workers that provide important services or those seeking medical assistance.

    Those in violation of the curfew will be subject to a second-degree misdemeanor, the agency said.

    Many homes in the once-tranquil community on Sanibel Island “are not livable,” Sanibel Fire Chief William Briscoe has said.

    “There are places off their foundation, and it’s very dangerous out there,” he said previously. “There are alligators running around, and there are snakes all over the place.”

    Most of the electrical poles and transmission lines remain down, along with wastewater systems, Souza said. “Without those necessary infrastructure, it is difficult to sustain a community of 7,000 people year around,” Souza added.

    “It will be some time before we can resume normal life on Sanibel,” he said.

    Ian damaged the Sanibel Causeway that connects Fort Myers to the island community.

    The island’s year-round population is about 7,000 people, growing to 35,000 during the high season that typically would begin in about a month, Souza said.

    But it could take a month or longer just to restore power to some areas of Sanibel and Pine islands, Lee County Electric Cooperative spokesperson Karen Ryan told CNN.

    “It will be much easier to restore power once we can gain access to the island,” she said.

    DeSantis directed transportation authorities to prioritize the repair of the Sanibel Causeway.

    “Access to our barrier islands is a priority for our first responders and emergency services who have been working day and night to bring relief to all Floridians affected by Hurricane Ian,” he said in a statement.

    Pine Island residents should be able to access their community by car later Wednesday, Gov. DeSantis announced, when crews are expected to complete a temporary fix for a part of a damaged bridge washed away in the storm.

    At Salty Sam’s Marina in Fort Myers, owner Darrell Hanson and many of his employees – about 120 at this time of year and up to 200 at the height of tourist season – are working to salvage what they can, some of them dealing with the loss of their livelihoods and personal property.

    “In the parking lot, we must have had about 12 feet of water. Everything on the first floor was … destroyed,” said Hanson, who has so far been unable to access his own home on Sanibel Island. “All our gift stores and restaurants and everything, they’ve lost all their inventory. It’s hundreds of thousands of dollars that each business lost.”

    “But the employees have all come together,” he said, choking back tears. “They’re all out there working their butt off.”

    Employee Ty Landers, who works on a pirate cruise at the marina, rode out the storm at his family’s home in Fort Myers. Fortunately the home and his family are safe, he said.

    But some of his coworkers weren’t so lucky.

    “Many of our employees, even on the pirate ships, my crewmates, they lost their houses, they lost everything,” Landers told CNN. “Hopefully when the time’s right they’ll come back. But right now their lives fell apart, and they’re putting it back together.”

    Salty Sam's Marina, which employs about 120 people this time of year, was heavily damaged by Hurricane Ian.

    In Charlotte County, north of Fort Myers, public schools will be closed until further notice after several of its 22 schools were damaged by Ian.

    “The storm lasted here for over 12 hours, just hammering away. Nothing is safe right now,” Charlotte County public schools spokesperson Mike Riley said.

    Florida hospitals have also been struggling. Emergency departments sustained damage, staffing is impacted as hospital workers were displaced or lost their vehicles, and some facilities lost reliable access to water.

    “We were ready, we had our generators all ready. We had plenty of fuel. What we couldn’t anticipate and didn’t anticipate was the loss of water from our utility companies,” said Dr. Larry Antonucci, president and CEO of Lee Health.

    Members of the Miami-Dade Task Force 1 Search and Rescue team look Tuesday through debris for victims in Matlacha, Florida.

    Many areas remain under boil water notices since the storm made landfall, damaging critical infrastructure, as well as homes.

    Residents of Lee and Charlotte counties – the two counties with the highest death tolls from the hurricane – will be able to get temporary blue coverings with fiber-reinforced sheeting at no cost for their roofs to help reduce further damage, according to a Charlotte County news release.

    Jessica Hernstadt, a resident of Fort Myers Beach in Lee County, said the community “looked like an apocalyptic disaster” when she made her way there after Ian slammed the shore, with cars, pots, pans and clothing littering the area.

    Homes the storm tore from their foundations blocked the streets leading to her house, which she found ablaze when she arrived, she told CNN in an interview Wednesday.

    Later, combing through the ashes, Hernstadt found just one item unscathed: a candlestick holder her great-grandmother carried in her pockets as she emigrated from Poland to the US.

    “It was the simplest, most prized possession that I had, and it gave me a sense of hope, especially today being Yom Kippur,” she said Wednesday, the holiest day of the year in Judaism. “We will survive. Our town will survive, and there’s hope to rebuild.”

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    October 5, 2022
  • Jamie Dimon talks stagflation, competing as ‘little guy’ in Bank of America’s yard

    Jamie Dimon talks stagflation, competing as ‘little guy’ in Bank of America’s yard

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    JP Morgan CEO Jamie Dimon slaps hands with staff members as he enters the company’s office at 112 South Tryon Street in Charlotte, NC on Thursday, September 29, 2022.

    JP Morgan CEO Jamie Dimon slaps hands with staff members as he enters the company’s office at 112 South Tryon Street in Charlotte, NC on Thursday, September 29, 2022.


    JEFF SINER

    jsiner@charlotteobserver.com

    Toppling Bank of America’s crown in Charlotte? Jamie Dimon wouldn’t rule it out.

    The chief executive of JP Morgan Chase, the country’s biggest bank by assets, stopped in the city on Thursday, visiting with employees at a Chase branch in uptown Charlotte.

    The branch — coincidentally located across the street from competitor Bank of America’s corporate headquarters — opened in early 2020. It was Chase’s first location in the city.

    Now, the New York-based bank is up to 17 branches throughout the Charlotte region, with three more slated to open in 2023.

    “We’re going to double down,” Dimon told employees. “We’re not gonna stop.”

    JP Morgan Chase has about $3.4 trillion in assets— but here in Banktown, it punches well below its weight, controlling only 0.12% of the deposit market.

    In an interview with The Charlotte Observer, Dimon said he’s confident that’ll change.

    The Observer sat down briefly with Dimon. Here’s what he had to say about expanding in North Carolina, competing in Charlotte and the “storm clouds” looming over the U.S. economy.

    CLT_JS_JAMIE_DIMON_03
    JP Morgan CEO Jamie Dimon at 112 South Tryon Street in Charlotte, NC on Thursday, September 29, 2022. JEFF SINER jsiner@charlotteobserver.com

    This interview has been edited for brevity and clarity.

    30 branches across North Carolina since 2019— why so many?

    “If you laid out a map, and you said you want to open branches — one or two, that’s not enough. You’ve got to have a plan. The plan is to cover where you live, where you work, high population (areas)… It includes that we have small businesses, middle market companies, low income neighborhoods, higher income neighborhoods — that’s the plan. Then we roll it all out, and we bring in other stuff to support it.”

    What’s the ultimate goal?

    “To be the best bank in North Carolina. It’ll take a long time. Our shares are very small, but we’re patient. Here, we’re the little guy.”

    Can you out-do local bank competition?

    “You don’t know me very well, if you don’t think I aspire (to that). Of course, we can’t do it overnight. The next generation can finish that job.

    “But again, if you made a map of the United States, and you put a dot around all the major metropolitan areas, and then you made them green if it was growing rapidly and red if it wasn’t, this would be a green one… so it’s kind of a no brainer. “

    On the economy:

    “The stronger economy is meeting head on with inflation, rates, oil, QT (quantitative tightening), war, Russia, global uncertainty… and you’ve seen the results: volatile markets, things are down. People are getting nervous. Home prices stop going up, (though) that’s probably a good thing. So yeah, that’s exactly what’s happening.”

    Note: In Dimon’s annual letter to shareholders in April, he talked about looming challenges like increasing inflation, conflict in Ukraine and the lasting impact of pandemic-era government programs.

    Did he predict it accurately?

    “I don’t think I crystal-balled it. I think those things were actually there. That’s why I called them storm clouds…. they create a huge amount of uncertainty. They will have a guaranteed effect on the economy and more volatility. But I don’t know better than anyone else whether it’s gonna be a soft landing, medium landing, hard landing, or something even worse than that.”

    Note: A “soft” versus “hard landing” is often used to describe the possible outcomes of the U.S. Federal Reserve attempting to control inflation. In the first scenario, the country’s central bank raises interest rates just enough to slow price increases without tipping the economy into a recession. In a “hard landing,” it triggers a downturn.

    “I do know that the extent of this stuff taking place is abnormal,” Dimon continued. “You have to be prepared for the outcomes to be worse than you think… That’s just risk management. That’s not forecasting the future.”

    On the threat of stagflation and the worst outcomes for the U.S. economy:

    “Well, the worst thing is this war (in Ukraine) getting worse — the Western world not hanging together, and us not having the proper foreign policy, domestic policy and military policy to guarantee the free world remains free. That is the most important thing.

    “You’re gonna go through, in your lifetime, ups and downs in the economy, and at one point… it’s like the weather. You deal with it. You don’t know it’s gonna be, and you deal with it.

    “The reason I say stagflation is the worst outcome is because that is a recession or very slow growth with inflation. And what that means is that usually incomes don’t keep up with inflation, so people suffer far more.

    “It may or may not be in this case, we don’t really know. Unemployment’s at almost all time lows, and job openings are at all time highs. So it’s possible to have a pretty good slowdown — which could stop inflation, and people are still (able to get) jobs. That would be a very nice thing…. I’m hoping that we have just not too hard a landing here.”

    This story was originally published September 29, 2022 5:46 PM.

    Related stories from Charlotte Observer

    Hannah Lang covers banking, finance and economic equity for The Charlotte Observer. Her work has appeared in The Wall Street Journal, the Triangle Business Journal and the Greensboro News & Record. She studied business journalism at the University of North Carolina at Chapel Hill and grew up in the same town as her alma mater.

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    September 29, 2022
  • ‘Life-changing’ Hurricane Ian batters Florida, knocking out power and trapping residents as it continues its damaging crawl through the state | CNN

    ‘Life-changing’ Hurricane Ian batters Florida, knocking out power and trapping residents as it continues its damaging crawl through the state | CNN

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    CNN
     — 

    As Hurricane Ian continues to pummel Florida, trapping residents in their homes and leaving millions without power in what’s already being called a “life-changing event,” authorities are fielding rescue calls from across the state and 911 call centers are being inundated.

    Ian slammed into southwestern Florida near Cayo Costa Wednesday afternoon as one of the strongest storms to make landfall on the state’s west coast, sending rising ocean water onshore and lashing the state with catastrophic 150 mph winds as it moved deeper inland.

    The monster storm flooded roads and homes, uprooted trees, sent cars floating in the streets and left nearly 2.5 million homes and businesses without power as of early Thursday, according to PowerOutage.us.

    By early Thursday morning, authorities were reporting heavy rain and flooding in the Orlando metro area, where 8 to 12 inches of rain had already fallen and up to 4 more inches of rain was expected.

    The storm has since weakened to a Category 1 hurricane and is crawling across central Florida as it heads toward the east coast, dumping heavy rains on low-lying areas.

    Here are the latest developments:

    • Sustained winds of 75 mph: The center of the storm is about 55 miles south-southeast of Orlando, packing powerful winds while it makes its way across the state. Hurricane Ian is tied with 2004’s Hurricane Charley as the strongest storm to make landfall on the west coast of the Florida Peninsula, both with 150 mph winds at landfall.
    • Record-high storm surges: The storm surge from Hurricane Ian hit up to 12 feet in some places, while multiple areas, including Punta Gorda, Port Charlotte, Fort Myers and Naples, were facing record-high storm surge of 12 to 16 feet. By Wednesday night, the storm surge along the west coast of Florida was believed to have peaked and was beginning to recede, while officials in Tampa warned residents to stay on guard.
    • More than a foot of rainfall: Up to 20 inches of rain was expected in some areas, including Lehigh Acres, which received 14.42 inches of rain and Warm Mineral Springs which got 11.05 inches.
    • Hurricane warnings and tornado watches continue: The storm is moving northeast at 9 mph, prompting hurricane warnings for a stretch of Florida’s west coast north of Bonita Beach to the Anclote River, and on the east coast from Sebastian Inlet to the Flagler-Volusia County line.
    • Other states brace for Ian’s destruction: The storm is expected to exit Florida and move into the Atlantic Ocean on Thursday, where governors in Georgia, Virginia, North Carolina and South Carolina have already declared a state of emergency

    With Hurricane Ian continuing to cut a path of destruction through Florida, the state is planning a “three-pronged” search and rescue response, with crews ready to fan out and help residents from the air, ground and sea once it is safe to do, officials said.

    Calls for help were coming into several counties Wednesday.

    In Fort Myers – where about 96% of the city was without power – Fire Chief Tracy McMillion told residents to stay inside, and to stay hopeful. “We’re coming for you, be encouraged,” he told residents.

    The city’s downtown streets were flooded with almost four feet of water Wednesday, Mayor Kevin Anderson told CNN.

    Crews surveying damage in the city early Thursday reported debris in the roadways, flooding, electrical lines down, power poles in the roads, traffic lights out, disabled vehicles and collapsed buildings.

    Fort Myers resident Thomas Podgorny told CNN he was trapped in his two-story home with three others, watching vehicles float away outside and worrying for his neighbors who did not evacuate.

    “I’ve lost my house. I have water and gas flowing through my bottom floor,” Podgorny said. “My neighbors have very little breathing room in their one-story house.”

    A couple in Fort Myers said they were trapped in their home when the ceiling caved in, sending water inside.

    “Something is dripping on me,” Belinda Collins recalled her partner saying. “He got up, and the ceiling – the family room ceiling – caved in.’”

    The couple said they called 911 and were waiting for a call back about when it would be safe to leave.

    In Port Charlotte, the roof above an ICU at a hospital was torn off by the storm while there were about 160 patients inside, Dr. Birgit Bodine, an internal medicine specialist at the facility, told CNN.

    The staff moved patients to a safe place, but they couldn’t evacuate yet because of the conditions outside, the doctor said Wednesday night, adding, “It’s actually pretty terrible.”

    People in nearby Collier County were also without power and trapped in their homes, calling for help.

    “Some are reporting life threatening medical emergencies in deep water. We will get to them first. Some are reporting water coming into their house but not life threatening. They will have to wait. Possibly until the water recedes,” a Collier County Sheriff’s Office statement said.

    Complicating matters further, neighboring Lee County’s 911 system was down and calls were being rerouted to Collier County, Chief Stephanie Spell told CNN. “At this point the majority of our 911 calls are water rescues,” Spell added.

    Elsewhere, conditions were too severe for first responders to be out.

    Emergency crews in Charlotte County were not able to respond to 911 calls Wednesday due to dangerous storm conditions, county Emergency Management Director Patrick Fuller told CNN.

    And in Sarasota, authorities decided Wednesday to withdraw all police officers from the street due to wind speeds and hazardous conditions, Mayor Eric Arroyo told CNN.

    While other areas began rescue efforts Wednesday evening, authorities in Tampa and Orange County warned residents that the worst of Hurricane Ian had “yet to come” Wednesday night.

    Curfews were in effect for residents in Collier, Lee and Charlotte counties while severe conditions continued.

    Photos: Hurricane Ian barrels into Florida

    NOAA/NASA

    A satellite image shows Hurricane Ian making landfall on the southwest coast of Florida on Wednesday, September 28.

    A flooded street is seen in downtown Fort Myers, Florida, after Hurricane Ian made landfall on Wednesday.

    Photos: Hurricane Ian barrels into Florida

    Marco Bello/Reuters

    A flooded street is seen in downtown Fort Myers, Florida, after Hurricane Ian made landfall on Wednesday.

    A woman surveys damage through a door during a power outage in Fort Myers on Wednesday.

    Photos: Hurricane Ian barrels into Florida

    Marco Bello/Reuters

    A woman surveys damage through a door during a power outage in Fort Myers on Wednesday.

    The streets of Naples, Florida, are flooded on Wednesday. City officials asked residents to <a href=shelter in place until further notice.” class=”gallery-image__dam-img” height=”1042″/>

    Photos&colon; Hurricane Ian barrels into Florida

    Naples Police

    The streets of Naples, Florida, are flooded on Wednesday. City officials asked residents to shelter in place until further notice.

    A woman is helped out of a muddy area on Wednesday in Tampa, Florida, where <a href=water was receding due to a negative storm surge.” class=”gallery-image__dam-img” height=”1264″/>

    Photos&colon; Hurricane Ian barrels into Florida

    Ben Hendren/Anadolu Agency/Getty Images

    A woman is helped out of a muddy area on Wednesday in Tampa, Florida, where water was receding due to a negative storm surge.

    Strong winds hit Punta Gorda, Florida, on Wednesday.

    Photos&colon; Hurricane Ian barrels into Florida

    Ricardo Arduengo/AFP/Getty Images

    Strong winds hit Punta Gorda, Florida, on Wednesday.

    Sailboats anchored in Roberts Bay are blown around in Venice, Florida, on Wednesday.

    Photos&colon; Hurricane Ian barrels into Florida

    Pedro Portal/El Nuevo Herald/TNS/Abaca/Reuters

    Sailboats anchored in Roberts Bay are blown around in Venice, Florida, on Wednesday.

    Melvin Phillips stands in the flooded basement of his mobile home in Stuart, Florida, on Wednesday.

    Photos&colon; Hurricane Ian barrels into Florida

    Crystal Vander Weit/TCPalm/USA Today Network

    Melvin Phillips stands in the flooded basement of his mobile home in Stuart, Florida, on Wednesday.

    A man walks where <a href=water was receding from Tampa Bay on Wednesday.” class=”gallery-image__dam-img” height=”1125″/>

    Photos&colon; Hurricane Ian barrels into Florida

    Bryan R. Smith/AFP/Getty Images

    Damage is seen at the Kings Point condos in Delray Beach, Florida, on Wednesday. <a href=Officials believe it was caused by a tornado fueled by Hurricane Ian.” class=”gallery-image__dam-img” height=”1332″/>

    Photos&colon; Hurricane Ian barrels into Florida

    Greg Lovett/The Palm Beach Post/USA Today Network

    Damage is seen at the Kings Point condos in Delray Beach, Florida, on Wednesday. Officials believe it was caused by a tornado fueled by Hurricane Ian.

    A TV crew broadcasts from the beach in Fort Myers on Wednesday.

    Photos&colon; Hurricane Ian barrels into Florida

    Marco Bello/Reuters

    A TV crew broadcasts from the beach in Fort Myers on Wednesday.

    Utility trucks are staged in a rural lot Wednesday in The Villages, a Florida retirement community.

    Photos&colon; Hurricane Ian barrels into Florida

    Stephen M. Dowell/Orlando Sentinel/AP

    Utility trucks are staged in a rural lot Wednesday in The Villages, a Florida retirement community.

    Highways in Tampa, Florida, are empty Wednesday ahead of Hurricane Ian making landfall. Several coastal counties in western Florida were under mandatory evacuations.

    Photos&colon; Hurricane Ian barrels into Florida

    Shannon Stapleton/Reuters

    Highways in Tampa, Florida, are empty Wednesday ahead of Hurricane Ian making landfall. Several coastal counties in western Florida were under mandatory evacuations.

    An airplane is overturned in Pembroke Pines, Florida, on Wednesday.

    Photos&colon; Hurricane Ian barrels into Florida

    Wilfredo Lee/AP

    An airplane is overturned in Pembroke Pines, Florida, on Wednesday.

    Zuram Rodriguez surveys the damage around her home in Davie, Florida, early on Wednesday.

    Photos&colon; Hurricane Ian barrels into Florida

    Joe Cavaretta/South Florida Sun-Sentinel via AP

    Zuram Rodriguez surveys the damage around her home in Davie, Florida, early on Wednesday.

    People play dominoes by flashlight during a blackout in Havana, Cuba, on Wednesday. Crews in Cuba have been working to restore power for millions after the storm battered the western region with high winds and dangerous storm surge, <a href=causing an islandwide blackout.” class=”gallery-image__dam-img” height=”1953″/>

    Photos&colon; Hurricane Ian barrels into Florida

    Ramon Espinosa/AP

    People play dominoes by flashlight during a blackout in Havana, Cuba, on Wednesday. Crews in Cuba have been working to restore power for millions after the storm battered the western region with high winds and dangerous storm surge, causing an islandwide blackout.

    People walk through a flooded street in Batabano, Cuba, on Tuesday.

    Photos&colon; Hurricane Ian barrels into Florida

    Yamil Lage/AFP/Getty Images

    People walk through a flooded street in Batabano, Cuba, on Tuesday.

    Southwest Airlines passengers check in near a sign that shows canceled flights at the Tampa International Airport on Tuesday.

    Photos&colon; Hurricane Ian barrels into Florida

    Chris O’Meara/AP

    Southwest Airlines passengers check in near a sign that shows canceled flights at the Tampa International Airport on Tuesday.

    Maria Llonch retrieves belongings from her home in Pinar del Rio, Cuba, on Tuesday.

    Photos&colon; Hurricane Ian barrels into Florida

    Ramon Espinosa/AP

    Maria Llonch retrieves belongings from her home in Pinar del Rio, Cuba, on Tuesday.

    Traffic builds along Interstate 4 in Tampa on Tuesday.

    Photos&colon; Hurricane Ian barrels into Florida

    Willie J. Allen Jr./Orlando Sentinel via AP

    Traffic builds along Interstate 4 in Tampa on Tuesday.

    A man carries his children through rain and debris in Pinar del Rio on Tuesday.

    Photos&colon; Hurricane Ian barrels into Florida

    Alexandre Meneghini/Reuters

    A man carries his children through rain and debris in Pinar del Rio on Tuesday.

    People drive through debris in Pinar del Rio on Tuesday.

    Photos&colon; Hurricane Ian barrels into Florida

    Alexandre Meneghini/Reuters

    People drive through debris in Pinar del Rio on Tuesday.

    Frederic and Mary Herodet board up their Gulf Bistro restaurant in St. Pete Beach, Florida, on Tuesday.

    Photos&colon; Hurricane Ian barrels into Florida

    Joe Raedle/Getty Images

    Frederic and Mary Herodet board up their Gulf Bistro restaurant in St. Pete Beach, Florida, on Tuesday.

    NASA's Artemis I rocket rolls back to the Vehicle Assembly Building at the Kennedy Space Center in Cape Canaveral, Florida, on Tuesday. The launch of the rocket was postponed due to the impending arrival of Hurricane Ian.

    Photos&colon; Hurricane Ian barrels into Florida

    Jim Watson/AFP/Getty Images

    NASA’s Artemis I rocket rolls back to the Vehicle Assembly Building at the Kennedy Space Center in Cape Canaveral, Florida, on Tuesday. The launch of the rocket was postponed due to the impending arrival of Hurricane Ian.

    Hurricane Ian is seen from the International Space Station on Monday, September 26.

    Photos&colon; Hurricane Ian barrels into Florida

    NASA via AP

    Hurricane Ian is seen from the International Space Station on Monday, September 26.

    Waves kick up along the shore of Batabano as <a href=Hurricane Ian reaches Cuba on Monday.” class=”gallery-image__dam-img” height=”1145″/>

    Photos&colon; Hurricane Ian barrels into Florida

    A Cuban family transports personal belongings to a safe place in the Fanguito neighborhood of Havana on Monday.

    Photos&colon; Hurricane Ian barrels into Florida

    Yamil Lage/AFP/Getty Images

    A Cuban family transports personal belongings to a safe place in the Fanguito neighborhood of Havana on Monday.

    A family carries a dog to a safe place in Batabano on Monday.

    Photos&colon; Hurricane Ian barrels into Florida

    Adalberto Roque/AFP/Getty Images

    A family carries a dog to a safe place in Batabano on Monday.

    People wait in lines to fuel their vehicles at a Costco store in Orlando on Monday.

    Photos&colon; Hurricane Ian barrels into Florida

    Phelan M. Ebenhack/AP

    People wait in lines to fuel their vehicles at a Costco store in Orlando on Monday.

    Ryan Copenhaver, manager of Siesta T's in Sarasota, Florida, installs hurricane panels over the store's windows on Monday.

    Photos&colon; Hurricane Ian barrels into Florida

    Mike Lang/USA Today Network

    Ryan Copenhaver, manager of Siesta T’s in Sarasota, Florida, installs hurricane panels over the store’s windows on Monday.

    A man helps pull small boats out of Cuba's Havana Bay on Monday.

    Photos&colon; Hurricane Ian barrels into Florida

    Yamil Lage/AFP/Getty Imagaes

    A man helps pull small boats out of Cuba’s Havana Bay on Monday.

    Shelves are empty in a supermarket's water aisle in Kissimmee, Florida, on Monday.

    Photos&colon; Hurricane Ian barrels into Florida

    Gregg Newton/AFP via Getty Images

    Shelves are empty in a supermarket’s water aisle in Kissimmee, Florida, on Monday.

    Cathie Perkins, emergency management director in Pinellas County, Florida, references a map on Monday that indicates where storm surges would impact the county. During a news conference, she urged anyone living in those areas to evacuate.

    Photos&colon; Hurricane Ian barrels into Florida

    Martha Asencio-Rhine/Tampa Bay Times via ZUMA Press Wire

    Cathie Perkins, emergency management director in Pinellas County, Florida, references a map on Monday that indicates where storm surges would impact the county. During a news conference, she urged anyone living in those areas to evacuate.

    Sarah Peterson fills sandbags in Fort Myers Beach, Florida, on Saturday, September 24.

    Photos&colon; Hurricane Ian barrels into Florida

    Andrew West/USA Today Network

    Sarah Peterson fills sandbags in Fort Myers Beach, Florida, on Saturday, September 24.


    Even before the hurricane made landfall, officials knew the damage would be severe, and there will be a long road to recovery.

    “Ian is going to be a life-changing event. This is a very powerful, catastrophic storm that is going to do significant damage,” President and CEO of Florida Power & Light Eric Silagy, said.

    There will be sections of infrastructure that crews won’t be able to repair and will have to be rebuilt, which can take weeks, Silagy said.

    Jennifer Dexter, a spokesperson for the town of Fort Myers Beach, told CNN backup water pumps are down.

    “When the backup water pump system goes down, that shows you how serious it is,” Dexter said.

    Lee County Utilities issued a system-wide boil water notice for all customers effective immediately due to the impacts of the hurricane, according to county officials. Residents in parts of Pasco County were also asked to boil their tap water as the water distribution system in the area lost pressure and a water main ruptured.

    Punta Gorda’s water system is empty and boil water notices are in effect, according to an update from the city overnight.

    In Manatee County, residents were asked to limit flushing, showering, doing dishes and laundry due to power outages impacting the system.

    In Cape Coral, authorities were getting reports of significant structural damage across the city, Ryan Lamb, the city’s fire chief and emergency management director, told CNN.

    Florida Gov. Ron DeSantis has requested President Joe Biden approve a major disaster declaration for all 67 counties in the state, his office said in a news release. DeSantis is also requesting Biden grant FEMA the authority to provide 100% federal cost share for debris removal and emergency protective measures for the first 60 days from Ian’s landfall.

    After walloping Cuba and making landfall in Florida, Hurricane Ian is expected to slowly move across the central portion of the state before exiting into the Atlantic Ocean Thursday afternoon, where it could strengthen again and affect another part of the US.

    The governors of Georgia, Virginia, North Carolina and South Carolina have all declared states of emergency in preparation for the storm’s potential impact.

    9/28 5pm EDT: #Ian will cross the FL peninsula and likely bring life-threatening storm surge on Thursday & Friday along the coasts of northeast Florida, Georgia, & South Carolina, where a storm surge warning is in effect. Residents should follow any advice from local officials. pic.twitter.com/Q8eZ9PfVpg

    — NHC Storm Surge (@NHC_Surge) September 28, 2022

    There is a danger of “life-threatening” storm surge on Thursday and Friday along the coasts of northeast Florida, Georgia and South Carolina, according to the National Hurricane Center. Hurricane conditions are also possible in those areas.

    The storm is expected to drop up to 20 inches of rain across central and northeast Florida, with some isolated areas receiving 30 inches, the hurricane center said.

    Near the hurricane’s core, powerful wind gusts will continue to spread across central Florida and along the east-central coast overnight.

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    September 29, 2022
  • Bank of America now offering zero-down mortgages for Black, Latino first-time homebuyers

    Bank of America now offering zero-down mortgages for Black, Latino first-time homebuyers

    [ad_1]

    Bank of America announced a broad shake-up of its senior management last week, including significant changes for two of Charlotte’s most prominent banking leaders.

    Bank of America announced a broad shake-up of its senior management last week, including significant changes for two of Charlotte’s most prominent banking leaders.


    Chuck Burton

    AP

    Bank of America is launching a new program in Charlotte and several other cities that will offer home loans with no down payments and no closing costs to Black and Latino communities.

    The program, dubbed the “Community Affordable Loan Solution,” aims to offer more affordable mortgages and address the racial homeownership gap between white and Black or Latino Americans, the bank said this week.

    The Charlotte-based bank is also launching the initiative in Dallas, Detroit, Los Angeles and Miami.

    The program will evaluate the creditworthiness of first-time homebuyers based on factors like timely rent, utility bill, phone and auto insurance payments.

    Individual eligibility for the loans will depend on income and home location. Prospective buyers will need to complete a homebuyer certification course before application.

    It was not immediately disclosed when the program will begin accepting applicants.

    Duke Energy Center &#8211; Charlotte Skyline
    The Bank of America mortgage announcement cited data from the National Association of Realtors that shows a nearly 30% percent ​gap between white and Black homeownerhsip rates. Patrick Schneider PatrickSchneiderPhoto.com

    Addressing racial home ownership gap

    The Bank of America announcement cited data from the National Association of Realtors that shows a nearly 30% gap between white and Black homeownerhsip rates. The gap between white and Latino homeowners is nearly 20%.

    That nationwide gap is about on par with Charlotte’s, according to a March report from Stacker, an online news outlet focused on data analysis.

    “The competitive housing market has made it even more difficult for potential homebuyers, especially people of color, to buy homes,” Bank of America said in its release said.

    Homeownership helps families build wealth over time, AJ Barkley, head of neighborhood and community lending at Bank of America said in a news release.

    “Our Community Affordable Loan Solution will help make the dream of sustained homeownership attainable for more Black and Hispanic families,” she said.

    Bank of America is the largest bank in Charlotte by assets and by deposits, with some 62% of the market. It employs about 16,000 people here.

    Enough to close the gap?

    Michael Hoard is a local real estate attorney and president of Charlotte Crown Black Real Estate Association. Programs like Bank of America’s new initiative can be helpful, he said, but don’t remedy deep-seated homeownership disparities.

    “There’s so many different ways in which Black (borrowers) were discriminated against over time,” Hoard said. “Bank of America’s program is a great effort. I don’t think it’s going to be enough to really close the gap significantly.”

    In his experience in Charlotte, programs that go beyond providing capital can be a more effective solution.

    “It’s not just about giving somebody something, it’s also about making sure they’re able to maintain and keep it,” Hoard said. “Giving loans without maybe having some type of wraparound counseling or checks over time for folks — it still makes it a challenge, especially for first-time homebuyers.”

    Small business grant program

    Bank of America is also launching a small business grant program in Charlotte to support women and minority-owned small businesses, according to the bank. It’s designed to extend credit to “historically disadvantaged” small business borrowers and make commercial real estate more affordable.

    The program will offer down payment grants of up to $25,000 for eligible businesses applying for commercial real estate loans. Applicants will need to make a 5% minimum down payment.

    It’s also launching in Atlanta, Chicago, Dallas and Los Angeles, with plans to expand in 2023.

    Other racial equity initiatives

    Bank of America has committed significant philanthropic resources to racial equity efforts in recent years.

    In Charlotte, that’s included a $10 million investment in Johnson C. Smith University, the city’s only historically black university. It’s part of the $25 million the bank committed to the Mayor’s Racial Equity Initiative, a public-private partnership aimed at addressing longstanding racial disparities in the city.

    The bank also gifted $10 million in August to offer in-school healthcare for students in Charlotte-Mecklenburg’s Title 1 schools, in partnership with Atrium Health.

    Bank of America also made headlines in June 2020 for a $1 billion pledge to advance racial equity in America, following the murder of George Floyd. Bank of America later increased the amount to $1.25 billion.

    This story was originally published September 1, 2022 10:00 AM.

    Related stories from Charlotte Observer

    Hannah Lang covers banking, finance and economic equity for The Charlotte Observer. Her work has appeared in The Wall Street Journal, the Triangle Business Journal and the Greensboro News & Record. She studied business journalism at the University of North Carolina at Chapel Hill and grew up in the same town as her alma mater.

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    September 1, 2022
  • The Andy Talley Bone Marrow Foundation to Present at 2018 American Football Coaches Association Convention January 7-10 (Booth #1833) at Charlotte Convention Center

    The Andy Talley Bone Marrow Foundation to Present at 2018 American Football Coaches Association Convention January 7-10 (Booth #1833) at Charlotte Convention Center

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    Retired National Champion Villanova Football Coach Andy Talley to Speak at Convention on Monday, January 8th.

    Press Release
    –


    updated: Dec 20, 2017


    VILLANOVA, Pa., December 20, 2017 (Newswire.com)
    –
    ​The Andy Talley Bone Marrow Foundation, which raises awareness, funds and registers donors on behalf of the national Be The Match Registry®, will be represented by its founder, recently retired 2009 National Champion Villanova Football Coach Andy Talley, and members of the foundation staff at the 2018 American Football Coaches Association (AFCA) Convention in Charlotte, North Carolina this coming January 7 to January 10 at the Charlotte Convention Center, in Booth #1833. 

    In addition, Coach Talley will speak at the 2018 AFCA Convention on Monday, January 8, delivering remarks on how the assembled college football coaches can help build the bone marrow donor registry in their communities.  Coach Talley’s presentation is scheduled for approximately 3:49 p.m. ET during the AFCA Convention General Session at the Charlotte Convention Center.

    Coach Talley and the Andy Talley Bone Marrow Foundation will also host the “Get in the Game Coach Appreciation Happy Hour, A Celebration of Saving Lives!” for the football coaches currently active in the foundation’s registration efforts, on Sunday, January 7, at the Westin Charlotte.

    The mission of the Andy Talley Bone Marrow Foundation is to increase the odds of finding lifesaving donors for patients in need of a marrow transplant, by registering young, committed donors to the Be the Match Registry.

    A nationally-recognized champion football coach, Andy Talley began his involvement in the fall of 1992 during his long tenure as head coach of the Villanova University Wildcats Football program.  He had been made aware of the devastating odds facing those in need of bone marrow transplants through a Philadelphia radio show health segment, and held his first on-campus testing, registering over 200 student-athletes and coaching staff from the Villanova University community that fall.

    After several years of grass-roots development and campaigns that involved Talley’s friends in the college football coaching ranks, he was tirelessly raising funds from independent donors to cover the cost of tissue-typing kits (which now consist solely of a cheek swab).

    During spring football practice at Villanova in 2008, Coach Talley received a phone call from Be The Match.  Over the past 25 years, Be The Match, operated by the National Marrow Donor Program®, has managed the largest and most diverse marrow registry in the world. Be The Match wanted to partner with Coach Talley to expand his on-campus drive efforts. Together they formed the “Get in the Game. Save a Life” initiative.

    Talley formally launched the non-profit Andy Talley Bone Marrow Foundation in November 2010. Since the launch, Coach Talley has enlisted over 80 college football programs to participate in the “Get in the Game, Save a Life” initiative, with each college football program hosting their own on-campus donor drives each spring.

    Since 2008, the Andy Talley Bone Marrow Foundation’s “Get in the Game, Save a Life” registry drives have been responsible for adding over 84,000 potential donors. More importantly, there have been nearly 400 transplants that have occurred with the program’s donors, giving those patients a second chance at life.

    The Andy Talley Bone Marrow Foundation’s fundraising efforts include events, such as their annual “Bash” in the Philadelphia area and a number of golf outings, to help support the expense of registering approximately 10,000 new bone marrow donors each year.  With a price tag of $100 per donor per test, the program relies on charitable donations from corporate sponsors and individuals to support the program.  To date, the Andy Talley Bone Marrow Foundation has raised over $400,000 in support of the Be The Match program.

    Additional information about the Andy Talley Bone Marrow Foundation is available on their website at http://www.TalleyBoneMarrow.org.

    Media Contact:
    Jim DeLorenzo, Jim DeLorenzo Public Relations
    Phone: 215-266-5943
    E-mail:  jim@jhdenterprises.com

    Source: The Andy Talley Bone Marrow Foundation

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    December 20, 2017
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