Headline Roundup: Legislature Still In Session, Lowe's 2Q Income Up, More
The North Carolina House is in session again today on what legislators hope will be the last day of the short session. The House is expected to pass a bill to address coal ash. House and Senate leaders reached a compromise on the measure late yesterday.
Lowe's 2Q Income Beats Expectations
Lowe's second quarter net income was up 10 percent, beating analyst expectations. The Mooresville based home improvement chain says improving weather contributed to the increase.
But Lowe's has lowered its full-year revenue outlook slightly, citing year to date sales and expectations for the second half of 2014.
The company earned just over $1 billion in the quarter, up from $941 million in the same period last year.
Irish Company To Close Charlotte Plant
Eaton is closing its Charlotte clutch-assembly plant. The Dublin, Ireland based company has made clutches for commercial vehicles at the facility since 2007. Eaton plans to move the work done in Charlotte to plants in Indiana and Mexico.
The Charlotte Observer reports the company has given state officials notice that 84 people will lose their jobs by the end of the year. The first layoffs will happen by October 15.
A company spokesman says the closing will not affect Eaton's electrical facility in Charlotte that employs 79 people.
Governor Appoints Head Of Ethics Commission
Governor McCrory has appointed retired state Supreme Court justice George Wainwright to head the state ethics commission. Wainwright is from Carteret County and has a background in agribusiness, real estate, and law.
The ethics commission sets standards for the public officials, state employees, and certain appointees to boards and commissions. It also oversees public disclosure of economic interests by people working in sate government and amends state lobbying laws.
Hearing On Fracking Rules Held Today
Nearly 400 people showed up today for a hearing on proposed North Carolina fracking rules. Many of the people who filled an auditorium at N.C. State University opposed the practice of extracting natural gas from underground layers of shale.
The meeting is one of four during a comment period that lasts until the end of September. The state Mining and Energy Commission will analyze the comments and consider revisions to the rules, which then must undergo a fiscal review before legislators have the final say.
A new state law clears the way for fracking permits to be issued as soon as next spring.
Marine Accused Of Faking Kidnapping Faces Hearing This Week
Military officials have scheduled a hearing this week for a Camp Lejeune Marine accused of faking his own kidnapping in Iraq.
The Marine Corps says the hearing for Corporal Wassef Hassoun will start tomorrow.
Hassoun disappeared twice from the military --- first in june 2004 in a purported kidnapping, then again in January 2005 when he failed to return to Camp Lejeune.