July 2015

Bounty hunter

ZeekRewards seemed too good to be true and it was. Its collapse put former federal prosecutor Ken Bell on an international money chase.

ZeekRewards

Coasting on its laurels

No longer besieged by pirates or privateers, Southport retains a charm that attracts tourists seeking a laid-back, fishing-town vibe.

Southport

Family ties

The Capels have stitched together a business producing braided rugs for nearly a century.

Capel

Plain Blaine

State Employees' Credit Union has soared to $30 billion in assets by keeping it simple and bucking conventional financial wisdom.

Jim Blaine

Latest Blog Posts

BNC recognized for excellence in journalism

By Business North Carolina - Jun 30, 2015 - 8:00:00 am

Business North Carolina took home a record eight Editorial Excellence awards at the Alliance of Area Business Publishers annual conference, held last weekend in Charlotte.

High Point official is state's top economic developer

By David Mildenberg - Jun 10, 2015 - 4:00:00 pm

The North Carolina Economic Developers Association (NCEDA) named Sandy Dunbeck, senior vice president of the High Point Economic Development Corporation, as the state's 2015 Economic Developer of the Year.

Special Reports and Publications

Business and Education Round Table

NC must invest in science and technology education to build a stronger, more capable workforce.

2015 Financial 100

NC banks and credit unions report big profit gains after working through most recession-era troubled loans.

Cash crop

From biotechnology to education, NC's agricultural leaders seek ways to keep the industry strong.

NC's Best Golf Courses

For the eighth consecutive year, the North Carolina Golf Panel is proud to partner with Business North Carolina in publishing rankings of the best golf courses in what we believe is the best state for golf.

Biotechnology Round Table

North Carolina's biotechnology leaders look for ways to expand into the national biodefense sector.

Daily Digest

Charlotte's Babcock & Wilcox spins off business unit

(The Charlotte Observer)

Charlotte-based Babcock & Wilcox split into two companies Tuesday. The company's power-generation business was spun off into a company called Babcock & Wilcox Enterprises and remains based in Charlotte. The government and nuclear operations business is called BWX Technologies and is now based in Lynchburg, Va. Both companies will begin trading separately on the NYSE July 1.

Congress allows federal Export-Import Bank to expire

(The News & Observer, Raleigh)

The federal Export-Import Bank was set to expire Tuesday, despite protests from the National Association of Manufacturers, which says the bank's existence is critical for the U.S. to compete in the global marketplace.
Related: Local companies disappointed at export-import bank sunset, Greater Wilmington Business Journal

BB&T board approves incentive pay for Susquehanna merger

(Winston-Salem Journal)

BB&T's board of directors approved $2.6 million in incentives for its top five executives, pending the completion of the bank's acquisition of Lititz, Pa.-based Susquehanna Bancshares and subsequent conversion of its 243 branches. The $2.5 billion deal is expected to close in the third quarter.

Brunswick County to create economic-development department

(StarNews, Wilmington)

Fast-growing Brunswick County will establish an economic-development department Wednesday after all members of a local economic-development commission resigned. Brunswick County Manager Ann Hardy will become interim director of the new department, while Jim Bradshaw, executive director of the commission, will become a special adviser until he retires in October.
Related: Board of economic development group resigns, Greater Wilmington Business Journal

DENR warns legislators about impact of bill

(The News & Observer, Raleigh)

The N.C. Department of Environment and Natural Resources is urging state lawmakers not to support a Senate bill that would eliminate air-quality monitors throughout the state and loosen other regulations for air and water quality and recycling. Supporters of the bill say it promotes more business-friendly policies.

House, Senate leaders agree to 45-day budget extension

(WRAL.com)

The N.C. Senate is expected to approve Tuesday a measure that will allow the state to continue funding programs at current spending levels until Aug. 14. The House approved the budget extension Monday night. The budget deadline is 11:59 p.m. Tuesday.

McCrory to wait on Medicaid expansion

(The News & Observer, Raleigh)

Gov. McCrory said he won't push for an expansion of Medicaid in North Carolina until more research is available from states that have already expanded the health-benefits program. A U.S. Supreme Court ruling last week validated subsidies offered by states, including North Carolina, that allowed the federal government to run their ACA health exchanges.

Industry groups wary of Senate budget plan

(The News & Observer, Raleigh)

Leaders of the N.C. Biosciences Organization and the N.C. Technology Association support the state Senate's proposal to lower corporate and personal income taxes, but say provisions such as ending the R&D tax credit and cutting funding for the N.C. Biotech Center will stifle innovation.
Related: Hospitals, colleges lobby against Senate tax plan; NC Senate provision could raise bank taxes

 

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BNC Pulse

Beach bust Will recent shark attacks along the NC coast have a negative impact on the state tourism industry?  Yes  No

N.C. Family Business of the Year Winners

Schiffman's Jeweler's, K&W Cafeterias, Rose Chauffeured Transportation and Carolina Management Team have been recognized by the Wake Forest University Family Business Center and Business North Carolina with the 2014 North Carolina Family Business of the Year Awards.