Business

Attorney general appeals utility rate rule

November 26, 2014

(The News & Observer, Raleigh)

North Carolina Attorney General Roy Cooper appealed a state rule Monday that allows water utilities to raise rates without holding public hearings. The rule was approved in May by the N.C. Utilities Commission in a rate case for Cary-based Aqua North Carolina and applies only to private water-and-sewer utilities. The attorney general's office told the N.C. Supreme Court that the rule doesn't give enough consideration to customers.

Charlotte home prices rise in September

November 26, 2014

(The Charlotte Observer)

As home sale prices nationally continued to slow in September, the Charlotte area posted higher year-over-year appreciation compared with August. Prices were 3.3% higher than September a year ago, while August saw a 2.5% annual gain. Dallas was the only other city to post higher gains.

Boone brewery plans to add cider

November 26, 2014

(The Watauga Democrat, Boone)

Boone-based Appalachian Mountain Brewery Inc. is seeking permits to add cider to its operation. The company's CEO says Hard Mountain Cider LLC, a subsidiary of the brewery, already has a winery permit from the federal Alcohol and Tobacco Tax and Trade Bureau to produce hard cider. The cider operation will likely start with three employees, and production could begin by the end of this year.

Brunswick to buy land once owned by leader

November 26, 2014

(The Star News, Wilmington)

Brunswick County plans to purchase 35 acres of waterfront property that was once partly owned by its board chairman, Phil Norris. The $3.5 million deal will close on Dec. 12. It was set up by Norris, who says he took a minimal role after suggesting the property to the parks and recreation department who were looking for land for a waterfront park. Independent appraisers value the land at more than $7.7 million. 

Greensboro developer plans spec building

November 26, 2014

(The News & Record, Greensboro)

Developer Simpson Schulman & Beard announced plans to build a 200,000-square-foot industrial building on a site at Rock Creek Dairy Road and Franz Warner Parkway in Rock Creek Center in eastern Guilford County. The site, which has no planned tenant, would provide more space for the nearly full business park.

Fayetteville hotel goes to auction in December

November 26, 2014

(The Fayetteville Observer)

The Prince Charles Hotel, opened in 1925 in downtown Fayetteville, will be sold to the highest bidder in an online auction scheduled for Dec. 10-15. The minimum bid for the bankrupt historic property is set at $200,000; the current owner bought the hotel and some adjacent property in 2007 for $1.9 million. The adjacent property is not included in the auction. At its height, the hotel hosted wedding receptions, political functions and other gatherings in its top-floor ballroom.

Catholic charity organization asks BofA to split CEO, chairman roles

November 25, 2014

(The Charlotte Observer)

Citing concern over Bank of America's continuing penalties and settlements, New Jersey-based Sisters of Charity of St. Elizabeth asked the Charlotte-based bank to reverse its decision to name CEO Brian Moynihan chairman. The shareholder joins the California State Teachers' Retirement System and New York City Comptroller Scott Stringer in calling for the bank to separate the leadership roles.

RF Micro to complete TriQuint acquisition Dec. 31

November 25, 2014

(News & Record, Greensboro)

Greensboro-based RF Micro Devices will complete its $1.6 billion acquisition of Hillsboro, Ore.-based TriQuint Semiconductor on Dec. 31. In a joint release, the two chipmakers said they have received shareholder and regulatory approval for the merger and the new company, named Qorvo, will begin trading on the NASDAQ stock exchange on Jan. 2, 2015.

Charlotte Checkers want $4M renovation of Bojangles' Coliseum

November 25, 2014

(The Charlotte Observer)

The Charlotte Checkers will return to Bojangles' Coliseum in 2015-16 if the city agrees to spend $16 million in renovations. That's $4 million more than the city had already planned to spend on coliseum upgrades, and an agreement would represent the first time public funds have subsidized the minor-league hockey team, which has played at uptown's Time Warner Cable Arena since 2005.

Pittsboro leaders hear amended Chatham Park plan

November 25, 2014

(The News & Observer, Raleigh)

A standing-room only crowd attended a meeting of the Pittsboro Board of Commissioners Monday night where the group discussed a revised master plan for the 7,000-acre Chatham Park development. The latest version of the plan adds 47 acres and tweaks the language in the proposal that was approved by Pittsboro in June.