Business

Food Lion co-founder Ralph Ketner dies

May 31, 2016

(The Charlotte Observer)

Ralph Ketner, the Rowan County native who co-founded the supermarket chain that became Food Lion, died Sunday. He was 95. Ketner and two partners started Food Town in Salisbury in 1957. Ketner said the group landed its first 125 investors by calling people in the phone book, asking for $50 or $100 apiece — investments that eventually were worth $1 million. The business changed its name to Food Lion in 1982 and now has more than 1,100 stores in the Southeast.

Chatham Park picks Eco Group for first phase of development

May 31, 2016

(The News & Observer, Raleigh)

Construction is expected to begin next year at Chatham Park, the massive planned community near Pittsboro led by Cary's Preston Development. The Eco Group will develop the first phase of commercial property, which could include a hotel, a brewery and an apartment complex for seniors. Construction on residential units also is expected to begin in about 12 months, with the first homes priced between $250,000 to $500,000. The 8,000-acre project is zoned for 22,000 homes.

Novant Health reports 22% increase in excess income

May 31, 2016

(Winston-Salem Journal)

Novant Health reported on Friday $56.3 million in excess income — the equivalent of profit for a nonprofit company — for the first quarter, an increase of 22.1%. Total operating revenue topped $1 billion, a nearly 7% increase, for the Winston-Salem-based health care system

Charlotte businessman and civic leader Cliff Cameron dies at 96

May 31, 2016

(The Charlotte Observer)

Former First Union CEO Cliff Cameron died Saturday in Charlotte. Cameron led the Charlotte-based bank from 1966 to 1984, served as the state budget director under Gov. Jim Martin from 1985 to 1990 and in 1983 founded "The Group," a gathering of business leaders that included Ed Crutchfield, Hugh McColl and former Duke Power CEO Bill Lee who met informally to discuss community affairs.

No new film projects planned in Wilmington

May 31, 2016

(Star-News, Wilmington)

With a pair of film productions scheduled to wrap this summer in Wilmington, the industry could experience a lull. The state legislature is expected to approve another $30 million for the film grant fund, but no new projects have made plans to shoot in the area.

High Point Market reports slight dip in attendance

May 31, 2016

(The News & Observer, Raleigh)

More than 79,000 people attended the High Point Market in April, about 1,000 fewer than the previous year. Attendance at last year's spring event rose 2.5% over the previous year.

High Point Market report could show HB2's impact on business

May 27, 2016

(The News & Observer, Raleigh)

The High Point Market on Friday will release attendance figures that could show the impact of House Bill 2 on the state's economic climate. Buyers for companies including Williams-Sonoma Inc. skipped last month's five-day event in protest of the law, which limits legal protections for LGBT people.

NC DMV bans Tesla sales at Charlotte area store

May 27, 2016

(WFAE)

The N.C. DMV says Tesla Motors can't sell cars at its Matthews showroom, which opened last year. Under state law, automakers can't sell cars directly to consumers unless they can show it's in the public's best interest. Nearby dealers objected to the California automaker's plan to sell cars at its store near Charlotte. Oddly, Tesla can still sell electric vehicles at its Raleigh store, 166 miles away.

2 more BB&T execs announce retirement

May 27, 2016

(Winston-Salem Journal)

Ricky Brown, one of BB&T's top five executives, will retire Dec. 15. Brown, 60, was president of subsidiary Branch Banking & Trust and BB&T's community banking unit and had been considered a leading candidate to eventually replace Kelly King as CEO. David Weaver will become president of community banking. Also, Chief Marketing Officer Steve Wiggs plans to retire Sept. 30 after 37 years with the Winston-Salem-based bank.

Raleigh's Paragon Commercial files for IPO

May 27, 2016

Paragon Commercial, parent of Raleigh-based commercial lender Paragon Bank, filed for an initial public offering on Thursday. The company plans to raise up to $29 million. Started in 1999, Paragon has $1.3 billion in assets.