Business

Durham's Scioderm acquired for $229M

September 1, 2015

(The News & Observer, Raleigh)

New Jersey-based Amicus Therapeutics could pay up to $947 million for the Durham startup if Scioderm's experimental treatment for a rare skin disorder is approved by the FDA. Zorblisa is a skin cream used to treat Epidermolysis bullosa, which causes blistering rashes and affects 30,000 to 40,000 people.

Charlotte's AT&T Plaza sells for $45.5M

September 1, 2015

(The Charlotte Observer)

Stream Realty Partners paid $45.5 million for the 360,000-square-foot AT&T building in downtown Charlotte and is planning extensive renovations, including a new facade, new lobbies and new retail space. AT&T is relocating employees to offices off West Tyvola Road.
Related: Charlotte's office vacancy rate down to 13.5%

Dispute over Yadkinville hospital closure could head to trial

September 1, 2015

(Winston-Salem Journal)

A lawsuit over the closing of Yadkin Valley Community Hospital could go to trial next June. The county claims the hospital's operator, HMC/CAH Consolidated, and its parent company breached their contract by abruptly closing the 20-bed hospital on May 22 (Statewide, July).

Smithfield ditching Murphy-Brown name

September 1, 2015

(Sampson Independent)

Smithfield Foods Inc., the Chinese-owned pork producer with a long history in North Carolina, is renaming its Murphy-Brown unit Smithfield Hog Production Division. Smithfield is centralizing operations to put its 48,000 employees under the same brand name. Former state Sen. Wendell Murphy sold his Murphy Family Farms Inc. to Smithfield in 2000, then served as a company director for many years. The company was acquired by China-based Shuanghui International Holdings Ltd. for $7.1 billion in 2013.

Here's a history of Smithfield Foods:  http://hamptonroads.com/2013/05/timeline-history-smithfield-foods

Longtime BB&T executive Wilson dies at 60

September 1, 2015

(The Wilson Times)

Former BB&T VP and operations division manager Charles Leon Wilson III died at home Sunday following a two-year battle with a brain tumor. He was 60. Wilson worked for BB&T for 38 years and was a member of the executive management team for more than 15 years. Winston-Salem-based BB&T was started in Wilson in 1872 and still maintains its largest employee base there.

CLT still seventh-busiest airport in the world

September 1, 2015

(The Charlotte Observer)

Charlotte Douglas International Airport had 545,178 takeoffs and landings in 2014, a 2% decrease from the year before but enough to maintain its position as the seventh busiest airport in the world; Chicago was the busiest. Based on passenger traffic, Charlotte doesn't rank in the top 10 internationally.

 

CBS cancels 'Under the Dome'

September 1, 2015

(Wilmington StarNews)

CBS said Monday it will not renew Under the Dome, the TV drama series filmed in the Wilmington area for the last three seasons. The network's president had said in July the show probably would not return to Wilmington if renewed for a fourth season after the state legislature reduced film incentives.

 

Small towns fear Belk buyout could lead to store closures

August 31, 2015

(The News & Observer, Raleigh)

Residents across North Carolina worry Belk's new owners may eventually decide to shutter stores in smaller towns, where often it's the only full-service department store. Charlotte-based Belk announced last week it is being sold to Sycamore Partners, a New York-based private-equity firm, for $3 billion. Company officials say no major changes are planned.
Related: The Street: Belk buyout is 'a steal' for Sycamore Partners

Group says BofA shareholders should split CEO, chairman roles

August 31, 2015

(The Charlotte Observer)

CtW Investment Group said Friday that Bank of America shareholders should vote against bylaw changes that allowed CEO Brian Moynihan to become chairman. CtW is an advocate for union-affiliated pension funds. The Charlotte-based bank is holding a special meeting Sept. 22 for shareholders to vote on the issue.

Western NC sees more international tourists

August 31, 2015

(Asheville Citizen-Times)

Asheville business owners are noticing an uptick in the number of international tourists. About 1.2 million international travelers visited the state in 2013, the latest year statistics are available, but tourism officials expect a significant increase in 2014 and 2015.