Business

Ted Spring sues CFCC trustees

March 30, 2015

(Greater Wilmington Business Journal)

Former Cape Fear Community College President Ted Spring has filed a lawsuit against the school's board of trustees, alleging the group forced him to resign in January. Spring is asking to be reinstated and to be paid damages of at least $25,000.

Belk reports strong 4th quarter earnings

March 30, 2015

(The Charlotte Observer)

Boosted by strong holiday sales, Belk reported fourth-quarter profits of $104.4 million, an 8.4% increase over the same period a year ago. Full-year profits fell by 7.8% to $146.1 million as the Charlotte-based department-store chain spent more than $79 million on store remodels and $33 million on an expansion of its e-commerce distribution center in Jonesville, S.C.

Asheville's Mission Hospital suffers losses from uninsured

March 30, 2015

(Asheville Citizen-Times)

Mission Hospital's 63-bed ER lost $4 million in 2013 after writing off $17.5 million in charity care. Like other providers, the Asheville-based health system relies on private insurance to make money. The system lost $35.4 million on Medicare patients in 2013, and that number is expected to increase as the number of retirees in the region grows.

HondaJet a step closer to final approval

March 30, 2015

(News & Record, Greensboro)

Honda Aircraft has received "provisional type certification" from the Federal Aviation Administration for its HondaJet light aircraft, which it manufactures at Piedmont Triad International Airport ("Ready to Take Off," February 2014). The company says it expects to obtain final certification within the next few months.

Apartments revitalize Triangle downtowns

March 30, 2015

(The News & Observer, Raleigh)

The number of high-end apartment units within a mile of downtown Raleigh will double to nearly 3,000 over the next two years, and downtown Durham's population is expected to double following construction of new apartments there.

Interest in NC film industry will fade without funding

March 30, 2015

(StarNews, Wilmington)

Film-industry officials say there is still interest in bringing film projects to North Carolina, but without an increase in incentives the state will fall lower down on the list of options. An estimated 20% of the state's 4,000-member crew base has left the state to find work in other locations.

UNCW's Vetter to fill in for Roberts on a temporary basis

March 30, 2015

(Greater Wilmington Business Journal)

UNC Wilmington officials said Ron Vetter, associate provost for research and dean of the graduate school, will assume former CIE executive director Jim Roberts' responsibilities on an interim basis. The school announced Thursday that Roberts had left the position, but didn't give a reason for his departure.

Lincolnton textile plant to close after 60 years

March 27, 2015

(The Charlotte Observer)

Mohican Mills will close its plant in Lincolnton, about 20 miles northwest of Charlotte, idling 157 workers by June 8. A subsidiary of New York-based Fab Industries, the textile company has been operating for more than 60 years and is the city's biggest water customer. City Manager Jeff Emory said residents' water bills could go up 10 to 15% after the plant closes.

BofA shareholders won't get a vote on chairman decision

March 27, 2015

(The Charlotte Observer)

Despite pressure from several large investors, Bank of America will not let shareholders vote at its annual meeting on a bylaw change that will allow CEO Brian Moynihan to become chairman.
Related: Bank of America's CEO out-earned by lieutenant once again

Red Ventures closing Wilmington insurance brokerage

March 27, 2015

(Greater Wilmington Business Journal)

Red Ventures will close the Wilmington office of HomeInsurance.com by June 30, according to former employees. The company had more than 100 employees when Indian Land, S.C.-based Red Ventures acquired it in 2012. The Internet marketing firm announced last year it was adding 580 jobs at its Charlotte sales center.