Business

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.

Puckett retires as CFO of Snyder's-Lance

May 27, 2016

(The Charlotte Observer)

Rick Puckett, 62, has been CFO of Snyder's-Lance since the two snack companies merged in 2010; he had been CFO of Charlotte-based Lance since 2006. Puckett will stay on in the postition until a replacement is found.

BofA CEO visits new Raleigh office, says Triangle a growth market

May 27, 2016

(The News & Observer, Raleigh)

Bank of America CEO Brian Moynihan said he expects the company to boost its Triangle presence over the next several years because of the area's strong economic growth. Moynihan was in Raleigh this week to celebrate the company's new offices at an 18-story North Hills tower.

Big mutual-fund company names UNC Charlotte grad as CEO

May 26, 2016

A UNC Charlotte MBA graduate is the incoming CEO at Waddell & Reed, a mutual-fund company that is struggling to retain its share of investors' assets.

Report: Yadkin Financial may be seeking a buyer

May 25, 2016

(Winston-Salem Journal)

Raleigh-based Yadkin Financial has hired Sandler O'Neill & Partners to solicit offers, according to a Bloomberg News report. The Raleigh-based bank, with a market value of about $1.4 billion, completed its biggest purchase in March, paying $456 million for Greensboro-based NewBridge Bancorp. Yadkin has about $7.4 billion in assets.

High-profile group to seek compromise on HB2

May 26, 2016

(The News & Observer, Raleigh)

A bipartisan group led by former state budget director Art Pope and former Lt. Gov. Dennis Wicker is forming to find a solution to the impasse over House Bill 2. Former Republican Gov. Jim Martin will be honorary chairman. The group plans to assemble a group of 16 members representing local governments and who represent both sides of the issue.
Related:
Did losing PayPal over HB2 really cost Charlotte $285 million?
Hornets owner says cancellations at TWC Arena are bad for business

Cone Health to manage Asheboro hospital

May 26, 2016

(Asheboro Courier-Tribune)

Greensboro-based Cone Health has entered into a management-services agreement with Randolph Hospital, effective June 1. The deal leaves only 11 N.C. hospitals that aren't affiliated with with another health care provider, Randolph Chairman Mac Pugh said.