Business

Coal-ash removal could cost $10 billion

April 23, 2014

(The News & Observer, Raleigh)

According to a Duke Energy official, moving coal ash from 14 sites across the state to landfills could cost as much as $10 billion. A cheaper option that would involve excavating at least four of the sites and covering the others with tarpaulins would cost between $2 billion and $2.5 billion. 

NewBridge Bank cuts 5% of workforce in restructuring

April 23, 2014

(Winston-Salem Journal)

NewBridge Bank will eliminate 22 jobs, or 5% of its workforce, as part of a restructuring following the Greensboro bank's acquisition of Raleigh-based CapStone Bank earlier this month and Southport-based Security Savings Bank in October. The cuts are part of a change to the staffing model at the bank's 40 branches; no branch closings were announced.

Charlotte developer planning 20-acre mixed-use project in east Charlotte

April 23, 2014

(The Charlotte Observer)

Goode Properties will develop a 20-acre site near the intersection of Idlewild and Monroe roads in east Charlotte in a mixed-use project that will include 260 apartments and 100,000 square feet of retail, restaurants and offices.

Koury Corp.'s Showfety to chair Triad Airport Authority

April 23, 2014

(The News & Record, Greensboro)

The president of a Greensboro development and property-management company was named chairman of the Piedmont Triad Airport Authority. Stephen Showfety of Koury Corp. replaces Henry Isaacson, who retired in March after 11 years leading the board.

Durham's Cree ready to explore acquisitions

April 23, 2014

(The News & Observer, Raleigh)

The CEO of Durham-based Cree told analysts the company has begun to look at acquisition possibilities. The company, which makes LED lightbulbs and lightbulb components and employs about 2,400 in the Triangle, posted $405.3 million in revenue for its fiscal third quarter, slightly lower than analysts' projections.  

Charlotte airfares increased slightly, still above national average

April 23, 2014

(The Charlotte Observer)

Airfares were up 0.5% in the fourth quarter at Charlotte Douglas International Airport compared with the same period a year ago. The average price for a round-trip domestic ticket at the airport was $405.50 while the national average was $381.

Charlotte investment firms buys majority stake in Lexington candy-maker

April 23, 2014

(The Charlotte Observer)

Charlotte-based Plexus Capital has bought a majority stake in Lexington-based Piedmont Candy Co., which is famous for its Red Bird peppermint puffs which are sold in grocery and convenience stores. The amount of the investment was not disclosed. The candy company will buy new equipment and expand its product lines.

Dixon Hughes Goodman names Snow chief executive

April 23, 2014

(The Charlotte Observer)

Charlotte-based Dixon Hughes Goodman named Matt Snow CEO. Snow joined the firm seven years ago and was previously managing partner for the Charlotte region at the accounting and advisory firm.

Drug companies announce trio of deals; GSK to swap businesses with Novartis

April 22, 2014

(WRAL TechWire)

Novartis will sell its vaccines business, which includes its Holly Springs plant, to GlaxoSmithKline for $7.1 billion and its animal health division to Eli Lilly for $5.4 billion. The Geneva-based pharmaceutical will buy GSK's cancer-drug business for $14.5 billion. Novartis CEO Joseph Jiminez said none of the 15,000 employees affected by the transactions will lose their jobs.

AT&T adds Charlotte, Greensboro to list of candidates for faster Internet service

April 22, 2014

(The Charlotte Observer)

AT&T has added Greensboro, Charlotte, Gastonia and Huntersville to the growing list of metropolitan areas where it hopes to bring Internet service that is up to 100 times faster than standard service. The company announced earlier this month plans to bring its new fiber network to the Triangle and Winston-Salem areas.