Business

About 600 turn out for final fracking meeting

September 15, 2014

(Asheville Citizen-Times)

About 600 people attended the state's final public hearing on hydraulic-fracturing regulations. The majority of the speakers at the four-hour meeting in Cullowhee opposed the practice. The N.C. Geological Survey retreated from plans to collect rock samples in Western N.C. to test for potential shale-gas deposits.

Charlotte airport seeks to borrow $100 million for next phase of expansion

September 15, 2014

(The Charlotte Observer)

Charlotte Douglas International Airport plans to borrow $100 million from PNC Bank for terminal renovations and additional parking. The projects are part of a $1 billion planned expansion. The airport's new $120 million hourly parking deck is scheduled to open in November.

Dollar stores proliferate in southeastern NC

September 15, 2014

(StarNews, Wilmington)

The nation's top three dollar-store chains operate a combined 40 stores in New Hanover, Brunswick and Pender counties, and more are planned. The smaller-store format allows the stores to act as corner or convenience stores in locations without grocery stores nearby.

XPO Logistics to grow in Charlotte

September 15, 2014

(The Charlotte Observer)

The CEO of XPO Logisitics says the shipping company plans to keep growing through acquisitions, and its Charlotte office, where it employs more than 360 workers, will grow as well. The Greenwich, Conn.-based shipping company completed a $615 million acquisition of High Point-based New Breed Logistics earlier this month.

Salix enters agreement with Indian pharma to sell drugs in Canada

September 15, 2014

(The News & Observer, Raleigh)

Raleigh-based Salix Pharmaceuticals signed an agreement to allow Lupin, the third largest Indian pharmaceutical company by sales, to market and sell some of Salix's drugs in Canada. Salix, ranked 12th on Business NC's annual list of Top 75 Public Companies based in North Carolina, announced in July it plans merge with Italian drug maker Cosmo Pharmaceuticals SpA and move its headquarters to Ireland.

CommunityOne CEO stepping down

September 15, 2014

(The Charlotte Observer)

Brian Simpson will step down as CEO of Charlotte-based CommunityOne Bancorp effective Sept. 30 after three years in the position. President Bob Reid is expected to succeed him. Previously called FNB United Corp., the bank changed its name and moved its headquarters from Asheboro to Charlotte after the 2013 merger between subsidiary CommunityOne Bank and Granite Falls-based Bank of Granite.

Judge approves bankruptcy plan for Mocksville tobacco companies

September 15, 2014

(Winston-Salem Journal)

A U.S. Bankruptcy Court judge approved a liquidation plan for three Mocksville tobacco companies. Renegade Holdings Inc., Renegade Tobacco Co. and Alternative Brands Inc. entered bankruptcy protection in January 2009. Former owner Calvin Phelps began serving a three-year prison term in May after pleading guilty to charges related to avoiding federal surcharges on cigarette sales. 

High-tech job market improves

September 15, 2014

(WRAL TechWire)

The latest jobs report from the N.C. Technology Association shows a slight increase in the number of high-tech job openings in the state. The report says the number of jobs in information technology is expected to grow this fall.

Monroe paving company pleads guilty in fraud case

September 15, 2014

(The Charlotte Observer)

Monroe-based Boggs Paving pleaded guilty to conspiracy to defraud the federal government. CEO Drew Boggs and four company executives have already pleaded guilty in the scheme, in which they exaggerated the role of a minority subcontractor to bilk the government out of $87 million in contracts.

Fayetteville may link chicken-plant incentives to local hiring

September 12, 2014

(The Fayetteville Observer)

Fayetteville City Council may require Sanderson Farms to hire mostly Cumberland County contractors to build its proposed $113 million chicken plant in order for the Mississippi-based company to receive local incentives. The city could also require the poultry producer to hire county residents to fill the majority of its 1,000 jobs.