Business

BB&T posts first quarter profit of $501 million, will raise dividend

April 18, 2014

(Winston-Salem Journal)

BB&T reported a profit of $501 million for the first quarter and will raise its quarterly dividend a penny to 24 cents. CEO Kelly King cited strong insurance revenues and commercial loan growth for the profit increase.

Cambro to open plant in Mebane, create 100 jobs

April 18, 2014

(The News & Observer, Raleigh)

Cambro Manufacturing will invest more than $30.4 million in a plant in Mebane and will create 100 jobs over three years. The Huntington Beach, Calif.-based company makes containers and display items for the foodservice industry.

Raleigh tops Forbes list of Best Cities for Raising a Family

April 18, 2014

(Forbes)

Forbes named Raleigh the No. 1 best city to raise a family, citing its quality schools, low crime and high percentage of residents who own homes. Other criteria included median household income, Cost of Living Index and the affordability of housing.

La-Z-Boy to cut 100 jobs in Caldwell, Wilkes counties

April 18, 2014

(Winston-Salem Journal)

Monroe, Mich.-based La-Z-Boy will cut 100 jobs in North Carolina. The Monroe, Mich.-based company will close two warehouses in North Wilkesboro and a wooden-furniture plant in Caldwell County by year-end. It will sell off its youth furniture line to Lea Industries.

Duke has spent $15 million on ash cleanup

April 18, 2014

(The Charlotte Observer)

As of March 31, Duke Energy has spent $15 million to clean up the Feb. 2 coal-ash spill near the Dan River plant in Eden. The Charlotte-based company has said it will pay for all costs associated with the spill, but if it is required to close its 33 ash ponds across the state, costs for those projects will be passed along to customers.

Bowles named CFO of Movement Mortgage

April 18, 2014

(The Charlotte Observer) 

Laura Bowles has been named chief financial officer of Virginia Beach, Va.-based Movement Mortgage, the company founded by former Carolina Panther Casey Crawford. Bowles is the daughter-in-law of former UNC system president Erskine Bowles. About 250 of Movement Mortgage's 1,200 employees are in Charlotte.

Triangle startups raise less money in first quarter

April 18, 2014

(The News & Observer, Raleigh)

Triangle startups raised $32.1 million in the first quarter, down sharply compared with more than $100 million raised in the last quarter of 2013. Seven companies from the area went public last year, which may have contributed to the decline in venture capital raised. Only two companies out of eight companies who raised venture capital in the quarter raised $10 million or more.

Zelnak to step down as chairman at Martin Marietta

April 18, 2014

(The News & Observer, Raleigh)

Stephen Zelnak will step down as chairman of Raleigh-based Martin Marietta Materials on May 22. The former chief executive will continue to serve on the board; CEO Ward Nye will become chairman.

Durham's OrgSpan to be acquired by Indianapolis software company

April 18, 2014

(The News & Observer, Raleigh)

Durham-based business software company OrgSpan will be acquired by Indianapolis-based Interactive Intelligence Group for an undisclosed amount. OrgSpan's 40 employees will remain in Durham after the deal closes, which should be within 30 days.

McCrory announces oversight plan for Duke Energy's ash ponds

April 17, 2014

(The News & Observer, Raleigh)

Gov. Pat McCrory plans to ask state legislators for broader authority over the handling of coal-ash at Duke Energy's 33 ash ponds in North Carolina. McCrory, a former Duke Energy employee, wants site-specific plans that would remove ash from some ponds while leaving others drained and capped and would require more frequent inspections.