Business

Report: Mercedes-Benz USA looking to move HQ to NC or Georgia

December 19, 2014

(The News & Observer, Raleigh)

Mercedes-Benz USA is considering moving its corporate headquarters to North Carolina or Georgia, according to a report in the Wall Street Journal. The automaker employs about 1,000 people at its headquarters in Montvale, N.J., where it has been based since 1972. 

Canadian chain to buy The Pantry for $860M

December 19, 2014

(The News & Observer, Raleigh)

Canada-based Alimentation Couche-Tard, which operates in the U.S. mostly as Circle K, will acquire The Pantry in a deal that, including The Pantry's debt, is valued at $1.7 billion. Cary-based Pantry operates 1,513 convenience stores – most under the Kangaroo Express banner – in 13 Southeastern states.

Durham's Phononic raises $44.5 million

December 19, 2014

(The News & Observer, Raleigh)

Durham-based Phononic raised $44.5 million in venture-capital funding. The company sells energy-efficient cooling and refrigeration products that are made in Durham. Phononic plans to use the proceeds to increase manufacturing and for sales and marketing. It's the largest round of venture-capital funding raised by a Triangle company this year. 

Google delays high-speed fiber announcement

December 19, 2014

(The Charlotte Observer)

Mountain View-Calif.-based Google has delayed an announcement on whether it will bring its high-speed fiber network to Charlotte and eight other cities. The technology company says it will provide more information early next year.

Wilmington considers business district tax

December 19, 2014

(StarNews, Wilmington)

Wilmington Downtown Inc. is mulling the creation of a downtown business district that would be taxed higher than other parts of the city to pay for improvements to the area.

NC Medicaid expansion has big benefits, study says

December 19, 2014

North Carolina could add 43,000 jobs and boost the economy by more than $10 billion by 2020 if the state expands Medicaid eligibility, according to a report by researchers at George Washington University.

Hickory loses golf tournament in 2015

December 19, 2014

(The Charlotte Observer)

The 2015 PGA Champions Tour has replaced the Greater Hickory Classic at Rock Barn Golf & Spa with a tournament in San Antonio, Texas. The tournament was unable to line up enough sponsors.

Pantry stock soars amid rumors of sale

December 18, 2014

(The Charlotte Observer)

Shares of The Pantry rose 23% on Wednesday following a Wall Street Journal report that the company was close to being sold. The Cary-based company operates about 1,500 convenience stores in thirteen states, mostly under the Kangaroo Express brand. The Pantry reported fourth-quarter profits of $15.4 million, compared with $1.4 million for the same period a year ago.

RTP to unveil redevelopment site plan Jan. 15

December 18, 2014

(WRAL TechWire)

The Research Triangle Park Foundation will unveil the first phase of its 100-acre redevelopment project it says could eventually create 100,000 jobs. RTP describes "The Frontier" as " the Triangle's newest meeting spot for those looking for a place to plug in, or a new office location."

Morgan stepping down as executive chairman of Krispy Kreme

December 18, 2014

(Winston-Salem Journal)

Jim Morgan will remain chairman of Winston-Salem-based Krispy Kreme Doughnuts, though in a non-executive role as of Jan. 29. He was chief executive of the Winston-Salem-based company from January 2008 until June 2014, when Tony Thompson became CEO and president (Statewide, December).