Business

Truslow to become CFO of Charlotte's Park Sterling

February 8, 2016

(The Charlotte Observer)

Don Truslow, former chief risk officer at Wachovia until his retirement from the company in 2008, will become chief financial officer of Park Sterling Bank, replacing David Gaines, who is leaving at the end of March. Truslow most recently was a senior adviser at Deloitte & Touche.

Mark Cuban bets on Southern Pines retailer

February 8, 2016

(The Pilot, Southern Pines)

R. Riveter, a Southern Pines-based handbag company started by two military wives, snagged a $100,000 investment from Texas billionaire Mark Cuban on ABC's Shark Tank. The national TV exposure alone could boost business for the small retailer: Producers told the company to expect 100,000 website hits when the show aired Friday.

Nationwide drops Durham ad agency

February 8, 2016

(The News & Observer, Raleigh)

Nationwide has dropped Durham-based McKinney after a seven-year partnership. McKinney CEO Brad Brinegar said losing the Ohio-based insurer — one of the ad agency's larger clients — will trigger some layoffs though he said it's too early to say how many jobs will be impacted.

HanesBrands' dive an omen for Panthers' loss?

February 8, 2016

The Panthers weren't the only iconic Tar Heel company to have a bad weekend. HanesBrands shares declined 15% on Friday after the company's earnings and sales missed expectations. Executives blamed warm weather for stunting apparel sales.

DOT: Work on Charlotte's Independence could resume in March

February 8, 2016

(The Charlotte Observer)

Construction to widen Charlotte's Independence Boulevard could resume by the end of March, according to the N.C. Department of Tranportation. Michigan-based contractor DeVere stopped working on the project last week due to a financial dispute with the state.

Tony Zeiss, president of CPCC, to retire

February 5, 2016

(The Charlotte Observer)

Longtime Central Piedmont Community College President Tony Zeiss said Thursday he will retire in July. Zeiss, 70, has led the Charlotte college since 1992. During his tenure, enrollment soared to 70,000 students and the school grew from one campus to six.

Amazon rolls out one-hour delivery service in Raleigh

February 5, 2016

(The News & Observer, Raleigh)

For just $7.99, Amazon Prime members in Raleigh can have their orders delivered within an hour; two-hour delivery is free. Raleigh is among 25 cities where the e-commerce retailer now offers the expedited service. The Prime loyalty program costs $99 a year.

Carolinas HealthCare CEO earns 26% more in 2015

February 5, 2016

(The Charlotte Observer)

Michael Tarwater, CEO of Charlotte-based Carolinas HealthCare System, received $6.6 million in total compensation in 2015 compared with $5.3 million the previous year. A company spokeswoman said part of the increase is related to Tarwater's pending retirement in June. He has worked for the $8 billion hospital system for 35 years.

Asheville awaits brewery announcement

February 5, 2016

(Asheville Citizen-Times)

Deschutes Brewery will announce in about a month where it plans to build its East Coast brewery. The Bend, Ore.-based beer company is believed to be considering Asheville; Roanoke, Va.; and Charleston and Greenville, S.C. The brewery would create 100 jobs and is expected to become a tourist destination similar to Sierra Nevada's Mills River brewery.

Southern Pines retailer to appear on ABC's Shark Tank

February 5, 2016

(The Pilot, Southern Pines)

R. Riveter, a retailer of handbags and accessories in Southern Pines, will pitch their business to investors on ABC's Shark Tank Friday night at 9 p.m. Co-founders Cameron Cruse and Lisa Bradley, both military spouses, started the company in Cruse's attic making handbags out of recycled military materials. The company now employs 12 people and 12 contractors.