Business
Lowe's plans to acquire West Coast hardware chain
June 18, 2013
(The Charlotte Observer)
Mooresville-based home-improvement retailer Lowe's has made a $205 million bid to acquire at least 60 of San Jose, Calif.-based Orchard Supply Hardware's 91 stores. The Sears spinoff filed for Chapter 11 bankruptcy, and its real estate would help Lowe's gain a better foothold in the recovering California market.
FedEx Ground expanding Kernersville shipping hub
June 18, 2013
(News & Record, Greensboro)
FedEx Ground plans to add 83,000 square feet to its 400,000-square-foot shipping hub in Kernersville, though the Pittsburgh-based company didn't disclose how many workers will be added to its 570. The project is expected to be completed by spring 2015.
WakeMed, physicians group forming partnership to improve care
June 18, 2013
(The News & Observer, Raleigh)
WakeMed Health & Hospitals will partner with Key Physicians to form an Accountable Care Organization, a group that works with Medicare patients to ensure they are staying well after being discharged from hospitals. The ACO will cost about $2 million during its first three years.
Piper Jaffray purchasing Charlotte investment bank
June 18, 2013
(The Charlotte Observer)
Minnesota-based investment bank Piper Jaffray will purchase Charlotte-based middle-market investment bank Edgeview Partners for an undisclosed amount. The deal is expected to close in the third quarter.
Southern Pines man accused of defrauding clients of $6M
June 18, 2013
(The Fayetteville Observer)
James Alexander Shepherd, a Southern Pines investment-fund owner, defrauded clients of $6 million since 2006, according to federal prosecutors. He is expected to plead guilty of one count of securities fraud.
Cramer Mountain Country Club faces uncertain future
June 18, 2013
(The Gaston Gazette)
The Cramer Mountain Country Club near Gastonia is officially out of foreclosure and on the market, but it faces a rocky road to a potential sale. Its sister property and eatery, The City Club, is also up for sale.
Publix may be planning Cornelius store
June 18, 2013
(The Charlotte Observer)
Florida grocer Publix is planning a Cornelis grocery store, according to several merchants who say they will be displaced by the project. The chain is aggressively expanding into the Charlotte market, with two stores already in the works and two opened in nearby South Carolina.
Pepsi bottler acquiring five-county Charlotte rights
June 18, 2013
(The Charlotte Observer)
Raleigh-based Pepsi Bottling Ventures has closed its deal that will give it five Charlotte region counties, including Mecklenburg, in exchange for 11 counties in Vermont and 18 in Idaho. What changes the 200 acquired employees will see is still unclear.
Rural Center often doesn't deliver on job promises
June 17, 2013
(The News & Observer, Raleigh)
The N.C. Rural Economic Development Center has claimed to create jobs in the state that often don't develop or go to help larger companies such as WalMart. Lawmakers are considering cutting money to the private nonprofit as part of the upcoming proposed budget.
Mission Hospital wants $350M new building
June 17, 2013
(Asheville Citizen-Times)
Asheville's Mission Hospital is gearing up for a major transformation, proposing a new $350 million tower that could consolidate its two campuses in the city. The initial goal is to complete the project within four years.
