Business

New economic-development agency proposed for Guilford

December 18, 2014

(News & Record, Greensboro)

Officials from Guilford County, High Point and Greensboro are considering establishing a new, countywide economic-development group for recruiting business to the area. Greensboro and High Point currently have separate job-recruiting agencies.

Cary's The Pantry nearing deal to be sold

December 17, 2014

(The Wall Street Journal)

Cary-based The Pantry, which operates more than 1,500 convenience stores primarily under the Kangaroo Express banner, has hired an investment bank to solicit bids for the company. A buyer could be announced within days, according to people familiar with the matter.

Two pension funds in talks with BofA over Moynihan's dual roles

December 17, 2014

(The Charlotte Observer)

The California State Teachers' Retirement System and the office of the New York City Comptroller confirmed they are in discussions with Bank of America regarding the bank's decision to change its bylaws – and name CEO Brian Moynihan chairman – without a shareholder vote.

Salix announces revised inventory-reduction schedule

December 17, 2014

(The News & Observer, Raleigh)

Salix Pharmaceuticals announced it will accelerate a planned inventory reduction of three of its drugs. The Raleigh-based pharmaceutical, which makes treatments for gastrointestinal illnesses, will reduce inventories of three drugs by the end of 2015 – a year earlier than it had previously announced. Company shares rose 7% following the announcement.

Advocacy group says Duke building too many power plants

December 17, 2014

(The Charlotte Observer)

Durham-based environmental advocacy group NC WARN says Duke Energy and other utilities are wasting billions of dollars by building too many power plants. Duke responded by saying that WARN is criticizing the company for replacing its coal-fired plants with cleaner natural-gas fired and solar ones.

Cone Health reorganizes senior officials

December 17, 2014

(Winston-Salem Journal)

Greensboro-based Cone Health has reorganized its top leadership roles, giving some of its senior officials new titles. Executive Vice President Judy Schanel will become chief operating officer and Chief Medical Officer Mary Jo Cagle will become chief clinical officer.

Developers reject proposal to reroute pipeline in Johnston Co.

December 17, 2014

(The News & Observer, Raleigh)

Developers of the 538-mile Atlantic Coast Pipeline denied a request by Johnston County officials to reroute the proposed pipeline closer to an industrial park. The new route would have crossed 239 parcels instead of 163. Richmond-based Dominion Resources is developing the natural-gas pipeline in a joint venture with Duke Energy, Piedmont Natural Gas and Atlanta-based AGL Resources.

Piedmont Natural Gas requests rate reduction

December 17, 2014

(Winston-Salem Journal)

Charlotte-based Piedmont Natural Gas filed for a 5% rate reduction in the Carolinas that could save customers about $5 a month during January, February and March. If approved by the states' utilities commissions, the new rates will go into effect Jan. 1.

Catawba Brewing set to build Asheville brewery

December 17, 2014

(Asheville Citizen-Times)

Catawba Brewing will begin construction next week on a 5,400-square-foot Asheville brewery that will include a seven-barrel system, two bars and a courtyard. The Morganton-based brewer will keep its tasting room in Biltmore Village after the South Slope brewery opens, which is expected to be by spring.

Asheville's HomeTrust Bank names new Charlotte leader

December 17, 2014

(The Charlotte Observer)

HomeTrust Bank hired Jeff Mylton to lead the Asheville-based bank's expansion in Charlotte. Mylton comes from Fifth Third Bank. HomeTrust entered the Charlotte market this summer when it acquired Charlotte-based Bank of Commerce for about $10 million.