Business

Lawyers' bills in Charlotte airport fight total more than $1 million

October 2, 2014

(The Charlotte Observer)

Charlotte has amassed $552,600 in legal fees in its fight to maintain control of Charlotte Douglas International Airport, while the legal tab for the 13-member commission created by the state General Assembly to run the airport is believed to be about $500,000.

Red Hat plans to sell $700 million in convertible notes

October 2, 2014

(The News & Observer, Raleigh)

Raleigh-based Red Hat plans a $700 million offering of convertible notes that will be sold to institutional investors. The software company plans to use up to $400 million of the proceeds to repurchase shares of its common stock, while the rest of the proceeds could be used for general corporate purposes and potential acquisitions. The company has announced three acquisitions this year.

Movie studio project once proposed for Charlotte may be built in SC

October 2, 2014

(The Charlotte Observer)

Studio South, the company that proposed building movie studios at the former Eastland Mall site in Charlotte, is exploring building a similar project on 70 acres in or near Rock Hill, S.C. Charlotte City Council ended talks with Studio South CEO Bert Hesse six months ago, claiming Hesse didn't provide enough detailed information on project costs and financing.

CFO of Greensboro's VF Corp. to retire in 2015

October 2, 2014

(Winston-Salem Journal)

Robert Shearer will retire as senior vice president and chief financial officer of VF Corp. after 28 years with the Greensboro-based apparel manufacturer. Scott Roe, vice president and chief accounting officer, will succeed him.

Babcock & Wilcox may split into two companies

October 2, 2014

(The Charlotte Observer)

Babcock & Wilcox said it is considering a split into two publicly traded companies that would separate its power-generation business from its government and nuclear businesses. The energy company has been based in Charlotte since it was spun off from Houston-based McDermott International in 2010.

Wilmington software company uses "old school principles and new technology" to fuel growth

October 2, 2014

(Greater Wilmington Business Journal)

Wilmington-based Go Energies has grown 16,000% over the past three years, making it the fastest growing company in North Carolina according to the annual Inc. 5000 list of fastest growing private companies in the U.S. The company provides software and data to enable fleet drivers to manage their fuel purchases.

Murdock to give $15M a year to research institute

October 1, 2014

(The Charlotte Observer)

David Murdock, 91, will donate $15 million a year to his namesake research institute at the North Carolina Research Campus in Kannapolis. The chairman of Dole Food said he plans to recruit a world-class scientist to lead the David H. Murdock Research Institute to continue the study of health benefits of diets rich in fruits and vegetables.

BofA to issue debit cards with microchips

October 1, 2014

(The Charlotte Observer)

Bank of America says it will be the first major U.S. bank to issue debit cards with embedded microchip technology. The bank will give the cards to new consumers and small-business customers, while existing customers will receive the new cards when their old debit cards expire. 

Family Dollar affirms plans for Dollar Tree deal

October 1, 2014

(The Charlotte Observer)

In an email to employees Tuesday, Family Dollar Stores said it is proceeding with plans to be acquired by Chesapeake, Va.-based Dollar Tree despite Dollar General's hostile $9.1 billion bid for the Matthews-based retailer.

Biltmore to open second hotel at Asheville estate

October 1, 2014

(Winston-Salem Journal)

The Biltmore Co. plans to begin construction by mid-October on a second hotel at Biltmore Estate. The Village Hotel next to the winery in Antler Hill Village will have 209 guest rooms and is expected to open by November 2015. The project is expected to create about 230 jobs.