Business

Wilmington's DryCase expands product line through licensing agreement

November 3, 2014

(Greater Wilmington Business Journal)

DryCase, a division of Wilmington-based DryCorp., is producing a new product line that will allow it to expand its offerings in sporting-goods and outdoor retailers. The company is partnering with Mossy Oak, a company that develops camouflage patterns for hunters, to produce waterproof packs.
Click here to read more about DryCorp., Business North Carolina's 2013 Small Business of the Year

Blue Cross Blue Shield sends 42,000 incorrect renewal notices

October 31, 2014

(The News & Observer, Raleigh)

The state's largest health insurer mailed out about 42,000 policy renewal letters with incorrect rates. Some Blue Cross Blue Shield customers received notices showing cost increases of more than 100%. A company spokeswoman said the mistake was due to "good old classic human error."

Food Lion gets third president in less than two years

October 31, 2014

(The Charlotte Observer)

Food Lion President Beth Newlands Campbell is resigning this week, citing personal and professional reasons. She has held the position since December 2012. Meg Ham, president of Bottom Dollar Food, will replace her. Both Food Lion and Bottom Dollar are Salisbury-based subsidiaries of Brussels-based Delhaize Group.

Lenovo completes acquisition of Motorola smartphone business

October 31, 2014

(The News & Observer, Raleigh)

Lenovo is now the world's No. 3 smartphone company after completing its $2.91 billion acquistion of Google-owned Motorola Mobility. Chicago-based Motorola will operate as a subsidiary of Beijing-based Lenovo, which has its North American headquarters in Morrisville.

Former BofA chairman takes leadership role at Shell

October 31, 2014

(The Charlotte Observer)

Chad Holliday, chairman of Bank of America from 2010 until CEO Brian Moynihan replaced him earlier this month, will become chairman of gas company Royal Dutch Shell next year. Holliday will continue to serve on the Charlotte-based bank's board.

Harnett Health trustees approve management agreement with Fayetteville's Cape Fear Valley

October 31, 2014

(The Fayetteville Observer)

The Harnett Health board of trustees has decided to enter into a management agreement with Cape Fear Valley Health System. The Fayetteville-based health system could assume management of Dunn-based Harnett Health and its two hospitals by next week. Dan Weatherly, president of Cape Fear Valley Bladen Health, will become president of Harnett Health.

Ruger profits down 76% due to decreased demand for firearms

October 31, 2014

(Winston-Salem Journal)

Southport, Conn.-based Sturm, Ruger & Co. reported a 76.3% decrease in net income in the third quarter due to a sharp drop in firearms sales. The gun-maker plans to create 473 jobs at its Mayodan plant, though decreasing demand for its products could force it to scale back expansion plans.

 

Chimerix plans secondary stock offering

October 31, 2014

(The News & Observer, Raleigh)

Chimerix looks to raise $105 million in a public stock offering. The Durham-based drug developer raised $118 in its initial public offering in April 2013. The company plans to use about $52 million of the proceeds to finance clinical trials for brincidofovir, an antiviral drug being tested as a treatment for viruses including Ebola and small pox.

Official: Gaston needs more shell buildings to attract industry

October 31, 2014

(The Gaston Gazette)

Donny Hicks, director of economic development for Gaston County, thinks the county needs more spec buildings to attract new business. He says the area has fewer buildings available than at any time in the past 30 years, while shell structures are going up in neighboring counties.

Heritage Home Group shifting production jobs to Lenoir

October 31, 2014

(Winston-Salem Journal)

Heritage Home Group will move operations from a leased production plant in Hickory to a company-owned plant in Lenoir. All 255 employees at the Hickory plant will be offered jobs at the Lenoir plant.