Business

NC State's endowment could reach $1B by fiscal year-end

December 1, 2014

(The Charlotte Observer)

N.C. State University's endowment totaled $885 million in June, an increase of $382 million from 2010, and the school is planning a major fundraising campaign that could push the figure past $1 billion by June 2015. Duke University, Wake Forest University and UNC Chapel Hill are the only North Carolina universities where endowments have reached $1 billion. 

Low-impact development underway in Leland

December 1, 2014

(StarNews, Wilmington)

The developer of a 313-acre development on the Cape Fear River plans to use low-impact principles to preserve the local environment. River Bluffs could contain up to 740 homes at buildout; most of the homes in the development's first phase will be priced at $400,000 and up.

CEO of Charlotte's National Gypsum named to Fed board

December 1, 2014

(The Charlotte Observer)

Tom Nelson, CEO of Charlotte-based National Gypsum since 1999, was elected a director of the Federal Reserve Bank of Richmond. Nelson will begin a three-year term as a Class B director in January. He succeeds Marshall Larsen, retired CEO of Goodrich Corp.

Wake Forest School of Business partners with Lowe's Foods

December 1, 2014

(Winston-Salem Journal)

Through a partnership with Winston-Salem-based Lowe's Foods, business students from Wake Forest University are tracking shoppers' habits in 10 of the company's grocery stores. The goal of the program is to give students real-world business-analytics experience while providing the company and manufacturers insight into customers' shopping habits. 

AT&T still committed to high-speed fiber in Triangle

December 1, 2014

(The News & Observer, Raleigh)

AT&T said in a letter to the Federal Communications Commission it still plans to bring its ultra-fast fiber network to 25 metro areas nationwide, including the Triangle. The telecommunications company said last month it had put construction plans for its gigabit Internet network on hold.

Erosion worsens at North Topsail Beach

December 1, 2014

(Jacksonville Daily News)

A weekend storm worsened erosion at the north end of Topsail Island, where the town's building inspector recommended shutting off power to 22 vacation rentals and other structures where conditions could create a fire hazard. 
Related: "Land's End," November

Attorney general appeals utility rate rule

November 26, 2014

(The News & Observer, Raleigh)

North Carolina Attorney General Roy Cooper appealed a state rule Monday that allows water utilities to raise rates without holding public hearings. The rule was approved in May by the N.C. Utilities Commission in a rate case for Cary-based Aqua North Carolina and applies only to private water-and-sewer utilities. The attorney general's office told the N.C. Supreme Court that the rule doesn't give enough consideration to customers.

Charlotte home prices rise in September

November 26, 2014

(The Charlotte Observer)

As home sale prices nationally continued to slow in September, the Charlotte area posted higher year-over-year appreciation compared with August. Prices were 3.3% higher than September a year ago, while August saw a 2.5% annual gain. Dallas was the only other city to post higher gains.

Boone brewery plans to add cider

November 26, 2014

(The Watauga Democrat, Boone)

Boone-based Appalachian Mountain Brewery Inc. is seeking permits to add cider to its operation. The company's CEO says Hard Mountain Cider LLC, a subsidiary of the brewery, already has a winery permit from the federal Alcohol and Tobacco Tax and Trade Bureau to produce hard cider. The cider operation will likely start with three employees, and production could begin by the end of this year.

Brunswick to buy land once owned by leader

November 26, 2014

(The Star News, Wilmington)

Brunswick County plans to purchase 35 acres of waterfront property that was once partly owned by its board chairman, Phil Norris. The $3.5 million deal will close on Dec. 12. It was set up by Norris, who says he took a minimal role after suggesting the property to the parks and recreation department who were looking for land for a waterfront park. Independent appraisers value the land at more than $7.7 million.