Business

Elon Law opens incubator in downtown Greensboro

January 13, 2016

(News & Record, Greensboro)

Four recent graduates of Elon University School of Law have committed to work for 18 months at a new incubator that will offer free or discounted legal services to low-income clients. The attorneys will also have their own solo practices as part of the new venture.

Investment startup could be just what the doctor ordered

January 13, 2016

N.C. Budget Director Lee Roberts left state government last week to join a startup asset management company called SharpVue Capital, whose parent company is Medical Mutual Insurance, the Raleigh-based company that sells medical malpractice insurance to more than 10,000 physicians in 27 states.

Asheville airport adds seasonal service to DC area

January 13, 2016

(Asheville Citizen-Times)

Allegiant Air will begin offering twice weekly flights from Asheville Regional Airport to Baltimore/Washington International, with one-way fares starting at $39. The seasonal flights will operate May 19 through Aug. 16. The airport set a record for passenger traffic last year, with more than 400,000 people boarding flights.

Feds close investigation into Carolinas HealthCare System

January 13, 2016

(The Charlotte Observer)

The U.S. Department of Labor took no action in a long-running case against the Charlotte-based health care system, though it could revisit the case in the future. The investigation centered on MedCost, a for-profit health benefits company owned by CHS. A whistleblower asked the Labor Department to determine whether ownership of the company represented a conflict of interest.

Charlotte City Council backs I-77 toll lanes

January 12, 2016

(The Charlotte Observer)

Council members voted 7-4 to support the $647 million project that will add toll lanes on 26 miles of Interstate 77 in Mecklenburg and Iredell counties. Their vote means the project, already under construction, is likely to continue despite vocal opposition from leaders and residents of several towns in north Mecklenburg.

Live Oak taps former Square 1 exec for COO post

January 12, 2016

(American Banker)

Live Oak Bancshares promoted Greg Thompson to chief operating officer, a newly created position. Thompson was a former executive vice president at Square 1 Bank, a Durham-based niche lender that was acquired by California-based PacWest Bancorp in October. Wilmington-based Live Oak is the nation's second-largest SBA lender, behind only Wells Fargo.

First look at Reynolds Building apartments

January 12, 2016

(Winston-Salem Journal)

The first tenants of The Residences @ the R.J. Reynolds Building will move in in March, according to developer PMC Property Group. The historic 22-story building, the tobacco company's former headquarters, will house a boutique hotel and 117 upscale apartments. Rent starts at $995 a month for a one-bedroom unit.

Raleigh software company bought by Texas private-equity firm

January 12, 2016

(The News & Observer, Raleigh)

Consolidated Asset Recovery Systems was acquired for an undisclosed amount by Greenridge Investment Partners. Consolidated Asset provides Internet-based software that helps lenders manage and sell repossessed property. The company expects to add seven to 10 new employees to its existing 63 in 2016.

Saylor discusses NC Railroad's goal of growing state's economy

January 12, 2016

(Carteret County News-Times)

Scott Saylor, president of the N.C. Railroad Co., talks about the importance of the 165-year-old company and how it hopes buying 875 acres of a Randolph County megasite will help attract an automaker. The state is already home to a number of auto parts suppliers, which he says gives it an advantage.

Federal judge OKs Duke's compliance plans

January 12, 2016

(The News & Observer, Raleigh)

Senior U.S. District Judge Malcolm Howard approved Duke Energy's compliance plans related to a $102 million coal-ash settlement last year. The Charlotte-based utility agreed to pay $68 million in fines and $34 million for environmental projects after pleading guilty to violations of the Clean Water Act.