Business

Bojangles' 1Q results beat expectations

June 12, 2015

(The Charlotte Observer)

Charlotte-based Bojangles' reported first-quarter adjusted net income of $6.2 million, compared with $5 million a year ago. Revenue increased 19.2% to $114.6 million. The restaurant chain famous for its fried chicken and biscuits raised more than $169 million in its initial public offering in May.

Reidsville's Chinqua Penn sells for $650,000

June 12, 2015

(News & Record, Greensboro)

Greensboro's Mitchell Barnett Properties paid $650,000 for Chinqua Penn Plantation, the historic Reidsville property built in the 1920s that was once owned by the UNC system and was purchased in 2006 by Calvin Phelps, who owned Mocksville-based Renegade Tobacco ("Rise and fall of Renegade," October). The original asking price for the 23-acre property was $1.9 million.

 

President of Kernersville Medical Center steps down

June 12, 2015

(Winston-Salem Journal)

Joanne Allen, president of the 50-bed Kernersville Medical Center, will retire at the end of the year. Chad Setliff will succeed her and also will become president of Clemmons Medical Center and Medical Park Hospital. Setliff also will be chief operating officer at all three hospitals, which are part of Winston-Salem-based Novant Health.

GE holds grand opening for renovated Mebane plant

June 12, 2015

(The News & Observer, Raleigh)

GE Industrial Solutions showed off a new $6 million showroom and renovated labs at its 400,000-square-foot facility in Mebane, where the company employs more than 500 workers. GE makes lighting panels, switchboards and automatic transfer switches at the plant.

 

Durham firm to manage $3B for state pension fund

June 11, 2015

(The News & Observer, Raleigh)

Durham's Piedmont Investment Advisors will manage $3 billion in investments for North Carolina's $90 billion pension fund. The money-management firm also will provide training on managing equity index funds to members of the state treasurer's staff.

Qorvo to replace Lorillard on S&P 500 index

June 11, 2015

(Winston-Salem Journal)

Qorvo, the new company formed as a result of a merger between Greensboro's RF Micro Devices and Oregon-based TriQuint Semiconductor, will be added to the S&P 500, replacing Lorillard. Greensboro-based Lorillard will be taken off the index at the close of trading Thursday; the tobacco company is expected to be acquired by Reynolds American on Friday.

Smithfield Foods executive concerned over changes to renewables policy

June 11, 2015

(The News & Observer, Raleigh)

The chief sustainability officer of Smithfield Foods, which employs about 10,000 people in North Carolina, met with state lawmakers to voice concern over a proposal that would scale back the state's renewable energy program. Dennis Treacy says the pork producer is developing a "manure to energy" program, and he hopes the state's policy will continue to support such projects.
Related: Duke skipping Carolina solar fight as Apple, Google pick sides

Krispy Kreme posts strong 1Q results, beats expectations

June 11, 2015

(Winston-Salem Journal)

Krispy Kreme Doughnuts reported an 8.9% increase in first-quarter revenue to $132.5 million. Net income was up 10.4% compared with the same period a year ago. The Winston-Salem-based company exceeded internal and analysts' projections for the quarter.

Oskar Blues ramps up production at Brevard brewery

June 11, 2015

(Asheville Citizen-Times)

With a 30% increase in annual sales, Oskar Blues Brewery in Brevard will increase capacity from 85,000 barrels to 210,000 barrels. Construction on the project, which includes a 17,000-square-foot building addition and an expanded wastewater treatment building, is expected to be complete in six months.

Chimerix looks to raise $150M in stock offering

June 11, 2015

(The News & Observer, Raleigh)

Chimerix plans to raise up to $150 million in a public stock offering, expected to close on June 16. The Durham-based drug developer plans to use the proceeds for research and development and general corporate purposes.