Business

In Denver, Charlotte leaders find familiar housing concerns, different approach to transit

May 2, 2016

(The Charlotte Observer)

Charlotte city leaders wrapped up a visit to the Mile High City last week, where they discovered another city in the midst of a construction boom, with more than 18,000 apartments built, under construction or planned since 2010. Like Charlotte, Denver leaders expressed concern over having too many rental units and not enough affordable housing. The city's thriving transit system has been aided by a 1-cent sales tax across eight counties; Mecklenburg County has a half-cent transit tax that covers just the county.

Wrightsville Beach solar company files for direct public offering

May 2, 2016

(Greater Wilmington Business Journal)

In an S-1 filing, Koolbridge Solar disclosed plans to make about 2.5 million shares of common stock available to third-party buyers. The company is developing a residential breaker box that uses solar energy during sunny times and pulls power from the electrical grid only when solar energy, either direct or stored, is not available. The company expects its Smart Load Center, which will retail for about $600, to hit the market in the first quarter of 2017.

Caterpillar to shutter Morganton plant, lay off 110 workers

May 2, 2016

(Winston-Salem Journal)

Caterpillar said last week it will close its engine plant in Morganton by the end of 2017, eliminating 110 jobs. The cuts are part of a global restructuring; Caterpillar says sales in construction, oil and gas, mining and rail continued to decline in the first quarter. The company recently reduced its workforce in Winston-Salem and plans to close a plant in Franklin.

First-quarter profit jumps 55% at Charlotte's CommunityOne

May 2, 2016

(The Charlotte Observer)

CommunityOne Bancorp CEO Bob Reid said the bank's pending $350 million acquisition by Capital Bank Financial is expected to close in the second quarter. With about $10 billion in assets, Capital Bank will be the second-largest bank based in the Queen City when the deal closes.

Co-founders of Durham's Bronto Software step down

May 2, 2016

(The News & Observer, Raleigh)

A year after selling Bronto Software to San Mateo, Calif.-based NetSuite for $200 million, Joe Colopy and Chaz Felix have left the email marketing company they co-founded. Carolyn Sparano, who has been with the company for nearly a decade and was most recently vice president of client services, was named general manager. Colopy and Felix say they plan to stay in the Triangle area.

Duke president stepping down in 2017

April 29, 2016

(The News & Observer, Raleigh)

Duke University President Richard Brodhead will take a year's sabbatical then return to teaching and writing. He has led the university for 12 years. During his tenure, he has overseen more than $1 billion in construction projects and the opening of a new campus in China.

Ally's new general counsel to be based in Charlotte

April 29, 2016

(The Charlotte Observer)

Ally Financial named Scott Stengel, 44, its new general counsel. Nearly half of the Detroit-based lender's 16 top executives now will be based in Charlotte. The company's CEO, chief financial officer and chief compliance officer are already based in the Queen City. Stengel replaces William Solomon, who is based in Detroit and is retiring.

Hanesbrands appeases investors with 3-prong strategy

April 29, 2016

(Winston-Salem Journal)

Hanesbrands' shares had fallen to a 52-week low of $23.25 earlier this year, with investors wondering what the Winston-Salem company would do next. On Wednesday, the company announced its largest acquisition to date — it will pay $800 million for Pacific Brands of Australia — and approved a share repurchase authorization for up to 40 million shares. Its board also declared a first-quarter dividend of 11 cents a share.

Report: Ingram stepping down as chairman of Valeant

April 29, 2016

(WRAL TechWire)

Drugmaker Valeant's newly appointed CEO Joseph Papa is expected to assume the role of chairman, The Wall Street Journal reports. Current Chairman Bob Ingram is expected to give up his post as early as Friday. Ingram, a former CEO of Glaxo Wellcome and general partner at Durham-based Hatteras Venture Partners, has been chairman or lead director of the Quebec-based drugmaker since 2010.

Visitor spending on the rise at national parks in NC

April 29, 2016

(Asheville Citizen-Times)

The latest report from the National Park Service shows that 17.8 million visitors spent $1.19 billion in North Carolina in 2015, supporting 19,984 jobs and generating an economic impact of $1.67 billion. The Blue Ridge Parkway is the most popular attraction in the NPS with more than 15 million visitors in 2015.