Business
Charlotte's large companies stash cash overseas
May 30, 2013
(The Charlotte Observer)
Charlotte's largest companies are storing $22 billion in earnings overseas, a practice that recently came under increased scrutiny because of tech giant Apple's practices. It would cost the companies $5 billion in taxes to bring those earnings back to the U.S.
Food Lion parent shaking up grocery store business
May 30, 2013
(The Charlotte Observer)
Belgian grocer Delhaize, the parent of Salisbury-based Food Lion, is shaking up its U.S. grocery store business, selling its Harveys, Sweetbay and Reid’s banners to rival Bi-Lo for $265 million. Harveys and Reid's are also based in Salisbury, but what the impact would be on jobs was not immediately clear.
New Belgium pushes back timeline for Asheville brewery
May 30, 2013
(Asheville Citizen-Times)
New Belgium Brewing Co. has pushed back construction of its East Coast brewery in Asheville by eight months because of new capacity at its Fort Collins brewery. The $175 million project is expected to be completed now by late 2015 or early 2016.
GE Aviation considers expansion in New Hanover
May 30, 2013
(StarNews, Wilmington)
New Hanover commissioners will consider giving aircraft engine manufacturer GE Aviation more than $800,000 in incentives in exchange for the company investing $63 million and adding 35 jobs. The plant in Castle Hayne employs 600.
Alcoa could sell Yadkin River hydro license
May 30, 2013
(The Charlotte Observer)
A transaction by Alcoa last year has raised questions of whether it is seeking a renewal of its Yadkin River hydro license just to flip the asset for a profit.
Ports Authority OKs wood-pellet plant in Wilmington
May 30, 2013
(StarNews, Wilmington)
The state Ports Authority approved lease and operating agreements for a proposed wood-pellet handling facility at the Port of Wilmington, but the plan still must be approved by the Council of State because it involves leasing state land.
Consultants: Maggie Valley needs to spruce up image
May 30, 2013
(Smoky Mountain News)
A consultant hired to evaluate Maggie Valley's tourism climate told the town its aesthetics have not kept up with what visitors want. The report is part of an effort by the town to reimagine its business identity after declining for several years.
Report: North Carolinians below average in 'financial capability'
May 30, 2013
(The Charlotte Observer)
North Carolinians are below the national average in "financial capability" -- measured by unpaid medical debt, savings and financial knowledge, according to a report from the Financial Industry Regulatory Authority.
Fresh Market profit beats analyst expectations
May 30, 2013
(Winston-Salem Journal)
Greensboro-based specialty grocer Fresh Market posted a 15% improvement in net income for the first quarter compared to the year before, beating analyst expectations as more customers visited stores and bought more items.
Upscale apartment complex planned for Charlotte
May 30, 2013
(The Charlotte Observer)
Charlotte-based Crescent Communities is proposing a $50 million mixed-use development in the city's Dilworth neighborhood that would include 300 luxury apartments and retail space. The complex is expected to open spring 2015.
