Business

Durham's Scynexis lowers expectations for IPO

April 4, 2014

(The News & Observer, Raleigh)

Durham drug-development firm Scynexis expects shares to sell for $7 to $8 in its initial public offering, lower than its original target of $12 to $14, and plans to sell 7.3 million shares, up from 4.2 million. Share are expected to begin trading Friday.

Duke Energy to appeal court ruling in coal-ash case

April 4, 2014

(The News & Observer, Raleigh)

Duke Energy will appeal a Superior Court ruling that required the utility to immediately stop the source of coal-ash pollution. A Wake County Superior Court judge issued the order on March 6. Also, the N.C. Environmental Review Commission has scheduled a special meeting to discuss coal ash prior to the General Assembly's short session which begins in May.

Co-founder leaves CertusBank amid shareholder concerns

April 4, 2014

(The Charlotte Observer)

Charlie Williams, co-founder and former co-CEO of Greenville, S.C.-based CertusBank has left the company as shareholders have begun to question extravagant expenses including corporate condos, private jets and tickets to sporting events while the privately-owned bank reported deep losses.

Stanley Furniture closing Robbinsville plant, laying off 400 workers

April 3, 2014

(Asheville Citizen-Times)

High Point-based Stanley Furniture will close its manufacturing plant in Graham County, laying off 400 employees. The plant closing essentially ends domestic production for the company, which will keep just 95 workers at assembly and warehouse operations in Virginia.

Family Dollar lays off 135 at Matthews headquarters

April 3, 2014

(The Charlotte Observer)

Family Dollar will lay off 135 workers at its Matthews headquarters, 6% of its workforce there. Competitors including Dollar General and Dollar Tree have outperformed the discount retailer in the past few years, and Chief Operating Officer Michael Bloom resigned in January. The company plans to report fourth quarter and yearly earnings next Thursday.

Chairman of NC Ports Authority resigns

April 3, 2014

(Greater Wilmington Business Journal)

In a letter to Gov. Pat McCrory earlier this week, Danny McComas resigned as chairman of the North Carolina Ports Authority. He has served as chairman of the board since his appointment in 2012; his term was to expire in 2016. McComas did not give a reason for his resignation. The Ports Authority named Paul Cozza its new executive director last week.

Greensboro's top business recruiter to retire

April 3, 2014

(The News & Record, Greensboro)

Dan Lynch is retiring as president of the Greensboro Economic Development Alliance after 10 years with the recruiting organization. Lynch has been criticized recently for not bringing enough industry to the area post-recession.

Raleigh bids $38 million for Dix property

April 3, 2014

(The News & Observer, Raleigh)

Raleigh leaders have offered the state $38 million for the 308-acre Dorothea Dix property where it hopes to build a city park. The city would lease back a 40-acre section of the land to the state for $1 a year to house offices for the Department of Health and Human Services.

Wells Fargo to get new CFO

April 3, 2014

(Winston-Salem Journal)

John Shrewsbury, head of Wells Fargo Securities, will become the San Francisco-based bank's chief financial officer. Timothy Sloan, current CFO, will lead the bank's wholesale banking division, replacing David Hoyt who is retiring. 

 

 

 

Air Force outlines reasons for closing Fort Bragg's 440th Airlift Wing

April 3, 2014

(The Fayetteville Observer)

Air Force officials provided details about its decision to deactivate Fort Bragg's 440th Airlift Wing as part of its 2015 budget proposal, saying moving the unit to Little Rock Air Force Base will save it 600 positions. The deactivation would eliminate more than 1,400 jobs at Fort Bragg's Pope Field.