Business

Raleigh developer Kane tweaks tower proposal

August 7, 2015

(The News & Observer, Raleigh)

Kane Realty revised plans for a proposed $150 million mixed-use project in downtown Raleigh's warehouse district. The new plans call for a 17-story tower along with a smaller nine-story building and would prohibit bars – defined by the city as businesses that earn 70% of profits from alcohol sales.

HAECO eager to expand, waiting on permits

August 7, 2015

(News & Record, Greensboro)

HAECO Americas, formerly Timco Aviation, is awaiting state and federal permits to build a new, 180,000-square-foot hangar near Piedmont Triad International Airport. The company plans to add 400 jobs to its existing 1,600 when the expansion is complete.

Wilmington's Chiltern to buy Pennsylvania-based CRO

August 7, 2015

(WRAL TechWire)

Chiltern, a contract-research organization based in Wilmington and London, will acquire King of Prussia, Pa.-based Theorem Clinical Research for an undisclosed amount.

ZeekRewards receiver releases another $89M

August 7, 2015

(Winston-Salem Journal)

Ken Bell, the court-appointed receiver in the ZeekRewards.com case, issued 112,734 checks totaling $89.2 million to victims of the Lexington-based Ponzi scheme, bringing total distributions to $246.05 million. Another distribution is planned for Oct. 31.

BofA shuffles downtown Charlotte workers

August 7, 2015

(The Charlotte Observer)

Bank of America says no workers will be laid off when it vacates four floors – about 85,000 square feet – of 101 Independence Center in downtown Charlotte. The bank says displaced workers will move to other downtown offices. BofA will still be the anchor tenant of the 20-story office building.

Wos steps down; former LipoScience CEO to lead DHHS

August 6, 2015

(The News & Observer, Raleigh)

Rick Brajer, former CEO of Raleigh-based LipoScience, will replace Aldona Wos as secretary of the N.C. Department of Health and Human Services. Wos, who has been criticized for hiring decisions and the troubled rollout of two software programs, resigned a day after the agency announced a $131 million Medicaid budget surplus.

Investor says Asheville Savings Bank should put itself up for sale

August 6, 2015

(Asheville Citizen-Times)

New York-based Firefly Value Partners is asking ASB Bancorp, parent company of Asheville Savings Bank, to begin the process of selling the bank. The New York-based investor, which owns a 9.6% stake in ASB, says the company is too small to earn "adequate returns."

FCC funds help Windstream expand rural broadband in NC

August 6, 2015

(News & Record, Greensboro)

Windstream will receive almost $2 million from the Federal Communications Commission to extend its broadband network to 6,988 rural homes and businesses in North Carolina.

Closure of Ex-Im Bank could impact GE operations in Wilmington

August 6, 2015

(StarNews, Wilmington)

Some of the work scheduled to be completed at GE Hitachi and GE Aviation Wilmington could move overseas if the U.S. Export-Import Bank is not renewed. Future expansions are also at risk; the company is likely to grow in countries that support government supported credit agencies such as the Ex-Im Bank.

Charlotte office tower to break ground Aug. 14

August 6, 2015

(The Charlotte Observer)

Portman Holdings and Trinity Partners will break ground Aug. 14 on a 19-story office tower next to the Westin hotel in downtown Charlotte. Construction on the 370,000-square-foot building, named 615 South College, is expected to be complete by late 2016.
More Charlotte development: Waverly breaks ground; 90-acre mixed-use development is 50% pre-leased