Business

Final fracking hearing expected to draw more than 500

September 10, 2014

(The Sylva Herald)

Environmental-protection groups predict more than 500 people will attend North Carolina's final public hearing on fracking at Western Carolina University, even though legislators announced last week the state Geological Survey won't test for natural-gas deposits in Western N.C.

Raleigh's PRA Health Services files for initial public offering

September 10, 2014

(The News & Observer, Raleigh)

Raleigh-based PRA Health Services plans to raise as much as $375 million in an initial public offering, according to a company filing with the Securities and Exchange Commission. The world's fourth-largest contract research organization was acquired by private-equity firm Kohlberg Kravis Roberts for $1.4 billion in 2013.

Amazon to open distribution center in Concord

September 10, 2014

(The Charlotte Observer)

Online retailer Amazon plans to open its first distribution center in North Carolina near Concord Regional Airport in Cabarrus County. It is unknown how many jobs will be created or how much space Seattle-based Amazon will occupy, though the company has posted job openings online for the new location.

NC State alters controversial Hofmann Forest sale

September 10, 2014

(The News & Observer, Raleigh)

N.C. State University will now sell 56,000 acres of its research forest near Jacksonville to an Alabama-based investment company that specializes in sustainable timber management. The original buyer, Hofmann Forest LLC, will buy the remaining 23,000 acres.

Boeing order brings more work to GE Aviation plant

September 10, 2014

(StarNews, Wilmington)

Production will increase at GE Aviation's Castle Hayne plant due to an Irish airline's $22 billion order for Boeing planes. Engine parts for the aircraft will be made at the New Hanover County plant. 

Carolinas HealthCare eliminates more than 100 positions

September 10, 2014

(The Charlotte Observer)

Charlotte-based Carolinas HealthCare System has eliminated more than 100 management jobs, all in the Charlotte area. The cuts are part of a plan to reduce expenses by $110 million in 2015. Most of the positions were vacant. CEO Michael Tarwater said federal and state cutbacks in Medicare and Medicaid reimbursements made the cuts necessary.

Asheville gets $14.6 million federal redevelopment grant

September 10, 2014

(Asheville Citizen-Times)

The City of Asheville will receive $14.6 million in federal grant money to help redevelop the River Arts District and other communities.

Floyd promoted to president of Vidant Medical Center

September 10, 2014

(The Daily Reflector, Greenville)

Brian Floyd was named president of Vidant Medical Center effective Oct. 1. Floyd is currently executive vice-president of the Greenville medical center. He will replace Steve Lawler, who will become president emeritus and market leader for Vidant Health before retiring in 2016.

Krispy Kreme reports lower 2Q earnings

September 10, 2014

(Winston-Salem Journal)

Krispy Kreme Doughnuts fells short of analysts' earnings projections in the second quarter, despite a 7% increase in sales to $120.5 million.

BB&T buying The Bank of Kentucky for $363 million

September 9, 2014

(Winston-Salem Journal)

BB&T Corp. will acquire The Bank of Kentucky for $363 million in a cash and stock transaction. Crestview Hills-based Bank of Kentucky has $1.9 billion in assets and 32 branches in northern Kentucky and Cincinnati. Winston-Salem-based BB&T, which operates 82 branches in Kentucky, will move from fourth to second place in market share in the state.