Business

Ally Financial acquisition will add 100 workers in Charlotte

April 6, 2016

(The Charlotte Observer)

The Detroit-based auto lender is buying TradeKing Group, a Florida-based online brokerage firm, for $275 million in cash. The acquisition will add wealth management to Ally's growing list of services and about 100 people to its Charlotte workforce. Ally CEO Jeff Brown is based in Charlotte, one of the lender's main employment hubs. The company will have about 900 workers in the Queen City when the deal is completed.

MillerCoors layoffs to begin in June

April 6, 2016

(Winston-Salem Journal)

MillerCoors will lay off about 85 workers at its Eden plant on June 3, with more layoffs planned over the summer, according to a notice filed with the state Commerce Department. Last month, N.C. Attorney General Roy Cooper called for an investigation into the timeline of the company's decision to close the plant, which could idle more than 500 workers.

BofA names new treasurer

April 6, 2016

(The Charlotte Observer)

Bank of America named Andrei Magasiner treasurer, replacing Greg Hackworth who is retiring after two decades with the company. Magasiner is the chief financial officer of investment banking and trading divisions and is based in New York.

Massive Pender County development could launch soon

April 5, 2016

(StarNews, Wilmington)

Construction could begin in late April on Blake Farm, a 1,300-acre mixed-use development in Pender County. The project will be built in phases and could take 10 years to build out. Plans call for 2,200 residential units and about 50 acres of commercial development, including a YMCA and events center.

McConnell Golf leases Raleigh public course

April 5, 2016

(The News & Observer, Raleigh)

McConnell Golf signed a 10-year lease to operate the Raleigh Golf Association, marking the company's first affiliation with a public golf course. Raleigh-based McConnell owns a dozen private courses in the Carolinas and Tennessee. The 27-hole RGA is the second-oldest course in the Raleigh area. Prices start at $15 for nine holes after 3 p.m. on weekdays.

Xerox cutting 139 Triangle area jobs

April 5, 2016

(The News & Observer, Raleigh)

After announcing in January it was cutting 178 jobs at a Cary call center, Xerox says it is laying off 139 workers at its health care services business in Henderson. Most of the affected employees are pharmacy technicians.

Charlotte's Jeld-Wen could go public in the second quarter

April 5, 2016

(The Charlotte Observer)

Door- and window-maker Jeld-Wen Inc. is planning an initial public offering as early as the second quarter, according to people familiar with the matter. The IPO could raise about $500 million, valuing the company at about $5 billion. Jeld-Wen moved its headquarters from Oregon to Charlotte in 2012.

Another western NC economic recruiter disbands

April 5, 2016

(Asheville Citizen-Times)

The Smoky Mountain Development Corp. is disbanding due to a revenue shortfall. The organization was founded in 1984 and serves 10 counties in western N.C. Executive Director Alan Steinberg says the group's revenue has declined due to fewer businesses in the region obtaining 504 loans, which help small companies buy properties.

BB&T buys National Penn for $1.8B

April 5, 2016

(Winston-Salem Journal)

BB&T has completed its $1.8 billion purchase of National Penn Bancshares, increasing the Winston-Salem-based bank's assets to about $220 billion. It could be the BB&T's last acquisition for a while: Banks face more stringent regulatory requirements when they reach $250 billion in assets. BB&T also closed Friday on a $500 million deal to buy wholesale insurance broker Swett & Crawford.

Lincoln Harris closes on downtown Charlotte property for $11M

April 5, 2016

(The Charlotte Observer)

Lincoln Harris closed on the first part of the Charlotte Observer's downtown site, which includes a parking deck, loading dock and warehouse. The Charlotte real-estate firm is scheduled to close on the remainder of the 9.4-acre property by May 2. The Observer is moving to offices in the NASCAR Plaza tower formerly occupied by Chiquita.