Business

Novant Health reports $191M in excess income

March 30, 2016

(Winston-Salem Journal)

Novant Health earned $191.6 million in excess income — the same as profit for a nonprofit organization — in fiscal 2015, a 5% decrease compared with the previous year. The drop was due to a $60 million loss in the company's investment portfolio. Operating revenue rose 8.9% to $4.13 billion for the Winston-Salem-based health care system, which employs about 24,000 people.

Roy Cooper to address workers at MillerCoors brewery in Eden

March 30, 2016

State Attorney General Roy Cooper will speak to workers outside MillerCoors' brewery in Eden on Wednesday. The workers are protesting the planned closure of the brewery, which will eliminate more than 500 jobs in the town of about 15,000 residents. 

Charlotte skyscraper sells for $284 million

March 30, 2016

(The Charlotte Observer)

A company with ties to a Nevada businessman paid $284 million for One Wells Fargo, the 42-story "jukebox" building in downtown Charlotte that serves as the East Coast headquarters for the San Francisco-based bank and includes a Hilton hotel. It's the largest price ever paid for an office building in North Carolina, according to the CBRE brokers who represented the seller, a joint venture of Starwood Capital and Vision Properties.

Drugmaker Novartis accused of offering kickbacks

March 30, 2016

(WRAL TechWire)

The U.S. Justice Department claims Basel, Switzerland-based Novartis Pharmaceutical Corp. hosted doctors at "sham" educational events that included expensive dinners and trips and, in some cases, made payments to doctors even for events that never took place. The company paid Triangle area doctors nearly $250,000 in 2014, according to the lawsuit.

Loss of Titan plant, offshore drilling affect industrial outlook in eastern NC

March 30, 2016

(StarNews, Wilmington)

President Obama's decision to abandon a plan that would have allowed offshore drilling and Titan America's cancellation of a cement plant in Castle Hayne leave fewer prospects for industrial workers in southeastern N.C.

NC ports see growth in cargo volumes

March 30, 2016

(Greater Wilmington Business Journal)

The Port of Wilmington reported an 8% increase in container cargo volumes in February when compared with the same month a year ago. Container cargo shipments were up 18% for the 2014-15 fiscal year, according to a release Tuesday. The Port of Morehead City also reported a 19% year-over-year increase in tonnage through February.

Wake Forest Innovation Quarter announces $40M project

March 29, 2016

(Winston-Salem Journal)

Wexford Science & Technology plans to begin construction this spring on a $40 million redevelopment of a portion of the Bailey Power Plant at Wake Forest Innovation Quarter in downtown Winston-Salem. The real-estate developer plans 110,800 square feet of office, entertainment and retail space.

Novo Nordisk breaks ground on $1.8B plant in Clayton

March 29, 2016

(WRAL TechWire)

The new facility will produce ingredients for the Danish drugmaker's insulin treatments and will bring 700 jobs with an average annual salary of $68,000 to Clayton. The site is adjacent to Novo Nordisk's existing 20-year-old plant.

Asheville's HomeTrust Bancshares adds 3 directors

March 29, 2016

The holding company for HomeTrust Bank increased the size of its board from 10 to 13 directors, adding Laura Kendall, Richard "Stick" Williams and Robert "Bob" James Jr. Kendall is a managing director at Aurora Management Partners. Williams retired last year after 37 years at Duke Energy, and James, a banking-industry veteran, has worked for Grant Thornton as a senior adviser since 2012.

Eastern NC railroad resumes service

March 29, 2016

(The News & Observer, Raleigh)

The former Carolina Southern railroad is up and running again after a five-year pause. R.J. Corman Railroad Co. bought the 90-mile short-line railroad last year. The line runs between Whiteville in Columbus County and Myrtle Beach, S.C.