Business

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.

Electrolux CEO says headquarters to remain in Charlotte

September 9, 2014

(The Charlotte Observer)

Electrolux CEO Keith McLoughlin says Electrolux will keep its North American headquarters in Charlotte after its planned $3.3 billion acquisition of General Electric's appliance business, though the mayor of Louisville, Ky. − where GE Appliances is based and employs 6,000 workers − says he will fight to keep jobs there.

Operator of Pisgah Inn gets 10-year contract extension

September 9, 2014

(Asheville Citizen-Times)

Bruce O'Connell has won a contract to operate the Pisgah Inn on the Blue Ridge Parkway until 2025. O'Connell made national headlines when he defiantly kept the 51-room inn open during the federal government shutdown last October. He plans upgrades to the inn's restaurant and gift shops.

Highwoods acquires Raleigh office building for $92.3 million

September 9, 2014

(The News & Observer, Raleigh)

Highwoods Properties acquired the 374,000-square-foot One Bank of America Plaza in downtown Raleigh for $92.3 million. Raleigh-based Highwoods also sold 14 office and industrial buildings in Greensboro to Virginia-based Lingerfelt CommonWealth Partners for $28.2 million. The REIT has sold $158.8 million in assets so far this year.

Chiquita delays merger vote

September 9, 2014

(The Charlotte Observer)

Less than a week after two advisory groups recommended its shareholders vote against a pending merger with Dublin-based Fyffes, Chiquita Brands International postponed the merger vote originally scheduled for Sept. 17 to Oct. 3. Chiquita says it will enter discussions with Cutrale and Safra Group, two Brazilian companies that have offered to buy the Charlotte-based produce company for $611 million.

Coalition forms following pipeline announcement

September 9, 2014

(The News & Observer, Raleigh)

A group of 22 environmental protection groups in Virginia and West Virginia are teaming up following the announcement of a proposed $5 billion natural gas pipeline that will run through both states and eastern North Carolina. 

Charlotte City Council approves $33.5 million for arena upgrades

September 9, 2014

(The Charlotte Observer)

The Charlotte City Council approved spending $33.5 million over 10 years on enhancements to Time Warner Cable Arena, home of the Charlotte Hornets. The team will use the money to renovate restaurants and bathrooms, add seating and make other improvements at the nine-year-old arena. 

WNCT wants to oust WRAL from Greenville, Kinston markets

September 9, 2014

(Kinston Free Press)

Media General, which owns Greenville-based CBS affiliate WNCT, has asked the Federal Communications Commission to remove Raleigh-based WRAL from cable packages offered in Kinston and Greenville.

Electrolux to acquire GE's appliance business for $3.3 billion

September 8, 2014

(WRAL.com)

Electrolux will pay $3.3 billion for General Electric's appliances division. Based in Louisville, Ky., GE's appliance business employs 12,000 people at nine factories. Stockholm, Sweden-based Electrolux, which has its North American headquarters in Charlotte, is the second largest appliance manufacturer in the world, behind Benton Harbor, Mich.-based Whirlpool.

Buncombe could lose hundreds of potential jobs if state doesn't act

September 8, 2014

(Asheville Citizen-Times)

Buncombe County commissioners have approved local incentives for two companies that would bring a total of 450 jobs to the region, but those jobs could be in jeopardy if the state doesn't pass legislation to expand economic-development incentives.