Business

Brunswick to buy land once owned by leader

November 26, 2014

(The Star News, Wilmington)

Brunswick County plans to purchase 35 acres of waterfront property that was once partly owned by its board chairman, Phil Norris. The $3.5 million deal will close on Dec. 12. It was set up by Norris, who says he took a minimal role after suggesting the property to the parks and recreation department who were looking for land for a waterfront park. Independent appraisers value the land at more than $7.7 million. 

Greensboro developer plans spec building

November 26, 2014

(The News & Record, Greensboro)

Developer Simpson Schulman & Beard announced plans to build a 200,000-square-foot industrial building on a site at Rock Creek Dairy Road and Franz Warner Parkway in Rock Creek Center in eastern Guilford County. The site, which has no planned tenant, would provide more space for the nearly full business park.

Fayetteville hotel goes to auction in December

November 26, 2014

(The Fayetteville Observer)

The Prince Charles Hotel, opened in 1925 in downtown Fayetteville, will be sold to the highest bidder in an online auction scheduled for Dec. 10-15. The minimum bid for the bankrupt historic property is set at $200,000; the current owner bought the hotel and some adjacent property in 2007 for $1.9 million. The adjacent property is not included in the auction. At its height, the hotel hosted wedding receptions, political functions and other gatherings in its top-floor ballroom.

Catholic charity organization asks BofA to split CEO, chairman roles

November 25, 2014

(The Charlotte Observer)

Citing concern over Bank of America's continuing penalties and settlements, New Jersey-based Sisters of Charity of St. Elizabeth asked the Charlotte-based bank to reverse its decision to name CEO Brian Moynihan chairman. The shareholder joins the California State Teachers' Retirement System and New York City Comptroller Scott Stringer in calling for the bank to separate the leadership roles.

RF Micro to complete TriQuint acquisition Dec. 31

November 25, 2014

(News & Record, Greensboro)

Greensboro-based RF Micro Devices will complete its $1.6 billion acquisition of Hillsboro, Ore.-based TriQuint Semiconductor on Dec. 31. In a joint release, the two chipmakers said they have received shareholder and regulatory approval for the merger and the new company, named Qorvo, will begin trading on the NASDAQ stock exchange on Jan. 2, 2015.

Charlotte Checkers want $4M renovation of Bojangles' Coliseum

November 25, 2014

(The Charlotte Observer)

The Charlotte Checkers will return to Bojangles' Coliseum in 2015-16 if the city agrees to spend $16 million in renovations. That's $4 million more than the city had already planned to spend on coliseum upgrades, and an agreement would represent the first time public funds have subsidized the minor-league hockey team, which has played at uptown's Time Warner Cable Arena since 2005.

Pittsboro leaders hear amended Chatham Park plan

November 25, 2014

(The News & Observer, Raleigh)

A standing-room only crowd attended a meeting of the Pittsboro Board of Commissioners Monday night where the group discussed a revised master plan for the 7,000-acre Chatham Park development. The latest version of the plan adds 47 acres and tweaks the language in the proposal that was approved by Pittsboro in June.

McConnell Golf to acquire Country Club of Asheville

November 25, 2014

(The News & Observer, Raleigh)

Raleigh-based McConnell Golf will acquire The Country Club of Asheville – North Carolina's oldest private country club – for an undisclosed amount. When the deal closes, McConnell Golf will own ten golf clubs in the Carolinas. The company acquired Greenville's Brook Valley Country Club last month. 

Wilmington's Cucalorus film festival sets attendance record

November 25, 2014

(Greater Wilmington Business Journal)

For the second year in a row, MovieMaker Magazine named Wilmington's Cucalorus film festival, which was held Nov. 12-16, among the top 25 Coolest Film Festivals in the World. Started in 1994, the festival attracted 15,743 attendees in 2014, an increase of 7% over last year, and screened 241 films.

Syngenta restructures; 1,800 jobs affected worldwide

November 25, 2014

(The News & Observer, Raleigh)

Syngenta will eliminate or relocate 1,800 jobs – about 6% of its workforce – worldwide in a restructuring, though the Swiss company hasn't said if its 400 jobs in Research Triangle Park and more than 760 in Greensboro will be affected. The agribusiness announced in 2013 a $94 million expansion at its biotechnology campus in RTP ("Human Nature," November 2013)