Business

BofA settles with mortgage company over defective loans

January 6, 2015

(The Charlotte Observer)

Bank of America reached a deal with SecurityNational Mortgage to settle claims that the Utah-based bank sold it defective mortgages. SecurityNational said it has made a settlement payment to Charlotte-based BofA; the amount of the payment was not disclosed. 

Developer to present plan for Greensboro's Friendly and Hobbs site

January 6, 2015

(News & Record, Greensboro)

Despite neighborhood protests, Greensboro city planners recommended rezoning a 6.77-acre tract from residential to retail to accommodate an Atlanta developer's proposal to build a grocery store and other retail shops. Halpern Development will present its plans at a public meeting Tuesday night.

Dominion to host open houses on proposed pipeline

January 6, 2015

(The News & Observer, Raleigh)

Dominion Resources will hold information sessions for landowners in eastern and central N.C. who may be affected by a proposed natural-gas pipeline. This week's open houses will include updated maps showing the route of the 550-mile pipeline, which will run from West Virginia to southeastern N.C.

Lenovo introduces new ThinkPad products

January 6, 2015

(The News & Observer, Raleigh)

To commemorate the sale of its 100 millionth ThinkPad computer, Lenovo is introducing new ThinkPad products, including a third-generation X1 Carbon laptop that will go on sale later this month.

Family Dollar CEO urges stockholders to support Dollar Tree deal

January 5, 2015

(The Charlotte Observer)

CEO Howard Levine once again urged Family Dollar Stores shareholders to back an $8.5 billion sale of the company to Chesapeake, Va.-based Dollar Tree. In a letter sent to stockholders on Friday, Levine said Dollar General's competing $9.1 billion bid is unlikely to be completed due to antitrust concerns. The Matthews-based retailer delayed a stockholder vote on the sale until Jan. 22.

Downtown redevelopment project could cost Wilmington $20M

January 5, 2015

(StarNews, Wilmington)

The city of Wilmington could have to pay between $11 million and $23 million for infrastructure improvements related to the private redevelopment of a downtown parking deck. The city council plans to recommend three finalists for the project at a Tuesday meeting.

Qorvo shares climb 2% on first day of trading

January 5, 2015

(News & Record, Greensboro)

Shares of microchip-maker Qorvo closed at $70.40 on Friday, up 2% from an opening price of $69. The company was formed when Greensboro-based RF Micro Devices acquired Hillsboro, Ore.-based TriQuint Semiconductor in a $1.56 billion deal. The company plans to maintain dual headquarters. 

Boston-based investor pays $77M for Durham apartments

January 5, 2015

(The News & Observer, Raleigh)

Boston-based Berkshire Group paid $77 million – $254,000 per unit – for Durham's Crescent Ninth Street apartment community. Last month, Berkshire set a Triangle record when it bought Crescent Cameron Village for $76.8 million, or $272,000 per unit. The apartments are part of a nine-property portfolio Berkshire is buying from Charlotte-based Crescent Communities.

Mission Health ends contract with American Red Cross

January 5, 2015

(The Sylva Herald)

Mission Hospital announced a new contract with South Carolina-based The Blood Connection, which provides blood and blood-related products. The Asheville-based health system says the contract will allow it to cut costs because the South Carolina nonprofit charges 15% less than the national average. Mission said the Red Cross was unable to meet its blood demands.

Frye Regional names new CEO

January 5, 2015

(The Watauga Democrat)

Mark Benz was named CEO of Hickory-based Frye Regional Medical Center. Benz comes from Philadelphia-based CRC Health, where he was a regional vice president. He previously held  leadership roles with Franklin, Tenn.-based Community Health Systems.