Business

Charlotte's LendingTree posts record revenue in 2nd quarter

August 4, 2015

(The Charlotte Observer)

Charlotte-based LendingTree posted a profit of $4.7 million in the second quarter, compared with a loss of $248,000 a year ago. Revenue reached a record $55.1 million, up 31% from a year ago.

Leader of Ponzi scheme ordered to help pay $76M

August 4, 2015

(Winston-Salem Journal)

Keith Simmons and a California-based insurance broker were ordered to pay $76 million in civil penalties related to a Ponzi scheme Simmons operated in Ashe County. Through his companies, Black Diamond Capital Solutions and High South Realty, Simmons bilked more than 400 people out of more than $40 million. He was sentenced to 40 years in prison in 2012.
Related: "Money for nothing," August 2012

Lenovo slips in smartphone market share rankings

August 4, 2015

(The News & Observer, Raleigh)

Lenovo dropped from third place to fifth in overall market share of smartphones, based on reports from two market-research firms. Lenovo's smartphone shipments fell 33.3% in the second quarter compared with the previous year.

Megasite group awaits state decision on incentives

August 3, 2015

(News & Record, Greensboro)

The Greensboro-Randolph Megasite Foundation has options to purchase 1,400 acres of land for a manufacturing megasite, but the group can't promote the site to prospective employers until knowing what type of incentives the state will provide.

Duke Progress completes $1.25B purchase of eastern NC power plants

August 3, 2015

(The News & Observer, Raleigh)

Residents of 32 eastern N.C. towns could see their power bills slashed by as much as 17% now that the N.C. Eastern Municipal Power Agency has completed the sale of its ownership stake in five power plants to Duke Energy Progress. 

Parexel laying off 125 in Durham

August 3, 2015

(The News & Observer, Raleigh)

In a notice filed with the N.C. Commerce Department, Parexel confirmed it plans to lay off 125 workers in Durham. The contract-research organization said in June it was laying off about 5% of its global workforce.

Scotland County works to attract new industry

August 3, 2015

(The News & Observer, Raleigh)

Business owners in Scotland County, which had the second-highest unemployment rate in the state in June, are offering incentives such as free gas, haircuts and country-club memberships to recruit new industry. The county has struggled to recover economically as manufacturers including Abbott Laboratories and WestPoint Stevens have shut down factories, laying off thousands of workers.

Fletcher kayak-maker lays off 25 as result of merger

August 3, 2015

(Asheville Citizen-Times)

Almost half the employees of Fletcher-based Legacy Paddlesports lost their jobs last week as the company announced it was merging with Hurricane Kayaks of Warsaw. Legacy, which recently has experienced slumping sales, invested $4.5 million in the Henderson County plant after moving headquarters from Greensboro in 2012 ("Back paddle," July 2013).

Charlotte developer Crosland dies at 86

August 3, 2015

(The Charlotte Observer)

Prominent Charlotte real-estate developer John Crosland Jr. died Sunday after a long battle with Parkinson's disease.

Durham ranked ninth-best city for creative people

August 3, 2015

(WRAL TechWire)

A thriving music scene and premier performing arts center helped Durham earn the No. 9 spot on SmartAsset's latest list of "Best Cities for Creatives."