Business

Feds close investigation into Carolinas HealthCare System

January 13, 2016

(The Charlotte Observer)

The U.S. Department of Labor took no action in a long-running case against the Charlotte-based health care system, though it could revisit the case in the future. The investigation centered on MedCost, a for-profit health benefits company owned by CHS. A whistleblower asked the Labor Department to determine whether ownership of the company represented a conflict of interest.

Charlotte City Council backs I-77 toll lanes

January 12, 2016

(The Charlotte Observer)

Council members voted 7-4 to support the $647 million project that will add toll lanes on 26 miles of Interstate 77 in Mecklenburg and Iredell counties. Their vote means the project, already under construction, is likely to continue despite vocal opposition from leaders and residents of several towns in north Mecklenburg.

Live Oak taps former Square 1 exec for COO post

January 12, 2016

(American Banker)

Live Oak Bancshares promoted Greg Thompson to chief operating officer, a newly created position. Thompson was a former executive vice president at Square 1 Bank, a Durham-based niche lender that was acquired by California-based PacWest Bancorp in October. Wilmington-based Live Oak is the nation's second-largest SBA lender, behind only Wells Fargo.

First look at Reynolds Building apartments

January 12, 2016

(Winston-Salem Journal)

The first tenants of The Residences @ the R.J. Reynolds Building will move in in March, according to developer PMC Property Group. The historic 22-story building, the tobacco company's former headquarters, will house a boutique hotel and 117 upscale apartments. Rent starts at $995 a month for a one-bedroom unit.

Raleigh software company bought by Texas private-equity firm

January 12, 2016

(The News & Observer, Raleigh)

Consolidated Asset Recovery Systems was acquired for an undisclosed amount by Greenridge Investment Partners. Consolidated Asset provides Internet-based software that helps lenders manage and sell repossessed property. The company expects to add seven to 10 new employees to its existing 63 in 2016.

Saylor discusses NC Railroad's goal of growing state's economy

January 12, 2016

(Carteret County News-Times)

Scott Saylor, president of the N.C. Railroad Co., talks about the importance of the 165-year-old company and how it hopes buying 875 acres of a Randolph County megasite will help attract an automaker. The state is already home to a number of auto parts suppliers, which he says gives it an advantage.

Federal judge OKs Duke's compliance plans

January 12, 2016

(The News & Observer, Raleigh)

Senior U.S. District Judge Malcolm Howard approved Duke Energy's compliance plans related to a $102 million coal-ash settlement last year. The Charlotte-based utility agreed to pay $68 million in fines and $34 million for environmental projects after pleading guilty to violations of the Clean Water Act.

Gordon Food opens Kannapolis distribution center

January 12, 2016

(Independent Tribune, Concord)

Michigan-based Gordon Food Service plans to cut the ribbon on its $58 million distribution center in Kannapolis on Tuesday. The family-owned company eventually plans to employ up to 275 people at the 300,000-square-foot center.

Charlotte's Beacon Partners building 2nd spec building in Concord

January 12, 2016

(The Charlotte Observer)

The real-estate investment company has begun construction on a 309,536-square-foot building at RiverOaks Corporate Park near Concord Regional Airport. Plans call 1.4 million square feet of manufacturing and logistics space at the park. Beacon's other projects include a seven-story office building on East Morehead Street near uptown Charlotte.

Blue Cross CEO: 'We're going to make it right'

January 11, 2016

(The News & Observer, Raleigh)

Brad Wilson, CEO of Chapel Hill-based Blue Cross and Blue Shield of North Carolina, said about 25,000 customers were accidentally placed into the wrong health plans, and the insurer drafted 3,200 customers' bank accounts for the wrong amounts. Wilson says the company will issue refunds and make fixes this week.