Business

BofA shareholders won't get a vote on chairman decision

March 27, 2015

(The Charlotte Observer)

Despite pressure from several large investors, Bank of America will not let shareholders vote at its annual meeting on a bylaw change that will allow CEO Brian Moynihan to become chairman.
Related: Bank of America's CEO out-earned by lieutenant once again

Red Ventures closing Wilmington insurance brokerage

March 27, 2015

(Greater Wilmington Business Journal)

Red Ventures will close the Wilmington office of HomeInsurance.com by June 30, according to former employees. The company had more than 100 employees when Indian Land, S.C.-based Red Ventures acquired it in 2012. The Internet marketing firm announced last year it was adding 580 jobs at its Charlotte sales center.

Beer festival season kicks off Saturday at Sierra Nevada

March 27, 2015

(Asheville Citizen-Times)

In 1996, only 300 tickets were sold to Asheville's first Brewgrass festival, an annual event which now attracts 4,000 people. The state's burgeoning beer festival season unofficially begins Saturday, with Sierra Nevada's inaugural Burly Beers and Barleywines Festival in Mills River. April festivals are planned in Albemarle, Cary, Charlotte, Goldsboro and Raleigh.

Triangle companies fare well on Forbes' Best Companies list

March 27, 2015

(Forbes)

Forbes magazine ranked Triangle employers Quintiles, SAS and UNC Healthcare in the top 50 on its first-ever list of America's Best Employers.

 

Duke execs earn less due to coal-ash spill

March 27, 2015

(The Charlotte Observer)

Duke Energy cut short-term incentives for its top five officers by about 35% in 2014, reducing CEO Lynn Good's incentives payout by about $600,000. Good's total compensation was $8.3 million in 2014, her first full year as chief executive at the nation's largest utility.

Roberts out at UNC Wilmington's Center for Innovation

March 27, 2015

(Greater Wilmington Business Journal)

Jim Roberts is no longer the executive director of UNC Wilmington's Center for Innovation and Entrepreneurship, a position he had held since May 2013. University officials didn't provide further details about Roberts' departure or name an interim director.

Mecklenburg County reaches 1 million

March 26, 2015

(The Charlotte Observer)

Mecklenburg County's population hit the 1 million mark sometime between July 2013 and July 2014, according to census data released Thursday. The county's population grew 10.1% from 919,628 in 2010 to 1.01 million in 2014. Wake County, which eventually is expected to overtake Mecklenburg, had a population of 998,691. Half of the state's counties experienced growth between 2010 and 2014.

Rex Healthcare names Burriss president

March 26, 2015

(The News & Observer, Raleigh)

Rex Healthcare has named Steve Burriss president, effective April 1. Burriss, 48, has served as chief operating officer of the Raleigh-based health system since 2012 and was named interim president in January when David Strong announced he was leaving to take a job in Florida. Rex employs 5,600 people at its 660-bed Raleigh hospital.
Rex was ranked No. 1 on Business North Carolina's 2015 list of Top Hospitals in the state. Click here to view the full list.

Kannapolis looks at building downtown baseball stadium

March 26, 2015

(Independent Tribune, Concord)

Kannapolis City Council approved spending $20,000 for a study on the economic impact of building a downtown baseball stadium for the city's minor-league team. City leaders are trying to decide whether to renovate the existing 20-year-old stadium or build a new one that could also host concerts and other events.

Red Hat reports strong fourth quarter

March 26, 2015

(The News & Observer, Raleigh)

Raleigh-based Red Hat reported fourth-quarter revenue of $463.9 million, beating analysts' projections of $456.4 million. Revenue for the full year increased 17% to $1.79 billion. The software company also announced that its board of directors approved a stock buyback of up to $500 million.