Business

Guilford College faces $2M deficit

March 5, 2015

(News & Record, Greensboro)

Guilford College has a budget deficit of about $2 million, and President Jane Fernandes says she expects that will remain unchanged in 2015-16. The private college in Greensboro laid off 16 employees in 2012 to close a $1 million budget deficit. Fernandes says there are no plans to lay off workers this year, though most vacant positions have been left unfilled.

Durham's Patheon to buy SC drugmaker

March 5, 2015

(The News & Observer, Raleigh)

Patheon will acquire South Carolina-based IRIX Pharmaceuticals for an undisclosed amount. IRIX employs 180 people at sites in Florence and Greenville, S.C. Durham-based Patheon employs about 1,700 people in North Carolina and more than 8,000 worldwide.

Piedmont Natural Gas sets record in February

March 5, 2015

(The Charlotte Observer)

Charlotte-based Piedmont Natural Gas delivered a record volume of gas in the month of February and set a single-day record on Feb. 19. The company has more than one million customers in the Carolinas and Tennessee.

Former Charlotte Knights stadium demolished

March 5, 2015

(The Charlotte Observer)

Demolition crews began razing the former Charlotte Knights baseball stadium in York County, S.C. Charlotte-based retailer Cato bought the land and has said it plans to build a distribution center there. Attendance has soared since the Knights moved to a new stadium in uptown Charlotte last summer.

Charlotte's Frontier Capital raises $390M

March 4, 2015

(The Charlotte Observer)

Charlotte-based Frontier Capital has raised $390 million in its fourth fund, exceeding its initial goal of $300 million. The private-equity firm invests in fast-growing software and business-services companies with annual revenues between $5 million and $30 million. 

Furniture supplier eyes Morganton for 70 jobs

March 4, 2015

(The News Herald, Morganton)

City council members approved incentives for American Hospitality Furniture to bring about 70 jobs to Morganton. The company, which supplies custom furniture for hotels, would renovate and occupy a former Drexel Heritage plant and eventually could employ up to 150 people. The city will apply for a $212,500 Building Reuse and Redevelopment Grant from the state Commerce department and agreed to a 5% local match if the grant is approved.

Stephen Colbert to speak at Wake Forest commencement

March 4, 2015

(Winston-Salem Journal)

Wake Forest University announced that comedian Stephen Colbert will speak at its commencement program in May. Colbert was host and executive producer of Comedy Central's "The Colbert Report" for nine years and soon will take David Letterman's place as host of CBS's  "Late Show." 

Furniture company leaves Charlotte for Fort Mill, SC

March 4, 2015

(The Charlotte Observer)

Broad River Furniture, which operates 16 Ashley Furniture stores and one outlet store, will move its headquarters and distribution center from Charlotte to Fort Mill, S.C., where it will employ 200 people. The retailer will invest $12.6 million in its new 174,000-square-foot campus, which is expected to be open by November.

Woodlake Resort and Country Club to be sold at auction

March 4, 2015

(The Fayetteville Observer)

Woodlake Resort and County Club, located in Moore County between Vass and Spring Lake, will go up for auction March 26 with a suggested opening bid of $2.5 million. Developed in 1968, the financially troubled club filed for bankruptcy protection in September.

Family Dollar CEO sells more shares

March 4, 2015

(The Charlotte Observer)

Family Dollar Stores CEO Howard Levine plans to sell one to two million shares of the company's stock over the next five days, according to a securities filing. Levine sold almost 1.8 million shares last month for about $135 million. Chesapeake, Va.-based Dollar Tree is awaiting FTC approval to complete its $8.5 billion acquisition of the Matthews-based retailer.