Business

Investor says Asheville Savings Bank should put itself up for sale

August 6, 2015

(Asheville Citizen-Times)

New York-based Firefly Value Partners is asking ASB Bancorp, parent company of Asheville Savings Bank, to begin the process of selling the bank. The New York-based investor, which owns a 9.6% stake in ASB, says the company is too small to earn "adequate returns."

FCC funds help Windstream expand rural broadband in NC

August 6, 2015

(News & Record, Greensboro)

Windstream will receive almost $2 million from the Federal Communications Commission to extend its broadband network to 6,988 rural homes and businesses in North Carolina.

Closure of Ex-Im Bank could impact GE operations in Wilmington

August 6, 2015

(StarNews, Wilmington)

Some of the work scheduled to be completed at GE Hitachi and GE Aviation Wilmington could move overseas if the U.S. Export-Import Bank is not renewed. Future expansions are also at risk; the company is likely to grow in countries that support government supported credit agencies such as the Ex-Im Bank.

Charlotte office tower to break ground Aug. 14

August 6, 2015

(The Charlotte Observer)

Portman Holdings and Trinity Partners will break ground Aug. 14 on a 19-story office tower next to the Westin hotel in downtown Charlotte. Construction on the 370,000-square-foot building, named 615 South College, is expected to be complete by late 2016.
More Charlotte development: Waverly breaks ground; 90-acre mixed-use development is 50% pre-leased

SEC requires companies to report wage disparity

August 6, 2015

(The Charlotte Observer)

Beginning in 2017, the SEC will require publicly traded companies to disclose the ratio of pay gaps between chief executives and median employee pay.

Sanderson Farms begins site work in Robeson County

August 6, 2015

(The Fayetteville Observer)

Sanderson Farms will begin site work this month for a $100 million poultry-processing plant near St. Pauls in Robeson County. The Mississippi-based company also has begun clearing land for a hatchery near Lumberton.

NC startups win SBA grants

August 6, 2015

(WRAL TechWire)

Triangle startup incubator First Flight Venture Center and Charlotte-based RevTech Labs and QC FinTech were among 50 winners of the U.S. Small Business Administration Growth Accelerator Fund Competition.

High Point groups agree on merger

August 6, 2015

(High Point Enterprise)

Members of the High Point Chamber and High Point Partners voted unanimously to merge into one economic-development group. Business High Point has secured pledges from 22 businesses that have agreed to contribute $20,000 annually to the group.

Premier to acquire Pittsburgh company for $400M

August 5, 2015

(The Charlotte Observer)

Premier will pay about $400 million to acquire Pittsburgh-based CECity, which offers cloud-based services for health care organizations, including electronic reporting and continuing education. Charlotte-based Premier will pay $250 million in cash and borrow $150 million from revolving credit.
SNEAK PEEK: Read more about Premier and CEO Susan DeVore in our August cover story

ChannelAdvisor taps Red Hat's Cook for CFO post

August 5, 2015

(WRAL TechWire)

Mark Cook will become CFO of ChannelAdvisor, replacing John Baule, who is retiring. Cook is vice president of finance at Raleigh-based software company Red Hat. It's the second leadership change recently announced by the Morrisville-based e-commerce company; former ChannelAdvisor COO David Spitz replaced Scot Wingo as CEO in May.