Business

BB&T gets approval to acquire The Bank of Kentucky

June 4, 2015

(The Charlotte Observer)

Winston-Salem-based BB&T received regulatory approval for its $363 million acquisition of The Bank of Kentucky. The deal is expected to close June 19. The Bank of Kentucky has 32 offices in northern Kentucky and Cincinnati and about $1.9 billion in assets.

UNC Charlotte economist predicts solid growth in NC

June 4, 2015

(The Charlotte Observer)

UNC Charlotte economist John Connaughton predicts the state's economy will grow at a rate of 2.5% in 2015. Connaughton, who presented his quarterly update on Wednesday, said North Carolina should add about 82,100 jobs this year, compared with 110,200 in 2014.

Burrus named dean of UNC Wilmington's business school

June 4, 2015

(Greater Wilmington Business Journal)

Following a national search, Robert Burrus was named dean of the Cameron School of Business at UNC Wilmington. Burrus has been interim dean for the last year, since Larry Clark resigned to become chancellor of LSU-Shreveport. Burrus said he hopes to increase fundraising efforts at the school.

Shipping customers await completion of dredging

June 4, 2015

(The News & Observer, Raleigh)

Completion of a dredging project underway near Port of Morehead City will allow the port's largest customers, which include steelmaker Nucor and fertilizer-maker PotashCorp Aurora, to resume normal operations. Navigation channels currently are too shallow for freighters to carry heavy loads.

'Secrets and Lies' moves production to California

June 4, 2015

(StarNews, Wilmington)

The ABC television series Secrets and Lies will film its second season in California. The first season was filmed in the Wilmington area between July and November of 2014. California recently expanded its film incentive program from $100 million to $330 million annually to attract more projects.

Francis retires after 41 years at Elon

June 4, 2015

(The Times-News, Burlington)

Gerry Francis retired as executive vice president of Elon University after a 41-year career at the school.

Audit shows CFO of mental-health agency took kickbacks

June 3, 2015

(The News & Observer, Raleigh)

The chief financial officer of Eastpointe Human Services received nearly $550,000 in kickbacks from contractors hired to renovate properties owned by the mental-health agency, according to a state audit. Eastpointe receives government funding to pay for mental health services for Medicaid patients in a dozen eastern N.C. counties.

BofA analyst predicts falling home prices

June 3, 2015

(The Charlotte Observer)

Bank of America analyst Chris Flanagan predicts the U.S. housing market will experience a three-year slump beginning in 2017, according to a Bloomberg report.
Related: Supreme Court sides with BofA over second mortgages

DENR investigates violations at coal-ash sites

June 3, 2015

(The Sanford Herald)

The N.C. Department of Environment and Natural Resources cited two companies for permit violations at a proposed coal-ash storage site in Chatham County. The companies failed to obtain a required stormwater permit and violated other rules related to site preparations. Duke Energy plans to store up to 12 million tons of coal ash at the Moncure site. Following the discovery of the violations, the state agency expedited plans to visit a proposed coal-ash site in Lee County.

Analysts cautious over Bojangles' stock

June 3, 2015

(The Charlotte Observer)

Almost a month after Bojangles' initial public offering, analysts were guarded when issuing ratings for the Charlotte-based company's stock. Seven Wall Street firms gave the stock a neutral rating. The average price target is $28.63, according to a Bloomberg report.