Business

NC Railroad bets on Triad megasite

January 6, 2016

(News & Record, Greensboro)

The North Carolina Railroad Co. said Tuesday it will pay about $13 million for 875 acres within the Greensboro-Randolph Megasite, adding to the 421 acres Randolph County purchased in 2015. Regional leaders hope the megasite will help the area attract a car plant or other large-scale manufacturer.

Small Raleigh tech company sues Apple, Fitbit over patents

January 6, 2016

(The News & Observer, Raleigh)

Valencell, a Raleigh-based company that develops technology for wearable electronic devices, alleges Apple wrongly used its heart sensor technology in its Apple Watch while Fitbit used it in its Charge HR and Surge fitness bands. Valencell has 29 patents, with another 60 pending.

Charlotte's Crescent Communites sells SouthPark property, breaks ground uptown

January 6, 2016

(The Charlotte Observer)

Crescent Communities completed the sale of a 321-unit apartment building near Charlotte's SouthPark mall. A fund affiliated with UBS Global Asset Management paid $75.4 million for the property, where leases for studio units start at $1,150. The Charlotte-based real-estate developer planned to break ground Wednesday on an uptown development that will include a Whole Foods grocery store, two hotels and hundreds of apartments.

How tax reform is cutting your power bill by 96 cents a year

January 6, 2016

Blog: How tax reform in North Carolina is cutting your power bill, South Carolina's sluggish income growth and other news about some of our state's more interesting companies.

New Reynolds American subsidiary to focus on vapor products

January 6, 2016

(Winston-Salem Journal)

RAI Innovations was established to help the Winston-Salem-based tobacco company develop new vapor and nicotine products and bring them to market faster. Carolyn Hannigan will become president of the new subsidiary. Reynolds' Vuse is the top-selling electronic cigarette in the United States.
Blowing smoke: E-cigarettes and vaping are making a push into the mainstream

Hedge fund pressing Ally to improve stock performance

January 5, 2016

(The Charlotte Observer)

Ally Financial, the Detroit-based lender that employs about 800 in Charlotte, is haggling with a hedge fund that Ally says is pushing for a sale of the company. New York-based Lion Point Capital has suggested two people to run for seats on Ally's board during the May annual meeting, following the company's refusal to form a committee to study strategic alternatives. General Motors spun off its General Motors Acceptance Corp. subsidiary in 2006. It was later renamed Ally. While its headquarters is in Detroit, CEO Jeff Brown lives in Charlotte.

Study: NC ranks 5th for relocations within the US

January 6, 2016

(Winston-Salem Journal)

North Carolina ranked fifth based on the the number of inbound household shipments in 2015 according to an annual United Van Lines report, down from third in 2014. The Tar Heel state trailed only Oregon, South Carolina, Vermont and Idaho.

Daimler to lay off 936 workers in Rowan County

January 5, 2016

(The Charlotte Observer)

Daimler Trucks North America is cutting production by one-third at its Cleveland Truck Manufacturing Plant, where 3,100 workers make Freightliner and Western Star trucks. The cuts are due to a "sustained reduction in orders and a diminished build rate," according to a company spokesman.

Only 2 NC counties support offshore drilling

January 5, 2016

(StarNews, Wilmington)

Brunswick and Carteret are the only two counties in the state that have approved resolutions supporting offshore seismic testing. At least 29 governments, mostly in coastal areas, have passed resolutions against offshore exploration or testing for oil and natural gas, according to environmental group Oceana.

Design blog ranks NC's logo worst of 2015

January 5, 2016

(The News & Observer, Raleigh)

North Carolina's "Nothing Compares" logo, introduced last year as part of a new $1.5 million branding campaign, topped the list of worst logos of 2015, ranked by Under Consideration, an Austin, Texas-based design blog: "Not a single element of this logo is right, in concept or execution." Ouch.