Duke professor says stock slump not a 'crash'

August 26, 2015


Cam Harvey calls the recent stock-market craziness a "spike in volatility" but says it doesn't qualify as a crash. Harvey, a finance professor at Duke University's Fuqua School of Business, says the tech sector is among industries particularly sensitive to China's economic slowdown.

High Point truck-body manufacturer plans to expand

August 26, 2015

(High Point Enterprise)

Mickey Truck Bodies has bought the former Pearson furniture plant in High Point and plans to expand. Founded in 1904, the company makes truck bodies and trailers for beverage distributors and emergency vehicles and employs 328, including 275 in North Carolina. The Pearson plant was closed in 2014.

Raleigh's Red Hat ranked No. 26 on list of innovators

August 26, 2015

(WRAL TechWire)

Raleigh-based Red Hat was named to Forbes magazine's "World's Most Innovative Companies" list for the third time. The Raleigh-based software company ranked No. 26; California-based automaker Tesla Motors was No. 1.

Charlotte snags corporate HQ from Louisiana

August 26, 2015

Albemarle Corporation, a Louisiana-based chemical manufacturer with a market value of $4.9 billion, is moving its headquarters to Charlotte from Baton Rouge, La. The deal will add 120 new jobs by 2016 for Charlotte, which is becoming a magnet for corporate headquarters. Pay will average more than $160,000 annually.

SBI confirms investigation of former CFCC president

August 26, 2015

(Greater Wilmington Business Journal)

The State Bureau of Investigation confirmed it is investigating former Cape Fear Community College president Ted Spring. A state auditor's report released in July showed that Spring gave raises and promotions without approval of the board of trustees and used college funds for personal expenses. Spring resigned in January but has since asked to be reinstated.

Charlotte to spend $48M for new airport access road

August 26, 2015

(The Charlotte Observer)

Charlotte City Council approved a plan that will expand the access road in front of Charlotte Douglas International Airport to eight lanes for arrivals and eight for departures. The $48 million project also includes pedestrian tunnels connecting the terminal to parking decks.

Meeting set for Duke power line proposal in western NC

August 26, 2015

(Asheville Citizen-Times)

The N.C. Utilities Commission public staff and western N.C. residents will meet with representatives from Duke Energy in Flat Rock on Sept. 3 to discuss the utility's plan to add transmission lines for a new natural-gas fired power plant in Asheville. Residents have voiced concern over the power lines obstructing views and affecting property values.

Krispy Kreme adding 10 shops in Myanmar

August 26, 2015

(Winston-Salem Journal)

Krispy Kreme Doughnuts will become one of the first western brands to enter Myanmar, formerly Burma, when it adds 10 shops there through a franchisee agreement. The Winston-Salem company has more than 1,000 locations, including 700 international shops.

Tiger Woods helps drive huge ratings for Greensboro tournament

August 25, 2015

(The News & Record, Greensboro)

With Tiger Woods in contention, Greensboro's Wyndham Championship on Sunday drew the biggest TV ratings for a nonmajor golf tournament in more than two years. Woods was two shots off the lead when the final round started on Sunday, but finished tied for 10th place. Charlotte native Davis Love III won by one stroke.

Sycamore Partners buys Belk for $3 billion

August 25, 2015

(The Charlotte Observer)

Charlotte-based Belk, the nation's largest family-owned department store chain, agreed to be bought by New York-based private equity firm Sycamore Partners for $3 billion, including the company’s debt. While the company told employees no major changes are planned, analysts say the new owners will probably close stores and cut jobs to improve profitability. Belk's headquarters will stay in Charlotte, and Tim Belk will remain chief executive officer. The deal is expected to close in the fourth quarter this year, pending regulatory approval.  

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