Business

Ruger reports 65% drop in net income

February 27, 2015

(Winston-Salem Journal)

Gun-maker Sturm, Ruger & Co. reported a 65.2% drop in net income in 2014 due to weak sales, higher operating costs and an expense related to its pension plan. The Southport, Conn.-based company opened a Mayodan plant in 2013 and plans to create 473 jobs by 2017.

Family Dollar stores could be rebranded

February 26, 2015

(The Charlotte Observer)

Dollar Tree CEO Bob Sasser said he expects the discount-store chain will have to close no more than 300 stores in order to receive FTC approval of its acquisition Family Dollar Stores. He says many Family Dollar stores will be rebranded to Dollar Tree after the deal closes. Dollar Tree hasn't said how many jobs it will cut at Family Dollar's Matthews headquarters.

Tobacco companies settle federal Engle cases

February 26, 2015

(Winston-Salem Journal)

R.J. Reynolds Tobacco Co. and Philip Morris USA will each pay $42.5 million while Lorillard will pay $15 million to settle Engle progeny lawsuits that are either pending or that haven't yet gone to trial in Florida federal courts. The settlement affects more than 400 pending cases, but doesn't affect state cases, which represent most of the lawsuits against the tobacco companies.

FCC expected to hear Wilson's broadband case today

February 26, 2015

(WRAL TechWire)

The Federal Communications Commission may decide today on the City of Wilson's petition for the federal agency to override state laws that limit municipal broadband networks. Wilson built its own Greenlight fiber network in 2009 and wants to extend the network beyond the city limits and into neighboring counties.

Emeril Lagasse closing Charlotte restaurant

February 26, 2015

(The Charlotte Observer)

E2 Emeril's Eatery in downtown Charlotte will close April 26 due to slow business. "The restaurant was never able to achieve the volume projected when we came to Charlotte," E2 tweeted. Celebrity chef Emeril Lagasse opened the restaurant in 2012.

Lenovo's website hacked following adware controversy

February 26, 2015

(WRAL TechWire)

A hacker group called Lizard Squad said they are responsible for hacking Lenovo's website Wednesday evening. The Beijing-based computer-maker, which has its North American headquarters in Morrisville, came under fire last week when it was discovered that it had pre-installed malicious adware on some of its laptop computers.

Asheville restaurant workers look to improve work environment

February 26, 2015

(Mountain Xpress, Asheville)

Restaurant workers in Asheville want to improve working conditions in the area's booming hospitality industry. A group of workers voiced concern about having no sick days, being expected to work off the clock and being required to share tips illegally.

MetLife to pay $123.5M in mortgage settlement

February 26, 2015

(The News & Observer, Raleigh)

MetLife will pay $123.5 million to settle a federal investigation into its mortgage-lending practices. The Justice Department said the company issued hundreds of loans between January 2009 and August 2010 that it knew didn't meet federal requirements, leaving the Federal Housing Authority stuck with the bill when customers defaulted on the loans. MetLife employs about 2,600 in North Carolina.

VF announces location of jeanswear innovation center

February 26, 2015

(Winston-Salem Journal)

VF Corp. said it will open its previously announced jeanswear innovation center at Greensboro's Gateway University Research Park. The Greensboro-based apparel company plans to hire 30 scientists, technical designers and other employees at the center by the end of 2016. N.C. A&T State University and UNC Greensboro are partners in the project.

775K NC residents impacted by Anthem data breach

February 25, 2015

(The News & Observer, Raleigh)

More than 775,000 North Carolina health-insurance customers are among nearly 80 million people affected by the massive Anthem data breach. The world's second-largest insurer said it will offer affected customers free 2-year credit protection and identity-theft insurance. Blue Cross and Blue Shield of North Carolina said more than 180,000 of its former and current customers who used out-of-state health-care services were affected – Anthem processed those claims on behalf of Blue Cross.