Business

Red Ventures buys Pitney Bowes unit for $310M

May 29, 2015

(The Charlotte Observer)

Indian Land, S.C.-based Red Ventures completed its $310 million acquisition of Imagitas, a marketing-services unit of Stamford, Conn.-based Pitney Bowes that has a contract with the U.S. Postal Service. It's the first major acquisition for Red Ventures, which employs about 2,300 people at its South Carolina headquarters and in Charlotte.

Raleigh's North Hills gains new office tower

May 29, 2015

Raleigh developer John Kane plans a 12-story building in the city's North Hills district for Chicago-based Allscripts Healthcare Solutions.

Apartment developer buys downtown Durham property

May 29, 2015

(The News & Observer, Raleigh)

Charlotte-based Northwood Ravin paid $11.7 million for a 6.1-acre site adjacent to the Durham Bulls ballpark and the American Tobacco Campus. The apartment developer is considering potential plans for the site that could include residential units, a hotel, offices and retail.

Blowing Rock health care facility to open March 2016

May 29, 2015

(The Watauga Democrat)

Construction of Chestnut Ridge at Blowing Rock, a health care facility on 68 acres that will replace Blowing Rock Hospital and an extended-care center, is moving ahead of schedule and is now 47% complete.

Volvo subsidiary opens Davie County plant

May 29, 2015

(Winston-Salem Journal)

Dex Heavy Duty Parts, a subsidiary of the Volvo Group, held a ribbon-cutting ceremony at its Advance plant where the company recycles heavy truck parts. The company employs 38 full-time workers.

NC jobless rate rises to 5.5%

May 28, 2015

(WRAL.com)

North Carolina's unemployment rate inched up to 5.5% in April, compared with 5.4% in March. The U.S. rate was 5.4%. The state's labor force rose by 65,000 between February and April.
Also: Increase in jobless rate may signal economic plateau

Consultant says Charlotte needs medical school

May 28, 2015

(The Charlotte Observer)

Charlotte needs a four-year medical school and expanded residency programs to meet workforce needs, according to a Pittsburgh-based health care consultant. Paul Umbach says the most "feasible and cost effective" way to develop a school would be through a partnership between UNC School of Medicine, which operates a Charlotte campus at Carolinas Medical Center, and UNC Charlotte.

NCCU chancellor accused of racism, misuse of public funds

May 28, 2015

(WRAL.com)

Three former employees of N.C. Central University have filed lawsuits against Chancellor Debra Saunders-White, accusing her of racial discrimination against non-blacks and creating a hostile work environment. The lawsuits also claim Saunders-White spent state funds for personal use.

Moynihan says BofA trading unit may face deeper cuts

May 28, 2015

(The Charlotte Observer)

Bank of America CEO Brian Moynihan says the Charlotte-based company will have to keep cutting expenses in its markets trading division unless revenue improves.

Cape Fear Valley to add 17 beds to ER

May 28, 2015

(The Fayetteville Observer)

Cape Fear Valley Health System plans to renovate the emergency department at its main campus in Fayetteville, bringing the total number of beds there to 92.
Related: ER visits on the rise in Carolinas, US