Business

Cardinal says Shipman was forced out

May 20, 2015

(The Charlotte Observer)

Leaders of Kannapolis-based Cardinal Innovations Healthcare Solutions said longtime CEO Pam Shipman was forced to retire as a result of long-standing performance issues. Richard Topping will become acting CEO of the managed-care organization, which oversees $635 million in government spending for behavioral health.

BB&T, other regional banks support legislation to relax regulations

May 20, 2015

(Winston-Salem Journal)

BB&T and First Citizens Bank & Trust joined with other regional banks in supporting the Financial Regulatory Improvement Act of 2015, which proposes to raise the asset threshold for certain Dodd-Frank regulations from $50 billion to $500 billion. PNC Financial Services Group, SunTrust Banks and Fifth Third Bancorp also support the legislation.

Mecklenburg commissioners ask McCrory to delay toll project

May 20, 2015

(The Charlotte Observer)

Mecklenburg County commissioners joined Cornelius, Davidson, Huntersville and Mooresville in urging Gov. Pat McCrory and the N.C. Department of Transportation to delay finalizing a contract with a private company to build toll lanes on Interstate 77. Residents and local leaders say they have received little information about the project from the state.

Western NC, upstate SC leaders join forces

May 20, 2015

(Asheville Citizen-Times)

Business leaders from western North Carolina and upstate South Carolina met Tuesday to discuss taking a regional approach to economic development. The inaugural meeting of the I-26 Regional Business Leadership drew more than 80 business members from cities including Asheville, Spartanburg, S.C., and Greenville, S.C.

AvidXchange acquires Texas software company

May 20, 2015

(The Charlotte Observer)

Charlotte-based AvidXchange has acquired a Texas-based software company for an undisclosed amount. AvidXchange, which announced last year plans to add 600 jobs in Charlotte, provides accounts-payable software for midsized companies.

Novant Health reports decline in operating income

May 20, 2015

(Winston-Salem Journal)

Winston-Salem-based health-care system Novant Health reported $19.7 million in operating income at the start of fiscal 2015, down 1.1% from a year ago.

Asbury Carbons to create 25 jobs in Robeson County

May 19, 2015

(The Fayetteville Observer)

Asbury Carbons will invest $8 million in a Lumberton manufacturing plant and will create 25 jobs over the next three years. The New Jersey-based company processes graphite and other carbons and materials for ceramics, LED and other manufacturers.

Durham-based Cree to spin off Power & RF business

May 19, 2015

(The News & Observer, Raleigh)

Durham-based LED lighting company Cree will spin off its power and radio-frequency subsidiary into a separate company. Frank Plastina, former CEO of telecom company Tekelec, will be CEO of Cree Power & RF Division, which will be publicly traded.
Read more about Cree, from BNC's May issue: Hot and cold: Three NC tech companies in fast-growing sectors face down market whims

Allscripts cuts 60 jobs in Raleigh

May 19, 2015

(The News & Observer, Raleigh)

Chicago-based Allscripts laid off 60 people at its Raleigh office as part of company-wide staff cuts. The company, which develops electronic medical records, was awarded up to $5.35 million in state incentives in 2013 if it agreed to add 350 jobs to its 1,266 by 2017.

Heritage Home seeking new CEO

May 19, 2015

(Winston-Salem Journal)

Heritage Home Group named Richard Lozyniak interim CEO, replacing Ira Glazer, who held the position for 18 months. Lozyniak also will become a director and will assist with the search for a permanent CEO at the High Point-based furniture company.