Business

Greensboro too south for Stone

July 28, 2014

(Greensboro News & Record)

Stone Brewing Co. told Greensboro officials the city was too far south for the California-based brewer's East Coast manufacturing and distribution facilities.

Lorillard investor sues to block Reynolds acquisiton

July 25, 2014

(News & Record, Greensboro)

A Lorillard investor seeking to represent all company shareholders has filed a lawsuit to stop Reynolds American's $27.4 billion acquisition of the Greensboro-based cigarette maker, according to a Bloomberg report.

Man pleads guilty in Charlotte Ponzi scheme case

July 25, 2014

(The Charlotte Observer)

Claude Darrell McDougal, 55, pleaded guilty to securities fraud and faces up to 20 years in prison and a $5 million fine. About 25 Charlotte investors lost more than $2.5 million in a Ponzi scheme McDougal ran between 2006 and 2010..

Health insurers to issue $8.5 million in refunds to NC residents

July 25, 2014

(The News & Observer, Raleigh)

More than 182,000 North Carolina residents are eligible for insurance refunds totaling $8.5 million under a provision of the Affordable Care Act. The average refund will be $77 per family.

Wine industry thriving in NC

July 25, 2014

(Asheville Citizen-Times)

A group of wineries in Western N.C. and north Georgia will become part of an American Viticultural Area, a federal designation that allows vintners to more accurately describe the origins of their wine. Wineries across North Carolina attract 1.26 million visitors annually, and the wine industry had a $1.28 billion impact in the state in 2009. 

Nucor reports higher second quarter profits

July 25, 2014

(The Charlotte Observer)

Nucor reported net income of $147 million in the second quarter, up from $85.1 million for the same period a year ago. Increased construction spending and higher steel prices boosted the Charlotte-based company's earnings. 

American Underground to double space in downtown Durham

July 25, 2014

(WRAL TechWire)

American Underground, which operates three business incubators in the Triangle area, will double the size of its downtown Durham location, creating space for 50 additional startups. 

Eshelman resigns from UNC Board of Governors

July 25, 2014

(StarNews, Wilmington)

Fred Eshelman resigned from the UNC Board of Governors a year before his term was set to expire. Eshelman founded Wilmington-based PPD and Morrisville-based Furiex Pharmaceuticals, which was acquired by Dublin-based Actavis on July 2 for $1.1 billion.

Sealed Air brings 1,300 jobs to Charlotte

July 24, 2014

(The Charlotte Observer)

Sealed Air Corp. − the maker of Bubble Wrap − will move its headquarters from Elmwood Park, N.J. to Charlotte, bringing 1,262 jobs. The company will invest $58 million in its new campus, and it will receive up to $36 million in state incentives.  

Moogfest to become a biennial event

July 24, 2014

(Asheville Citizen-Times)

Asheville's Moogfest music and technology festival will take a year off and return in 2016. Moog Music invested $3 million in the revamped music festival, which expanded from three to five days and added technology and innovation programs. The 2014 festival lost $1.5 million.