Business

Developer revives plans for Beaufort golf community

March 2, 2015

(Carteret County News-Times)

Work is underway on a 6,000-square-foot clubhouse at the Beaufort development previously known as North River Club. Raleigh-based DeWitt Carolinas bought the troubled golf course and adjacent homesites – the project is zoned for more than 1,500 lots – in 2014. The new clubhouse is expected to open in late May. 

BB&T receives subpoenas over FHA-backed loans

February 27, 2015

(The Charlotte Observer)

BB&T received subpoenas from the Department of Justice regarding an audit of government-backed mortgage loans. The Winston-Salem-based bank said it was notified of the audit last June and has set aside $85 million to comply with the issue.

FCC ruling will allow Wilson to expand broadband network

February 27, 2015

(WRAL TechWire)

The Federal Communications Commission voted Thursday in favor of municipal broadband providers, a move that will allow the city of Wilson to expand its Greenlight Internet service beyond the city limits. The ruling overrides state laws that had restricted growth of the municipal networks.
Related: Tillis moves to overturn FCC ruling on local broadband

Report: $651.9M spent on clean-energy projects in 2014

February 27, 2015

(The Daily Courier, Rutherfordton)

A new report commissioned by the NC Sustainable Energy Association shows that investment in clean-energy projects in the state was $651.9 million in 2014, nearly 38 times the $17.3 million invested in 2007.

Two BofA board members leaving

February 27, 2015

(The Charlotte Observer)

Chad Holliday Jr. and Clayton Rose will not seek re-election to the board of directors at Bank of America. Holliday was named chairman of Royal Dutch Shell in October; Rose will become president of Bowdoin College in Maine. Also stepping down is Chief Accounting Officer Neil Cotty. Rudolf Bless, deputy chief accounting officer, will replace him.

Tanks arriving in March at New Belgium's Asheville brewery

February 27, 2015

(Asheville Citizen-Times)

New Belgium expects to receive a large shipment that includes 24 fermentation vessels and 6 tanks at its West Asheville brewery site in March. The $140 million brewery, which will be large enough to brew 500,000 barrels of beer, is expected to open by year-end.

Shareholder advisory firms give thumbs up to Pantry sale

February 27, 2015

(The News & Observer, Raleigh)

Institutional Shareholder Services and Glass Lewis & Co. recommend that shareholders of The Pantry approve its pending sale to Alimentation Couche-Tard. Cary-based The Pantry operates more than 1,500 convenience stores in 13 states, primarily under the Kangaroo Express brand. Couche-Tard has 6,303 convenience stores in North America. Most of its U.S. stores operate as Circle K.

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.