Business

XPO Logistics to grow in Charlotte

September 15, 2014

(The Charlotte Observer)

The CEO of XPO Logisitics says the shipping company plans to keep growing through acquisitions, and its Charlotte office, where it employs more than 360 workers, will grow as well. The Greenwich, Conn.-based shipping company completed a $615 million acquisition of High Point-based New Breed Logistics earlier this month.

Salix enters agreement with Indian pharma to sell drugs in Canada

September 15, 2014

(The News & Observer, Raleigh)

Raleigh-based Salix Pharmaceuticals signed an agreement to allow Lupin, the third largest Indian pharmaceutical company by sales, to market and sell some of Salix's drugs in Canada. Salix, ranked 12th on Business NC's annual list of Top 75 Public Companies based in North Carolina, announced in July it plans merge with Italian drug maker Cosmo Pharmaceuticals SpA and move its headquarters to Ireland.

CommunityOne CEO stepping down

September 15, 2014

(The Charlotte Observer)

Brian Simpson will step down as CEO of Charlotte-based CommunityOne Bancorp effective Sept. 30 after three years in the position. President Bob Reid is expected to succeed him. Previously called FNB United Corp., the bank changed its name and moved its headquarters from Asheboro to Charlotte after the 2013 merger between subsidiary CommunityOne Bank and Granite Falls-based Bank of Granite.

Judge approves bankruptcy plan for Mocksville tobacco companies

September 15, 2014

(Winston-Salem Journal)

A U.S. Bankruptcy Court judge approved a liquidation plan for three Mocksville tobacco companies. Renegade Holdings Inc., Renegade Tobacco Co. and Alternative Brands Inc. entered bankruptcy protection in January 2009. Former owner Calvin Phelps began serving a three-year prison term in May after pleading guilty to charges related to avoiding federal surcharges on cigarette sales. 

High-tech job market improves

September 15, 2014

(WRAL TechWire)

The latest jobs report from the N.C. Technology Association shows a slight increase in the number of high-tech job openings in the state. The report says the number of jobs in information technology is expected to grow this fall.

Monroe paving company pleads guilty in fraud case

September 15, 2014

(The Charlotte Observer)

Monroe-based Boggs Paving pleaded guilty to conspiracy to defraud the federal government. CEO Drew Boggs and four company executives have already pleaded guilty in the scheme, in which they exaggerated the role of a minority subcontractor to bilk the government out of $87 million in contracts.

Fayetteville may link chicken-plant incentives to local hiring

September 12, 2014

(The Fayetteville Observer)

Fayetteville City Council may require Sanderson Farms to hire mostly Cumberland County contractors to build its proposed $113 million chicken plant in order for the Mississippi-based company to receive local incentives. The city could also require the poultry producer to hire county residents to fill the majority of its 1,000 jobs.

Developer proposes $60 million project in midtown Charlotte

September 12, 2014

(The Charlotte Observer)

A local developer wants a 1.7-acre parcel in midtown Charlotte rezoned for a $60 million mixed-use project. Baxter Place, across the street from Charlotte's Metropolitan development, would include an eight-story building with a hotel, offices and retail space. Goode Properties' project plan is 40 feet higher than the location's current height restrictions.

Film industry awaits guidelines for new grant program

September 12, 2014

(StarNews, Wilmington)

Film productions are still waiting to learn how to apply for the state's new grant program, which will go into effect in 2015. Johnny Griffin, director of the Wilmington Regional Film Commission, says television and film projects planning to film in early 2015 will begin searching for locations by early October.

GKN Driveline breaks ground on $100 million plant expansion

September 12, 2014

(The Charlotte Observer)

GKN Driveline broke ground on a previously announced expansion at its Catawba County plant. The company, which makes automotive components including all-wheel-drive systems and transmissions, plans to hire 228 workers by 2018.