Business

Credit union regulator sues BofA, US Bancorp

December 18, 2014

(The Charlotte Observer)

The National Credit Union Administration Board filed a lawsuit claiming Bank of America and US Bancorp failed as trustees for mortgage-backed securities following the 2008 credit crisis.
Related: Countrywide whistleblower to receive more than $57M

President of Hoke Healthcare resigns

December 18, 2014

(The Fayetteville Observer)

Velvette Jones resigned earlier this month as president of Hoke Healthcare, part of Fayetteville-based Cape Fear Valley Health System. Jones was hired in fall 2013 to help launch the health system's 41-bed hospital in Hoke County, which is expected to open in February. 

$26M Cherokee Justice Center opens

December 18, 2014

(The Sylva Herald)

The Eastern Band of Cherokee Indians opened a $26 million justice center Wednesday near downtown Cherokee. The 76,000-square-foot center will house a tribal police station, courthouse and a 96-bed jail.

Greensboro hotel group proposes 104-room Asheville hotel

December 18, 2014

(Asheville Citizen-Times)

Asheville's hotel boom continues with a proposal for a five-story, 104-room hotel near Merrimon Avenue and Interstate 240. Greensboro-based CN Hotels owns the property, which would be developed by a Greensboro-based group listed as Asheville Property. The city's zoning commission is scheduled to review the project Jan. 7. 

New economic-development agency proposed for Guilford

December 18, 2014

(News & Record, Greensboro)

Officials from Guilford County, High Point and Greensboro are considering establishing a new, countywide economic-development group for recruiting business to the area. Greensboro and High Point currently have separate job-recruiting agencies.

Cary's The Pantry nearing deal to be sold

December 17, 2014

(The Wall Street Journal)

Cary-based The Pantry, which operates more than 1,500 convenience stores primarily under the Kangaroo Express banner, has hired an investment bank to solicit bids for the company. A buyer could be announced within days, according to people familiar with the matter.

Two pension funds in talks with BofA over Moynihan's dual roles

December 17, 2014

(The Charlotte Observer)

The California State Teachers' Retirement System and the office of the New York City Comptroller confirmed they are in discussions with Bank of America regarding the bank's decision to change its bylaws – and name CEO Brian Moynihan chairman – without a shareholder vote.

Salix announces revised inventory-reduction schedule

December 17, 2014

(The News & Observer, Raleigh)

Salix Pharmaceuticals announced it will accelerate a planned inventory reduction of three of its drugs. The Raleigh-based pharmaceutical, which makes treatments for gastrointestinal illnesses, will reduce inventories of three drugs by the end of 2015 – a year earlier than it had previously announced. Company shares rose 7% following the announcement.

Advocacy group says Duke building too many power plants

December 17, 2014

(The Charlotte Observer)

Durham-based environmental advocacy group NC WARN says Duke Energy and other utilities are wasting billions of dollars by building too many power plants. Duke responded by saying that WARN is criticizing the company for replacing its coal-fired plants with cleaner natural-gas fired and solar ones.

Cone Health reorganizes senior officials

December 17, 2014

(Winston-Salem Journal)

Greensboro-based Cone Health has reorganized its top leadership roles, giving some of its senior officials new titles. Executive Vice President Judy Schanel will become chief operating officer and Chief Medical Officer Mary Jo Cagle will become chief clinical officer.