Business

Charter to pay $55B for Time Warner Cable

May 26, 2015

(The Charlotte Observer)

Charter Communications will pay $195.71 a share – about $55 billion – for Time Warner Cable in a cash and stock deal. New York-based Time Warner, the nation's second-largest cable company, employs about 3,140 people in the Charlotte area.

Wilmington officials not alarmed over company's bankruptcy filing

May 26, 2015

(Greater Wilmington Business Journal)

Local officials say the bankruptcy filing of a Massachusetts company owned by Vertex Rail CEO Don Croteau shouldn't affect the Wilmington-based company's plans. Vertex Rail, which said it will create 1,300 jobs at a rail-car manufacturing plant, did not ask for incentives, though the city and New Hanover County agreed to help pay for a road extension near the plant.

Wake Forest Baptist reports strong 3Q results

May 26, 2015

(Winston-Salem Journal)

Wake Forest Baptist Medical Center reported excess revenue – the same as profit for a non-profit organization – of $38.1 million in the third quarter, compared with a loss of $97.6 million a year ago. The hospital said flu-related admissions helped drive revenue growth during the quarter, which ended March 31. Bad debt fell by 45.2%.

Enthusiasm for fracking fades

May 26, 2015

(The News & Observer, Raleigh)

Shale-gas exploration in North Carolina is off to a slow start, due in part to low energy prices and a failure to attract investors. The state began accepting fracking permit applications in March, though none have been filed. A Wake County judge temporarily stopped the state from issuing permits earlier this month.
Related: NC argues fracking panel's work valid

Marcus Smith settles in as CEO of Speedway Motorsports

May 26, 2015

(The Independent Tribune, Concord)

Marcus Smith, who recently replaced Bruton Smith as CEO of Speedway Motorsports, says he has learned a lot from his father's work ethic and "scale of vision."

Mohawk to expand, add 105 jobs in Rockingham County

May 22, 2015

(Winston-Salem Journal)

Carpet and rug manufacturer Mohawk Industries plans to invest $8 million over five years in an expansion of its Eden operations. The company employs about 1,200 people across the state, including more than 170 in Eden.

Duke Energy begins coal-ash removal at Charlotte power plant

May 22, 2015

(Winston-Salem Journal)

Duke Energy began removing coal-ash from its Riverbend power plant west of Charlotte on Thursday. The utility is working to get permits to move most of the first 1 million tons of ash to clay mines in Chatham and Lee counties; meanwhile, the first truckloads will be sent to a lined landfill in Homer, Ga.

Company led by Vertex Rail CEO files for bankruptcy

May 22, 2015

(Greater Wilmington Business Journal)

A Massachusetts-based company led by Vertex Rail CEO Don Croteau filed for bankruptcy earlier this month. Vertex Fab & Design designs and makes components for NASA and companies such as GE Hitachi. Vertex Rail announced last year it will create 1,300 jobs in a rail-car manufacturing facility in Wilmington.

Medicaid director named chancellor of UNC Pembroke

May 22, 2015

(The News & Observer, Raleigh)

Robin Cummings will become chancellor of UNC Pembroke in July. Cummings, the state Medicaid director and a cardiothoracic surgeon, will succeed Kyle Carter, who is retiring after five years in the post.

Former Duke Energy CEO chides legislators for stance on green energy

May 22, 2015

(The Charlotte Observer)

At an energy summit in Charlotte on Thursday, former Duke Energy CEO Jim Rogers criticized state legislators over a proposal to freeze a state standard that requires utilities to purchase increasing amounts of renewable energy by 2021.