Business

Sonic Automotive reports Q2 results

July 21, 2015

(The Charlotte Observer)

Sonic Automotive reported revenue of $2.4 billion in the second quarter, a 3% increase over the same period a year ago. Net income fell 45% as expenses grew. The Charlotte-based auto dealer said it plans to expand its One Sonic One Experience sales model, which aims to streamline the car-buying experience, and add more EchoPark used-car dealerships over the next year.

Wilmington home sales best in 9 years

July 21, 2015

(StarNews, Wilmington)

Realtors in the Wilmington area reported the strongest June home sales in nine years, with 802 single-family homes sold for a total of $207.5 million.

AT&T expands ultra-fast Internet service to Durham, Greensboro

July 21, 2015

(WRAL TechWire)

AT&T launched its GigaPower high-speed Internet service in Durham and Greensboro on Monday. The service is now available in eight North Carolina cities. Prices start at $70 a month.

Report ranks highest-paid bank CEOs

July 20, 2015

(The Charlotte Observer)

JPMorgan Chase CEO Jamie Dimon is now the highest-paid U.S. bank CEO, earning $27.7 million in 2014. Second was John Stumpf, CEO of Wells Fargo, according to a report by SNL Financial. Bank of America's Brian Moynihan came in sixth while BB&T's Kelly King was ninth.

Whitaker Park developers consider best uses for campus

July 20, 2015

(Winston-Salem Journal)

Developers of Whitaker Park in Winston-Salem are working to determine the best uses for the 54-year-old manufacturing campus. United Furniture Industries is considering a portion of the site for a 350,000-square-foot distribution center that would employ between 50 and 70 employees.

With light rail on the way, Charlotte's NoDa attracts developers

July 20, 2015

(The Charlotte Observer)

Charlotte's NoDa neighborhood could see the biggest transformation when the 9.3-mile light-rail extension connecting downtown and UNC Charlotte is completed in 2017. Crescent Communities already plans to build 800 residential units at a proposed light-rail stop in NoDa.

Asheville's low wages linked to GDP

July 20, 2015

(Asheville Citizen-Times)

Workers in the Asheville area earn less than people living in other regions because its employers don't produce "high-value" products, local economists say.

Nonprofit wants PacWest to submit community investment plan for Durham

July 20, 2015

(The Herald-Sun, Durham)

Reinvestment Partners wants the federal government to delay approval of Square 1 Bank's proposed acquisition by Calif.-based Pacific Western Bank. The nonprofit is concerned that PacWest won't meet community-credit needs after the deal closes. Square 1, which loans money to startups and venture capitalists, holds a 36% market share of deposits in Durham County.

High Point shopping center sold for $6.25M

July 20, 2015

(News & Record, Greensboro)

Verris Capital paid $6.25 million for the 63,306-square-foot Eastchester Shopping Center in High Point. The seller was Florida-based MS Eastchester.

Tech company bringing 200 jobs to Durham

July 17, 2015

(The News & Observer, Raleigh)

Interactive Intelligence plans to expand in Durham, adding 200 workers with an average annual salary of $70,000. The Indiana-based company develops software for call centers and other businesses. Interactive currently employs 130 at its Durham location.