Business

Wal-Mart has until 2019 to fill distribution center jobs

August 19, 2014

(The Times-News, Burlington)

Wal-Mart has until 2019 to hire 450 workers at a new, $85 million Alamance County distribution center in order to receive local incentives. An earlier agreement with local governments would have required the retailer to fill the jobs by 2018, but that was based on an incorrect project completion date. 

 

BofA veteran Darnell to become vice chairman

August 19, 2014

(The Charlotte Observer)

David Darnell will become vice chairman of Bank of America and will relocate from Charlotte to Tampa, Fla. Darnell, 61, first joined the bank in 1979. He has served as co-chief operating officer since 2011.

Passenger traffic declines at Wilmington airport

August 19, 2014

(StarNews, Wilmington)

Passenger numbers are falling at Wilmington International Airport, though flights are nearly full. Airport Director Jon Rosborough says airlines are replacing their fleets of regional jets but aren't increasing the number of departures.

Dollar General submits bid for Family Dollar

August 18, 2014

(Winston-Salem Journal)

Dollar General Corp. entered a counteroffer of about $9.7 billion − $78.50 a share in cash − for Matthews-based Family Dollar Stores. Chesapeake, Va.-based Dollar Tree made an $8.5 million bid for the discount retailer in July. Goodlettsville, Tenn.-based Dollar General said its offer would create a company with sales of more than $28 billion.

Visitor spending tops $20 billion in 2013

August 18, 2014

(WRAL.com)

Visitor spending increased in 95 of the state's 100 counties in 2013, based on figures released Friday. Overall visitor spending topped $20 billion, a 4% increase over 2012. Guilford, Mecklenburg and Wake Counties each reported more than $1 billion.

Federal government approves Lenovo-IBM server deal

August 18, 2014

(The News & Observer, Raleigh)

The U.S. government approved Lenovo's pending $2.3 billion acquisition of IBM's low-end server unit. China-based Lenovo expects the deal, which will nearly double its Triangle employment of 2,200, to close by year-end.  

Mount Airy's Insteel completes $36 million acquisition

August 18, 2014

(Winston-Salem Journal)

Insteel Wire Products, a subsidiary of Mount Airy-based Insteel Industries, acquired selected assets of Bedford Heights, Ohio-based American Spring Wire Corp., the largest North American maker of valve and commercial spring wire, for about $36 million.

Harris Teeter expanding Union County distribution center

August 18, 2014

(The Charlotte Observer)

Grocery-store chain Harris Teeter, a subsidiary of Cincinatti-based Kroger Corp., will invest $5.5 million in a 50,000-square-foot expansion of its Indian Trail distribution center and will add 41 jobs over three years. 

Countrywide deal has cost BofA more than $50 billion

August 18, 2014

(The Charlotte Observer)

Bank of America's $2.5 billion acquisition of Countrywide Financial in July 2008 has cost the bank $52.7 billion, including settlements and payments to investors over faulty loans. The Charlotte-based bank is reported to be close to finalizing another $16 billion to $17 billion mortgage settlement with the Justice Department.

Sound Bank expands in New Bern

August 18, 2014

(Sun Journal, New Bern)

Sound Bank, a Morehead City-based community bank with more than $135 million in assets, opened a branch in New Bern, where it already operates a loan-production office. The bank acquired the branch from Raleigh-based VantageSouth Bank, which merged with Yadkin Bank in July.