Business

Clodfelter: Charlotte needs to work on 'cool factor'

October 22, 2014

(The Charlotte Observer) 

Charlotte's local economy has diversified and has become less dependent on the banking industry in recent years, Mayor Dan Clodfelter said at a business-networking event Tuesday. Clodfelter also told the Business Leaders of Charlotte the city needs to work on its "cool factor" to attract more young people.  

UNCG chancellor announces retirement

October 22, 2014

(News & Record, Greensboro)

UNC Greensboro Chancellor Linda Brady will retire July 31, 2015. She plans to take a sabbatical and then return as a faculty member in 2016.

Johnson & Wales president takes job at Novant Health

October 22, 2014

(The Charlotte Observer)

Art Gallagher will become vice president of Novant Health Foundation Presbyterian Medical Center and Novant Health community engagement next month. Gallagher has been president of Johnson & Wales University in Charlotte since 2003.

Cree to launch cheaper LED lightbulb

October 22, 2014

(The News & Observer, Raleigh)

Durham-based Cree plans to unveil a new LED light bulb that will be cheaper and will look more like a traditional light bulb. Cree's current generation of LED bulbs are sold exclusively at Home Depot stores.

Honda Aircraft begins $19M expansion at Piedmont Triad airport

October 21, 2014

(Winston-Salem Journal)

Honda Aircraft has begun a $19 million expansion at Piedmont Triad International Airport that will increase its space by more than 74,000 square feet. The company expects to receive FAA certification of its HondaJet light corporate aircraft in early 2015 ("Ready to take off," February). The expansion brings the company's total investment at Piedmont Triad to about $160 million.

Electrolux CEO says company remains committed to Charlotte

October 21, 2014

(The Charlotte Observer)

Jack Truong, CEO of Electrolux's North American operations, reaffirmed the company's commitment to keeping the its headquarters in Charlotte following a planned $3.3 billion acquisition of General Electric's appliance business. Electrolux reported a 42% increase in third-quarter earnings on Monday.

Lorillard CEO could get $44M payout after tobacco merger

October 21, 2014

(News & Record, Greensboro)

Lorillard CEO Murray Kessler could receive a compensation package valued at $44.7 million following his company's planned $25 million merger with Winston-Salem-based Reynolds American. Kessler also will get a seat on the combined company's board of directors when the deal closes, expected to be in the first half of 2015.

Charlotte Goodyear shop closing to make way for 27-story tower

October 21, 2014

(The Charlotte Observer)

A longstanding Goodyear auto-repair shop in downtown Charlotte is closing to make way for a 27-story mixed-use tower that will include hotel, retail and office space. Charlotte-based Crescent Communities plans to build the tower on the 3-acre site, but won't announce a construction start date until it secures an anchor tenant.

Duke scientists develop technology to identify fracking chemicals

October 21, 2014

(The News & Observer, Raleigh)

Scientists at Duke University have developed a new method to trace fracking chemicals in waterways and other drinking-water sources. The researchers say the technology could be used to identify accidental spills from shale-gas drilling.

Sierra Nevada opens tasting room at Mills River brewery

October 21, 2014

(Asheville Citizen-Times)

Sierra Nevada has opened a tasting room for visitors who complete a 90-minute walking tour of its Mills River brewery. The Chico, Calif.-based beer maker plans to open a restaurant and music room in January. Sierra will brew about 200,000 barrels of beer annually when the brewery reaches full production.