Business

Cary's Saffron Technology moving headquarters to California

March 21, 2014

(The News & Observer, Raleigh)

Saffron Technology, a Cary-based data-analytics software firm, will move its headquarters to Silicon Valley, though the company plans to keep its Cary office and expects to double employment there by year-end. Saffron recently raised $7 million in new funding from Intel Capital.

Hickory's Fortran acquires Lexington communications company

March 21, 2014

(The Lexington Dispatch)

Lexington-based Wynncomm has been acquired by Hickory-based communications company Fortran Corp. in a share-exchange agreement. Wynncomm offers services including website development and telephone systems. No jobs should be affected by the acquisition.

Report says Bank of America to cut more jobs

March 20, 2014

(The Charlotte Observer)

Bloomberg reported that Bank of America is cutting jobs in its global trading and investment banking units, though the Charlotte-based bank would not confirm the report. While some of the bank's employees in those divisions are based in Charlotte, most are in New York.

Raleigh developer plans $50 million apartment complex on Wilmington waterfront

March 20, 2014

(StarNews, Wilmington)

Raleigh-based DeWitt Carolinas announced plans for a 300-unit, $50 million apartment complex along Port City Marina in downtown Wilmington. Pier 33 Apartments will include 32,000 square feet of street-level retail space.

Everts named new chancellor at Appalachian State

March 20, 2014

(The Watauga Democrat)

Sheri Noren Everts will become the seventh chancellor of Appalachian State University July 1, succeeding Ken Peacock. Everts has been provost of Illinois State University since 2008.

Foodservice-products manufacturer considers Triad for new plant

March 20, 2014

(The News & Record, Greensboro)

California-based Cambro, which makes plastic products for the foodservice industry, is considering opening a manufacturing plant in Mebane that would create 100 jobs. The company does not have an East Coast location, and likes the transportation infrastructure the Triad offers. Alamance County will hold a public hearing to consider incentives for the company on April 7.

Saunders stepping down as CEO of Mechanics and Farmers Bank

March 20, 2014

(The Herald-Sun, Durham)

Kim Saunders has stepped down from her post as president and CEO of Durham-based Mechanics and Farmers Bank. Saunders will stay on as president and chief executive of the bank's holding company, M&F Bancorp. The bank has been profitable every year since it first opened in 1908.

North State to offer ultra-fast Internet service in High Point

March 20, 2014

(High Point Enterprise)

High Point-based North State says it plans to offer gigabit Internet service by year-end to homes and businesses in High Point and parts of Greensboro. The communications company has invested $50 million upgrading its fiber network, and hopes to expand the service to other parts of the Triad if it is well-received.

Steel-related company to build plant in McDowell County

March 20, 2014

(The McDowell News)

A new company that will produce a protective application for steel products will build an 8,000-square-foot plant near Old Fort in McDowell County and create 30 jobs. XO.STEEL LLC will invest $350,000 over three years in the plant, which could expand to more than 24,000 square feet. 

Charlotte's Lincoln Harris to examine redeveloping Golf Links property

March 20, 2014

(The Charlotte Observer)

The Rea family, which owns the 187-acre land where Charlotte Golf Links operated until it was shut down last week, has asked Charlotte-based real-estate development firm Lincoln Harris to study the property for possible redevelopment.