Business

Analyst sees value in Reynolds' natural-tobacco subsidiary

June 23, 2014

(Winston-Salem Journal) 

A leading analyst says Reynolds American has an "unappreciated asset" in its Santa Fe Natural Tobacco Co. subsidiary, and a sale or spin-off of the company, which could be worth up to $6 billion, makes sense whether or not Winston-Salem-based Reynolds moves to acquire Greensboro-based rival Lorillard.

Whitfield promoted to head of business affairs at UNCW

June 23, 2014

(Greater Wilmington Business Journal)

Rick Whitfield will become vice chancellor for business affairs at UNC Wilmington July 1. Whitfield, who has 35 years of experience in higher education, has been the university's associate vice chancellor of business affairs since 2010. He succeeds Charles Maimone, who accepted a similar position at UNC Greensboro.

NC needs better strategy to retain college graduates

June 23, 2014

(The News & Observer, Raleigh)

North Carolina must do a better job of keeping talented college graduates here, and one way to do that could be through city-sponsored internship programs that connect interns with other young professionals.  

Icahn: Family Dollar must be sold

June 20, 2014

(The Charlotte Observer)

Investor Carl Icahn, who revealed earlier this month he has a 9.4% stake in Matthews-based Family Dollar, told company CEO Howard Levine in a letter that the discount store chain must be put up for sale immediately. The letter also says Icahn wants three seats on the board of directors that would form a committee to explore the sale of the company.

Lassiter says state incentive programs need improvement

June 20, 2014

(StarNews, Wilmington)

John Lassiter, head of the new N.C. Economic Development Partnership, said the state's incentive system is "not sufficient to make us competitive" and that N.C. needs a closing fund to help keep large development projects from going to other states. Lassiter made the comments at a Wilmington event sponsored by a local business advocacy group.

Cree LED bulbs light up San Francisco Bay bridge

June 20, 2014

(WRAL TechWire)

Durham-based LED lighting company Cree supplied more than 51,000 bulbs for the new East Span of the San Francisco-Oakland Bay Bridge in California. Cree says the LED bulbs will last 15 years and will cut energy costs for the bridge by 50%.

Brad Daugherty to open Asheville restaurant

June 20, 2014

(Asheville Citizen-Times)

Black Mountain native Brad Daugherty will open Daugherty's American Kitchen and Drink, a seafood-heavy "casual-upscale" restaurant in south Asheville on July 16. It will be the first restaurant for the former NBA star and NASCAR analyst.

Judge rules SEC case against BofA can move forward

June 20, 2014

(The Charlotte Observer)

A federal judge ruled the Securities and Exchange Commission can proceed with a lawsuit filed in August against Bank of America over the sale of mortgage-backed bonds that were riskier than investors were told.

Charlotte leaders learn how Minneapolis landed the Super Bowl

June 20, 2014

(The Charlotte Observer)

The Charlotte Chamber, on its annual visit to explore how other U.S. cities are run, spent time with Minneapolis city leaders to learn how they won bidding for the 2018 Super Bowl. Minneapolis-St. Paul has a $1 billion stadium under construction that helped it win the bid over more experienced cities.

Eaton settles 10-year legal case involving Clemmons aerospace company

June 20, 2014

(Winston-Salem Journal)

Cleveland-based Eaton Corp. will pay $135.5 million to Berwyn, Pa.-based Triumph Group, parent company of a Clemmons-based aerospace company, to settle a 10-year-old legal battle. Eaton also will pay $12.2 million to six employees of Frisby Aerospace Corp. who had previously worked for Eaton.