Business

Asheville's Biltmore Village attracts new merchants

May 19, 2015

(Asheville Citizen-Times)

Asheville's historic Biltmore Village is thriving, with nine new independent merchants slated to open by June. Retail shops and restaurants there have reported a 5 to 20% increase in sales from 2013-14.

AG Cooper sues FCC over Wilson broadband ruling

May 18, 2015

(WRAL TechWire)

N.C. Attorney General Roy Cooper has filed a lawsuit against the Federal Communications Commission over the agency's decision to allow the city of Wilson to expand its municipal broadband network outside the city limits (Statewide, March).

Shareholders question NewDominion's plan to raise capital

May 18, 2015

(The Charlotte Observer)

Leaders of Charlotte-based NewDominion Bank plan to raise capital by issuing millions of preferrred shares to the bank's largest investors, and some say the proposal puts common shareholders at a disadvantage. One of three community banks based in Charlotte, NewDominion has not posted an annual profit since 2008.

What top Triad executives earned in 2014

May 18, 2015

(Winston-Salem Journal)

An analysis of the 10 highest-paid executives of companies with a major presence in the Triad shows each received at least $10 million in total compensation in 2014, though base salaries weren't the largest part of their pay packages.

South side of downtown Charlotte poised for growth

May 18, 2015

(The Charlotte Observer)

The Stonewall Street corridor in downtown Charlotte, which consists largely of vacant parcels and surface parking lots, is experiencing a construction boom, with hundreds of apartments, hotels and offices planned. 

Wake Forest Innovation Quarter fuels growth in downtown Winston-Salem

May 18, 2015

(Winston-Salem Journal)

Originally conceived as a research park in downtown Winston-Salem in the early 1990s, Wake Forest Innovation Quarter has evolved but is still a work in progress. The innovation district, which is anchored by Inmar, Wake Forest Baptist Medical Center and a Wells Fargo data center, has 85 acres of developed land with 60 acres to be developed.

Family Dollar considered going private in 2007

May 18, 2015

(The Charlotte Observer)

Matthews-based Family Dollar Stores, which is being acquired by Dollar Tree, looked at going private in 2007, the same year rival Dollar General was bought by KKR. The private-equity firm has been credited with improving operations and ultimately turning Dollar General around.

Royalty Exchange looks at selling business

May 18, 2015

(The News & Observer, Raleigh)

Morrisville-based Royalty Exchange is considering winding down operations or selling the business as it struggles to raise new funding. Founded in 2011, the company offers an online marketplace for songwriters and producers to sell royalty streams to investors. The company also auctions royalty rights from energy projects including wind and solar.

Prosecutors: Duke Energy ignored warnings prior to ash spill

May 15, 2015

(The Charlotte Observer)

Federal prosecutors said Duke Energy twice refused to spend $20,000 on internal video inspections of the 48-inch broken pipe that led to the massive coal-ash spill into the Dan River in February 2014. The Charlotte-based utility was sentenced Thursday and must pay $102 million in fines and for environment projects.

Rex Hospital manager steps down after investigation

May 15, 2015

(The News & Observer, Raleigh)

The director of the emergency department at Raleigh's Rex Hospital has stepped down following a federal investigation into the medical center's treatment of a violent, mentally ill patient.
Also: Rex borrows $150 million to build heart center