Business

Premier's Devore is NC's highest paid CEO

June 22, 2015

(The Charlotte Observer)

Susan Devore, CEO of Charlotte-based Premier, earned $24.9 million in total compensation last year, marking the first time a woman has ranked as the highest paid executive of a North Carolina-based public company.

Dunn's Select Bank to acquire 2 Yadkin branches

June 22, 2015

(The Fayetteville Observer)

Dunn-based Select Bancorp will acquire Yadkin Bank branches in Leland and Morehead City. Yadkin said in April it planned to sell or close about a half-dozen branches as part of a cost-cutting effort. The deal is expected to close in the fourth quarter. Formerly New Century Bancorp, the parent of Select Bank & Trust has 14 branches, mostly in eastern N.C. (Read more about Select Bancorp, from our June issue)

Judge finds Yadkin Valley hospital operator in contempt

June 22, 2015

(Winston-Salem Journal)

A federal judge ruled the company that operated Yadkin Valley Community Hospital must pay the county damages from May 22 – when the group abruptly closed the 20-bed hospital – until it is reopened or July 31, when its contract expires.

TE Connectivity meets goal of adding 40 jobs in Buncombe County

June 22, 2015

(Asheville Citizen-Times)

Buncombe County commissioners awarded TE Connectivity more than $37,000 in incentives in exchange for the company creating 40 jobs in Fairview over the last two years.

The paradoxical image of Vertex Rail

June 22, 2015

(Greater Wilmington Business Journal)

Seven months after Vertex Rail announced plans to hire 1,300 people at a manufacturing site in Wilmington, another company led by CEO Don Croteau has filed for bankruptcy and the company has said it joined a new joint venture with a private-equity partner and a Chinese rail-manufacturing firm.

Charlotte City Council to vote on plans for Stonewall property

June 22, 2015

(The Charlotte Observer)

Charlotte City Council will decide Monday on whether to sell a 3.8-acre parcel of uptown land to local developer Northwood Ravin, which offered nearly $14.2 million for the property, or Morgan Bond, which put in a higher bid but didn't provide a fully funded escrow account before the deadline. Four developers have bid on the property.

Proto Labs adding 170 jobs in Cary

June 19, 2015

(The News & Observer, Raleigh)

Proto Labs will invest $25 million in a new Cary facility and add 170 jobs over the next five years. The publicly-traded, Minnesota-based company acquired Raleigh-based FineLine Prototyping, a 3-D printing company, in April 2014 and currently employs 106 in Raleigh.

Wilmington shopping centers sell for $192M

June 19, 2015

(StarNews, Wilmington)

CBL & Associates Properties, a Chattanooga, Tenn.-based REIT, paid $192 million for Wilmington's Mayfaire Town Center and the smaller Mayfaire Community Center. Mayfaire Town Center, a mixed-used development, was started in the early 2000s. Anchor tenants include Belk and a 16-screen Regal Cinemas movie theater.

Asheville's 5x5 economic-development plan exceeds goals

June 19, 2015

(Asheville Citizen-Times)

Since July 2010, 36 companies have invested more than $1 billion and created 6,385 jobs in the Asheville region, according to the Asheville-Buncombe County Economic Development Coalition. The activity exceeded the goals of Asheville's 5-year economic-development plan, which aimed to create 5,000 jobs and draw $500 million in capital investment in five target sectors.

Tech entrepreneur starts Cary-based venture-capital fund

June 19, 2015

(The News & Observer, Raleigh)

David Gardner, who has founded or co-founded seven startups, has raised $10 million – with commitments for another $2 million – for Cofounders Capital, a Cary-based venture-capital fund that will invest in Triangle-based software companies.