Business

AOL founder Steve Case looks to invest in Triangle startup

March 17, 2015

(WRAL TechWire)

Steve Case, co-founder and former CEO of America Online, plans to invest $100,000 in a Triangle startup as part of his third "Rise of the Rest" tour. Case will visit six cities in early May and plans to invest $100,000 at each stop.

BB&T cuts pay for CEO, other top executives

March 17, 2015

(The Charlotte Observer)

Compensation fell for BB&T's top executives after the bank's performance for return on common equity fell below what was projected. In a securities filing on Monday, the Winston-Salem-based bank said it lowered the maximum cash bonuses for top executives from 150% to 125% of their base salary. CEO Kelly King's compensation fell 8.2% to $7.2 million.

Buncombe commissioners to discuss economic-development project

March 17, 2015

(Asheville Citizen-Times)

Buncombe County commissioners will meet in a closed session Tuesday to discuss an undisclosed economic-development issue. Following the meeting, the commissioners will begin a retreat to talk about zoning and land issues, economic development and the county's 2016 budget.

Valeant plans to raise offer for Salix

March 16, 2015

(The News & Observer, Raleigh)

Valeant Pharmaceuticals plans to increase its cash offer for Salix Pharmaceuticals from $158 a share to more than $160 a share, according to a New York Times report. Endo International last week submitted a competing bid for Raleigh-based Salix at $175 a share, mostly in stock.

ZeekRewards receiver works to reimburse victims

March 16, 2015

(Winston-Salem Journal)

Kenneth Bell, the Charlotte-based attorney who is the court-appointed receiver in the ZeekRewards.com case, says the power of the Internet allowed the Lexington-based scheme, in which more than 800,000 people lost money, to expand into 157 countries. Owner Paul Burks' next court appearance is Monday in Charlotte.

Plans for upscale apartment complex stirs controversy in Asheville

March 16, 2015

(Asheville Citizen-Times)

Some community leaders are expressing reservations about a proposed 140-unit apartment complex in downtown Asheville. While the complex would help address a shortage of rental units downtown, opponents worry the market-based rents proposed by the developer will be unaffordable for many people who work there.

Concord's Alevo seeks to hire veterans

March 16, 2015

(The Independent Tribune, Concord)

Alevo Group wants to hire veterans for advanced engineering positions at its manufacturing headquarters in Concord, where it will make battery-cell storage containers. The company took over the 3.5 million-square-foot former Philip Morris plant and announced last year it plans to hire 2,500 people within three years (Statewide, December).

UNC Wilmington chief of staff leaving for Clemson

March 16, 2015

(Greater Wilmington Business Journal)

Max Allen, chief of staff at UNC Wilmington, will leave to take a similar position at Clemson University beginning June 1. Allen is the sixth UNCW administrator to announce plans to leave in the past year.

Robeson attracts $139 million poultry investment

March 13, 2015

Robeson County, an eastern North Carolina county hard hit by declining manufacturing employment, attracted a $139 million poultry operation that is expected to employ 1,100 people within three years.

S&P revises bond ratings for Rex, UNC Hospitals

March 13, 2015

(The News & Observer, Raleigh)

Standard & Poor's Rating Services downgraded its credit rating for Rex Healthcare and UNC Hospitals from stable to negative. Chapel Hill-based UNC Health Care posted a $31.2 million loss in 2014 due to expenses related to electronic medical records and recent acquisitions and investments. Rex is expected to take on about $315 million in long-term debt to pay for construction of a new $235 million heart and vascular hospital on its Raleigh campus.