Business

Akin to become CEO of Cone Health Oct. 1

August 27, 2014

(News & Record, Greensboro)

Terry Akin will become chief executive officer of Greensboro-based Cone Health effective Oct. 1, three months earlier than previously announced. Akin, currently president and chief operating officer, will replace Tim Rice, who is retiring.

Hundreds question safety of fracking at Reidsville hearing

August 26, 2014

(Winston-Salem Journal)

About 450 people turned out Monday for a four-hour hearing on fracking in Rockingham County. About 100 people spoke at the public meeting, the third such one held this month by the state Mining and Energy Commission. The next public hearing will be held Sept. 12 at Western Carolina University.

Charlotte proposes spending $33.5 million on arena upgrades

August 26, 2014

(The Charlotte Observer)

Charlotte City Council members will vote Sept. 8 on spending $27.5 million for improvements to Time Warner Cable Arena, plus another $6 million for maintenance over the next 10 years. The money would come from an existing hotel/motel tax and a car-rental tax.

Duke Energy Progress requests permission to cut residential solar rebates

August 26, 2014

(The News & Observer, Raleigh)

Duke Energy Progress wants to reduce the amount of upfront rebates for more than 500 homeowners that use rooftop solar arrays from $500 to $250 per kilowatt. Homes with solar panels currently receive upfront rebates between $1,000 and $5,000, plus monthly credits.

Cereal maker to open Winston-Salem distribution center

August 26, 2014

(Winston-Salem Journal)

Lakeville, Minn.-based MOM Brands, formerly known as Malt-O-Meal, has leased a 316,000-square-foot space in Winston-Salem where the cereal manufacturer plans to open a distribution center. 

Timeline uncertain for coastal wind-farm development

August 26, 2014

(StarNews, Wilmington)

At least five companies have expressed interest in developing offshore wind projects in North Carolina, though it is unclear when construction could begin. The federal government identified three offshore parcels for potential wind-energy development, including two south of Wilmington and one near Kitty Hawk.

American Heart Association says e-cigs may help smokers quit

August 26, 2014

(The News & Observer, Raleigh)

In a policy statement, the American Heart Association says electronic cigarettes could be used as a last resort to help people quit smoking. The association also recommends more regulation and research into the long-term health effects of e-cigarettes.

Burlington Technologies buys Pa. fabric maker

August 26, 2014

(News & Record, Greensboro)

Gibsonville-based Burlington Technologies acquired Keystone Weaving, a Lebanon, Pa.-based fabric manufacturer. Burlington plans to move Keystone's looms to Gibsonville and consolidate operations, creating 26 jobs.

Chapel Hill drug developer raises $7.5 million

August 26, 2014

(The News & Observer, Raleigh)

Chapel Hill-based drug developer Heat Biologics received $7.5 million in debt financing from Durham-based Square 1 Bank. The company is developing treatments for bladder cancer and lung cancer.

Lump-sum pension payments boost pay for Novant execs

August 26, 2014

(The Charlotte Observer)

Some executives of Winston-Salem-based Novant Health brought home compensation in 2013 that was up to nine times the amount they made the previous year. The health-care system distributed one-time pension payouts as a result of a switching its retirement plan to one similar to a 401(k).