Business

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.

Southern Pines businesses succeed at attracting U.S. Open fans

June 20, 2014

(The Fayetteville Observer)

Southern Pines city officials and business leaders say events including concerts and movies were successful at attracting U.S. Open fans to downtown and commercial districts.

Advance Auto Parts adding 600 jobs in Raleigh

June 19, 2014

(The News & Observer, Raleigh)

Advance Auto Parts will create 600 jobs with an average annual salary of $110,770 by 2017 at a corporate support center it plans to open in Raleigh. The Roanoke, Va.-based retailer will receive up to $17.4 million in state incentives if it meets hiring and investment goals. Advance acquired Raleigh-based General Parts International for more than $2 billion in January.

Report: 80% of jobs created in NC low-wage work

June 19, 2014

(Winston-Salem Journal)

A report issued Wednesday by the N.C. Justice Center says that 80% of jobs created in North Carolina from June 2009 to September 2013 paid less than $33,709 a year and more than 75,000 jobs paid less than $24,000 annually.