Business

Electrolux chairman stands behind CEO after failed merger

December 14, 2015

(The Charlotte Observer)

Electrolux CEO Keith McLoughlin's job appears to be safe despite the Swedish company's failed effort to buy General Electric's appliance division. McLoughlin is also serving as interim CEO of Electrolux's North American division, which is based in Charlotte.

Beach towns raise concern over proposed wind turbines

December 14, 2015

(StarNews, Wilmington)

Property owners at Bald Head Island and other coastal communities worry that proposed offshore wind turbines will have a negative impact on tourism and future development. The federal Bureau of Energy Management has designated three areas off the North Carolina coast for wind-energy development.

Hotel developer buys downtown Raleigh site

December 14, 2015

(The News & Observer, Raleigh)

A group controlled by Greensboro-based CN Hotels has acquired its second site in downtown Raleigh. At least four developers are planning new hotels in downtown Raleigh, which has seen an increased number of visitors in recent years.

Honda Aircraft offers peek inside Greensboro plant

December 11, 2015

(Winston-Salem Journal)

Some customers have been waiting more than six years for one of the first 20 HondaJets on display at the company's production plant in Greensboro, and at least two jets will be shipped by year-end, CEO Michimasa Fujino says. The FAA this week granted certification for the $4.5 million light aircraft, which were originally expected to be available in 2010.

LabCorp buys California lab-testing firm

December 11, 2015

(WRAL TechWire)

Burlington-based LabCorp will buy Pathology, a laboratory with 50 locations in California that provides clinical testing focused on women's health and reproductive donor testing, according to its website. Financial terms were not disclosed.

TNT series to film in Wilmington

December 11, 2015

(StarNews, Wilmington)

The Wilmington film industry received some good news Thursday: TNT will film nine more episodes of Good Behavior, a TV drama starring Downton Abbey's Michelle Dockery, in the coastal city. The pilot for the series was shot in Wilmington this fall.

Duke Energy combines chairman, CEO roles

December 11, 2015

(The Charlotte Observer)

Duke Energy CEO Lynn Good will become chairman Jan. 1, the company said Thursday. Current chairman Ann Maynard Gray will remain on the board. Piedmont Natural Gas CEO Tom Skains will become a director after Duke completes its $4.9 billion acquisition of the Charlotte-based energy company.

Sycamore Partners completes $3B buyout of Belk

December 11, 2015

(The Charlotte Observer)

Charlotte-based Belk is no longer the nation's largest family-owned department store chain. New York-based private equity firm Sycamore Partners said Thursday it has completed its purchase of the 300-store company. Belk's headquarters will remain in Charlotte, and Tim Belk will remain CEO.

Tyson Foods considers $5M Monroe expansion

December 11, 2015

(The Charlotte Observer)

Local governments approved $225,000 in incentives for Tyson Foods to expand in Union County. The chicken processor, which employs more than 1,500 people in Monroe, is considering a $5 million investment that would add 50 jobs.

Asheville City Council weighs in on I-26 route

December 11, 2015

(Asheville Citizen-Times)

The Asheville City Council voted unanimously to submit a resolution to the N.C. Department of Transportation that recommends minimizing the size of the $750 million Interstate 26 project. The state's proposal calls for widening Interstate 240 from four to eight lanes in west Asheville.