Business

Robeson County may have violated state law in approving incentives

February 18, 2015

(The Fayetteville Observer)

Robeson County may have violated the state's open meetings law when it approved incentives for an unnamed company – speculated to be poultry producer Sanderson Farms – to bring 1,000 jobs to the county. Robeson County Attorney Patrick Pait disagrees, and says there will be additional hearings on the project if it advances.

BofA's Moynihan earns less in 2014

February 18, 2015

(The Charlotte Observer)

Bank of America CEO Brian Moynihan's compensation fell to $13 million in 2014, $1 million less than the previous year. Moynihan's base salary remained the same, while his stock bonus fell to $11.5 million from $12.5 million in 2013. Annual profit for the Charlotte-based bank fell by 58%.
Related: "After the Fall," January

Chapel Hill developer selected for Wilmington's Water Street project

February 18, 2015

(StarNews, Wilmington)

Chapel Hill-based East West Partners was chosen to redevelop the Water Street parking deck in downtown Wilmington. The company's initial proposal includes 554 parking spaces, 190 apartments and more than 31,000 square feet of retail space.

Report: 60% of state job-incentive deals were canceled

February 17, 2015

(The News & Observer, Raleigh)

A report from the N.C. Justice Center says about 60% of Job Development Investment Grants issued between 2002 and 2013 were canceled because companies did not create as many jobs as promised. 

Cumberland votes in favor of Sanderson Farms incentives, Robeson approves similar deal

February 17, 2015

(The Fayetteville Observer)

Cumberland County commissioners approved incentives for Sanderson Farms to build a $95 million chicken-processing plant, while nearby Robeson County and the town of St. Pauls approved incentives for an unidentified company that closely resembles the Mississippi-based poultry processor. The Sanderson Farms plant could bring about 1,000 jobs to the region. 

Anheuser-Busch drops legal battle with Natty Greene's

February 17, 2015

(The News & Observer, Raleigh)

Anheuser-Busch has withdrawn its opposition to Natty Greene's Brewing Co.'s trademark application for the phrase "Natty Greene's," a name the Greensboro-based brewer has used for more than a decade. Anheuser-Busch had argued the phrase is too similar to its trademarked "Natty Light" phrase it uses to promote its Natural Light beer.

Kelly makes it permanent at Piedmont Triad Partnership

February 17, 2015

(Winston-Salem Journal)

Retired Wells Fargo executive Stan Kelly will serve as CEO and president of the Piedmont Triad Partnership on a permanent basis, the economic-development group said. Kelly took over the roles on an interim basis in January, replacing David Powell. Kelly retired last summer as regional president for San Francisco-based Wells Fargo.

Henderson County must wait on road, utility work at Seven Falls

February 17, 2015

(Hendersonville Times-News)

Since Seven Falls developer Keith Vinson was convicted in 2013 on fraud and conspiracy charges, Henderson County is left responsible for completing road and infrastructure work at the failed 1,400-acre development. Federal officials refused to reactivate permits for the work to be completed, and it will take six months to a year to secure new ones.

Public hearing set for offshore drilling

February 17, 2015

(StarNews, Wilmington)

The federal Bureau of Ocean Energy and Management plans to hold a public hearing Tuesday in Wrightsville Beach to discuss drilling for oil and gas off the North Carolina coast. 

Ed Mitchell closes Durham barbecue restaurant

February 17, 2015

(The News & Observer, Raleigh)

Barbecue pitmaster Ed Mitchell has closed his restaurant at the American Tobacco Campus in Durham after being open for less than a year. Mitchell says the space was too small to meet the restaurant's demands and he is looking to reopen in a larger space in the Triangle.