Business

Hospitals closely watching Medicaid debate in state legislature

June 12, 2014

(The Fayetteville Observer)

Hospitals in North Carolina will be lobbying for the Medicaid spending plan in the state House budget proposal, which does not include major cuts to the program as proposed in the N.C. Senate's budget plan.

Pisgah Inn operator will fight for contract renewal

June 12, 2014

(Asheville Citizen-Times)

The park-concession contract to run the Pisgah Inn on the Blue Ridge Parkway is open for bid. Bruce O'Connell, who gained national attention last year when he defiantly kept the inn open during the federal government shutdown, has operated it for 40 years but now will face competition from larger companies with deep capital.

BASF completes RTP expansion, will invest more in agricultural products

June 12, 2014

(The News & Observer, Raleigh)

BASF has completed a $30 million expansion at Research Triangle Park and the company plans to double its investment in its Plant Science division over the next five years. BASF employs more than 1,000 people at three locations in North Carolina.

Raleigh approves initiative to recruit startups

June 12, 2014

(WRALTechWire.com)

The Raleigh City Council will develop a startup recruitment plan to help lure businesses in fields including technology, social innovation and fashion.

Raleigh's First Citizens to acquire SC-based bank

June 11, 2014

(The News & Observer, Raleigh)

Raleigh-based First Citizens Bancorp will merge with the parent company of Columbia, S.C.-based First Citizens Bank and Trust, a privately held bank with 176 branches. Frank Holding Jr., chairman and CEO of the Raleigh-based First Citizens, will lead the combined bank. The Holding family owns a controlling interest in both banks.

B/E Aerospace plans to split into two companies

June 11, 2014

(Winston-Salem Journal)

B/E Aerospace revealed plans to split the Wellington, Fla.-based company into two publicly traded corporations. One would focus on the manufacturing of aircraft cabin equipment, and the other would handle distribution, logistics and technical services. B/E's largest U.S. operations are in Winston-Salem, where it employs more than 1,300. 

Group says Duke doesn't need to increase rates to pay for coal-ash cleanup

June 11, 2014

(WRAL.com)

A Cleveland, Ohio-based nonprofit research group said Duke Energy can afford to clean up coal-ash ponds across North Carolina without increasing rates for customers. The Charlotte-based utility has estimated the cleanup could cost between $2 billion and $10 billion.

HomeTrust Bank to acquire 10 BofA branches

June 11, 2014

(Winston-Salem Journal)

Asheville-based HomeTrust Bank will buy 10 Bank of America branches including one in Eden. The other nine are in southwestern Virginia. Charlotte-based Bank of America also will sell six branches, including one in Mount Airy, to Bluefield, Va.-based First Community Bancshares.

Carolinas HealthCare CEO warns of further cuts in healthcare industry

June 11, 2014

(The Charlotte Observer)

The CEO of Carolinas HealthCare System said Tuesday that the N.C. Senate's proposed cuts to Medicaid will jeopardize the financial health of hospitals. Michael Tarwater cited recent job cuts at hospitals across the state, including at High Point Regional and Wake Forest Baptist Medical Center.

PNC Bank names Hansen regional president

June 11, 2014

(The News & Observer, Raleigh)

PNC Bank named Jim Hansen regional president of its Eastern North Carolina market. Hansen led the Pittsburgh-based bank's northern Alabama region for the past four years. He grew up in Winston-Salem and previously worked at RBC Bank in Raleigh, which was acquired by PNC in 2012. He replaces Paula Fryland.