Business

Kinston chef teams up with Chapel Hill's Southern Season

October 10, 2014

(The News & Observer, Raleigh)

Kinston's Vivian Howard, a local chef who has gained national attention as star of the award-winning PBS series "A Chef's Life," has partnered with Chapel Hill-based Southern Season to develop a line of gift baskets. The wooden crates, which range in price from $40 to $290, are on sale at Southern Season stores in Chapel Hill, Charleston, S.C., and Richmond, Va., and through the store's website.

Charlotte gains more talented newcomers

October 10, 2014

(The Charlotte Observer)

Charlotte's growth rate between 2003 and 2013 was nearly three times the national rate, and its diversifying economy is attracting more educated newcomers to the city, according to a recent study by Atlanta-based Market Street Services.

Raleigh tech hub signs e-textbook company as first big tenant

October 10, 2014

(WRAL TechWire)

Raleigh-based Vital Source Technologies signed on as the first major tenant at 227 Fayetteville St., a 10-story office building in downtown Raleigh that was formerly occupied by Wachovia and is undergoing an $8 million renovation. The e-textbooks company, a subsidiary of Nashville, Tenn.-based Ingram Industries, will lease 20,000 square feet.

Longtime Raleigh Chamber CEO to retire

October 9, 2014

(The News & Observer, Raleigh)

Harvey Schmitt will retire as CEO of the Greater Raleigh Chamber of Commerce after 21 years in the post. Schmitt, 65, said in an statement he plans to remain in Raleigh and he is not calling this a retirement. 

Charlotte's Carlisle Cos. to buy Minneapolis paint business for $590M

October 9, 2014

(The Charlotte Observer)

Carlisle Cos. will pay $590 million in cash for Minneapolis-based Graco's liquid paint-finishing business. If regulators approve the deal, the purchase will give the Charlotte-based manufacturer a fifth business segment, which will be known as Carlisle Fluid Technologies. The company sold its underperforming transportation segment last year.

Former Wachovia building could become Raleigh tech hub

October 9, 2014

(WRAL TechWire)

Developers will host a media event this morning regarding a 10-story office building in downtown Raleigh where New York-based LRC Opportunity Fund announced an $8 million renovation in January 2013. A website for the 227 Fayetteville Street says the 110,000-square-foot building will provide office space for "small startup businesses and entrepreneurs."

Forsyth Tech opens training center at Wake Forest Innovation Quarter

October 9, 2014

(Time Warner Cable News)

Forsyth Technical Community College unveiled a 24,000-square-foot technology center at Wake Forest Innovation Quarter. More than 1,200 students a year will learn work-related skills in fields including biotechnology and nanotechnology at the $7 million center.

 

Loan on Wilmington's Independence Mall in default

October 9, 2014

(Greater Wilmington Business Journal)

Fitch Ratings reported that the owner of Wilmington's Independence Mall has defaulted on a $110 million loan. The 1-million-square-foot mall was built in 1979 and is 86% occupied, according to a recent report. 

Raleigh-based Red Hat completes $700 million offering

October 9, 2014

(The News & Observer, Raleigh)

Red Hat completed a previously announced sale of $700 million worth of senior convertible notes and plans to use $375 million of the proceeds to repurchase shares of its common stock. The Raleigh-based software company will use another $257 million for general corporate purposes that could include future acquisitions.

Aramark opens healthcare training and technology center in Charlotte

October 9, 2014

(The Charlotte Observer)

Philadelphia-based Aramark opened a Technology & Innovation Center in the same business park as its existing operations near uptown Charlotte. The 105,000-square-foot space will be used as a training center for the company's biomedical technicians and engineers and to test medical equipment before it is distributed to hospitals and health-care systems.