Business

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.

Family Dollar adopts poison pill to delay potential takeover

June 10, 2014

(The Charlotte Observer)

In response to investor Carl Icahn's announcement that he has bought 9.4% of Family Dollar's stock, the Matthews-based company has added a "poison pill" provision that will kick in if any investor buys more than 10% of its stock. The poison pill would trigger the issuance of new stock, making shares less valuable. 

Pittsboro approves 7,500-acre Chatham Park community

June 10, 2014

(The News & Observer, Raleigh)

The Pittsboro Board of Commissioners voted 4-1 to approve the master plan for Preston Development Co.'s Chatham Park, a 7,500-acre community that could bring 60,000 residents over several decades. Developers tout the plan as "smart growth" that will help the city avoid problems associated with urban sprawl.

Wells Fargo now top SBA lender in NC

June 10, 2014

(The Charlotte Observer)

Wells Fargo has become the top SBA lender in North Carolina, approving 94 SBA loans between Oct. 1 and May 31, an increase of 21% over the same period for the previous fiscal year. Winston-Salem-based BB&T has approved 27 SBA loans during the same period.