Business

High Point's Culp investing $9.5 million in fabric plants

August 7, 2014

(Winston-Salem Journal)

High Point-based Culp Inc. will invest $9.5 million to expand mattress-fabric operations at plants in the U.S. and Canada. About $7.2 million will be invested in one of the company's Stokesdale plants, though a company representative says there are no plans to add jobs at this time.

Federal Reserve approves BofA dividend increase

August 7, 2014

(The Charlotte Observer)

The Federal Reserve has approved Bank of America's resubmitted capital plan and will allow the Charlotte-based bank to raise its quarterly dividend from a penny to 5 cents. Unlike the original plan, the resubmitted plan does not include a stock buy-back.

Greensboro Partnership CEO to retire

August 7, 2014

(News & Record, Greensboro)

Pat Danahy will retire as president and CEO of the Greensboro Partnership at the end of 2014. Danahy, former president and CEO of Cone Mills Corp., has led the economic-development group since 2006.

Greensboro Kmart store to close

August 7, 2014

(Winston-Salem Journal)

Sears Holdings Corp. will close a Kmart store in Greensboro by Nov. 2, displacing 96 workers, according to a notice filed with the N.C. Commerce Department this week.

Reynolds subsidiary provided Ebola treatment made from tobacco

August 6, 2014

(Winston-Salem Journal)

An experimental drug used to treat two Americans infected with the Ebola virus in Liberia was provided by Kentucky BioProcessing LLC, a subsidiary of Winston-Salem-based Reynolds American. The treatment is made from tobacco plants. 

Dollar General considers bid for Family Dollar

August 6, 2014

(The Charlotte Observer)

Dollar General may launch a counterbid to Dollar Tree's $8.5 billion offer to buy Matthews-based Family Dollar Stores, though both the Goodlettsville, Tenn.-based retailer and Family Dollar declined comment.

Wicked Weed expanding in Buncombe County

August 6, 2014

(Hendersonville Times-News)

Asheville-based Wicked Weed Brewing will build a new production plant in Buncombe County that will allow it to brew 50,000 barrels of beer a year. The company will invest $5 million in the 40,000-square-foot plant, which is expected to open by fall 2015.

Charlotte's Premier to acquire software company for $117M

August 6, 2014

(The Charlotte Observer)

Premier Inc. will buy software provider TheraDoc for $117 million, the Charlotte-based health-care services company said Tuesday. TheraDoc is a subsidiary of Lake Forest, Ill.-based Hospira Inc.

ChannelAdvisor shares fall 30%

August 6, 2014

(The News & Observer, Raleigh)

Shares of Morrisville-based ChannelAdvisor fell 30% on Tuesday after the company released second-quarter results showing it added new customers at a slower pace than anticipated. The software company added 108 customers in the second quarter, compared with 136 in the first quarter.

About 250 attend anti-fracking meeting in Yadkinville

August 6, 2014

(Winston-Salem Journal)

About 250 people, many residents of Davie and Yadkin counties, met Tuesday night to learn about fracking. The event was organized by a grassroots group opposed to fracking in the area. A small shale basin has been identified in Davie County, but the potential for shale gas there is still unknown.