Business

Longtime SAS employee Jim Davis resigns

December 9, 2015

(The News & Observer, Raleigh)

Jim Davis, a 21-year employee of Cary-based SAS Institute, will take a new job at Informatica, a California-based software company. Davis has been chief information officer of SAS since 2001. SAS, which provides analytics software for corporations, government agencies and educational institutions, employs more than 7,000 in Cary.

Resort proposal sparks debate in Rutherford County

December 9, 2015

(Asheville Citizen-Times)

A $3.7 million proposed development on Lake Lure in Rutherford County has homeowners divided. Tryon Equestrian Partners wants to add a conference center, restaurant and expanded lodge that would provide an economic boost and create 20 full-time jobs, plus seasonal ones. Opponents say the development would increase traffic and spoil the area's peaceful vibe.

GE cancels Electrolux deal, seeks $175M breakup fee

December 8, 2015

(The Charlotte Observer)

Shares of Electrolux fell the most in more than four years after General Electric said Monday it is calling off plans to sell its appliance division to the Swedish company. The U.S. Justice Department had sued Electrolux, seeking to block the merger due to antitrust issues. Electrolux employs about 900 people at its North American headquarters in Charlotte.

Cabarrus mulls incentives for $66M FedEx hub

December 8, 2015

(The Charlotte Observer)

Concord City Council will hold a public hearing Thursday on providing incentives for a FedEx distribution center that would employ more than 350 people over the next five years.

Philips to lay off 50 at Pender County plant

December 8, 2015

(StarNews, Wilmington)

At least 50 people will lose their jobs when Philips closes its plant in Burgaw. Layoffs will begin April 1 and the plant will close by Sept. 1. The Netherlands-based lighting-products manufacturer previously announced it was closing its only other North Carolina plant in Henderson by Jan. 1.

NC lawmakers seek probe of MillerCoors' plant closure

December 8, 2015

(News & Record, Greensboro)

Senate President Pro Tem Phil Berger and Rep. Bert Jones sent a letter signed by 112 North Carolina lawmakers to a U.S. Senate subcommittee seeking an investigation of MillerCoors' decision to close its Eden brewery, idling 520 workers. The announcement was made three days before the MillerCoors' parent company began public merger talks with AB InBev.

Community bank consolidation part of nationwide trend

December 8, 2015

(The Charlotte Observer)

The pending sale of CommunityOne Bancorp to Florida-based Capital Bank will leave Charlotte with just three community bank headquarters, down from seven in 2007. The consolidation of community banks means more market share is being concentrated in the nation's biggest banks, according to a recent report.

North Hills breaks ground on 12-story office building

December 8, 2015

(WRAL.com)

Construction crews broke ground Monday on Midtown Plaza, a 12-story building in Raleigh's North Hills area that is being developed by Kane Realty. Chicago-based Allscripts Healthcare Solutions will lease space in the 330,000-square-foot tower. Construction is expected to be complete by spring 2017.

Coughlin ousted as CEO of Cabarrus Chamber

December 8, 2015

(The Independent Tribune)

The executive committee of the Cabarrus Regional Chamber of Commerce voted unanimously to terminate CEO Patrick Coughlin's employment agreement after less than a year on the job. Board member and past chairman Terry Crawford was named interim CEO.

NCDOT contracts with company to operate rail spur serving Global TransPark

December 8, 2015

(The Sun Journal, New Bern)

Gulf & Ohio Railways will operate a 5.7-mile rail spur that will connect freight from the Global TransPark in Kinston to New Bern and Port of Morehead City. The cost of the project is $14.3 million.