Business

Yadkin, NewBridge complete merger

March 2, 2016

(Greater Wilmington Business Journal)

Raleigh-based Yadkin Financial completed its acquisition of Greensboro's NewBridge Bank, creating a combined company with assets of $7.3 billion and 110 branches in the Carolinas.

Asheville's Biltmore Park a boon for South Buncombe

March 2, 2016

(Asheville Citizen-Times)

Retail space is 90% full, while office space is 95% full at the 10-year-old, 1,000-acre Asheville development owned by Biltmore Farms. The company owns an adjacent 100 acres for future development. The area includes 650 single-family homes, 120 apartments and 72 condos. About 2,000 people live and work in the 43-acre Town Square, an urban village that is the commercial core of Biltmore Park.

Charlotte-based Siemens exec to retire

March 2, 2016

(The Charlotte Observer)

Mark Pringle, vice president of Siemens' Charlotte Energy Hub, will retire March 31. The Charlotte plant has undergone a $350 million expansion and its workforce has doubled since Pringle, a Pittsburgh native, took over management in 2003.

Duke Energy gets approval for new Asheville power plant

March 1, 2016

(Asheville Citizen-Times)

The state Utilities Commission approved Duke Energy's $1 billion plan to build two natural-gas turbines to replace its coal-burning units at Lake Julian near Asheville. The commission rejected Duke's request to build a third unit, though the utility could seek approval for that project at a later date.

Chimerix slashes 20% of workforce after failed drug trials

March 1, 2016

(The News & Observer, Raleigh)

Durham-based drug developer Chimerix said it is refocusing development efforts for brincidofovir, its experimental antiviral treatment, after recent failed clinical trials. The company reported a $37.8 million fourth-quarter loss and plans to cut 20% of its workforce of about 130. Shares of Chimerix's stock are down 87% since Christmas.

BB&T headquarters building is potential forfeiture target

March 1, 2016

(Winston-Salem Journal)

BB&T's Winston-Salem headquarters building was listed among potential forfeiture targets if co-owner Ty Rhame is convicted in an international money-laundering scheme. An attorney for co-owner Ray Gee — who is not involved in the case — said Rhame's indictment won't affect short or long-term operation of the building. Gee and Rhame paid $60 million for the building in 2014.

CLT adding new concourse, part of $2.5B expansion plan

March 1, 2016

(The Charlotte Observer)

Charlotte Douglas International Airport began demolishing old rental-car buildings to make way for a new concourse, a $200 million project that will add nine gates for non-American Airlines traffic. Its part of a $2.5 billion plan that includes adding a fourth runway, a lobby expansion, a taller control tower and even more gates.

Cowell named to ChannelAdvisor board of directors

March 1, 2016

(WRAL TechWire)

State Treasurer Janet Cowell will receive a $50,000 retainer plus $150,000 in stock options to join the board of directors of Morrisville-based e-commerce firm ChannelAdvisor, according to a regulatory filing. Cowell, 47, was elected treasurer in 2008 and has said she will not seek re-election. She has worked for Corning, Lehman Brothers Holdings and SJF Ventures.

Director of Marine Fisheries steps down

March 1, 2016

(StarNews, Wilmington)

Louis Daniel resigned as executive director of the N.C. Division of Marine Fisheries on Monday after nine years in the post. The commission has been at the center of a debate between recreational and commercial fishermen over restrictions on flounder fishing.
Also: Embattled marine fisheries director steps down

MassMutual buying MetLife adviser group for $300M

March 1, 2016

(The Charlotte Observer)

MassMutual will pay about $300 million for MetLife's Premier Client Group, which includes about 200 workers at MetLife's retail hub in Charlotte. MassMutual, based in Springfield, Mass., says it's too soon to say how the Charlotte jobs will be impacted.