Business

Prince Charles renovation hinges on tax credit

February 9, 2015

(The Fayetteville Observer)

The developer tasked with rehabbing the historic Prince Charles Hotel in downtown Fayetteville is hopeful Gov. Pat McCrory will persuade the state General Assembly to bring back the historic-property tax credit. The credit, which expired Jan. 1, helped redevelop nearly 2,500 properties in the state between 1998 and 2014. 

Burlington, Chapel Hill named nerdiest cities in NC

February 9, 2015

(The Times News, Burlington)

Real-estate blog Movoto ranked Burlington and Chapel Hill among the top 50 "Nerdiest Small Cities in America." The website considered the number of comic-book stores, video-game stores, hobby shops, computer shops and museums in compiling the rankings. 

BofA's reputation ranks among worst in the U.S.

February 9, 2015

(The Charlotte Observer)

A survey released last week placed Bank of America among the least favorable U.S. corporations. The Harris Poll survey ranked the 100 most visible companies in the nation. New York-based Goldman Sachs had the worst reputation, while Charlotte-based BofA ranked in the bottom 10. 

Guilford commissioners mull changes to incentives policy

February 9, 2015

(High Point Enterprise)

Guilford County commissioners are considering a new economic-development incentives policy that would require a business to create at least 50 jobs that pay 100% of the county's average wage. The commissioners will take up the issue at a work session later in the year.

Morrisville-based SciQuest beats earnings estimates

February 9, 2015

(The News & Observer, Raleigh)

Morrisville-based SciQuest reported fourth-quarter revenues that beat analysts' expectations. The software company, which added 17 new customers in the quarter, also posted net income of $200,000 compared with a loss of $1 million in the fourth quarter of 2013. The company's stock is down 38% over the past year (NCtrend, September 2014)

Chiquita leaving Charlotte by year-end

February 9, 2015

(The Charlotte Observer)

Chiquita Brands International has begun layoffs in Charlotte, and the produce company plans to leave the city by the end of 2015, sooner than previously announced. The produce company said last month it would move its headquarters over 12 to 18 months after it was acquired by two Brazilian companies for $631 million.

Quintiles founder steps down as chairman

February 9, 2015

(WRAL TechWire)

Dennis Gillings will step down as chairman of Durham-based Quintiles later this year. Gillings co-founded what is now the world's largest contract-research organization more than three decades ago. He will remain a member of the board.

Durham-based Scynexis announces leadership changes

February 9, 2015

(The News & Observer, Raleigh)

Marco Taglietti will become CEO of Durham-based Scynexis April 1, replacing Yves Ribeill, who will remain president. Chief Medical Officer Carole Stable is also stepping down. Scynexis is developing a treatment for life-threatening fungal infections. 

Snyder's Lance adds healthy-snack division

February 9, 2015

(The Charlotte Observer)

Snyder's-Lance will add a new division focused on healthy snacks, the Charlotte-based company announced last week. The company increased its equity in organic-chip manufacturer Late July Snacks in November.

Greenboro-based Cone Health reports increase in excess revenue

February 9, 2015

(Winston-Salem Journal)

Greenboro-based Cone Health reported $19.5 million in excess revenue for the first fiscal quarter, up 88.7%. The health system also reported a 9.2% increase in operating revenue, citing high patient volumes related to the flu.