Business

Duke Energy-Progress merger upheld

March 5, 2014

(The Charlotte Observer)

The N.C. Court of Appeals ruled against two groups challenging the 2012 merger between Duke Energy and Progress Energy which created the nation's largest utility. Advocacy group NC WARN said it would likely appeal the ruling before the N.C. Supreme Court.

Reynolds-Lorillard deal could lead to job cuts in the Triad

March 5, 2014

(The Winston-Salem Journal)

An industry analyst says a merger between Winston-Salem-based Reynolds American and Greensboro-based Lorillard could lead to hundreds of job losses in the Triad. 

Trader Joe's representative says company won't open Greensboro store

March 5, 2014

(The News & Record, Greensboro)

After protests and public debate over plans for Trader Joe's to open its first grocery store in Greensboro, a company spokeswoman says the Monrovia, Calif.-based company is no longer interested in the proposed site or any other locations in Greensboro. 

Allegiant to begin nonstop service from Asheville to Palm Beach, Fla.

March 5, 2014

(Asheville Citizen-Times)

Allegiant Air will begin nonstop flights from Asheville to Palm Beach, Fla. beginning in May. Las Vegas-based Allegiant has added nonstop flights to Florida destinations including Orlando, Tampa, Fort Lauderdale and Fort Myers over the past several years.

Charlotte-based union of US Airways pilots files lawsuit over seniority

March 5, 2014

(The Charlotte Observer)

A union representing US Airways pilots has filed a lawsuit over who should have seniority after the airline's merger with American Airlines. Seniority is a factor in deciding which routes and planes pilots fly, which determines how much money they make. 

Buncombe commissioners approve funding for Moogfest

March 5, 2014

(Asheville Citizen-Times)

The Buncombe County Board of Commissioners approved a request to give $90,000 to Moogfest, the annual electronic music festival to be held in April that will expand this year to include a technology expo. Festival organizers expect a $30 million economic impact from the five-day event.

British media outlets say Reynolds American may acquire Lorillard

March 4, 2014

(The Winston-Salem Journal)

Two British media outlets reported that Winston-Salem-based Reynolds American could offer $18 billion to $22 billion to purchase rival Lorillard. The two tobacco companies are reported to be in negotiations, though neither company would comment on the speculation.

National parks made $2 billion impact on Western NC in 2012

March 4, 2014

(Asheville Citizen-Times)

A National Park Service study shows that visitors to the Blue Ridge Parkway, Carl Sandburg Home and the Great Smoky Mountains National Park in Western N.C. supported 23,201 jobs in 2012 and made a $2 billion economic impact on the region.

Charlotte to host CIAA tournament for six more years

March 4, 2014

(The Charlotte Observer)

The CIAA announced it will keep its annual basketball tournament in Charlotte for another six years, and it will relocate its headquarters there from Hampton, Va. After tournament officials said they may seek proposals from other cities to host the tournament after this year, the Charlotte Regional Visitors Authority increased its financial commitment to the CIAA from $1 million to $1.4 million. 

Wilson Medical Center now part of Duke LifePoint

March 4, 2014

(The Wilson Times)

Wilson Medical Center finalized a joint venture that gives Duke LifePoint Healthcare an 80% ownership stake in the hospital. Terms of the agreement include $120 million in capital improvements over the next decade.