Business

Economist predicts 'robust' year in 2015

December 10, 2014

(The Charlotte Observer)

UNC Charlotte economist John Connaughton predicts unemployment rates in North Carolina will continue to fall in 2015 while wages will rise. In his quarterly state economic forecast, Connaughton said falling gas prices will allow consumers to spend more on discretionary items, contributing to economic growth.

Duke Energy gets federal OK in $1.2B power plant deal

December 10, 2014

(The News & Observer, Raleigh)

Federal regulators approved a $1.2 billion deal that will allow Duke Energy Progress to buy back four power plants that supply electricity to 32 towns in central and eastern N.C. The towns took on $3.6 billion in debt to buy minority stakes in the power plants in 1982, and their customers have paid an average of $240 to $600 more a year for electricity than Duke Progress customers (Statewide, September).

Three NC college presidents earn more than $1M

December 10, 2014

(News & Record, Greensboro)

Presidents of three private universities in North Carolina – High Point University, Duke University and Wake Forest University – were among 36 nationwide who received more than $1 million in total compensation in 2012, according to a report from Washington, D.C.-based Chronicle of Higher Education

Wells Fargo adding 83 jobs in Charlotte

December 10, 2014

(The Charlotte Observer)

Wells Fargo will create 83 jobs in Charlotte as a result of shifting operations of its legal-processing unit from Philadelphia to Charlotte and Chandler, Ariz. The San Francisco-based bank has added about 1,400 jobs in Charlotte over the past year.

NC metro-area unemployment tumbles

December 10, 2014

Twelve of North Carolina's larger metropolitan areas had unemployment rates of 6% or less in October, compared with only three a year ago, according to the N.C. Department of Commerce.

HIgh Point Regional drops trauma center designation

December 10, 2014

(High Point Enterprise)

High Point Regional Hospital voluntarily withdrew its Level 3 trauma center designation in July, according to a spokeswoman from the N.C. Department of Health and Human Services. A representative from the health system said the hospital still treats trauma patients despite the change in designation. North Carolina has 12 trauma centers across the state.

Durham's Parata Systems to lay off 110 workers

December 10, 2014

(The News & Observer, Raleigh)

Durham-based Parata Systems will lay off 110 workers over the next 90 days, according to a notice filed with the N.C. Department of Commerce. Parata makes drug-dispensing systems for pharmacies. The company expects to have about 250 employees as of March 1.

Craft breweries seek creative names to stand out in crowded field

December 10, 2014

(Asheville Citizen-Times)

Craft breweries look for clever names to stand out in a crowded and ever-growing marketplace. Asheville Brewing uses 40 to 60 names a year, including some with comic-book names such as Rocket Girl and Ninja.

 

Wake Forest to build $100M medical school

December 9, 2014

(Winston-Salem Journal)

Wake Forest Baptist Medical Center will move its medical-education programs to its Innovation Quarter research park in downtown Winston-Salem. Half the funds for the $100 million project will come from a capital campaign while the other half will come from historic tax credits. The building is expected to open to medical students in July 2016.

Wells Fargo most valuable U.S. bank ever

December 9, 2014

(The Charlotte Observer)

With a market capitalization of $285.5 billion, Wells Fargo is now the most valuable U.S. bank ever, according to data compiled by Bloomberg based on shares outstanding as of Oct. 31. The San Francisco-based bank's largest employee base is in Charlotte, where it has about 22,100 workers.