Business

NC Bankers Association names Ayotte chairman

June 10, 2014

(The News & Observer, Raleigh)

The N.C. Bankers Association elected Mike Ayotte, CEO of Morganton Savings Bank, its new chairman. He succeeds Ron Black, CEO of Bank of Oak Ridge. BNC Bancorp President Rick Callicutt was elected vice chairman of the trade group. 

Audit shows Fayetteville VA center has longest wait times in country

June 10, 2014

(The Fayetteville Observer)

A nationwide audit shows patients at the Fayetteville VA Medical Center have the longest wait times in the U.S. Patients there wait an average of 29 days for a primary care appointment; new patients wait an average of 83 days.

Forsyth approves incentives for furniture plant

June 10, 2014

(Winston-Salem Journal)

Forsyth County commissioners approved $150,000 in incentives for United Furniture Industries to open a manufacturing plant. The company would need to create 200 jobs to receive the incentive. Winston-Salem has already approved a $150,000 performance-based incentive for the company, which would invest $5.8 million in upgrading the historic Weeks plant.

Foster named executive vice president of Cone Health

June 10, 2014

(Winston-Salem Journal)

Mickey Foster was named president of The Moses H. Cone Memorial Hospital in Greensboro and executive vice president of Cone Health. He was president of Cone's Annie Penn Hospital since 2010. Foster succeeds Judy Schanel, who recently became executive vice president of acute care services for the health-care system.

Allegiant to double number of flights from Concord

June 10, 2014

(The Charlotte Observer)

Low-cost airline Allegiant Air will increase the number of flights from Concord to Orlando from two to four times a week beginning Nov. 2. The Las Vegas-based carrier became the regional airport's first commercial carrier in December.

Cisco to add 550 jobs at RTP

June 9, 2014

(WRALTechWire.com)

Cisco Systems will expand its workforce at Research Triangle Park by 10% and will invest $1.6 million. Average annual salary for the 550 new jobs will be $72,700. The San Jose, Calif.-based telecommunications equipment manufacturer will receive up to $12.9 million in state incentives.

Icahn buys 9.4% stake in Family Dollar

June 9, 2014

(The Charlotte Observer)

Investor Carl Icahn has purchased a 9.4% stake in Matthews-based Family Dollar. In a securities filing, Icahn said he possibly will seek a seat on the board of directors or "explore strategic alternatives" for the company. The discount retailer laid off 135 workers at its headquarters in April and announced plans to close 370 stores.

Pinehurst readies for back-to-back U.S. Opens

June 9, 2014

(News & Record, Greensboro)

The U.S. Open's success in Pinehurst is due in part to support from metro areas including Charlotte, Greensboro and Raleigh, according to Reg Jones, the Open's director of operations. Officials expect up to 55,000 people per day to attend this week's Open and as many as 25,000 for the Women's Open next week.

NewBridge Bank looks to SC, Virginia markets for expansion

June 9, 2014

(Winston-Salem Journal)

NewBridge Bank may be looking to expand in South Carolina and Virginia markets, based information presented at a recent shareholder meeting. The Greensboro-based bank has $2.4 billion in assets and recently completed acquisitions of Raleigh-based CapStone Bank and Southport's Security Savings Bank.

BofA negotiating $12 billion settlement over mortgage probes

June 9, 2014

(The Charlotte Observer)

Bank of America is in the early stages of negotiating a settlement of at least $12 billion over federal and state investigations of its mortgage-banking practices that preceded the 2008 financial crisis.