Business

Ashley Furniture could be for sale

June 3, 2015

(Winston-Salem Journal)

Privately held Ashley Furniture has hired investment bank Goldman Sachs to help it explore options for a private-equity investment. The nation's largest furniture manufacturer and retailer employs more than 900 people at a production and distribution center in Advance.

About 492,000 NC residents covered by ACA

June 3, 2015

(The Charlotte Observer)

A new federal tally shows a 492,014 North Carolina residents have health care coverage under the Affordable Care Act. The figure is down from the number reported after the enrollment period ended in February. About 93% of North Carolinians covered by the ACA receive federal subsidies.

 

Blue Cross and Blue Shield of NC seeks 25.7% rate increase

June 2, 2015

(The Charlotte Observer)

The state's largest health insurer is requesting an average 25.7% rate increase for Affordable Care Act customers in 2016. The rate increase is almost double last year's 13.5%. The Chapel Hill-based insurer covers 397,000 of North Carolina's 560,357 customers enrolled under the ACA.
Related: Rates for most ACA health plans in NC to rise in 2016; Durham delays decision whether to drop hometown insurer

 

Randolph commissioners OK land purchase for megasite

June 2, 2015

(News & Record, Greensboro)

Randolph County commissioners voted to spend $5.87 million on a 170-acre parcel of land that will form part of an 1,800-acre megasite area leaders hope will attract a car manufacturer. The county bought 255 acres in February. The total cost to acquire and develop land for the megasite could reach $100 million.

BNC Bancorp to buy CertusBank's SC branches

June 2, 2015

(Winston-Salem Journal)

High Point-based BNC Bancorp will acquire CertusBank's seven remaining branches in South Carolina, including three in Greenville. The deal, expected to close in October, will make BNC – parent company of Bank of North Carolina – the second largest community bank in the Palmetto State.
Also: CertusBank to sell banking operations, remaining branches

CEO of Chapel Hill-based Pozen retires

June 2, 2015

(The News & Observer, Raleigh)

Adrian Adams was named CEO of Pozen, replacing John Plachetka, who is retiring. Plachetka founded the Chapel Hill-based pharmaceutical company in 1996. Adams was CEO and president of Auxilium Pharmaceuticals, which was acquired by Endo Pharmaceuticals in January. The company's shares are down 13.5% this year.

A-B Tech faces budget shortfall

June 2, 2015

(Asheville Citizen-Times)

Asheville-Buncombe Technical Community College will lay off six employees and cut another four jobs through attrition as a result of an unexpected budget shortfall. The college will receive less state funding than expected due to a 4% drop in student enrollment.

Durham's M&F Bank diversifies board

June 2, 2015

(The News & Observer, Raleigh)

The parent company of Mechanics & Farmers Bank, which is rebranding Tuesday as M&F Bank, named Raleigh attorney Christopher Smith to its board of directors. He is the first non-African American to serve on the Durham-based bank's board.

Sound Bank applies for full-service branch in Wilmington

June 2, 2015

(Greater Wilmington Business Journal)

Morehead City-based Sound Bank has moved its Wilmington loan-production office to a larger space and has requested FDIC permission to open a full-service branch there.

LabCorp announces partnership with Japanese company

June 2, 2015

(The Times-News, Burlington)

Burlington-based LabCorp will partner with Japan-based Sysmex to develop diagnostic blood tests to monitor and detect cancer in tumors.