Business

Raleigh's Rex Hospital in growth mode

March 7, 2016

(The News & Observer, Raleigh)

The $235 million Heart & Vascular Hospital, expected to open next year, is the latest sign of UNC Rex Healthcare's evolution from a community hospital to a major regional medical center. Once the new heart center opens in 2017, an extensive renovation of the original hospital will begin. President Steve Burriss said the health care system also owns 20 acres in northwestern Raleigh for future expansion.

Reynolds CEO earns 52% more in 2015

March 7, 2016

(Winston-Salem Journal)

Susan Cameron earned a salary of $1.38 million in 2015, up 52.4% from the previous year when she only worked for seven months, according to a preliminary proxy filing last week. The Reynolds American CEO returned in May 2014 to oversee the cigarette company's acquisition of Greensboro-based Lorillard. Cameron's total compensation in the year before she retired in February 2011 was $23.8 million.

BofA workforce nears 2008 levels

March 7, 2016

(The Charlotte Observer)

Charlotte-based Bank of America had 213,000 employees at the end of 2015, just 6,000 more than in June 2008. Since CEO Brian Moynihan took over in 2010, the bank has cut about one-quarter of its workforce, and Moynihan has said the bank will continue trimming its workforce in an effort to improve profitability. Despite the global cuts, Charlotte's local workforce has held steady at about 15,000 over the last decade.

NC environmental agency cites Duke Energy for coal-ash violations

March 7, 2016

(WRAL.com)

The state Department of Environmental Quality cited Duke Energy for wastewater violations at 12 power plants. Duke has 30 days to respond to the notice of violations, which could result in fines. Duke said in a statement the seeps are not affecting water quality and that the company is actively working toward closing the ash basins.

Charlotte apartment complex sells for $51.9M

March 4, 2016

(The Charlotte Observer)

Chicago-based Waterton has acquired Addison Park, a 426-unit apartment community in north Charlotte, for $51.9 million. The seller was Heitman, also based in Chicago, which paid $33 million for the apartments in 2010. Waterton plans to renovate interiors and common areas.

Grizack convicted of fraud charges in Forsyth County

March 4, 2016

(Winston-Salem Journal)

William John Grizack pleaded guilty to fraud charges Thursday and agreed to pay $235,000 to his previous employer, Pave Advertising and Design in Winston-Salem, and another company, McKinney Ventures LLC in Durham. In 2012, Grizack fabricated $269 million in contracts so he could become partner at Pave, now known as The Variable.

Rocky Mount brewmill hopes to provide economic boost

March 4, 2016

(WRAL.com)

A Rocky Mount mill overlooking the Tar River is being converted to a "craft beer Incubator." The first business to open at Rocky Mount Brewmill is Koi Pond Brewing Co. Apartments, offices and stores also are slated for construction by 2018. The mill is owned by Capitol Broadcasting Co.

Toll road opponents shouldn't let hopes get too high

March 4, 2016

N.C. officials are hinting that financial problems for a Texas toll road may give room to modify the state's criticized toll lane project in north Charlotte. Don't bet on it.

North Carolina's Best Employers

March 4, 2016

Chair massages, college scholarships for your kids, yoga, even working when you want — perks on this year’s lists of Best Employers in North Carolina have come a long way since the survey asked whether businesses offered direct deposit. See who made the list.

BofA plans job cuts in trading, investment banking

March 4, 2016

(The Charlotte Observer)

Bank of America plans to lay off about 150 trading and investment-banking employees next week, the Charlotte Observer reports. It's not clear where the cuts will take place, but New York is BofA's hub for the two business units.