Business

Buck Stove to add up to 50 jobs at Mitchell County manufacturing plant

April 11, 2014

(Asheville Citizen-Times)

Buck Stove Corp. will invest $1 million in its Spruce Pine manufacturing plant and will add 30 to 50 new jobs within three years. The company makes wood- and gas-burning stoves and patio products and recently signed a deal to make steel components for N.C. artist Bob Timberlake's retail line of outdoor living products.

Lenovo still world's top PC maker, moves up in US market

April 11, 2014

(The News & Observer, Raleigh)

While the overall market for PCs continues to decline, Lenovo's shipments grew 10.9% in the first quarter, allowing it to maintain its status of the world's No. 1 PC maker ahead of HP. The company, which employs 2,500 in North Carolina, also moved up from No. 4 to No. 3 in the U.S. PC market rankings issued by market research group IDC. 

Charlotte Knights hold first game at new uptown ballpark tonight

April 11, 2014

(The Charlotte Observer)

The Charlotte Knights will hold their home opener at the new, 10,200-seat BB&T Ballpark in uptown Charlotte tonight. A festival begins at noon in adjacent Romare Bearden Park with a team introduction, autograph session, music and more.

Baxano Surgical gets FDA clearance for surgical product

April 11, 2014

(Greater Wilmington Business Journal)

Baxano Surgical received U.S. Food and Drug Administration clearance for a pedicle-screw product used in spinal surgeries. The Raleigh-based medical-device company will launch its Avance system, which incorporates the product, in limited release later this quarter. 

Four Oaks Bank could sell $50 million in assets

April 11, 2014

(American Banker)

Four Oaks Fincorp., parent company of Four Oaks Bank, may sell up to $50 million in assets. Investor Kenneth Lehman, who agreed last month to buy 875,000 shares of the company's common stock at $1 each, is working with the community bank on an asset-resolution plan. Four Oaks has 14 offices primarily in the Triangle area.

 

VF Corp. adds Chinese distribution center

April 11, 2014

(The Winston-Salem Journal)

As part of its efforts to double its business in China by 2017, Greensboro-based clothing manufacturer VF Corp. announced it has opened a $60 million distribution center there that can handle up to 30 million units of product annually and will employ about 400 people. 

Charlotte law firm starts group for alcohol industry

April 11, 2014

(The Charlotte Observer)

Horack Talley law firm has created a new group to help those in the beer, wine and spirits industry with permits, licensing, real estate and other concerns. The group will assist alcohol-makers navigate rules and regulations from the local to the federal level.  

Bank of America to pay $783 million in settlement over credit card add-ons

April 10, 2014

(The Charlotte Observer)

Bank of America will pay $738 million to credit-card customers who were misled about credit protection and identity-theft protection programs and $45 million in penalties in a settlement with the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency.

Related: The Charlotte-based bank will cut 3,000 overseas jobs that provided back-office services, customer support and information-technology services. Some of the work may move to offices in Charlotte.

AT&T hopes to bring gigabit Internet service to parts of Triangle, Triad

April 10, 2014

(The News & Observer, Raleigh)

AT&T plans to install a new fiber network that will allow it to offer gigabit Internet service that is about 20 times faster than most broadband service in Carrboro, Cary, Chapel Hill, Durham, Raleigh and Winston-Salem.

Small group of doctors get large share of Medicare payments

April 10, 2014

(The Charlotte Observer)

A New York Times analysis of 2012 Medicare data shows that about 2% of doctors received about $15 billion of the $77 billion total government payout. Fifteen Mecklenburg County doctors received more than $1 million in payments.