Business

Report: Google Fiber coming to Charlotte, Raleigh-Durham

January 27, 2015

(The Charlotte Observer)

The Wall Street Journal reported late Monday that Mountain View, Calif.-based Google is planning to bring its high-speed Internet network to Charlotte, Raleigh-Durham, Atlanta and Nashville, Tenn. Charlotte officials and members of the media have been invited to a Google news conference at 1 p.m. Tuesday.

IBM calls report of massive layoffs 'baseless'

January 27, 2015

(The News & Observer, Raleigh)

IBM denied a Forbes report that said it planned to lay off one-fourth of its workforce, or more than 100,000 people. The Armonk, New York-based tech company employs several thousand people in Research Triangle Park.

GE Nuclear Fuel unit secures $100M contract

January 27, 2015

(Greater Wilmington Business Journal)

Global Nuclear Fuel, the GE-led joint venture of Hitachi and Toshiba, received a contract worth more than $100 million to provide fuel for a nuclear station in Nebraska through 2034. The fuel will be manufactured at GNF's Castle Hayne campus near Wilmington.

BNC Bancorp reports record profit in fourth quarter

January 27, 2015

(Winston-Salem Journal)

BNC Bancorp, the High Point-based parent of Bank of North Carolina, reported profit of $8.5 million in the fourth quarter, an increase of 160% over the same period a year ago. Net income for the fiscal year rose 81.6% to $29.4 million. BNC will have about $4.9 billion in assets after it completes a pending $101.3 million acquisition of Roanoke, Va.-based Valley Financial Corp.

High Point's Cornerstone losing 25 doctors

January 27, 2015

(High Point Enterprise)

More than two dozen doctors will leave Cornerstone Health Care by early March. Three years ago, the High Point-based physicians group changed the fee and compensation structure for its member doctors. The group has more than 375 physicians in more than 90 practices, according to its website.

Sonic Automotive looks to expand in 2015

January 27, 2015

(The Charlotte Observer)

Sonic Automotive plans to acquire more auto dealerships and expand its chain of EchoPark used-car retail stores. The company plans to spend $200 million on real estate and buildings in 2015. Charlotte-based Sonic has more than 100 dealerships in 14 states, mostly in the Southeast and Southwest. 

Yadkin Financial reports net income of $14.7M

January 27, 2015

(The News & Observer, Raleigh)

Raleigh-based Yadkin Financial reported $14.7 million in fourth-quarter net income. The parent of Yadkin Bank, which was formed in July when Raleigh-based VantageSouth Bank merged with Elkin-based Yadkin Bank, added $332.6 million in new loans and commitments in the fourth quarter.
Related: Read Yadkin Financial CEO Scott Custer's latest BankNotes blog post: Remaining Community

Staffing firm to cut 319 jobs at Cree manufacturing site

January 27, 2015

(The News & Observer, Raleigh)

A Raleigh-based staffing agency plans to lay off 319 contract employees working at a manufacturing plant for Durham-based Cree. The jobs being eliminated are temporary positions. The LED-lightbulb manufacturer employs more than 2,600 in the Triangle; those jobs are unaffected by the layoffs. 

Asheville City Council considers 477 new apartments

January 27, 2015

(Asheville Citizen-Times)

Asheville City Council could approve two apartment projects totaling 477 units at its Tuesday meeting. A group of local residents have expressed concern over the 309-unit Biltmore Apartments, which they say will cause increased traffic and will be priced too high for the Oakley and East Asheville area.

Charlotte, Triangle await Google announcements this week

January 26, 2015

(The Charlotte Observer)

Officials in Charlotte received a "Save the Date" invite from Mountain View, Calif.-based Google for a reception Wednesday evening. Raleigh-Durham officials also received invitations to a similar event on Wednesday afternoon. Google is considering Charlotte and seven Triangle cities for deployment of its Google Fiber high-speed Internet service, which is nearly 100 times faster than traditional broadband.