Business

Florida court throws out hundreds of tobacco lawsuits

September 12, 2014

(Winston-Salem Journal)

A Florida appeals court has thrown out 750 Engle lawsuits against U.S. tobacco companies, nearly 10% of the the 8,000 cases pending in Florida courts. The Engle cases originated from a 2006 class-action lawsuit that was decertified, allowing for class members to file individual lawsuits for cigarette-related illnesses.

Red Hat exec left for job at Google

September 12, 2014

(The News & Observer, Raleigh)

A former Red Hat executive is now vice president of cloud platforms at Google. Brian Stevens, who served as the Raleigh-based software company's chief technology officer for nearly nine years, resigned as of Sept. 5.

Paulson could determine fate of Family Dollar

September 12, 2014

(The Charlotte Observer)

Paulson & Co., Family Dollar's third-largest shareholder, also holds about 4 million shares of Dollar General. The hedge fund was founded by billionaire John Paulson, who has yet to take a stance in the bidding war over Matthews-based Family Dollar Stores.

Childress Klein buys Cary office building for $12.5 million

September 12, 2014

(The News & Observer, Raleigh)

Charlotte-based Childress Klein Properties paid $12.5 million for a Cary office building. The 93,351-square-foot building was owned by Arcon Group, the real-estate arm of Goldman Sachs.

Buncombe likely to provide incentives for Wicked Weed expansion

September 12, 2014

(Asheville Citizen-Times)

Buncombe County commissioners will vote Tuesday on giving almost $75,000 in incentives to Wicked Weed Brewing for its previously announced expansion. The beer company will invest at least $6.5 million and add 75 jobs over four years as part of the agreement.

Chiquita sitting down to talk with Brazil-based companies

September 11, 2014

(The Charlotte Observer)

Chiquita Brands International has begun talks with Cutrale and Safra, which have offered to pay $13 a share, or $611 million, for the Charlotte-based produce company. Chiquita postponed a shareholder vote on its proposed merger with Dublin-based Fyffes until Oct. 3 after the Brazilian companies urged shareholders to reject that deal.

Wilmington's Atlantic Corp. to buy Greensboro paperboard plant

September 11, 2014

(News & Record, Greensboro)

Memphis, Tenn.-based International Paper will sell its Greensboro paper- and packaging-plant, along with locations in Hazelton, Pa. and Sturgis, Mich., to Wilmington-based Atlantic Corp. The deal is expected to close in the fourth quarter.

Equestrian center brings challenges, benefits to Polk County

September 11, 2014

(Hendersonville Times-News)

Tryon International Equestrian Center, opened July 2, is already having an impact on Polk County, which lacks enough hotels to accommodate the thousands of spectators the 1,400-acre resort expects to draw. The $100 million project, still under construction, will eventually include two hotels, an RV park and other lodging (Regional Report, August).

Mixed-use project announced for Gleneagles site in south Charlotte

September 11, 2014

(The Charlotte Observer)

Harris Land Co. filed a rezoning petition for a long-vacant site near Quail Hollow Club in South Charlotte. If the application is approved, the 19-acre site will be developed into offices, retail, condos and a hotel. Owner Dee-Dee Harris announced plans for a similar project more than a decade ago, but it was never completed.

Asheville breweries expand to keep up with demand

September 11, 2014

(Asheville Citizen-Times)

Craft beer sales are up 20% over last year, and Asheville breweries are spending millions to keep up with demand. The area's largest project is New Belgium's $175 million brewery under construction in West Asheville, which expects to hire up to 350 employees by spring 2015.