Business

Pantry stock soars amid rumors of sale

December 18, 2014

(The Charlotte Observer)

Shares of The Pantry rose 23% on Wednesday following a Wall Street Journal report that the company was close to being sold. The Cary-based company operates about 1,500 convenience stores in thirteen states, mostly under the Kangaroo Express brand. The Pantry reported fourth-quarter profits of $15.4 million, compared with $1.4 million for the same period a year ago.

RTP to unveil redevelopment site plan Jan. 15

December 18, 2014

(WRAL TechWire)

The Research Triangle Park Foundation will unveil the first phase of its 100-acre redevelopment project it says could eventually create 100,000 jobs. RTP describes "The Frontier" as " the Triangle's newest meeting spot for those looking for a place to plug in, or a new office location."

Morgan stepping down as executive chairman of Krispy Kreme

December 18, 2014

(Winston-Salem Journal)

Jim Morgan will remain chairman of Winston-Salem-based Krispy Kreme Doughnuts, though in a non-executive role as of Jan. 29. He was chief executive of the Winston-Salem-based company from January 2008 until June 2014, when Tony Thompson became CEO and president (Statewide, December).

Charlotte-based Dynacast sold for $1.1 billion

December 18, 2014

(The Charlotte Observer)

A Swiss investment-management firm will buy Charlotte-based Dynacast International for $1.1 billion. Dynacast makes metal components for small electronic devices such as car key fobs and operates 23 manufacturing plants in 16 countries.

New Hanover Regional reports $53M surplus

December 18, 2014

(StarNews, Wilmington)

New Hanover Regional Hospital reported an operations surplus of $53.5 million for fiscal year 2014, more than double the projected amount. 

Union County, Monroe approve $917K in incentives for Scott Safety

December 18, 2014

(The Charlotte Observer)

Union County and the city of Monroe approved incentives of up to $917,000 for Scott Safety, a division of Ireland-based Tyco International, to invest $28 million in an expansion of its local plant. The company would add 67 jobs to its existing 600. Scott Safety, which makes respiratory-protection and other safety products for law-enforcement officials, is also considering sites in England and India. 

Credit union regulator sues BofA, US Bancorp

December 18, 2014

(The Charlotte Observer)

The National Credit Union Administration Board filed a lawsuit claiming Bank of America and US Bancorp failed as trustees for mortgage-backed securities following the 2008 credit crisis.
Related: Countrywide whistleblower to receive more than $57M

President of Hoke Healthcare resigns

December 18, 2014

(The Fayetteville Observer)

Velvette Jones resigned earlier this month as president of Hoke Healthcare, part of Fayetteville-based Cape Fear Valley Health System. Jones was hired in fall 2013 to help launch the health system's 41-bed hospital in Hoke County, which is expected to open in February. 

$26M Cherokee Justice Center opens

December 18, 2014

(The Sylva Herald)

The Eastern Band of Cherokee Indians opened a $26 million justice center Wednesday near downtown Cherokee. The 76,000-square-foot center will house a tribal police station, courthouse and a 96-bed jail.

Greensboro hotel group proposes 104-room Asheville hotel

December 18, 2014

(Asheville Citizen-Times)

Asheville's hotel boom continues with a proposal for a five-story, 104-room hotel near Merrimon Avenue and Interstate 240. Greensboro-based CN Hotels owns the property, which would be developed by a Greensboro-based group listed as Asheville Property. The city's zoning commission is scheduled to review the project Jan. 7.