Business

Duke Energy CEO gets pay raise

June 30, 2015

(The Daily Reflector, Greenville)

Duke Energy CEO Lynn Good's salary will increase by $50,000 to more than $1.2 million, while her total compensation could reach $10.5 million, according to a company filing with the SEC. Good's pay was slashed by about $600,000 in 2014 as the Charlotte-based company anticipated spending millions in cleanup, fines and legal fees related to the Dan River coal-ash spill.

Economist: Greek crisis should have minimal impact in US

June 30, 2015

(The Charlotte Observer)

The impact of the debt crisis in Greece shouldn't have much of an impact on Charlotte and the rest of the U.S., Jay Bryson says, unless the problems spread to the entire European financial system. Bryson is a Charlotte-based global economist with Wells Fargo Securities.

Armstrong Marine debuts first boat

June 30, 2015

(Jacksonville Daily News)

Armstrong Marine has completed the first boat at its Onslow County facility. The Port Angeles, Wash.-based company announced last year plans to hire up to 200 people at the former Hatteras Yacht plant, which closed in 2008. Armstrong makes aluminum boats for law-enforcement agencies, the military and others.

Lenovo's top shareholder raises $2B

June 30, 2015

(The News & Observer, Raleigh)

China-based Legend Holdings, which holds a 30.6% stake in Beijing-based Lenovo, raised $2 billion in an initial public offering on the Hong Kong exchange. Lenovo, which has its North American headquarters in Morrisville, employs about 3,500 people in the Triangle.

Charlotte's BSN medical to buy Texas company

June 30, 2015

(The Charlotte Observer)

BSN medical, a Germany-based medical-device company that has its U.S. headquarters in Charlotte, will acquire Texas-based FarrowMed. FarrowMed makes compression wraps to manage swelling. Financial terms were not disclosed.

Duke Progress cancels HVAC repair program

June 30, 2015

(The News & Observer, Raleigh)

Duke Energy Progress is discontinuing its HVAC repair program as of Aug. 31. The program debuted in 2010 and offered customers insurance on heating and cooling repairs in exchange for a fixed monthly payment. Customers who signed up for the program within the last 12 months will receive refunds.

Charlotte considers new stadium to attract Major League Soccer

June 29, 2015

(The Charlotte Observer)

The city of Charlotte could use tourism dollars – funds from taxes on hotels and prepared food and beverages – to build a new stadium with up to 25,000 seats if it can land a Major League Soccer team. Memorial Stadium, built in the 1930s in Charlotte's Elizabeth neighborhood, would be demolished to make way for the new stadium.

I-40 has boosted economy, strained local roads in the Port City

June 29, 2015

(StarNews, Wilmington)

New Hanover County's population has grown from 120,284 to more than 216,000 since the last segment of Interstate 40 was completed in 1990, while Brunswick County's population has more than doubled. Now the N.C. DOT and local leaders are at odds over how to alleviate increased congestion on city streets.

Officials map out future for Winston-Salem's Innovation Quarter

June 29, 2015

(Winston-Salem Journal)

Officials are finalizing a master plan for the second phase of Wake Forest Innovation Quarter, the business and research district in downtown Winston-Salem where more than 3,000 people – including scientists, engineers and educators – now work.

Huntersville tire distributor grows through acquisitions, investments

June 29, 2015

(The Charlotte Observer)

American Tire Distributors' net sales have more than doubled over the last five years, from $2.17 billion in January 2010 to $5.03 billion in January 2015. The Huntersville-based company, which serves as a middleman between tire manufacturers and retailers, narrowly missed earning a spot on the Fortune 500 list of largest companies ranked by revenue, coming in at No. 514.