Business

Loss of conference will cost Wilmington nearly $1 million

April 27, 2016

(Greater Wilmington Business Journal)

The American Institute of Architects' decision to move a regional conference from Wilmington to either Georgia or South Carolina over HB2 will cost the Port City about $1 million, according to estimates. The event was expected to bring in between 1,000 and 1,200 visitors.

Ally Financial misses earnings expectations

April 27, 2016

(The Charlotte Observer)

Ally Financial reported first quarter profit of $250 million, down from $576 million for the same period a year ago when the Detroit-based lender sold its Chinese auto-finance joint venture. Adjusted earnings of 52 cents a share fell short of analysts' projections of 54 cents per share. Ally CEO Jeffrey Brown is based in Charlotte, one of the company's largest employment hubs with about 800 workers.

Millennials surpass baby boomers as biggest generation

April 27, 2016

(The Washington Post)

There are now 75.4 million millennials in the United States, compared with 74.9 million baby boomers, according to a Pew Research Center analysis of census data. Read about how some millennials in North Carolina are finding success as entrepreneurs.

Asheville brewer adding 2nd location

April 27, 2016

(Asheville Citizen-Times)

Asheville's Wedge Brewing will open a second location in an 8,000-square-foot building in the city's River Arts District. Construction is scheduled to begin in a few months and should be complete by the end of 2016.

$70M mixed-use project approved in Rock Hill, SC

April 27, 2016

(The Charlotte Observer)

The Rock Hill City Council on Monday approved a $70 million development on the Catawba River that could include 300 apartments and condominiums and 235,000 square feet of commercial space. Premiere Design Solutions, based in Rock Hill, is the developer. Rock Hill is about 26 miles southwest of downtown Charlotte.

Regulators approve $55B Charter-Time Warner deal

April 26, 2016

(The Charlotte Observer)

Charter Communications received antitrust approval for its $55 billion bid for Time Warner Cable, which employs more than 3,100 people in the Charlotte area. Stamford, Conn.-based Charter is also buying Syracuse, New York-based Bright House Networks for $10.4 billion. The deals will create the nation's No. 2 cable provider; Comcast will remain No. 1.

Houston Astros owner tours Fayetteville

April 26, 2016

(The Fayetteville Observer)

Houston Astros owner Jim Crane was in Fayetteville on Monday, where he had preliminary talks with local officials about bringing a minor-league baseball team to the area. Crane said he hopes to have a stadium built by 2018.

Equestrian center acquires more land for hotel, condos

April 26, 2016

(Hendersonville Times-News)

A spokeswoman for Tryon International Equestrian Center in Mill Spring said the1,400-acre resort has acquired additional land and will begin construction on a 180-room hotel, 40 condominiums priced from $450,000 to $1.3 million, and an additional 29 log-cabin rental homes.

Eastland Mall site in Charlotte to become K-8 school

April 26, 2016

(The Charlotte Observer)

Charlotte City Council voted 8-2 to sell 11.4 acres that was once the site of North Carolina's largest shopping mall to Charlotte-Mecklenburg Schools for $650,000. CMS plans to build a language-immersion school for 1,000 students on the site. Some neighbors protested the plan, favoring holding out for a project that would attract more private investment.

NCAA eases up on UNC allegations

April 26, 2016

(The News & Observer, Raleigh)

The NCAA on Monday issued a new notice of allegations to UNC Chapel Hill, one that includes more examples of misconduct by Jan Boxill, former counselor to the women's basketball team. The amended allegations removes mention of football and men's basketball as beneficiaries of fake classes.