Business

Duke Energy selects Lumberton site for possible development

April 15, 2014

(The Fayetteville Observer)

Duke Energy Progress has hired a consulting group to study a 257-acre site in Robeson County for a potential industrial or manufacturing project. The Lumberton site is one of five in the state chosen by the utility as part of its 2014 Site Readiness Program.

TIAA-CREF buys Nuveen Investments for $6.25 billion

April 15, 2014

(The Charlotte Observer)

New York-based TIAA-CREF will buy Chicago-based Nuveen Investments for $6.25 billion to expand its product offerings. It is unknown whether the deal will affect employment at the retirement-services provider's Charlotte campus, its largest corporate office with about 3,100 employees.

Tupelo Honey Cafe to open fourth NC restaurant in Raleigh

April 15, 2014

(Asheville Citizen-Times)

Asheville's Tupelo Honey Cafe will open its first restaurant in Raleigh this fall at Cameron Village. It will be the restaurant chain's fourth in North Carolina; it has two in Asheville and one in Charlotte. 

1,200 apply for call-center jobs in High Point

April 15, 2014

(The News & Record, Greensboro)

APAC Customer Services received 1,200 applications for 500 call-center jobs the company needs to fill by July. The jobs will service a "major communications company" at the company's High Point service center. 

Chimerix CEO gets pay raise, stock options

April 15, 2014

(The News & Observer, Raleigh)

Michelle Berrey will receive an annual salary of $440,000 and stock options in her new role as president and chief executive officer of Durham-based Chimerix, $76,000 more than her previous salary. She will also be eligible for a performance-based bonus of up to 50% of her salary. Berrey will retain her title as chief medical officer of the drug-development company.

Park Sterling CEO earns 32% more in 2013

April 15, 2014

(The Charlotte Observer)

The chief executive of Charlotte-based Park Sterling Bank earned about 32% more in 2013 than the year before. Jim Cherry's total compensation for the year was $750,846, a sum which included a $200,000 cash bonus. 

New owner of Smithfield Foods to hold IPO

April 15, 2014

(StarNews, Wilmington)

The Chinese company that bought Smithfield Foods last year will hold an initial public offering on the Hong Kong Stock Exchange. WH Group hopes to raise up to $5.3 billion, much of which will be used to pay off debts related to the Smithfield purchase. Shares are expected to start trading on April 30.

Herbalife reported to be under FBI investigation

April 15, 2014

(The News & Record, Greensboro)

Los Angeles-based Herbalife, which is planning to open a manufacturing plant in Winston-Salem, is the subject of a criminal investigation by the U.S. Department of Justice and the FBI according to various media outlets. The Federal Trade Commission is also investigating the nutritional-products company, which hedge fund manager Bill Ackman has accused of running a pyramid scheme.

Wake Forest Baptist may cut 1,000 jobs

April 14, 2014

(The Winston-Salem Journal)

Wake Forest Baptist Medical Center could cut anywhere from several hundred to more than 1,000 jobs as early as this week, according to multiple company employees. The Winston-Salem-based hospital, Forsyth County's largest employer with about 13,000 employees, has cut 950 jobs since 2012 when it began a new initiative to reduce expenses.

Massive Philip Morris plant in Concord sold

April 14, 2014

(The Charlotte Observer)

The former Philip Morris cigarette plant in Concord has been sold to a company that plans a project involving clean energy. The 3.5-million-square-foot plant on 2,100 acres has been vacant since 2009. A spokesman for Victory Industrial Park LLC says more details will be released about the project in a few months.