Business

DEQ: Duke Energy must dig up all of its coal ash

May 19, 2016

(The Charlotte Observer)

Duke Energy must excavate all of its coal-ash ponds across the state by 2024, the state Department of Environmental Quality said on Wednesday, though that decision could be overturned in 18 months if the utility can provide new data showing lower risk of groundwater contamination at the sites. Duke is currently removing ash from five "high risk" sites; it says capping the ponds considered "low risk" is a cheaper option that will save customers money.

Wake Forest Baptist revenue rose 8.9% in the third quarter

May 19, 2016

(Winston-Salem Journal)

The Winston-Salem-based medical center reported $1.7 billion in total revenue for the third quarter, compared with $1.6 billion a year ago.

Female worker sues BofA over unequal pay, 'bro's club' behavior

May 18, 2016

(The Charlotte Observer)

A female managing director at Bank of America says a male counterpart received a bonus three and a half times bigger than her 2015 bonus of $1.55 million. Megan Messina, a bank employee since 2007, also says a male supervisor excluded her from emails, meetings and other engagements with the group of men he was overseeing.

New Jersey drugmaker coming to NC despite HB2

May 18, 2016

(The News & Observer, Raleigh)

Braeburn Pharmaceuticals had threatened to cancel plans to build a $19.9 million manufacturing facility in Morrisville over House Bill 2. The New Jersey-based drugmaker said Tuesday it will move forward with the expansion, which will create 52 jobs. The company applauded Durham Country's support of the LBGT community. In other HB2 news, violinist Itzhak Perlman canceled tonight's concert with the North Carolina Symphony over the new law.

Pabst sues MillerCoors over Eden plant closure

May 18, 2016

(News & Record, Greensboro)

The owner of Pabst Brewing Co. is suing MillerCoors, citing breach of contract over the planned closure of the company's Eden brewery, which will cost the town in Rockingham County 500 jobs. Miller agreed in 2014 to continue brewing Pabst beers for several year after Pabst was sold to a Russian company; Pabst says the Eden plant is the primary location where Miller brews its products. In the lawsuit, Pabst said it offered to buy or lease the plant; in its response, MillerCoors said Pabst suggested an amount far less than what the facility is worth.

Raleigh considers tax hike for Dix property, affordable housing

May 18, 2016

(The News & Observer, Raleigh)

Raleigh City Manager Ruffin Hall proposed a 2-cent property tax increase that would raise $11.4 million to finance debt the city took on to buy the former Dorothea Dix hospital property, which it plans to convert to a park, and to add 115 affordable-housing units. The average homeowner would pay an additional $95.16 a year.

BB&T slashes 241 jobs in Pennsylvania

May 18, 2016

(Winston-Salem Journal)

BB&T will cut about 15% of the workforce of National Penn Bancshares, the Pennsylvania-based bank it acquired last month in a $1.8 billion deal. BB&T confirmed earlier this week it was closing 28 branches in Pennsylvania, leaving it with 329 in the state. The Winston-Salem-based bank has $15.2 billion in deposits in Pennsylvania, trailing only PNC Financial, Wells Fargo and Citizens Bank.

Spellings, Ross share stage at Greensboro fundraiser

May 17, 2016

(News & Record, Greensboro)

UNC System President Margaret Spellings and her predecessor, Tom Ross, talked about HB2, rising tuition costs and faculty salaries at a fundraiser for Preservation Greensboro on Monday. Spellings said HB2 has distracted attention from the important work being done at the 17-campus system and possibly damaged its reputation. Spellings also spoke about the importance of raising faculty and staff pay to avoid "poaching" by other states.
Related: Tom Ross takes new job leading Paul Volcker's nonprofit in New York

Canton paper mill a mainstay in Western NC

May 17, 2016

(Smoky Mountain News)

Demand for coated paper coffee cups — and a shift away from Styrofoam by retailers including McDonald's and Dunkin' Donuts — has been a boon for Evergreen Packaging in Haywood County, which employs about 900 people. The paper mill's future seemed uncertain a year ago when rumors circulated that the mill was for sale; then the company's New Zealand-based parent, Rank Group Limited, decided to keep it.

Delta plant closing won't impact Fayetteville operations

May 17, 2016

(The Fayetteville Observer)

The CEO of Greenville, S.C.-based Delta Apparel says the closing of Maiden textile plant will have little impact on the company's Fayetteville operations. Delta employs about 500 people in Fayetteville, including sewing and screen-printing operations for M.J. Soffe and a distribution center for beach lifestyle brand Salt Life. Both brands are owned by Delta.