Business

Vertex Rail steps up hiring, site renovations

June 8, 2015

(Greater Wilmington Business Journal)

A delay in the release of new federal railcar regulations slowed Vertex Rail's plans, but now the company is moving ahead with hiring and upfitting its manufacturing facility in Wilmington. The city is reviewing site plans, and Vertex CEO Don Croteau said the company has begun hiring workers who will travel to China for equipment training.

AdvantageWest to close by year-end

June 5, 2015

(Asheville Citizen-Times)

AdvantageWest will cease operations by year-end after 21 years. The regional economic-development group, which represents 23 counties in western N.C., is working to transfer its programs to other nonprofits in the region.

Duke Energy completes implosion of Cape Fear power plant

June 5, 2015

(News & Record, Greensboro)

Duke Energy imploded the remainder of its coal-fired power plant in Moncure on Thursday. The two demolished structures were the last of six that once operated at the Alamance County plant, which opened in 1923. The Charlotte-based utility must excavate the plant's five ash basins by 2029.

Charlotte area companies land on Fortune 500 list

June 5, 2015

(The Charlotte Observer)

Eight Charlotte-area companies appeared on the Fortune 500 list this year, up from seven in 2014. Sealed Air Corp., which is moving its headquarters from New Jersey to Charlotte, is the area's latest addition. Huntersville's American Tire Distributors Holdings jumped more than 100 spots but just missed the list at No. 514. Fourteen North Carolina-based companies made the list.

Cree recalls 700,000 LED lamps

June 5, 2015

(WRAL TechWire)

Durham-based Cree recalled 700,000 LED lighting tubes due to a burn hazard. The 4-foot tubes, which were manufactured in China, were sold as replacement lamps for fluorescent lighting.
Read more about Cree in BNC's May issue

I-485 could be last 'free' highway in Charlotte

June 5, 2015

(The Charlotte Observer)

Interstate 485 is likely to be the last major highway project in the Charlotte region that does not involve toll lanes. The last segment of Charlotte's outer loop opens today.

FDA panel recommends approval of female libido drug

June 5, 2015

(The News & Observer, Raleigh)

An FDA panel voted to approve Raleigh-based Sprout Pharmaceutical's drug designed to boost the female sex drive. The drug, originally introduced as a depression treatment, was rejected twice earlier.

Uber expands in Charlotte region

June 5, 2015

(The Charlotte Observer)

Ride-booking service Uber is expanding in the Charlotte region and will offer its service in Concord, Cornelius, Davidson and Huntersville beginning Friday.

Florida judge dismisses more Engle cases

June 5, 2015

(Winston-Salem Journal)

A U.S. district court judge in Florida dropped 12 Engle progeny cases and removed 12 abandoned cases. The lawsuits stemmed from a class-action lawsuit filed in1994 against large tobacco companies, including R.J. Reynolds Tobacco, Philip Morris and Lorillard.

Raleigh's Stock Building merging with Atlanta company

June 4, 2015

(The News & Observer, Raleigh)

Raleigh-based Stock Building Supply is merging with an Atlanta-based building materials company. The combined company will be the second largest lumber and building-supplies distributor in the United States. Shareholders of Building Materials Holding will own 60% of the company; Stock's shareholders will own the rest.