Business

Dollar Tree CEO has harsh words for Family Dollar's Levine

January 13, 2015

(The Charlotte Observer)

The chief executive of Chesapeake, Va.-based Dollar Tree told Family Dollar Stores CEO Howard Levine he will not accept another delayed shareholder vote on his company's proposed acquisition of the Matthews-based retailer. "After two delays, we have been more than reasonable, but have reached the end of our patience," Bob Sasser wrote in a letter to Levine released Monday.

Durham-based Cree files patent-infringement suits

January 13, 2015

(The News & Observer, Raleigh)

Durham-based Cree filed complaints against California-based Feit Electric and its Taiwanese supplier, Unity Opto Technology, alleging Feit's LED lightbulbs infringe on 10 Cree patents. Cree, which sells its LED bulbs exclusively at Home Depot stores, also accused Feit of false advertising, claiming some of Feit's bulbs fail to meet federal Energy Star standards.

Charlotte approves deal for writing off NASCAR museum loans

January 13, 2015

(The Charlotte Observer)

The Charlotte City Council approved an agreement in which Bank of America and Wells Fargo will write off $17.6 million in debt and accrued interest from the NASCAR Hall of Fame. The city will pay the banks $5 million toward the debt, which totals more than $22 million. NASCAR also agreed to waive $3.2 million in royalties it's owed but hasn't been paid since the hall has lost money each year since it opened in 2010.

PNC Bank adding no-surcharge ATMs in Charlotte

January 13, 2015

(Winston-Salem Journal)

PNC Financial Services Group, parent of PNC Bank, will add nearly 400 no-surcharge ATMs in CVS, Walgreens and Kangaroo Express stores in the Carolinas, Alabama and Georgia. In North Carolina, most of the new ATMs will be located in CVS drugstores and Kangaroo Express stores in the Charlotte market.

Chimerix patent extended until 2034

January 13, 2015

(The News & Observer, Raleigh)

Durham-based Chimerix was awarded a 20-year patent for brincidofovir, an antiviral drug that is being tested on Ebola patients in clinical trials. Following the announcement, an analyst at William Blair & Co. increased the target price of the drug developer's stock from $46 to $53. Chimerix shares have increased 134% over the past year.

Restaurants, art studios planned building in Asheville's River Arts District

January 13, 2015

(Asheville Citizen-Times)

The architect and developer of Asheville's River Arts District project plans art studios, restaurants, a rooftop bar and other food-related businesses at the 60,000-square-foot 95 Roberts St. building. 

Announcement expected on Raleigh's Dorothea Dix property

January 12, 2015

(The News & Observer, Raleigh)

A press conference on the future of the Dorothea Dix property in Raleigh is scheduled for Monday, according to a post on state Rep. Duane Hall's Twitter account. Civic leaders have led a push to redevelop the 308-acre former psychiatric hospital campus into a destination park, however city and state officials have been unable to negotiate a deal.

Former Wells Fargo exec to lead Piedmont Triad Partnership on interim basis

January 12, 2015

(News & Record, Greensboro)

The Piedmont Triad Partnership announced organizational changes that will allow it to focus on recruiting large-scale employers such as an auto manufacturer. Stan Kelly, who recently retired as president for Wells Fargo's Carolinas region, will become interim CEO, replacing David Powell who resigned last week.

Biotech company to hire 65 in Asheville

January 12, 2015

(Asheville Citizen-Times)

White Labs will invest $8.1 million and hire 65 workers over five years in Asheville. The San Diego, Calif.-based biotech company makes yeast for beer and other alcoholic drinks.

CommunityOne resumes SBA lending

January 12, 2015

(The Charlotte Observer)

Charlotte-based CommunityOne Bancorp has begun offering Small Business Administration loans for the first time since 2010. On Friday, the bank named an SBA team who will be responsible for generating SBA loans in the Carolinas, Georgia, Tennessee and Virginia. CommunityOne Bancorp, the bank's parent company, was previously known as FNB United and was based in Asheboro.