Business

Charlotte could bid again on hosting X Games

March 23, 2016

(The Charlotte Observer)

Officials at Charlotte Motor Speedway say they have had preliminary discussions with ESPN about hosting the summer X Games in 2017 and 2018. The network is seeking bids from interested cities after ending its agreement with Austin, Texas a year earlier than expected. Last year's X Games, which features skateboarding, motocross and other "extreme" sports, had an economic impact of $102.3 million in Austin.

Red Hat revenue tops $2 billion

March 23, 2016

(The News & Observer, Raleigh)

The Raleigh-based open source software company posted double digit revenue growth in the fourth quarter, pushing annual revenue past $2 billion for the first time. Fourth quarter revenue of $544 million beat analysts' expectations of $537.5 million.

Craft brewers unite to change NC beer law

March 23, 2016

(The Charlotte Observer)

Charlotte's Olde Mecklenburg Brewery and NoDa Brewing Co. have joined other small to mid-size breweries across N.C. in a effort to change a state rule that requires breweries to hire an outside distributor once production reaches 25,000 barrels a year. Olde Mecklenburg last year decided to end an expansion in the Triad as the company approached the 25,000-barrel limit. Craftfreedom.org is looking to the 2017 legislative session to push for changes to the law.

LexisNexis looks to add 150 workers by year-end

March 23, 2016

(The News & Observer, Raleigh)

Software company LexisNexis Legal & Professional has added 46 employees at its Raleigh office since the beginning of the year and expects to hire another 150 in 2016. The New York-based company said in 2012 it would create 350 jobs with an average annual salary of $91,644 over five years.

Novant Health seeks to expand Kernersville outpatient center

March 23, 2016

(Winston-Salem Journal)

Winston-Salem-based Novant Health filed a certificate-of-need request for a $9.8 million ambulatory surgical center at its Kernersville campus. The project will not require a public hearing.

Yadkin County reaches settlement with former hospital operator

March 23, 2016

(Winston-Salem Journal)

According to a court filing Monday, Yadkin County has reached a tentative settlement with CAH Acquisition, the operator of Yadkin Valley Community Hospital that abruptly closed in May.

Ally Financial to expand board with new independent director

March 22, 2016

(The Charlotte Observer)

Ally Financial will consult with shareholder Lion Point Capital to select a new independent director, expanding its board to 12 members. The hedge fund tangled with Ally in December when Lion Point pressed the company to form a committee to study strategic alternatives, which Ally said was an attempt to force a sale of the company. Detroit-based Ally's CEO Jeffrey Brown is based in Charlotte, where the company employs about 800 people.

Low inventory leads to tight Triangle housing market

March 22, 2016

(The News & Observer, Raleigh)

The number of homes on the market in the Triangle fell 14% in February compared with the same period a year ago, while sales increased 11%. Inventory in the market, which includes Durham, Johnston, Orange and Wake counties, has fallen for 18 consecutive months.

Charlotte approves mixed-use project across from SouthPark mall

March 22, 2016

(The Charlotte Observer)

Childress Klein will develop the property, which will include up to 490 apartments, a 175-room hotel, offices, shops and a 750-seat building that will be the new home of Sharon United Methodist Church. The existing church will be demolished to make way for the mixed-use project.

Asheville's Parsec Financial expands with purchase of Millard & Co.

March 22, 2016

(Asheville Citizen-Times)

Asheville wealth management firm Parsec Financial will expand in southwestern North Carolina and upstate South Carolina with the acquisition of Tryon-based Millard & Co. Founder Andy Millard is stepping aside to focus on his campaign for North Carolina's 10th Congressional District.