Business

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.

BlueScope Buildings investing $9.2M in Scotland County plant

June 4, 2015

(The Fayetteville Observer)

BlueScope Buildings North America will expand its Laurinburg manufacturing plant, adding 115 jobs over the next three years. The company, which makes components for engineered steel buildings, currently employs 38 people at the plant and more than 140 in North Carolina.

Charlotte's Capital Advisors sold to Cleveland firm

June 4, 2015

(The Charlotte Observer)

Capital Advisors will be acquired by Bellwether Enterprise, a Cleveland-based mortgage subsidiary of Enterprise Community Investment. Charlotte-based Capital, which has offices in Greensboro, Raleigh and across the southeast, will change its name but retain all its employees. The deal is expected to close by June 30.

Asheville's AvL Technologies adding 90 jobs

June 4, 2015

(Asheville Citizen-Times)

AvL Technologies will create 90 new jobs in an expansion of its Asheville plant, where it makes mobile satellite antenna systems. Buncombe County commissioners approved incentives of more than $300,000 for the 21-year-old company. AvL will invest at least $11.5 million in facility improvements.

BB&T gets approval to acquire The Bank of Kentucky

June 4, 2015

(The Charlotte Observer)

Winston-Salem-based BB&T received regulatory approval for its $363 million acquisition of The Bank of Kentucky. The deal is expected to close June 19. The Bank of Kentucky has 32 offices in northern Kentucky and Cincinnati and about $1.9 billion in assets.

UNC Charlotte economist predicts solid growth in NC

June 4, 2015

(The Charlotte Observer)

UNC Charlotte economist John Connaughton predicts the state's economy will grow at a rate of 2.5% in 2015. Connaughton, who presented his quarterly update on Wednesday, said North Carolina should add about 82,100 jobs this year, compared with 110,200 in 2014.

Burrus named dean of UNC Wilmington's business school

June 4, 2015

(Greater Wilmington Business Journal)

Following a national search, Robert Burrus was named dean of the Cameron School of Business at UNC Wilmington. Burrus has been interim dean for the last year, since Larry Clark resigned to become chancellor of LSU-Shreveport. Burrus said he hopes to increase fundraising efforts at the school.

Shipping customers await completion of dredging

June 4, 2015

(The News & Observer, Raleigh)

Completion of a dredging project underway near Port of Morehead City will allow the port's largest customers, which include steelmaker Nucor and fertilizer-maker PotashCorp Aurora, to resume normal operations. Navigation channels currently are too shallow for freighters to carry heavy loads.

'Secrets and Lies' moves production to California

June 4, 2015

(StarNews, Wilmington)

The ABC television series Secrets and Lies will film its second season in California. The first season was filmed in the Wilmington area between July and November of 2014. California recently expanded its film incentive program from $100 million to $330 million annually to attract more projects.