Business

Charlotte-based union of US Airways pilots files lawsuit over seniority

March 5, 2014

(The Charlotte Observer)

A union representing US Airways pilots has filed a lawsuit over who should have seniority after the airline's merger with American Airlines. Seniority is a factor in deciding which routes and planes pilots fly, which determines how much money they make. 

Buncombe commissioners approve funding for Moogfest

March 5, 2014

(Asheville Citizen-Times)

The Buncombe County Board of Commissioners approved a request to give $90,000 to Moogfest, the annual electronic music festival to be held in April that will expand this year to include a technology expo. Festival organizers expect a $30 million economic impact from the five-day event.

British media outlets say Reynolds American may acquire Lorillard

March 4, 2014

(The Winston-Salem Journal)

Two British media outlets reported that Winston-Salem-based Reynolds American could offer $18 billion to $22 billion to purchase rival Lorillard. The two tobacco companies are reported to be in negotiations, though neither company would comment on the speculation.

National parks made $2 billion impact on Western NC in 2012

March 4, 2014

(Asheville Citizen-Times)

A National Park Service study shows that visitors to the Blue Ridge Parkway, Carl Sandburg Home and the Great Smoky Mountains National Park in Western N.C. supported 23,201 jobs in 2012 and made a $2 billion economic impact on the region.

Charlotte to host CIAA tournament for six more years

March 4, 2014

(The Charlotte Observer)

The CIAA announced it will keep its annual basketball tournament in Charlotte for another six years, and it will relocate its headquarters there from Hampton, Va. After tournament officials said they may seek proposals from other cities to host the tournament after this year, the Charlotte Regional Visitors Authority increased its financial commitment to the CIAA from $1 million to $1.4 million. 

Wilson Medical Center now part of Duke LifePoint

March 4, 2014

(The Wilson Times)

Wilson Medical Center finalized a joint venture that gives Duke LifePoint Healthcare an 80% ownership stake in the hospital. Terms of the agreement include $120 million in capital improvements over the next decade.  

Biltmore tops list of NC tourist attractions

March 4, 2014

(Asheville Citizen-Times)

Matthews-based Carolina Publishing Associates ranked Biltmore Estate in Asheville as the state's most visited attraction in 2013, ahead of the N.C. Museum of Natural Sciences in Raleigh and the North Carolina Zoo in Asheboro.

BB&T now 12th largest bank in the nation

March 4, 2014

(The Winston-Salem Journal)

On a quarterly report issued by SNL Financial, BB&T moved up a spot to become the 12th largest U.S. bank. The Winston-Salem-based bank reported $182.3 billion in total assets, up $300 million from the previous report in November.

Receiver in Lexington-based Ponzi scheme sues former execs, key players

March 4, 2014

(The Lexington Dispatch)

The court-appointed receiver in the Zeek Rewards case filed lawsuits against former company executives and a group of the largest "winners" in the Ponzi scheme to try to recover an additonal $200 million. 

Raleigh food-processing company receives $18 million in new investments

March 4, 2014

(The News & Observer, Raleigh)

Raleigh-based Aseptia, which operates as Wrights Foods, will announce it has raised $18 million in new funding, including nearly $8 million from Raleigh investment firm Lookout Capital. The company uses technology developed by N.C. State University food scientists to produce packaged foods at a Montgomery County plant.