Business

Belk reports lower profits in first quarter

May 29, 2014

(The Charlotte Observer)

Sales remained flat and profits fell in the first quarter for Charlotte-based Belk Inc., the department-store chain announced on Wednesday. Belk's expenses were greater due to investments in store remodels and the company's website.

House of Raeford to hire 200 at Davie County chicken plant

May 28, 2014

(Winston-Salem Journal)

Rose Hill-based House of Raeford Farms will open a poultry-processing plant in Mocksville and hire 200 workers over the next two years. The company, which eliminated 890 jobs in Raeford and Rose Hill last year, bought the former Crestwood Farms/Townsend 65,000-square-foot plant for an undisclosed amount and plans to resume production there this summer. 

Charlotte Douglas to allow cab companies to rebid on contracts

May 28, 2014

(The Charlotte Observer)

Charlotte Douglas International Airport will accept proposals from taxi companies for contracts that will begin next year. Interim Aviation Director Brent Cagle extended contracts for the three cab companies currently operating there for one more year. The FBI is investigating the taxi contracts after allegations of a pay-to-play scheme surfaced when former Mayor Patrick Cannon was arrested on federal corruption charges. 

Kings Mountain leader writes 76-page manifesto against casino

May 28, 2014

(The Shelby Star)

Kings Mountain City Councilman Keith Miller wrote in a 76-page document that a proposed casino and resort could have a negative effect on churches in the area and the city's spiritual health. Miller is the only council member who has spoken out against the Catawba Indian Nation casino, which could bring up to 4,000 jobs to Cleveland County if built.

Gintzig to stay on as CEO of WakeMed

May 28, 2014

(WRAL.com)

Retired Admiral Donald Gintzig, who has served as interim CEO of 884-bed WakeMed Health and Hospitals, will assume the position permanently. Gintzig stepped in after longtime president and CEO Bill Atkinson resigned in September. 

Bank of America submits new capital plan

May 28, 2014

(The Charlotte Observer)

Bank of America has submitted a new capital plan to the Federal Reserve a month after an internal review found the bank had overstated its capital by about $4 billion. BofA had planned a quarterly dividend increase before it recognized the mistake; that plan was suspended and the bank says its new capital plan will return less money to shareholders. 

RTP to share $1 million grant for STEM mentoring

May 28, 2014

(WRAL TechWire)

RTP was selected as one of seven communities nationwide to share in a $1 million grant to advance STEM mentoring. The RTP coalition of 41 companies and educational organizations was selected from 52 cities that applied for the national grant, which was sponsored by the US2020 organization and awarded at the White House on Tuesday.

 

Eaton to close Charlotte plant, cut 90 jobs

May 28, 2014

(The Charlotte Observer)

Eaton Corp. will close a manufacturing plant in Charlotte and will lay off 90 workers by year-end. The Irish company is moving the jobs to plants in Auburn, Ind., and Mexico. The Charlotte plant manufactures commercial vehicle clutches.

Wake Forest promotes Iacovou to dean of business school

May 28, 2014

(Winston-Salem Journal)

Charles Iacovou will become dean of the Wake Forest School of Business effective July 1. Iacovou has been with the university for seven years and has served as vice dean for the past two years. He replaces Steve Reinemund, who is stepping down after six years in the post.

Highland Brewing plans summer beer festival

May 28, 2014

(Asheville Citizen-Times)

Highland Brewing will hold a beer and music festival on July 26, the same weekend the city's Bele Chere festival was held previously. Highland's Ale Share festival will donate proceeds to the Asheville Parks and Greenway Foundation.