Business

Durham-based Dilweg buys Charlotte office tower for $25.3M

February 3, 2015

(The Charlotte Observer)

Durham-based The Dilweg Companies paid $25.3 million for the 17-story Johnston Building in downtown Charlotte. The 172,000-square-foot building was Charlotte's tallest building when it opened in 1924. Dilweg, which acquired the 32-story 121 West Trade in 2013, now owns 850,000 square feet of office space in Charlotte.

Wells Fargo still most valuable banking brand

February 3, 2015

(Winston-Salem Journal)

Brand Finance again ranked San Francisco-based Wells Fargo as the most valuable global banking brand. Charlotte-based Bank of America fell three spots to sixth place on the global ranking. BofA came in at No. 3 on the U.S. rankings, behind top-ranked Wells Fargo and New York-based Citi.

Durham developer to rehab Fayetteville hotel

February 3, 2015

(The Fayetteville Observer)

The new owners of Fayetteville's Prince Charles Hotel property plan to spend $11 million renovating the building into apartments with street-level retail shops. Project manager Michael Lemanski, founder of Durham-based Greenfire Real Estate Holdings, has led the revitalization of much of downtown Durham over the last 15 years. 

Regulators approve BB&T's purchase of Texas Citibank branches

February 3, 2015

(Winston-Salem Journal)

BB&T received regulatory approval for its proposed acquisition of 41 Citibank branches in Texas and plans to close the deal on March 20. The Winston-Salem-based bank acquired 21 Citibank branches in June 2014 for $36 million. BB&T will become the 12th largest bank in Texas, with 123 branches and $5.3 billion in deposits.

Charlotte-based Jeffrey Brown named CEO of Ally Financial

February 3, 2015

(The Charlotte Observer)

Detroit-based lender Ally Financial named Charlotte-based Jeffrey Brown CEO. Brown will replace Michael Carpenter, who is retiring. Brown, 41, was most recently president and CEO of Ally's automotive financial-services business.

UNC Wilmington chancellor search committee narrows list

February 3, 2015

(Greater Wilmington Business Journal)

The search committee for UNC Wilmington's new chancellor expects to begin interviews in February, according to committee co-chairwoman Wendy Murphy. 

Charlotte's Pepsi bottling site marketed for redevelopment

February 3, 2015

(The Charlotte Observer)

Cushman & Wakefield Thalhimer is marketing a Pepsi bottling complex as a mixed-use site that could include retail, office and residential. It's one of the last parcels along the Blue Line light rail route in Charlotte's South End that hasn't been redeveloped. 

First Carolina Bank to open Raleigh office

February 3, 2015

(The News & Observer, Raleigh)

Rocky Mount-based First Carolina Bank plans to open a loan-production office in Raleigh later this year. Formed in July 2012, the community bank previously known as First Carolina State Bank has three N.C. branches in Greenville, Reidsville and Rocky Mount.

Rex ends contributions to employee pensions

February 3, 2015

(The News & Observer, Raleigh)

Rex Hospital will stop contributing to pensions of its employees who still have the retirement savings plans. The Raleigh hospital eliminated pensions for new hires in 2009. About half of its 5,600 employees – roughly 2,800 – have pensions.

Duke Energy CEO: Coal-ash spill changed company's attitude

February 2, 2015

(News & Record, Greensboro)

Duke Energy CEO Lynn Good said last year's coal-ash spill in the Dan River had a significant impact on the company, leading it to create a separate division focused on ash management. Monday marks the one year anniversary of the spill, which dumped tons of coal ash into the river (cover story, April 2014).
Related: A year after ash spill, open questions about Duke and the Dan