Business

How Live Oak's Chip Mahan set out to create a different kind of bank

February 29, 2016

(Greater Wilmington Business Journal)

Live Oak Bancshares, the only publicly traded company headquartered in Wilmington, has rocketed since its inception in 2008 to become the nation's second-largest SBA lender, with assets totaling more than $1 billion at the end of 2015. Founder and CEO Chip Mahan deliberately set out to create a different type of bank that is employee-centric and capable of expanding in the coastal city, which is not known as a financial center.

Potential MetLife sale makes Charlotte workers uneasy

February 29, 2016

(The Charlotte Observer)

Some of the roughly 200 employees at MetLife's Premier Client adviser group in Charlotte say they are worried about losing their jobs. The New York-based company said Friday it is in talks with MassMutual to sell the unit.

3 film projects receive state incentives

February 29, 2016

(Asheville Citizen-Times)

Lionsgate TV was awarded a $4 million state film grant for a remake of the 80s movie Dirty Dancing. Filming will take place in Buncombe and Jackson counties. The state Commerce department also awarded film grants for Shots Fired, a TV show that will film in Charlotte, and an independent movie titled Three Billboards Outside Ebbing, Missouri, which will film in western N.C.

UNC medical school opens Wilmington campus

February 29, 2016

(Greater Wilmington Business Journal)

UNC School of Medicine will open in March a branch campus at New Hanover Regional Medical Center, where up to 24 third- and fourth-year students will train for an entire year.

CFCC performing arts center gets $1.5M donation

February 29, 2016

(StarNews, Wilmington)

Allan and Laura Wilson have donated $1.5 million for naming rights to Cape Fear Community College's Humanities and Fine Arts Center, which opened in October. The Wilsons are part of a family that once owned 20 grocery stores in the Wilmington region. The Wilsons Supermarket chain was sold in 1994.

Cary's Biologics sold to McKesson as part of $1.2B deal

February 26, 2016

(The News & Observer, Raleigh)

San Francisco-based McKesson will acquire Biologics, a Cary-based pharmaceutical services firm, and Vantage Oncology, based in California, for a total of $1.2 billion. Biologics employs 365 people in Cary; a spokeswoman says the company doesn't expect any staffing changes as a result of the acquisition.

MetLife in talks with MassMutual to sell adviser group

February 26, 2016

(The Charlotte Observer)

Insurer MetLife said Thursday it is in talks with Massachusetts Mutual Life Insurance about selling its Premier Client Group, part of MetLife's retail operation that is headquartered in Charlotte. New York-based MetLife employs about 1,500 in Charlotte's Ballantyne Corporate Park.

BASF to lay off 100 at RTP

February 26, 2016

(The News & Observer, Raleigh)

German chemical manufacturer BASF is cutting 350 jobs in its plant science division, including about 100 at Research Triangle Park. The company is streamlining several of its research and development projects. BASF employs about 1,000 people at RTP.

Tape manufacturer creating 49 jobs in Cabarrus County

February 26, 2016

(The Independent Tribune, Concord)

Intertape Polymer will invest $40 million in a production facility in Midland, creating 49 jobs. The publicly traded company, with dual headquarters in Montreal and Sarasota, Fla., makes tapes and cloths for the automotive and aerospace industries. The new plant is expected to open by mid-2017.

Craven County golf course closing after 51 years

February 26, 2016

(New Bern Sun Journal)

Carolina Pines Golf and Country Club is closing due to a decline in business, partner Joe Mospaw says. Mospaw bought the 51-year-old club and golf course in 2001. Over the last 15 years, membership has declined from about 200 members to 51 members.