Business

NC House approves fracking bill

May 29, 2014

(The News & Observer, Raleigh)

The state House voted 63-52 Wednesday in favor of a bill that will allow the state to issue permits for fracking 61 days after new rules are approved. A final vote, likely to be held Thursday, is needed to approve the bill.

Dominion proposes pipeline to service Virginia, NC

May 29, 2014

(The News & Observer, Raleigh)

Richmond, Va.-based Dominion Resources wants to build a 450-mile pipeline to bring natural gas from the Appalachian Basin in West Virginia to parts of North Carolina and Virginia. The proposed pipeline, which would run through both states to Lumberton, would be operational by the end of 2018. 

Asheville solar company wants to build 12 mega-farms

May 29, 2014

(The Charlotte Observer)

Innovative Solar Farms wants to build 12 huge solar farms, mostly in Eastern N.C. The farms would range from 25 to 80 megawatts in size and would require hundreds of acres of leased land.

Hoke, Scotland counties prepare to shut down video sweepstakes businesses

May 29, 2014

(The Fayetteville Observer)

Hoke and Scotland counties will begin enforcing state gambling laws and will seize video sweepstakes machines beginning July 1. Records show there are 451 machines in at least 23 businesses in Scotland County. 

Durham's BioCryst to sell $100 million in stock

May 29, 2014

(The News & Observer, Raleigh)

BioCryst Pharmaceuticals is planning a $100 million public stock offering and plans to use the proceeds for general purposes and to fund its treatment for angioedema, a rare genetic disease that causes swelling of various body parts and airways. The Durham-based drug developer's stock rose 11% Tuesday after it reported positive results for the Phase 2 trial of the drug.

Former Wachovia CEO to lead NY investment group

May 29, 2014

(The Charlotte Observer)

Bob Steel will become chief executive officer of New York-based investment bank Perella Weinberg Partners beginning July 7. Steel became CEO of Wachovia in July 2008 and most recently has been deputy mayor for economic development of New York City.

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.