Business

Reynolds American may sell Doral in tobacco merger

October 28, 2014

(Winston-Salem Journal)

Reynolds American may have to include its Doral cigarette brand as part of its divestiture to Imperial Tobacco Group in order to receive Federal Trade Commission approval for its proposed acquisition of Greensboro-based Lorillard. Winston-Salem-based Reynolds has already agreed to sell Kool, Salem and Winston brands as well as Lorillard's blu eCigs electronic-cigarette brand.

Family Dollar shareholders to vote on Dollar Tree deal Dec. 11

October 28, 2014

(The Charlotte Observer)

Matthews-based Family Dollar Stores will hold a shareholder vote on its planned $8.5 billion sale to Chesapeake, Va.-based Dollar Tree on Dec. 11. Family Dollar's board rejected a $9.1 billion offer from Tennessee-based rival Dollar General.

Piedmont Natural Gas receives regulatory approval for pipeline

October 28, 2014

(StarNews, Wilmington)

State regulators approved Piedmont Natural Gas's participation in the 550-mile Atlantic Coast Pipeline, which will transport gas from Marcellus shale basins in West Virginia and Pennsylvania through Virginia and Eastern N.C. The approval allows Piedmont, Richmond, Va.-based Dominion Resources, Charlotte-based Duke Energy and Atlanta-based AGL Resources to begin the filing process for federal approval of the pipeline.

Charlotte Hornets second in the NBA in season-ticket sales

October 27, 2014

(The Charlotte Observer)

The newly rebranded Charlotte Hornets trail only one NBA team – the Cleveland Cavaliers – in full-season ticket sales. The Hornets, which begin regular season play on Wednesday, also beat their own record for season ticket sales – counting partial plans and renewals, the team has sold the equivalent of 10,000 season tickets.

Harnett Health CEO resigns amid layoffs

October 27, 2014

(The Fayetteville Observer)

Ken Bryan resigned as CEO of Harnett Health on Friday, and the troubled health system laid off an unspecified number of workers. The system lost more than $24 million in the year ended September 2013, according to tax records. Harnett Health's hospitals in Dunn and Lillington are managed by Raleigh-based WakeMed Health and Hospitals.

Novartis sells Holly Springs vaccine plant

October 27, 2014

(WRAL TechWire)

Novartis will sell its vaccines business, including its production plant in Holly Springs, to Australia-based CSL in a deal valued at $275 million. Basel, Switzerland-based Novartis received more than $40 million in state and local incentives to build the plant, which opened five years ago and employs 550 people.

Chiquita shareholders reject Fyffes merger

October 27, 2014

(The Charlotte Observer)

Analysts say Chiquita Brands International is almost certain to accept a buyout offer from privately-owned Brazilian companies Cutrale and Safra Group after Chiquita shareholders on Friday rejected a planned merger with Dublin-based Fyffes. Lured by almost $23 million in state and local incentives, Chiquita relocated from Cincinnati to Charlotte in 2011.

Beaufort tops Travel + Leisure list of favorite towns

October 27, 2014

(Carteret County News-Times)

Beaufort tops Travel + Leisure's 2014 list of America's favorite small towns – those with fewer than 50,000 residents – selected by the magazine's readers. The coastal town improved from No. 4 in 2013 and bested well-known towns including Aspen, Colo., and Myrtle Beach, S.C. 

Heavner's University Directories files for bankruptcy

October 27, 2014

(The News & Observer, Raleigh)

Chapel Hill-based publisher University Directories has filed for Chapter 11 bankruptcy protection. Owner James Heavner says his company is trying to avoid a hostile takeover by Greg Lindberg, president of Durham-based Eli Global. Meanwhile, another of Lindberg's companies has filed a lawsuit against University Directories and Heavner's other businesses over financial mismanagement.

Industry report shows furniture manufacturing returning to US

October 27, 2014

(High Point Enterprise)

A new report shows that offshoring is losing its appeal with American manufacturers as labor costs rise in Asia. Other reasons manufacturers are bringing jobs back the U.S. include access to skilled labor, lower transportation costs and ease of the business environment. The report notes that Mexico – which has lower manufacturing costs than China – is continuing to emerge as an industry leader.