Business

CFO of Rex Healthcare takes job in Florida

June 3, 2015

(The News & Observer, Raleigh)

Bernadette Spong, who had recently been promoted to chief financial officer at Raleigh-based Rex Healthcare, is leaving to become CFO of Orlando Health. Former CEO David Strong left Rex in April to lead the 8-hospital system in Florida. Erick Hawkins, vice president of heart and vascular services, will replace Spong as CFO of Rex.

McCrory attends groundbreaking of Wilmington cold-storage facility

June 3, 2015

(Greater Wilmington Business Journal)

A ceremonial groundbreaking was held Tuesday for a 101,000-square-foot cold-storage facility at the Port of Wilmington. Construction is expected to begin in about three weeks. The building will create 100 jobs and is expected to help increase exports and imports at the port.

Ashley Furniture could be for sale

June 3, 2015

(Winston-Salem Journal)

Privately held Ashley Furniture has hired investment bank Goldman Sachs to help it explore options for a private-equity investment. The nation's largest furniture manufacturer and retailer employs more than 900 people at a production and distribution center in Advance.

About 492,000 NC residents covered by ACA

June 3, 2015

(The Charlotte Observer)

A new federal tally shows a 492,014 North Carolina residents have health care coverage under the Affordable Care Act. The figure is down from the number reported after the enrollment period ended in February. About 93% of North Carolinians covered by the ACA receive federal subsidies.

 

Blue Cross and Blue Shield of NC seeks 25.7% rate increase

June 2, 2015

(The Charlotte Observer)

The state's largest health insurer is requesting an average 25.7% rate increase for Affordable Care Act customers in 2016. The rate increase is almost double last year's 13.5%. The Chapel Hill-based insurer covers 397,000 of North Carolina's 560,357 customers enrolled under the ACA.
Related: Rates for most ACA health plans in NC to rise in 2016; Durham delays decision whether to drop hometown insurer

 

Randolph commissioners OK land purchase for megasite

June 2, 2015

(News & Record, Greensboro)

Randolph County commissioners voted to spend $5.87 million on a 170-acre parcel of land that will form part of an 1,800-acre megasite area leaders hope will attract a car manufacturer. The county bought 255 acres in February. The total cost to acquire and develop land for the megasite could reach $100 million.

BNC Bancorp to buy CertusBank's SC branches

June 2, 2015

(Winston-Salem Journal)

High Point-based BNC Bancorp will acquire CertusBank's seven remaining branches in South Carolina, including three in Greenville. The deal, expected to close in October, will make BNC – parent company of Bank of North Carolina – the second largest community bank in the Palmetto State.
Also: CertusBank to sell banking operations, remaining branches

CEO of Chapel Hill-based Pozen retires

June 2, 2015

(The News & Observer, Raleigh)

Adrian Adams was named CEO of Pozen, replacing John Plachetka, who is retiring. Plachetka founded the Chapel Hill-based pharmaceutical company in 1996. Adams was CEO and president of Auxilium Pharmaceuticals, which was acquired by Endo Pharmaceuticals in January. The company's shares are down 13.5% this year.

A-B Tech faces budget shortfall

June 2, 2015

(Asheville Citizen-Times)

Asheville-Buncombe Technical Community College will lay off six employees and cut another four jobs through attrition as a result of an unexpected budget shortfall. The college will receive less state funding than expected due to a 4% drop in student enrollment.

Durham's M&F Bank diversifies board

June 2, 2015

(The News & Observer, Raleigh)

The parent company of Mechanics & Farmers Bank, which is rebranding Tuesday as M&F Bank, named Raleigh attorney Christopher Smith to its board of directors. He is the first non-African American to serve on the Durham-based bank's board.