Business

California HVAC manufacturer to open Rutherford County plant

February 28, 2014

(Asheville Citizen-Times)

California-based Team Air Inc. will open a manufacturing plant in Rutherford County and will create 70 jobs there. The company is investing $4.2 million over the next three years at the plant, which will make custom HVAC products for commercial and industrial customers.

Wells Fargo cuts more jobs in mortgage division

February 28, 2014

(The Winston-Salem Journal)

Wells Fargo will lay off 25 more mortgage workers in Charlotte and three in Wilmington. The San Francisco-based bank which has a regional headquarters in Charlotte announced 700 nationwide layoffs in this round of cuts. The layoffs follow deep cuts in its mortgage division last August and September.

Bank of America protests $2.1 billion federal penalty

February 28, 2014

(The Charlotte Observer)

Bank of America says a federal government request for the bank to pay a $2.1 billion penalty over bad home loans its Countrywide division sold to Fannie Mae and Freddie Mac is unfair and legally flawed.

Pender County golf course sells for $1 million

February 28, 2014

(StarNews, Wilmington)

Two area real-estate developers have purchased Topsail Greens Golf Club in Hampstead for $1.05 million and plan to redevelop the property as a residential and commercial project called Wyndwater. The 40-year-old golf course closed last spring when First Federal Bank foreclosed on it. 

IBM begins layoffs at RTP

February 28, 2014

(The News & Observer, Raleigh)

IBM began job cuts in Research Triangle Park and at nine other locations across the U.S. on Thursday, part of a workforce rebalancing the Armonk, N.Y.-based company previously announced. The company will not say how many employees are affected. 

Salix Pharmaceuticals projects $1.6 billion revenue in 2014

February 28, 2014

(The News & Observer, Raleigh)

Raleigh-based Salix Pharmaceuticals is projecting $1.6 billion in revenue in 2014, the company said in a statement on Thursday. Salix makes drugs for the treatment of gastrointestinal ailments. Revenue for the fourth quarter was up 30% over the same period in 2012.

Harnett County paving company expands into Robeson County

February 28, 2014

(The Fayetteville Observer)

Lillington-based Johnson Bros. Utility and Paving will open a second asphalt plant in St. Paul's and hire 25 workers. The site is still under construction, and the company has not announced when it will open the Robeson County plant.

NY investment firm opens lending office for rental-home owners in Charlotte

February 28, 2014

(The Charlotte Observer)

BR2 Finance, a subsidiary of New York investment firm Blackstone Group, has opened a Charlotte office where it currently has 10 employees. The company loans money to landlords who wish to purchase more rental properties as investments. 

AT&T to hire 130 in North Carolina

February 28, 2014

(The News & Observer, Raleigh)

AT&T will hire 130 people across North Carolina in retail, call center and technician positions. The company invested $1.6 billion in the state over the past few years, and hired more than 1,100 workers in 2013.

Mortgage company selects Charlotte for headquarters

February 27, 2014

(The Charlotte Observer)

Irongate Home Finance will establish its headquarters in downtown Charlotte and will hire 125 people over the next 18 months. The mortgage company anticipates hiring 75 to 100 people per year through 2019. CEO Mark Marashlian said Charlotte's reputation as the second-largest banking center in the country contributed to the company's decision to locate there.