Business

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.

Advocacy group says Duke Energy paid no federal taxes from 2008-2012

February 27, 2014

(The News & Observer, Raleigh)

Citizens for Tax Justice issued a report that claims a corporate tax loophole allowed Charlotte-based Duke Energy to avoid paying federal taxes in recent years. A Duke spokesman says the company's taxes were lowered by bonus depreciation rules and that the utility pays hundreds of millions of dollars in state and local taxes each year.

Chapel Hill-Durham light-rail plan gets federal approval

February 27, 2014

(The News & Observer, Raleigh)

The Federal Transit Administration approved a light-rail line that will run through Orange and Durham counties. The 17-mile line will connect UNC Hospitals, Durham's South Square, Duke University Medical Center and N.C. Central University.