Business

NetApp cutting 1,500 jobs

February 18, 2016

(Fortune)

Sunnyvale, Calif.-based NetApp said Wednesday it will trim 12% of its workforce, or about 1,500 workers, by 2017 as part of a restructuring. Third-quarter sales of $1.39 billion fell short of analysts' projections. The data-storage company employs about 1,600 in Research Triangle Park. 
Also: In NetApp CEO's own words: Why he's cutting 12% of workforce

Manganiello to lead cast of military drama filming in Wilmington

February 18, 2016

(StarNews, Wilmington)

A&E Studios' production of Six, which will air on the History channel, will star Joe Manganiello, known for his roles in True Blood and Magic Mike. Production will begin in March in Wilmington. Six is a military drama about the lives of the members of Navy SEAL Team Six.

Huge demand for New Belgium jobs in Asheville

February 18, 2016

(Asheville Citizen-Times)

New Belgium Brewing received about 200 applications for each of the 20 jobs at its Liquid Center tasting room in West Asheville. The brewery now has about 80 employees; a spokeswoman said that number should increase to 140-150 by the end of 2017. When the tasting room opens later this month, the Colorado company will become Buncombe County's 25th craft brewery.

Salisbury manufacturer files for bankruptcy protection

February 18, 2016

(The Salisbury Post)

The parent company of Norandal USA has filed for Chapter 11 bankruptcy protection. The company said demand is still high for its flat-rolled products division that produces aluminum foil and sheeting, including at its Salisbury plant. Norandal employs 150 to 200 workers in Salisbury.

Yadkin Bank sweetens merger deal with special dividend

February 17, 2016

(Winston-Salem Journal)

Yadkin Financial will issue an "extraordinary" dividend of 50 cents for shareholders, who are scheduled to vote next week on the Raleigh bank's $456 million purchase of Greensboro's NewBridge Bancorp. Regulators have approved the merger, which will create a company with $7.1 billion in assets.

Wilmington construction materials company bought by Colo.-based firm

February 17, 2016

(Greater Wilmington Business Journal)

Wilmington-based American Materials Co. was acquired by Summit Materials for an undisclosed amount. Summit is a publicly traded construction materials company based in Denver with operations in 17 states. AMC has five gravel and rock processing plants in the Carolinas.

Crescent Communities adds homebuilding arm

February 17, 2016

(The Charlotte Observer)

Charlotte developer Crescent Communities is launching Fielding Homes, a new division that will build single-family homes. The company will build 64 homes in a Fort Mill, S.C., subdivision.

Wilmington to study moving rail lines out of city

February 17, 2016

(StarNews, Wilmington)

A Wilmington task force will spend $300,000 on a study that will look at moving rail traffic out of the heart of the city, where tracks cross local streets 32 times, creating traffic and safety concerns. A realignment could provide a more direct path to the Port of Wilmington, while some existing tracks could be used for a trolley service, city councilwoman Laura Padgett said.

Piedmont Triad Partnership touts big opportunities for region

February 17, 2016

(News & Record, Greensboro)

The Piedmont Triad Partnership CEO Stan Kelly said Tuesday that locations such as Whitaker Park in Winston-Salem, Piedmont Triad International Airport and two megasites could attract big employers to the Triad and have the potential to transform the region's economy.

Mooresville's Blueharbor Bank expands to Charlotte

February 17, 2016

(The Charlotte Observer)

Blueharbor Bank, an 8-year-old community bank based in Mooresville, has opened a loan-production office in Charlotte's SouthPark neighborhood. CEO Jim Marshall said the bank could open a full-service branch there in a year or two.