Business

Report: Expect more hospital mergers, partnerships

October 27, 2014

(Winston-Salem Journal)

A recent report shows that the trend of consolidation among health-care providers will continue. The report, released last week by Standard & Poor's Rating Services, says the need to reduce costs – largely due to shrinking reimbursement rates from federal and state governments – will drive more not-for-profit health-care systems into cost-saving partnerships and mergers. 

Retiring Wells Fargo exec reflects on time in Charlotte

October 27, 2014

(The Charlotte Observer)

Laura Schulte, who oversees about 2,700 branches as president of Wells Fargo's Eastern U.S. community-banking operations and will retire by year-end, says Charlotte must continue diversifying its economy beyond banking and should take a regional approach to growth. 

Kinston brewery celebrates five-year anniversary

October 27, 2014

(The Free Press, Kinston)

Hundreds of people visited Kinston on Saturday to celebrate Mother Earth Brewing Co.'s five-year anniversary. The company also began selling gin and whiskey Saturday.
Read about Kinston's up-and-coming restaurant scene in "Recipe for Recovery" from Business NC's October issue

Thomas Built Buses adding 236 jobs in High Point

October 24, 2014

(Winston-Salem Journal)

Thomas Built Buses confirmed Thursday it will add 236 jobs and invest $11.8 million in an expansion of its High Point plant, where it currently employs about 1,400 full- and part-time workers. The company will receive $372,098 in local incentives – it didn't request state incentives for the expansion.

SAS ranks No. 2 on global list of best places to work

October 24, 2014

(WRAL TechWire)

Cary-based SAS Institute was ranked No. 2 on the Great Place to Work Institute's list of best global workplaces, behind Mountain View, Calif.-based Google for the second year in a row.

Mesa Airlines leaving Charlotte Douglas airport

October 24, 2014

(Winston-Salem Journal)

Mesa Airlines informed the N.C. Department of Commerce it will discontinue operations a Charlotte Douglas International Airport, eliminating 631 jobs. Most affected employees have accepted company jobs outside of Charlotte. The shutdown is due to US Airways' decision to move Mesa's contract operations to another location.

Frontier bringing gigabit Internet to some Triangle locations

October 24, 2014

(WRAL TechWire)

Frontier Communications will offer the first gigabit Internet service that is up to 100 times faster than cable at some locations in Durham and Research Triangle Park, but prices are not cheap. Residents will pay $219 a month for one-gigabit service but there's no installation fee or contract required.

Biotech center issues almost $900,000 in loans, grants

October 24, 2014

(The News & Observer, Raleigh)

The North Carolina Biotechnology Center issued $885,586 in grants and loans in the first quarter. Chapel Hill-based Novocor Medical Systems and KinoDyn each received $250,000 loans, as did Winston-Salem-based KeraNetics. The state restored $1 million in funding to the nonprofit center for the 2014-15 fiscal year 

TIMCO changes name to Haeco

October 24, 2014

(News & Record, Greensboro)

Greensboro's TIMCO Aviation is now called Haeco. Hong Kong Aircraft Engineering Co. paid $338.8 million for TIMCO in 2013 and now operates its worldwide companies under the Haeco Group name. The company maintains and repairs jet airplanes and employs about 1,800 in the Triad.

Brazilian companies increase offer ahead of Chiquita merger vote

October 24, 2014

(The Charlotte Observer)

Two Brazilian companies increased their buyout offer from $14 a share to $14.50 a share Thursday in a last-minute effort to convince shareholders of Chiquita Brands International to choose its offer over that of Irish produce company Fyffes. Chiquita shareholders will vote at 9 a.m. Friday on the proposed merger.