Business

Wilson's Barton College names new president

January 12, 2015

(The Wilson Times)

Douglas Searcy was named president of Barton College in Wilson. He is currently vice president for student affairs at the University of Mary Washington in Fredericksburg, Va. Searcy will replace Norval Kneten, who is retiring at the end of the current academic year.

Novant Health partners with West Virginia health system

January 12, 2015

(Winston-Salem Journal)

Novant Health has entered into a shared-services agreement with Morganton, W.V.-based Monongalia Health System. The Winston-Salem-based health system now has shared-services partnerships, which help smaller hospitals cut expenses by increasing purchasing power and sharing technology services, with seven hospital systems.

High Point packaging manufacturer to be acquired

January 12, 2015

(High Point Enterprise)

A High Point manufacturer founded as a box company in 1928 is being sold to New-Indy JV Corp., a joint venture between the Kraft Group and Indianapolis-based Schwarz Partners. Carolina Container employs about 250 people at locations in High Point, Archdale and Thomasville. No layoffs or plant closures are expected.

Argos Therapeutics shares fall sharply

January 12, 2015

(The News & Observer, Raleigh)

Durham-based Argos Therapeutics reported disappointing drug trial results for an experimental HIV drug, and shares fell 32% on Friday.

DOT projects millions in road repairs from fracking

January 9, 2015

(The News & Observer, Raleigh)

The N.C. Department of Transportation projects a single fracking site would require 1,290 to 1,650 trucks, which could cause millions of dollars in damage to state roads and bridges. An example cited in a DOT study projects $11 million in maintenance and repairs as a result of drilling for shale gas.

Profits sink at Family Dollar as takeover battle shrinks employment

January 9, 2015

(The Charlotte Observer)

Family Dollar Stores has lost employees as a result of uncertainty over the retailer's future, CEO Howard Levine said Thursday. The Matthews-based company's profits fell 47% to $41.4 million in the first quarter, down from $78 million a year ago.

J.C. Penney closing four NC stores

January 9, 2015

(The Charlotte Observer)

J.C. Penney plans to close 40 underperforming stores, including four in North Carolina, resulting in 2,250 job cuts nationwide. The struggling retailer will close stores in Asheboro, Elizabeth City, Statesville and Wilson in early April.
Related: Two Hanes Mall stores spared from closings list

Rex Healthcare names interim president

January 9, 2015

(The News & Observer, Raleigh)

Rex Healthcare named Steve Burriss interim president, effective immediately. He replaces David Strong, who will become CEO of Orlando Health in Florida. Burriss has worked for Rex since 1998; his positions have included VP of operations and ambulatory services.

Live Oak Bank opens office near California wine country

January 9, 2015

(Greater Wilmington Business Journal)

Live Oak Bank has opened an office in Santa Rosa, Calif., near the Napa and Sonoma wine-growing regions. The Wilmington-based lender hopes to provide financing to wineries, vineyards and breweries. Live Oak provides SBA loans to companies in specific industries including veterinarians, financial advisers and dentists (Regional Report, April 2013).

Chapel Hill's Cempra expects to raise $120M in stock offering

January 9, 2015

(The News & Observer, Raleigh)

Chapel Hill-based Cempra expects to receive $120.6 million in net proceeds from a secondary stock offering. The pharmaceutical company said it plans to sell 5.25 million shares at $24.50 each.   Cempra previously said it planned to sell about $100 million of common stock.