Business

Cooper appeals decision to let Aqua NC bypass public hearings

July 7, 2014

(The Winston-Salem Journal)

State Attorney General Roy Cooper appealed the N.C. Utilities Commission's decision to allow Aqua North Carolina to raise rates without first holding a public hearing. Aqua N.C. is the state's largest private water utility and serves 250,000 customers in 52 counties.

Conservationists oppose wood-pellet project at Port of Wilmington

July 7, 2014

(Greater Wilmington Business Journal)

Conservation organizations are questioning sustainability practices of a company that plans to build a wood-pellet storage center at Port of Wilmington. Baltimore-based Enviva is considering sites in Sampson and Richmond counties for wood-pellet plants. Products would stored in Wilmington, then shipped to Europe for use as fuel.

SunTrust agrees to $320 million settlement

July 7, 2014

(The Charlotte Observer)

Atlanta-based SunTrust Banks will pay up to $320 million to resolve a criminal investigation claiming it misled homeowners who applied for loan modifications under a federal bailout program between 2009 and 2010.

Section of High Point's Montlieu Ave. to close for HPU expansion

July 7, 2014

(High Point Enterprise)

A half-mile section of Montlieu Ave. in High Point will close to through traffic July 30 and will become an entrance for High Point University's new pharmacy and health sciences schools. School officials said earlier this year they would consider locating the schools outside of High Point if the city couldn't help accommodate the expansion.

Share prices rise after another report of potential tobacco merger

July 7, 2014

(Winston-Salem Journal)

After CNBC reported that a merger deal between Winston-Salem-based Reynolds American and Greenboro-based Lorillard could be announced by the end of the month, share prices rose for both companies on Thursday.

Concord Mills to hold 'Better than Tax Free' sale

July 3, 2014

(The Charlotte Observer)

Concord Mills mall will hold a special shopping event July 25-27 to replace the tax-free holiday customers relied on for back-to-school shopping. North Carolina lawmakers last year repealed the sales tax holiday, which cost the state more than $13.6 million in tax revenue in 2012.

Icahn purchases underlying shares in Family Dollar

July 3, 2014

(The Charlotte Observer)

Investor Carl Icahn spent $622 million to purchase almost 10.7 million shares of Matthews-based Family Dollar on Wednesday. He previously held most of his 9.4% stake through options. 

Martin Marietta completes purchase of Texas Industries

July 3, 2014

(The News & Observer, Raleigh)

Raleigh-based Martin Marietta Materials completed its $2.7 billion acquisition of Texas Industries. The deal makes Martin Marietta the largest U.S. supplier of construction aggregate products including gravel and sand for use in building sidewalks and highways.

Shuckin' Shack secures first franchisees

July 3, 2014

(Greater Wilmington Business Journal)

The owners of Shuckin' Shack restaurants have signed two franchisees who plan to open locations in Topsail Beach and Porters Neck. Three restaurants also are planned in the Charlotte area. The original Shuckin' Shack opened in Carolina Beach in 2007 followed by one in downtown Wilmington in 2012.  

CommunityOne Bank expanding in Triad

July 3, 2014

(Winston-Salem Journal)

Charlotte-based CommunityOne Bank plans to open a Winston-Salem office and has hired three commercial bankers previously with Greensboro-based NewBridge Bank to increase its presence in the Triad. The community bank has 50 branches and about $2 billion in assets.