Business

Family Dollar CEO urges stockholders to support Dollar Tree deal

January 5, 2015

(The Charlotte Observer)

CEO Howard Levine once again urged Family Dollar Stores shareholders to back an $8.5 billion sale of the company to Chesapeake, Va.-based Dollar Tree. In a letter sent to stockholders on Friday, Levine said Dollar General's competing $9.1 billion bid is unlikely to be completed due to antitrust concerns. The Matthews-based retailer delayed a stockholder vote on the sale until Jan. 22.

Downtown redevelopment project could cost Wilmington $20M

January 5, 2015

(StarNews, Wilmington)

The city of Wilmington could have to pay between $11 million and $23 million for infrastructure improvements related to the private redevelopment of a downtown parking deck. The city council plans to recommend three finalists for the project at a Tuesday meeting.

Qorvo shares climb 2% on first day of trading

January 5, 2015

(News & Record, Greensboro)

Shares of microchip-maker Qorvo closed at $70.40 on Friday, up 2% from an opening price of $69. The company was formed when Greensboro-based RF Micro Devices acquired Hillsboro, Ore.-based TriQuint Semiconductor in a $1.56 billion deal. The company plans to maintain dual headquarters. 

Boston-based investor pays $77M for Durham apartments

January 5, 2015

(The News & Observer, Raleigh)

Boston-based Berkshire Group paid $77 million – $254,000 per unit – for Durham's Crescent Ninth Street apartment community. Last month, Berkshire set a Triangle record when it bought Crescent Cameron Village for $76.8 million, or $272,000 per unit. The apartments are part of a nine-property portfolio Berkshire is buying from Charlotte-based Crescent Communities.

Mission Health ends contract with American Red Cross

January 5, 2015

(The Sylva Herald)

Mission Hospital announced a new contract with South Carolina-based The Blood Connection, which provides blood and blood-related products. The Asheville-based health system says the contract will allow it to cut costs because the South Carolina nonprofit charges 15% less than the national average. Mission said the Red Cross was unable to meet its blood demands.

Frye Regional names new CEO

January 5, 2015

(The Watauga Democrat)

Mark Benz was named CEO of Hickory-based Frye Regional Medical Center. Benz comes from Philadelphia-based CRC Health, where he was a regional vice president. He previously held  leadership roles with Franklin, Tenn.-based Community Health Systems.

Biscuitville continues rebranding with new exterior look

January 5, 2015

(The Salisbury Post)

Greensboro-based Biscuitville has begun exterior renovations of its 54 restaurants. The company plans to spend $10 million in 2015 to transform the restaurant's country-themed appearance in a more modern one. The company also rolled out a new lunch menu in 2014, partnering with regional companies including Mount Olive Pickle and Greensboro-based Chandler Foods BBQ. 

White named chairman of Gastonia's Alliance Bank & Trust

January 5, 2015

(The Shelby Star)

Shelby City Council member David White will become chairman of Gastonia-based Alliance Bank & Trust Co., pending FDIC approval. He will succeed Wayne Shovelin, chairman of the board for 10 years, who is retiring. White started Shelby-based White Investments in 1988 and was an organizing member of Alliance Bank & Trust's board in 2004.

American Airlines pilots union approves labor agreement

January 5, 2015

(The Charlotte Observer)

The union representing pilots for Fort Worth, Texas-based American Airlines reached a labor agreement that could increase pay by more than 23%. Charlotte Douglas International Airport is American's second-busiest hub behind Dallas/Fort Worth.

Business leaders gather for economic-outlook program

January 5, 2015

(WRAL.com)

North Carolina business leaders will convene Monday at the annual Economic Forecast Forum, hosted by the North Carolina Bankers Association and the North Carolina Chamber. This year's event, held at Research Triangle Park, will feature a special focus on technology's economic impact in the state.