Business

Mecklenburg OKs incentives for Red Ventures expansion

February 17, 2016

(The Charlotte Observer)

Local governments will give Red Ventures $270,000 to expand in Charlotte, adding 500 jobs. That's in addition to $2.65 million the Indian Land, S.C.-based sales and marketing firm could receive from the state. The new jobs will pay an average of $48,000 a year.

Daimler to lay off 1,250 workers in Gaston, Rowan counties

February 16, 2016

(The Charlotte Observer)

The truck manufacturer said the cuts, expected to be temporary, are the result of a reduction in orders. Daimler will lay off about 700 employees at its Mount Holly plant in Gaston County and about 550 at its Cleveland plant in Rowan County, where the company already slashed 900 jobs earlier this year.

Driverless cars could be coming to Raleigh, NC State

February 16, 2016

(The News & Observer, Raleigh)

Raleigh is applying for a $40 million "Smart City" federal grant that it could use to launch an eco-friendly, driverless transit system. Engineers at N.C. State the unveiled plans for the system a few years ago, but the extra funding could help get the project off the ground. The first driverless cars would be installed around N.C. State's Centennial Campus.
Read more about the the EcoPRT program and the future of autonomous vehicles in this month's BNC

Top BofA execs get bigger stock awards

February 16, 2016

(The Charlotte Observer)

The Charlotte-based bank awarded more shares to its top executives compared with the previous year, according to regulatory filings. BofA's stock price is down about 29%, as investors are worried about declining oil prices and global economic conditions.

Kotis Properties unveils plans for Midtown Greensboro project

February 16, 2016

(News & Record, Greensboro)

The first two phases of on new mixed-use project in Greensboro's Midtown area will cost about $60 million and will include an eight-story apartment complex, 26,000 square feet of retail space, a rooftop terrace and a hotel.

ECU chancellor search continues

February 16, 2016

(The Daily Reflector, Greenville)

ECU's chancellor search committee will meet Wednesday in Raleigh to review candidates; three finalists will be submitted to UNC System President-Elect Margaret Spellings, who will submit her nomination on April 15. The new chancellor will start July 1.

Krispy Kreme adding 7 shops in Maine, New Hampshire

February 16, 2016

(Winston-Salem Journal)

The expansion will give the Winston-Salem company a presence in all but seven states: Massachusetts, Minnesota, North Dakota, Rhode Island, South Dakota, Vermont and Wyoming still don't have a Krispy Kreme doughnut shop.

Opposition grows over proposed Asheville power plant

February 16, 2016

(The Charlotte Observer)

Opponents of Duke Energy's plans to build two natural-gas power plants in the Asheville region will have to submit written critiques; a quick 45-day approval process requested by legislators leaves no time for customary hearings.

CSX looks to be losing interest in Johnston County

February 15, 2016

(The Raleigh News & Observer)

CSX Corp. has told some landowners around Selma that it is ending purchase agreements. The Jacksonville, Fla.-based railroad has considered Johnston County for a $272 million intermodal hub to speed deliveries between central North Carolina and the state's ports.

BofA's Moynihan earned $16M in 2015

February 15, 2016

(The Charlotte Observer)

Bank of America CEO Brian Moynihan's total compensation last year included a base salary of $1.5 million — unchanged from 2014 —  and $14.5 million in stock. Moynihan's total pay is higher than the $13 million he earned the year before and is the most he's been paid since becoming CEO in 2010.