Business

Kings Mountain leader writes 76-page manifesto against casino

May 28, 2014

(The Shelby Star)

Kings Mountain City Councilman Keith Miller wrote in a 76-page document that a proposed casino and resort could have a negative effect on churches in the area and the city's spiritual health. Miller is the only council member who has spoken out against the Catawba Indian Nation casino, which could bring up to 4,000 jobs to Cleveland County if built.

Gintzig to stay on as CEO of WakeMed

May 28, 2014

(WRAL.com)

Retired Admiral Donald Gintzig, who has served as interim CEO of 884-bed WakeMed Health and Hospitals, will assume the position permanently. Gintzig stepped in after longtime president and CEO Bill Atkinson resigned in September. 

Bank of America submits new capital plan

May 28, 2014

(The Charlotte Observer)

Bank of America has submitted a new capital plan to the Federal Reserve a month after an internal review found the bank had overstated its capital by about $4 billion. BofA had planned a quarterly dividend increase before it recognized the mistake; that plan was suspended and the bank says its new capital plan will return less money to shareholders. 

RTP to share $1 million grant for STEM mentoring

May 28, 2014

(WRAL TechWire)

RTP was selected as one of seven communities nationwide to share in a $1 million grant to advance STEM mentoring. The RTP coalition of 41 companies and educational organizations was selected from 52 cities that applied for the national grant, which was sponsored by the US2020 organization and awarded at the White House on Tuesday.

 

Eaton to close Charlotte plant, cut 90 jobs

May 28, 2014

(The Charlotte Observer)

Eaton Corp. will close a manufacturing plant in Charlotte and will lay off 90 workers by year-end. The Irish company is moving the jobs to plants in Auburn, Ind., and Mexico. The Charlotte plant manufactures commercial vehicle clutches.

Wake Forest promotes Iacovou to dean of business school

May 28, 2014

(Winston-Salem Journal)

Charles Iacovou will become dean of the Wake Forest School of Business effective July 1. Iacovou has been with the university for seven years and has served as vice dean for the past two years. He replaces Steve Reinemund, who is stepping down after six years in the post.

Highland Brewing plans summer beer festival

May 28, 2014

(Asheville Citizen-Times)

Highland Brewing will hold a beer and music festival on July 26, the same weekend the city's Bele Chere festival was held previously. Highland's Ale Share festival will donate proceeds to the Asheville Parks and Greenway Foundation.

Report: BofA hired to sell LA Clippers

May 28, 2014

(The Charlotte Observer)

Bloomberg News reports that Bank of America has been hired by Donald Sterling's estranged wife Shelly to sell the Los Angleles Clippers. Donald Sterling was banned from the National Basketball Association for making rascist comments. A person with direct knowledge of the situation said last week that Shelly Sterling wants at least $1 billion for the team.

Seafood prices rise as catches get smaller

May 27, 2014

(The News & Observer, Raleigh)

The state's commercial fish and shellfish harvests fell in 2013 for the fourth year in a row, according to a report from the N.C. Division of Marine Fisheries. Reasons for the decline include a smaller number of commercial fishermen, rising fuel costs and government regulations.

Beer tourism becoming economic driver in Western NC

May 27, 2014

(Asheville Citizen-Times)

Asheville-area beer festivals and tours are attacting visitors from across the state and beyond, as beer tourism grows and contributes to local economies. Sierra Nevada expects as many as 5,000 visitors at its Beer Camp Across America festival Aug. 3 in Mills River.