Business

ZeekRewards receiver to pursue $13M from financial institutions

February 19, 2016

(Winston-Salem Journal)

A U.S. Bankruptcy Court judge said Kenneth Bell, the receiver in the ZeekRewards.com case, can pursue up to $13.17 million from VictoriaBank of Moldova and two payment-processing companies. The Lexington-based company was shut down in 2012 after investigators uncovered the $850 million pyramid scheme ("Bounty Hunter," June 2015).

Williams Electric lays off 168 workers in Shelby

February 19, 2016

(The Charlotte Observer)

Williams Electric in Shelby will lay off 168 people as its contract with Duke Energy expires, but affected workers have been offered jobs with two other utility companies.

Chung: Foreign companies looking to invest in NC

February 18, 2016

(The Charlotte Observer)

Chris Chung, CEO of Cary-based Economic Development Partnership of North Carolina, said about 30% of the companies his group talks with are foreign-owned, and many are interested in acquiring N.C.-based companies rather than opening factories or offices here.

12 NC chefs named semifinalists for James Beard Awards

February 18, 2016

(The News & Observer, Raleigh)

Eight North Carolina chefs are in the running for the James Beard Award for Best Chef Southeast. Semifinalists include four Triangle chefs, Kinston's Vivian Howard, Davidson's Joe Kindred and Asheville's Brian Canipelli. Winners will be announced May 2. For the full list of semifinalists in all categories, click here.

ITG plans to lay off former Lorillard workers

February 18, 2016

(News & Record, Greensboro)

ITG Brands said Wednesday it will lay off an unspecified number of workers in Greensboro as contracts to produce brands for Reynolds American expire in June. ITG acquired Lorillard's cigarette plant last year as part of the $27.4 billion merger of Reynolds and Lorillard.

NetApp cutting 1,500 jobs

February 18, 2016

(Fortune)

Sunnyvale, Calif.-based NetApp said Wednesday it will trim 12% of its workforce, or about 1,500 workers, by 2017 as part of a restructuring. Third-quarter sales of $1.39 billion fell short of analysts' projections. The data-storage company employs about 1,600 in Research Triangle Park. 
Also: In NetApp CEO's own words: Why he's cutting 12% of workforce

Manganiello to lead cast of military drama filming in Wilmington

February 18, 2016

(StarNews, Wilmington)

A&E Studios' production of Six, which will air on the History channel, will star Joe Manganiello, known for his roles in True Blood and Magic Mike. Production will begin in March in Wilmington. Six is a military drama about the lives of the members of Navy SEAL Team Six.

Huge demand for New Belgium jobs in Asheville

February 18, 2016

(Asheville Citizen-Times)

New Belgium Brewing received about 200 applications for each of the 20 jobs at its Liquid Center tasting room in West Asheville. The brewery now has about 80 employees; a spokeswoman said that number should increase to 140-150 by the end of 2017. When the tasting room opens later this month, the Colorado company will become Buncombe County's 25th craft brewery.

Salisbury manufacturer files for bankruptcy protection

February 18, 2016

(The Salisbury Post)

The parent company of Norandal USA has filed for Chapter 11 bankruptcy protection. The company said demand is still high for its flat-rolled products division that produces aluminum foil and sheeting, including at its Salisbury plant. Norandal employs 150 to 200 workers in Salisbury.

Yadkin Bank sweetens merger deal with special dividend

February 17, 2016

(Winston-Salem Journal)

Yadkin Financial will issue an "extraordinary" dividend of 50 cents for shareholders, who are scheduled to vote next week on the Raleigh bank's $456 million purchase of Greensboro's NewBridge Bancorp. Regulators have approved the merger, which will create a company with $7.1 billion in assets.