Business

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.

Wilmington construction materials company bought by Colo.-based firm

February 17, 2016

(Greater Wilmington Business Journal)

Wilmington-based American Materials Co. was acquired by Summit Materials for an undisclosed amount. Summit is a publicly traded construction materials company based in Denver with operations in 17 states. AMC has five gravel and rock processing plants in the Carolinas.

Crescent Communities adds homebuilding arm

February 17, 2016

(The Charlotte Observer)

Charlotte developer Crescent Communities is launching Fielding Homes, a new division that will build single-family homes. The company will build 64 homes in a Fort Mill, S.C., subdivision.

Wilmington to study moving rail lines out of city

February 17, 2016

(StarNews, Wilmington)

A Wilmington task force will spend $300,000 on a study that will look at moving rail traffic out of the heart of the city, where tracks cross local streets 32 times, creating traffic and safety concerns. A realignment could provide a more direct path to the Port of Wilmington, while some existing tracks could be used for a trolley service, city councilwoman Laura Padgett said.

Piedmont Triad Partnership touts big opportunities for region

February 17, 2016

(News & Record, Greensboro)

The Piedmont Triad Partnership CEO Stan Kelly said Tuesday that locations such as Whitaker Park in Winston-Salem, Piedmont Triad International Airport and two megasites could attract big employers to the Triad and have the potential to transform the region's economy.

Mooresville's Blueharbor Bank expands to Charlotte

February 17, 2016

(The Charlotte Observer)

Blueharbor Bank, an 8-year-old community bank based in Mooresville, has opened a loan-production office in Charlotte's SouthPark neighborhood. CEO Jim Marshall said the bank could open a full-service branch there in a year or two.

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.