Business

Citrix to spin off GoTo products into separate company

November 18, 2015

(WRAL TechWire)

Citrix Systems will spin off its GoTo line of business-software products into a separate, publicly traded company in the second half of 2016. Based in Fort Lauderdale, Fla., Citrix employs more than 600 people in downtown Raleigh. Impact on the Raleigh office is unclear.
Related: Hire purpose: Citrix Systems' downtown Raleigh digs were designed to attract top tech talent

Wells Fargo moving 350 workers from Charlotte to Rock Hill, SC

November 18, 2015

(The Charlotte Observer)

Wells Fargo will move about 350 employees in its mortgage-servicing unit from downtown Charlotte to Fort Mill, S.C. No layoffs are expected.

Lowe's reports strong 3Q results

November 18, 2015

(The News & Observer, Raleigh)

Home-improvement retailer Lowe's reported third-quarter results that beat analysts' estimates. As the housing market continued to improve, revenue increased to $14.36 billion, compared with $13.68 billion a year ago. The Mooresville-based company earned $736 million compared with $585 million a year ago.

Jeld-Wen names new CEO

November 18, 2015

(The Charlotte Observer)

Jeld-Wen, the Charlotte-based window and door manufacturer, named Mark Beck president and CEO effective Nov. 30. He replaces Kirk Hachigian, who will stay on as executive chairman. Beck worked for Corning for 18 years and most recently was an executive vice president at Danaher Corp. The Wall Street Journal reported in August that Jeld-Wen is planning for a possible IPO.

Wake Forest Baptist revenue increases 10.4% in first quarter

November 18, 2015

(Winston-Salem Journal)

The Winston-Salem-based medical center reported revenue of $567.2 million in the first quarter, compared with $513.5 million for the same period in the previous year.

Frontier adding 200 jobs in Durham

November 17, 2015

(The News & Observer, Raleigh)

Norwalk, Conn.-based Frontier Communications will invest $4.3 million and create 200 jobs over the next five years at a new technical support center in Durham. The telecommunications company also considered Florida, Texas, Utah and South Carolina for the jobs, which will pay an average annual salary of $47,112.

Hundreds turn out for hearing on I-26 Connector in Asheville

November 17, 2015

(Asheville Citizen-Times)

Most local residents who spoke at a public hearing Monday said the state Department of Transportation's preliminary plan for widening Interstate 240 in West Asheville was too big. About 400 people met to discuss the project, which has been under discussion since the late 1980s. Estimated project costs range from $591.7 million to $785.4 million.

BNC Bancorp buying High Point Bank

November 17, 2015

(News & Record, Greensboro)

BNC Bancorp, parent of Bank of North Carolina, is buying the holding company for High Point Bank for about $141.3 million. High Point bank has 12 branches. High Point-based BNC, which now has 64 offices in the Carolinas and Virginia, will have about $6.8 billion in assets when the deal closes, expected to be in the second quarter of 2016.

Wilmington shopping center sells for $56.3 million

November 17, 2015

(Greater Wilmington Business Journal)

CBL & Associates Properties will sell Mayfaire Community Center, a 210,000-square-foot shopping center anchored by a Harris Teeter grocery store, to Principal Real Estate Investors for $56.3 million. Tennessee-based CBL paid $192 million in June for the center and the larger Mayfaire Town Center.

BofA scores low in customer satisfaction

November 17, 2015

(The Charlotte Observer)

For the fifth year in a row, Charlotte-based Bank of America placed last among the four biggest U.S. banks on an annual survey conducted by the American Customer Satisfaction Index. Among the largest banks, Wells Fargo received 75 out of 100 possible points, followed by Citibank (73), Chase (71) and Bank of America (68).
Also: BB&T, Wells Fargo have above average customer satisfaction scores