Chimerix receives $13M federal contract

September 15, 2015

(The News & Observer, Raleigh)

Durham-based Chimerix was awarded $13 million to develop a treatment for smallpox. The federal government will stockpile brincidofovir, an antiviral treatment, as a countermeasure against a potential biological attack.

Hickory's CommScope to acquire Massachusetts-based company

September 15, 2015


CommScope will acquire Chelmsford, Mass.-based Airvana, which provides equipment for wireless coverage inside buildings, for an undisclosed amount. The Hickory-based telecommunications company recently completed its $3 billion acquisition of TE Connectivity's telecom, enterprise and wireless businesses.

BB&T cuts jobs at Susquehanna headquarters

September 14, 2015

(The Winston-Salem Journal)

BB&T Corp. cut at least 89 back-office job positions at the former Lititz, Pa., headquarters of Susquehanna Bancshares Inc. BB&T bought Susquehanna in August for $2.5 billion, its largest bank acquisition. Susquehanna employed about 3,500 employees when the deal closed. BB&T employs more than 3,800 in the Triad.

Former Yadkinville hospital workers sue operator

September 14, 2015

(Winston-Salem Journal)

Three former employees of Yadkin Valley Community Hospital are suing its Kansas City-based operator on behalf of 150 workers who lost their jobs when the hospital shut down in May. The three employees, whose titles were not disclosed, said CAH Acquisition violated federal law by failing to provide a 60-day notice of the layoffs as well as benefits including access to COBRA insurance.

Concord gets $6.4M federal grant for new airport terminal

September 14, 2015

(The Independent Tribune, Concord)

Concord was awarded a $6.4 million grant from the Federal Aviation Administration to build a 25,000-square-foot commercial terminal at Concord Regional Airport. The new terminal will help the airport handle a growing number of passengers since low-cost carrier Allegiant Air began offering service in December 2013.

Figure Eight Island boasts largest concentration of high-value homes in Southeastern NC

September 14, 2015

(StarNews, Wilmington)

Figure Eight Island in northeastern New Hanover County has nearly 500 homes valued at $1 million or more, though properties in the gated community are still a value when compared with other parts of the country, according to a local broker. The most valuable property on the 1,300-acre island is a $6.3 million home owned by John Mack, former CEO of Morgan Stanley.

Victims of Ponzi scheme sue CommunityOne Bank

September 14, 2015

(The Charlotte Observer)

About 30 investors in the Black Diamond Ponzi scheme are suing CommunityOne Bank. The U.S. government said the bank, whose parent company is based in Charlotte, failed to report the $40 million scheme after the bank's computer software detected suspicious activity on mastermind Keith Simmons' account.
Related: "Money for nothing," August 2012

Greensboro continues investigation of former PTP chief executive

September 14, 2015

(News & Record, Greensboro)

The Greensboro Police Department is continuing its investigation of former Piedmont Triad Partnership CEO David Powell. The economic-development group reported in May financial irregularities involving Powell, who resigned in January. Howard Neumann, an assistant district attorney for Guilford County, said the investigation is "complex and time-consuming." The IRS is also auditing documents related to the case.

Guilford mulls incentives for Qorvo expansion

September 11, 2015

(High Point Enterprise)

Greensboro-based semiconductor company Qorvo would invest $25 million and create 100 new jobs through 2018 at its site in western Greensboro. The new jobs would pay an average annual salary of $80,000. Guilford County is considering an incentives request of up to $333,750 for the expansion.

Duke Energy to pay $5.4 million to settle federal lawsuit

September 11, 2015

(The News & Observer, Raleigh)

Charlotte-based Duke Energy agreed to spend $5.4 million to settle a federal lawsuit filed against the company in 2000. The Environmental Protection Agency said Duke illegally modified five power plants, which increased emissions.