Business

New pipeline route proposed in Cumberland County

March 8, 2016

(The Fayetteville Observer)

A new proposed route for the Atlantic Coast Pipeline would run along a Duke Energy transmission line in Cumberland County, a less-congested area that includes about 95 properties. The original route would have affected 175 landowners.

'Woz' named Innovator in Residence at HPU

March 8, 2016

(The News & Observer, Raleigh)

Apple co-founder Steve Wozniak was named Innovator in Residence at High Point University. "Woz" will visit HPU's campus each year and will offer advice to students digitally.

First Bank to swap branches with Virginia bank

March 7, 2016

(The Pilot, Southern Pines)

First Bancorp, the Southern Pines-based parent company of First Bank, will exchange seven branches in Virginia for six First Community Bank branches in Winston-Salem and the Charlotte metro area. First Community is based in Bluefield, Va. The exchange will allow both banks to "achieve further concentration" of operations in their core markets, First Bank CEO Richard Moore says.

Durham's Hatteras Ventures to manage UNC startup fund

March 7, 2016

(WRAL TechWire)

Hatteras Ventures will invest up to $10 million in startups hatched at UNC Chapel Hill; also, the Durham-based venture-capital firm will manage the school's Carolina Research Ventures investment fund. Hatteras invests in early-stage life sciences companies and has about $350 million under management.

Tarwater reflects on 35 years at Carolinas HealthCare System

March 7, 2016

(The Charlotte Observer)

Michael Tarwater, who is retiring in June as CEO of Carolinas HealthCare System, talks about the evolution of the former Charlotte Memorial Hospital into a 40-hospital system with $8 billion in revenue, hospital consolidation and more.

Raleigh's Rex Hospital in growth mode

March 7, 2016

(The News & Observer, Raleigh)

The $235 million Heart & Vascular Hospital, expected to open next year, is the latest sign of UNC Rex Healthcare's evolution from a community hospital to a major regional medical center. Once the new heart center opens in 2017, an extensive renovation of the original hospital will begin. President Steve Burriss said the health care system also owns 20 acres in northwestern Raleigh for future expansion.

Reynolds CEO earns 52% more in 2015

March 7, 2016

(Winston-Salem Journal)

Susan Cameron earned a salary of $1.38 million in 2015, up 52.4% from the previous year when she only worked for seven months, according to a preliminary proxy filing last week. The Reynolds American CEO returned in May 2014 to oversee the cigarette company's acquisition of Greensboro-based Lorillard. Cameron's total compensation in the year before she retired in February 2011 was $23.8 million.

BofA workforce nears 2008 levels

March 7, 2016

(The Charlotte Observer)

Charlotte-based Bank of America had 213,000 employees at the end of 2015, just 6,000 more than in June 2008. Since CEO Brian Moynihan took over in 2010, the bank has cut about one-quarter of its workforce, and Moynihan has said the bank will continue trimming its workforce in an effort to improve profitability. Despite the global cuts, Charlotte's local workforce has held steady at about 15,000 over the last decade.

NC environmental agency cites Duke Energy for coal-ash violations

March 7, 2016

(WRAL.com)

The state Department of Environmental Quality cited Duke Energy for wastewater violations at 12 power plants. Duke has 30 days to respond to the notice of violations, which could result in fines. Duke said in a statement the seeps are not affecting water quality and that the company is actively working toward closing the ash basins.

Charlotte apartment complex sells for $51.9M

March 4, 2016

(The Charlotte Observer)

Chicago-based Waterton has acquired Addison Park, a 426-unit apartment community in north Charlotte, for $51.9 million. The seller was Heitman, also based in Chicago, which paid $33 million for the apartments in 2010. Waterton plans to renovate interiors and common areas.