Business

Bonus checks for banking executives higher than last year

February 25, 2014

(The Charlotte Observer)

Annual bonuses in the financial industry are up 5% to 10% over last year, yet they are still below the levels they reached before the financial crisis. 

Ed Mitchell and son to open barbecue restaurant in Durham

February 25, 2014

(The News & Observer, Raleigh)

Famous barbecue pitmaster Ed Mitchell and his son Ryan, an investment banker, will open Que, a barbecue restaurant, at the American Tobacco Campus near the Durham Bulls Athletic Park. The owners hope to open Que around April 1, in time for the Bulls' season opener on April 3.

Consultant says Chatham Park plan needs more detail

February 25, 2014

(The News & Observer, Raleigh)

An outside consultant hired to review Preston Development Co.'s plan for the massive Chatham Park development in Pittsboro says the plan fails to provide enough details and lacks a coherent vision. If built, Chatham Park could bring an estimated 60,000 people to live there.

Oak Island puts moratorium on building giant beach houses

February 25, 2014

(The Times-News, Burlington)

The Brunswick County beach town of Oak Island has placed a three-month ban on building homes with more than six bedrooms after some residents complained about a property owner's request to build a 15-bedroom, 12-bath home. The town council hopes to have new regulations in place by mid-April.

Unnamed company to invest $500 million in Kings Mountain project

February 24, 2014

(The Charlotte Observer)

Leaders of Kings Mountain are planning a major economic development announcement Monday evening. Mayor Rick Murphrey said an unnamed company plans an investment of $500 million and will bring 250 to 300 temporary construction jobs and 25 to 30 permanent jobs to southeastern Cleveland County.

NC crop sales rise despite shrinking farmland

February 24, 2014

(Asheville Citizen-Times)

Crop sales in North Carolina increased 65% from 2007 to 2012 while the amount of farmland decreased by 62,560 acres, according to preliminary findings from the U.S. Department of Agriculture's 2012 Census of Agriculture. 

Charlotte gets ready for CIAA; tournament may move next year

February 24, 2014

(The Charlotte Observer)

Charlotte is preparing for the annual CIAA basketball tournament, which produces an estimated $40 million economic impact, but its contract with the organization ends this year and tournament officials have yet to say whether or not it will return to Charlotte next year. The tournament begins Tuesday and runs through Sunday.

Strata Solar building more solar farms in Eastern NC

February 24, 2014

(The Free Press, Kinston)

Chapel Hill-based Strata Solar will build two more solar farms in Lenoir County and one in Greene County. The solar-energy company completed two farms in Lenoir County in July, which combined power about 1,500 area homes and buildings.

Wake Forest researcher estimates damage of coal-ash spill is $70 million

February 24, 2014

(The News & Record, Greensboro)

A Wake Forest University professor with experience in coal-pollution research estimates the damage of Duke Energy's coal-ash spill in the Dan River is at least $70 million. Factors in the estimate include loss of a healthy ecosystem, lost revenue through fewer people participating in outdoor activities and lower property values in the area due to the stigma of environmental pollution.

Charlotte's PassportParking to allow use of Bitcoin at parking meters

February 24, 2014

(The Charlotte Observer)

PassportParking Inc., a cloud-based parking management company based in Charlotte, says its customers will begin accepting Bitcoin digital currency for payment at meters and in parking lots. Passport's clients include the cities of Chicago and Detroit and Asheville's Parks and Recreation Department.