Business

Fayetteville's Methodist University receives $1 million gift

April 17, 2014

(The Fayetteville Observer)

Methodist University received a $1 million gift to support three projects including a Judaic studies endowment and a lobby and gallery in the Reeves Fine Art Building. The school has raised $25 million towards a $35 million goal in the largest fundraising initiative in its history.

Isaiah Washington leads cast of 'The Sin Seer' in Wilmington

April 17, 2014

(StarNews, Wilmington)

Isaiah Washington and Lisa Arrindell Anderson will star in The Sin Seer, an upcoming film about a woman who can see sin in people's souls. The film will begin production April 28 in Wilmington.

Greensboro's Forest Oaks club to reopen with new management

April 17, 2014

(The News & Record, Greensboro)

Forest Oaks Country Club in Greensboro will reopen under new management Thursday. The private club was closed on Tuesday after management company ES2 Sports & Leisure declared bankruptcy. A majority shareholder has enlisted a Florida-based company to manage the club.

UNC study: Immigrants have positive impact on NC economy

April 16, 2014

(The News & Observer, Raleigh)

A UNC Chapel Hill study commissioned by the N.C. Bankers Association shows that about 750,000 immigrants living in North Carolina contribute $23,371 to the state's economy on a per capita basis. The study added up consumer dollars immigrants spend and taxes they pay and subtracted public services they consume to come up with an estimated "net benefit."

Bank of America reports first quarter loss

April 16, 2014

(The Charlotte Observer)

Bank of America reported a first-quarter loss of $276 million compared with a profit of $1.5 billion for the same period a year ago. CEO Brian Moynihan said the costs of resolving mortgage-related issues, including last month's $9.5 billion settlement with the Federal Housing Authority, hurt the Charlotte-based bank's earnings.

Wilmington's Live Oak Bank to go public

April 16, 2014

(Greater Wilmington Business Journal)

In an SEC filing, Wilmington-based Live Oak Bank announced plans to go public though no share price was given. The statement says the bank, which began as a small-business lender, will use proceeds from the public offering to pay off about $8 million in debt and support expansion.

RF Micro, TriQuint reveal consolidation plans

April 16, 2014

(Winston-Salem Journal)

The new company formed when Greensboro-based RF Micro Devices acquires Hillsboro, Ore.-based TriQuint Semiconductor will be called Rocky Holding Inc., and the two companies will operate as subsidiaries with dual headquarters. RF Micro CEO Robert Bruggeworth will serve as president and chief executive. Pending shareholder and regulatory approval, the $1.56 billion deal is expected to close in the second half of the year.

Final public hearing on major Chatham County development scheduled for May 12

April 16, 2014

(The News & Observer, Raleigh)

A final public hearing will be held May 12 before the town of Pittsboro votes on whether or not to approve plans for the massive Chatham Park development proposed by Preston Development Co. (Regional Report, October 2013)

Hanes plant in Winston-Salem being demolished; mixed-use project to take its place

April 16, 2014

(Winston Salem-Journal)

Demolition is nearly complete on the 550,000-square-foot Winston-Salem Hanes plant that has been shuttered since 2007. The 26.5-acre tract will become Hanestowne Village, a mixed-use development that will include restaurants, retail and medical offices (Regional Report, January 2014). The first phase of the new project is expected to be complete by year-end. 

PR firm Capstrat cuts jobs at Raleigh office

April 16, 2014

(The News & Observer, Raleigh)

Capstrat confirmed it laid off some employees this week at its Raleigh office to adjust to its current volume of business, though the communications company did not provide specific details. Capstrat is owned by Ketchum, an Omnicon Group company, and provides advertising and public relations services for clients including Blue Cross and Blue Shield of North Carolina, Duke Energy and Quintiles.