Business

Duke Energy begins cleanup of former gas plant property in Kinston

July 23, 2014

(The Free Press, Kinston)

Duke Energy has begun cleaning up the site of a former manufactured-gas plant in Kinston that has been dormant for more than 60 years. The Charlotte-based utility plans to clean 14 such sites, where it used coal to manufacture gas for street lamps before natural gas became available.

Sales of preowned vehicles boost revenue for Charlotte's Sonic Automotive

July 23, 2014

(The Charlotte Observer)

Sonic Automotive Inc. reported revenue of $2.4 billion in the second quarter, led by a 12% increase in sales of preowned vehicles. Net income for the Charlotte-based auto retailer rose to $27 million compared with $8.9 million in the second quarter a year ago. (Read more about Sonic and founder Bruton Smith in our August 2013 cover story).

Herbalife stock soars 25% after Ackman presentation

July 23, 2014

(Winston-Salem Journal)

Following hedge-fund manager Bill Ackman's attempt to expose Herbalife Inc. as a pyramid scheme in a three-hour presentation on Tuesday, investors seemed unfazed by his criticism and the company's stock rose $13.75 to $67.77. 

Greensboro's Natty Greene's expanding despite trademark battle

July 23, 2014

(News & Record, Greensboro)

Natty Greene's is undergoing a third expansion at its Greensboro brewery, and other cities have shown interest in the brand. Meanwhile, the brewer is battling Anheuser-Busch, which filed an opposition to its trademark application over the "Natty" name.

Mountain BizWorks names new executive director

July 23, 2014

(Asheville Citizen-Times)

Patrick Fitzsimmons has been named executive director of Mountain BizWorks. Fitzsimmons was executive director of the Western N.C. region of the American Red Cross from 2004 to 2012. The Asheville-based non-profit organization provides loans to small businesses in Western N.C.

Hatteras Financial reports second quarter loss

July 23, 2014

(Winston-Salem Journal)

Hatteras Financial Corp., a Winston-Salem-based mortgage real estate investment trust, reported a $17.9 million loss for the second quarter. 

Morrisville's Gentris acquired by Cancer Genetics

July 23, 2014

(The News & Observer, Raleigh)

Rutherford, N.J.-based Cancer Genetics completed its $6.25 million acquisition of Gentris Corp. The Morrisville-based company works with pharmaceutical companies to integrate pharmacogenomics into clinical trials. Gentris' 40 employees will keep their jobs.

UNC Health Care poised for rebound in 2015

July 22, 2014

(The Herald-Sun, Durham)

The UNC Health Care board of directors expects the system will post a profit of $104 million for fiscal 2015. The hospital system, which includes eight medical centers, has projected a loss of $12.2 million for fiscal 2014, largely due to its investment in a new electronic health record system.

BB&T's second quarter profits down 22.3%

July 22, 2014

(Winston-Salem Journal)

BB&T Corp. reported net income of $425 million for the second quarter compared with $547 million for the same period a year ago. The 22.3% drop was due to mortgage- and tax-related charges totaling $88 million. 

Ackman says he can prove Herbalife is a pyramid scheme

July 22, 2014

(News & Record, Greensboro)

Hedge-fund manager Bill Ackman will hold a presentation Tuesday that he says will prove Los Angeles-based Herbalife is a fraud. The founder and CEO of Pershing Square Capital Management claims the vitamin company is a pyramid scheme. Herbalife is investing $130 million in a plant in Winston-Salem, where it plans to employ nearly 500 people by the end of 2015.