Business

Fayetteville's Methodist University close to fundraising goal

March 20, 2015

(The Fayetteville Observer)

Methodist University in Fayetteville has raised more than $33 towards its $35 million fundraising campaign goal. The university will use the funds for improvements to athletic facilities, a new health-sciences building, a concert hall and other projects. The capital campaign runs through 2016.

Catawba Brewing to open 2nd Asheville tasting room

March 20, 2015

(Asheville Citizen-Times)

Asheville's 19th brewery is set to open by the end of March. Catawba Brewing will open its second Asheville location in the South Slope district on March 30; the Morganton-based beer-maker already has a tasting room in Biltmore Village. 

Buncombe County buys industrial site for $6.8M

March 19, 2015

(Asheville Citizen-Times)

Buncombe County will spend $6.8 million to purchase a 137-acre site it hopes will lure an unnamed economic-development prospect. David Gantt, chairman of the board of commissioners, compared the scope of the project to "Project X," which refers to GE Aviation's local expansion which spurred competition among at least 12 states in 2013.

Former Salix executives to get $46M after Valeant sale

March 19, 2015

(The News & Observer, Raleigh)

The former top executives of Raleigh-based Salix Pharmaceuticals will receive $46 million after the company is sold to Canada-based Valeant Pharmeceuticals. Adam Derbyshire, who resigned as CFO in November, will get $13.3 million in stock and options while former CEO Carolyn Logan will walk away with $32.7 million in stock.

SEC denies Bank of America's bid to block shareholder proposal

March 19, 2015

(The Charlotte Observer)

Bank of America must include on its upcoming proxy a shareholder proposal that suggests the bank explore ways to split itself into two or more companies. The Securities and Exchange Commission ruling means shareholders will vote on the proposal at the Charlotte-based bank's annual meeting in April.

Councill Furniture closing Denton plants

March 19, 2015

(News & Record, Greensboro)

Councill Furniture will close its Davidson County plants, where the company employs about 125 people, at the end of June. The company was recently sold to RHF Investments, and the Denton factories were not included in the transaction.

 

Vertex Rail CEO talks future expansion

March 19, 2015

(Greater Wilmington Business Journal)

Vertex Rail CEO Don Croteau said it's possible the company eventually could double the size of its Wilmington plant. The rail-car manufacturer announced plans in November to create 1,300 jobs at the former Terex crane facility; an expansion could add another 1,000 workers.

Ritz Carlton issues second apology over CIAA surcharge

March 19, 2015

(The Charlotte Observer)

The Ritz-Carlton hotel in downtown Charlotte apologized again for adding a 15% surcharge to customer bills during the CIAA basketball tournament held last month. The hotel said Wednesday all of the gratuity was paid to the servers who worked during the event. N.C. Attorney General Roy Cooper's office is investigating whether the hotel violated fair trade practices.

Morrisville gem-maker names Beasley CEO

March 19, 2015

(The News & Observer, Raleigh)

Gemstone manufacturer Charles & Colvard named Marvin Beasley CEO. He replaces Randy McCullough, who announced his retirement this week. Beasley, 71, was CEO of Helzberg Diamonds from 2004 through 2009 and has been a director at Charles & Colvard for the last five years. The Morrisville-based company reported a net loss of $13.1 million for 2014.

NC unemployment rate stays at 5.4% in January

March 18, 2015

(The News & Observer, Raleigh)

The state unemployment rate held steady at 5.4% in January, according to data released Tuesday by the N.C. Department of Commerce. The national average was 5.7%. The state added jobs in leisure, manufacturing and construction while the number of jobs in trade, transportation and utilities fell. North Carolina's jobless rate was 6.6% a year ago.