Business

Monroe paving company pleads guilty in fraud case

September 15, 2014

(The Charlotte Observer)

Monroe-based Boggs Paving pleaded guilty to conspiracy to defraud the federal government. CEO Drew Boggs and four company executives have already pleaded guilty in the scheme, in which they exaggerated the role of a minority subcontractor to bilk the government out of $87 million in contracts.

Fayetteville may link chicken-plant incentives to local hiring

September 12, 2014

(The Fayetteville Observer)

Fayetteville City Council may require Sanderson Farms to hire mostly Cumberland County contractors to build its proposed $113 million chicken plant in order for the Mississippi-based company to receive local incentives. The city could also require the poultry producer to hire county residents to fill the majority of its 1,000 jobs.

Developer proposes $60 million project in midtown Charlotte

September 12, 2014

(The Charlotte Observer)

A local developer wants a 1.7-acre parcel in midtown Charlotte rezoned for a $60 million mixed-use project. Baxter Place, across the street from Charlotte's Metropolitan development, would include an eight-story building with a hotel, offices and retail space. Goode Properties' project plan is 40 feet higher than the location's current height restrictions.

Film industry awaits guidelines for new grant program

September 12, 2014

(StarNews, Wilmington)

Film productions are still waiting to learn how to apply for the state's new grant program, which will go into effect in 2015. Johnny Griffin, director of the Wilmington Regional Film Commission, says television and film projects planning to film in early 2015 will begin searching for locations by early October.

GKN Driveline breaks ground on $100 million plant expansion

September 12, 2014

(The Charlotte Observer)

GKN Driveline broke ground on a previously announced expansion at its Catawba County plant. The company, which makes automotive components including all-wheel-drive systems and transmissions, plans to hire 228 workers by 2018. 

Florida court throws out hundreds of tobacco lawsuits

September 12, 2014

(Winston-Salem Journal)

A Florida appeals court has thrown out 750 Engle lawsuits against U.S. tobacco companies, nearly 10% of the the 8,000 cases pending in Florida courts. The Engle cases originated from a 2006 class-action lawsuit that was decertified, allowing for class members to file individual lawsuits for cigarette-related illnesses.

Red Hat exec left for job at Google

September 12, 2014

(The News & Observer, Raleigh)

A former Red Hat executive is now vice president of cloud platforms at Google. Brian Stevens, who served as the Raleigh-based software company's chief technology officer for nearly nine years, resigned as of Sept. 5.

Paulson could determine fate of Family Dollar

September 12, 2014

(The Charlotte Observer)

Paulson & Co., Family Dollar's third-largest shareholder, also holds about 4 million shares of Dollar General. The hedge fund was founded by billionaire John Paulson, who has yet to take a stance in the bidding war over Matthews-based Family Dollar Stores.

Childress Klein buys Cary office building for $12.5 million

September 12, 2014

(The News & Observer, Raleigh)

Charlotte-based Childress Klein Properties paid $12.5 million for a Cary office building. The 93,351-square-foot building was owned by Arcon Group, the real-estate arm of Goldman Sachs.

Buncombe likely to provide incentives for Wicked Weed expansion

September 12, 2014

(Asheville Citizen-Times)

Buncombe County commissioners will vote Tuesday on giving almost $75,000 in incentives to Wicked Weed Brewing for its previously announced expansion. The beer company will invest at least $6.5 million and add 75 jobs over four years as part of the agreement.