Business

BB&T slashes 241 jobs in Pennsylvania

May 18, 2016

(Winston-Salem Journal)

BB&T will cut about 15% of the workforce of National Penn Bancshares, the Pennsylvania-based bank it acquired last month in a $1.8 billion deal. BB&T confirmed earlier this week it was closing 28 branches in Pennsylvania, leaving it with 329 in the state. The Winston-Salem-based bank has $15.2 billion in deposits in Pennsylvania, trailing only PNC Financial, Wells Fargo and Citizens Bank.

Spellings, Ross share stage at Greensboro fundraiser

May 17, 2016

(News & Record, Greensboro)

UNC System President Margaret Spellings and her predecessor, Tom Ross, talked about HB2, rising tuition costs and faculty salaries at a fundraiser for Preservation Greensboro on Monday. Spellings said HB2 has distracted attention from the important work being done at the 17-campus system and possibly damaged its reputation. Spellings also spoke about the importance of raising faculty and staff pay to avoid "poaching" by other states.
Related: Tom Ross takes new job leading Paul Volcker's nonprofit in New York

Canton paper mill a mainstay in Western NC

May 17, 2016

(Smoky Mountain News)

Demand for coated paper coffee cups — and a shift away from Styrofoam by retailers including McDonald's and Dunkin' Donuts — has been a boon for Evergreen Packaging in Haywood County, which employs about 900 people. The paper mill's future seemed uncertain a year ago when rumors circulated that the mill was for sale; then the company's New Zealand-based parent, Rank Group Limited, decided to keep it.

Delta plant closing won't impact Fayetteville operations

May 17, 2016

(The Fayetteville Observer)

The CEO of Greenville, S.C.-based Delta Apparel says the closing of Maiden textile plant will have little impact on the company's Fayetteville operations. Delta employs about 500 people in Fayetteville, including sewing and screen-printing operations for M.J. Soffe and a distribution center for beach lifestyle brand Salt Life. Both brands are owned by Delta.

Charlotte's Goodmortgage.com bought by Va. company

May 16, 2016

(The Charlotte Observer)

First Guaranty Mortgage Corp. of Virginia will acquire Charlotte's Goodmortgage.com, an Internet-based lender founded in 1999. No layoffs are planned at the Charlotte office, which will operate as a separate division of First Guaranty.

BB&T closing 28 branches in Pennsylvania

May 17, 2016

(Winston-Salem Journal)

After completing two major purchases giving it more than 350 branches in the Keystone State, BB&T said Monday it will close 28 branches, 7.8% of it presence, in Pennsylvania. A spokesman for the Winston-Salem-based bank said no job losses are expected.

Morrisville's MaxPoint posts 15% increase in Q1 revenue

May 17, 2016

(The News & Observer, Raleigh)

MaxPoint Interactive increased its guidance for the year and reported first-quarter adjusted revenue of $19.4 million, up 15% from a year ago. Adjusted net loss was $1.48 per share; analysts had projected a loss of $1.51 per share. In late April, the digital marketing company completed a reverse stock split and this month moved its listing to the Nasdaq from the NYSE.

Tom Ross takes new job leading Paul Volcker's nonprofit in New York

May 17, 2016

Former UNC System President Tom Ross has a new job running the Volcker Alliance, a nonprofit that wants to improve the government's performance and restore confidence in public institutions.

Vertex Railcar lays off 61 workers in Wilmington

May 16, 2016

(Greater Wilmington Business Journal)

Amid reduced demand for the sand hopper cars produced at its Wilmington plant, Vertex Railcar laid off 61 workers on Friday. A company spokesman says Vertex is shifting its focus to producing other types of railcars such as aggregate and foodservice hoppers and food-grade tank cars. The company announced in 2014 it would eventually hire more than 1,300 people at the 559,000-square-foot plant near Port of Wilmington. After the layoffs, Vertex has 221 employees.

Moogfest merges art and technology in 4-day festival

May 16, 2016

(WRAL TechWire)

Moogfest, the music and technology conference inspired by synthesizer inventor Robert Moog, kicks off in Durham on Thursday after being held for more than a decade in Asheville. Speakers include Martine Rothblatt, creator of Sirius satellite radio and CEO of United Therapeutics. Click here for the the full lineup of musicians and speakers.