Business

Board fires St. Augustine's president

April 9, 2014

(The News & Observer, Raleigh)

The Board of Trustees of St. Augustine's University in Raleigh has removed President Dianne Boardley Suber, who led the school for 14 years, and reinstated the school's provost and vice president of finance, both recently ousted by Suber. St. Augustine's is undergoing a review by the Southern Association of Colleges and Schools due to financial concerns.

Lender takes ownership of Carolina Trail golf courses

April 9, 2014

(The Charlotte Observer)

Toronto-based lender Romspen is the new owner of four Charlotte-area golf courses that were part of the Carolina Trail group after foreclosing on them. Romspen said it plans to make improvements and reopen the courses, which include Birkdale, Highland Creek, The Divide and The Tradition.

Lower tuition leads to staffing cuts at Belmont Abbey

April 9, 2014

(The Gaston Gazette)

Belmont Abbey College cut 16 administrative positions this week as a result of its new operating model that reduced annual tuition 33% last year to just more than $9,000. 

Solar farm proposed for Rowan County

April 9, 2014

(The Salisbury Post)

Cornelius-based O2 Energies has proposed a 4.25-megawatt solar farm for Rowan County. The four-month construction project would employ about 50 workers. 

Charlotte City Council names Clodfelter Charlotte's new mayor

April 8, 2014

(The Charlotte Observer)

N.C. Sen. Dan Clodfelter will become Charlotte's next mayor, replacing Patrick Cannon who resigned two weeks ago after his arrest on federal corruption charges. The former city council member will resign from the state General Assembly, where he has served since 1999, today and will be sworn in as mayor on Wednesday. 

APAC could hire as many as 850 in High Point

April 8, 2014

(The News & Record, Greensboro)

APAC Customer Services, which just announced plans last Friday to hire 500 workers by July, said it expects to hire an additional 350 workers at its High Point call center by fall. Site Director Steve Cathers said the company is talking with other partners that could bring new jobs to the center.

NewBridge Bank reports $18.9M profit; CEO pay reaches $1M in 2013

April 8, 2014

(The Winston-Salem Journal)

The chief executive of Greensboro-based NewBridge Bancorp received more than $1 million in compensation during fiscal 2013, including bonuses totaling $231,778. It was the first year since 2008 that the bank issued executive bonuses. NewBridge reported net income of $18.9 million for the year, compared with a loss of $28.2 million in 2012.

General Assembly refutes film study, says incentives cost state $33 million

April 8, 2014

(StarNews, Wilmington)

A review of a film-incentive study released last week questions its conclusions and claims North Carolina lost $33.1 million in local and state tax revenue in 2012 due to the incentives. The state General Assembly's Fiscal Research Division re-evaluated the study performed by an N.C. State professor, and its findings dispute the study's claim the state made a profit of $25.4 million from tax revenue.

Early attendance is up at High Point Market

April 8, 2014

(Time Warner Cable News)

High Point Market Authority President Tom Conley said some exhibitors at this week's biannual event say they've had the highest attendance in five or six years. Of the more than 2,000 vendors at the furniture show, one in ten is new to the market this year. 

Bank of Carolinas wants to increase number of shares

April 8, 2014

(The Winston-Salem Journal)

The board of Mocksville-based Bank of the Carolinas is seeking shareholder permission to increase its number of outstanding shares from 15 million to 580 million. UNC Charlotte finance professor Tony Plath says the move could be a part of strategy to avoid an unwelcome acquisition.