Business

Hilton to build hotel in Charlotte's First Ward

October 16, 2014

(The Charlotte Observer)

Hilton Hotels announced plans to build a hotel in uptown Charlotte's First Ward on land owned by Charlotte developer Levine Properties. Construction could begin in 2016 on a new lifestyle hotel brand called Canopy by Hilton.

Cannon sentenced to 44 months in prison

October 15, 2014

(The Charlotte Observer)

A federal judge sentenced former Charlotte Mayor Patrick Cannon to 44 months in prison on public corruption charges. Cannon pleaded guilty in June to accepting more than $50,000 in bribes from undercover FBI agents posing as developers and from a local businessman. 

Novant lays off 59 at Louisburg hospital

October 15, 2014

(The News & Observer, Raleigh)

Novant Health will lay off 59 employees and reduce the number of inpatient beds from 70 to 2 at its Franklin Medical Center in Louisburg. The Winston-Salem-based health system cited declining patient volumes and lower reimbursements from insurers as reasons for the cuts.

Siemens to acquire Charlotte software company

October 15, 2014

(The Charlotte Observer)

Munich-based engineering company Siemens AG will acquire Charlotte-based Camstar Systems, an industrial software provider with 250 global employees, including about 100 in Charlotte. Financial terms were not disclosed. The deal is expected to close in late November.

Butterball might be interested in House of Raeford plant

October 15, 2014

(The Fayetteville Observer)

A local economic-development official says at least "a couple" of businesses have expressed interest in buying the Hoke County turkey plant House of Raeford plans to close within the next two months. Garner-based Butterball, which owns a turkey hatchery nearby, could be one of them.

Interest declines for Wilmington film industry

October 15, 2014

(StarNews, Wilmington)

Following legislative changes that reduced incentives for the state's film industry, production inquiries are down from 15 to 20 per month to about six or seven, according to the director of the Wilmington Regional Film Commission. "People just aren't as interested now," Johnny Griffin said at a quarterly commission meeting Tuesday.

Wake Forest-based PowerSecure acquires Florida data center

October 15, 2014

(WRAL TechWire)

Wake Forest-based PowerSecure International bought a data center owned by St. Petersburg, Fla.-based Power Design in a deal worth up to $15 million. Wake Forest-based PowerSecure provides energy  services to electric utilities and their commercial and industrial customers.

High Point-based Stanley Furniture reports 3Q loss

October 15, 2014

(Winston-Salem Journal)

Sales were down 4.9% in the third quarter for Stanley Furniture, partly due to the discontinuation of its Young America bedroom line (Statewide, May). The High Point-based manufacturer reported a loss of $2.26 million compared with a loss of $2.47 million a year ago.

Wells Fargo posts higher profits in third quarter

October 15, 2014

(Winston-Salem Journal)

San Francisco-based Wells Fargo reported $5.7 billion in profits in the third quarter, up 3% compared with the same period a year ago. 

Technimark may bring 224 jobs to Asheboro

October 14, 2014

(News & Record, Greensboro)

Plastics manufacturer Technimark is considering a $46 million expansion that would add 224 jobs to its existing 981 in Randolph County. The county and the city of Asheboro approved $1 million in incentives last week for the locally-based company to build a new factory.