Business

GE adding 60 jobs at Mebane plant

July 22, 2014

(The News & Observer, Raleigh)

GE Industrial Solutions will add a new production line and create 60 new jobs by the end of 2015 at its Mebane plant, where it employs more than 500. Fairfield, Conn.-based General Electric employs more than 4,850 across North Carolina.

BBB releases list of Charlotte companies with most complaints

July 22, 2014

(The Charlotte Observer)

The Better Business Bureau has released its annual "Dirty Half-Dozen" list of businesses in the Charlotte area that received the most unanswered consumer complaints during the first half of 2014.

Will anyone save Fayetteville's Prince Charles Hotel?

July 22, 2014

(The Fayetteville Observer)

A canceled auction for the historic Prince Charles Hotel in Fayetteville has downtown advocates speculating about plans for the property.

Punitive damages likely to be reduced in RJ Reynolds case

July 22, 2014

(Winston-Salem Journal)

The $23.6 billion in punitive damages awarded by a Florida jury last week is likely to be reduced or overturned, according to industry analysts. A spokesman for R.J. Reynolds Tobacco Co. has said it will appeal the ruling.

Zoning amendment makes it easier for Charlotte breweries to expand

July 22, 2014

(The Charlotte Observer)

The Charlotte City Council voted to change zoning regulations to reduce the required distance between residential areas and bars, restaurants and nightclubs from 400 feet to 100 feet. The change gives breweries in neighborhoods such as Charlotte's NoDa more expansion opportunities.

RJ Reynolds to fight $23.6 billion verdict

July 21, 2014

(The News & Observer, Raleigh)

R.J. Reynolds Tobacco Co. says it will appeal a verdict in a lawsuit that would require it to pay $23.6 billion in punitive damages to the widow of a smoker who died of lung cancer in 1996. A Florida jury awarded the damages on Friday, a day after Cynthia Robinson was awarded $16.8 million in compensatory damages.

Google Fiber team studying Charlotte proposal

July 21, 2014

(The Charlotte Observer)

Google is reviewing Charlotte's plan to bring its high-speed Google Fiber network to the city. Representatives from the Mountain View, Calif.-based tech company have been surveying land and have met with city planners to discuss permits. Google will announce by year-end whether it will build the network in Charlotte.

Bank of the Carolinas adopts poison pill to avoid hostile takeover

July 21, 2014

(Winston-Salem Journal)

Mocksville-based Bank of the Carolinas will adopt a poison pill strategy to prevent an unwanted takeover. The bank announced last week it had raised $45.8 million in private-equity funding.

Reactions mixed over proposed Cumberland County chicken plant

July 21, 2014

(The Fayetteville Observer)

Local opinions are split over a proposed Sanderson Farms chicken plant that would create more than 1,000 jobs in Cumberland County. While the jobs would significantly lower the county's unemployment rate, critics are concerned over potential effects on groundwater and the smell the plant would generate.

NewBridge establishes middle-market banking team in Charlotte

July 21, 2014

(The Charlotte Observer)

Greensboro-based NewBridge Bank has created a banking group in Charlotte to serve companies with annual revenue between $25 million and $250 million.  The six-person team will be led by Michael McMahan, a former Bank of America executive. The bank plans to expand the team in the Triad and Triangle areas.