Business

Coastal Federation to help develop economic-development model for Wilmington area

August 22, 2014

(Greater Wilmington Business Journal)

The N.C. Coastal Federation launched an initiative to establish a model industrial development process for Wilmington and New Hanover County that will help preserve the area's natural resources.

Raleigh apartment complex sells for $50 million

August 22, 2014

(The News & Observer, Raleigh)

Legacy at Wakefield, a 369-unit apartment complex in north Raleigh, sold for $50.5 million to Carter-Haston, a Nashville, Tenn.-based investment and property-management company.

Projections show Fort Bragg population to hold steady through 2020

August 22, 2014

(The Fayetteville Observer)

Department of Defense projections show that Fort Bragg's population of about 57,000 troops would be reduced to about 54,000 in fiscal year 2020, while the number of civilian employees will remain about the same at more than 14,400.

Guilford officials tell Greensboro Partnership not to rush in choosing new CEO

August 22, 2014

(News & Record, Greensboro)

Guilford County commissioners urged the Greensboro Partnership to take its time in hiring a new leader. The economic-development group plans to change its organizational structure following the retirement of former president and CEO Pat Danahy at the end of the year.

Lawmakers' vote may cost Wilmington area Continental Tire plant

August 21, 2014

(StarNews, Wilmington)

The incentives bill that was voted down by state legislators may have cost Brunswick County a Continental Tire plant and more than a thousand jobs. The German tire manufacturer is reported to be looking at a site near the Brunswick-Columbus county line.

BofA settlement announcement expected Thursday

August 21, 2014

(The Charlotte Observer)

The U.S. Justice Department is expected to announce a settlement with Bank of America over faulty mortgage bonds Thursday morning. The settlement is expected to be about $16.6 billion, the largest ever between the government and a company.

Cary-based Ply Gem to acquire Ohio window company for $130M

August 21, 2014

(The News & Observer, Raleigh)

Cary-based Ply Gem Holdings will pay $130 million for Simonton Windows, a Columbus, Ohio-based vinyl window and door manufacturer with annual revenues of more than $300 million. Ply Gem makes vinyl siding, doors and windows and employs more than 6,200 people in North America.

BB&T confirms unspecified number of job cuts

August 21, 2014

(Winston-Salem Journal)

Winston-Salem-based BB&T confirmed Wednesday that it is cutting a small percentage of its workforce, though the company declined to provide the number of affected employees or if any local or state jobs would be eliminated.

Private equity firms vying for Huntersville's ATD

August 21, 2014

(The Charlotte Observer)

American Tire Distributors is for sale, according to a Wall Street Journal report. The Huntersville company, which employs 3,800 and says it is the largest distributor of replacement tires in North America, was bought by private-equity firm TPG Capital for $1.3 billion in 2010. The report says several private equity firms are vying for the company in a deal that could fetch more than $3 billion.

Lawmakers restore funds for Evergreen Packaging

August 21, 2014

(Asheville Citizen-Times)

Hours before adjourning its legislative short session on Wednesday, state lawmakers restored a $12 million incentive for Evergreen Packaging's paper mill in Canton that will help pay for new natural-gas boilers to comply with EPA regulations.