Business

Wilmington may raises taxes, cut jobs to offset $2.3 million budget shortfall

April 16, 2014

(StarNews, Wilmington)

Wilmington may raise its property tax rate by two cents per $100 of value or cut up to 34 jobs to narrow a $2.34 million gap between expenses and revenue. The city council will adopt the budget in June for the fiscal year that begins July 1.

Proehlific Club closed after management company declares bankruptcy

April 16, 2014

(The News & Record, Greensboro)

Greensboro's Forest Oaks Country Club, which has been marketed under the Proehlific Club name since March 2013, is closed indefinitely after management company ES2 declared bankruptcy. 

Lowe's CEO pay grew 50% in 2013

April 15, 2014

(The Charlotte Observer)

Robert Niblock's total compensation for 2013 was $18.7 million, more than 50% higher than his 2012 earnings. The chief executive of Mooresville-based Lowe's received a stock grant that was 83% bigger than in 2012 and his bonus nearly doubled.

Investors urge shareholders to vote out four Duke Energy directors

April 15, 2014

(The Charlotte Observer)

In light of Duke Energy's problems with coal-ash contamination, two major investors are urging shareholders not to re-elect four directors that serve on a committee that oversees the utility's environmental, safety and health compliance.

 

Duke Energy selects Lumberton site for possible development

April 15, 2014

(The Fayetteville Observer)

Duke Energy Progress has hired a consulting group to study a 257-acre site in Robeson County for a potential industrial or manufacturing project. The Lumberton site is one of five in the state chosen by the utility as part of its 2014 Site Readiness Program.

TIAA-CREF buys Nuveen Investments for $6.25 billion

April 15, 2014

(The Charlotte Observer)

New York-based TIAA-CREF will buy Chicago-based Nuveen Investments for $6.25 billion to expand its product offerings. It is unknown whether the deal will affect employment at the retirement-services provider's Charlotte campus, its largest corporate office with about 3,100 employees.

Tupelo Honey Cafe to open fourth NC restaurant in Raleigh

April 15, 2014

(Asheville Citizen-Times)

Asheville's Tupelo Honey Cafe will open its first restaurant in Raleigh this fall at Cameron Village. It will be the restaurant chain's fourth in North Carolina; it has two in Asheville and one in Charlotte. 

1,200 apply for call-center jobs in High Point

April 15, 2014

(The News & Record, Greensboro)

APAC Customer Services received 1,200 applications for 500 call-center jobs the company needs to fill by July. The jobs will service a "major communications company" at the company's High Point service center. 

Chimerix CEO gets pay raise, stock options

April 15, 2014

(The News & Observer, Raleigh)

Michelle Berrey will receive an annual salary of $440,000 and stock options in her new role as president and chief executive officer of Durham-based Chimerix, $76,000 more than her previous salary. She will also be eligible for a performance-based bonus of up to 50% of her salary. Berrey will retain her title as chief medical officer of the drug-development company.

Park Sterling CEO earns 32% more in 2013

April 15, 2014

(The Charlotte Observer)

The chief executive of Charlotte-based Park Sterling Bank earned about 32% more in 2013 than the year before. Jim Cherry's total compensation for the year was $750,846, a sum which included a $200,000 cash bonus.