Business

Woods to play Wyndham for 1st time

August 18, 2015

(News & Record, Greensboro)

Tiger Woods will play in Greensboro's Wyndham Championship for the first time. The first round of the golf tournament, held at Sedgefield Country Club, begins Thursday.

Big holders of INC Research stock cash in

August 17, 2015

(The News and Observer)

Avista Capital Partners, a private equity firm, and a Canadian public pension fund, the Ontario Teachers Pension Plan, sold shares of INC Research for more than $350 million, according to regulatory filings. INC is based in Raleigh and is a contract research organization. Its stock has jumped more than 70% this year. Avista and the Canadian firm still hold about half of the company's shares.

Raleigh pharma company awaits FDA ruling on women's libido enhancer

August 17, 2015

 (The News & Observer)

The Food and Drug Administration is expected to announce Tuesday if it has approved Raleigh-based Sprout Pharmaceuticals' application for the world's first pill to boost women's sex drive. The drug, Addyi, will be marketed as "the little pink pill." It has been rejected twice over questions of its safety and effectiveness.


Read more here: http://www.newsobserver.com/news/business/article31116701.html#storylink=cpy

Charlotte apartment boom caters to young, higher-income

August 17, 2015

(The Charlotte Observer)

Almost all of the new apartment that are under construction or opened in recent years in Charlotte cater to young professionals, replacing more affordable apartments. The result is many families with modest incomes have been forced to leave neighborhoods with rising real-estate values.


Read more here: http://www.charlotteobserver.com/news/business/biz-columns-blogs/development/article31089159.html#storylink=cpy

3,000 apartments being built in the Triad

August 17, 2015

(The Greensboro News & Record)

The apartment market in Greensboro, Winston-Salem and High Point continues to grow with 3,000 apartments under construction and 2,200 planned by developers. A big factor in the growth is continued sluggish demand for new and existing homes, along with conservative lending by mortgage bankers.

BNC Bancorp makes South Carolina acquisition

August 17, 2015

(The Winston-Salem Journal)

BNC Bancorp plans to spend $95.5 million in stock to expand its foothold in the Charleston, S.C., market, acquiring Southcoast Financial Corp. of Mount Pleasant. The Palmetto State bank  has 10 branches in the area. BNC, based in High Point, would gain $506 million in total assets from Southcoast, putting it at $6 billion if the deal is completed in the first quarter.

Harrah's to open new Western NC casino in September

August 17, 2015

(Asheville Citizen-Times)

Harrah’s Cherokee Valley River Casino & Hotel in Murphy is scheduled to open Sept. 28. The resort, which was built over the last two years and cost $110 million, is expected to employ about 900 people, according to the Cherokee Nation.

Portman starts building Charlotte office tower

August 17, 2015

(The Charlotte Observer)

A dozen years after opening the Westin hotel in downtown Charlotte, Atlanta-based Portman Holdings has started construction of a 21-story office tower on an adjacent block. The development is expected to cost $122 million and open in February 2017.

ACN's love affair with Donald Trump

August 17, 2015

(The Wall Street Journal)

The close relationship between Concord-based ACN Inc. and Donald Trump was covered in a  lengthy Wall Street Journal story.

Trump, the Journal reported, featured ACN twice on his former reality TV show, “The Celebrity Apprentice.” He also made $450,000 for each of three speeches for ACN in 2014 and earlier in 2015. Trump told the Journal he doesn't know specifics of ACN's business model, which the newspaper described as "multilevel marketing."


Read more here: http://www.charlotteobserver.co/article31039698.html#storylink=cpy

A Michael Jordan endorsement is worth $10 million, aide says.

August 14, 2015

(The Charlotte Observer)

Use of Michael Jordan’s name is worth $10 million, the market chief for Jordan’s businesses said at a Chicago trial. Estee Portney made the comment at a civil trial in Chicago federal court involving grocery-store chain Dominick’s Finer Foods. Jordan claims the chain used his name and jersey number without permission.