Business

Teleflex closing Arrow plant in Asheboro June 26

May 10, 2016

(The Courier-Tribune)

The parent company of Arrow International has announced a closing date for its Asheboro plant. Teleflex said in 2014 it would begin a phased shutdown of the factory, where the company makes medical products such as disposable catheters. The plant closing will impact 456 workers in the city with a population of about 26,000.

Study: Asheville housing market is unsustainable

May 10, 2016

(Asheville Citizen-Times)

The housing market in the Asheville metro area has reached an unhealthy level, where only the wealthy can afford to live there and locals are being priced out of the market, according to a national report by insurer Nationwide.

Durham's Chimerix reports disappointing clinical-trial results

May 10, 2016

(The News & Observer, Raleigh)

The Durham drug developer said brincidofovir, its experimental antiviral drug, failed to improve patients' survival rates in a clinical trial. The company reported a net loss of $26.3 million in the first quarter, compared with a net loss of $22.3 million a year ago. A contract with BARDA provides revenue for Chimerix, which had $315.7 million in cash at the end of the quarter. Chimerix's shares have fallen more than 90% since last August.

National Mustang Museum coming to Concord

May 10, 2016

(The Independent Tribune, Concord)

Mustang enthusiasts Steve Hall and Ron Bramlett plan to spend more than $1 million to build a new museum showcasing Ford Mustangs. Bramlett, who lives in Morada, Calif., was executive director of the Mustang 50th Birthday Celebration in 2014, a five-day event that brought more than 50,000 Mustang fans to Cabarrus County, generating about $8.3 million in spending.

Former Lowe's exec joins Dollar Tree board of directors

May 10, 2016

(The Charlotte Observer)

Gregory Bridgeford was named a director at Dollar Tree, the Virginia-based chain that bought Family Dollar Stores for about $9.1 billion last year. Bridgeford, 61, was Lowe's chief customer officer before he retired in 2014 and previously served in executive roles in corporate development, merchandising and marketing at the Mooresville-based home-improvement retailer.

Hospital supporters hold tent vigil in Belhaven

May 9, 2016

(The News & Observer, Raleigh)

A group of activists has set up a tent encampment at the former Pungo District Hospital in Belhaven, a town of about 1,200 residents, worried that owners plan to demolish the building. Vidant Health shuttered the hospital in 2014, leaving some residents an hour's drive from the nearest ER. The hospital's supporters have until July 1 to give notice that they plan to reopen the hospital.

McCrory requests extension for response on HB2

May 9, 2016

(The News & Observer, Raleigh)

Gov. Pat McCrory has asked the U.S. Department of Justice for an extension of Monday's deadline to declare the state won't comply with House Bill 2, which the Justice Department said last week violates the U.S. Civil Rights Act. McCrory said the deadline was unrealistic; a Justice Department spokesperson said discussions about extension requests are ongoing.
Related: Charlotte mayor's texts to McCrory provide window into HB2 fight

PGA officials turn focus to Eagle Point in 2017

May 9, 2016

(StarNews, Wilmington)

As the Wells Fargo Championship wrapped up Sunday in Charlotte, organizers are already promoting next year's tournament, which will be held at Eagle Point Golf Club in New Hanover County. Ticket sales have been brisk, and the Wilmington area expects an economic impact of $40 million to $60 million.

Herbalife says it's close to settlement with FTC

May 9, 2016

(WRAL.com)

Nutritional-products manufacturer Herbalife said Friday it is in advanced talks to settle a federal investigation into whether the company operates as a pyramid scheme. Shares rose $5.30 on Friday, closing at $63.62; the company's stock has risen 36% from a year ago. Herbalife employs more than 400 people in Winston-Salem.

N.C. Rep. McGrady wants to revive coal ash commission

May 9, 2016

(The Charlotte Observer)

N.C. Rep. Chuck McGrady says he will introduce a bill to revive the Coal Ash Management Commission, created by the state legislature in 2014 to oversee state regulators then later disbanded following a January Supreme Court ruling over how members were appointed. McGrady, a Republican from Hendersonville, says the state Department of Environmental Quality needs oversight on decisions regarding cleanup of coal-ash ponds.