Business

Heart disease cause of Crisco's death

July 16, 2014

(The News & Observer, Raleigh) 

Former N.C. Commerce Secretary Keith Crisco died of heart disease and high blood pressure, according to an autopsy released Tuesday. Crisco, 71, collapsed at his Asheboro home on May 12.

Stanley Furniture reports $19.1 million loss in second quarter

July 16, 2014

(Winston-Salem Journal)

High Point-based Stanley Furniture Industries reported a second quarter loss of $19.1 million, compared with a $3.5 million loss a year ago. The company said it took a $16.2 million restructuring charge related to closing its Robbinsville plant (Regional Report, May) which ended its domestic production.

Cary-based CRO to merge with Chiltern

July 16, 2014

(Greater Wilmington Business Journal)

United Kingdom-based Chiltern, a contract research organization with operations in Wilmington, will acquire Cary-based Ockham, which employs 400 worldwide. 

Imperial Tobacco hopes to revive Winston brand

July 16, 2014

(News & Record, Greensboro)

Imperial Tobacco Group said it plans to make Winston brand cigarettes the face of its U.S. marketing strategy and will distribute blu eCigs, the top-selling U.S. electronic cigarette brand, worldwide. 

CoreLogic to close Charlotte office

July 16, 2014

(The Charlotte Observer)

Irvine, Calif.-based CoreLogic will close its Charlotte office, laying off 46 workers by October. The company provides real-estate data and mortgage-document processing.

Vermont company acquires Raleigh's Gamila Products

July 16, 2014

(The News & Observer, Raleigh)

Raleigh-based Gamila products was acquired by Vermont-based Seventh Generation, which sells environmentally friendly household and personal-care products. Gamila sells products for brewing single-servings of coffee and tea.

Reynolds American to buy Lorillard for $27.4 billion

July 15, 2014

(Winston-Salem Journal)

Winston-Salem-based Reynolds American has agreed to purchase Greensboro-based Lorillard for $27.4 billion. As part of the deal, United Kingdom-based Imperial Tobacco Group will buy selected brands including blu eCigs and will acquire Lorillard's Greensboro manufacturing operations where the tobacco company employs 2,900.

IT company could bring 1,200 jobs to Cary

July 15, 2014

(The News & Observer, Raleigh)

North Carolina is offering more than $17 million in incentives to lure a technology and engineering company to Cary. The unidentified company would create 1,237 jobs over three years.

Record orders mean jobs, investment at New Hanover GE Aviation plant

July 15, 2014

(Greater Wilmington Business Journal)

Following a record-breaking year in 2013, GE Aviation's joint venture CFM International has taken orders totaling about $25 billion so far this year. The company's plant in Castle Hayne will get a $65 million upgrade and 35 new jobs to keep up with production.

Johnston Community College opts out of federal student loans

July 15, 2014

(Smithfield Herald)

Students at Johnston Community College can no longer receive student loans from the federal government. The school opted out of the program due to a rising default rate that could jeopardize its federal funding.