Business

Report: Drone sales will skyrocket in 2016

January 26, 2016

(WRAL TechWire)

Sales of commercial drones are expected to increase 84% this year, according to a report by United Kingdom-based Juniper Research. The agriculture industry will account for 48% of sales, the report says.
Read more about the drone industry in NC: "Pie in the sky," September 2014

Demand high for Super Bowl tickets

January 25, 2016

(Forbes)

If you want to travel to Santa Clara, Calif., to see Cam Newton and the Carolina Panthers play in Super Bowl 50, tickets will be hard to come by and will probably cost more than any of the last five Super Bowls. After Sunday's conference title games, the average ticket was reselling for $5,335, according to SeatGeek.

Coty to invest $19M in Sanford plant

January 25, 2016

(The Fayetteville Observer)

Beauty-products manufacturer Coty plans to add 25 jobs and invest $19 million at its plant in Lee County, where the company employs more than 750 people, plus several hundred contractors. New York-based Coty announced in July it is acquiring 43 of Procter & Gamble's beauty and cosmetics brands for $12.5 billion.

CEO of Durham's Carolina Theatre resigns

January 25, 2016

(The News & Observer, Raleigh)

Bob Nocek resigned Friday as president of Durham's Carolina Theatre. Last month, the board discovered that the organization was more than $1 million in debt, $800,000 more than it had previously realized. Nocek has led the nonprofit since 2010.

2 successful exits for Wilmington investment group

January 25, 2016

(Greater Wilmington Business Journal)

Wilmington Investment Network experienced nearly a tenfold return when Austin, Texas-based Greenridge Investment Partners in December bought an 80% stake in Consolidated Asset Recovery Systems, a Raleigh-based SaaS (software as a service) company. WIN, a group of 35 Wilmington investors, also received a return on investment in last week's $4.2 million sale of Wilmington's Oak Court Apartments to a Charlotte-based group.

Hoke County ethanol plant lays off 20

January 25, 2016

(The Fayetteville Observer)

Tyton NC Biofuels has ceased production and laid off 20 of its 46 employees. Lower gasoline prices and disappointing local corn production contributed to the decision, according to General Manager Rick Brehm. The company, a partner of Danville, Va.-based Tyton BioEnergy Systems, bought the plant for less than $15 million in 2014, the Fayetteville Observer reported.

Utah company buys Southern Pines marketing agency

January 25, 2016

(The Pilot, Southern Pines)

Utah-based Clearlink has acquired buyCalls, a marketing agency based in Southern Pines. The company will operate as a division of Clearlink and will remain in Southern Pines. Clearlink has more than 1,200 employees; brand partners include ADT, AT&T, Progressive and Verizon.

American cancels all Friday flights at CLT

January 22, 2016

(The Charlotte Observer)

In anticipation of the winter storm than could bring up to 4 inches of snow to the Queen City, American Airlines canceled all flights to and from Charlotte Douglas International Airport on Friday. American operates more than 90% of daily service at the airport. Flights are expected to resume Saturday morning.

BB&T, National Penn deal expected to close April 1

January 22, 2016

(Winston-Salem Journal)

BB&T expects to complete its $1.8 billion purchase of National Penn Bancshares on April 1, three months earlier than projected. The Allentown, Pa.-based bank has about $9.6 billion in assets and more than 120 branches.
Also: Merger costs push down BB&T's profit for second consecutive quarter

Sitel closing Asheville call center, 250 layoffs expected

January 22, 2016

(Asheville Citizen-Times)

Sitel, a global business-services company, will move the work done at its Asheville call center to Knoxville, Tenn. About 250 workers will be affected when the center closes, by July 30. Workers who want to transfer will be offered jobs in Knoxville.