Business

Four Southeast states discuss high-speed rail project

May 11, 2015

(The Times-News, Hendersonville)

U.S. Transportation Secretary Anthony Foxx says Georgia and South Carolina are considering joining a compact between North Carolina and Virginia to study and advocate for a multistate, high-speed rail project in the Southeast.

UNC, GlaxoSmithKline team up to find cure for AIDS

May 11, 2015

(The News & Observer, Raleigh)

UNC Chapel Hill and GlaxoSmithKline will form a joint venture focused on developing a cure for AIDS. Located on the UNC campus, Qura Therapeutics initially will employ about 20 scientists. GSK, which has its North American headquarters at RTP, will invest $20 million over five years in the company.

Report: Volvo to build plant in South Carolina

May 11, 2015

(The Charlotte Observer)

Volvo will build its first U.S. manufacturing plant about 40 miles northwest of Charleston, S.C., according to a report in the Atlanta Journal-Constitution. The Swedish automaker also had considered a site near Savannah, Ga. A formal announcement is expected Monday.

Randolph wants to buy more land for megasite

May 11, 2015

(News & Record, Greensboro)

Randolph County commissioners will hold a public hearing June 1 to discuss plans to purchase a second parcel of land for a megasite it hopes will attract an automaker. The county has acquired 255 acres of a proposed 1,800-acre site.

Bojangles' shares up 25% after stock-market debut

May 11, 2015

(The Charlotte Observer)

Shares of Charlotte-based Bojangles' closed Friday at $23.75, up 25% from its IPO price of $19 a share. CEO Clifton Rutledge said Friday the company plans to expand gradually and won't move too quickly into new markets.

2,600-home community proposed for Pender County

May 11, 2015

(Greater Wilmington Business Journal)

A development group called Lane's Ferry Landing wants to build a mixed-use community on 988 acres in Pender County with up to 2,600 residential units, a marina, retail shops and offices. County officials are expected to consider the master development plan later this month and in June.

Commercial Credit postpones IPO

May 11, 2015

(The Charlotte Observer)

Charlotte-based lender Commercial Credit Group has postponed its plans to go public, according to IPO adviser Renaissance Capital. Las Vegas-based International Market Centers, which owns the majority of showroom buildings at the High Point Market, also postponed its planned IPO, Renaissance said last week.

Raleigh wants to make it easier to build skyscrapers

May 11, 2015

(The News & Observer, Raleigh)

Raleigh City Council will consider new height limits that would allow developers to build downtown towers as high as 40 stories without obtaining special permission. Currently, projects more than 80 feet high, or about six floors, must obtain approval from the city's planning commission.

Bank of the Carolinas to be acquired for $64M

May 8, 2015

(Winston-Salem Journal)

Mocksville-based Bank of the Carolinas will be sold to Bank of the Ozarks for $64.7 million in stock. The Little Rock, Ark.-based bank will increase its N.C. deposits from $596.2 million to $963.7 million, giving it the No. 19 market share in the state.

Growth up next for Bojangles' after Friday's IPO

May 8, 2015

(The Charlotte Observer)

Bojangles' will sell 7.75 million shares priced at $19 each, according to a securities filing Thursday. Friday's IPO could raise as much as $169 million. The Charlotte-based fast-food chain plans to increase the number of stores by 7 to 8% a year, though it could face challenges in the competitive breakfast segment and in expanding beyond the Carolinas.