Business

UNC Hospitals prepares to open Hillborough campus

June 23, 2015

(The Times-News, Burlington)

UNC Hospitals will open its new 68-bed medical center in Hillsborough in August. The emergency department will open July 6. The 256,000-square-foot facility will employ about 450 people. The Hillsborough campus was created to move less complicated cases from UNC's main hospital in Chapel Hill.

Former Cisco exec named CFO of Red Hat

June 23, 2015

(The News & Observer, Raleigh)

Raleigh-based software company Red Hat named Frank Calderoni executive vice president and CFO. Calderoni was CFO of California-based Cisco Systems for seven years and was named one of Institutional Investor magazine's Best CFOs in the U.S. from 2012 to 2014. He replaces Charlie Peters, who is retiring.

A-B Tech closing Enka campus

June 23, 2015

(Asheville Citizen-Times)

Asheville-Buncombe Technical Community College will close two buildings on its Enka campus by the end of September as part of a cost-cutting effort. The Enka campus houses programs including a small business incubator and craft beverage institute; President Dennis King said the school will try to relocate as many programs as possible.

Northwood Ravin wins bidding war in uptown Charlotte

June 23, 2015

(The Charlotte Observer)

Charlotte City Council voted to sell a 3.8-acre parcel of uptown land to local apartment developer Northwood Ravin, which offered almost $14.2 million for the property. Another company, Morgan Bond, offered an upset bid of $15.1 million, but the company failed to meet a deadline for an escrow deposit. Four companies had bid on the property at Stonewall and Caldwell streets.

Premier's Devore is NC's highest paid CEO

June 22, 2015

(The Charlotte Observer)

Susan Devore, CEO of Charlotte-based Premier, earned $24.9 million in total compensation last year, marking the first time a woman has ranked as the highest paid executive of a North Carolina-based public company.

Dunn's Select Bank to acquire 2 Yadkin branches

June 22, 2015

(The Fayetteville Observer)

Dunn-based Select Bancorp will acquire Yadkin Bank branches in Leland and Morehead City. Yadkin said in April it planned to sell or close about a half-dozen branches as part of a cost-cutting effort. The deal is expected to close in the fourth quarter. Formerly New Century Bancorp, the parent of Select Bank & Trust has 14 branches, mostly in eastern N.C. (Read more about Select Bancorp, from our June issue)

Judge finds Yadkin Valley hospital operator in contempt

June 22, 2015

(Winston-Salem Journal)

A federal judge ruled the company that operated Yadkin Valley Community Hospital must pay the county damages from May 22 – when the group abruptly closed the 20-bed hospital – until it is reopened or July 31, when its contract expires.

TE Connectivity meets goal of adding 40 jobs in Buncombe County

June 22, 2015

(Asheville Citizen-Times)

Buncombe County commissioners awarded TE Connectivity more than $37,000 in incentives in exchange for the company creating 40 jobs in Fairview over the last two years.

The paradoxical image of Vertex Rail

June 22, 2015

(Greater Wilmington Business Journal)

Seven months after Vertex Rail announced plans to hire 1,300 people at a manufacturing site in Wilmington, another company led by CEO Don Croteau has filed for bankruptcy and the company has said it joined a new joint venture with a private-equity partner and a Chinese rail-manufacturing firm.

Charlotte City Council to vote on plans for Stonewall property

June 22, 2015

(The Charlotte Observer)

Charlotte City Council will decide Monday on whether to sell a 3.8-acre parcel of uptown land to local developer Northwood Ravin, which offered nearly $14.2 million for the property, or Morgan Bond, which put in a higher bid but didn't provide a fully funded escrow account before the deadline. Four developers have bid on the property.