Business

Northern Hospital names Cook interim CEO

April 14, 2014

(The Winston-Salem Journal)

Timothy Cook was named interim chief executive officer of Northern Hospital of Surry County. Cook was president and CEO of 321-bed Osceola Regional Medical Center in Kissimmee, Fla. for 14 years.  Former CEO Bill James left to become president of Wake Forest Baptist Health-Lexington Medical Center.  

Biotech and Internet stocks fall, bring Nasdaq down

April 11, 2014

(The News & Observer, Raleigh)

The Nasdaq fell 3.1% on Thursday as biotechnology and Internet stocks dropped. It was the index's worst day since November 2011. Investors have shifted recently to safer investments including utilities, health care and consumer staples as tech companies grow more expensive and regulators have increased scrutiny of drug costs.

Family Dollar to close 370 stores amid falling sales, profits

April 11, 2014

(The Charlotte Observer)

Matthews-based Family Dollar Stores will close 370 stores, about 5% of its 8,100, after sales and profits fell in its second quarter. The discount retailer reported profits for the quarter ending March 1 were $91 million, down 35% compared with the same quarter a year ago, while sales fell 6% to $2.7 billion.

Buck Stove to add up to 50 jobs at Mitchell County manufacturing plant

April 11, 2014

(Asheville Citizen-Times)

Buck Stove Corp. will invest $1 million in its Spruce Pine manufacturing plant and will add 30 to 50 new jobs within three years. The company makes wood- and gas-burning stoves and patio products and recently signed a deal to make steel components for N.C. artist Bob Timberlake's retail line of outdoor living products.

Lenovo still world's top PC maker, moves up in US market

April 11, 2014

(The News & Observer, Raleigh)

While the overall market for PCs continues to decline, Lenovo's shipments grew 10.9% in the first quarter, allowing it to maintain its status of the world's No. 1 PC maker ahead of HP. The company, which employs 2,500 in North Carolina, also moved up from No. 4 to No. 3 in the U.S. PC market rankings issued by market research group IDC. 

Charlotte Knights hold first game at new uptown ballpark tonight

April 11, 2014

(The Charlotte Observer)

The Charlotte Knights will hold their home opener at the new, 10,200-seat BB&T Ballpark in uptown Charlotte tonight. A festival begins at noon in adjacent Romare Bearden Park with a team introduction, autograph session, music and more.

Baxano Surgical gets FDA clearance for surgical product

April 11, 2014

(Greater Wilmington Business Journal)

Baxano Surgical received U.S. Food and Drug Administration clearance for a pedicle-screw product used in spinal surgeries. The Raleigh-based medical-device company will launch its Avance system, which incorporates the product, in limited release later this quarter. 

Four Oaks Bank could sell $50 million in assets

April 11, 2014

(American Banker)

Four Oaks Fincorp., parent company of Four Oaks Bank, may sell up to $50 million in assets. Investor Kenneth Lehman, who agreed last month to buy 875,000 shares of the company's common stock at $1 each, is working with the community bank on an asset-resolution plan. Four Oaks has 14 offices primarily in the Triangle area.

 

VF Corp. adds Chinese distribution center

April 11, 2014

(The Winston-Salem Journal)

As part of its efforts to double its business in China by 2017, Greensboro-based clothing manufacturer VF Corp. announced it has opened a $60 million distribution center there that can handle up to 30 million units of product annually and will employ about 400 people. 

Charlotte law firm starts group for alcohol industry

April 11, 2014

(The Charlotte Observer)

Horack Talley law firm has created a new group to help those in the beer, wine and spirits industry with permits, licensing, real estate and other concerns. The group will assist alcohol-makers navigate rules and regulations from the local to the federal level.