Business

Reynolds' Vuse available in 100,000 stores

February 13, 2015

(Winston-Salem Journal)

R.J. Reynolds Vapor Co. said its Vuse electronic cigarettes are now available in about 100,000 retail outlets. The Reynolds American subsidiary began national distribution of Vuse in June. Meanwhile, Greensboro-based Lorillard reported declining sales of its blu eCigs branded electronic cigarettes. Sales of blu dropped 27.8% during the fourth quarter of 2014.

UNC Chapel Hill tied for second in IPO class of 2014

February 13, 2015

(The News & Observer, Raleigh)

Three chief executives who took their companies public in 2014 were graduates of UNC Chapel Hill, according to Equilar, a Calif.-based firm that provides data about executive compensation. Harvard produced seven CEOs who led their companies through IPOs last year, while Columbia University, Stanford University, Texas Tech University and UNC Chapel Hill each had three.

 

Dillsboro considers cash incentives to attract businesses

February 13, 2015

(The Sylva Herald)

When visitors step off of the Great Smoky Mountains Railroad in Dillsboro, at least nine vacant storefronts are there to greet them. Town leaders are hoping to lure new businesses by offering them cash incentives.

BofA lays off 250 in Charlotte

February 12, 2015

(The Charlotte Observer)

Bank of America will lay off 250 mortgage and technology workers in Charlotte. Most of the affected employees work in uptown's Gateway Village. The Charlotte-based bank announced last week it was laying off 202 people in its Legacy Assets Servicing unit, which services troubled loans, in Norfolk, Va.

NC Ports Authority to sell coastal properties

February 12, 2015

(StarNews, Wilmington)

The N.C. State Ports Authority will shed about a dozen properties and plans to use the proceeds for capital improvements at its deepwater ports in Wilmington and Morehead City. The authority will sell the 42-acre Southport Marina and 11 mostly undeveloped properties in Brunswick, Carteret and New Hanover counties. 

Crescent unveils plans for uptown Charlotte development

February 12, 2015

(The Charlotte Observer)

Crescent Communities plans to begin construction of a mixed-use project in uptown Charlotte in the fourth quarter. The development will include up to 400 hotel rooms, 450 apartments and a 47,000-square-foot Whole Foods grocery store with a rooftop deck. Construction is expected to be complete by late 2017.

Robeson to hold incentives hearing for familiar-sounding project

February 12, 2015

(The Fayetteville Observer)

Robeson County and the town of St. Pauls will hold public hearings Monday on "Project Apple," an unidentified economic-development project that closely resembles the Sanderson Farms proposal that Cumberland County commissioners also plan to vote on Monday. Newspaper advertisements said the project would involve a $115 million investment and create 1,100 jobs.

Report: BofA used government-backed funds to finance trades

February 12, 2015

(The Charlotte Observer)

The Wall Street Journal reported that Bank of America used funds from its government-backed U.S. banking subsidiary to finance billions of dollars in controversial transactions that helped hedge funds and others avoid taxes. A bank spokesman says the practice, which dates back to 2011, has ended.

Duke Energy seeks uses for recycled coal ash

February 12, 2015

(Asheville Citizen-Times)

Duke Energy has asked researchers to submit analyses of potential uses for recycled coal ash to the state by Feb. 20. Company officials say they believe they can use the all of the byproduct being produced today in concrete and other applications.

Greensboro-based Lorillard reports 16.3% increase in net income

February 12, 2015

(Winston-Salem Journal)

Lorillard reported a 16.3% increase in fourth-quarter net income to $327 million. The Greensboro-based cigarette manufacturer also said sales increased 1.4% to $1.77 billion. Net income for the full year was $1.19 billion, up 0.6% from the previous year.