Business

Icahn says Levine shouldn't be CEO of Family Dollar

July 17, 2014

(The Charlotte Observer)

Investor Carl Icahn criticized Family Dollar's management and said Leon Levine should not be CEO of the Matthews-based company. Icahn acquired a 9.4% stake in the discount retailer last month and has been trying to force a sale of the company. 

BofA raises settlement offer with Justice Department

July 17, 2014

(The Charlotte Observer)

Bank of America has resumed talks with the U.S. Department of Justice and has offered a settlement of $12 billion to resolve probes related to mortgage-backed bonds it sold to investors prior to the financial crisis. Second-quarter profits fell 43%, due in part to $4 billion in legal expenses.

Merz Pharma moving North American headquarters to Raleigh

July 17, 2014

(The News & Observer, Raleigh)

Merz Pharma will move its North American headquarters from High Point to Raleigh. The German company, which makes skin-care products for the treatment of fungal infections, wrinkles and scars, employs 193 in High Point. It expects to add about 50 jobs.

ABC series resumes production in Wilmington

July 17, 2014

(StarNews, Wilmington)

The ABC mystery series "Secrets and Lies" will begin production in Wilmington July 24. The pilot for the show, which stars Ryan Phillippe and Juliette Lewis, was filmed in the Porters Neck area in March. Nine more episodes will be filmed.

Fracking possible in Nantahala, Pisgah national forests

July 17, 2014

(Watauga Democrat)

The U.S. Forest Service acknowledged in a statement the potential for fracking for natural gas in the Nantahala and Pisgah national forests. North Carolina is studying potential shale-gas deposits in Western counties.

Boy treated with Chimerix drug going home

July 17, 2014

(The News & Observer, Raleigh)

An 8-year-old boy who received an experimental antiviral drug from Durham-based Chimerix was scheduled to be released from St. Jude's Children's Hospital on Wednesday. Josh Hardy's family led a social-media campaign to convince the drug developer to give him the drug, which had not been approved by the FDA.

Owner of Leland oil company receives prison sentence

July 17, 2014

(StarNews, Wilmington)

The owner of P&W Waste Oil Services was sentenced to three and a half years in federal prison and must pay $21.37 million in restitution for mishandling used oil that contained PCBs. The Leland company sold the contaminated oil to another company.  

Tobacco merger 'best possible outcome' for Triad

July 16, 2014

(Winston-Salem Journal)

Reynolds American CEO Susan Cameron says there should be no job cuts in Forsyth County related to the tobacco company's $27.4 billion acquisition of Greensboro-based Lorillard. Gayle Anderson, president of the Winston-Salem Chamber of Commerce, said the deal, expected to close in the first half of 2015, is "the best possible outcome for the Triad," with regards to preserving tobacco-industry presence in Winston-Salem and Greensboro.

Sanderson Farms could bring poultry plant, 1,100 jobs to Cumberland County

July 16, 2014

(The Fayetteville Observer)

Sanderson Farms is considering Cumberland County for a chicken-processing plant that would employ 1,100 workers. The Mississippi-based company abandoned plans for a similar project in Nash County in 2012 after the city of Wilson and some residents filed lawsuits citing environmental concerns.

FirstHealth seeks to expand in Moore County

July 16, 2014

(The Fayetteville Observer)

FirstHealth of the Carolinas is seeking approval for a $15.3 million expansion that would add 25 beds to the 312-bed medical center in Moore County. According to an application filed with the Department of Health and Human Services, the addition would be completed by October 2016.