Business

CEO of Durham's Carolina Theatre resigns

January 25, 2016

(The News & Observer, Raleigh)

Bob Nocek resigned Friday as president of Durham's Carolina Theatre. Last month, the board discovered that the organization was more than $1 million in debt, $800,000 more than it had previously realized. Nocek has led the nonprofit since 2010.

2 successful exits for Wilmington investment group

January 25, 2016

(Greater Wilmington Business Journal)

Wilmington Investment Network experienced nearly a tenfold return when Austin, Texas-based Greenridge Investment Partners in December bought an 80% stake in Consolidated Asset Recovery Systems, a Raleigh-based SaaS (software as a service) company. WIN, a group of 35 Wilmington investors, also received a return on investment in last week's $4.2 million sale of Wilmington's Oak Court Apartments to a Charlotte-based group.

Hoke County ethanol plant lays off 20

January 25, 2016

(The Fayetteville Observer)

Tyton NC Biofuels has ceased production and laid off 20 of its 46 employees. Lower gasoline prices and disappointing local corn production contributed to the decision, according to General Manager Rick Brehm. The company, a partner of Danville, Va.-based Tyton BioEnergy Systems, bought the plant for less than $15 million in 2014, the Fayetteville Observer reported.

Utah company buys Southern Pines marketing agency

January 25, 2016

(The Pilot, Southern Pines)

Utah-based Clearlink has acquired buyCalls, a marketing agency based in Southern Pines. The company will operate as a division of Clearlink and will remain in Southern Pines. Clearlink has more than 1,200 employees; brand partners include ADT, AT&T, Progressive and Verizon.

American cancels all Friday flights at CLT

January 22, 2016

(The Charlotte Observer)

In anticipation of the winter storm than could bring up to 4 inches of snow to the Queen City, American Airlines canceled all flights to and from Charlotte Douglas International Airport on Friday. American operates more than 90% of daily service at the airport. Flights are expected to resume Saturday morning.

BB&T, National Penn deal expected to close April 1

January 22, 2016

(Winston-Salem Journal)

BB&T expects to complete its $1.8 billion purchase of National Penn Bancshares on April 1, three months earlier than projected. The Allentown, Pa.-based bank has about $9.6 billion in assets and more than 120 branches.
Also: Merger costs push down BB&T's profit for second consecutive quarter

Sitel closing Asheville call center, 250 layoffs expected

January 22, 2016

(Asheville Citizen-Times)

Sitel, a global business-services company, will move the work done at its Asheville call center to Knoxville, Tenn. About 250 workers will be affected when the center closes, by July 30. Workers who want to transfer will be offered jobs in Knoxville.

Moynihan: BofA's workforce will continue to shrink

January 22, 2016

(The Charlotte Observer)

In an interview on Bloomberg TV Thursday, Bank of America CEO Brian Moynihan reiterated that more job cuts are ahead in 2016, though he declined to say how many. The Charlotte-based lender shed more than 10,000 jobs last year. Here are some key takeaways from BofA's annual financial report.

Aquesta Financial expanding in Wilmington

January 22, 2016

(Greater Wilmington Business Journal)

Aquesta Financial Holdings will open a second insurance-services office in the Wilmington area and plans to open a full-service bank branch there in the spring. The Cornelius-based company has five bank branches, mostly in north Mecklenburg County, and four insurance-services offices.

Former Microsoft exec named Citrix CEO

January 22, 2016

(The News & Observer, Raleigh)

Kirill Tatarinov, 51, will become president and CEO of Citrix Systems on Monday. He replaces interim CEO Robert Calderoni, who has been filling in since N.C. State grad Mark Templeton retired in October. Tatarinov was executive vice president of Microsoft's business solutions division from July 2007 to July 2015. Citrix, which acquired Raleigh's ShareFile in 2011, employs about 600 in downtown Raleigh.