Business

Fayetteville Chamber president resigns abruptly

May 11, 2016

(The Fayetteville Observer)

After only six months on the job, retired Maj. Gen. Rodney Anderson has resigned as president of the Greater Fayetteville Chamber. Darsweil Rogers, chairman of the Public Works Commission, will take over as interim CEO on Friday. The chamber has been seen its membership decline by about 20% in recent years.

Natty Greene's plans restaurant, market at Greensboro's Revolution Mill

May 11, 2016

(News & Record, Greensboro)

Local beer-maker Natty Greene's Pub & Brewing Co. will invest about $3 million in a 250-seat restaurant and market at Revolution Mill, once part of textile giant Cone Mills that is being redeveloped by Durham-based Self-Help credit union. The restaurant will have less of a pub feel and will be more like a steakhouse, with prices ranging from $11 to $50.

Charlotte seeking developer for 17 acre-Brooklyn Village

May 11, 2016

(The Charlotte Observer)

Three developers will pitch plans next week to revitalize and area in downtown Charlotte that is now home to aging government buildings, surface parking lots and an underused park. The site was once an African-American neighborhood that was demolished in the 60s. Crescent Communities, Conformity Corp. and CitiSculpt will present proposals, which include a mix of residential, retail and office space for the site in downtown's Second Ward.

Southern Company completes PowerSecure purchase

May 11, 2016

(WRAL TechWire)

Georgia-based Southern Company has completed its $425 acquisition of PowerSecure, the Wake Forest-based company that makes distributed-energy systems. Stockholders received $18.75 a share. PowerSecure's headquarters will remain in Wake Forest.

Krispy Kreme to be acquired for $1.35B

May 10, 2016

(Winston-Salem Journal)

JAB Holding will acquire the doughnut maker for $1.35 billion and take the company private. The German company has controlling interest in Keurig Green Mountain, Peet's and Caribou Coffee. The price represents a 25% premium of Krispy Kreme's closing share price of $16.86 on Friday. Shares soared 24% in afternoon trading on Monday.

Teleflex closing Arrow plant in Asheboro June 26

May 10, 2016

(The Courier-Tribune)

The parent company of Arrow International has announced a closing date for its Asheboro plant. Teleflex said in 2014 it would begin a phased shutdown of the factory, where the company makes medical products such as disposable catheters. The plant closing will impact 456 workers in the city with a population of about 26,000.

Study: Asheville housing market is unsustainable

May 10, 2016

(Asheville Citizen-Times)

The housing market in the Asheville metro area has reached an unhealthy level, where only the wealthy can afford to live there and locals are being priced out of the market, according to a national report by insurer Nationwide.

Durham's Chimerix reports disappointing clinical-trial results

May 10, 2016

(The News & Observer, Raleigh)

The Durham drug developer said brincidofovir, its experimental antiviral drug, failed to improve patients' survival rates in a clinical trial. The company reported a net loss of $26.3 million in the first quarter, compared with a net loss of $22.3 million a year ago. A contract with BARDA provides revenue for Chimerix, which had $315.7 million in cash at the end of the quarter. Chimerix's shares have fallen more than 90% since last August.

National Mustang Museum coming to Concord

May 10, 2016

(The Independent Tribune, Concord)

Mustang enthusiasts Steve Hall and Ron Bramlett plan to spend more than $1 million to build a new museum showcasing Ford Mustangs. Bramlett, who lives in Morada, Calif., was executive director of the Mustang 50th Birthday Celebration in 2014, a five-day event that brought more than 50,000 Mustang fans to Cabarrus County, generating about $8.3 million in spending.

Former Lowe's exec joins Dollar Tree board of directors

May 10, 2016

(The Charlotte Observer)

Gregory Bridgeford was named a director at Dollar Tree, the Virginia-based chain that bought Family Dollar Stores for about $9.1 billion last year. Bridgeford, 61, was Lowe's chief customer officer before he retired in 2014 and previously served in executive roles in corporate development, merchandising and marketing at the Mooresville-based home-improvement retailer.