Business

Ethan Allen expands in Maiden

January 26, 2016

(Furniture Today)

Ethan Allen has converted a 173,000-square-foot former distribution center in Maiden to a furniture upholstery plant and research and development center. The Connecticut-based company has two existing upholstery factories in Catawba County.

Could Texas oil slump provide opportunity for BB&T?

January 26, 2016

In 2009, BB&T entered Texas as part of its purchase of $20 billion in assets and $22 billion in loans from the failed Colonial Bank. The deal gave it a toehold in Dallas, which BB&T has since expanded to more than 120 branches. Could stumbles in the energy sector lead to even greater opportunity for the Winston-Salem bank?

CLT could break passenger record

January 26, 2016

(The Charlotte Observer)

Charlotte Douglas International Airport is on track to set a new annual record for the number of passengers in 2015. Through November, more than 41.2 million people used the nation's sixth-busiest airport, a 1.5% increase over the previous year. Final year-end results will be released in February. The record, set in 2014, is 44.3 million.

BNC Bancorp reports record quarterly profit

January 26, 2016

(Winston-Salem Journal)

High Point-based BNC Bancorp reported a 49.8% increase in net income for the quarter and 51.2% for the full year. The lender plans to complete two more acquisitions in 2016, Southcoast Financial and High Point Bank, that will push assets to $6.8 billion and give it a total of 86 branches.

Report: Drone sales will skyrocket in 2016

January 26, 2016

(WRAL TechWire)

Sales of commercial drones are expected to increase 84% this year, according to a report by United Kingdom-based Juniper Research. The agriculture industry will account for 48% of sales, the report says.
Read more about the drone industry in NC: "Pie in the sky," September 2014

Demand high for Super Bowl tickets

January 25, 2016

(Forbes)

If you want to travel to Santa Clara, Calif., to see Cam Newton and the Carolina Panthers play in Super Bowl 50, tickets will be hard to come by and will probably cost more than any of the last five Super Bowls. After Sunday's conference title games, the average ticket was reselling for $5,335, according to SeatGeek.

Coty to invest $19M in Sanford plant

January 25, 2016

(The Fayetteville Observer)

Beauty-products manufacturer Coty plans to add 25 jobs and invest $19 million at its plant in Lee County, where the company employs more than 750 people, plus several hundred contractors. New York-based Coty announced in July it is acquiring 43 of Procter & Gamble's beauty and cosmetics brands for $12.5 billion.

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.