Business

Greensboro's Cone Health may close Women's Hospital

August 8, 2014

(News & Record, Greensboro)

Cone Health may close the 134-bed Women's Hospital in Greensboro and move services to The Moses H. Cone Memorial Hospital. Cone Health Executive Vice President Judy Schanel says the 40-year-old building needs significant renovations.

Chinese manufacturers returning to the Carolinas

August 8, 2014

(The Charlotte Observer)

As labor costs increase in China, textile companies based there are bringing manufacturing jobs back to the U.S., where energy and cotton prices are cheaper.

BofA said to reach settlement with DOJ over mortgage bonds

August 7, 2014

(The Charlotte Observer)

Bank of America has agreed in principle to pay between $16 billion and $17 billion to resolve investigations related to faulty mortgage bonds issued to investors between 2004 and 2008. 

Argos Therapeutics wants Durham to open its wallet for expansion

August 7, 2014

(The News & Observer, Raleigh)

Argos Therapeutics has asked the Durham City Council for a $924,676 incentive for an expansion that could lead to the creation of 236 new jobs and a $41 million capital investment. Durham County commissioners approved a $925,000 incentive last week. The company says five other counties and several locations outside of North Carolina have expressed interest in the project.

Residents sue Pittsboro over Chatham Park zoning approval

August 7, 2014

(The Sanford Herald)

A group of local citizens filed a lawsuit against the town of Pittsboro that challenges its zoning approval for the Chatham Park development. Pittsboro Matters says the Board of Commissioners did not allow enough citizen input before approving the plan and ignored recommendations made by an outside consultant, including setting aside at least 30% of the land for conservation areas. 

Danny Glover visits Robeson County poultry plant to support union

August 7, 2014

(The Fayetteville Observer)

"Lethal Weapon" actor Danny Glover visited the Mountaire Farms plant in Lumber Bridge on Wednesday to show his support for unionizing the the plant's workers. About 2,000 people are employed at the poultry plant.

Drone use increasing among Charlotte businesses

August 7, 2014

(The Charlotte Observer)

Charlotte-area businesses aren't waiting for Federal Aviation Administration approval to begin the use of commercial drones. Drones are being used primarily to take aerial photographs and videos for insurance and real-estate companies.

High Point's Culp investing $9.5 million in fabric plants

August 7, 2014

(Winston-Salem Journal)

High Point-based Culp Inc. will invest $9.5 million to expand mattress-fabric operations at plants in the U.S. and Canada. About $7.2 million will be invested in one of the company's Stokesdale plants, though a company representative says there are no plans to add jobs at this time.

Federal Reserve approves BofA dividend increase

August 7, 2014

(The Charlotte Observer)

The Federal Reserve has approved Bank of America's resubmitted capital plan and will allow the Charlotte-based bank to raise its quarterly dividend from a penny to 5 cents. Unlike the original plan, the resubmitted plan does not include a stock buy-back.

Greensboro Partnership CEO to retire

August 7, 2014

(News & Record, Greensboro)

Pat Danahy will retire as president and CEO of the Greensboro Partnership at the end of 2014. Danahy, former president and CEO of Cone Mills Corp., has led the economic-development group since 2006.