Business

Loan on Wilmington's Independence Mall in default

October 9, 2014

(Greater Wilmington Business Journal)

Fitch Ratings reported that the owner of Wilmington's Independence Mall has defaulted on a $110 million loan. The 1-million-square-foot mall was built in 1979 and is 86% occupied, according to a recent report. 

Raleigh-based Red Hat completes $700 million offering

October 9, 2014

(The News & Observer, Raleigh)

Red Hat completed a previously announced sale of $700 million worth of senior convertible notes and plans to use $375 million of the proceeds to repurchase shares of its common stock. The Raleigh-based software company will use another $257 million for general corporate purposes that could include future acquisitions.

Aramark opens healthcare training and technology center in Charlotte

October 9, 2014

(The Charlotte Observer)

Philadelphia-based Aramark opened a Technology & Innovation Center in the same business park as its existing operations near uptown Charlotte. The 105,000-square-foot space will be used as a training center for the company's biomedical technicians and engineers and to test medical equipment before it is distributed to hospitals and health-care systems.

Industry leaders convene at Wilmington energy summit

October 9, 2014

(The News & Observer, Raleigh)

Gov. Pat McCrory will be a keynote speaker at the Coastal Energy Summit today at the Wilmington Convention Center. Representatives from Duke Energy, GE Hitachi Nuclear Energy, Strata Solar and the Southeastern Coastal Wind Coalition are among the scheduled speakers for the sold-out event.

Wilmington Beer Week kicks off Saturday

October 9, 2014

(Greater Wilmington Business Journal)

More than 30 events are scheduled for the second annual Wilmington Beer Week, which kicks off Saturday, October 11. Beer dinners, tastings, a pet adoption event and a "Detox to Retox" yoga session are planned. 

NC Bankers Association names new president

October 8, 2014

(The News & Observer, Raleigh)

The N.C. Bankers Association named Peter Gwaltney president and CEO effective Jan. 2. Gwaltney, 51, has been CEO of a Memphis, Tenn.-based foundation for the past seven years and was chief executive of the Louisiana Bankers Association from 1999 to 2006. He replaces Thad Woodard, who has led the Raleigh-based trade group since 1997 and is retiring (Statewide, June).

British tire company plans Davie retreading plant

October 8, 2014

(Winston-Salem Journal)

Dunlop Aircraft Tyres plans to open a 108,000-square-foot plant and create at least 40 jobs in Davie County by early 2016. The Birmingham, England-based company, which retreads tires used on aircraft, would invest $8.2 million in equipment and building upgrades. Davie County and the town of Mocksville approved an incentive package totaling about $212,000.

Columbus County awards $1.8M to get railroad running again

October 8, 2014

(The Fayetteville Observer)

The Columbus County Board of Commissioners approved $1.8 million in incentives for an unnamed buyer who plans to restore the Carolina Southern Railroad, which has been idle for three years. Horry County, S.C. is considering an identical tax incentive.

State SAT scores up slightly, still below US average

October 8, 2014

(The News & Observer, Raleigh)

Average SAT scores for public high school seniors were up 2 points over last year, but the scores were still below the national average. Combined average score for North Carolina public school students was 1468, compared with the national average of 1471. Chapel Hill-Carrboro schools had the highest average in the Triangle region at 1753. 
Related: Average SAT score edges up in Charlotte-Mecklenburg Schools

Wal-Mart cuts health benefits for 30,000 part-time workers

October 8, 2014

(The Charlotte Observer)

Wal-Mart Stores will no longer offer health insurance to about 30,000 employees who work less than 30 hours a week and plans to increase premiums and out-of-pocket costs for all workers participating in its health plans. The Bentonville, Ark.-based retailer has ranked at the top of Business North Carolina's annual list of largest private-sector employers since 2002 (cover story, February 2013).