Triad

Steelcase to close High Point plant, idle 230 workers

May 7, 2014

(High Point Enterprise)

Steelcase will close its plant in High Point, laying off 230 workers in stages over the next two years. The Grand Rapids, Mich.-based company is one of the world's largest office-furniture manufacturers. The plant closing is part of a companywide plan to reduce manufacturing capacity and cut costs.

B/E Aerospace considers sale, other options

May 6, 2014

(Winston-Salem Journal)

One of Forsyth County's largest employers is exploring options which include a possible merger or spin-off of part of the company. Wellington, Fla.-based B/E Aerospace, which employs more than 1,300 in Winston-Salem, posted record profits in 2013. The company makes interior products including seating for commercial aircraft. Shares rose 9.3% Monday, closing at $97.22, following the announcement.

North State Aviation continues expansion in Winston-Salem

May 6, 2014

(Winston-Salem Journal)

North State Aviation is adding 60,000 square feet to its operations at Smith Reynolds Airport. The expansion will give the aircraft-maintenance company a total of more than 300,000 square feet. The Winston-Salem-based company employs 290 workers and is continuing to hire. North State signed a contract with United Airlines, its largest customer, in October that was to create 60 new jobs.

NC Zoo seeks $60 million for repairs, new attractions

May 5, 2014

(Winston-Salem Journal)

Leaders of the North Carolina Zoo say it needs $60 million over the next 10 years to address maintenance issues and add attractions to keep the Asheboro park competitive with other national zoos. The funds would come from $40 million in state bond funds and $20 million in private donations.

Textile company to hire 84 at Eden plant

May 5, 2014

(The News & Record, Greensboro)

India-based Shri Govindaraja Textiles plans to invest more than $40 million and create 84 jobs over two years at a cotton-yarn manufacturing plant in Rockingham County. The company will open within four to six months in a building previously owned by rug-maker Karastan.

Wake Forest Baptist cutting 350 positions

May 2, 2014

(Winston-Salem Journal)

Wake Forest Baptist Medical Center will lay off 350 employees of its total workforce of 14,686 as part of a cost restructuring. The cuts were not unexpected, as expenses have increased while Medicaid reimbursements have declined at the Winston-Salem-based medical center. 

Greensboro to host National Folk Festival in 2015

May 2, 2014

(The News & Record, Greensboro)

Greensboro will host the National Folk Festival from 2015 to 2017. The annual three-day, music, dance and crafts event is expected to attract thousands of people and millions of dollars in visitor spending. It will be the first time North Carolina hosts the festival, which began in 1934 in St. Louis and will celebrate its 75th anniversary in Greensboro.

Winston-Salem brewery expanding again

May 2, 2014

(Winston-Salem Journal)

Winston-Salem-based Foothills Brewing Company will expand production for the second time since April 2013. The brewery will purchase new equipment including four fermentation tanks that will increase production capacity by about 55%. The company employs 115 people and hopes to add more as demand for its products, which include Carolina Blonde and Sexual Chocolate, increases.

Speculation growing again about potential Reynolds-Lorillard deal

May 1, 2014

(Winston-Salem Journal)

An analyst from Wells Fargo Securities said this week a potential Reynolds American aquisiton of rival Lorillard could be just "around the corner." Bonnie Herzog said she believes CEO Susan Cameron was coaxed out of retirement to bring the Winston-Salem based tobacco company to a new level of growth.

Colin Powell's HPU commencement address drawing national attention

May 1, 2014

(High Point Enterprise)

Former Secretary of State Colin Powell will speak at High Point University's commencement ceremony on Saturday. CNN ranked Powell's address fifth in the country among "2014 Big-Name College Commencement Speakers," and ABC News will stream the speech live on its website. The ceremony will not be open to the public.

Bidding wars taking place in Greensboro real-estate market

May 1, 2014

(The News & Record, Greensboro)

Bidding wars are breaking out in the Guilford County housing market, where the average price of a home has grown from $153,000 in the first quarter of 2011 to $171,000 during the same period of 2014, an increase of almost 12%. 

BB&T's King says bank on track to top record 2013 profit

April 30, 2014

(Winston-Salem Journal)

BB&T CEO Kelly King told shareholders Tuesday the bank's 2013 fiscal performance was "potentially the best" in his 42-year career despite economic and regulatory challenges. The Winston-Salem bank increased its quarterly dividend to 24 cents, up a penny from the previous dividend.

RFMD posts smaller loss in first quarter

April 30, 2014

(The News & Record, Greensboro)

RF Micro Devices posted revenue of $257 million with a net loss of about $1 million for the first quarter, compared with a $16 million loss for the same period last year. The Greensboro-based microchip-maker plans to merge with Hillsboro, Ore.-based TriQuint Semiconductor in the second half of the year.

Zweng named chief medical officer of Novant Health

April 30, 2014

(Winston-Salem Journal)

Novant Health named Tom Zweng chief medical officer effective immediately. He replaces Stephen Wallenhaupt, who will move to a part-time position after holding the position for seven years. Zweng has worked at Novant for more than 20 years, most recently as senior vice president of medical affairs for the Winston-Salem-based company's greater Charlotte market. 

Ralph Lauren expanding again in High Point

April 29, 2014

(High Point Enterprise)

Ralph Lauren Corp. will open an 843,000-square-foot office and distribution center in High Point, according to documents filed in Forsyth County. Though the number of jobs the project will create is unknown, the size of the development, which should be completed by September 2015, indicates it could accomodate hundreds of workers. The apparel and home-goods manufacturer employs about 2,300 at five locations in High Point.

Wake Forest Baptist names Brown president of Davie Medical Center

April 29, 2014

(Winston-Salem Journal)

Chad Brown will become president of Wake Forest Baptist Health-Davie Medical Center June 2. Brown comes from Duke LifePoint–Person Memorial Hospital in Roxboro where he was CEO. Davie Medical Center includes two campuses, including a new Bermuda Run medical center on 88 acres and its original Mocksville location.

Ballpark prompts development in downtown Greensboro

April 28, 2014

(The News & Record, Greensboro)

NewBridge Bank Park, opened in downtown Greensboro in 2005, may not be bringing back the thousands of Triad jobs lost when the textile industry sent manufacturing jobs overseas, but it has helped attract development to the area and establish a new identity for the city.

Outdoor-recreation companies along Dan River afraid stigma will affect business

April 28, 2014

(The News & Record, Greensboro)

River outfitters and others who make a living through kayaking, fishing and other recreational activities along the Dan River –even those far upstream from the coal-ash spill at Duke Energy's plant in Eden– are worried the association of the river with the coal-ash spill will hurt business, which begins officially on Thursday and runs through September.

Greensboro's VF Corp reports 10% increase in first quarter profit

April 28, 2014

(The Winston-Salem Journal)

Greensboro-based VF Corp. reported first quarter net income of $292.2 million compared with $270.4 million a year ago. Outdoor and sports apparel sales exceeded expectations for the quarter and international sales increased 11%, while jeanswear sales were down.

Old Dominion continues revenue growth with record first quarter

April 25, 2014

(Winston-Salem Journal)

Old Dominion Freight Line reported a 13.2% increase in its first quarter net income, to $45.9 million from $40.5 million a year ago. The Thomasville-based trucking company also reported a 15.2% revenue increase despite severe winter weather in some markets.