Triad

Four Oaks Bank to pay penalty over transfers in Ponzi scheme

January 10, 2014

(The Lexington Dispatch)

Four Oaks Bank will pay a $1.2 million penalty for allowing money from those involved in the Zeek Rewards Ponzi scheme to move through it. The small bank made the settlement with the federal government without admitting any wrongdoing or liability; prosecutors said the bank and its holding company failed to adequately investigate customers.  

Greensboro's RF Micro to offer products for in-car Wi-Fi

January 8, 2014

(The Winston-Salem Journal)

Greensboro chip-maker RF Micro Devices says it will begin offering devices that help enable in-car Wi-Fi to support a new automotive trend. The company said several global auto manufacturers including Audi and General Motors have announced plans to include Wi-Fi hotspots in their 2015 models.

High-tech clothing company declines Greensboro incentive

January 7, 2014

(The News & Record, Greensboro)

Gerbing has declined to accept a $150,000 incentive approved by the Greensboro City Council in August to move its business to a downtown property, though the city's attorney says the high-tech clothing company is still interested in moving its headquarters from Stoneville to Greensboro.

Elon University buys more downtown Greensboro property

January 3, 2014

(The News & Record, Greensboro)

Elon University has purchased eight Greensboro properties which complete a square block near its law school. According to a univesity press release, the school has no immediate plans for the properties and will continue to lease them to existing businesses. 

Guilford commissioners to take on challenging issues in 2014

January 2, 2014

(The News & Record, Greensboro)

Property tax reform, schools and the indeterminate economic-development project dubbed Project Haystack will be the biggest political issues for the Guilford County Board of Commissioners in 2014. 

High Point report: Orders for home furnishings up 5.4%

January 2, 2014

(The Winston-Salem Journal)

According to a report from a HIgh Point-based financial services company, orders for home furnishings increased to $1.95 billion in October, 5.4% over the same period a year ago.  

Yadkin Financial's longtime director resigns

December 31, 2013

(The Charlotte Observer)

According to a securities filing, Elkin-based Yadkin Financial Corp.'s director James N. Smoak is leaving the board following a disagreement over growth strategy. Smoak had served on the bank's board since 1987.

Greensboro aviation job fair for students attracts many adults, too

December 31, 2013

(The News & Record, Greensboro)

The Aviation Careers Job Fair, aimed at getting students interested in a career in the aviation industry, drew a surprising amount of adults looking to change jobs or advance their careers in the field. The three-day event, held at the TIMCO Invitational basketball tournament in Greensboro, featured representatives from TIMCO Aviation Services and HondaJet.

Forsyth County turbine manufacturer to shut down

December 30, 2013

(The News & Observer, Raleigh)

According to a WARN notice filed with the N.C. Department of Commerce, Ellwood Advanced Components will close its Forsyth County plant. The Rural Hall turbine manufacturer was purchased in August 2012 by the Ellwood, Pa.-based company, which said it would add 55 workers to the 145 existing at that time and would invest $33 million over five years.

Texas Pete introduces new sriracha hot sauce

December 30, 2013

(The Winston-Salem Journal)

Winston-Salem-based T.W. Garner Food Co. has released a new hot sauce called CHA! by Texas Pete. The new sauce, made with sriracha, a chile-garlic sauce that originated in Thailand, is typically used on Asian foods but is now used by many Americans on eggs, french fries and hamburgers.

Winston-Salem heating/AC company makes another acquisition

December 30, 2013

(The Winston-Salem Journal)

Logan Heating, Air Conditioning and Electrical has acquired Newland-based Avery Heating and Air Conditioning for an undisclosed amount. This is Logan's second acquistion in two years; it bought Angler Electric in 2012.

First HondaJet to be delivered in early 2015

December 23, 2013

(The News & Record, Greensboro)

Honda Aircraft announced Friday it expects to deliver its first HondaJet plane in early 2015 after receiving an authorization from the Federal Aviation Administration that means it is ready to enter its final phase of testing. HondaJet is being built at Piedmont Triad International Airport.

Zeek Rewards auction raises $750,000

December 20, 2013

(The Lexington Dispatch)

An auction of items previously owned by Rex Venture Group, the parent company of Lexington-based Zeek Rewards, including two buildings, furniture and electronic equipment, raised about $750,000. Proceeds will go toward repayments for more than 100,000 people who lost money in the alleged Ponzi scheme

Crisco files campaign paperwork for Congressional bid

December 20, 2013

(The News & Observer, Raleigh)

While he hasn't made a formal announcement regarding his intentions, former Commerce secretary Keith Crisco filed paperwork with the Federal Election Commission for a committee called Crisco for Congress. The Asheboro native would run next year for the 2nd District seat currently held by U.S. Rep. Renee Ellmers.

BB&T to buy 21 Citigroup branches in Texas

December 19, 2013

(The Winston-Salem Journal)

BB&T Corp. will acquire 21 Citigroup branches in Texas for $36 million, a deal which includes all of its locations in San Antonio and Austin. The deal, which is expected to close in the second quarter of 2014, will give BB&T the 20th largest market share in Texas, up from the 38th position.

Bank of North Carolina grows with purchase of two community banks

December 19, 2013

(The Charlotte Observer)

High Point-based BNC Bancorp announced it will acquire the parent company of Home Savings Bank of Albemarle for $23.7 million in a cash and stock deal and the parent company of Chapel Hill-based Harrington Bank for $24.2 million.

Novant Health to build children's hospital in Savannah, GA

December 19, 2013

(The Winston-Salem Journal)

Novant Health will partner with Savannah, Ga.-based Memorial Health to build a $28 million children's hospital. The commitment is an expansion of an operational partnership Winston-Salem-based Novant formed with the academic medical center beginning in August 2012.

Boeing to issue short list of potential plant sites

December 18, 2013

(The News & Record, Greensboro)

Boeing issued a statement saying it will reveal a short list of potential sites for a new $10 billion manufacturing plant for its 777X airplanes this week. The aircraft manufacturer took applications from 22 states offering 54 sites just last week, including three in North Carolina.

FAA approves HondaJet engine

December 17, 2013

(The News & Record, Greensboro)

The Federal Aviation Administration has certified the airworthiness of the GE Honda Aero Engine, which will power Honda Aircraft Co.'s light jets that are being built at Piedmont Triad International Airport. Honda expects to deliver its first HondaJet at the end of 2014.

Targacept reports failed clinical trial for schizophrenia drug

December 17, 2013

(The Winston-Salem Journal)

Targacept, a Winston-Salem-based biopharmaceutical company, announced negative results of a second clinical trial for a drug it was developing to treat symptoms of schizophrenia. Targacept's share price fell 32% in after-hours trading following the announcement Monday.