Triad

Report: Tobacco companies face final FTC review

March 31, 2015

(Winston-Salem Journal)

Reynolds American and Lorillard this week could hold a final meeting with members of the Federal Trade Commission regarding the companies' proposed $27.4 million merger, according to a report in The Wall Street Journal. The tobacco companies said they expect the deal to close by June 30. Shareholders of both companies approved the merger in January.

HondaJet a step closer to final approval

March 30, 2015

(News & Record, Greensboro)

Honda Aircraft has received "provisional type certification" from the Federal Aviation Administration for its HondaJet light aircraft, which it manufactures at Piedmont Triad International Airport ("Ready to Take Off," February 2014). The company says it expects to obtain final certification within the next few months.

Winston-Salem psychiatric hospital seeks to expand

March 26, 2015

(Winston-Salem Journal)

Old Vineyard Behavioral Health Services in Winston-Salem wants to add 60 inpatient psychiatric beds, an expansion that would give it a total of 52 child and adolescent and 104 adult inpatient beds. If approved by state regulators, the 43,000-square-foot expansion will cost $13.8 million.

Salem College halfway to goal in capital campaign

March 26, 2015

(News & Record, Greensboro)

Salem Academy and College in Winston-Salem has raised $30.3 million toward its $60 million goal in a capital campaign.

BB&T joins coalition seeking to change regulation

March 24, 2015

(The Charlotte Observer)

BB&T joined nine other financial institutions in forming a coalition that opposes Dodd-Frank Act requirements for regional banks. The Washington, D.C.-based Regional Bank Coalition argues that regional banks have business models more akin to community banks and shouldn't face the same regulation as the largest U.S. banks.

Guilford commissioners study transition plan for prison farm

March 24, 2015

(The Times-News, Burlington)

Guilford County commissioners will consider a plan that would allow local farmers to lease land and greenhouses at the site of the 806-acre prison farm located in Alamance and Guilford counties. County leaders in 2013 proposed developing the site for advanced manufacturing and data centers (Statewide, March 2015), though that plan has not moved forward, Commissioner Alan Branson said.

BB&T completes acquisition of Texas Citibank branches

March 23, 2015

(Winston-Salem Journal)

BB&T completed its $121.9 million purchase of 41 Citibank branches in Texas, making it the 14th largest bank in the Lone Star State. Most of the branches are in Dallas and Houston. The Winston-Salem-based bank acquired 21 Texas Citibank branches, mostly in the Austin and San Antonio markets, last June.

Winston-Salem's Clinical Ink raises $17 million

March 23, 2015

(Winston-Salem Journal)

Clinical Ink, a Winston-Salem-based clinical-research technology firm, raised $17 million in venture-capital funding and will acquire Boston-based CentrosHealth. Founded in 2006, the company also announced it will partner with pharmaceutical company Novartis, which was drawn to the company's electronic platform for use in clinical trials.

Greensboro's Urban Loop to shape area's development

March 23, 2015

(News & Record, Greensboro)

Greensboro's 44-mile Urban Loop is expected to fuel growth in the city's suburbs and open up land for industry by improving access to Piedmont Triad International Airport.

Plastics company adding 50 jobs in Davidson County

March 20, 2015

(Winston-Salem Journal)

Thomson Plastics will add 50 jobs in Davidson County. The company will acquire a 106,200-square-foot plant previously occupied by Tarheel Plastics and invest $2.5 million in renovations and equipment. Thomson makes plastic casings for motors used in lawn mowers, golf carts and HVAC equipment.

Councill Furniture closing Denton plants

March 19, 2015

(News & Record, Greensboro)

Councill Furniture will close its Davidson County plants, where the company employs about 125 people, at the end of June. The company was recently sold to RHF Investments, and the Denton factories were not included in the transaction.

 

Packaging company adding 100 jobs in High Point

March 18, 2015

(News & Record, Greensboro)

Packrite will invest $8.9 million to expand its High Point plant and will add 100 jobs to its 78. The locally based packaging company was ranked No. 205 on the Inc. magazine's list of the 500 fastest-growing companies in the United States. Packrite makes cardboard and paperboard packaging for a variety of products.

FAA approves engines for HondaJet light aircraft

March 18, 2015

(News & Record, Greensboro)

Honda Aero received certification from the Federal Aviation Administration for the engines it produces for the HondaJet light aircraft. Burlington-based Honda Aero is the sister company of Honda Aircraft, which is building the corporate jets at Piedmont Triad International Airport in Greensboro ("Ready to Take Off," February 2014).

Susquehanna shareholders approve BB&T merger

March 17, 2015

(Winston-Salem Journal)

Shareholders of Lititz, Pa.-based Susquehanna Bancshares approved Friday a proposed merger with BB&T. The $2.5 billion deal, in which Winston-Salem-based BB&T will acquire 245 branches in Pennsylvania, Maryland, New Jersey and West Virginia, is expected to close in the second quarter.

Hanesbrands moves to S&P500

March 17, 2015

(Winston-Salem Journal)

Beginning Friday, Winston-Salem-based Hanesbrands will replace Avon Products on the S&P 500 index. The change from the S&P Midcap 400 was based on the company's market capitalization, which was $13.1 billion as of Monday. The apparel company reported Monday that CEO Richard Noll received a 9.1% salary increase for fiscal 2014.

BB&T cuts pay for CEO, other top executives

March 17, 2015

(The Charlotte Observer)

Compensation fell for BB&T's top executives after the bank's performance for return on common equity fell below what was projected. In a securities filing on Monday, the Winston-Salem-based bank said it lowered the maximum cash bonuses for top executives from 150% to 125% of their base salary. CEO Kelly King's compensation fell 8.2% to $7.2 million.

ZeekRewards receiver works to reimburse victims

March 16, 2015

(Winston-Salem Journal)

Kenneth Bell, the Charlotte-based attorney who is the court-appointed receiver in the ZeekRewards.com case, says the power of the Internet allowed the Lexington-based scheme, in which more than 800,000 people lost money, to expand into 157 countries. Owner Paul Burks' next court appearance is Monday in Charlotte.

Novant might expand in northern Virginia

March 12, 2015

The University of Virginia Health System and Winston-Salem-based Novant Health are talking about forming a regional health system in northern Virginia. The proposed agreement would involve UVA Culpeper Hospital and Novant's Virginia facilities.

Greensboro's Jim Melvin creates foundation to manage megasite

March 11, 2015

(The News & Record, Greensboro)

A foundation has been established to coordinate land purchases for a proposed 1,800-acre Randolph County megasite, which Triad leaders hope will attract an auto manufacturer. Jim Melvin, former Greensboro mayor and president of the Joseph M. Bryan Foundation, incorporated the Greensboro-Randolph Megasite Foundation on Feb. 11.

Forsyth considers $200K for Whitaker Park improvements

March 11, 2015

(Winston-Salem Journal)

Forsyth County commissioners will consider giving $200,000 to Whitaker Park Development Authority for upgrades at a building that would be used as a wet laboratory space for biotech companies. Winston-Salem has already approved $200,000 for the project. A cosmetics-sciences company that would create 56 jobs is considering moving into the space, a county official said.