Triad

Reynolds' Vuse available in 100,000 stores

February 13, 2015

(Winston-Salem Journal)

R.J. Reynolds Vapor Co. said its Vuse electronic cigarettes are now available in about 100,000 retail outlets. The Reynolds American subsidiary began national distribution of Vuse in June. Meanwhile, Greensboro-based Lorillard reported declining sales of its blu eCigs branded electronic cigarettes. Sales of blu dropped 27.8% during the fourth quarter of 2014.

Greensboro-based Lorillard reports 16.3% increase in net income

February 12, 2015

(Winston-Salem Journal)

Lorillard reported a 16.3% increase in fourth-quarter net income to $327 million. The Greensboro-based cigarette manufacturer also said sales increased 1.4% to $1.77 billion. Net income for the full year was $1.19 billion, up 0.6% from the previous year.

Whitaker Park developers ask Winston-Salem, Forsyth County for $8M

February 11, 2015

(Winston-Salem Journal)

The nonprofit corporation that plans to redevelop R.J. Reynolds Tobacco's Whitaker Park manufacturing campus has asked Forsyth County and the city of Winston-Salem for $8 million for infrastructure improvements on the 120-acre property. The group is likely to seek additional funding from other sources, including the N.C. Department of Transportation.

ZeekRewards receiver gains permission for class-action suit

February 11, 2015

(Winston-Salem Journal)

A federal judge gave the receiver in the ZeekRewards.com case permission to file a class-action lawsuit against about 9,400 "net winners" who gained at least $1,000 in the Lexington-based Ponzi scheme. Kenneth Bell said he expects to recover as much as $283 million from the net winners. Bell has already recovered more than $342 million and has paid out $147 million to victims. 

ZeekRewards receiver issues second round of claim checks

February 10, 2015

(Winston-Salem Journal)

The receiver in the ZeekRewards.com case mailed out $12.7 million in reimbursement checks to 8,143 claimants on Jan. 31. Kenneth Bell mailed 90,297 checks totaling $134.3 million in September in the first round of distribution checks. Bell says another 75,000 claimants haven't yet completed the required steps to receive a check.

Guilford commissioners mull changes to incentives policy

February 9, 2015

(High Point Enterprise)

Guilford County commissioners are considering a new economic-development incentives policy that would require a business to create at least 50 jobs that pay 100% of the county's average wage. The commissioners will take up the issue at a work session later in the year.

Greenboro-based Cone Health reports increase in excess revenue

February 9, 2015

(Winston-Salem Journal)

Greenboro-based Cone Health reported $19.5 million in excess revenue for the first fiscal quarter, up 88.7%. The health system also reported a 9.2% increase in operating revenue, citing high patient volumes related to the flu.

Cone Health to sell its own health insurance

February 6, 2015

(News & Record, Greensboro)

Greensboro-based Cone Health is developing its own health-insurance plan it hopes will allow it to save money by keeping its patients healthier.

Randolph commissioners OK $4.2M for megasite

February 4, 2015

(News & Record, Greensboro)

Randolph County commissioners voted 4-1 to spend $4.2 million to buy 255 acres of land that will become part of a megasite it hopes will lure an auto manufacturer to the state. 

Thomas Built announces leadership change

February 4, 2015

(Winston-Salem Journal)

Caley Edgerly will become president and CEO of Thomas Built Buses March 1. He has served as vice president of operations since 2012. Current CEO Kelley Platt was appointed general manager of Western Star, a Daimler Trucks sister company. In October, the High Point-based school-bus manufacturer announced an expansion that will add 236 jobs in 2015.

Regulators approve BB&T's purchase of Texas Citibank branches

February 3, 2015

(Winston-Salem Journal)

BB&T received regulatory approval for its proposed acquisition of 41 Citibank branches in Texas and plans to close the deal on March 20. The Winston-Salem-based bank acquired 21 Citibank branches in June 2014 for $36 million. BB&T will become the 12th largest bank in Texas, with 123 branches and $5.3 billion in deposits.

Duke Energy CEO: Coal-ash spill changed company's attitude

February 2, 2015

(News & Record, Greensboro)

Duke Energy CEO Lynn Good said last year's coal-ash spill in the Dan River had a significant impact on the company, leading it to create a separate division focused on ash management. Monday marks the one year anniversary of the spill, which dumped tons of coal ash into the river (cover story, April 2014).
Related: A year after ash spill, open questions about Duke and the Dan

Greensboro gains craft breweries

February 2, 2015

(News & Record, Greensboro)

The craft beer industry in Greensboro and the Triad area is gaining momentum. Several new breweries have opened within the past year or have announced plans to open in 2015.

Hanesbrands reports 177% increase in net income

January 30, 2015

(Winston-Salem Journal)

Hanesbrands reported a 177% increase in net income for the fourth quarter, to $89.4 million compared with $32.3 million a year ago. The Winston-Salem-based company's recent acquisitions of Maidenform Brands and DBApparel bolstered revenue, which was up 18.4% to $1.52 million for the quarter.

Ecolab adding 45 jobs in Greensboro

January 29, 2015

(News & Record, Greensboro)

Ecolab will add invest $10 million and add 45 jobs over three years in its Kay Chemical business in Greensboro. The company makes cleaners for restaurants and convenience stores and employs more than 490 people.

BB&T resolves account-balance issue

January 29, 2015

(Winston-Salem Journal)

BB&T said a glitch that caused its website to display incorrect account balances has been resolved. A spokesman said the issue, which began over the weekend, was not the result of a cybersecurity attack. 

Shareholders approve tobacco merger

January 29, 2015

(Winston-Salem Journal)

Shareholders overwhelmingly approved Reynolds American's proposed $27.4 billion acquisition of rival tobacco company Lorillard. Pending FTC approval, the companies expect the deal to close in the first half of this year.

Shareholders to vote on tobacco merger

January 28, 2015

(The News & Observer, Raleigh)

Shareholders of Reynolds American and Lorillard are scheduled to vote Wednesday on their proposed $25 billion merger. The tobacco companies announced in July plans for Winston-Salem-based Reynolds to acquire Greensboro-based Lorillard and sell some of the companies' brands to Imperial Tobacco Group for $7.1 billion ("Buying a Brand," August 2014).

Eden says rivers 'thriving'

January 28, 2015

(News & Record, Greensboro)

Nearly a year after coal ash spilled into the Dan River from a nearby Duke Energy steam station (cover story, April 2014), officials from Eden say their rivers are "thriving." 

BNC Bancorp reports record profit in fourth quarter

January 27, 2015

(Winston-Salem Journal)

BNC Bancorp, the High Point-based parent of Bank of North Carolina, reported profit of $8.5 million in the fourth quarter, an increase of 160% over the same period a year ago. Net income for the fiscal year rose 81.6% to $29.4 million. BNC will have about $4.9 billion in assets after it completes a pending $101.3 million acquisition of Roanoke, Va.-based Valley Financial Corp.