Triad

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.

NewBridge Bank cuts 5% of workforce in restructuring

April 23, 2014

(Winston-Salem Journal)

NewBridge Bank will eliminate 22 jobs, or 5% of its workforce, as part of a restructuring following the Greensboro bank's acquisition of Raleigh-based CapStone Bank earlier this month and Southport-based Security Savings Bank in October. The cuts are part of a change to the staffing model at the bank's 40 branches; no branch closings were announced.

Koury Corp.'s Showfety to chair Triad Airport Authority

April 23, 2014

(The News & Record, Greensboro)

The president of a Greensboro development and property-management company was named chairman of the Piedmont Triad Airport Authority. Stephen Showfety of Koury Corp. replaces Henry Isaacson, who retired in March after 11 years leading the board.

Charlotte investment firms buys majority stake in Lexington candy-maker

April 23, 2014

(The Charlotte Observer)

Charlotte-based Plexus Capital has bought a majority stake in Lexington-based Piedmont Candy Co., which is famous for its Red Bird peppermint puffs which are sold in grocery and convenience stores. The amount of the investment was not disclosed. The candy company will buy new equipment and expand its product lines.

BB&T posts first quarter profit of $501 million, will raise dividend

April 18, 2014

(Winston-Salem Journal)

BB&T reported a profit of $501 million for the first quarter and will raise its quarterly dividend a penny to 24 cents. CEO Kelly King cited strong insurance revenues and commercial loan growth for the profit increase.

Cameron returns as CEO of Reynolds American

April 17, 2014

(The Charlotte Observer)

Reynolds American has named board member Susan Cameron chief executive officer effective May 1. She previously served as CEO of the Winston-Salem-based tobacco company from 2004 to 2011 before she retired. Cameron will replace Daniel Delen who is retiring.

Greensboro's Forest Oaks club to reopen with new management

April 17, 2014

(The News & Record, Greensboro)

Forest Oaks Country Club in Greensboro will reopen under new management Thursday. The private club was closed on Tuesday after management company ES2 Sports & Leisure declared bankruptcy. A majority shareholder has enlisted a Florida-based company to manage the club.

RF Micro, TriQuint reveal consolidation plans

April 16, 2014

(Winston-Salem Journal)

The new company formed when Greensboro-based RF Micro Devices acquires Hillsboro, Ore.-based TriQuint Semiconductor will be called Rocky Holding Inc., and the two companies will operate as subsidiaries with dual headquarters. RF Micro CEO Robert Bruggeworth will serve as president and chief executive. Pending shareholder and regulatory approval, the $1.56 billion deal is expected to close in the second half of the year.

Hanes plant in Winston-Salem being demolished; mixed-use project to take its place

April 16, 2014

(Winston Salem-Journal)

Demolition is nearly complete on the 550,000-square-foot Winston-Salem Hanes plant that has been shuttered since 2007. The 26.5-acre tract will become Hanestowne Village, a mixed-use development that will include restaurants, retail and medical offices (Regional Report, January 2014). The first phase of the new project is expected to be complete by year-end.