Triad
Former Southern Community leaders sue bank's purchaser
April 30, 2013
(Winston-Salem Journal)
Two former Southern Community Banking Corp. executives are suing Capitol Bank Financial Corp, which purchased the bank last year, for breach of contract after they were fired and not given $4 million in payments they say they were due. They also accused the two banks of colluding during negotiations.
Randolph County targets 200 acres for development
April 30, 2013
(News & Record, Greensboro)
Randolph County is partnering with Charlotte-based Duke Energy to examine what type of industries could possibly choose 200 acres north of Asheboro for development.
Herbalife to start work on Winston-Salem plant
April 29, 2013
(News & Record, Greensboro)
Supplements maker Herbalife is expected to start converting the former Dell plant in Winston-Salem for its specifications in June after hiring the Raleigh office of Kansas City-based CRB Builders LLC as general contractor.
Yadkin Valley reports higher net income
April 26, 2013
(Winston-Salem Journal)
Elkin-based Yadkin Valley Financial reported that first-quarter net income rose 58% to $4.2 million compared to the year before after it took a large fourth-quarter hit to shore up its loan-loss reserves. The company also announced it will change its name next month to Yadkin Financial and unify several bank brand names.
Duke to study High Point Market's economic impact
April 25, 2013
(Winston-Salem Journal)
The High Point Market Authority awarded a $50,000 contract to Duke University to study its economic impact. The last analysis, conducted several years ago, pegged economic impact at $1.5 billion annually.
Linwood Furniture liquidation moving forward
April 24, 2013
(Winston-Salem Journal)
Linwood Furniture's liquidation will go forward at the end of the month with an auction to sell its inventory and machinery.
Reynolds American first-quarter income rises
April 24, 2013
(Winston-Salem Journal)
Winston-Salem-based Reynolds American posted a 9.3% increase in first-quarter profit as it gained market share and cut expenses.
Burlington developer plans Greensboro apartments
April 24, 2013
(News & Record, Greensboro)
Burlington developer Tom Holderby has proposed a 360-unit apartment complex for south Greensboro. He has already built about 900 apartments between the Triad and South Carolina.
High Point Market opens amid optimism
April 23, 2013
(Winston-Salem Journal)
The spring High Point Market opened Monday amid optimism as home sales have improved this spring in many parts of the country, boding well for furniture sales.
Guilford County reviewing solar-farm policies
April 22, 2013
(The High Point Enterprise)
Guilford County commissioners want to examine their policies about approving solar farms on agricultural land because they say current zoning rules aren't relevant in many situations.
Winston-Salem credit union's leadership to change
April 22, 2013
(Winston-Salem Journal)
Ike Keener, the longtime CEO of Allegacy Federal Credit Union in Winston-Salem, will retire at the end of the month, and Cathy Pace, president of its credit union division, will take over.
Targacept wants changes to executive-compensation plan
April 19, 2013
(Winston-Salem Journal)
Winston-Salem-based drug developer Targacept wants to change its executive-compensation program to alter its pricing policy for stock options. The company has struggled because of poor clinical-trial results for its leading prospects.
BB&T's first-quarter profit drops
April 19, 2013
(The Charlotte Observer)
Winston-Salem-based BB&T's first-quarter earnings fell nearly 35% to $210 million as it took a charge related to a tax dispute with the IRS.
International buyer may be interested in purchasing Renegade companies
April 18, 2013
(Winston-Salem Journal)
A Paris tobacco manufacturer is interested in purchasing three Mocksville companies -- Renegade Holdings Inc., Renegade Tobacco Co. and Alternative Brands Inc. -- as long as they emerge from Chapter 11 bankruptcy.
BNC Bancorp plans for CEO transition
April 15, 2013
(Winston-Salem Journal)
High Point-based BNC Bancorp announced CEO Swope Montgomery will retire June 11, and Chief Operating Officer Richard Callicutt II will take over. Montgomery will remain vice chairman of the board.
Foothills Brewing expanding production
April 15, 2013
(Winston-Salem Journal)
Winston-Salem-based Foothills Brewing has bought new equipment that it expects will let it increase production by 72% and expand in the Southeast. The company wants to expand in North Carolina, Virginia and Tennessee.
Unemployment rate a mixed bag for Triad
April 11, 2013
(Winston-Salem Journal)
Metro Winston-Salem was just one of two metros in the state to lose jobs in February, though its unemployment rate fell to 8.8% as people dropped out of the labor force.
Ashley Furniture expansion ready to start
April 10, 2013
(Winston-Salem Journal)
A temporary permit issued by the Army Corps of Engineers means Ashley Furniture Industries can go ahead with plans for a Davie County distribution plant. The project was delayed for months because of discovery of wetlands on the property and has cost the company planned revenue.
Study: Novant Health has $1.4B economic impact
April 10, 2013
(Winston-Salem Journal)
Winston-Salem-based Novant Health had a $1.4 billion economic impact on the Triad and a $3.2 billion impact on the state, according to a study by the health-care provider.
Amtrak's Piedmont ridership rises
April 10, 2013
(News & Record, Greensboro)
Amtrak's ridership rose 8.6% in the Piedmont during the first six months of the fiscal year that ended in March.
