Triad

Former Lorillard CEO to lead integration of tobacco companies

July 18, 2014

(News & Record, Greensboro)

Former Lorillard CEO Martin Orlowsky was named executive chairman designate of United Kingdom-based Imperial Tobacco, which plans to take over Lorillard's Greensboro manufacturing operations. Orlowsky was CEO of the Greensboro-based tobacco company from 1999 until his retirement in 2010.

Greensboro developer reveals details of $50 million downtown project

July 18, 2014

(News & Record, Greensboro)

Roy Carroll, founder and CEO of The Carroll Cos., revealed plans Wednesday for a 4-acre, $50 million mixed-use project in downtown Greensboro that will include a 100-room hotel and 300 apartments. 

Bank of the Carolinas raises $45.8 million

July 17, 2014

(Winston-Salem Journal)

Bank of the Carolinas Corp. has raised $45.8 million in private-equity funding through a discounted stock offering of 10 cents a share. The Mocksville-based bank plans to use $34.8 million of the proceeds as a capital infusion for its bank subsidiary. 

Tobacco merger 'best possible outcome' for Triad

July 16, 2014

(Winston-Salem Journal)

Reynolds American CEO Susan Cameron says there should be no job cuts in Forsyth County related to the tobacco company's $27.4 billion acquisition of Greensboro-based Lorillard. Gayle Anderson, president of the Winston-Salem Chamber of Commerce, said the deal, expected to close in the first half of 2015, is "the best possible outcome for the Triad," with regards to preserving tobacco-industry presence in Winston-Salem and Greensboro.

Heart disease cause of Crisco's death

July 16, 2014

(The News & Observer, Raleigh) 

Former N.C. Commerce Secretary Keith Crisco died of heart disease and high blood pressure, according to an autopsy released Tuesday. Crisco, 71, collapsed at his Asheboro home on May 12.

Stanley Furniture reports $19.1 million loss in second quarter

July 16, 2014

(Winston-Salem Journal)

High Point-based Stanley Furniture Industries reported a second quarter loss of $19.1 million, compared with a $3.5 million loss a year ago. The company said it took a $16.2 million restructuring charge related to closing its Robbinsville plant (Regional Report, May) which ended its domestic production.

Imperial Tobacco hopes to revive Winston brand

July 16, 2014

(News & Record, Greensboro)

Imperial Tobacco Group said it plans to make Winston brand cigarettes the face of its U.S. marketing strategy and will distribute blu eCigs, the top-selling U.S. electronic cigarette brand, worldwide. 

Walker defeats Berger in 6th District GOP primary

July 16, 2014

(News & Record, Greensboro)

Mark Walker defeated Phil Berger Jr. in a runoff election of the Republican primary for the 6th Congressional District on Tuesday. Unofficial returns show Walker earned 60% of the vote, despite Berger's deep political connections in North Carolina.

Reynolds American to buy Lorillard for $27.4 billion

July 15, 2014

(Winston-Salem Journal)

Winston-Salem-based Reynolds American has agreed to purchase Greensboro-based Lorillard for $27.4 billion. As part of the deal, United Kingdom-based Imperial Tobacco Group will buy selected brands including blu eCigs and will acquire Lorillard's Greensboro manufacturing operations where the tobacco company employs 2,900.

Experts weigh in on potential tobacco merger

July 15, 2014

(Winston-Salem Journal)

A potential acquisition of Greensboro-based Lorillard by Winston-Salem-based Reynolds American could lead to hundreds of job cuts as the combined company would look to achieve cost savings of up to $900 million, according to one analyst.

Reynolds, Lorillard confirm merger talks

July 14, 2014

(Winston-Salem Journal)

After months of speculation, Reynolds American and Lorillard confirmed they are negotiating a potential acquisition of Lorillard by Reynolds. U.K.-based Imperial Tobacco Group also is in talks with the companies to buy some of their non-growth brands.

Davie, Yadkin residents organize against fracking

July 14, 2014

(Winston-Salem Journal)

A grassroots effort against fracking for natural gas is underway in Davie and Yadkin counties after state Sen. Andrew Brock proposed an amendment to the state Senate's budget proposal that would provide funds for test drilling in the Davie County shale basin.

 

New music venue coming to Greensboro

July 11, 2014

(News & Record, Greensboro)

A concert venue affiliated with House of Blues Entertainment and Live Nation will open in Greensboro in November.  The name of the club, which will accommodate up to 850 guests, has not been announced.  

Imperial Tobacco in talks with Triad tobacco companies

July 11, 2014

(Winston-Salem Journal)

U.K.-based Imperial Tobacco Group says it is in talks with Winston-Salem-based Reynolds American and Greensboro-based Lorillard to acquire some of their brands and assets. 

Report fuels rumor of BAC buyout of Reynolds American

July 10, 2014

(Winston-Salem Journal)

A British media outlet reported Wednesday that British American Tobacco could spend up to $75 a share, or $23.3 billion, to buy all of the remaining shares of Reynolds American stock it doesn't own.

Herbalife plant readies for production

July 9, 2014

(Winston-Salem Journal)

Herbalife will hold a job fair at its Winston-Salem plant as the vitamin-maker prepares to begin production. A company spokesman says it has already hired more than 290 of 493 employees the company committed to hire by the end of 2015 at the $130 million plant.

Publix to open Winston-Salem store by end of 2015

July 9, 2014

(Winston-Salem Journal)

Publix Super Markets plans to open a grocery store in Winston-Salem by the end of 2015, according to a company spokeswoman. The Lakeland, Fla.-based grocery store chain currently has two stores in North Carolina, both in the Charlotte area.

Dunkin' Donuts opening five Greensboro shops

July 9, 2014

(News & Record, Greensboro)

Dunkin' Donuts will open five stores in Greensboro as part of the Canton, Mass.-based company's plan to double its number of U.S. stores. The doughnut-maker has more than 300 restaurants in North Carolina.

German yarn-maker to open Mount Airy distribution center

July 8, 2014

(Winston-Salem Journal)

Südwolle Group will open an 18,000-square-foot distribution center in Mount Airy. The Nuremberg, Germany-based company makes wool yarns, including those for legwear and outdoor apparel. The company did not say how many jobs it will create, but will release more details later this month.

Section of High Point's Montlieu Ave. to close for HPU expansion

July 7, 2014

(High Point Enterprise)

A half-mile section of Montlieu Ave. in High Point will close to through traffic July 30 and will become an entrance for High Point University's new pharmacy and health sciences schools. School officials said earlier this year they would consider locating the schools outside of High Point if the city couldn't help accommodate the expansion.