Triad

Volvo subsidiary opens Davie County plant

May 29, 2015

(Winston-Salem Journal)

Dex Heavy Duty Parts, a subsidiary of the Volvo Group, held a ribbon-cutting ceremony at its Advance plant where the company recycles heavy truck parts. The company employs 38 full-time workers.

Reynolds-Lorillard merger gains FTC approval

May 27, 2015

(Winston-Salem Journal)

The Federal Trade Commission has approved the $27 million deal in which Reynolds American would acquire rival cigarette-maker Lorillard. The companies are still awaiting federal approval to sell five brands to Imperial Tobacco Group for $7.1 billion.

Yadkin County looks for state help to re-open shuttered hospital

May 27, 2015

(Winston-Salem Journal)

Yadkin County commissioners are seeking state help in reopening Yadkin Valley Community Hospital, which closed abruptly Friday. The county and HMC/CAH Consolidated, which operates the 20-bed hospital, failed to negotiate a lease extension.

Wake Forest Baptist reports strong 3Q results

May 26, 2015

(Winston-Salem Journal)

Wake Forest Baptist Medical Center reported excess revenue – the same as profit for a non-profit organization – of $38.1 million in the third quarter, compared with a loss of $97.6 million a year ago. The hospital said flu-related admissions helped drive revenue growth during the quarter, which ended March 31. Bad debt fell by 45.2%.

Mohawk to expand, add 105 jobs in Rockingham County

May 22, 2015

(Winston-Salem Journal)

Carpet and rug manufacturer Mohawk Industries plans to invest $8 million over five years in an expansion of its Eden operations. The company employs about 1,200 people across the state, including more than 170 in Eden.

Ashley Furniture adding up to 300 jobs in Davie County

May 21, 2015

(Winston-Salem Journal)

Citing increased product demand, Ashley Furniture Industries plans to expand its manufacturing and distribution center in Advance and will hire up to 300 employees. The furniture company currently employs about 900 at the center.

Procter & Gamble to increase production in Guilford County

May 21, 2015

(News & Record, Greensboro)

Procter & Gamble will close a factory in Puerto Rico, shifting production to its Browns Summit plant. The company said 230 jobs will be cut in Puerto Rico, but that doesn't mean it will add as many jobs at the Guilford County plant, where it currently employs about 1,000 people and makes products including deodorant and toothpaste.

Greenboro OKs engineering study for megasite

May 21, 2015

(News & Record, Greensboro)

Greensboro City Council approved a $2.3 million engineering contract to study adding water and sewer service at the Greensboro-Randolph Megasite.

Novant Health reports decline in operating income

May 20, 2015

(Winston-Salem Journal)

Winston-Salem-based health-care system Novant Health reported $19.7 million in operating income at the start of fiscal 2015, down 1.1% from a year ago.

Heritage Home seeking new CEO

May 19, 2015

(Winston-Salem Journal)

Heritage Home Group named Richard Lozyniak interim CEO, replacing Ira Glazer, who held the position for 18 months. Lozyniak also will become a director and will assist with the search for a permanent CEO at the High Point-based furniture company.

Judge asks for November trial in ZeekRewards case

May 19, 2015

(Winston-Salem Journal)

U.S. attorney Jill Rose is requesting the trial of ZeekRewards founder Paul Burks begin in November. Burks was indicted in October on charges related to the Lexington-based Ponzi scheme that raised $850 million from at least 2.2 million customers. Burks' hearing has been delayed four times.

What top Triad executives earned in 2014

May 18, 2015

(Winston-Salem Journal)

An analysis of the 10 highest-paid executives of companies with a major presence in the Triad shows each received at least $10 million in total compensation in 2014, though base salaries weren't the largest part of their pay packages.

Wake Forest Innovation Quarter fuels growth in downtown Winston-Salem

May 18, 2015

(Winston-Salem Journal)

Originally conceived as a research park in downtown Winston-Salem in the early 1990s, Wake Forest Innovation Quarter has evolved but is still a work in progress. The innovation district, which is anchored by Inmar, Wake Forest Baptist Medical Center and a Wells Fargo data center, has 85 acres of developed land with 60 acres to be developed.

Randolph megasite taking shape

May 14, 2015

(News & Record, Greensboro)

Triad leaders hope a site of up to 1,800 acres will compete with other megasites in Chatham and Edgecombe counties. On June 1, Randolph County commissioners will consider spending $5.87 million to purchase 170 acres of land. The county paid $4.2 million for 255 acres earlier this year.

Novant seeks proposals for Louisburg hospital

May 12, 2015

(Winston-Salem Journal)

Novant Health is exiting the Triangle market with plans to sell Franklin Medical Center in Louisburg. The Winston-Salem-based hospital system announced in October it was reducing the number of inpatient beds at the hospital from 83 to 15.

Herbalife incentives still up in the air

May 12, 2015

(Winston-Salem Journal)

Some members of the Winston-Salem City Council were unimpressed with an Herbalife report showing 30 of its 75 local managers are members of a racial minority because only five are black. The Los Angeles-based company is seeking incentives to bring another 300 jobs to Winston-Salem.

Wells Fargo cuts ownership stake in Krispy Kreme

May 12, 2015

(Winston-Salem Journal)

Wells Fargo has cut its stake in Winston-Salem-based Krispy Kreme Doughnuts and is now the company's No. 4 institutional investor, down from No. 2. The San Francisco-based bank said in a regulatory filing Monday it cut its shares from 5.19 million to 2.62 million, or 4.04%.

Randolph wants to buy more land for megasite

May 11, 2015

(News & Record, Greensboro)

Randolph County commissioners will hold a public hearing June 1 to discuss plans to purchase a second parcel of land for a megasite it hopes will attract an automaker. The county has acquired 255 acres of a proposed 1,800-acre site.

Bank of the Carolinas to be acquired for $64M

May 8, 2015

(Winston-Salem Journal)

Mocksville-based Bank of the Carolinas will be sold to Bank of the Ozarks for $64.7 million in stock. The Little Rock, Ark.-based bank will increase its N.C. deposits from $596.2 million to $963.7 million, giving it the No. 19 market share in the state.

Davie approves incentives for manufacturer to add 50 jobs

May 6, 2015

(Winston-Salem Journal)

Davie County commissioners approved nearly $800,000 in incentives for Avgol to expand its Mocksville manufacturing plant. The company plans to add 50 jobs to its existing 220 and will add 100,000 square feet. The Israel-based company makes nonwoven materials for baby diapers and other products.