Triad

Cone Health cuts Medicare readmissions

September 18, 2014

(News & Record, Greensboro)

Readmissions of Medicare patients have fallen at Cone Health, saving the Greensboro-based hospital system $21 million over 18 months. The Affordable Care Act began in 2012 requiring hospitals to cut Medicare readmissions or pay a penalty.

Tobacco farmers face end of buyout program

September 17, 2014

(The News & Observer, Raleigh)

The last checks from the tobacco buyout program will be distributed to about 425,000 farmers and landowners in October. Though many tobacco growers have gotten out of the business, those who remain are thriving due in part to a strong export market.

Judge approves bankruptcy plan for Mocksville tobacco companies

September 15, 2014

(Winston-Salem Journal)

A U.S. Bankruptcy Court judge approved a liquidation plan for three Mocksville tobacco companies. Renegade Holdings Inc., Renegade Tobacco Co. and Alternative Brands Inc. entered bankruptcy protection in January 2009. Former owner Calvin Phelps began serving a three-year prison term in May after pleading guilty to charges related to avoiding federal surcharges on cigarette sales. 

Florida court throws out hundreds of tobacco lawsuits

September 12, 2014

(Winston-Salem Journal)

A Florida appeals court has thrown out 750 Engle lawsuits against U.S. tobacco companies, nearly 10% of the the 8,000 cases pending in Florida courts. The Engle cases originated from a 2006 class-action lawsuit that was decertified, allowing for class members to file individual lawsuits for cigarette-related illnesses.

Wilmington's Atlantic Corp. to buy Greensboro paperboard plant

September 11, 2014

(News & Record, Greensboro)

Memphis, Tenn.-based International Paper will sell its Greensboro paper- and packaging-plant, along with locations in Hazelton, Pa. and Sturgis, Mich., to Wilmington-based Atlantic Corp. The deal is expected to close in the fourth quarter.

Third executive named in ZeekRewards case

September 11, 2014

(Winston-Salem Journal)

The receiver in the ZeekRewards.com case will seek to recover $2.27 million from Darryle Douglas of Huntington Beach, Calif. Douglas received the money from the Lexington-based Ponzi scheme, which was shut down in 2012.

High Point mayor resigns, pleads guilty to worthless check charge

September 11, 2014

(News & Record, Greensboro)

High Point Mayor Bernita Sims resigned Wednesday and pleaded guilty to a felony charge of writing a worthless check. A Guilford County Superior Court judge sentenced Sims to six months house arrest and 4 and a half years of supervised probation.

Krispy Kreme reports lower 2Q earnings

September 10, 2014

(Winston-Salem Journal)

Krispy Kreme Doughnuts fells short of analysts' earnings projections in the second quarter, despite a 7% increase in sales to $120.5 million.

BB&T buying The Bank of Kentucky for $363 million

September 9, 2014

(Winston-Salem Journal)

BB&T Corp. will acquire The Bank of Kentucky for $363 million in a cash and stock transaction. Crestview Hills-based Bank of Kentucky has $1.9 billion in assets and 32 branches in northern Kentucky and Cincinnati. Winston-Salem-based BB&T, which operates 82 branches in Kentucky, will move from fourth to second place in market share in the state.

Reynolds American calls for ban on vapor e-cigarettes

September 8, 2014

(Winston-Salem Journal)

Reynolds American wants the Food and Drug Administration to ban the use of vapor electronic cigarettes, which the company says are subject to tampering and offer fruit and candy flavors which appeal to youth and children. 

 

Shareholders approve RF Micro-TriQuint merger

September 8, 2014

(News & Record, Greensboro)

Shareholders approved Greensboro-based RF Micro's planned $1.5 billion acquisition of Hillsboro, Ore.-based TriQuint Semiconductor. The deal is expected to close by year-end.

Inmar acquires Canadian coupon company

September 5, 2014

(Winston-Salem Journal)

Winston-Salem-based Inmar has bought Canada-based Millennium Process Coupon. Inmar provides inventory management and coupon clearing for retailers and manufacturers and employs more than 920 people. Terms of the deal weren't disclosed.

Reynolds subsidiary to launch nicotine gum

September 5, 2014

(Winston-Salem Journal)

A Reynolds American subsidiary is planning a national rollout of a nicotine replacement therapy gum. Zonnic will be sold in convenience stores and gas stations, where most people buy tobacco products. GlaxoSmithKline's Nicorette currently claims 43% of the market share of NRT products.

Wake Forest Baptist receives $18 million cancer-research grant

September 5, 2014

(Winston-Salem Journal)

Wake Forest Baptist Medical Center received an $18 million grant from the National Cancer Institute to develop cancer screening and prevention programs and conduct controlled clinical trials.

BB&T to acquire 41 more Citibank stores in Texas

September 4, 2014

(Winston-Salem Journal)

BB&T Corp. will purchase 41 Texas Citibank branches representing $2.3 billion in deposits for an undisclosed amount. The Winston-Salem-based bank bought 21 Texas branches from New York-based Citigroup in June. The deal, expected to close in the first quarter, will give BB&T 123 branches in Texas.

Randolph megasite group could form independent authority

September 4, 2014

(News & Record, Greensboro)

A group of businesspeople that has been accumulating land for a megasite in Randolph County could form an authority to try to recruit a large auto manufacturer. The group is comprised of members of the Piedmont Triad Partnership, though the nonprofit economic-development group doesn't have authority to grant land to a prospective company.

Hanesbrands completes purchase of European apparel company

September 4, 2014

(Winston-Salem Journal)

Hanesbrands Inc. completed a previously announced $528 million acquisition of Paris-based underwear and intimate-apparel manufacturer DBApparel on Friday. It's the second huge deal in less than a year for the Winston-Salem company, which paid $585 million for Iselin, N.J.-based Maidenform Brands Inc. in October.

Consultant says NC must pass incentives soon to attract auto-maker

September 3, 2014

(News & Record, Greensboro)

A site-selection consultant says North Carolina must expand its incentive program if it wants to recruit a major auto manufacturer to the state. Gov. Pat McCrory said Tuesday he is considering reconvening the General Assembly to discuss economic-development issues.

Report shows $28.9 million loss for Wake Forest Baptist

September 3, 2014

(Winston-Salem Journal)

An unaudited report shows Wake Forest Baptist Medical Center posted an operating loss of $78.4 million and overall loss of $28.9 million for its fiscal year ended June 30. Operating revenues were up 8.9% for the year, while expenses jumped 68.5%.

Feds ask for more information from Reynolds, Lorillard

September 2, 2014

(The Charlotte Observer) 

The Federal Trade Commission has asked Winston-Salem-baesd Reynolds American and Greensboro-based Lorillard to provide unspecified additional information in its antitrust review of the tobacco companies' planned $25 billion merger.