Triad

Thomas Built announces leadership change

February 4, 2015

(Winston-Salem Journal)

Caley Edgerly will become president and CEO of Thomas Built Buses March 1. He has served as vice president of operations since 2012. Current CEO Kelley Platt was appointed general manager of Western Star, a Daimler Trucks sister company. In October, the High Point-based school-bus manufacturer announced an expansion that will add 236 jobs in 2015.

Regulators approve BB&T's purchase of Texas Citibank branches

February 3, 2015

(Winston-Salem Journal)

BB&T received regulatory approval for its proposed acquisition of 41 Citibank branches in Texas and plans to close the deal on March 20. The Winston-Salem-based bank acquired 21 Citibank branches in June 2014 for $36 million. BB&T will become the 12th largest bank in Texas, with 123 branches and $5.3 billion in deposits.

Duke Energy CEO: Coal-ash spill changed company's attitude

February 2, 2015

(News & Record, Greensboro)

Duke Energy CEO Lynn Good said last year's coal-ash spill in the Dan River had a significant impact on the company, leading it to create a separate division focused on ash management. Monday marks the one year anniversary of the spill, which dumped tons of coal ash into the river (cover story, April 2014).
Related: A year after ash spill, open questions about Duke and the Dan

Greensboro gains craft breweries

February 2, 2015

(News & Record, Greensboro)

The craft beer industry in Greensboro and the Triad area is gaining momentum. Several new breweries have opened within the past year or have announced plans to open in 2015.

Hanesbrands reports 177% increase in net income

January 30, 2015

(Winston-Salem Journal)

Hanesbrands reported a 177% increase in net income for the fourth quarter, to $89.4 million compared with $32.3 million a year ago. The Winston-Salem-based company's recent acquisitions of Maidenform Brands and DBApparel bolstered revenue, which was up 18.4% to $1.52 million for the quarter.

Ecolab adding 45 jobs in Greensboro

January 29, 2015

(News & Record, Greensboro)

Ecolab will add invest $10 million and add 45 jobs over three years in its Kay Chemical business in Greensboro. The company makes cleaners for restaurants and convenience stores and employs more than 490 people.

BB&T resolves account-balance issue

January 29, 2015

(Winston-Salem Journal)

BB&T said a glitch that caused its website to display incorrect account balances has been resolved. A spokesman said the issue, which began over the weekend, was not the result of a cybersecurity attack. 

Shareholders approve tobacco merger

January 29, 2015

(Winston-Salem Journal)

Shareholders overwhelmingly approved Reynolds American's proposed $27.4 billion acquisition of rival tobacco company Lorillard. Pending FTC approval, the companies expect the deal to close in the first half of this year.

Shareholders to vote on tobacco merger

January 28, 2015

(The News & Observer, Raleigh)

Shareholders of Reynolds American and Lorillard are scheduled to vote Wednesday on their proposed $25 billion merger. The tobacco companies announced in July plans for Winston-Salem-based Reynolds to acquire Greensboro-based Lorillard and sell some of the companies' brands to Imperial Tobacco Group for $7.1 billion ("Buying a Brand," August 2014).

Eden says rivers 'thriving'

January 28, 2015

(News & Record, Greensboro)

Nearly a year after coal ash spilled into the Dan River from a nearby Duke Energy steam station (cover story, April 2014), officials from Eden say their rivers are "thriving." 

BNC Bancorp reports record profit in fourth quarter

January 27, 2015

(Winston-Salem Journal)

BNC Bancorp, the High Point-based parent of Bank of North Carolina, reported profit of $8.5 million in the fourth quarter, an increase of 160% over the same period a year ago. Net income for the fiscal year rose 81.6% to $29.4 million. BNC will have about $4.9 billion in assets after it completes a pending $101.3 million acquisition of Roanoke, Va.-based Valley Financial Corp.

High Point's Cornerstone losing 25 doctors

January 27, 2015

(High Point Enterprise)

More than two dozen doctors will leave Cornerstone Health Care by early March. Three years ago, the High Point-based physicians group changed the fee and compensation structure for its member doctors. The group has more than 375 physicians in more than 90 practices, according to its website.

BB&T confirms job cuts

January 26, 2015

(Winston-Salem Journal)

BB&T said it has cut 1,440 full-time jobs – 4.3% of its workforce – since March 2014 as part of a restructuring. A spokeswoman for the Winston-Salem-based bank says the majority of the cuts are from attrition. 

La-Z-Boy closure shows risk of economic incentives

January 26, 2015

(High Point Enterprise)

Unlike Charlotte, which had a clawback provision in its incentives deal with Chiquita Brands International, High Point stands to lose money when La-Z-Boy closes its regional corporate office over the next two years. The city expects to lose $300,000 to $400,000 of the $600,000 incentives deal with the furniture manufacturer.

Krispy Kreme adding shops in Russia

January 22, 2015

(Winston-Salem Journal)

Winston-Salem-based Krispy Kreme Doughnuts will add 15 doughnut shops over five years in the St. Petersburg area of Russia through an agreement with its Moscow-area franchise partner.

Federal approval of tobacco merger advancing

January 21, 2015

(Winston-Salem Journal)

Reynolds American and Lorillard said in a joint regulatory filing they are cooperating with the Federal Trade Commission and approval of their $27 billion deal is advancing. Wells Fargo Securities analyst Bonnie Herzog said she believes the FTC could approve Winston-Salem-based Reynolds' acquisition of Greensboro-based Lorillard as soon as March or April.

PART moving a step closer to new Triad bus terminal

January 21, 2015

(High Point Enterprise)

The Piedmont Authority for Regional Transportation could open a new bus terminal and maintenance center in fall 2016. The group is about to complete a purchase of the last parcel of land on the 7-acre site in west Greensboro.

Stanley Furniture to bring back youth product lines

January 20, 2015

(Winston-Salem Journal)

Stanley Furniture announced it will revive its youth and nursery furniture lines as an import business less than a year after ending domestic production and laying off 400 workers at its Robbinsville plant (Statewide, May 2014). The High Point-based company ended domestic production of its adult furniture lines in 2010.

Ralph Lauren distribution center to open in September

January 20, 2015

(High Point Enterprise)

Construction on Ralph Lauren's 843,000-square-foot distribution center in High Point is on schedule, with a targeted completion date of September. The New York-based apparel company hasn't said how many jobs it will create when the center opens.

Krispy Kreme reveals expansion plans

January 19, 2015

(Winston-Salem Journal)

Krispy Kreme Doughnuts unveiled expansion plans for fiscal 2016 and beyond at an investor conference last week. The Winston-Salem-based company projects a net gain of 20 to 35 domestic stores in fiscal 2016, which begins Feb. 1, and expects to add at least 200 international shops by the end of fiscal 2017.