Triad

Sports car group wants Pilot Mountain to itself for a day

July 29, 2014

(Winston-Salem Journal)

Pending legislation would essentially allow a group of vintage sports-care enthusiasts to close Pilot Mountain State Park to the public on Sept. 11.

Drug disappointment forces Targacept to branch out

July 29, 2014

(Winston-Salem Journal)

Targacept's latest clinical-trial disappointment will force the Winston-Salem-based drug developer to attract partnerships or take ownership stakes in areas outside its traditional research.

HondaJet makes its debut

July 29, 2014

(The News & Record, Greensboro)

Honda Aircraft Co., which is based at Piedmont Triad International Airport, debuted its HondaJet at the Experimental Aircraft Association's AirVenture show in Wisconsin.

20 years later: BB&T-Southern National merger

July 28, 2014

(Winston-Salem Journal)

On Aug. 1, 1994, BB&T and Southern National announced a merger that would eventually make the combined bank one of the largest in the country.

ZeekRewards receiver goes after winners

July 28, 2014

(Winston-Salem Journal)

The receiver of ZeekRewards.com is requesting that four people who made money from the Lexington-based Ponzi scheme be forced to repay their profits.

Sales-tax holiday could make a comeback

July 28, 2014

(Winston-Salem Journal)

The N.C. Retail Merchants Association will examine the effects of not having a tax-free weekend this year. It was eliminated as part of the state legislature's tax overhaul.

Greensboro too south for Stone

July 28, 2014

(Greensboro News & Record)

Stone Brewing Co. told Greensboro officials the city was too far south for the California-based brewer's East Coast manufacturing and distribution facilities.

Lorillard investor sues to block Reynolds acquisiton

July 25, 2014

(News & Record, Greensboro)

A Lorillard investor seeking to represent all company shareholders has filed a lawsuit to stop Reynolds American's $27.4 billion acquisition of the Greensboro-based cigarette maker, according to a Bloomberg report.

Profits up at Winston-Salem-based Hanesbrands

July 24, 2014

(Winston-Salem Journal)

Hanesbrands reported a $154.6 million profit for the second quarter, driven by increased sales in apparel. That compares with $121.6 million a year ago. The company raised its 2014 earnings guidance by 40 cents.

Cambro begins hiring in Alamance

July 24, 2014

(The Times-News, Burlington)

Cambro will hire 60 people for jobs at its new production and distribution center in Mebane, which is expected to open in early 2015. The California-based company announced earlier this year it would invest $30.4 million in the plant and hire 300 workers. Cambro makes storage items for the food-service industry.

Heritage Home moving headquarters to High Point

July 23, 2014

(High Point Enterprise)

Heritage Home Group will move its headquarters from St. Louis to High Point, where it will employ about 300. Heritage Home was formed last year when KPS Capital Partners bought assets of Furniture Brands International out of bankruptcy.

Herbalife stock soars 25% after Ackman presentation

July 23, 2014

(Winston-Salem Journal)

Following hedge-fund manager Bill Ackman's attempt to expose Herbalife Inc. as a pyramid scheme in a three-hour presentation on Tuesday, investors seemed unfazed by his criticism and the company's stock rose $13.75 to $67.77. 

Greensboro's Natty Greene's expanding despite trademark battle

July 23, 2014

(News & Record, Greensboro)

Natty Greene's is undergoing a third expansion at its Greensboro brewery, and other cities have shown interest in the brand. Meanwhile, the brewer is battling Anheuser-Busch, which filed an opposition to its trademark application over the "Natty" name.

Hatteras Financial reports second quarter loss

July 23, 2014

(Winston-Salem Journal)

Hatteras Financial Corp., a Winston-Salem-based mortgage real estate investment trust, reported a $17.9 million loss for the second quarter. 

BB&T's second quarter profits down 22.3%

July 22, 2014

(Winston-Salem Journal)

BB&T Corp. reported net income of $425 million for the second quarter compared with $547 million for the same period a year ago. The 22.3% drop was due to mortgage- and tax-related charges totaling $88 million. 

Ackman says he can prove Herbalife is a pyramid scheme

July 22, 2014

(News & Record, Greensboro)

Hedge-fund manager Bill Ackman will hold a presentation Tuesday that he says will prove Los Angeles-based Herbalife is a fraud. The founder and CEO of Pershing Square Capital Management claims the vitamin company is a pyramid scheme. Herbalife is investing $130 million in a plant in Winston-Salem, where it plans to employ nearly 500 people by the end of 2015.

Punitive damages likely to be reduced in RJ Reynolds case

July 22, 2014

(Winston-Salem Journal)

The $23.6 billion in punitive damages awarded by a Florida jury last week is likely to be reduced or overturned, according to industry analysts. A spokesman for R.J. Reynolds Tobacco Co. has said it will appeal the ruling.

RJ Reynolds to fight $23.6 billion verdict

July 21, 2014

(The News & Observer, Raleigh)

R.J. Reynolds Tobacco Co. says it will appeal a verdict in a lawsuit that would require it to pay $23.6 billion in punitive damages to the widow of a smoker who died of lung cancer in 1996. A Florida jury awarded the damages on Friday, a day after Cynthia Robinson was awarded $16.8 million in compensatory damages.

Bank of the Carolinas adopts poison pill to avoid hostile takeover

July 21, 2014

(Winston-Salem Journal)

Mocksville-based Bank of the Carolinas will adopt a poison pill strategy to prevent an unwanted takeover. The bank announced last week it had raised $45.8 million in private-equity funding.

NewBridge establishes middle-market banking team in Charlotte

July 21, 2014

(The Charlotte Observer)

Greensboro-based NewBridge Bank has created a banking group in Charlotte to serve companies with annual revenue between $25 million and $250 million.  The six-person team will be led by Michael McMahan, a former Bank of America executive. The bank plans to expand the team in the Triad and Triangle areas.