Triad

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.

Project announced for former Pilot Life campus in Greensboro

January 16, 2015

(News & Record, Greensboro)

The owner of the former Pilot Life insurance campus in Greensboro's Sedgefield neighborhood wants to partner with other developers on a mixed-use community that would blend residential and commercial projects, possibly including a hotel, at the 142-acre site. 

Winston-Salem finance committee approves loan for spec building

January 15, 2015

(Winston-Salem Journal)

Winston-Salem's finance committee approved a request for a $2.5 million loan to build a 50,000- to 60,000-square-foot speculative building at Union Cross. The Winston-Salem City Council will consider the request at its Tuesday meeting.

Olde Mecklenburg Brewery adding Triad distribution center

January 14, 2015

(News & Record, Greensboro)

Charlotte-based Olde Mecklenburg Brewery is opening a 50,000-square-foot distribution warehouse in Greensboro with a focus on expanding its customer base in the Triad.

Fresh Market CEO resigns

January 13, 2015

(News & Record, Greensboro)

Craig Carlock has resigned as president and CEO of The Fresh Market, the company announced Monday. The board of the Greensboro-based grocer named Sean Crane, executive vice president and chief operating officer, interim CEO and has retained a national search firm to find a permanent replacement. 
Related: "Behind the Checkout Counter," May 2013

Former Wells Fargo exec to lead Piedmont Triad Partnership on interim basis

January 12, 2015

(News & Record, Greensboro)

The Piedmont Triad Partnership announced organizational changes that will allow it to focus on recruiting large-scale employers such as an auto manufacturer. Stan Kelly, who recently retired as president for Wells Fargo's Carolinas region, will become interim CEO, replacing David Powell who resigned last week.

Whitaker Park developers could seek DOT financing

January 12, 2015

(Winston-Salem Journal)

Road improvements to Akron Drive in Winston-Salem could be critical to the redevelopment of the Whitaker Park manufacturing campus, which R.J. Reynolds Tobacco plans to donate to a local nonprofit that is a collaboration of Wake Forest University, Winston-Salem Business and the Winston-Salem Alliance.

Novant Health partners with West Virginia health system

January 12, 2015

(Winston-Salem Journal)

Novant Health has entered into a shared-services agreement with Morganton, W.V.-based Monongalia Health System. The Winston-Salem-based health system now has shared-services partnerships, which help smaller hospitals cut expenses by increasing purchasing power and sharing technology services, with seven hospital systems.

High Point packaging manufacturer to be acquired

January 12, 2015

(High Point Enterprise)

A High Point manufacturer founded as a box company in 1928 is being sold to New-Indy JV Corp., a joint venture between the Kraft Group and Indianapolis-based Schwarz Partners. Carolina Container employs about 250 people at locations in High Point, Archdale and Thomasville. No layoffs or plant closures are expected.

Ennis Paint receives state grant for Thomasville expansion

January 9, 2015

(Winston-Salem Journal)

Ennis Paint was awarded a $500,000 state rural infrastructure grant for a proposed expansion in Thomasville. The company plans to hire 40 workers, according to the state Commerce Department. The Thomasville-based company makes and distributes paints and other pavement marking products used on roads, highways, runways and parking lots. 

Kmart closing Greensboro distribution center

January 9, 2015

(Winston-Salem Journal)

Kmart plans to close its Greensboro distribution center in mid-April, affecting about 130 workers. Some eligible workers will be able to apply for other jobs within the company, a spokesman from  Sears Holdings, the parent company, said in a statement.