Triad

More than 90,000 claim checks issued in ZeekRewards case

October 1, 2014

(The Dispatch, Lexington)

The receiver in the ZeekRewards.com case said 90,297 checks were being issued to claimants who lost money in the Lexington-based Ponzi scheme. The first interim, partial distributions total about $134.2 million.

Cone Health announces $100 million plan for new projects

September 29, 2014

(News & Record, Greensboro)

Cone Health will spend $100 million to relocate its Women's Hospital to a new 50,000-square-foot addition at its main Greensboro campus and build a new Behavioral Health Hospital. Both projects are expected to be completed by 2019. 

 

Wall promoted to senior VP at NewBridge Bank

September 30, 2014

(Winston-Salem Journal)

Greensboro-based NewBridge Bank named Trent Wall senior vice president. A commercial loan officer with 10 years of experience, Wall will be in charge of business development for the Winston-Salem area.

Company could create 40 jobs in Mocksville

September 29, 2014

(Winston-Salem Journal)

A public hearing will be held Oct. 6 to consider incentives for an unidentified global production company that could create 40 jobs in Mocksville. The company would invest at least $8.2 million and could create an additional 20 jobs at a 108,000-square-foot building that could be expanded to 150,000 square feet.

 

Sheetz to open $32 million Burlington distribution center

September 26, 2014

(Winston-Salem Journal)

Sheetz is preparing to open a $32.8 million, 250,000-square-foot manufacturing and distribution center in Burlington to serve about 150 of its convenience stores in North Carolina, Virginia and West Virginia. A ribbon-cutting is scheduled for Nov. 12. 

UNC board to announce WSSU chancellor on Friday

September 26, 2014

(Winston-Salem Journal)

Following a four-month search, the UNC Board of Governors is expected to name a new chancellor at Winston-Salem State University on Friday.

RF Micro headquarters to stay in Greensboro after merger

September 25, 2014

(News & Record, Greensboro)

RF Micro Devices confirmed it will maintain its Greensboro headquarters after the chip-maker's upcoming merger with Hillsboro, Ore.-baesd TriQuint Semiconductor. The new holding company for the two companies will be called Qorvo and will be valued at about $2 billion. 

Duke Energy will grant $2 million for water-improvement on Dan River

September 25, 2014

(Winston-Salem Journal)

Duke Energy will provide at least $2 million for conservation efforts and water-quality improvement along the Dan River, the site of the Charlotte-based utility's February coal-ash spill (cover story, April)

Novant to build medical office in Guilford County

September 24, 2014

(Winston-Salem Journal)

Novant Health will build a 6,200-square-foot medical office in High Point to support its 50-bed Kernersville Medical Center. The Winston-Salem-based health system expects to break ground on the site by early November and the center should open in 2015.

Former Wells Fargo employee files complaint over Wachovia acquisition

September 24, 2014

(Winston-Salem Journal)

A former Wells Fargo & Co. employee says in a complaint filed Monday that the San Francisco-based bank broke federal regulatory laws in its 2008 acquisition of Wachovia Corp. George Hartzman of Greensboro filed a lawsuit in 2013 seeking $31.1 million in damages. Two previous shareholders lawsuits were dismissed by a North Carolina Business Court judge in 2011.

PepsiCo exec to become president of R.J. Reynolds Tobacco

September 22, 2014

(Winston-Salem Journal)

Reynolds-American named Debra Crew president of subsidiary R.J. Reynolds Tobacco Co. effective Oct. 1. Crew comes from PepsiCo, where she has held various executive leadership roles. She replaces Andrew Gilchrist, who will become an executive vice president with the parent company. 

Duke Energy identifies five properties for site-readiness program

September 22, 2014

(Winston-Salem Journal)

Duke Energy has chosen five central N.C. locations for its site-readiness program. Properties selected for the program, which the utility will help market for corporate expansions and relocations, include a 320-acre tract in Guildford County and a 1,470-acre site in Chatham County, which economic developers have touted as a potential "megasite" for an auto manufacturer. Other sites include ones in Lincoln, Rowan and Vance counties.

VF Corp. hires leader for jeanswear research center

September 19, 2014

(News & Record, Greensboro)

VF Corp. has tapped Sudhakar Puvvada to lead its Global Jeanswear Innovation Center at a yet-to-be-determined location in Greensboro. Puvvada comes from Kentucky-based chemical company Ashland Inc., where he was vice president for technology platforms, and worked in product development for 14 years at Unilever.

Three health care systems form shared-services company

September 18, 2014

(Winston-Salem Journal)

Winston-Salem-based Wake Forest Baptist Medical Center, Raleigh-based WakeMed and Greenville-based Vidant Health are forming a new partnership to lower supply chain costs and share certain IT infrastructure and clinical protocols. The three hospital systems will continue to operate independently after the formation of the new shared-services company, which has yet to be named.

High Point furniture company committed to keeping local jobs

September 18, 2014

(High Point Enterprise)

Edward Ferrell + Lewis Mittman, which employs 85 at its high-end furniture manufacturing plant in High Point, remains committed to keeping manufacturing jobs here rather than following the industry trend of moving production overseas.

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.