Triad

LabCorp posts strong 2Q results

July 29, 2015

(The Times News, Burlington)

LabCorp reported net income of $168.4 million for the second quarter, a 19% increase over $141.3 million the previous year. Revenue increased 46.3%, due in part to the Burlington-based company's $6 billion acquisition of New Jersey-based contract-research organization Covance.
Also: LabCorp names new executive vice president for Covance

Reynolds American announces stock split

July 29, 2015

(Winston-Salem Journal)

The board of directors of Reynolds American approved a two-for-one stock split and a 7.5% increase to its quarterly dividend. The Winston-Salem-based company also raised is 2015 earnings forecast by 7 to 10 cents.

Zoo director announces retirement

July 28, 2015

(High Point Enterprise)

David Jones will retire later this year after 21 years as director of the North Carolina Zoo. Chief Operating Officer Pat Simmons, who was previously president and CEO of the Akron, Ohio Zoo, will take over as director on Sept. 1.
Related: "Animal magnetism," a behind-the-scenes look at the N.C. Zoo, from BNC's July issue

Reynolds' e-cig slips in market share report

July 28, 2015

(Winston-Salem Journal)

Market share of Vuse, the electronic cigarette produced by Winston-Salem-based Reynolds American, has slipped from 35.7% to 34.2%, according to Nielsen data as of July 11. Blu eCigs, now owned by ITG Brands, was second with a 24.1% market share.
Related: Reynolds American beats 2Q profit forecasts

Yadkin Financial reports strong 2Q results

July 24, 2015

(Winston-Salem Journal)

Yadkin Financial reported record net income of $10.6 million for the second quarter, compared with $1.73 million a year ago before the bank's merger with VantageSouth Bancshares.

BNC Bancorp reports 2Q earnings

July 23, 2015

(Winston-Salem Journal)

BNC Bancorp reported a 26% increase in net income to $11 million in the second quarter. Following its $101.3 million acquisition of Roanoke, Va.-based Valley Financial, the High Point-based bank now has assets totaling more than $5 billion.

High Point approves incentives for HAECO expansion

July 22, 2015

(Winston-Salem Journal)

The High Point City Council unanimously approved incentive totaling $147,000 for HAECO Americas, formerly Timco Aviation, to add 147 jobs and transfer 252 existing ones to a 250,000-square-foot building south of Interstate 40.

BB&T incentive plan sparks controversy

July 21, 2015

(The Charlotte Observer)

Five top executives of BB&T are in line to receive $2.6 million in bonuses once the Winston-Salem-based bank successfully completes its integration with Susquehanna Bancshares. A Miami-based bank consultant says those bonuses are usually paid out to the IT staff who actually do the work to convert the computer systems.

Whitaker Park developers consider best uses for campus

July 20, 2015

(Winston-Salem Journal)

Developers of Whitaker Park in Winston-Salem are working to determine the best uses for the 54-year-old manufacturing campus. United Furniture Industries is considering a portion of the site for a 350,000-square-foot distribution center that would employ between 50 and 70 employees.

High Point shopping center sold for $6.25M

July 20, 2015

(News & Record, Greensboro)

Verris Capital paid $6.25 million for the 63,306-square-foot Eastchester Shopping Center in High Point. The seller was Florida-based MS Eastchester.

High Point considers incentives for HAECO expansion

July 17, 2015

(News & Record, Greensboro)

High Point City Council will consider allowing up to $147,000 in incentives for HAECO Americas, formerly TIMCO Aerosystems, to add 147 jobs and relocate its operations to a larger facility. The company, which repairs and refurbishes aircraft interiors, is considering moving to a 250,000-square-foot building previously occupied by TE Connectivity.

Solid second quarter for BB&T

July 17, 2015

(Winston-Salem Journal)

BB&T reported a 7.1% increase in net income to $454 million for the second quarter. The Winston-Salem-based bank plans to complete its purchase of Pennsylvania-based Susquehanna Bancshares by Aug. 1.

D'Annunzio named CFO of Truliant

July 17, 2015

(Winston-Salem Journal)

Winston-Salem-based Truliant Federal Credit Union named David D'Annunzio chief financial officer. D'Annunzio has served as CFO at credit unions in Florida and South Carolina. He replaces Carl Alcon, who retired in May.

Unifi begins expansion of Yadkinville recycling center

July 16, 2015

(Winston-Salem Journal)

Greensboro-based Unifi will more than double the size of its Repreve recycling center in Yadkinville. The company, which makes yarn from plastic bottles for the apparel and automotive industries, has begun construction of an 85,000-square-foot expansion and expects to add up to 20 jobs to its 960. Unifi customers include Ford, The North Face and Nike.

Yadkin County takes control of community hospital

July 16, 2015

(Winston-Salem Journal)

A U.S. District Court judge ordered the operator of Yadkin Valley Community Hospital to turn over the keys to the property on Wednesday after HMC/CAH Consolidated defied a previous court order to keep the hospital open. Kansas City-based HMC abruptly closed the 20-bed hospital on May 22.

Local officials say it will be months before Yadkinville hospital can reopen

July 14, 2015

(Winston-Salem Journal)

Yadkin County officials say it will take a minimum of 120 days before Yadkin Valley Community Hospital can reopen; it could take months longer if the county has to negotiate with a new provider. The hospital's operator, CAH Acquisition, abruptly closed the hospital on May 22.

Aerospace manufacturer adding up to 25 jobs in Davie County

July 14, 2015

(Winston-Salem Journal)

Carolina Precision Machining plans to add 10 to 25 jobs to its 30 in Mocksville by the end of 2016. The privately held company makes components for the aerospace and aviation industries.

Whitaker Park developers seek fundraising extension

July 13, 2015

(Winston-Salem Journal)

Whitaker Park Development Authority asked the city to extend its deadline from 12 to 24 months to raise between $2 million and $2.5 million for the redevelopment of the former R.J. Reynolds tobacco campus. The authority has raised $750,000 from local governments and the Golden LEAF Foundation. Reynolds said Friday it has donated an 87,000-square-foot building to the authority that will be used as labs for biotech companies; the company plans to donate a total of 120 acres and 1.7 million square feet.

Leapfrog releases new hospital survey results

July 9, 2015

(Winston-Salem Journal)

Wake Forest Baptist Medical Center earned the highest score in two hospital prevention and safety categories in a 2014 survey released by the Leapfrog Group.

Greesnboro to sue state over council changes

July 9, 2015

(News & Record, Greensboro)

Greensboro City Council voted 8-1 to sue North Carolina over a law passed last week that eliminates at-large council seats and drastically changes the district's boundaries.