Triad

Olde Mecklenburg exits Triad; blames NC beer law

January 7, 2016

(News & Record, Greensboro)

Charlotte's Olde Mecklenburg Brewery is closing its Greensboro warehouse and scaling back Triad expansion plans. The brewery blames a state law that requires craft brewers to use a third party distributor once production reaches 25,000 barrels a year. Nearing that threshold, Olde Mecklenburg says it is pulling out of the Triad "in order not to underserve Charlotte – our home market."

NC Railroad Co. land buy juices Triad hopes for an auto plant

January 7, 2016

The announcement Tuesday that the state-owned N.C. Railroad Co. would buy about 875 acres in a Randolph County industrial megasite for $13 million is "a marriage meant to be," says Jim Melvin, former Greensboro mayor, current octogenarian and Triad booster extraordinaire.

NC Railroad bets on Triad megasite

January 6, 2016

(News & Record, Greensboro)

The North Carolina Railroad Co. said Tuesday it will pay about $13 million for 875 acres within the Greensboro-Randolph Megasite, adding to the 421 acres Randolph County purchased in 2015. Regional leaders hope the megasite will help the area attract a car plant or other large-scale manufacturer.

New Reynolds American subsidiary to focus on vapor products

January 6, 2016

(Winston-Salem Journal)

RAI Innovations was established to help the Winston-Salem-based tobacco company develop new vapor and nicotine products and bring them to market faster. Carolyn Hannigan will become president of the new subsidiary. Reynolds' Vuse is the top-selling electronic cigarette in the United States.
Blowing smoke: E-cigarettes and vaping are making a push into the mainstream

North Carolina's new prosperity hasn't reached many areas

December 28, 2015

(Greensboro News and Record)

About 300,000 more people are working in North Carolina this year than at the beginning of 2007, but virtually all of the growth occurred in the Triangle and Charlotte metro areas, a study of employment statistics show. Twenty-six N.C. counties have lost jobs over the past year. The Triangle and Charlotte have added more than 380,000 jobs since 2007, while the Greensboro-Winston-Salem area has expanded by fewer than 3,500.

PTI says no to Uber drivers

December 24, 2015

(Winston-Salem Journal)

Uber drivers waiting for customers at Piedmont Triad International Airport will now have to park off-site. Executive Director Kevin Baker says that's due to the airport's contract with a local cab company. RDU recently announced a new agreement with Uber and Lyft: The airport will charge a $1 fee for every airport trip and has designated a staging area for the ride-hailing services.

Shareholder sues over NewBridge-Yadkin merger

December 24, 2015

(Winston-Salem Journal)

A NewBridge Bancorp shareholder is suing the company's executives and board of directors, claiming they undervalued the Greensboro-based bank in its proposed $456 million sale to Raleigh-based Yadkin Financial.

American Banker magazine names BB&T's King Banker of Year

December 22, 2015

(The Winston-Salem Journal)

American Banker magazine named BB&T Chairman Kelly King as its banker of the year, citing his 26 years as a senior BB&T manager and the bank's completion of two major acquisitions. King, 67, has no retirement plans. Since he became CEO in 2009, BB&T has grown from $136.5 billion in total assets to $220 billion, pending completion of its purchase of National Penn Bancshares Inc.

German grocer breaks ground on regional hub

December 21, 2015

(News & Record, Greensboro)

Work has begun in Alamance County on a new regional distribution center for Lidl, one of the world’s largest grocery and household retailers. Lidl has about 10,000 stores in 26 countries. Now, it's eyeing North Carolina with plans for stores in Cary, Charlotte, Lexington, Raleigh and Winston-Salem. The discount retailer, similar to Aldi, said it planned to invest $125 million in the 50,000-square-foot facility in Alamance County after Graham and Mebane approved a nearly $5.38 million incentive package to lure the grocer.

 

 

National Penn shareholders approve BB&T merger

December 18, 2015

(Winston-Salem Journal)

Shareholders of National Penn Bancshares on Wednesday approved the company's $1.8 billion sale to BB&T, a deal that will give the Winston-Salem-based bank about $220 billion in assets. Though the deal was approved, some shareholders apparently weren't happy with the $13 per share payout or losing their hometown bank. "I almost literally held my nose for this vote," one shareholder told the Allentown (Pa.) Morning Call.

Teamsters rally to protest job losses at Eden brewery

December 16, 2015

(News & Record, Greensboro)

About 50 people turned out Tuesday for a rally protesting the planned closure of the MillerCoors plant in Eden. A local Teamsters group organized the rally. More than 500 people making an average salary of $60,000 will lose their jobs when the brewery shuts down next year ("Crying in their beer," November.)

High Point showroom operator withdraws plans for IPO

December 16, 2015

(Winston-Salem Journal)

International Market Centers on Monday withdrew its request for an initial public offering, citing "unaffordable market conditions." The real-estate investment group owns and operates showrooms totaling 6.7 million square feet in High Point and 5.4 million square feet in Las Vegas. It's the second time IMC has postponed the IPO.

Novant breaks ground on 36-bed Clemmons hospital

December 16, 2015

(Winston-Salem Journal)

The Winston-Salem-based health system broke ground on a $49 million addition to its Clemmons Medical Center that will add 36 inpatient beds, three new operating rooms, a pharmacy and a cafeteria.

Novant Health chief gets 14% raise

December 14, 2015

(Winston-Salem Journal)

Carl Armato earned $2.59 million in overall compensation in fiscal 2014, a figure that includes a 14.4% salary increase to $1.19 million. Four other executives at the Winston-Salem-based health system earned more than $1 million in overall compensation, according to figures released Friday.

Incentives spur economic growth in Greensboro

December 14, 2015

(News & Record, Greensboro)

The city of Greensboro has approved a spate of incentive packages lately, leading to more private investment in the Gate City. Companies adding jobs include Qorvo (100 new jobs), Self Help Ventures (20 jobs), Natty Greene's (27 jobs) and Ecolab (35 jobs). The city council on Tuesday will consider grants for Tyco Electronics to create 193 jobs in a local expansion.

BNC Bancorp one of 16 suitors for SC bank

December 14, 2015

(Winston-Salem Journal)

High Point-based BNC Bancorp was one of sixteen groups that expressed interest in buying Southcoast Financial, according to a proxy filing. Pending shareholder and regulatory approval, BNC plans to pay $95.5 million for Southcoast, which has 10 branches in the Charleston, S.C., area and $506 million in assets.

Honda Aircraft offers peek inside Greensboro plant

December 11, 2015

(Winston-Salem Journal)

Some customers have been waiting more than six years for one of the first 20 HondaJets on display at the company's production plant in Greensboro, and at least two jets will be shipped by year-end, CEO Michimasa Fujino says. The FAA this week granted certification for the $4.5 million light aircraft, which were originally expected to be available in 2010.

LabCorp buys California lab-testing firm

December 11, 2015

(WRAL TechWire)

Burlington-based LabCorp will buy Pathology, a laboratory with 50 locations in California that provides clinical testing focused on women's health and reproductive donor testing, according to its website. Financial terms were not disclosed.

HondaJet gets long-awaited FAA approval

December 10, 2015

(News & Record, Greensboro)

Honda Aircraft can finally begin delivering its $4.5 million light jets, produced in Greensboro. CEO Michimasa Fujino said Wednesday that the Federal Aviation Administration has completed all testing of the aircraft; more than 100 orders have already been placed, the company says.

Greensboro City Council OKs new funding for performing arts center

December 9, 2015

(News & Record, Greensboro)

Greensboro City Council approved a controversial plan requiring the city to take on an additional $9.6 million in bond debt to cover a budget shortfall for a planned performing arts center. The council also approved business incentives totaling more than $1.6 million for local expansions, including Ecolab and Natty Greene's Brewing Company.