Triad

Heritage Home moving three top executives to High Point

April 14, 2014

(High Point Enterprise)

While St. Louis-based Heritage Home Group won't confirm speculation that it will move its headquarters to High Point, the company told the St. Louis Business Journal it will base three top executives there, including its chief marketing officer and senior vice-president of retail. 

LabCorp relocating 975 workers from Burlington to McLeansville

April 14, 2014

(The Winston-Salem Journal)

LabCorp will relocate about 975 workers in its billing operations division to McLeansville, vacating five buildings in downtown Burlington. The company will not eliminate any jobs as a result of the move, which will begin in early 2015.

Northern Hospital names Cook interim CEO

April 14, 2014

(The Winston-Salem Journal)

Timothy Cook was named interim chief executive officer of Northern Hospital of Surry County. Cook was president and CEO of 321-bed Osceola Regional Medical Center in Kissimmee, Fla. for 14 years.  Former CEO Bill James left to become president of Wake Forest Baptist Health-Lexington Medical Center.  

VF Corp. adds Chinese distribution center

April 11, 2014

(The Winston-Salem Journal)

As part of its efforts to double its business in China by 2017, Greensboro-based clothing manufacturer VF Corp. announced it has opened a $60 million distribution center there that can handle up to 30 million units of product annually and will employ about 400 people. 

APAC could hire as many as 850 in High Point

April 8, 2014

(The News & Record, Greensboro)

APAC Customer Services, which just announced plans last Friday to hire 500 workers by July, said it expects to hire an additional 350 workers at its High Point call center by fall. Site Director Steve Cathers said the company is talking with other partners that could bring new jobs to the center.

NewBridge Bank reports $18.9M profit; CEO pay reaches $1M in 2013

April 8, 2014

(The Winston-Salem Journal)

The chief executive of Greensboro-based NewBridge Bancorp received more than $1 million in compensation during fiscal 2013, including bonuses totaling $231,778. It was the first year since 2008 that the bank issued executive bonuses. NewBridge reported net income of $18.9 million for the year, compared with a loss of $28.2 million in 2012.

Early attendance is up at High Point Market

April 8, 2014

(Time Warner Cable News)

High Point Market Authority President Tom Conley said some exhibitors at this week's biannual event say they've had the highest attendance in five or six years. Of the more than 2,000 vendors at the furniture show, one in ten is new to the market this year. 

Bank of Carolinas wants to increase number of shares

April 8, 2014

(The Winston-Salem Journal)

The board of Mocksville-based Bank of the Carolinas is seeking shareholder permission to increase its number of outstanding shares from 15 million to 580 million. UNC Charlotte finance professor Tony Plath says the move could be a part of strategy to avoid an unwelcome acquisition. 

APAC to add 500 customer-service jobs in High Point

April 7, 2014

(High Point Enterprise)

APAC Customer Services Inc. will hire 500 full-time workers at its High Point service center by July. The outsourcing company says the call-center positions will provide service for a telecommunications company. 

Greensboro's top business recruiter to retire

April 3, 2014

(The News & Record, Greensboro)

Dan Lynch is retiring as president of the Greensboro Economic Development Alliance after 10 years with the recruiting organization. Lynch has been criticized recently for not bringing enough industry to the area post-recession.

NewBridge closes merger with Raleigh's CapStone Bank

April 2, 2014

(The Winston-Salem Journal)

Greensboro-based NewBridge Bancorp has completed its acquisition of Raleigh-based CapStone Bank, which has four branches in the Triangle area. The deal, which was announced in November, gives NewBridge assets of $2.4 billion and a total of 40 branches.

BNC Bancorp completes purchase of Albemarle's South Street Financial

April 2, 2014

(The Winston-Salem Journal)

High Point-based BNC Bancorp has completed its acquisition of South Street Financial Corp., parent of Home Savings Bank of Albemarle. The purchase gives BNC four additional branches and $278 million in assets. BNC previously announced plans to purchase the parent company of Chapel Hill-based Harrington Bank; when that deal closes it will have $3.4 billion in assets.

B/E Aerospace announces $600 million in new contracts

April 1, 2014

(The Winston-Salem Journal)

Wellington, Fla.-based B/E Aerospace announced contract awards from seven major airlines worth a total of $600 million and raised its earnings guidance for fiscal 2014 by 5 cents a share. B/E makes commercial aircraft components and now employs more than 1,300 at its plant in Winston-Salem. 

Heritage Home Group auctioning seventeen properties

March 31, 2014

(Winston-Salem Journal)

Seventeen properties formerly occupied by Furniture Brands International have been put up for auction, including nine in North Carolina. Others are in Mississippi, Tennessee and Virginia. Heritage Home Group, which bought assets of St. Louis-based Furniture Brands after the company filed for bankruptcy protection last year, said last week it plans to close its Pearson Co. plant in High Point by Aug. 31.

BB&T Insurance Services to acquire Woodbury & Co.

March 31, 2014

(Winston-Salem Journal)

BB&T Insurance Services will acquire Woodbury & Co., which employs more than 50 at offices in Wilmington and Myrtle Beach, S.C., by April 1. Financial terms of the deal were not disclosed.

Group to propose alternate plan for Guilford prison farm site

March 31, 2014

(The News & Record, Greensboro)

Opponents of "Project Haystack," a proposed megasite in eastern Guilford and Western Alamance counties, say the development would destroy farmland and cost Guilford County taxpayers millions of dollars. PLACE (Public Lands for Agricultural and Community Enrichment) – one group opposed to the project –  is developing alternative plans for the land.

Lowes Foods increases efforts to buy local

March 31, 2014

(The News & Record, Greensboro)

Lowes Foods has quadrupled the number of small and midsized farmers from which it buys over the past six years. The Winston-Salem-based company owns and operates more than 100 grocery stores in the Carolinas and Virginia. 

Pearson furniture plant to close in High Point

March 28, 2014

(High Point Enterprise)

Heritage Home Group announced it will close the Pearson Co. home-furnishings plant in High Point, laying off 86 workers by August. The Pearson plant, founded in 1942, merged with Lane Home Furnishings in the 1970s, which later became part of Furniture Brands International. Heritage Home acquired assets of Furniture Brands last year.

Burlington nonprofit to add 70 jobs

March 28, 2014

(The News & Record, Greensboro)

Industries of the Blind Greensboro, which employs visually impaired workers, will add 70 employees in an expansion of its apparel-manufacturing center in Burlington. President David LoPresti said he expects about 75% of the new hires will be blind. The nonprofit currently employs about 200 people.

Swofford makes it official: Brooklyn to host ACC tournament in 2017, 2018

March 27, 2014

(The News & Observer, Raleigh)

ACC Commissioner John Swofford confirmed Wednesday that the men's basketball tournament will be held at the Barclays Center in Brooklyn in 2017 and 2018. The addition of Syracuse, Pittsburgh and Notre Dame to the conference swayed the ACC's decision to move the tournament to New York.The Greensboro Coliseum will host the tournament in 2015, while the Verizon Center in Washington, D.C. will host it in 2016. Read how John Swofford and the ACC kept the conference viable through expansion in our September 2012 cover story