Triad

Logisitics company creating 60 jobs in Greensboro

April 15, 2016

(News & Record, Greensboro)

NFI, a privately held company based in Cherry Hill, N.J., will move into a 1.6-million-square-foot distribution warehouse previously occupied by Kmart. The company provides transportation and warehousing services. NFI employs 8,000 people and say it has $1.2 billion in revenue.

Greensboro News & Record editor/publisher resigns

April 13, 2016

(Winston-Salem Journal)

Jeff Gauger resigned Tuesday as editor and publisher of the News & Record, which is owned by Berkshire Hathaway Media Group. Gauger came to Greensboro in 2012 from Canton, Ohio, where he was editor of the city's daily newspaper and three smaller newspapers.

New York firm buying Hatteras Financial for $1.5B

April 12, 2016

(Winston-Salem Journal)

Annaly Capital Management will pay $1.5 billion in cash and stock for Winston-Salem-based Hatteras Financial, a publicly held real-estate investment trust. Hatteras' portfolio is primarily in adjustable-rate mortgage securities. The deal is expected to close Sept. 30.

Individual attendance down at High Point Market

April 11, 2016

(Greensboro News & Record)

The number of companies registered for the biannual trade show is about the same as last spring, but the number of individuals representing the companies is down about 4%, according to CEO Tom Conley. He says the decline in attendance is unrelated to HB2, though dozens of companies have said they won't attend the market over the bill's passage. The impact of HB2 won't be clear until after the market concludes on April 20.

Hanesbrands to buy Champion Europe

April 8, 2016

(Winston-Salem Journal)

Hanesbrands will buy Champion Europe in an all-cash deal valued at $228 million, a move that will allow the Winston-Salem-based company to better promote the athletic apparel brand globally. Hanesbrands recently paid $30 million to reacquire the rights to Champion in Japan. The company predicts global Champion sales will reach $2 billion by 2021 or 2022.

Foundation pushing forward with megasite plans

April 7, 2016

(News & Record, Greensboro)

Duke Energy will begin engineering studies to bring power to the Greensboro-Randolph Megasite, and Charlotte-based preconstruction firm Zapata-LJB will conduct an environment impact study of the interchange design. The North Carolina Railroad Co. plans to close this week on 800 acres it is buying to complete the 1,400-acre site, which area officials hope will lure an automaker.

MillerCoors layoffs to begin in June

April 6, 2016

(Winston-Salem Journal)

MillerCoors will lay off about 85 workers at its Eden plant on June 3, with more layoffs planned over the summer, according to a notice filed with the state Commerce Department. Last month, N.C. Attorney General Roy Cooper called for an investigation into the timeline of the company's decision to close the plant, which could idle more than 500 workers.

BB&T buys National Penn for $1.8B

April 5, 2016

(Winston-Salem Journal)

BB&T has completed its $1.8 billion purchase of National Penn Bancshares, increasing the Winston-Salem-based bank's assets to about $220 billion. It could be the BB&T's last acquisition for a while: Banks face more stringent regulatory requirements when they reach $250 billion in assets. BB&T also closed Friday on a $500 million deal to buy wholesale insurance broker Swett & Crawford.

BNC Bancorp-Southcoast Financial deal delayed

April 4, 2016

(American Banker)

BNC Bancorp, the High Point-based parent of Bank of North Carolina, has delayed its acquisition of Mount Pleasant, S.C.-based Southcoast Financial because the Federal Reserve hasn't completed its review of the deal.

Land expansion gives Piedmont Triad airport a chance for growth spurt

April 4, 2016

(Greeensboro News & Record)

Piedmont Triad International Airport is poised for expansion as construction continues on a taxiway and bridge that will connect the airport to 1,000 additional acres. The airport has transitioned from a small passenger-oriented facility into a diversified operation for cargo, aircraft maintenance and business-jet production that employs 5,000 people and helps support another 8,000 jobs in related industries.

ZeekRewards chief receives continuance in federal fraud case

April 1, 2016

(Greensboro News and Record)

Paul Burks, the founder of now defunct Lexington-based ZeekRewards, was granted a continuance for his trial on fraud charges, extending it from May to July 5. The receiver for ZeekRewards.com has distributed about $263 million to victims of the $850 million Ponzi scheme that involved more than 1 million investors. (See "Bounty Hunter" in the June 2015 Business North Carolina.) The Securities and Exchange Commission closed the company in 2012.

Drug maker mulling new Durham plant in light of LGBT controversy

April 1, 2016

(Raleigh News and Observer)

New Jersey-based Braeburn Pharmaceuticals said it is "reevaluating our options based on the recent, unjust legislation" involving rights for people based on gender identity. The company two weeks ago said it planned a $20 million manufacturing and research plant in Durham with about 50 jobs paying an average of about $76,000 a year. The move came as Gov. McCrory met with gay-rights advocates to discuss their complaints.

 

Primo Water's Prim earned $821,000 in compensation last year

April 1, 2016

 (Winston-Salem Journal)

Primo Water Corp. CEO Billy Prim had total compensation of about $821,000 last year, according to the company proxy. The bottled-water company reported its first profit last year, about $1.9 million, on sales of $126.9 million.

 

 

Novant Health reports $191M in excess income

March 30, 2016

(Winston-Salem Journal)

Novant Health earned $191.6 million in excess income — the same as profit for a nonprofit organization — in fiscal 2015, a 5% decrease compared with the previous year. The drop was due to a $60 million loss in the company's investment portfolio. Operating revenue rose 8.9% to $4.13 billion for the Winston-Salem-based health care system, which employs about 24,000 people.

Roy Cooper to address workers at MillerCoors brewery in Eden

March 30, 2016

State Attorney General Roy Cooper will speak to workers outside MillerCoors' brewery in Eden on Wednesday. The workers are protesting the planned closure of the brewery, which will eliminate more than 500 jobs in the town of about 15,000 residents. 

Wake Forest Innovation Quarter announces $40M project

March 29, 2016

(Winston-Salem Journal)

Wexford Science & Technology plans to begin construction this spring on a $40 million redevelopment of a portion of the Bailey Power Plant at Wake Forest Innovation Quarter in downtown Winston-Salem. The real-estate developer plans 110,800 square feet of office, entertainment and retail space.

Wake Forest Baptist, United Healthcare form ACO

March 29, 2016

(Winston-Salem Journal)

Wake Forest Baptist Medical Center has formed an accountable care organization with United Healthcare. The ACO is related to the Winston-Salem health system's pending purchase of High Point's Cornerstone Health Care, a physicians' group with more than 80 locations in the Triad.

Yarn-maker closing China Grove plant

March 25, 2016

(Winston-Salem Journal)

Tuscarora Yarns will close its plant in China Grove by May 9, according to a filing with the N.C. Commerce Department. The plant's 123 workers can apply for jobs at the company's other two plants.

Novant Health seeks to expand Kernersville outpatient center

March 23, 2016

(Winston-Salem Journal)

Winston-Salem-based Novant Health filed a certificate-of-need request for a $9.8 million ambulatory surgical center at its Kernersville campus. The project will not require a public hearing.

Yadkin County reaches settlement with former hospital operator

March 23, 2016

(Winston-Salem Journal)

According to a court filing Monday, Yadkin County has reached a tentative settlement with CAH Acquisition, the operator of Yadkin Valley Community Hospital that abruptly closed in May.