Triad

Judge denies Phelps' request to halt liquidation of tobacco companies

October 16, 2014

(Winston-Salem Journal)

A U.S. Bankruptcy Court judge denied Calvin Phelps' request to stop the liquidation of three bankrupt tobacco companies he previously owned. Phelps was sentenced to 40 months in federal prison after pleading guilty to fraud charges earlier this year ("Rise and fall of Renegade," October).

High Point-based Stanley Furniture reports 3Q loss

October 15, 2014

(Winston-Salem Journal)

Sales were down 4.9% in the third quarter for Stanley Furniture, partly due to the discontinuation of its Young America bedroom line (Statewide, May). The High Point-based manufacturer reported a loss of $2.26 million compared with a loss of $2.47 million a year ago.

Technimark may bring 224 jobs to Asheboro

October 14, 2014

(News & Record, Greensboro)

Plastics manufacturer Technimark is considering a $46 million expansion that would add 224 jobs to its existing 981 in Randolph County. The county and the city of Asheboro approved $1 million in incentives last week for the locally-based company to build a new factory. 

Acquisitions boost share prices for Hanesbrands

October 13, 2014

(Winston-Salem Journal)

Recent acquisitions of Maidenform and DBApparel have led some analysts to set share price targets for Winston-Salem-based Hanesbrands as high as $125.

 

Greensboro's NewBridge Bank to acquire Premier Commercial

October 10, 2014

(News & Record, Greensboro)

NewBridge Bank will acquire Greensboro-based Premier Commercial Bank in a transaction valued at about $19.8 million. The combined bank will have assets of $2.6 billion. The deal is expected to close in the first quarter of 2015.

Elon School of Law cuts tuition

October 10, 2014

(News & Record, Greensboro)

Elon University School of Law will cut its total tuition by $14,000, change to a seven-trimester schedule and revise its curriculum to emphasize real-world experience. The changes will take effect in fall 2015.

 

Forsyth Tech opens training center at Wake Forest Innovation Quarter

October 9, 2014

(Time Warner Cable News)

Forsyth Technical Community College unveiled a 24,000-square-foot technology center at Wake Forest Innovation Quarter. More than 1,200 students a year will learn work-related skills in fields including biotechnology and nanotechnology at the $7 million center.

 

British tire company plans Davie retreading plant

October 8, 2014

(Winston-Salem Journal)

Dunlop Aircraft Tyres plans to open a 108,000-square-foot plant and create at least 40 jobs in Davie County by early 2016. The Birmingham, England-based company, which retreads tires used on aircraft, would invest $8.2 million in equipment and building upgrades. Davie County and the town of Mocksville approved an incentive package totaling about $212,000.

Thomas Built Buses looks to expand in High Point

October 7, 2014

(News & Record, Greensboro)

Thomas Built Buses wants local governments to help fund an expansion at its High Point plant that could create 236 jobs. The bus maker would invest $10.5 million at the site, which is located on the Randolph-Guilford county line.

Novant cancels plans to buy Halifax Regional

October 6, 2014

(Winston-Salem Journal)

Novant Health has called off its attempt to acquire 204-bed Halifax Regional Medical Center in Roanoke Rapids. The Winston-Salem-based health-care system will continue its management-services contract with the hospital for two more years.

Krispy Kreme announces CFO retirement

October 6, 2014

(Winston-Salem Journal)

Douglas Muir, chief financial officer of Winston-Salem-based Krispy Kreme Doughnuts since 2007, will retire in 2015. Muir's retirement is the fifth change within the company's executive management team since February.

BofA names Ellington president of Triad market

October 6, 2014

(Winston-Salem Journal)

Bank of America Corp. named Greenboro-based Derek Ellington president of its Triad market. He replaces Steve Frost, who retired after 20 years with the bank.

Greensboro's Bell Partners, DRA Advisors sell $1.8 billion apartment portfolio

October 3, 2014

(News & Record, Greensboro)

Greensboro-based Bell Partners and New York-based DRA Advisors sold more than 20,000 apartments to Lone Star Funds for $1.8 billion. The properties were originally part of a joint venture between the two companies. Bell Partners will continue to manage the properties, which are located in 64 communities across the United States.

Novant to exit management of Gaffney, SC hospital

October 3, 2014

(Winston-Salem Journal)

Novant Health signed a letter of intent to allow a subsidiary of Franklin, Tenn.-based Community Health Systems acquire 125-bed Gaffney Medical Center in South Carolina.

Former Wake Forest Baptist CFO takes job in Detroit

October 3, 2014

(Winston-Salem Journal)

Edward Chadwick, who resigned as chief financial officer of Wake Forest Baptist Medical Center June 30, will become CFO of Henry Ford Health System in Detroit.

CFO of Greensboro's VF Corp. to retire in 2015

October 2, 2014

(Winston-Salem Journal)

Robert Shearer will retire as senior vice president and chief financial officer of VF Corp. after 28 years with the Greensboro-based apparel manufacturer. Scott Roe, vice president and chief accounting officer, will succeed him.

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.