Triad

Koury Corp.'s Showfety to chair Triad Airport Authority

April 23, 2014

(The News & Record, Greensboro)

The president of a Greensboro development and property-management company was named chairman of the Piedmont Triad Airport Authority. Stephen Showfety of Koury Corp. replaces Henry Isaacson, who retired in March after 11 years leading the board.

Charlotte investment firms buys majority stake in Lexington candy-maker

April 23, 2014

(The Charlotte Observer)

Charlotte-based Plexus Capital has bought a majority stake in Lexington-based Piedmont Candy Co., which is famous for its Red Bird peppermint puffs which are sold in grocery and convenience stores. The amount of the investment was not disclosed. The candy company will buy new equipment and expand its product lines.

BB&T posts first quarter profit of $501 million, will raise dividend

April 18, 2014

(Winston-Salem Journal)

BB&T reported a profit of $501 million for the first quarter and will raise its quarterly dividend a penny to 24 cents. CEO Kelly King cited strong insurance revenues and commercial loan growth for the profit increase.

Cameron returns as CEO of Reynolds American

April 17, 2014

(The Charlotte Observer)

Reynolds American has named board member Susan Cameron chief executive officer effective May 1. She previously served as CEO of the Winston-Salem-based tobacco company from 2004 to 2011 before she retired. Cameron will replace Daniel Delen who is retiring.

Greensboro's Forest Oaks club to reopen with new management

April 17, 2014

(The News & Record, Greensboro)

Forest Oaks Country Club in Greensboro will reopen under new management Thursday. The private club was closed on Tuesday after management company ES2 Sports & Leisure declared bankruptcy. A majority shareholder has enlisted a Florida-based company to manage the club.

RF Micro, TriQuint reveal consolidation plans

April 16, 2014

(Winston-Salem Journal)

The new company formed when Greensboro-based RF Micro Devices acquires Hillsboro, Ore.-based TriQuint Semiconductor will be called Rocky Holding Inc., and the two companies will operate as subsidiaries with dual headquarters. RF Micro CEO Robert Bruggeworth will serve as president and chief executive. Pending shareholder and regulatory approval, the $1.56 billion deal is expected to close in the second half of the year.

Hanes plant in Winston-Salem being demolished; mixed-use project to take its place

April 16, 2014

(Winston Salem-Journal)

Demolition is nearly complete on the 550,000-square-foot Winston-Salem Hanes plant that has been shuttered since 2007. The 26.5-acre tract will become Hanestowne Village, a mixed-use development that will include restaurants, retail and medical offices (Regional Report, January 2014). The first phase of the new project is expected to be complete by year-end. 

Proehlific Club closed after management company declares bankruptcy

April 16, 2014

(The News & Record, Greensboro)

Greensboro's Forest Oaks Country Club, which has been marketed under the Proehlific Club name since March 2013, is closed indefinitely after management company ES2 declared bankruptcy. 

1,200 apply for call-center jobs in High Point

April 15, 2014

(The News & Record, Greensboro)

APAC Customer Services received 1,200 applications for 500 call-center jobs the company needs to fill by July. The jobs will service a "major communications company" at the company's High Point service center. 

Herbalife reported to be under FBI investigation

April 15, 2014

(The News & Record, Greensboro)

Los Angeles-based Herbalife, which is planning to open a manufacturing plant in Winston-Salem, is the subject of a criminal investigation by the U.S. Department of Justice and the FBI according to various media outlets. The Federal Trade Commission is also investigating the nutritional-products company, which hedge fund manager Bill Ackman has accused of running a pyramid scheme.

Wake Forest Baptist may cut 1,000 jobs

April 14, 2014

(The Winston-Salem Journal)

Wake Forest Baptist Medical Center could cut anywhere from several hundred to more than 1,000 jobs as early as this week, according to multiple company employees. The Winston-Salem-based hospital, Forsyth County's largest employer with about 13,000 employees, has cut 950 jobs since 2012 when it began a new initiative to reduce expenses.

Triad labs top state list for Medicare reimbursements

April 14, 2014

(The News & Record, Greensboro)

Three Triad clinical laboratories received the most Medicare reimbursements in North Carolina in 2012, with Burlington's LabCorp topping the list with $157 million. Two Greensboro labs, Ameritox and Solstas Lab Partners, came in second and third receiving $86.8 million and $77 million respectively. 

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.