Triad

Developer plans to announce High Point corporate-park tenant next month

March 13, 2014

(High Point Enterprise)

The developer of a new corporate park in High Point said he expects to announce the name of its first tenant by mid-April. According to city documents, a 1.2 million-square-foot warehouse and distribution center are planned for the site, and Ralph Lauren Corp. has been rumored to be the center's soon-to-be occupant. 

Herbalife faces FTC investigation

March 13, 2014

(The News & Record, Greensboro)

Los Angeles-based Herbalife, which plans to open a $130 million plant in Winston-Salem this year, said it has received a civil investigative demand from the Federal Trade Commission. The company, which sells nutritional supplements, has been accused of operating a pyramid scheme by hedge-fund manager William Ackman. 

Fourth-quarter earnings strong for Krispy Kreme

March 13, 2014

(The Winston-Salem Journal)

Fourth-quarter net income for Winston-Salem-based Krispy Kreme Doughnuts increased to $14.7 million compared with $4.8 million a year ago. 

Lexington Medical Center names Bill James president

March 12, 2014

(The Winston-Salem Journal)

Bill James will become president of Lexington Medical Center, an affiliate of Wake Forest Baptist Medical Center, effective April 21. James served 19 years as president and chief executive of Mount Airy's Northern Hospital of Surry County. 

Prospect Brands to move headquarters to Greensboro

March 12, 2014

(The News & Record, Greensboro)

Stoneville-based Prospect Brands, parent company of Gerbing and Duck Head, is moving its headquarters to Greensboro despite declining a $150,000 incentive offer from the city in January. The company plans to re-launch the Duck Head brand, which had been exclusive to Goody's retail stores until that company declared bankruptcy in 2009, later this year.

Burlington outlet center to be auctioned

March 12, 2014

(The News & Record, Greensboro)

Burlington Outlet Village, a 24-acre site that struggled financially since Tanger Outlets opened a shopping center in Mebane, is in foreclosure and will be auctioned off on March 20.

Motley Fool says merger of tobacco companies makes sense

March 11, 2014

(The News & Record, Greensboro)

Online investment site The Motley Fool says a merger between Winston-Salem-based Reynolds American and Greensboro-based Lorillard would protect Lorillard as federal scrutiny of menthol cigarettes, which account for about 80% of Lorillard's sales, increases. A merger also would give Reynolds short-term growth and improve its market share in electronic cigarettes.

NJ-based Quest completes acquisition of Greensboro's Solstas Lab Partners

March 11, 2014

(The Winston-Salem Journal)

Madison, N.J.-based Quest Diagnostics has completed its $570 million acquisition of Greenboro-based Solstas Lab Partners. Solstas employs about 850 people in the Triad; it is still unknown how many jobs may be eliminated due to the merger.

Survey says 13% of Winston-Salem companies plan to hire in second quarter

March 11, 2014

(The Winston-Salem Journal)

A new report from Manpower Inc. reveals that 13% of Winston-Salem employers plan to hire more workers during the second quarter of 2014. 

Duke Energy reports almost 100,000 still without power

March 10, 2014

(The News & Record, Greensboro)

Duke Energy reported Sunday evening that fewer than 100,000 customers statewide are without power, down from about 400,000 after last week's ice storm. Guilford County has nearly 41,000 outages, followed by Alamance County with nearly 27,000. The utility says power should be restored to most customers by Wednesday.

Elon University celebrates 125th anniversary

March 10, 2014

(The News & Record, Greensboro)

Elon University, the state's third largest private university with 6,300 students, is celebrating the 125th anniversary of its founding. 

Elkin hospital announces partnership with Novant Health

March 5, 2014

(The Elkin Tribune)

Hugh Chatham Memorial Hospital announced a partnership with Winston-Salem-based Novant Health. The shared services agreement will give the Elkin hospital better supply-chain and corporate resources. No layoffs are expected as a result of the agreement.

Reynolds-Lorillard deal could lead to job cuts in the Triad

March 5, 2014

(The Winston-Salem Journal)

An industry analyst says a merger between Winston-Salem-based Reynolds American and Greensboro-based Lorillard could lead to hundreds of job losses in the Triad. 

Trader Joe's representative says company won't open Greensboro store

March 5, 2014

(The News & Record, Greensboro)

After protests and public debate over plans for Trader Joe's to open its first grocery store in Greensboro, a company spokeswoman says the Monrovia, Calif.-based company is no longer interested in the proposed site or any other locations in Greensboro. 

British media outlets say Reynolds American may acquire Lorillard

March 4, 2014

(The Winston-Salem Journal)

Two British media outlets reported that Winston-Salem-based Reynolds American could offer $18 billion to $22 billion to purchase rival Lorillard. The two tobacco companies are reported to be in negotiations, though neither company would comment on the speculation.

BB&T now 12th largest bank in the nation

March 4, 2014

(The Winston-Salem Journal)

On a quarterly report issued by SNL Financial, BB&T moved up a spot to become the 12th largest U.S. bank. The Winston-Salem-based bank reported $182.3 billion in total assets, up $300 million from the previous report in November.

Receiver in Lexington-based Ponzi scheme sues former execs, key players

March 4, 2014

(The Lexington Dispatch)

The court-appointed receiver in the Zeek Rewards case filed lawsuits against former company executives and a group of the largest "winners" in the Ponzi scheme to try to recover an additonal $200 million. 

Ruger to make new product lines at Mayodan plant

February 27, 2014

(The Winston-Salem Journal)

Production at Sturm, Ruger & Co.'s firearms manufacturing plant in Mayodan will increase this year, as the company adds new products including new styles of pistols and rifles. The company, which bought the plant in September, currently employs less than 100 but plans to create a total of 473 jobs within five to six years. 

Wake Forest institute leads $75 million project to help wounded soldiers

February 26, 2014

(The Winston-Salem Journal)

The Wake Forest Institute of Regenerative Medicine, leading a consortium of more than 30 research institutions, has begun the second phase of a $75 million Department of Defense project that helps soldiers who suffer from severe burns and loss of limbs.

Allison stepping down from BB&T's board

February 26, 2014

(The Winston-Salem Journal)

John Allison, former chief executive of BB&T, will leave the company's board of directors on April 29. Allison plans to spend more time with his work at the Cato Institute, where he serves as president and chief executive.