Triad

Airline merger won't affect PTI flights to Washington

November 14, 2013

(The Winston-Salem Journal)

Flights from Piedmont Triad International Airport to Washington's Reagan National will continue, based on a condition of this week's agreement between American Airlines and US Airways and the Department of Justice.

High Point commission supports HPU expansion

November 14, 2013

(High Point Enterprise)

High Point University's request to rezone three areas to accomodate expansion was approved by the city's planning and zoning commission. HPU wants to add space for a proposed school of pharmacy and health sciences, an undergraduate sciences building, residence halls and parking. The City Council will consider the rezoning request on Monday.

Krispy Kreme to open four stores in Alaska

November 13, 2013

(The Winston-Salem Journal)

Alaska will become the 39th state with Krispy Kreme Doughnuts stores since the Winston-Salem company made an agreement with a franchisee to open four shops there. The company now has shops in 22 countries and continues to expand aggressively in international markets.

38 more settlements made with ZeekRewards winners

November 13, 2013

(The Winston-Salem Journal)

The court-appointed receiver in the ZeekRewards.com case has made settlements with 38 more participants who took more money out in the alleged Ponzi scheme than they had paid in. At least 175 net winners have now pledged to return $2.28 million on their winnings.

Winston-Salem radio host to enter race for Hagan's Senate seat

November 12, 2013

(The News & Observer, Raleigh)

Winston-Salem radio host Bill Flynn announced his intent to run for the Republican nomination for Democrat Sen. Kay Hagan's seat, joining N.C. House Speaker Thom Tillis, president of the Baptist State Convention Mark Harris and two other candidates, Greg Brannon and Heather Grant, on the GOP ticket.

Candidates already lining up for Coble's congressional seat

November 11, 2013

(The News & Record, Greensboro)

Rep. Howard Coble just announced his retirement from the U.S. House of Representatives late last week, and already there are rumors of at least five potential candidates for his office.

Triad garage-door maker to be sold to Swedish company

November 8, 2013

(The Winston-Salem Journal)

Amarr Garage Doors, a Winston-Salem-based manufacturer and distributor which employs more than 1,200 including 135 in the Triad area, announced it is being sold to a Swedish company for an undisclosed amount. If regulators approve the sale, Amarr will operate as a subsidiary of ASSA ABLOY Entrance Systems and no layoffs are expected.

Rep. Howard Coble won't run for a 16th term

November 8, 2013

(The News & Record, Greensboro)

U.S. Rep Howard Coble announced he will retire from Congress after the current term. The Greensboro Republican will have served 15 terms when he leaves office next year. Coble said ongoing health issues would limit his ability to campaign effectively. 

Duck Head acquired by Prospect Brands, will operate in Greensboro

November 7, 2013

(The News & Record, Greensboro)

Duck Head clothing and shoe company will move its operations from Richmond, Va. to Greensboro after being acquired by Prospect Brands. Prospect also owns electronic clothing company Gerbing, which is planning to move its headquarters from Greensboro to Stoneville. Terms of the deal were not disclosed.

Ruger's Mayodan operations developing ahead of schedule

November 7, 2013

(The Winston-Salem Journal)

Gun manufacturer Sturm, Ruger & Co. reported third quarter profits of $28.7 million and sales of $170.9 million, a 44.7 percent increase. The Southport, Conn.-based company also said it is ahead of schedule with renovations of its Mayodan plant and already has hired 50 employees there.

RF Micro Devices cuts 20 manufacturing jobs

November 7, 2013

(The News & Record, Greensboro)

Greensboro's RF Micro Devices eliminated 20 manufacturing positions this week, though some affected employees were offered other positions within the company. The company, which makes chips and other components for cell phones and tablets, cut 120 positions in July.

Furniture Brands' top stakeholder plans to submit bid for company

November 6, 2013

(The Winston-Salem Journal)

Furniture Brands International's top stakeholder, Samson Holding Ltd., has indicated it will submit a bid for the bankrupt furniture manufacturer. Samson, which holds a 9.5 percent stake in the company, once held a 14.9 percent stake but it has been selling off stock over the past few months.

R&D expenses result in $12.9 million loss for Targacept

November 6, 2013

(The Winston-Salem Journal)

Winston-Salem-based Targacept reported a loss of $12.9 million in its third quarter compared with a loss of $7.9 million for the same period in 2012. The biotechnology company increased research and development spending in the quarter as a result of three Phase 2b clinical trials it is undergoing.

Quiet hurricane season leads to drop in income for Pike Electric

November 5, 2013

(The Winston-Salem Journal)

Pike Electric Corp. reported a 89 percent drop in net income, mostly due to a decrease in revenue from storm recovery operations. The Mount Airy company received $50.2 million in revenue a year ago from work related to damage from Hurricane Isaac, but only $3.6 million this quarter. Earnings from core construction and engineering were also down slightly.

Zeek rewards claimants could get partial payments in 2014

November 5, 2013

(The Lexington Dispatch)

The court-appointed receiver in the Zeek Rewards case said he will file a motion for some claimants in the case to receive interim payments in 2014. An estimated 840,000 users lost money in the Lexington-based pyramid and Ponzi scheme.

NewBridge Bancorp to merge with CapStone Bank of Raleigh

November 4, 2013

(The Winston-Salem Journal)

Greensboro-based NewBridge Bancorp announced it will acquire CapStone Bank of Raleigh for $63.6 million, expanding its presence in the Triangle market. NewBridge just completed its acquisition of Security Savings Bank of Southport on Oct. 1.

CommunityOne Bank reports first profit since 2010

November 1, 2013

(The News & Record, Greensboro)

Asheboro-based CommunityOne Bank, which was on the verge of collapse two years ago, reported its first profit since 2010. The bank reported earnings of $4 million in the third quarter, compared with a loss of $4.7 million for the same period last year. CommunityOne expanded its presence in Western N.C. by completing a merger with Bank of Granite in June and now operates 53 branches statewide.

Net income rises 14 percent for Hanesbrands

October 31, 2013

(The Winston-Salem Journal)

Winston-Salem-based Hanesbrands reported $125.3 million in net income for the third quarter compared with $109.9 million a year ago despite a 2 percent decline in net sales. It was the apparel company's first quarterly report since its purchase of Maidenform Brands.

Elkin hospital eliminates 31 jobs

October 31, 2013

(The Winston-Salem Journal)

Hugh Chatham Memorial Hospital in Elkin notified employees this week it is cutting 31 jobs, about 3 percent of its workforce of 940. It is the second Surry County hospital to announce cuts this month; Northern Hospital previously announced 12-15 job cuts and work-week reductions for another 15-18 employees.

Hatteras Financial reports third quarter loss of $267 million

October 30, 2013

(The Winston-Salem Journal)

Hatteras Financial Corp., a Winston-Salem-based mortage real estate investment trust, reported a $267.7 million loss for the third quarter, mostly due to a significant loss on the sale of mortgage-backed securities. Hatteras posted net income of $81.9 million for the same period a year ago.