Triad

Akin to become CEO of Cone Health Oct. 1

August 27, 2014

(News & Record, Greensboro)

Terry Akin will become chief executive officer of Greensboro-based Cone Health effective Oct. 1, three months earlier than previously announced. Akin, currently president and chief operating officer, will replace Tim Rice, who is retiring.

Hundreds question safety of fracking at Reidsville hearing

August 26, 2014

(Winston-Salem Journal)

About 450 people turned out Monday for a four-hour hearing on fracking in Rockingham County. About 100 people spoke at the public meeting, the third such one held this month by the state Mining and Energy Commission. The next public hearing will be held Sept. 12 at Western Carolina University.

Cereal maker to open Winston-Salem distribution center

August 26, 2014

(Winston-Salem Journal)

Lakeville, Minn.-based MOM Brands, formerly known as Malt-O-Meal, has leased a 316,000-square-foot space in Winston-Salem where the cereal manufacturer plans to open a distribution center. 

American Heart Association says e-cigs may help smokers quit

August 26, 2014

(The News & Observer, Raleigh)

In a policy statement, the American Heart Association says electronic cigarettes could be used as a last resort to help people quit smoking. The association also recommends more regulation and research into the long-term health effects of e-cigarettes.

Burlington Technologies buys Pa. fabric maker

August 26, 2014

(News & Record, Greensboro)

Gibsonville-based Burlington Technologies acquired Keystone Weaving, a Lebanon, Pa.-based fabric manufacturer. Burlington plans to move Keystone's looms to Gibsonville and consolidate operations, creating 26 jobs.

Lump-sum pension payments boost pay for Novant execs

August 26, 2014

(The Charlotte Observer)

Some executives of Winston-Salem-based Novant Health brought home compensation in 2013 that was up to nine times the amount they made the previous year. The health-care system distributed one-time pension payouts as a result of a switching its retirement plan to one similar to a 401(k).

Coal-ash warnings arrived late, officials say

August 25, 2014

(News & Record, Greensboro)

The director of Rockingham County's emergency management program wonders why Duke Energy officials didn't notify local emergency crews as soon as they discovered a coal-ash spill into the Dan River on Feb. 2. State environmental regulators say they weren't alerted to potential contamination of the area's water supply until about 18 hours after it was first detected by a Duke security guard.

Veterinary supplier creating 47 jobs in Guilford County

August 22, 2014

(Winston-Salem Journal)

MWI Veterinary Supply will open a distribution center in Browns Summit by Oct. 1. The Boise, Idaho-based company will invest $3.15 million and create 47 jobs at the site. The company sells veterinary pharmaceuticals, vaccines and related products.

Guilford officials tell Greensboro Partnership not to rush in choosing new CEO

August 22, 2014

(News & Record, Greensboro)

Guilford County commissioners urged the Greensboro Partnership to take its time in hiring a new leader. The economic-development group plans to change its organizational structure following the retirement of former president and CEO Pat Danahy at the end of the year.

BB&T confirms unspecified number of job cuts

August 21, 2014

(Winston-Salem Journal)

Winston-Salem-based BB&T confirmed Wednesday that it is cutting a small percentage of its workforce, though the company declined to provide the number of affected employees or if any local or state jobs would be eliminated.

Yarn maker expanding in Burlington

August 21, 2014

(Winston-Salem Journal)

CS Carolina will invest $7.3 million and create 22 jobs at a yarn-manufacturing plant in Burlington. The company also plans to move 27 workers from Swepsonville to the Burlington plant.

Creative Loafing Charlotte sold to Triad publisher

August 20, 2014

(News & Record, Greensboro)

Jamestown-based Womack Newspapers Inc., publisher of Greensboro-based YES! Weekly, will acquire Creative Loafing Charlotte. Terms of the deal, expected to close by the end of the month, weren't disclosed.

ZeekRewards receiver looks to reclaim funds from overseas 'net winners'

August 19, 2014

(Winston-Salem Journal)

The receiver in the Lexington-based ZeekRewards.com case received permission to pursue claims from "winners" − those who had a net gain of at least $1,000 in the Ponzi scheme − in foreign countries.

Wal-Mart has until 2019 to fill distribution center jobs

August 19, 2014

(The Times-News, Burlington)

Wal-Mart has until 2019 to hire 450 workers at a new, $85 million Alamance County distribution center in order to receive local incentives. An earlier agreement with local governments would have required the retailer to fill the jobs by 2018, but that was based on an incorrect project completion date. 

 

Mount Airy's Insteel completes $36 million acquisition

August 18, 2014

(Winston-Salem Journal)

Insteel Wire Products, a subsidiary of Mount Airy-based Insteel Industries, acquired selected assets of Bedford Heights, Ohio-based American Spring Wire Corp., the largest North American maker of valve and commercial spring wire, for about $36 million.

Ebola outbreak highlights drugs made from tobacco plants

August 15, 2014

(The News & Observer, Raleigh)

Some drug companies are using "pharming" − producing medicines using genetically modified plants − to develop treatments for diseases including HIV, cancer and viruses including Ebola. Canada-based Medicago, which has a production plant at Research Triangle Park, is testing flu vaccines made with tobacco plants, and Kentucky BioProcessing, a Reynolds American subsidiary, has an Ebola treatment in development.

Drone company gives NC deadline to decide on $6M investment

August 15, 2014

(Winston-Salem Journal)

Drone-maker Olaeris has given state officials until Sept. 25 to commit to a $6 million investment in the startup company, which wants to locate a U.S. headquarters at Smith Reynolds Airport. The company, which is developing unmanned drones for use by law enforcement officials, said it will create 150 high technology jobs over five years.

Drone maker wants to bring 200 jobs to Winston-Salem

August 14, 2014

(Winston-Salem Journal)

A company that develops unmanned aircraft for use by emergency responders and law enforcement officials wants to locate its headquarters and research and development operations in the Triad. It would create about 200 high-technology jobs in its first phase. Olaeris has asked the state Commerce Department to invest $6 million in its products rather than provide traditional incentives.

Reynolds shareholder files suit to block Lorillard acquisition

August 14, 2014

(News & Record, Greensboro)

A Reynolds American shareholder filed a lawsuit in Guilford County that seeks to block the cigarette-maker's proposed acquisition of Greensboro-based Lorillard. The lawsuit claims the deal is bad for public shareholders, and that British American Tobacco, Winston-Salem-based Reynolds' largest shareholder, will benefit at their expense.

NC Biotech Center names Edgeton president

August 14, 2014

(Winston-Salem Journal)

The North Carolina Biotechnology Center named Doug Edgeton president and CEO effective Sept. 2. He was president of Piedmont Triad Research Park, now Wake Forest Innovation Quarter, from 2007 to 2012, and is presently the center's senior vice president for financial planning and development. Edgeton replaces Norris Tolson, who retired June 30.