Triad

Burlington's LabCorp completes acquisition of Pathology

March 22, 2016

(The Times-News, Burlington)

LabCorp has completed its purchase of assets of Pathology Inc., a Torrance, Calif.-based lab that offers medical testing and services for women. Terms of the deal were not disclosed.

ITG Brands begins layoffs in Greensboro

March 21, 2016

(Winston-Salem Journal)

The third-largest U.S. tobacco company has cut 20 salaried jobs in Greensboro. ITG Brands warned employees last month that job cuts were coming but didn't provide a timeline. ITG has about 1,700 workers in Greensboro, including 1,100 production workers.

Megasite skeptics to join Randolph commissioners

March 21, 2016

(News & Record, Greensboro)

Randolph County voters last week elected two county commissioners who are expected to take a more critical look at the Greensboro-Randolph Megasite than their predecessors. Republicans Kenny Kidd and Maxton McDowell will run unopposed in November, all but ensuring they will join the commission at year-end.

HondaJet approved for delivery in Mexico

March 18, 2016

(News & Record, Greensboro)

Honda Aircraft has received certification to begin delivering its HondaJet light aircraft in Mexico. The company received FAA certification in the U.S. in December and delivered its first jet on Dec. 23. Honda Aircraft employs about 1,700 people at its Greensboro manufacturing plant.

State approves Center Point-Cardinal merger

March 18, 2016

(Winston-Salem Journal)

N.C. Health Secretary Rick Brajer said Thursday the merger is part of a strategy to reduce the number of behavioral-health managed care organizations to four from eight. Kannapolis-based Cardinal Innovations Healthcare Services is the state's largest behavioral-health MCO, providing care for 2.4 million N.C. residents. Some administrative positions at Winston-Salem-based CenterPoint could be eliminated after the merger.

NewBridge to pay $10 million in ZeekRewards settlement

March 17, 2016

(Winston-Salem Journal)

A day before its acquisition by Raleigh's Yadkin Financial, NewBridge Bancorp reached a settlement agreement with the receiver in the ZeekRewards.com case related to the funds the Greensboro-based bank handled for Rex Venture Group, the entity behind the the Lexington-based pyramid scheme (cover story, June).

Longtime CEO of Members Credit Union to retire

March 16, 2016

(Winston-Salem Journal)

Jack Braswell Jr., president and CEO of Winston-Salem-based Members Credit Union, will retire in September. Braswell first joined the credit union in 1979 and became CEO in 1991. During his tenure, assets have grown from $59 million to $265 million and membership has nearly doubled. Executive Vice President Bob Donley will succeed him.

Krisy Kreme exec announces retirement

March 15, 2016

(Winston-Salem Journal)

Cynthia Bay, senior vice president of U.S. franchises and company store at Krispy Kreme Doughnuts, will retire on March 31. Bay, 57, joined the company in 2008. It's the sixth executive leadership change since February 2013 at the Winston-Salem-based company. Bay's replacement has not been named.

The Fresh Market to be acquired by Apollo Global Management

March 14, 2016

(Bloomberg.com)

An affiliate of Apollo Global Management will acquire Greensboro-based grocer The Fresh Market for about $1.36 billion, or $28.50 per share, a 24% premium over The Fresh Market's closing price on Friday.

Thomas Built Buses adding 200 jobs in High Point

March 10, 2016

(myfox8.com)

Thomas Built Buses is adding a second shift at its High Point plant, resulting in the addition of 200 jobs. The bus-maker is seeking welders, robotic technicians and skilled mechanics. Thomas is a subsidiary of Daimler Trucks North America.

Reynolds leads industry in cigarette sales growth

March 10, 2016

(Winston-Salem Journal)

Sales of traditional cigarettes increased 4% in February for Reynolds American, compared with a 2.4% increase for the industry as a whole, according to Wells Fargo analyst Bonnie Herzog. Sales of Newport rose 5.5%, while Camel sales rose 3.3% and Natural American Spirit rose 22.9%.

Supreme Court rejects BB&T, others in tax case

March 9, 2016

(The Charlotte Observer)

The U.S. Supreme Court rejected three separate appeals by Bank of New York Mellon, AIG and a unit of BB&T. The companies were seeking to overturn previous rulings that invalidated a tax-avoidance strategy developed by Barclays. Winston-Salem-based BB&T was trying to recoup $600 million from the IRS.

Report fuels speculation of BAT acquistion

March 8, 2016

(Winston-Salem Journal)

A London newspaper reported that British American Tobacco could be preparing for an acquisition, triggering speculation that the tobacco company could be planning a bid for Imperial Brands, which operates ITG Brands in Greensboro, or a majority ownership in Reynolds American. BAT owns 42% of Reynolds.

'Woz' named Innovator in Residence at HPU

March 8, 2016

(The News & Observer, Raleigh)

Apple co-founder Steve Wozniak was named Innovator in Residence at High Point University. "Woz" will visit HPU's campus each year and will offer advice to students digitally.

Reynolds CEO earns 52% more in 2015

March 7, 2016

(Winston-Salem Journal)

Susan Cameron earned a salary of $1.38 million in 2015, up 52.4% from the previous year when she only worked for seven months, according to a preliminary proxy filing last week. The Reynolds American CEO returned in May 2014 to oversee the cigarette company's acquisition of Greensboro-based Lorillard. Cameron's total compensation in the year before she retired in February 2011 was $23.8 million.

Grizack convicted of fraud charges in Forsyth County

March 4, 2016

(Winston-Salem Journal)

William John Grizack pleaded guilty to fraud charges Thursday and agreed to pay $235,000 to his previous employer, Pave Advertising and Design in Winston-Salem, and another company, McKinney Ventures LLC in Durham. In 2012, Grizack fabricated $269 million in contracts so he could become partner at Pave, now known as The Variable.

Greensboro developer plans downtown skyscraper

March 3, 2016

(News & Record, Greensboro)

Greensboro developer Roy Carroll has completed the purchase of a downtown lot where he is planning an $80 million project that could include retail space, a hotel and offices.

Yadkin, NewBridge complete merger

March 2, 2016

(Greater Wilmington Business Journal)

Raleigh-based Yadkin Financial completed its acquisition of Greensboro's NewBridge Bank, creating a combined company with assets of $7.3 billion and 110 branches in the Carolinas.

BB&T headquarters building is potential forfeiture target

March 1, 2016

(Winston-Salem Journal)

BB&T's Winston-Salem headquarters building was listed among potential forfeiture targets if co-owner Ty Rhame is convicted in an international money-laundering scheme. An attorney for co-owner Ray Gee — who is not involved in the case — said Rhame's indictment won't affect short or long-term operation of the building. Gee and Rhame paid $60 million for the building in 2014.

Yadkin County seeks more money to reopen hospital

March 1, 2016

(Winston-Salem Journal)

In a legal filing, Yadkin County officials said it could cost more than $6.2 million to reopen the shuttered Yadkin Valley Community Hospital, and former operator HMC/CAH, based in Kansas City, should help pay. HMC/CAH closed the 20-bed hospital in May and a legal battle ensued.