Triad

Philip Morris decision could impact Reynolds' approach to sourcing

November 6, 2014

(Winston-Salem Journal)

R.J. Reynolds Tobacco Co. could feel increased pressure to streamline its supply chain following Philip Morris International's decision to buy U.S. tobacco leaves from only two suppliers, Morrisville-based Alliance One International and Richmond, Va.-based Universal Corp. Labor advocates have pressured Reynolds for years to improve working conditions at tobacco farms.

Wake Forest Baptist gets another credit downgrade

November 6, 2014

(Winston-Salem Journal)

Standard & Poor's Ratings Services lowered the bond rating for Wake Forest Baptist Medical Center from A+ to A. The report says the downgrade was due to the medical center's "weak operating performance." The bond rating credit service lowered its rating to A+ from AA in its last review on Nov. 1, 2013.
Related: "Baptist gets a fiscal," August

Greensboro Partnership picks search firm for new CEO

November 6, 2014

(News & Record, Greensboro)

The Greensboro Partnership has hired national recruiting firm Jorgenson Consulting to lead the search for its new president and CEO. Pat Danahy, current CEO of the economic-development association, announced in August he will retire at the end of the year (Statewide, October).

Aerospace advocacy group looks beyond Triad

November 5, 2014

(Winston-Salem Journal)

A new Greensboro-based nonprofit organization aims to develop a strategy for increasing growth prospects for aviation- and aerospace-related jobs across North Carolina. N.C. Aerospace was formed as part of the Piedmont Triad Partnership, but will likely become independent in 2015, allowing it to grow beyond the Triad region.

New technology leads to pay cuts for medical secretaries at Novant Health

November 5, 2014

(Winston-Salem Journal)

Winston-Salem-based Novant Health said it is cutting pay for medical secretaries, whose workloads have been reduced following the health system's rollout of an electronic medical records system. A total of 157 employees in Charlotte and Winston-Salem are affected. 

High Point didn't get its money's worth out of La-Z-Boy deal

November 4, 2014

(High Point Enterprise)

The city of High Point gave La-Z-Boy $600,000 in incentives to move a divisional headquarters there from Greensboro in 2007, and, according to city records, had received only $173,076 in tax and utility revenues through June 2013. The furniture manufacturer is closing the headquarters, where it employs 38 people, over the next two years as part of a restructuring.

Elon University to begin campus expansion projects

November 4, 2014

(News & Record, Greensboro)

Elon University will begin construction in December on a 14,850-square-foot recreation building that will house a gymnasium and fitness center. The school also plans to renovate and expand an arts building and a residential complex. All three projects are expected to be completed by fall 2015. 

Winston-Salem-based Inmar acquires digital-coupon company

November 3, 2014

(Winston-Salem Journal)

Inmar purchased Madison, Wis.-based digital-coupon company Hopster for an undisclosed amount. Hopster offers print-at-home coupons for brands including Kleenex, Huggies and Libby's. Winston-Salem-based Inmar employs about 4,000 people nationwide, including about 900 at its local headquarters.

Ruger profits down 76% due to decreased demand for firearms

October 31, 2014

(Winston-Salem Journal)

Southport, Conn.-based Sturm, Ruger & Co. reported a 76.3% decrease in net income in the third quarter due to a sharp drop in firearms sales. The gun-maker plans to create 473 jobs at its Mayodan plant, though decreasing demand for its products could force it to scale back expansion plans.

 

Heritage Home Group shifting production jobs to Lenoir

October 31, 2014

(Winston-Salem Journal)

Heritage Home Group will move operations from a leased production plant in Hickory to a company-owned plant in Lenoir. All 255 employees at the Hickory plant will be offered jobs at the Lenoir plant. 

Cone Health ranks highest in patient safety among Triad's large hospitals

October 29, 2014

(Winston-Salem Journal)

Greensboro's Cone Health is the top-ranked large hospital in the Triad when it comes to patient safety, according to the Leapfrog Group's latest semiannual report. The Moses Cone Hospital received an A grade, while Novant Health Forsyth Medical Center and Wake Forest Baptist Medical Center received B grades. Leapfrog reviews 28 measures of patient safety when compiling its report.

La-Z-Boy to close division office in High Point

October 29, 2014

(High Point Enterprise)

La-Z-Boy will close its High Point office as a result of a corporate restructuring of its casegoods business. Some of the furniture manufacturer's 38 employees in High Point will be offered positions at the company's Hudson plant.

Triad region must adapt to changes in manufacturing industry

October 29, 2014

(News & Record, Greensboro)

A recent White House report highlights some of the Triad region's struggles to maintain and grow its manufacturing workforce, including encouraging young people to pursue careers in the industry.

Drone maker seeks millions from Winston-Salem

October 28, 2014

(Winston-Salem Journal)

Drone maker Olaeris has asked Winston-Salem to provide more than $5 million over five years to bring its company and about 150 jobs to Smith Reynolds Airport. Olaeris, which plans to market its unmanned aircraft to law enforcement groups and first responders, has asked the state to invest $6 million. Chief executive Ted Lindsley says he is in talks with local governments in two other states.
Related: Will North Carolina be the first in unmanned flight? ("Pie in the sky," September)

Reynolds American may sell Doral in tobacco merger

October 28, 2014

(Winston-Salem Journal)

Reynolds American may have to include its Doral cigarette brand as part of its divestiture to Imperial Tobacco Group in order to receive Federal Trade Commission approval for its proposed acquisition of Greensboro-based Lorillard. Winston-Salem-based Reynolds has already agreed to sell Kool, Salem and Winston brands as well as Lorillard's blu eCigs electronic-cigarette brand.

Industry report shows furniture manufacturing returning to US

October 27, 2014

(High Point Enterprise)

A new report shows that offshoring is losing its appeal with American manufacturers as labor costs rise in Asia. Other reasons manufacturers are bringing jobs back the U.S. include access to skilled labor, lower transportation costs and ease of the business environment. The report notes that Mexico – which has lower manufacturing costs than China – is continuing to emerge as an industry leader.

Herbalife exec says company will be exonerated

October 27, 2014

(Winston-Salem Journal)

The CFO of Los Angeles-based Herbalife says he believes the company will be exonerated of accusations by hedge-fund manager Bill Ackman that it operates as a pyramid scheme. The company, which sells nutritional and weight-loss products, has hired about 300 employees at its new Winston-Salem manufacturing plant, where it eventually plans to employ 493 people.

Thomas Built Buses adding 236 jobs in High Point

October 24, 2014

(Winston-Salem Journal)

Thomas Built Buses confirmed Thursday it will add 236 jobs and invest $11.8 million in an expansion of its High Point plant, where it currently employs about 1,400 full- and part-time workers. The company will receive $372,098 in local incentives – it didn't request state incentives for the expansion.

TIMCO changes name to Haeco

October 24, 2014

(News & Record, Greensboro)

Greensboro's TIMCO Aviation is now called Haeco. Hong Kong Aircraft Engineering Co. paid $338.8 million for TIMCO in 2013 and now operates its worldwide companies under the Haeco Group name. The company maintains and repairs jet airplanes and employs about 1,800 in the Triad.

Reynolds American to ban smoking in the workplace

October 23, 2014

(WRAL.com)

Beginning next year, Reynolds American will no longer allow employees to smoke cigarettes, cigars or pipes in offices and other common areas. The Winston-Salem-based cigarette maker will add indoor smoking areas for those who want to light up. The company will allow the use of electronic cigarettes and other smokeless tobacco products.