Triad

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.

Herbalife reports lower fourth-quarter profits

February 26, 2016

(Winston-Salem Journal)

Lower global sales led to an 18.2% drop in fourth-quarter net income for nutritional products manufacturer Herbalife, which employs more than 400 people at a Winston-Salem manufacturing plant.

BB&T to pay $500M for insurance broker Swett & Crawford

February 25, 2016

(Winston-Salem Journal)

BB&T announced its second largest insurance acquisition on Wednesday. The Winston-Salem bank is buying Swett & Crawford from London-based Cooper Gay Swett & Crawford in a $500 million deal that will increase insurance revenue by $200 million, or 15%. BB&T is the fifth largest U.S. insurance broker.

California furniture company to open Greensboro plant

February 24, 2016

(Winston-Salem Journal)

CH Living will open a 180,000-square-foot plant in Greensboro that will be used for manufacturing and distribution of upholstered furniture. The Oxnard, Calif.-based company plans to hire 50 workers by late March; employment could reach 200 when the plant reaches full production.

Shareholders OK NewBridge-Yadkin merger

February 24, 2016

(News & Record, Greensboro)

Shareholders of both companies approved Yadkin Financial's $456 million bid for Greensboro-based NewBridge Bancorp. The deal is expected to close March 1, creating a company with $7.2 billion in assets and 110 branches.

Hearing on US 64 Bypass draws a crowd in Asheboro

February 24, 2016

(Asheboro Courier-Tribune)

Asheboro residents attended a public hearing Tuesday to learn about the planned U.S. 64 Bypass, a $224 million project that would ease congestion and speed up traffic from Raleigh to Lexington. Also planned is a connector road for the N.C. Zoo. While some residents were concerned about how the bypass would affect their properties, others felt they had gotten a fair deal from the state.

VF rebounds after global warming scare

February 23, 2016

Greensboro-based VF Corp. missed its quarterly earnings estimate last week, prompting the CEO to blame record warmth. Investors panicked, but shares headed back up Monday as investors studied the company's long-term record.

The latest from Kingsdown: Farm-fresh mattresses

February 22, 2016

(News & Record, Greensboro)

Mebane-based Kingsdown is using natural wool from local sheep farms, including Burlington's Stoney Mountain, in its newest line of high-end mattresses. Prices start at $10,000 for a queen set.
Related: "Keeping the temper down,"cover story, May 2015

Wake Forest researchers reach milestone in tissue regeneration

February 22, 2016

(Winston-Salem Journal)

Researchers at Wake Forest Institute for Regenerative Medicine said last week they have created tissues with 3D bioprinters that have been successfully implanted in animals. The goal is to use the technology to print living tissue and organ structures that can be implanted in humans.
Click here to read more about regenerative medicine and the future of health care in N.C.

Qorvo plans $500M stock buyback

February 19, 2016

(News & Record, Greensboro)

Qorvo has agreed to repurchase $500 million of its common stock, half of which will be subject to a maximum and minimum share price. The technology company, with dual headquarters in Greensboro and Hillsboro, Ore., announced in November a $1 billion repurchase.

ZeekRewards receiver to pursue $13M from financial institutions

February 19, 2016

(Winston-Salem Journal)

A U.S. Bankruptcy Court judge said Kenneth Bell, the receiver in the ZeekRewards.com case, can pursue up to $13.17 million from VictoriaBank of Moldova and two payment-processing companies. The Lexington-based company was shut down in 2012 after investigators uncovered the $850 million pyramid scheme ("Bounty Hunter," June 2015).

ITG plans to lay off former Lorillard workers

February 18, 2016

(News & Record, Greensboro)

ITG Brands said Wednesday it will lay off an unspecified number of workers in Greensboro as contracts to produce brands for Reynolds American expire in June. ITG acquired Lorillard's cigarette plant last year as part of the $27.4 billion merger of Reynolds and Lorillard.

Yadkin Bank sweetens merger deal with special dividend

February 17, 2016

(Winston-Salem Journal)

Yadkin Financial will issue an "extraordinary" dividend of 50 cents for shareholders, who are scheduled to vote next week on the Raleigh bank's $456 million purchase of Greensboro's NewBridge Bancorp. Regulators have approved the merger, which will create a company with $7.1 billion in assets.

Piedmont Triad Partnership touts big opportunities for region

February 17, 2016

(News & Record, Greensboro)

The Piedmont Triad Partnership CEO Stan Kelly said Tuesday that locations such as Whitaker Park in Winston-Salem, Piedmont Triad International Airport and two megasites could attract big employers to the Triad and have the potential to transform the region's economy.

Kotis Properties unveils plans for Midtown Greensboro project

February 16, 2016

(News & Record, Greensboro)

The first two phases of on new mixed-use project in Greensboro's Midtown area will cost about $60 million and will include an eight-story apartment complex, 26,000 square feet of retail space, a rooftop terrace and a hotel.

Krispy Kreme adding 7 shops in Maine, New Hampshire

February 16, 2016

(Winston-Salem Journal)

The expansion will give the Winston-Salem company a presence in all but seven states: Massachusetts, Minnesota, North Dakota, Rhode Island, South Dakota, Vermont and Wyoming still don't have a Krispy Kreme doughnut shop.

Ralph Lauren could hire laid off distribution workers

February 15, 2016

(Winston-Salem Journal)

XPO Logistics will eliminate 108 jobs in Whitsett due to the expiration of a distribution contract with Ralph Lauren Corp., but the New York-based company said it plans to hire many of the affected workers at its new 843,000-square-foot facility in Forsyth County, which is expected to open in the fall.

Fresh Market shares jump amid talk of Kroger bid

February 12, 2016

(The Charlotte Observer)

Shares of Greensboro-based The Fresh Market closed Thursday up 22% after Reuters reported that Kroger is looking to buy the company. The Cincinnati grocery chain, which acquired Matthews-based Harris Teeter in 2014, is in the second half of an auction process for Fresh Market, according to the report.

Randolph rezones megasite land for industrial use

February 11, 2016

(News & Record, Greensboro)

Randolph County commissioners voted 3-2 to rezone nearly 1,500 acres of a proposed megasite to allow for heavy industrial use. City and business leaders hope the site will attract an automaker or other large-scale manufacturer. The North Carolina Railroad Company said in January it was buying 875 acres of the site for $13 million.

NC fines Duke Energy $6.6M over coal-ash spill

February 10, 2016

(The News & Observer, Raleigh)

Two years after a stormwater pipe ruptured and 39,000 tons of coal ash flowed into the Dan River, the N.C. Department of Environmental Quality fined Duke Energy $6.6 million for violations related to the spill.