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 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.

Perdue adding jobs at Rockingham processing plant

February 9, 2016

(Richmond County Daily Journal)

Perdue Foods will invest $10.9 million in its poultry processing plant in Rockingham, adding 30 jobs over the next three years. Maryland-based Perdue is Richmond County's largest private employer with more than 1,000 workers.

HanesBrands' dive an omen for Panthers' loss?

February 8, 2016

The Panthers weren't the only iconic Tar Heel company to have a bad weekend. HanesBrands shares declined 15% on Friday after the company's earnings and sales missed expectations. Executives blamed warm weather for stunting apparel sales.

Earnings report roundup

February 5, 2016

Old Dominion finished 2015 on solid profit note, Winston-Salem Journal
Hanesbrands posts record 2015 despite softer fourth-quarter sales, Winston-Salem Journal
Credit Suisse announces 4,000 jobs cuts amid big Q4 loss, The Charlotte Observer

Wake Forest Baptist buying High Point physician group

February 4, 2016

(High Point Enterprise)

Wake Forest Baptist Medical Center will purchase Cornerstone Health Care, a High Point-based physicians group with more than 300 providers. Cornerstone will operate as a separate business unit of the Winston-Salem-based hospital; a news release says more details will be provided after a due diligence period.

Full slate of projects for Yadkin commissioners

February 4, 2016

(Winston-Salem Journal)

On Monday, Yadkin County commissioners will consider business incentives for four projects, including manufacturer Lydall, which is considering a $16 million expansion that would create 48 jobs.

Zeek Rewards disbursements total $263.4 million

February 3, 2016

(Winston-Salem Journal)

Attorney Kenneth Bell, the receiver in the $850 million ZeekRewards case, says he has recovered $351.1 million and disbursed $263.4 million to "victims" of the Lexington-based Ponzi scheme ("Bounty hunter," June 2015).