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).

Yadkin-NewBridge merger could close in March

February 1, 2016

(Winston-Salem Journal)

Yadkin Financial's pending $456 million acquisition of Greensboro's NewBridge Bancorp is on track to close a few weeks earlier than expected. The deal originally was expected to close in the second quarter. NewBridge CEO Pressley Ridgill could receive a golden parachute package of $3.25 million, plus a $1 million consulting fee for three years, according to a regulatory filing.

Caterpillar confirms job cuts in Winston-Salem

January 29, 2016

(Winston-Salem Journal)

About 60 workers lost jobs at Caterpillar's axle-manufacturing plant in Winston-Salem as part of a companywide restructuring. The Peoria, Ill.-based company, which reported an $87 million loss in the fourth quarter, eliminated 8,500 full-time jobs and 3,500 contract jobs in 2015.

Microfibres to close plant, lay off 125 in Winston-Salem

January 28, 2016

(Winston-Salem Journal)

Rhode Island-based Microfibres is ending domestic production and will close its Winston-Salem textile plant. All 125 workers will lose their jobs. The plant once employed 270 people.

Powell charged with four felonies

January 27, 2016

(News & Record, Greensboro)

David Powell, former CEO of the Piedmont Triad Partnership, was charged with two counts of embezzlement and two counts of obtaining property by false pretenses. Powell, 51, led the Greensboro-based economic-development organization from 2011 until his resignation in April.

AIG to spin off Greensboro-based United Guaranty

January 27, 2016

(News & Record, Greensboro)

Insurer AIG said in a news release it will begin an initial public offering this year of up to 19.9% of United Guaranty as the first step toward a full separation. United Guaranty, which provides mortgage insurance for lenders, was founded in Greensboro and employs about 600 people there.

Could Texas oil slump provide opportunity for BB&T?

January 26, 2016

In 2009, BB&T entered Texas as part of its purchase of $20 billion in assets and $22 billion in loans from the failed Colonial Bank. The deal gave it a toehold in Dallas, which BB&T has since expanded to more than 120 branches. Could stumbles in the energy sector lead to even greater opportunity for the Winston-Salem bank?

BNC Bancorp reports record quarterly profit

January 26, 2016

(Winston-Salem Journal)

High Point-based BNC Bancorp reported a 49.8% increase in net income for the quarter and 51.2% for the full year. The lender plans to complete two more acquisitions in 2016, Southcoast Financial and High Point Bank, that will push assets to $6.8 billion and give it a total of 86 branches.

BB&T, National Penn deal expected to close April 1

January 22, 2016

(Winston-Salem Journal)

BB&T expects to complete its $1.8 billion purchase of National Penn Bancshares on April 1, three months earlier than projected. The Allentown, Pa.-based bank has about $9.6 billion in assets and more than 120 branches.
Also: Merger costs push down BB&T's profit for second consecutive quarter

Winston-Salem's Inmar acquires Chicago food analytics firm

January 21, 2016

(Winston-Salem Journal)

Inmar is buying Willard Bishop, a 19-employee analytics and consulting firm in Chicago, for an undisclosed amount. It's the Winston-Salem-based technology company's fifth acquisition since January 2014. Inmar employs about 950 people at its headquarters and about 4,400 across North America.

Greensboro developer Marty Kotis buys downtown property

January 20, 2016

(News & Record, Greensboro)

Marty Kotis, the Greensboro developer who compares his approach to rehabbing buildings to the Extreme Makeover TV show, will pay $900,000 for the city-owned human services building in downtown Greensboro. Kotis said he has no immediate plans for the property.

Reynolds American director Daly to retire

January 18, 2016

(Winston-Salem Journal)

Jack Daly will retire from the board of directors of Winston-Salem-based Reynolds American Feb. 4. It's the board's fifth departure since December 2014. Jerome Abelman, general counsel for British American Tobacco, has been nominated to succeed him.

CSX plans $272 million cargo hub in Johnston County

January 15, 2016

(The News & Observer, Raleigh)

The 450-acre intermodal railroad terminal could attract new employers to eastern N.C. and move more goods through the Port of Wilmington. Jacksonville, Fla.-based CSX is seeking $100 million from the state to help finance the project, which will create 300 construction jobs.
Also: Proposed CSX intermodal terminal would mean boost for port

Winston-Salem's Novant partners with CVS Health

January 15, 2016

(Winston-Salem Journal)

CVS will be able to exchange electronic health records including patients' prescription pickups and MinuteClinic visit summaries with Novant Health's doctors.

Medical products company laying off 250 in Greensboro

January 14, 2016

(News & Record, Greensboro)

ConvaTec, a global medical products company, said it will close its Greensboro manufacturing plant and about 250 people will lose their jobs. The company, whose products include wound dressings and insulin pumps, employs more than 9,000 in 8 countries, according to its website, and is owned by Nordic Capital and Avista Capital Partners.