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Western

DMV denies photo ID for 86-year-old Asheville woman

February 12, 2016

(The News & Observer, Raleigh)

The tale of an 86-year-old Asheville woman who applied for a photo ID so she could vote in next month's election — and was turned away — has sparked more debate over the state's voter ID law. "We messed that one up," state DMV Commissioner Kelly Thomas said.

Ingles reports first quarter results

February 10, 2016

(Asheville Citizen-Times)

Net sales declined 1.4% to $951.1 million, but gross profit increased to $225.6 million from $224.4 million during the first quarter of fiscal 2016 at Ingles Markets. The Asheville-based grocery chain is planning capital investments of $100 million to $140 million in 2016.

SC energy company says it can power western NC

February 8, 2016

(Asheville Citizen-Times)

Columbia Energy says it can provide Duke Energy Progress with 523 megawatts of power produced at its Gaston, S.C.-based plant, a deal the South Carolina company says would lead to cheaper power bills for western N.C. residents than Duke's proposed natural-gas plants in Asheville.

Asheville awaits brewery announcement

February 5, 2016

(Asheville Citizen-Times)

Deschutes Brewery will announce in about a month where it plans to build its East Coast brewery. The Bend, Ore.-based beer company is believed to be considering Asheville; Roanoke, Va.; and Charleston and Greenville, S.C. The brewery would create 100 jobs and is expected to become a tourist destination similar to Sierra Nevada's Mills River brewery.

New Belgium pushes back opening of Asheville brewery

February 3, 2016

(Asheville Citizen-Times)

New Belgium has delayed the opening of its $140 million West Asheville brewery by a month. The beer-maker will open its tasting room in March and begin brewery tours in April.

Elkin hospital takes step to stay independent

February 3, 2016

Hugh Chatham Memorial Hospital in Surry County wants to defy the consolidation wave that has left North Carolina with about a dozen independent community hospital. It is among the first two N.C. hospitals to join the Washington, D.C.-based National Rural Accountable Care Organization, a nonprofit that helps smaller hospitals collaborate to become more cost-efficient.

Yarn-maker expanding Morganton operations

February 2, 2016

(The News Herald, Morganton)

Meridian Specialty Yarn Group will build a 100,000-square-foot addition to its yarn plant in Valdese, adding 25 jobs to its existing 140. The $8.5 million expansion will allow the Milwaukee-based company to make raw material it had previously been importing. Meridian will receive two state grants totaling nearly $1.9 million.

Mooresboro zinc plant shuts down, 200 workers laid off

January 28, 2016

(The Daily Courier, Rutherfordton)

Horsehead Holding temporarily ceased operations at its Rutherford County zinc production plant, idling most of its 250 employees. The Pittsburgh-based company opened the $490 million plant less than two years ago.

2015 was record year for Asheville housing market

January 27, 2016

(Asheville Citizen-Times)

The median sale price for a home in Asheville was $242,500, a 7.8% increase over the previous record of $225,000. Low inventory and high demand are creating a sellers' market – on Jan. 5, only 1,187 homes were listed on the market in Buncombe County, the lowest level since 2004.

Sitel closing Asheville call center, 250 layoffs expected

January 22, 2016

(Asheville Citizen-Times)

Sitel, a global business-services company, will move the work done at its Asheville call center to Knoxville, Tenn. About 250 workers will be affected when the center closes, by July 30. Workers who want to transfer will be offered jobs in Knoxville.

Burke County approves incentives for company expansion

January 21, 2016

(The News Herald, Morganton)

Burke County commissioners approved incentives for an unidentified company to bring 25 new jobs over five years. The company, whose name will be revealed Jan. 29, plans to invest $8.5 million in Valdese.

Smokies, Parkway top national attractions

January 19, 2016

(Asheville Citizen-Times)

More than 15 million people visited the Blue Ridge Parkway in 2015, a 7% increase over the year before. The 469-mile parkway, which stretches from Cherokee to Shenandoah, Va., was the National Park Service's most visited attraction while the Great Smoky Mountains was the most visited national park with 10.7 million visitors, a park record.

Environmental groups wary of Duke's plans

January 18, 2016

(Asheville Citizen-Times)

Duke Energy Progress filed plans on Friday for two proposed natural-gas power plants to replace its coal-fired one near Asheville. Some environmental groups are concerned the public won't have enough time to review plans for the $1.1 billion project: Duke has asked the state utilities commission to approve the project by March 1.

Asheville airport adds seasonal service to DC area

January 13, 2016

(Asheville Citizen-Times)

Allegiant Air will begin offering twice weekly flights from Asheville Regional Airport to Baltimore/Washington International, with one-way fares starting at $39. The seasonal flights will operate May 19 through Aug. 16. The airport set a record for passenger traffic last year, with more than 400,000 people boarding flights.

Should Asheville worry over possible New Belgium sale?

January 8, 2016

(Asheville Citizen-Times)

As New Belgium Brewing prepares to open its $140 million brewery in Asheville, reports show the Colorado-based company is looking for a buyer. The beer company has taken on a lot of debt with the construction of its East Coast location and through an employee buyout of the company's founder, Kim Jordan. New Belgium plans to employ about 150 in Asheville once it reaches full brewing capacity.

Another brewery expansion for Asheville

January 7, 2016

(Asheville Citizen-Times)

Burial Beer Company, the maker of beers with names such as The Remains and The Triumph of Death, is investing $1.8 million in a new brewery near Asheville's Biltmore Village. The 3-year-old company plans to hire 17 new employees.

Western NC ski resorts back in business

January 4, 2016

(Asheville Citizen-Times)

After weeks of unseasonably warm weather, ski areas in Western North Carolina are open for business, with temperatures finally cold enough to resume snowmaking. Cataloochee Ski Area will be open expanded hours this week to take advantage of the cold temps.

Asheville area may attract 350-employee auto-parts plant

December 22, 2015

(Asheville Citizen-Times)

Switzerland-based GF Automotive and Linamar, a Canada-based powertrain company, may build a plant with as many as 350 employees over the next several years. A Jan. 4 hearing of the Henderson County Board of Commissioners will “consider economic-development incentives” for the GF Automotive-Linamar collaboration, Wyatt said. The partnership plans to invest $42.3 million in a factory and another $174.9 million in machinery and equipment through 2023, according to public records.

Warm temps hurting NC ski industry

December 16, 2015

(Asheville Citizen-Times)

Wolf Ridge Ski Resort in Madison County hopes to open by Sunday following weeks of warmer-than-expected weather. The resort will lose $100,000 in revenue if it's not able to open Christmas week, says Kathy Bogdanescu, group sales coordinator. The N.C. ski season typically runs from November-March and last year contributed $197.2 million to the state's economy, according to a recent report.

Asheville City Council weighs in on I-26 route

December 11, 2015

(Asheville Citizen-Times)

The Asheville City Council voted unanimously to submit a resolution to the N.C. Department of Transportation that recommends minimizing the size of the $750 million Interstate 26 project. The state's proposal calls for widening Interstate 240 from four to eight lanes in west Asheville.

Charlotte

New call center will create 350 jobs in Charlotte

February 12, 2016

(The Charlotte Observer)

Republic Services will invest $6.8 million in a customer-service center in Charlotte.The Phoenix-based company provides recycling and waste-collection services in 39 states. Republic plans to hire 350 people over the next three years.

BofA stock slides; shares now trading at 2012 levels

February 12, 2016

(The Charlotte Observer)

Shares of Charlotte-based Bank of America were trading at $10.99 Thursday, the lowest since December 2012. Shares closed Thursday at $11.16. Analysts said uncertainty about future interest rate increases are affecting BofA's stock performance, along with declining oil prices and concerns over the global economy.

Charlotte-based manufacturer moving HQ to Phoenix

February 12, 2016

(The Charlotte Observer)

The Carlisle Cos. said it will move its headquarters from Charlotte to Phoenix by the end of 2016. The diversified manufacturer employs about 80 people in its Charlotte office.

Texas hospital exec tapped as new Carolinas HealthCare CEO

February 11, 2016

(The Charlotte Observer)

Charlotte-based Carolinas HealthCare System named Eugene Woods its new chief executive officer. Woods, 51, is president and chief operating officer of Christus Health, an Irving, Texas-based group comprising more than 50 hospitals, and he is chairman-elect of the American Hospital Association. Longtime Carolinas HealthCare CEO Michael Tarwater will retire in June.

CLT breaks passenger record in 2015

February 11, 2016

(The Charlotte Observer)

Charlotte Douglas International Airport saw 44.9 million passengers in 2015, up 1% from the previous year and up 59% from 10 years ago. About 80% of passengers use the airport for connecting flights.

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.

Advertisers won't snub 'sore loser' Newton

February 10, 2016

(The Charlotte Observer)

Cam Newton's sulking press-conference performance after the Super Bowl isn't likely to affect future endorsements, marketing experts say. Forbes estimated Newton earned $10 million in 2015 from endorsements including Under Armour, Beats by Dre and Belk. "I've been on the record to say I'm a sore loser," Newton said Tuesday.

Carolinas HealthCare could name Tarwater's replacement Thursday

February 10, 2016

(The Charlotte Observer)

Carolinas HealthCare System could name its new CEO at a special board meeting Thursday morning. Michael Tarwater, who has led the Charlotte-based hospital system since 2002, is retiring in June.
Related: Carolinas HealthCare CEO was paid $6.6 million

Tyson Foods adding 56 jobs in Monroe

February 10, 2016

(The Charlotte Observer)

Springdale, Ark.-based Tyson Foods will proceed with a $5 million expansion at its chicken processing plant in Monroe. The expansion will add 56 jobs; the company currently employs about 1,500 people at the plant. The city of Monroe and Union County are offering about $225,000 in incentives.

Aquesta preps to open first Wilmington branch

February 9, 2016

(The Charlotte Observer)

Cornelius-based Aquesta Bank received regulatory approval to open its first branch outside the Charlotte metro area. The new Wilmington branch will allow it to build on its presence there; Aquesta opened an insurance-services office there more than eight years ago. Aquesta has seven branches and had $293 million in assets at the end of 2015.

President of NewDominion Bank steps down

February 9, 2016

(The Charlotte Observer)

Marc Bogan, president and chief operating officer of Charlotte-based NewDominion Bank, is leaving to pursue other opportunities, specifically to pursue his dream of becoming CEO of a community bank.

Truslow to become CFO of Charlotte's Park Sterling

February 8, 2016

(The Charlotte Observer)

Don Truslow, former chief risk officer at Wachovia until his retirement from the company in 2008, will become chief financial officer of Park Sterling Bank, replacing David Gaines, who is leaving at the end of March. Truslow most recently was a senior adviser at Deloitte & Touche.

DOT: Work on Charlotte's Independence could resume in March

February 8, 2016

(The Charlotte Observer)

Construction to widen Charlotte's Independence Boulevard could resume by the end of March, according to the N.C. Department of Tranportation. Michigan-based contractor DeVere stopped working on the project last week due to a financial dispute with the state.

Tony Zeiss, president of CPCC, to retire

February 5, 2016

(The Charlotte Observer)

Longtime Central Piedmont Community College President Tony Zeiss said Thursday he will retire in July. Zeiss, 70, has led the Charlotte college since 1992. During his tenure, enrollment soared to 70,000 students and the school grew from one campus to six.

Carolinas HealthCare CEO earns 26% more in 2015

February 5, 2016

(The Charlotte Observer)

Michael Tarwater, CEO of Charlotte-based Carolinas HealthCare System, received $6.6 million in total compensation in 2015 compared with $5.3 million the previous year. A company spokeswoman said part of the increase is related to Tarwater's pending retirement in June. He has worked for the $8 billion hospital system for 35 years.

Lowe's to acquire Canada-based Rona for $2.3B

February 4, 2016

(The Charlotte Observer)

Mooresville-based Lowe's will pay $2.3 billion for Rona, a home-improvement retailer with almost 500 stores. In 2012, the Canadian company rejected a hostile bid by Lowe's. "We're in a much better place than we were in 2012," Lowe's CEO Robert Niblock said.

Wells Fargo cuts more mortgage jobs in Charlotte, Raleigh

February 4, 2016

(The Charlotte Observer)

The San Francisco-based lender is cutting 87 jobs in Raleigh and 68 jobs in Charlotte and Fort Mill, S.C., due to declining foreclosure rates and fewer people defaulting on their home loans. Wells, the largest U.S. mortgage lender, also announced Wednesday it will pay $1.2 billion to settle a mortgage dispute with the federal government.

U.S. Bank quietly expands in Charlotte

February 4, 2016

(The Charlotte Observer)

U.S Bank is moving its anti-money laundering division to a larger office in uptown Charlotte that will accommodate 50-75 people, mostly new hires. The bank, part of Minneapolis-based U.S. Bancorp, employs about 400 people in the Queen City, up from about 100 in 2008.

Google Fiber will be free for pubic housing residents

February 4, 2016

(The Charlotte Observer)

Google Fiber will offer high-speed Internet service to residents of public housing at no charge in the cities where its network is available. The tech giant is rolling out its gigabit Internet service in Charlotte and the Triangle, but has not provided specific dates when the service will be available.

Ally's profit jumps 49%

February 3, 2016

(The Charlotte Observer)

Ally Financial CEO Jeffrey Brown, who is based in Charlotte, said in a conference call Tuesday that a variety of factors could be responsible for the company's poor stock performance, including investors' fears of an auto bubble. The Detroit-based bank reported fourth quarter net income of $263 million, compared with $177 million a year ago.

Triad

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).

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.

Triangle

Report: SEC probe centers on former Salix execs

February 12, 2016

(WRAL TechWire)

Carolyn Logan, the former CEO of Salix Pharmaceuticals, and Adam Derbyshire, former chief financial officer of the Raleigh drugmaker, are subjects of an SEC investigation of the company that centers on inventory and accounting issues that occurred in 2014, according to a Reuters report. Salix was sold last year to Canada-based Valeant Pharmaceuticals for $11 billion.

Group pays $187M for Durham's West Village

February 12, 2016

(The News & Observer, Raleigh)

An affiliate of The Connor Group, an Ohio-based real-estate investment firm, has acquired Durham's West Village for $187 million, according to property records. West Village includes 609 apartments and more than 100,000 square feet of commercial space; it was developed by former Duke basketball stars Christian Laettner and Brian Davis and Tom Niemann, a Duke business school grad.

 

16-story apartment tower planned for Raleigh's North Hills

February 11, 2016

(The News & Observer, Raleigh)

Kane Realty and KBS Realty Advisors will build Park Central, as 252,204-square-foot tower with 286 apartments and 36,400 square feet of ground floor retail at Raleigh's North Hills. The developers expect to complete construction this spring on an 18-story North Hills office tower.

Kellogg's considering $19.5M expansion in Cary

February 10, 2016

(The News & Observer, Raleigh)

The Cary Town Council will hold a public hearing Thursday to consider more than $216,000 in incentives for cereal- and snack-maker Kellogg's to expand its local facility. The company is considering a $19.5 million investment that would increase production; no new jobs are anticipated.

Martin Marietta rocks along, missing earnings estimate

February 10, 2016

The U.S. infrastructure crisis story hasn't panned out for Martin Marietta shareholders over the past decade. The Raleigh-based company reported earnings slightly below estimates Tuesday.

Highwoods plans $40.9M office building in Cary

February 10, 2016

(The News & Observer, Raleigh)

Highwoods Properties will begin construction of a 167,000-square-foot office building in Cary in the second quarter. The $40.9 million project, in the Weston area, should be complete by the third quarter of 2017. The Raleigh-based REIT reported fourth-quarter earnings that beat Wall Street estimates by a penny a share.

BioCryst shares slump after failed drug trial

February 9, 2016

(The News & Observer, Raleigh)

Shares fell 71% Monday after Durham drug developer BioCryst Pharmaceuticals reported that its experimental treatment for a rare genetic disorder failed to help patients in a clinical trial.

Triangle Town Center sells for $174M

February 9, 2016

(The News & Observer, Raleigh)

A joint venture has acquired Triangle Town Center, a shopping mall in north Raleigh, for $174 million. DRA Advisors is the majority owner with a 90% stake; CBL & Associates, which previously held a 50% stake in the mall, now owns 10%. Anchors include Saks Fifth Avenue, Macy's and Sears.

Mark Cuban bets on Southern Pines retailer

February 8, 2016

(The Pilot, Southern Pines)

R. Riveter, a Southern Pines-based handbag company started by two military wives, snagged a $100,000 investment from Texas billionaire Mark Cuban on ABC's Shark Tank. The national TV exposure alone could boost business for the small retailer: Producers told the company to expect 100,000 website hits when the show aired Friday.

Nationwide drops Durham ad agency

February 8, 2016

(The News & Observer, Raleigh)

Nationwide has dropped Durham-based McKinney after a seven-year partnership. McKinney CEO Brad Brinegar said losing the Ohio-based insurer — one of the ad agency's larger clients — will trigger some layoffs though he said it's too early to say how many jobs will be impacted.

Amazon rolls out one-hour delivery service in Raleigh

February 5, 2016

(The News & Observer, Raleigh)

For just $7.99, Amazon Prime members in Raleigh can have their orders delivered within an hour; two-hour delivery is free. Raleigh is among 25 cities where the e-commerce retailer now offers the expedited service. The Prime loyalty program costs $99 a year.

Southern Pines retailer to appear on ABC's Shark Tank

February 5, 2016

(The Pilot, Southern Pines)

R. Riveter, a retailer of handbags and accessories in Southern Pines, will pitch their business to investors on ABC's Shark Tank Friday night at 9 p.m. Co-founders Cameron Cruse and Lisa Bradley, both military spouses, started the company in Cruse's attic making handbags out of recycled military materials. The company now employs 12 people and 12 contractors.

ChannelAdvisor reports record Q4 revenue

February 5, 2016

(The News & Observer, Raleigh)

Morrisville-based ChannelAdvisor surprised analysts when it reported a 24% increase in revenue in the fourth quarter. Quarterly revenue for the e-commerce company totaled $29.4 million, up from $23.8 million a year ago and higher than the $26.5 million analysts had projected. Annual revenue topped $100 million for the first time.

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

Triangle Capital promotes Poole to CEO

February 4, 2016

(The News & Observer, Raleigh)

Triangle Capital co-founder Garland Tucker III has stepped down as CEO; Ashton Poole, president and chief operating officer, will succeed him. Tucker will stay on as chairman of the Raleigh-based investment firm with nearly $1 billion of assets under management.

Wells Fargo cuts more mortgage jobs in Charlotte, Raleigh

February 4, 2016

(The Charlotte Observer)

The San Francisco-based lender is cutting 87 jobs in Raleigh and 68 jobs in Charlotte and Fort Mill, S.C., due to declining foreclosure rates and fewer people defaulting on their home loans. Wells, the largest U.S. mortgage lender, also announced Wednesday it will pay $1.2 billion to settle a mortgage dispute with the federal government.

Google Fiber will be free for pubic housing residents

February 4, 2016

(The Charlotte Observer)

Google Fiber will offer high-speed Internet service to residents of public housing at no charge in the cities where its network is available. The tech giant is rolling out its gigabit Internet service in Charlotte and the Triangle, but has not provided specific dates when the service will be available.

Southern Pines lands on list of America's 50 Best Small Towns

February 3, 2016

(Newsmax)

Southern Pines (population 12,334) in Moore County ranked 25th on a list of the 50 Best Small Towns in America, published by Newsmax, a conservative media organization. Topping the list are Lebanon, New Hampshire; Los Alamos, New Mexico; and St. Augustine, Fla.

Former NationsBank exec joins Raleigh's Paragon Bank

February 3, 2016

(The Charlotte Observer)

Rusty Page is a senior vice president and business-development officer at the Charlotte office of Raleigh's Paragon Bank, which provides private- and commercial-banking services for affluent customers and small and midsized businesses. Page is the former head of investor relations for Charlotte' NationsBank, now Bank of America.

Tax credit could save CSX millions

February 3, 2016

(The News & Observer, Raleigh)

If CSX follows through with plans to build at $272 million cargo hub in Johnston County, the company could benefit from a 50% state tax credit for railroads that spend at least $30 million on terminals. The N.C. Department of Transportation also is considering whether to provide $100 million to help pay for the terminal.

Eastern

Lawmakers study environmental harm of solar panels

February 12, 2016

(WRAL.com)

North Carolina's thriving solar-power industry means the state has massive numbers of solar panels. Lawmakers questioned state environmental officials and company representatives about their impact at a Raleigh hearing.

Wilmington's Live Oak Bank launches e-lending program

February 11, 2016

(Greater Wilmington Business Journal)

Live Oak Bank has completed the beta phase of its new e-lending program, which will allow small businesses within its existing industries to upload loan documents, fill out forms and electronically sign documents.

Wilmington seeks public input on short-term rentals

February 9, 2016

(StarNews, Wilmington)

Wilmington residents appear to be divided over short-term rentals, such as those offered on VRBO.com and Airbnb. It joins other N.C. cities, including Asheville and Raleigh, that will consider developing new rules for the practice.

Aquesta preps to open first Wilmington branch

February 9, 2016

(The Charlotte Observer)

Cornelius-based Aquesta Bank received regulatory approval to open its first branch outside the Charlotte metro area. The new Wilmington branch will allow it to build on its presence there; Aquesta opened an insurance-services office there more than eight years ago. Aquesta has seven branches and had $293 million in assets at the end of 2015.

New Bern hospital undergoing $64M renovation, expansion

February 3, 2016

(New Bern Sun Journal)

Projects underway at the 52-year-old CarolinaEast Medical Center will add more than 30,000 square feet of space and renovate 70,000 square feet. Plans include expanding the ER, improving labor and delivery services, and building two new operating rooms and a cancer-treatment center. Work is expected to be complete in late 2018.

Sanderson Farms plant in Robeson County to open in early 2017

February 3, 2016

(The Fayetteville Observer)

Construction of Sanderson Farms' $145 million chicken plant and nearby $17 million hatchery is underway, according to a spokesman, and the facilities are expected to open in January. The chicken processor said it will create more than 1,100 jobs.

Two TV series filming in Wilmington receive state grants

February 2, 2016

(Greater Wilmington Business Journal)

TNT's Good Behavior and the History Channel's Six could receive up to $13.8 million in state film grants, according to a release from the N.C. Commerce department. The two projects, which will film in Wilmington, are expected to generate more than $57 million in direct in-state spending.

Sheerer named provost at UNC Wilmington

February 2, 2016

(Greater Wilmington Business Journal)

Marilyn Sheerer, interim provost at UNC Wilmington since June, was named to the position on a permanent basis. Sheerer will serve as chief operating officer of the university, which enrolls more than 14,000 students. She succeeds Denise Battles, who left to become president of the State University of New York at Geneseo.

Wilmington's Live Oak Banchares reports strong Q4 earnings

January 29, 2016

(Greater Wilmington Business Journal)

Live Oak Bancshares reported net earnings of $5.7 million in the fourth quarter, compared with $2.4 million for the same period in 2014. The nation's No. 2 SBA lender, Live Oak's net income for the full year was $20.6 million, or 65 cents per diluted share, a 59% increase over the previous year.

CSX not scrapping plans for cargo hub

January 28, 2016

(The News & Observer, Raleigh)

CSX said Wednesday it is still committed to building a $272 million container hub along Interstate 95, despite Gov. Pat McCrory changing his stance on the project that he originally promoted as a boon for economic development in eastern N.C.
Also: Wayne chasing CSX terminal after Johnston site rejected

Anti-drilling advocates lobby on Capitol Hill

January 28, 2016

(The News & Observer, Raleigh)

Actors including Ted Danson and Kate Walsh joined elected officials including Rep. Mark Sanford from South Carolina at an anti-drilling summit in Washington, D.C. The federal government is expected to release by March a five-year plan for offshore oil and gas leases that includes waters off the coast of the Carolinas, Georgia and Virginia. The event was organized by conservation group Oceana.

McCrory: Johnston County site not a viable option for rail hub

January 27, 2016

(The News & Observer, Raleigh)

Gov. Pat McCrory's office said Tuesday the proposed site for a CSX railroad hub in Johnston County may not be a viable option. A spokesman for McCrory said the state will continue to work with CSX to find an alternative site. CSX announced the $272 million project last week, though some landowners don't want to sell their properties to the Jacksonville, Fla., company, which could forcibly purchase the land through the power of eminent domain.

Meanwhile, officials in Wayne County say residents would support a CSX intermodal rail yard either within its borders or in nearby Johnston County.

Wilmington Chamber supports controversial CSX project

January 26, 2016

(Greater Wilmington Business Journal)

The Wilmington Chamber of Commerce issued a statement supporting the proposed CSX intermodal freight hub near Interstate 95 in Johnston County, citing potential benefits to the ports and Eastern N.C. businesses that use them. Johnston County commissioners have said they support the $272 million project, though they are urging CSX to seek an alternative site after some landowners objected to selling their properties to the rail company.

2 successful exits for Wilmington investment group

January 25, 2016

(Greater Wilmington Business Journal)

Wilmington Investment Network experienced nearly a tenfold return when Austin, Texas-based Greenridge Investment Partners in December bought an 80% stake in Consolidated Asset Recovery Systems, a Raleigh-based SaaS (software as a service) company. WIN, a group of 35 Wilmington investors, also received a return on investment in last week's $4.2 million sale of Wilmington's Oak Court Apartments to a Charlotte-based group.

Hoke County ethanol plant lays off 20

January 25, 2016

(The Fayetteville Observer)

Tyton NC Biofuels has ceased production and laid off 20 of its 46 employees. Lower gasoline prices and disappointing local corn production contributed to the decision, according to General Manager Rick Brehm. The company, a partner of Danville, Va.-based Tyton BioEnergy Systems, bought the plant for less than $15 million in 2014, the Fayetteville Observer reported.

Aquesta Financial expanding in Wilmington

January 22, 2016

(Greater Wilmington Business Journal)

Aquesta Financial Holdings will open a second insurance-services office in the Wilmington area and plans to open a full-service bank branch there in the spring. The Cornelius-based company has five bank branches, mostly in north Mecklenburg County, and four insurance-services offices.

Duke Energy sets solar record

January 21, 2016

(The Charlotte Observer)

The Charlotte-based utility installed more than 300 megawatts of solar power in North Carolina in 2015, enough to power 60,000 homes. Duke spent $500 million to acquire four large solar farms, mostly in eastern N.C., and buying solar energy from other developers.

Entity with ties to PPD raises $71M

January 20, 2016

(Greater Wilmington Business Journal)

X-Co Holdings LP raised more than $71 million in a securities offering, according to an SEC filing. X-Co Holdings is listed a biotechnology entity that shares the same address as Wilmington-based Pharmaceutical Product Development, which is owned by private-equity firms The Carlyle Group and Hellman & Friedman.

Wilmington's Next Glass to merge with California software company

January 18, 2016

(Greater Wilmington Business Journal)

Next Glass, the Wilmington-based technology company that provides personalized wine and beer recommendations, is teaming up with Untappd, a Los Angeles-based software company that offers an app for beer enthusiasts. Untappd will become a subsidiary of Next Glass; financial terms were not disclosed.

Enviva keeping close eye on EU probe of its largest client

January 18, 2016

(StarNews, Wilmington)

A spokesman for Maryland-based Enviva says the company isn't too concerned over the European Union's investigation of Drax, the wood-pellet producer's largest customer that is seeking to convert a coal-burning plant to a biomass plant. Enviva last year built a storage facility at Port of Wilmington to ship pellets from its plants in Hertford, Northampton and Sampson counties.