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Western

Moog Music CEO hopes festival will promote Asheville as creative place to work

April 17, 2014

(Asheville Citizen-Times)

Moog Music CEO Mike Adams hopes this month's Moogfest festival will help visitors see Asheville as a place to work creatively. The five-day electronic music festival that will add a technology expo this year is being likened to a smaller version of the South by Southwest festival in Austin, Texas. Gov. Pat McCrory will be in Asheville to kick off Moogfest, which begins April 23.

Buck Stove to add up to 50 jobs at Mitchell County manufacturing plant

April 11, 2014

(Asheville Citizen-Times)

Buck Stove Corp. will invest $1 million in its Spruce Pine manufacturing plant and will add 30 to 50 new jobs within three years. The company makes wood- and gas-burning stoves and patio products and recently signed a deal to make steel components for N.C. artist Bob Timberlake's retail line of outdoor living products.

Sierra Nevada plans Aug. 3 grand opening of Henderson County brewery

April 10, 2014

(Hendersonville Times-News)

Sierra Nevada will host a grand opening celebration at its Mills River brewery Aug. 3, capping off a 15-day Beer Camp Across America tour, a series of beer festivals that will kick off in its hometown of Chico, Calif.

Natural-products industry growing in Asheville

April 10, 2014

(Asheville Citizen-Times)

Over the past three years, 15 new natural-products manufacturers have established businesses in the Asheville area, bringing 48 full-time jobs.

 

Stanley Furniture closing Robbinsville plant, laying off 400 workers

April 3, 2014

(Asheville Citizen-Times)

High Point-based Stanley Furniture will close its manufacturing plant in Graham County, laying off 400 employees. The plant closing essentially ends domestic production for the company, which will keep just 95 workers at assembly and warehouse operations in Virginia.

Owner plans two hotels at BB&T building in Asheville

April 3, 2014

(Asheville Citizen-Times)

The BB&T building in downtown Asheville will house a 120-room AC Hotel by Marriott and a 150- to 170-room boutique hotel, as well as six floors of vacation rentals and condominiums. Owners say they plan to begin construction later this year.

Plastics manufacturer to expand Henderson County plant

April 2, 2014

(Hendersonville Times-News)

Plastics-manufacturer Elkamet will invest $2.35 million and hire 15 to 20 new workers at its plant in East Flat Rock. The company makes plastic components for vehicle manufacturers including Ford and Volkswagen. Hiring for the new jobs will begin this summer.

ASU's first Sun Belt game to air on national TV

April 2, 2014

(The News & Record, Greensboro)

Appalachian State University's first Sun Belt Conference football game against Georgia Southern will be televised nationally on ESPNU on Sept. 25.

Global real estate site ranks Bryson City No. 3 on national list

April 1, 2014

(The Smoky Mountain Times, Bryson City)

World Property Channel, a Miami-based news network for the real-estate industry, ranked Bryson City third on its list of best mountain towns in America behind first-ranked Coeur D'Alene, Idaho and second-ranked Estes Park, Colo.

Sierra Nevada could open Mills River tasting room by summer

April 1, 2014

(Asheville Citizen-Times)

With much of the construction complete at the new Sierra Nevada brewery in Mills River,  a small tasting room could open as early as July. The Chico, Calif.-based brewer is now brewing two of its popular beers there, and expects to produce 350,000 barrels a year once it reaches full production.

Bernhardt Furniture celebrates 125 years in business

March 31, 2014

(The News-Topic, Lenoir)

Family-owned Bernhardt Furniture Co. celebrated the 125th anniversary of its founding Friday. The company, founded in 1889, is now in its fourth generation of family leadership. 

National report shows slower revenue growth at U.S. Indian casinos

March 27, 2014

(Asheville Citizen-Times)

A recent report shows that revenue growth at tribal casinos, including Harrah's Cherokee Casino and Hotel in Western N.C., has slowed. Revenue at Harrah's was up almost 3% in 2012, compared with 5.8% the previous year. Weak economic recovery after the recession and a rising number of U.S. Indian casinos contributed to the decline in growth. 

Watauga County bridge dedicated to fallen officer

March 26, 2014

(The Watauga Democrat)

The U.S. Highway 421 bridge over the South Fork New River near Boone was dedicated to the late William Mast Jr., a Watauga County Sheriff's deputy who was killed while on duty in July 2012. 

Tupelo Honey Cafe to open eighth restaurant in Atlanta

March 21, 2014

(Asheville Citizen-Times)

Asheville's Tupelo Honey Cafe will open a new location in Atlanta by fall 2015. It will be the company's eighth restaurant; others are in Asheville, Charlotte, Greenville S.C., and Tennessee. The first Tupelo Honey opened in downtown Asheville in 2000.

Everts named new chancellor at Appalachian State

March 20, 2014

(The Watauga Democrat)

Sheri Noren Everts will become the seventh chancellor of Appalachian State University July 1, succeeding Ken Peacock. Everts has been provost of Illinois State University since 2008.

Steel-related company to build plant in McDowell County

March 20, 2014

(The McDowell News)

A new company that will produce a protective application for steel products will build an 8,000-square-foot plant near Old Fort in McDowell County and create 30 jobs. XO.STEEL LLC will invest $350,000 over three years in the plant, which could expand to more than 24,000 square feet. 

New Belgium to break ground on Asheville brewery in May

March 14, 2014

(Asheville Citizen-Times)

Fort Collins, Colo.-based New Belgium Brewing will break ground on its Asheville brewery May 1-2, but the main construction on the project won't begin until 2015. The 133,000-square-foot brewery and a new Enka distribution center will employ up to 140 people.

Heritage Home Group lays off workers at Broyhill plant in Lenior

March 10, 2014

(Lenoir News-Topic)

Though Heritage Home Group won't disclose details, a former employee at its Broyhill Furniture plant in Lenoir said about 20 employees, mostly upholsterers, were laid off due to slow business.

Asheville's first craft brewery planning to expand

March 7, 2014

(Asheville Citizen-Times)

Highland Brewing Co. is planning a major expansion that will increase the Asheville brewer's production by more than 50%. Highland is considering issuing industrial development bonds to fund the project, which would boost production from 38,000 to between 60,000 and 65,000 barrels of beer annually.

Hendersonville must decide on future for hosiery mill property

March 7, 2014

(Hendersonville Times-News)

A tax credit for potential developers of the Grey Hosiery Mill property in Hendersonville will expire later this year, forcing city council members to make a decision on the future of the historic property.

Charlotte

Charlotte one of four cities to bid on hosting ACC baseball tournament

April 17, 2014

(The Charlotte Observer)

Charlotte joins Durham, Greensboro and Winston-Salem in submitting a bid to host the ACC baseball tournament beginning in 2015. This year's tournament will be held May 20-25 at Greensboro's NewBridge Bank Park. League officials could decide by mid-May which city will host the next four tournaments.

McCrory announces oversight plan for Duke Energy's ash ponds

April 17, 2014

(The News & Observer, Raleigh)

Gov. Pat McCrory plans to ask state legislators for broader authority over the handling of coal-ash at Duke Energy's 33 ash ponds in North Carolina. McCrory, a former Duke Energy employee, wants site-specific plans that would remove ash from some ponds while leaving others drained and capped and would require more frequent inspections. 

Bank of America reports first quarter loss

April 16, 2014

(The Charlotte Observer)

Bank of America reported a first-quarter loss of $276 million compared with a profit of $1.5 billion for the same period a year ago. CEO Brian Moynihan said the costs of resolving mortgage-related issues, including last month's $9.5 billion settlement with the Federal Housing Authority, hurt the Charlotte-based bank's earnings.

Lowe's CEO pay grew 50% in 2013

April 15, 2014

(The Charlotte Observer)

Robert Niblock's total compensation for 2013 was $18.7 million, more than 50% higher than his 2012 earnings. The chief executive of Mooresville-based Lowe's received a stock grant that was 83% bigger than in 2012 and his bonus nearly doubled.

Investors urge shareholders to vote out four Duke Energy directors

April 15, 2014

(The Charlotte Observer)

In light of Duke Energy's problems with coal-ash contamination, two major investors are urging shareholders not to re-elect four directors that serve on a committee that oversees the utility's environmental, safety and health compliance.

 

TIAA-CREF buys Nuveen Investments for $6.25 billion

April 15, 2014

(The Charlotte Observer)

New York-based TIAA-CREF will buy Chicago-based Nuveen Investments for $6.25 billion to expand its product offerings. It is unknown whether the deal will affect employment at the retirement-services provider's Charlotte campus, its largest corporate office with about 3,100 employees.

Park Sterling CEO earns 32% more in 2013

April 15, 2014

(The Charlotte Observer)

The chief executive of Charlotte-based Park Sterling Bank earned about 32% more in 2013 than the year before. Jim Cherry's total compensation for the year was $750,846, a sum which included a $200,000 cash bonus. 

Charlotte will pay $1.3 million for PCB cleanup

April 15, 2014

(The Charlotte Observer)

Charlotte City Council approved $1.3 million for testing and decontamination of PCBs found in the city's sewer system in February. The toxic chemicals were first linked to a grocery store grease trap and have been detected at two water treatment plants. 

Mitchell drops out of congressional race for Watt's seat

April 15, 2014

(The Charlotte Observer)

Citing an inability to raise enough money and a crowded ticket, former Charlotte City Council member James Mitchell has dropped out of the 12th Congressional District race. He was one of six Democrats vying for the seat previously held by Mel Watt. 

Massive Philip Morris plant in Concord sold

April 14, 2014

(The Charlotte Observer)

The former Philip Morris cigarette plant in Concord has been sold to a company that plans a project involving clean energy. The 3.5-million-square-foot plant on 2,100 acres has been vacant since 2009. A spokesman for Victory Industrial Park LLC says more details will be released about the project in a few months.

Regions Bank promotes Katon, plans more hiring in Charlotte

April 14, 2014

(The Charlotte Observer)

Birmingham, Ala.-based Regions Bank selected Terry Katon to lead its capital markets business at its Charlotte office, which opened late last year. Katon joined the midsized bank, which has offices in 16 states and $117 billion in assets, from Bank of America in 2009.  

Taxi company with exclusive airport contract gave money to Cannon's campaign

April 14, 2014

(The Charlotte Observer)

A cab company that was one of only three allowed to operate at Charlotte Douglas International Airport gave $28,000 to Patrick Cannon's mayoral campaign, 10% of his overall fundraising total.

Family Dollar to close 370 stores amid falling sales, profits

April 11, 2014

(The Charlotte Observer)

Matthews-based Family Dollar Stores will close 370 stores, about 5% of its 8,100, after sales and profits fell in its second quarter. The discount retailer reported profits for the quarter ending March 1 were $91 million, down 35% compared with the same quarter a year ago, while sales fell 6% to $2.7 billion.

Charlotte Knights hold first game at new uptown ballpark tonight

April 11, 2014

(The Charlotte Observer)

The Charlotte Knights will hold their home opener at the new, 10,200-seat BB&T Ballpark in uptown Charlotte tonight. A festival begins at noon in adjacent Romare Bearden Park with a team introduction, autograph session, music and more.

Charlotte law firm starts group for alcohol industry

April 11, 2014

(The Charlotte Observer)

Horack Talley law firm has created a new group to help those in the beer, wine and spirits industry with permits, licensing, real estate and other concerns. The group will assist alcohol-makers navigate rules and regulations from the local to the federal level.  

US Chamber of Commerce to support Tillis in Senate race

April 11, 2014

(The News & Record, Greensboro)

The U.S. Chamber of Commerce will endorse N.C. House Speaker Thom Tillis in the Republican primary for the U.S. Senate seat currently held by Dem. Sen. Kay Hagan. The group joins anti-abortion group National Right to LIfe, which said earlier this week it is also backing Tillis.

Bank of America to pay $783 million in settlement over credit card add-ons

April 10, 2014

(The Charlotte Observer)

Bank of America will pay $738 million to credit-card customers who were misled about credit protection and identity-theft protection programs and $45 million in penalties in a settlement with the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency.

Related: The Charlotte-based bank will cut 3,000 overseas jobs that provided back-office services, customer support and information-technology services. Some of the work may move to offices in Charlotte.

Small group of doctors get large share of Medicare payments

April 10, 2014

(The Charlotte Observer)

A New York Times analysis of 2012 Medicare data shows that about 2% of doctors received about $15 billion of the $77 billion total government payout. Fifteen Mecklenburg County doctors received more than $1 million in payments. 

Auto-parts maker adding 228 jobs at Catawba County plant

April 9, 2014

(The Charlotte Observer)

GKN Driveline will invest $113 million and create 228 new jobs over four years at its plant in Catawba County. The auto-parts manufacturer makes all-wheel drive systems, transmissions and other components for automakers including BMW, Chrysler, Ford and General Motors.

Charlotte building campaign for Google Fiber

April 9, 2014

(The Charlotte Observer)

Advocates of Google Fiber in Charlotte say the data network would attract entrepreneurs, bring jobs to the city and provide high-speed Internet access to low-income areas. The city has until May 1 to submit plans to Google, including details of existing infrastructure such as gas and electricity lines. Google expects to choose which cities will get the network by year-end; it's also looking at bringing the service to the Triangle area. 

Triad

Cameron returns as CEO of Reynolds American

April 17, 2014

(The Charlotte Observer)

Reynolds American has named board member Susan Cameron chief executive officer effective May 1. She previously served as CEO of the Winston-Salem-based tobacco company from 2004 to 2011 before she retired. Cameron will replace Daniel Delen who is retiring.

Greensboro's Forest Oaks club to reopen with new management

April 17, 2014

(The News & Record, Greensboro)

Forest Oaks Country Club in Greensboro will reopen under new management Thursday. The private club was closed on Tuesday after management company ES2 Sports & Leisure declared bankruptcy. A majority shareholder has enlisted a Florida-based company to manage the club.

RF Micro, TriQuint reveal consolidation plans

April 16, 2014

(Winston-Salem Journal)

The new company formed when Greensboro-based RF Micro Devices acquires Hillsboro, Ore.-based TriQuint Semiconductor will be called Rocky Holding Inc., and the two companies will operate as subsidiaries with dual headquarters. RF Micro CEO Robert Bruggeworth will serve as president and chief executive. Pending shareholder and regulatory approval, the $1.56 billion deal is expected to close in the second half of the year.

Hanes plant in Winston-Salem being demolished; mixed-use project to take its place

April 16, 2014

(Winston Salem-Journal)

Demolition is nearly complete on the 550,000-square-foot Winston-Salem Hanes plant that has been shuttered since 2007. The 26.5-acre tract will become Hanestowne Village, a mixed-use development that will include restaurants, retail and medical offices (Regional Report, January 2014). The first phase of the new project is expected to be complete by year-end. 

Proehlific Club closed after management company declares bankruptcy

April 16, 2014

(The News & Record, Greensboro)

Greensboro's Forest Oaks Country Club, which has been marketed under the Proehlific Club name since March 2013, is closed indefinitely after management company ES2 declared bankruptcy. 

1,200 apply for call-center jobs in High Point

April 15, 2014

(The News & Record, Greensboro)

APAC Customer Services received 1,200 applications for 500 call-center jobs the company needs to fill by July. The jobs will service a "major communications company" at the company's High Point service center. 

Herbalife reported to be under FBI investigation

April 15, 2014

(The News & Record, Greensboro)

Los Angeles-based Herbalife, which is planning to open a manufacturing plant in Winston-Salem, is the subject of a criminal investigation by the U.S. Department of Justice and the FBI according to various media outlets. The Federal Trade Commission is also investigating the nutritional-products company, which hedge fund manager Bill Ackman has accused of running a pyramid scheme.

Wake Forest Baptist may cut 1,000 jobs

April 14, 2014

(The Winston-Salem Journal)

Wake Forest Baptist Medical Center could cut anywhere from several hundred to more than 1,000 jobs as early as this week, according to multiple company employees. The Winston-Salem-based hospital, Forsyth County's largest employer with about 13,000 employees, has cut 950 jobs since 2012 when it began a new initiative to reduce expenses.

Triad labs top state list for Medicare reimbursements

April 14, 2014

(The News & Record, Greensboro)

Three Triad clinical laboratories received the most Medicare reimbursements in North Carolina in 2012, with Burlington's LabCorp topping the list with $157 million. Two Greensboro labs, Ameritox and Solstas Lab Partners, came in second and third receiving $86.8 million and $77 million respectively. 

Heritage Home moving three top executives to High Point

April 14, 2014

(High Point Enterprise)

While St. Louis-based Heritage Home Group won't confirm speculation that it will move its headquarters to High Point, the company told the St. Louis Business Journal it will base three top executives there, including its chief marketing officer and senior vice-president of retail. 

LabCorp relocating 975 workers from Burlington to McLeansville

April 14, 2014

(The Winston-Salem Journal)

LabCorp will relocate about 975 workers in its billing operations division to McLeansville, vacating five buildings in downtown Burlington. The company will not eliminate any jobs as a result of the move, which will begin in early 2015.

Northern Hospital names Cook interim CEO

April 14, 2014

(The Winston-Salem Journal)

Timothy Cook was named interim chief executive officer of Northern Hospital of Surry County. Cook was president and CEO of 321-bed Osceola Regional Medical Center in Kissimmee, Fla. for 14 years.  Former CEO Bill James left to become president of Wake Forest Baptist Health-Lexington Medical Center.  

VF Corp. adds Chinese distribution center

April 11, 2014

(The Winston-Salem Journal)

As part of its efforts to double its business in China by 2017, Greensboro-based clothing manufacturer VF Corp. announced it has opened a $60 million distribution center there that can handle up to 30 million units of product annually and will employ about 400 people. 

APAC could hire as many as 850 in High Point

April 8, 2014

(The News & Record, Greensboro)

APAC Customer Services, which just announced plans last Friday to hire 500 workers by July, said it expects to hire an additional 350 workers at its High Point call center by fall. Site Director Steve Cathers said the company is talking with other partners that could bring new jobs to the center.

NewBridge Bank reports $18.9M profit; CEO pay reaches $1M in 2013

April 8, 2014

(The Winston-Salem Journal)

The chief executive of Greensboro-based NewBridge Bancorp received more than $1 million in compensation during fiscal 2013, including bonuses totaling $231,778. It was the first year since 2008 that the bank issued executive bonuses. NewBridge reported net income of $18.9 million for the year, compared with a loss of $28.2 million in 2012.

Early attendance is up at High Point Market

April 8, 2014

(Time Warner Cable News)

High Point Market Authority President Tom Conley said some exhibitors at this week's biannual event say they've had the highest attendance in five or six years. Of the more than 2,000 vendors at the furniture show, one in ten is new to the market this year. 

Bank of Carolinas wants to increase number of shares

April 8, 2014

(The Winston-Salem Journal)

The board of Mocksville-based Bank of the Carolinas is seeking shareholder permission to increase its number of outstanding shares from 15 million to 580 million. UNC Charlotte finance professor Tony Plath says the move could be a part of strategy to avoid an unwelcome acquisition. 

APAC to add 500 customer-service jobs in High Point

April 7, 2014

(High Point Enterprise)

APAC Customer Services Inc. will hire 500 full-time workers at its High Point service center by July. The outsourcing company says the call-center positions will provide service for a telecommunications company. 

Greensboro's top business recruiter to retire

April 3, 2014

(The News & Record, Greensboro)

Dan Lynch is retiring as president of the Greensboro Economic Development Alliance after 10 years with the recruiting organization. Lynch has been criticized recently for not bringing enough industry to the area post-recession.

NewBridge closes merger with Raleigh's CapStone Bank

April 2, 2014

(The Winston-Salem Journal)

Greensboro-based NewBridge Bancorp has completed its acquisition of Raleigh-based CapStone Bank, which has four branches in the Triangle area. The deal, which was announced in November, gives NewBridge assets of $2.4 billion and a total of 40 branches.

Triangle

IBM reports eighth straight quarter of revenue decline

April 17, 2014

(WRAL.com)

Armonk, N.Y.-based IBM reported first quarter net income of $2.4 billion, down 21% from the same period a year ago, due to slumping hardware sales. Revenue fell for the eighth consecutive quarter to $22.5 billion. The company reported slight growth in its software sales and technology services segments. IBM employs approximately 8,000 workers at Research Triangle Park.

N.C. State to lead $25 million nuclear proliferation study

April 17, 2014

(The News & Observer, Raleigh)

N.C. State University was awarded a federal grant to lead a $25 million consortium of universities and laboratories in studying ways to monitor nuclear proliferation. The National Nuclear Security Administration announced the grant Wednesday. It is the third large federal grant the university has received over the past eight months.

Raleigh approves AT&T's gigabit Internet service

April 17, 2014

(The News & Observer, Raleigh)

Raleigh City Council approved an agreement that will allow AT&T to bring gigabit Internet service there. AT&T also wants to bring its ultra high-speed service to Carrboro, Cary, Chapel Hill, Durham and Winston-Salem. Those cities must also approve the deal before installation of the new fiber network begins.

Final public hearing on major Chatham County development scheduled for May 12

April 16, 2014

(The News & Observer, Raleigh)

A final public hearing will be held May 12 before the town of Pittsboro votes on whether or not to approve plans for the massive Chatham Park development proposed by Preston Development Co. (Regional Report, October 2013)

PR firm Capstrat cuts jobs at Raleigh office

April 16, 2014

(The News & Observer, Raleigh)

Capstrat confirmed it laid off some employees this week at its Raleigh office to adjust to its current volume of business, though the communications company did not provide specific details. Capstrat is owned by Ketchum, an Omnicon Group company, and provides advertising and public relations services for clients including Blue Cross and Blue Shield of North Carolina, Duke Energy and Quintiles.

Tupelo Honey Cafe to open fourth NC restaurant in Raleigh

April 15, 2014

(Asheville Citizen-Times)

Asheville's Tupelo Honey Cafe will open its first restaurant in Raleigh this fall at Cameron Village. It will be the restaurant chain's fourth in North Carolina; it has two in Asheville and one in Charlotte. 

Chimerix CEO gets pay raise, stock options

April 15, 2014

(The News & Observer, Raleigh)

Michelle Berrey will receive an annual salary of $440,000 and stock options in her new role as president and chief executive officer of Durham-based Chimerix, $76,000 more than her previous salary. She will also be eligible for a performance-based bonus of up to 50% of her salary. Berrey will retain her title as chief medical officer of the drug-development company.

Committee to finish report on teacher pay, retention

April 14, 2014

(The News & Observer, Raleigh)

A state legislative committee that studied teacher effectiveness, compensation and how to retain skilled teachers will finalize its report for the N.C. General Assembly today after seeking input from local school district leaders. 

Biotech and Internet stocks fall, bring Nasdaq down

April 11, 2014

(The News & Observer, Raleigh)

The Nasdaq fell 3.1% on Thursday as biotechnology and Internet stocks dropped. It was the index's worst day since November 2011. Investors have shifted recently to safer investments including utilities, health care and consumer staples as tech companies grow more expensive and regulators have increased scrutiny of drug costs.

Lenovo still world's top PC maker, moves up in US market

April 11, 2014

(The News & Observer, Raleigh)

While the overall market for PCs continues to decline, Lenovo's shipments grew 10.9% in the first quarter, allowing it to maintain its status of the world's No. 1 PC maker ahead of HP. The company, which employs 2,500 in North Carolina, also moved up from No. 4 to No. 3 in the U.S. PC market rankings issued by market research group IDC. 

Baxano Surgical gets FDA clearance for surgical product

April 11, 2014

(Greater Wilmington Business Journal)

Baxano Surgical received U.S. Food and Drug Administration clearance for a pedicle-screw product used in spinal surgeries. The Raleigh-based medical-device company will launch its Avance system, which incorporates the product, in limited release later this quarter. 

Four Oaks Bank could sell $50 million in assets

April 11, 2014

(American Banker)

Four Oaks Fincorp., parent company of Four Oaks Bank, may sell up to $50 million in assets. Investor Kenneth Lehman, who agreed last month to buy 875,000 shares of the company's common stock at $1 each, is working with the community bank on an asset-resolution plan. Four Oaks has 14 offices primarily in the Triangle area.

 

AT&T hopes to bring gigabit Internet service to parts of Triangle, Triad

April 10, 2014

(The News & Observer, Raleigh)

AT&T plans to install a new fiber network that will allow it to offer gigabit Internet service that is about 20 times faster than most broadband service in Carrboro, Cary, Chapel Hill, Durham, Raleigh and Winston-Salem.

CEO of Durham-based Chimerix leaves abruptly

April 10, 2014

(The News & Observer, Raleigh)

Durham drug-maker Chimerix announced that Michelle Berrey has replaced CEO Kenneth Moch. Chimerix made headlines last month when a critically ill 8-year-old's family led a social-media campaign urging the company to give him an experimental antiviral drug. Details about Moch's sudden departure were not available.

NC rejects Raleigh's bid for Dix property, proposes counter-offer

April 10, 2014

(The News & Observer, Raleigh)

The state has rejected Raleigh's offer to buy the 308-acre property that was home to Dorothea Dix psychiatric hospital, saying it wants to keep a 64-acre portion of the land and sell the rest for $52 million.

Board fires St. Augustine's president

April 9, 2014

(The News & Observer, Raleigh)

The Board of Trustees of St. Augustine's University in Raleigh has removed President Dianne Boardley Suber, who led the school for 14 years, and reinstated the school's provost and vice president of finance, both recently ousted by Suber. St. Augustine's is undergoing a review by the Southern Association of Colleges and Schools due to financial concerns.

WRAL will include Harris in Senate debate

April 9, 2014

(The Charlotte Observer)

Raleigh's WRAL television station will include Charlotte Republican Mark Harris in its televised U.S. Senate debate on April 23. The station had previously invited Thom Tillis, Greg Brannon and Heather Grant but excluded Harris, citing weak poll numbers.

California real-estate firm buys another Triangle apartment complex

April 8, 2014

(The News & Observer, Raleigh)

Irvine, Calif.-based Passco Companies bought the 270-unit Carrington at Brier Creek apartment complex in Raleigh for $37.3 million. Passco bought a 280-unit Durham complex in July 2013 and also recently purchased a 246-unit apartment community in Raleigh. 

Former Harris Teeter CEO named chairman of The Pantry

April 7, 2014

(The News & Observer, Raleigh)

The Pantry has named the former chairman and CEO of Matthews-based Harris Teeter as chairman of its board of directors. Thomas "Tad" Dickson replaces Edwin Holman, who was ousted last month after a group of dissident shareholders elected three new candidates to the convenience-store chain's nine-member board.

 

IPO delayed for Durham-based Scynexis

April 7, 2014

(The News & Observer, Raleigh)

The initial public offering for Durham drug-development firm Scynexis has been pushed back. Media outlets report the company could go public this week or the week of April 14. Scynexis announced last Thursday it expected to sell its shares at a lower price than originally announced. 

Eastern

Fayetteville's Methodist University receives $1 million gift

April 17, 2014

(The Fayetteville Observer)

Methodist University received a $1 million gift to support three projects including a Judaic studies endowment and a lobby and gallery in the Reeves Fine Art Building. The school has raised $25 million towards a $35 million goal in the largest fundraising initiative in its history.

Isaiah Washington leads cast of 'The Sin Seer' in Wilmington

April 17, 2014

(StarNews, Wilmington)

Isaiah Washington and Lisa Arrindell Anderson will star in The Sin Seer, an upcoming film about a woman who can see sin in people's souls. The film will begin production April 28 in Wilmington.

Wilmington's Live Oak Bank to go public

April 16, 2014

(Greater Wilmington Business Journal)

In an SEC filing, Wilmington-based Live Oak Bank announced plans to go public though no share price was given. The statement says the bank, which began as a small-business lender, will use proceeds from the public offering to pay off about $8 million in debt and support expansion.

Wilmington may raises taxes, cut jobs to offset $2.3 million budget shortfall

April 16, 2014

(StarNews, Wilmington)

Wilmington may raise its property tax rate by two cents per $100 of value or cut up to 34 jobs to narrow a $2.34 million gap between expenses and revenue. The city council will adopt the budget in June for the fiscal year that begins July 1.

Duke Energy selects Lumberton site for possible development

April 15, 2014

(The Fayetteville Observer)

Duke Energy Progress has hired a consulting group to study a 257-acre site in Robeson County for a potential industrial or manufacturing project. The Lumberton site is one of five in the state chosen by the utility as part of its 2014 Site Readiness Program.

New owner of Smithfield Foods to hold IPO

April 15, 2014

(StarNews, Wilmington)

The Chinese company that bought Smithfield Foods last year will hold an initial public offering on the Hong Kong Stock Exchange. WH Group hopes to raise up to $5.3 billion, much of which will be used to pay off debts related to the Smithfield purchase. Shares are expected to start trading on April 30.

Two more environmental groups oppose sale of N.C. State research forest

April 14, 2014

(Jacksonville Daily News)

Audobon North Carolina and the North Carolina chapter of the Sierra Club have joined at least nine other environmental groups opposed to the prospective sale of Hofmann Forest in Onslow and Jones counties. N.C. State University announced plans in October to sell the land, previously used for research and education, to an Illinois-based agribusiness for $150 million.

PBS series filmed in Kinston wins Peabody Award

April 10, 2014

(StarNews, Wilmington)

The PBS series featuring Kinston chef Vivian Howard and the restaurant she co-owns with Ben Knight, Chef and the Farmer, won a Peabody Award, which recognizes excellence in broadcasting. A Chef's Life joins top-rated TV shows including ABC's Scandal and AMC's Breaking Bad in receiving the awards, which will be presented at a May 19 ceremony in New York. 

Walsh resigns as CEO of Wilmington's AAIPharma

April 10, 2014

(Greater Wilmington Business Journal)

The chief executive of Wilmington-based AAIPharma Services Corp. has stepped down. Patrick Walsh led the company through its merger with Wisconsin-based Cambridge Major Laboratories last year, and had planned to leave the position after the transition. Susan Nestegard was named interim CEO.

Comedy featuring Kristen Wiig, Allison Janney to film in Wilmington

April 10, 2014

(Greater Wilmington Business Journal)

A new movie titled The Heart, starring Kristen Wiig, will film in Wilmington. Pre-production of the comedy, which will also star Allison Janney and Sam Rockwell, is set to begin in May.

Pig virus still affecting NC farms; pork prices rising

April 9, 2014

(The News & Observer, Raleigh)

North Carolina is among four states that have been most affected by porcine epidemic diarrhea, the fast-spreading virus that is fatal to young piglets. The U.S. Department of Agriculture says the virus is responsible for a 3% reduction in the nation's pig population and pork prices have risen 10% or more.

General Assembly refutes film study, says incentives cost state $33 million

April 8, 2014

(StarNews, Wilmington)

A review of a film-incentive study released last week questions its conclusions and claims North Carolina lost $33.1 million in local and state tax revenue in 2012 due to the incentives. The state General Assembly's Fiscal Research Division re-evaluated the study performed by an N.C. State professor, and its findings dispute the study's claim the state made a profit of $25.4 million from tax revenue.

Dredging to improve port prospects at Morehead City

April 7, 2014

(Carteret County News-Times)

The U.S. Army Corps of Engineers will begin dredging in Beaufort Inlet today. The $7.9 million project will allow ships leaving the N.C. Port of Morehead City to carry more cargo by increasing the channel's depth to 43 feet. Sand removed from the inlet will be moved to beaches along Bogue Banks. 

NCDOT to create 24-county free trade zone in Eastern NC

April 7, 2014

(Greater Wilmington Business Journal)

The N.C. Department of Transportation announced last week the creation of a 24-county free trade zone in Eastern N.C. that includes New Hanover, Brunwick and Pender counties. The zoning will enable companies designated as FTZ sites to defer duty taxes on products until the products leave the zone.

Political ads target Republican senators for support of fracking

April 7, 2014

(The Sanford Herald)

A pro-environment group which includes the Southern Environmental Law Center is behind new politcal ads labeling three Republican state senators as "The Fracking Crew." The ads target Harnett County's Sen. Ronald Rabin, Wake County's Sen. Chad Barefoot and Sen. Wesley Meredith of Cumberland County, condemning the trio for their support of hydraulic fracturing.

Economist predicts slow growth for Wilmington area

April 4, 2014

(Greater Wilmington Business Journal)

A PNC economist said Wilmington will experience economic growth but it will take it a year longer than the rest of North Carolina to completely climb out of the recession. Mekael Teshome said the area must attract higher-wage industries instead of relying on hospitality and retail.  

Chairman of NC Ports Authority resigns

April 3, 2014

(Greater Wilmington Business Journal)

In a letter to Gov. Pat McCrory earlier this week, Danny McComas resigned as chairman of the North Carolina Ports Authority. He has served as chairman of the board since his appointment in 2012; his term was to expire in 2016. McComas did not give a reason for his resignation. The Ports Authority named Paul Cozza its new executive director last week.

Air Force outlines reasons for closing Fort Bragg's 440th Airlift Wing

April 3, 2014

(The Fayetteville Observer)

Air Force officials provided details about its decision to deactivate Fort Bragg's 440th Airlift Wing as part of its 2015 budget proposal, saying moving the unit to Little Rock Air Force Base will save it 600 positions. The deactivation would eliminate more than 1,400 jobs at Fort Bragg's Pope Field.

Offshore drilling could create hundreds to thousands of new jobs

April 2, 2014

(StarNews, Wilmington)

N.C. State professor Michael Walden says offshore drilling for oil and natural gas along the North Carolina coast could create a few hundred to several thousand jobs. The potential number of jobs would depend on a number of factors, including available quantities, pricing, advanced technologies and environmental impact. 

Pipe-maker to cut 90 jobs at Brunswick County plant

April 1, 2014

(StarNews, Wilmington)

Victaulic will cut 90 jobs over the next seven months at its pipe-manufacturing plant in Leland. The company will move rubber-molding and press-fit operations to Mexico.