UNC Charlotte’s board of trustees voted to keep former Carolina Panthers owner Jerry Richardson’s name on its football stadium. The NFL fined Richardson $2.75 million last month after allegations of sexual and racial harassment. Hedge-fund manager David Tepper bought the team last month for $2.275 billion.
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VF Corp. brand Williamson-Dickie Mfg. Co. is closing its Uvalde, Texas plant and moving the operation to Mexico and Honduras, laying off 156 employees by Oct. 9. VF Corp. announced plans on Monday to move its global headquarters from Greensboro to Denver and split from its Wrangler and Lee brands.
Michael Herring, one of the three members of North Carolina’s Alcoholic Beverage Control Commission, resigned a week after a scathing state audit of the agency. Herring denied allegations of mismanagement and calls the LB&B warehousing firm contract that allegedly cost the state $11.3 million a good deal for the state, according to the Triangle Business Journal. He says that no one asked him to resign from his position.
Raleigh-Durham International Airport is accelerating its Terminal 1 expansion plans and will open the new gates in 2020. The expansion will include six new-self service kiosks and a full-service gate for ticketing agencies. The airport is growing its passenger count faster than predicted. Chief Operating Officer Bill Sandifer says the RDU is nearly 11 years head of its projections.
Duke University Hospital ranked 19th nationwide in U.S. News & World Report‘s annual top 20 hospital list. It was the only North Carolina hospital to make the top 20. The Mayo Clinic in Rochester, Minn., was ranked No. 1.
Charlotte-based Christenbury Eye Center filed for Chapter 7 bankruptcy protection, claiming the business has up to $10 million in debts and no more than $50,000 in assets, according to The Charlotte Observer. Doctor Jonathan Christenbury, who is credited with introducing Lasik eye surgery to the Charlotte area, has been the subject of multiple sexual-harassment complaints and was forced to give up his medical license last year after he tested positive for cocaine.
Cree, a Durham-based semiconductor, power supply and LED firm, exceeded analysts’ expectations for revenue by more than $9 million, reporting $409 million. Earnings were 11 cents per share after adjustments, 3 cents more than expected. Still, Cree shares declined nearly 8% on Wednesday.
Garner-based Improved Nature is expanding its sales and marketing staff, and may increase its headcount from 15 to 30 in coming months. The company is also planning a manufacturing facility that could bring another 150 jobs to the area. Improved Nature manufactures its meat substitution products at a 30,000-square foot facility in Garner.
More than 135 North Carolina companies made the most recent Inc. 5000 list of fastest growing privately held companies in the U.S. The ratings are based on revenue statistics over the last three years provided by firms. Wilmington-based beverage and social app startup Untappd led the North Carolina companies, ranked at No. 150 with annual revenue of $8 million last year.
Charlotte-based online lending marketplace LendingTree named Sushil Sharma chief product officer. Sharma previously served as chief product officer at Match.com. He replaces Nikul Patel, who will now serve solely as chief strategy officer. LendingTree employs more than 500 people in the Charlotte region.
The U.S. Department of Commerce’s Economic Development Administration awarded Davie County a $2 million grant for infrastructure improvements. The funds will support sewer-infrastructure improvements in east Davie County. County officials say the upgrades could lead to the creation of 187 jobs and spur $23 million in private investment.
Billy Darryl Floyd was sentenced to 18 months in prison for attempting to interfere with the administration of the Internal Revenue Service between Oct. 2007 and Sept. 2011. Floyd filed false tax returns and submitted fictitious “surety bonds” to the IRS.
Durham County commissioners approved three incentive deals totaling nearly $450,000 for expansions of Bannockburn, Ill.-based AveXis, Sensus of Raleigh and Burlington-based LabCorp. The companies will bring a combined total of more than 900 jobs with the expansions.
The 384-bed Wilson Medical Center named Mark Holyoak chief executive officer. Holyoak has been CEO at Castleview Hospital, a LifePoint Health facility in Price, Utah, since 2011. He replaces Bill Caldwell, who is leaving to lead a four-hospital system in Pennsylvania.
A family dispute among owners of Pine Needles Golf and Country Club in Southern Pines has been settled. W. Kirk Bell, youngest son of the late golfing legend Peggy Kirk Bell, filed a lawsuit last fall alleging his siblings and their families, who jointly own the business, made decisions without his input. The owners have reached an agreement to buy out Bell’s interest in the business. Pine Needles will host the U.S. Women’s Open in 2022; it’s the fourth time the club has hosted the tournament.
Charlotte-based financial-technology firm DealCloud was acquired by Silicon Valley software company Intapp. Terms of the deal were not disclosed. DealCloud will continue to operate separately as an Intapp company, and the leadership team will continue in their current roles.
RedHill Biopharma, an Israel-based company with U.S. headquarters in Raleigh, sold 4.1 million American Depositary Shares, enabling the firm to gross about $25 million. Each ADS represents 10 ordinary shares of RedHill.
Buncombe County Board of Commissioners terminated more than $500,000 dollars worth of contracts held by two companies associated with Joseph Wiseman Jr., an engineer implicated in an alleged kickback scheme involving three former county officials, according to The Mountain Xpress. The board also plans to file a civil lawsuit against former officials Wanda Greene, Mandy Stone and Jon Creighton, in addition to Wiseman and the companies affiliated with Wiseman.
Shares of Charlotte-based restaurant operator Chanticleer Holdings Inc. fell by 5.2% on Tuesday morning after the company reported a net loss of $788,467, or 23 cents per share. The company operates restaurants including American Burger Company, Just Fresh and Hooters.
New York-based optical products company Corning Inc. plans to build an optical cable plant in Hickory and add 110 jobs to the area. The company, which already has 4,000 employees in the state, will be the first tenant in the new Trivium Corporate Center, according to Charlotte Business Journal.
Former Vice President Al Gore bashed Duke Energy during a visit to North Carolina, calling its Belews Creek Steam Station a crime scene because of the impact of coal ash residue. Gore was touring to promote the Poor People’s Campaign’s efforts related to ecological justice. The Belews Creek station has about 12 million tons of coal ash residue in a 350-acre basin.
The N.C. Secretary of Transportation Jim Trogdon is expected to present options for changing the Interstate 77 toll lanes Wednesday at the Lake Norman Chamber of Commerce. The toll lanes, running from downtown Charlotte to Mooresville, are under construction and could open as early as the end of the year.
A Duke University group led by professors Jungsang Kim and Ken Brown that is developing quantum computer technology received a $15 million grant from the National Science Foundation. The “trapped-ion” design the group is using could hold qubits steady in its internal memory for much longer than other superconducting designs, according to The News & Observer. The group also received awards from IARPA in 2010 and 2016 that totaled about $54.5 million.
Greensboro-based marketing company Market America’s international convention at the Greensboro Coliseum this weekend brought more than 20,000 people from 10 different countries. Henri Fourrier, president of the Greensboro Area Convention & Visitors Bureau, told Triad Business Journal its economic impact totaled $16 million.
Bermuda-based insurance firm Arch Capital Group will occupy four floors in the 18-story Dillon tower in downtown Raleigh. The lease brings the new 2.5 acre building to more than 96% occupancy. In July, Arch Capital Group announced it was creating a hub in Raleigh, bringing 365 jobs to the city.
Raleigh-based Bandwidth Inc. Chief Financial Officer Jeffrey Hoffman sold more than $1.6 million in shares. Hoffman purchased 45,000 shares at $5.80 per share on Aug. 8, spending $261,000. He then sold 20,000 shares at an average price of $42.49 per share, and then sold 25,000 shares at an average price of $43.79.
The Boone Marketplace project, originally proposed as a mixed-use apartment and commercial space, is now being revamped as a 75,000-square-foot hotel project with a restaurant and a parking deck. The new project is estimated to cost $10 million; the previous project approved in June 2016 was estimated to cost $30 million. The demolition permit has been issued, but a zoning application is pending approval.
Charlotte-based Skillpop, which offers short-term classes on dozens of subjects, is opening a fifth location at Davidson College in the Lake Norman area in September. Skillpop, started by Haley Bohon in September 2015, offers classes in Charlotte, Raleigh, Greenville, S.C., and Nashville, Tenn.
VF Corp. plans to spin off its Lee and Wrangler jeans business and concentrate on faster-growing brands such as North Face and vans. The Greensboro-based company confirmed the plan today, which the Wall Street Journal reported on Saturday. The spinoff will be completed in the first half of 2019, VF said.
A Garner Amazon distribution center was announced by city officials on Friday. The four story, 2.6 million-square-foot project will boast 1,500 jobs, $200 million in investment and $45 million in annual payroll.
Some areas of the state will see average Affordable Care Act rate cuts close to 16%, while others will see an 8% rate increase on average, according to The News & Observer. Blue Cross Blue Shield is the only insurer that will offer ACA plans in all 100 counties. About 500,000 North Carolinians are covered by ACA plans.
Charlotte-based packaging manufacturer Sealed Air is under investigation by the Securities and Exchange Commission over issues in its accounting and financial reporting. Specifics of the SEC probe are unclear. The company employs 1,000 people at its $58 million southwest Charlotte headquarters.
The Federal Energy Regulatory Commission has issued a “Stop Work Order” for the Atlantic Coast Pipeline, halting work. The FERC says construction “poses the risk of expending substantial resources and substantially disturbing the environment by constructing facilities that ultimately might have to be relocated or abandoned.”
Charlotte-based power plant manufacturer Babcock & Wilcox Inc. stock declined 24% on Friday after reporting a second-quarter loss that was higher than expected. The company had a net loss from continuing operations of $209.7 million, or $1.68 per share, compared with a net loss of $148.6 million, or $3.05 per share, last year. Revenue fell 4.9%.
Asheville-based grocer Ingles Markets Inc. shares shot up 14.7% on Friday after reporting strong third-quarter earnings and sales. The company reported net income of $24.5 million, or $1.21 per share, more than double than last year’s net income of $11.5 million, or 57 cents per share. Revenue gained 5% to $1.03 billion.
The Greater Asheville Regional Airport Authority granted an incentive package of $875,000 to Spirit Airlines. The airline is scheduled to start three new routes to Florida in September.
Rogers Appliances of Wilmington has closed after 72 years of operation. Joseph Rogers opened the store in 1947, offering appliance repair services. His son, Alvin Rogers, who owns the business, plans on selling remaining antique appliances and renting out the building.
At a 10:00 a.m. news conference, Garner is expected to announce an Amazon fulfillment center that could bring more than 2,000 jobs. In July, the town approved a 680,000-square-foot building on the 88-acre site that was once home to the ConAgra plant, referring to the development as Project Axis.
A recent audit found that the Alcoholic Beverage Control Commission lost the state $11.3 million over 13 years due to poor handling of contracts and wasted $2.1 million by renting warehouse space that went unused for seven years. Chief Administrator Bob Hamilton left abruptly on July 26. It’s unclear whether he quit or was fired. N.C. is one of 17 states in which the state has control over the liquor market.
A potential N.C. Department of Military and Veterans Affairs skilled-nursing facility could bring as many as 170 jobs to Kernersville. If approved by the town and the state Department of Environmental Quality, the state will build a single-story, 120-bed facility along Kernersville Medical Parkway. North Carolina purchased 9.5 acres for $3.4 million in late July.
Piedmont Lithium, a mine-exploration company, could spend upward of $500 million over the next five years to bring battery-grade lithium mining back to western Gaston and Cleveland counties, according to the Charlotte Business Journal. The company expects to make a decision during the fourth quarter of 2019. If Piedmont Lithium decides to forge ahead, construction of the mine and a chemical-processing plant could start in late 2019.
Former Chapel Hill-based Southern Season CEO W. Clay Hamner and former CFO Brian Fauver were found not guilty of defrauding GGC Associates, the Virginia landlord that lost $150,000 at the company’s struggling Richmond store before it was closed in 2016, according to The News & Observer. Southern Season sought bankruptcy protection after its expansion into Richmond and South Carolina, and was acquired for $3.5 million by Calvert Retail in 2016.
Oakland, Calif.-based financial-technology firm Even is opening its East Coast office in Raleigh, and plans to hire up to 20 people. The company recently closed on a $40 million financing, bringing its total raised to $52 million. Even offers a membership service to help people manage their money, plan for upcoming bills and save.
Greensboro-based grocer The Fresh Market Inc. named Oded Shein chief financial officer. He previously served as executive vice president and CFO at Stage Stores Inc., a Houston-based retailer. Shein replaces Brian Nicholson, who has been CFO since September 2016. The company said in July it is closing 15 stores, including one in North Carolina.
Charlotte-based chemical company Albemarle Corp. reported net income of $150 million, or $1.36 per share in the second quarter, beating analysts’ expectations of $1.28 per share. The company also had revenue of $853.8 million, higher than analysts’ predictions of $798.2 million. Albemarle’s stock rose 2.9% in after-hours trading on Tuesday.
Construction is underway at a planned Amazon fulfillment center in Kernersville. Amazon’s proposed Triad plans for the center surfaced May 30, according to the Winston-Salem Journal. What could potentially be a 1-million-square-foot facility could employ up to 953 full-time and full-time equivalent workers.
Building products company Texture Plus will make a $1.3 million move to Lincolnton from Long Island, N.Y., bringing 30 jobs to the area. The new jobs will pay an average annual wage of nearly $41,300. Texture Plus, which makes polymer wall panels, had also considered a site in Cherokee County, S.C.
Charlotte-based business-to-business marketing company Technekes LLC and XSInc., a Morrisville data-collection firm, completed a merger July 31 to create TKXS Inc. The 50-50 merger will maintain two headquarters in Charlotte and Morrisville. Steve Amedio, former chief executive officer of Technekes, is now CEO of the combined company. Thad Armbruster, former CEO of XS, is president and chief operating officer.
North Carolina native and UNC Greensboro alumnus Ernest J. Grant was elected president of the American Nurses Association. Grant, who oversees the N.C. Jaycee Burn Center at UNC Hospitals in Chapel Hill, will be the first man to serve as president of the organization. The association represents nearly 4 million nurses in the U.S., 90% of them women.
Virginia-based solar panel provider Sigora Solar plans to hire 75 for a new operations center in Raleigh. Officials say the new facility will open in the next six months, although a location has not been secured. Sigora had 40 employees and $5 million in annual revenue as of 2016.