Imagine strapping on a pair of high-tech goggles and entering a new world in the blink of an eye. Alicia Hetrick and Alex Markello are offering gamers just that, with a taste of virtual reality at their downtown Durham arcade, Augmentality Labs. The veterans opened the first Triangle area VR arcade in July 2017. Augmentality […]
Bryan Jordan, perhaps the most successful banker to come out of Salisbury since Wall Street legend Julian Robertson, had a cool homecoming last week. The CEO of Memphis-based First Horizon National Corp., which operates First Tennessee Bank, was promoting a financial literacy program aimed at the huge slice of citizenry who don’t or can’t save […]
Liquor is such a profitable business filled with so many things that can go wrong that North Carolina has gotten very used to having its state government overseeing the spirits industry. It’s also provided local control and something to do for the 167 ABC boards spread across the state, ostensibly to make a lot of […]
As president and managing partner of Cliffs Land Partners, Kent Smith oversees all real estate held by The Cliffs companies, including existing properties for sale, creation of new products and directional decisions regarding all undeveloped holdings. A veteran in the luxury real estate and master-planned community industries, He previously was a consultant to clients including […]
Famed furniture analyst Jerry Epperson discusses the bankruptcy filing of Heritage Home Group, owner of some iconic North Carolina brands.
Agnes Stevens, interim administrator of the N.C. Alcoholic Beverage Control Commission, is a veteran PR professional who may need to use crisis-communications skills in her new post. Stevens was promoted to replace Robert Hamilton, who abruptly left his $102,000 post about 10 days ago. A commission spokeswoman declined comment on Hamilton’s departure, citing state personnel […]
Sumit Vohra, founder, CEO and chief drinking officer of Raleigh’s Lonerider Brewing, opened the company in January 2009 with a beer and a dream. Today, Lonerider is one of North Carolina’s biggest-volume breweries, annually producing more than 20,000 barrels, with distribution in nine states and in Europe. Lonerider brews have won medals at the Great […]
Steve Jones thinks he can raise $75 million to $100 million for a new Raleigh-based community bank that will eventually top $1 billion in assets and expand outside the Triangle. He expects the proposed Dogwood State Bank to open in the second quarter of 2019, pending approval by regulators. To put that in context, Raleigh’s […]
My main memories of Dick Spangler Jr. involve ‘cue. Back in the day, my journalist friends would grab a $5 lunch at Charlotte’s Rogers Barbecue or Art’s Barbecue and often, a bespectacled, uber-serious-looking businessman would be sitting alone, reading a newspaper while chowing down on North Carolina’s most famous food. “Did you know that guy […]
For decades, many North Carolina insurers and hospitals have relied on Samuel “Sammy” Thompson to defend their interests in court. In recognition of his success, the North Carolina Association of Defense Attorneys recently named Thompson, a partner at Raleigh law firm Smith Anderson, as its first recipient of the Award for Excellence in Trial Advocacy. […]
Rob Harrington spends most of his time as a corporate litigation lawyer at Robinson, Bradshaw & Hinson PA of Charlotte, and a prominent one, at that. Harrington chairs the company’s litigation department, and has represented clients for nearly 30 years. He’s previously served as president of the Mecklenburg County Bar, chair of the board of […]
Business North Carolina’s Caroline Maas attended the July 10 press conference held by new Carolina Panthers’ owned David Tepper. Here is her report. The room buzzed with a quiet excitement as Tepper was led down the metal stairs of the Panthers’ conference room onto the stage before dozens of reporters. After all, the last time […]
Chancellor Philip Dubois has raised UNC Charlotte’s profile during his 13-year tenure: Expanding enrollment by more than 7,000 students; $1 billion-plus expansion for classrooms, labs and a student center; adding new Ph.D. programs and, of course, a football team. Now he wants to add an $84 million hotel and conference center on campus to attract […]
The company that hired the most tech workers in May 2018 in North Carolina is a software industry giant that is relatively little known in the Tar Heel state. Redwood City, Calif.-based Oracle topped the list compiled by the N.C. Tech Association, a Raleigh-based trade group that promotes the tech industry. Many of those hired […]
On June 23, The Alliance of Area Business Publishers presented 115 Editorial Excellence awards to newspaper and magazine business periodicals at its annual summer conference in Washington, DC. With 484 entries from 37 publications in the U.S., Canada and Australia, the competitive field was both impressive and diverse. Business North Carolina brought home a total of six awards […]
BB&T CEO Kelly King and about 150 bank and community officials celebrated the opening of the bank’s Leadership Institute in Greensboro last week. The tree-shrouded campus near Piedmont Triad International Airport will train leaders at BB&T and other companies and offer programs geared toward public-school principals. After a speech discussing man’s search for meaning, the […]
The Interstate 77 toll-road project changed the course of state history, with anger among north Mecklenburg County residents contributing to Gov. Pat McCrory’s 10,000-vote loss to Roy Cooper in 2016. Cooper blamed the former Charlotte mayor for supporting the project, which would be costly and hurt businesses. The issue siphoned Charlotte-area votes away from McCrory, […]
The U.S. economic expansion is now the second-longest economic expansion since 1844, and UNC Charlotte professor John Connaughton sees continued growth in the state and nation.
Charlotte PE group Summit Park sold a portfolio holding, records management company Arkive, to Access CIG of Livermore, Calif. Atlanta-based Arkive “built significant value in 17 months” of ownership by the private equity company, according to Summit Park’s release. Further details weren’t disclosed. Veteran PE industry bankers Bob Calton and Jim Johnson founded Summit Park […]
After months of skirmishes with doctors and politicians, Atrium Health is back on the offensive. The health care system, which is the Charlotte area’s biggest employer, unveiled the bare basics of a seven-year plan to spend $1 billion to improve and expand its hospitals in downtown Charlotte, Pineville and elsewhere. Introduced at the system’s quarterly […]
From starting their own food truck to starring on a national television show, MOFU Shoppe owners Sophia Woo and Sunny Lin have quite the origin story. The childhood friends opened Pho Nomenal Dumpling Truck in Raleigh in 2014. Within a year of kicking off the business, they were invited to compete on season 6 of […]
Labor activists are pushing to ensure that the death of Juventino Mata-Hernandez, who was helping build one of Charlotte’s most prominent new office towers, will lead to safer working conditions. Mata-Hernandez, 24, had been on the job for less than a week before he fell to his death, allegedly due to a malfunctioning buck hoist […]
Amazon may have spurned Charlotte as a possible site for a “second headquarters” complex, but the e-commerce kingpin may still have big plans for the Queen City. The company is talking with local and state officials about a 2-million-square-foot fulfillment center on city-owned land near the southeast corner of Interstates 85 and 485 in west […]
For years, the term “living wage” has been a hot-button topic pitting business interests against unions and labor organizers advocating for a higher minimum salary. This week, the Republican-led N.C. General Assembly concluded that a living wage is worthwhile for state employees. As part of the revised state budget, the lowest-paid government workers — about […]
Getting a startup’s message in front of potential investors can be key to success, as Shark Tank devotees know. It’s not quite like making the popular TV show, but Wilmington-based Kwipped just won a coveted spot in a startup investment conference later this month. The Silicon Valley Open Doors Top International Startup Investment Conference chose […]
Sponsored content: Greg Stancil, director of health care reform at Scott Benefit Services, shares his insights on the Affordable Care Act, including its impact in the state and the future of the federal health care reform law.
Operation HOPE is an Atlanta-based nonprofit that promotes financial literacy in partnership with banks, aiming to improve and empower the lives of people with poor credit or little understanding of investments, loans and other products. First Horizon National Corp., which operates mainly as First Tennessee Bank, has opened the first HOPE Inside location in […]
The judging is over and the winner of the best business card contest has been named. Many thanks to our judges. Our first judge was Laurie Smithwick, a Grammy-nominated designer, the founder of LEAP Design, a partner in the Alt Summit design conference, and a TEDx speaker. Our other judge was Winn Maddrey, vice president […]
Cathy Bessant, honored today with UNC Charlotte’s annual Distinguished Service Award, told a lunch crowd of about 200 people that she dreads her annual performance review. But the painful process has helped her understand the skills of her boss, Bank of America CEO Brian Moynihan. “He’s a world-class coach,” she said. “He actually knows me […]
Stack is vice president of administration and development for Beaufort-based Jarrett Bay Boatworks. He joined the Jarrett Bay team in June of 2014 after 16 years at the N.C. State Wolfpack Club, where he was associate executive director responsible for the day-to-day operations of the athletic fundraising organization. At the Wolfpack Club, he was in […]
Mission Health’s decision to sell to HCA Healthcare deserves close scrutiny by the public to insure significant benefits for western North Carolina that exceed the potential loss of huge future profits, says the CEO of a $2 billion health care system based in nearby Johnson City, Tenn. Asheville-based Mission isn’t releasing details publicly for at […]
In 1999, Gastonia native Joe Alala II raised $30 million for his first investment fund. Since then, his various companies organized as Capitala Group have invested more than $1.4 billion in small and mid-sized businesses across the U.S. It hasn’t all been milk and honey: Alala took business-development company Capitala Finance Corp. public in 2013 […]
A walk down Stonewall Street in downtown Charlotte made me realize how much I take for granted in terms of Charlotte’s rapid growth. Fact is, the seven-block stretch along Stonewall Street between Bank of America Stadium and a dowdy county office building near McDowell Street probably contains the greatest amount of money invested simultaneously in […]
For many years, experts have predicted the demise of many small private colleges, contending negative economic and demographic trends suggest a difficult future. It hasn’t happened in the 25 years that Hope Williams has led the N.C. Independent Colleges and Universities. The Raleigh-based group has 36 members, one fewer than when she became president […]
Margaret Collins is the founding executive director of the Center for Creative Economy based in Winston-Salem. The center serves as a hub providing programs and resources for creative entrepreneurs and business owners. CCE is the southeastern host for the national Creative Startups Accelerator. This eight-week program offers training in business skill development for creative entrepreneurs. […]
The UNC Chapel Hill School of Law ranked 45th in this year's survey by U.S. News & World Report. It's down from 31st in 2015. The decline is sparking changes though law school leaders say the report understates the quality of education provided at the school.
Axe-throwing is no longer a sport exclusive to summer Renaissance festivals, lumberjacks or high-caliber athletes. In fact, axe-throwing venues are now popping up all over the U.S.: The National Axe Throwing Federation, an organization specializing in regulating the industry, formed in 2016 and now has over 3,000 league members in more than 50 cities and […]
Atrium CEO Gene Woods sent a memo to employees Thursday suggesting that the system’s recent decisions involving two doctors’ groups have been “publicly misrepresented.” North Carolina’s biggest health care system is facing off in court with the owners of Southeast Anesthesiology Consultants, a Charlotte group of physicians whose contract is being replaced by another group. […]
Charlie Eadie is vice president of business development for Claris Construction, a design-build general contractor in Charlotte. Charlie enlisted in the Army as a Combat Engineer and served in the 25th ID before gaining admission to the United States Military Academy at West Point. He won the Truman Scholarship and the Marshall Scholarship and completed […]
The Charlotte Chamber’s annual Health Care Summit featured an interesting panel Wednesday in which three CEOs — Susan DeVore of Premier Inc., Carl Armato of Novant Health and Eugene Woods of Atrium Health — answered questions about their industry and “transformational change.” Charlotte Mayor Vi Lyles was the moderator. As often happens at meetings […]
From all reports, the Carolina Panthers ownership sweepstakes is getting closer to determining who draws the prize of having to pay upwards of $2.5 billion to own an NFL franchise. Whoever wins, we’d like to see the winning bidder group set aside an additional $100 million for dedicated local and state government use.
Updated with Atrium statement starting in second paragraph. Ninety-two physicians who work for Charlotte’s Mecklenburg Medical Group concluded it was time to take charge of their own destiny rather than submit to pressure from Atrium Health, North Carolina’s largest health care system, says CEO Dale Owen. So the group filed a lawsuit today in […]
Lest anyone doubt North Carolina is business friendly, the NC Chamber’s fifth annual scorecard on lawmakers’ voting patterns shows who is in charge. Of the N.C. General Assembly’s 170 lawmakers — 62% supported at least 80% of the chamber’s positions on 49 key bills last year. (Sorry, that’s a lot of numbers.) Of the 109 […]
One of North Carolina’s biggest money managers thinks investors are likely to earn average annual returns of 4.6% in stocks and 2.5% in bonds over the next five years. That limited growth is likely even though there are no signs of a recession, says Brent Ciliano, who oversees $20 billion as chief investment officer at […]
According to a new study released by the Institute for Women’s Policy Research, a Washington, D.C.-based nonprofit that promotes women’s rights, North Carolina ranked No. 31 in the country for female employment and earnings, a designated “C” rating by the report. The state also had dismal scores when it comes to political participation, poverty and […]
Many of the 258 breweries that have started in North Carolina over the last decade (according to the North Carolina Craft Brewers Guild) have also become fitness hubs for folks wanting to burn off that beer gut. A website business started in Charlotte by Penn State grads Melanie Fox and Alicia Thomas in December 2016 […]
Mission Health has led the North Carolina hospital industry in many ways for a long time, so maybe it’s appropriate that the Asheville-based health care system lead the consolidation wave. Nashville, Tenn.-based HCA is acquiring Mission Health for an undisclosed sum, pending approval by regulators including N.C. Attorney General Josh Stein. The buyer is somewhat […]
The pending sale of Mission Health System to HCA Healthcare would create the second-largest private foundation in North Carolina, trailing only the $3.5 billion Duke Endowment, according to officials of the Asheville-based hospital group. “It was the right time to do this,” Mission board member Tom Oreck says. “We are the strongest we’ve ever been. […]
Dr. Nady Hamid specializes in treating disorders of the shoulder and elbow. He completed his fellowship training in shoulder and elbow surgery at the esteemed Shoulder and Elbow Center at Washington University in St. Louis. Hamid traveled to Nice, France for further training in advanced arthroscopic shoulder surgery and complex shoulder reconstruction. He has published […]
UNC System President Margaret Spellings is raising the bar for the state’s campus leaders. In a State of the University speech at UNC Charlotte attended by several lawmakers and members of the Board of Governors, Spellings said the 17 chancellors have signed “customized performance agreements … all of them embracing measurable outcomes as a route […]
You oughta know Evan Stone is vice president of economic development at the Cary Chamber of Commerce. Previously, he was a business recruitment manager with the Economic Development Partnership of North Carolina, where he led our state’s efforts in recruiting Triangle Tyre to Edgecombe County. Prior to his role at EDPNC, Evan specialized in recruiting […]
Camping doesn’t typically conjure up images of air conditioning, running water or electricity. But Joanna Cahill, 34, has managed to marry the ideas of luxury and the great outdoors with her business, Asheville Glamping. Cahill started the company in 2012 with a single yurt, which are tents built on collapsable frameworks. Now, she rents out […]
Lynn Good, who became CEO of Duke Energy in July 2013, has had a lucrative run. Over the last four years, Good’s compensation has totaled $54.3 million, including $21.4 million last year, according to a proxy released last week. The latest payout includes $7 million in stock that hinges on Duke earning a return on equity […]
At 71, Bill Long is trying to do something no one else has done in North Carolina since 2008: start a new community bank. He’s a veteran banker with a lot of friends in Iredell County, where he’s lived for 30 years.
An executive search firm paid to recruit East Carolina University Chancellor Cecil Staton in 2016 has returned its $110,000 fee after UNC System officials criticized the consultants’ work over disputed past salary data. System President Margaret Spellings notified the UNC Board of Governors of the transaction involving Oak Brook, Ill.-based Witt/Kieffer in a Feb. 28 […]
Bull statue at Johnson C. Smith University Irwin “Ike” Belk was less known than his brothers Tom and John, the top executives for decades at the largest family-owned department-store chain in the U.S. But he led a truly fascinating life and made a huge impact, veteran North Carolina author Marion Ellis explained in his […]
For those who don’t yet know me, I’m Taylor Wanbaugh, the new assistant editor at Business North Carolina. Although I’m a newbie to the magazine, I’m certainly no rookie when it comes to North Carolina. Prior to moving to Charlotte last week, I worked at the National Society of Professional Engineers in Alexandria, Va. It […]
You oughta know Taylor Wanbaugh is the new assistant editor of Business North Carolina. She previously worked as a staff writer at the National Society of Professional Engineers in Alexandria, Va. She has a bachelor’s degree in journalism from the University of Missouri. While in school, Wanbaugh interned at a variety of publications including Raleigh’s […]
Tom Mitchell is the first new managing partner in 15 years at Moore & Van Allen , one of the largest N.C.-based law firms with about 300 lawyers in Charlotte, Morrisville and Charleston, S.C. A 24-year veteran of the firm, Mitchell succeeded the firm’s veteran leader, Ernie Reigel, in January. Mitchell chairs the firm’s […]
You oughta know Thad Walton is senior vice president of commercial middle-market banking for Regions Bank in North Carolina. He joined Birmingham, Ala.-based Regions in 2011 and has worked in commercial banking for 14 years. A native of Rowan County, Thad attended UNC Chapel Hill, where he earned his undergraduate business degree and was on […]
Eric Tomlinson has had a very cool job over the last six years, working as president and chief innovation officer at Winston-Salem’s Innovation Quarter. He’s helped breathe new life into the city’s downtown, aided by historic tax credits and his employer, Wake Forest Baptist Medical Center. More than 150 companies and 3,600 workers now […]
John Beatty joined Raleigh-based Summit Hospitality Group as general manager of The Dunhill Hotel in August 2013. John is responsible for providing strategic leadership while guiding a team of 80 as they provide legendary service for guests of 60-room historic Charlotte hotel and its restaurant, The Asbury. Under his leadership, The Dunhill was recognized as […]
It wasn’t the greatest week to launch a new investment product given the stock market’s volatility, but Capital Investment Cos. persevered with its new Carolinas Leaders Index. It’s a unit-investment trust made up of 71 Carolinas-based companies, each equally weighted. That means Bank of America, with a market cap of $321 billion, makes up the […]
Higher-education endowments posted an average 12.2% return in the latest fiscal year, a new study shows, with many North Carolina colleges and universities reporting double-digit gains.
North Carolina business and Russell Robinson II are almost synonymous so it’s no surprise that the venerable Charlotte lawyer received the 2018 Chief Justice’s Professionalism Award issued last week by the N.C. State Bar Association and N.C. Bar Association. The founder of the Robinson Bradshaw law firm has represented many of the state’s most […]
Patrick Conway, CEO of Blue Cross Blue Shield of North Carolina, sent a letter this week opposing the proposed tie-up between UNC Health Care and Carolinas HealthCare System,
Toyota-Mazda picked Alabama over North Carolina for a $1.6 billion plant. Consultant John Boyd analyzes the decision.
It was a great year to own stocks, particularly LendingTree which led the performance of Carolinas-based stocks in 2017. Seven stocks gained at least 40%, while another 21 jumped 20% or more. Conversely, 17 stocks declined at least 20%.
Six veteran investment pros selected their three favorite North Carolina stocks, and one to avoid, for 2018 in our annual forecasting contest. The prices are as of Dec. 1, 2017, when the pros submitted their picks. Eligible stocks include companies based in the state or with large employment or investment here. Thank you to the […]
Five N.C. stocks have jumped more than 15% over the last month, benefiting from a merger, tax reform and rebounding investor confidence.
Directors and officers insurance coverage, which protects the insured from legal liability stemming from wrongful acts, is often treated as an “out of sight, out of mind” matter. But the existence of good D&O coverage can have direct financial implications for the leaders at businesses of all sizes. John Garver III, who has practiced law […]
This article was published last month by Private Equity Real Estate, a website that tracks the private equity industry. This is a link to the story: http://bit.ly/2jkgarQ By Evelyn Lee North Carolina Retirement System is approaching a one-year absence from new alternatives investing, and meanwhile has been losing investment professionals since state treasurer Dale Folwell […]
Washington, D.C. analyst Greg Valliere doesn't see a recession looming. But a potential conflict with North Korea is concerning.
In a different time, Christopher Ayers might be a highly visible, Ralph Nader-esque type crusader to limit increases in utility bills and push for consumer-friendly innovation. Today would be prime time for the executive director of the North Carolina Public Staff, at a hearing scheduled in Raleigh to examine Duke Energy’s pitch for its biggest […]
KS Bancorp, a Johnston County-based community bank which is feeling takeover pressure from the Raleigh-based Holding family, says it wants to remain independent.
Look for Toyota-Mazda to put their $1.6 billion assembly plant in North Carolina, not Alabama, a site selection consultant says.
Here are the major movers in the Capital Investment Cos./Nottingham Index of Carolinas-based public companies for the week ended Nov. 1o.
Former N.C. State Sen. Bob Rucho discusses the pending transaction between Carolinas HealthCare System and UNC Health Care. The two systems have combined revenue of nearly $14 billion.
The N.C. State Treasurer’s office plans to manage $12.5 billion of passive investments in U.S. stocks on its own, without relying on outside financial services companies.
It was a terrible week for several Carolinas-based stocks. Eight posted declines of 8% or more, including three with 20% collapses. The big winner was Alliance One International, which jumped 27%.
You oughta know Steven McGlothlin is business development director for Gerber Collision & Glass in the Southeast U.S. Market. Operating as Boyd in Canada and Gerber Collision & Glass in the U.S., the Elmhurst, Ill.-based company has 475 collision repair centers in 21 states and Canada. Opening his first auto body facility in 1979, Steve […]
The Holding family is still pressing KS Bancorp Chief Executive Officer Harold Keen to sell his bank based in Smithfield in Johnston County. We wrote this summer on the Raleigh-based banking family’s desire to buy KS for $35 a share, or about $46 million. KS said it wasn’t interested in the bid, which was 50% […]
So which leading liberal politician said this on a visit to the Charlotte area last Friday?
The stunning ascent of LendingTree continues as its quarterly earnings smashed expectations. Old Dominion Freight Line gained more than 10%. Tougher news came from Speedway Motorsports, which reported less profit and revenue than expected as demand for Nascar and other auto racing events remained sluggish. Here are the major movers in the Capital Investment Cos./Nottingham […]