Corning is moving its optical division headquarters 45 miles east to be closer to Charlotte, while adding some jobs at its Hickory manufacturing site. The moves, which are supported by government incentives, reflect societal shifts in North Carolina.
Charlotte PR executive Bill Hensley knew Arnold Palmer during the golfing great's early days at Wake Forest University. Hensley describes how the Latrobe, Pa., native made it to North Carolina.
Korean shipper Hanjin's failure is affecting the Port of Wilmington, which counts on the carrier for about 7.5% of its revenue. Executive Director Paul Cozza is optimistic the failure's impact on North Carolina will be minimal.
Forty North Carolina companies were honored on Tuesday, Sept. 20, 2016, at Pinehurst Resort for being named to the 2016 Mid-Market Fast 40 list. Created by accounting firm Cherry Bekaert LLP and Business North Carolina magazine, the list ranks mid-size companies on revenue and employment growth. Companies who made the list were recognized at the […]
Peak 10's Dave Jones is stepping down as CEO, 16 years after founding the data center company. He's been one of North Carolina's biggest tech boosters.
My dog and I have a Labor Day tradition of watching the annual parade down Charlotte’s Tryon Street. I love parades, Maggie loves walks anywhere, anytime. It’s a fun affair with a few marching bands, a dozen or so politicians, folks representing various labor unions and the Democratic and Green parties, and lots of souped-up […]
The N.C. Supreme Court ruled that Carthage overstepped its authority by charging fees to home builders related to potential water and sewer improvements. The city may have to pay back two builders $123,000 and other N.C. munys may also face expensive clawbacks.
Three Greensboro businessmen started a mortgage-insurance business in 1963 that grew into one of the world's largest. AIG bought United Guaranty in 1981 and made billions of dollars over the years, until the housing recession of 2007. The company was sold this week to Arch Capital Group Ltd. for $3.4 billion.
Southern Season’s recent bankruptcy and pending auction represents a disappointing turn for the once-successful gourmet-foods retailer known for its curated collection of regional foodstuffs and amazing gift baskets. It’s particularly frustrating for those of us who worked at the original Chapel Hill store, learning a few life lessons in the process. Shortly after I graduated […]
The Golden Leaf Foundation is pledging $45 million to N.C. State University's plant sciences research project.
On the same day that construction started on the new $500 million Mercedes-Benz plant near Charleston, S.C., more than 100 Triad-area officials gathered in Greensboro to hear encouraging words about North Carolina’s efforts to attract the next major manufacturing expansion in the South. Perhaps the most encouraging comments at the event, sponsored by Raleigh-based strategic-communications […]
Four independent orthopedic physician groups across North Carolina have joined to form EmergeOrtho, one of the largest N.C. doctor-owned orthopedic practices. The practices, which employ a combined 126 physicians, are Blue Ridge Bone and Joint of Asheville, Hendersonville and Arden; Carolina Orthopaedic Specialists with offices in Alexander, Burke, Caldwell and Catawba counties; OrthoWilmington, with offices […]
North Carolina’s media is understandably obsessed with the economic impact of House Bill 2, and it was clear from N.C. Attorney General Roy Cooper’s July 13 news conference in Charlotte that he wants to keep as much emphasis on the controversy as possible. Embed from Getty Images But Cooper, in releasing a jobs plan in […]
It’s an understatement to say there’s an elephant in the room when it comes to North Carolina economic development. So in addition to Business North Carolina’s annual list of biggest job-creating projects — which gives a very optimistic view — our July issue tackled the House Bill 2 debate by discussing the controversy with about […]
Magazine staffers take home a total of five awards, including two golds and a bronze for Best Magazine, at this year's Alliance of Area Business Publications Editorial Excellence Awards in Des Moines, Iowa.
Raleigh's Paragon Commercial plans to raise more than $20 million in an initial public offering. After accounting for a stock split, original investors' shares have increased more than sixfold, says CEO Bob Hatley.
North Carolina’s most famous snowbirds, brothers Orville and Wilbur Wright, are having a moment 113 years after their historic first flight on the state’s Outer Banks. Hyperloop — the crazy-fast train that promises to fire passengers and goods through vacuum tubes at more than 600mph — tested its prototype in Nevada last month. Hyperloop One founders […]
Commercial inquiries about relocating to North Carolina have come to a “screeching halt,” according to Chris Schaaf, executive vice president of JLL, the large real estate brokerage company. Speaking at a real estate conference in Charlotte of more than 200 people, Schaaf said inquiries from out-of-state companies looking at relocating or expanding in North Carolina […]
By any measure, Ralph Ketner was one of the most amazing and colorful businessmen in North Carolina history. Starting with one Salisbury store in 1957, Ketner built a chain that had more than 680 stores when Ketner retired as chairman of the board in 1991. Business North Carolina’s Martin Donsky wrote the definitive magazine story […]
Vote For Your Favorite North Carolina Businesses Today! North Carolina is a state with plenty to offer residents. One of the reasons North Carolina is such a great place to live is the wonderful people and businesses throughout our community. From restaurants to florists, construction companies to lawyers, North Carolina has some truly incredible companies […]
A graduate of UNC Charlotte’s business school is slated to become CEO this summer of a large U.S. mutual fund company that is struggling to reverse a loss of assets under management. Philip Sanders, 56, will succeed Henry Herrmann as CEO of Overland Park, Kan.-based Waddell & Reed Financial Inc. on Aug. 1, according to […]
The North Carolina Railroad Company has acquired 630 acres at the Greensboro-Randolph Mega Site for $8 million, bolstering the project aimed at attracting a large manufacturer to the Triad region. “The project is going according to plan and we look forward to marketing the site to a major manufacturer, along with our partners,” President Scott […]
Former UNC System President Thomas Ross is joining a New York think tank founded by Paul Volcker to help rebuild trust and pride in government and other public institutions. Ross will be president of the Volcker Alliance, started in 2013 by the former Federal Reserve Board chairman who is credited with helping pull the U.S. […]
We wrote a Business North Carolina feature story last year on Jim Blaine, who has led the State Employees’ Credit Union of North Carolina since 1979, helping build the nation’s second-largest credit union with $33 billion in assets. On Monday, Blaine said he is retiring and ready to hand off the reins to a successor, […]
About 70 leaders of some of the world’s most influential law firms gathered in Charlotte last week for a three-day meeting hosted by the Robinson Bradshaw law firm. Interlaw promotes relations between member law firms from across the world, including 14 in the U.S., according to the group’s website. The association’s chairman, Michael Siebold, cited […]
Business North Carolina’s annual golf issue is out and, as always, it includes the listing of the top 100 courses in the state compiled by the North Carolina Golf Panel. In addition to the top 100, the panel also also provides various lists including best courses by region, “hidden gems” and top 50 courses you […]
PayPal’s decision to ditch its Charlotte expansion plans because of the controversy over House Bill 2 has sparked angry responses from state Republican lawmakers. Senate President Pro Tempore Phil Berger suggests the “liberal media” has aided Democratic politicians, gay rights groups and the “political correctness mob” to trash the reputation of the city and state. […]
Several years ago, the Charlotte Chamber embraced the LGBT community in Charlotte by welcoming an affiliation with the Business Guild, renamed last year the Charlotte LGBT Chamber, which has been a key voice for LGBT business leaders. It was an impressive decision that reflects greater acceptance of gay and transgender citizens and their vital economic […]
Mark Weinstein sat on a leather couch in the sun Saturday morning outside his Golden Oldies store at Broad Avenue and Elm Street in downtown High Point. High Point’s spring and fall furniture markets are his biannual Super Bowl, the two busiest weeks of his year, but opening day found him sitting down. “The big […]
Two weeks ago we wrote about how House Bill 2 would surely damage North Carolina’s brand. Unfortunately, in this prediction, we got it right. Now there’s a continuous cascade of denunciations of the bill by well-organized civil rights groups, hundreds of top business executives and celebrities, Triangle liberals and a few chambers of commerce. Privately, […]
We recently published a column noting Charlotte developer Johnny Harris’ penchant for straight talk. He didn’t like the column a whole lot, but we always admire his frankness. Harris kept up the tradition this week, slamming the General Assembly’s action on HB2 as harmful to North Carolina’s economy and image. In comments to the Charlotte […]
It’s annual meeting and proxy time, that season when public companies are forced to disclose salaries of their five highest paid executives. We’ll leave the grousing about excessive CEO pay to Bernie Sanders and others. We just wondered how CEOs of the larger North Carolina-based publicly traded banks compared with the big cats of state […]
Greenville investor Phil Lewis is seeking to shake up First South Bank, a Washington, N.C.-based community bank that has provided a lucrative ride for its longtime directors amid the banking industry’s struggles. First South, with assets of $885 million as of Dec. 31 and a stock trading at a price little changed from 15 years […]
North Carolina’s new law aimed at blocking discrimination based on race, biological sex, color, religion and national orientation — but not sexual or gender identity — is creating a national firestorm. We asked two employment-law experts in North Carolina for their perspectives. Luke Largess, a Charlotte lawyer with Tin Fulton Walker & Owen, was a […]
Many have wondered why the N.C. General Assembly included a provision in the controversial HB2 employment rights law that also blocks local governments from instituting higher minimum wage levels. Veteran Raleigh political observer Rob Schofield speculates that the N.C. Chamber helped to negotiate the action, which has received much less attention than the debate over […]
Raleigh-based Color Masters Painting Inc. is buying a Traverse City, Michigan-based painting company in a transaction that will likely boost sales by more than threefold over the next year, President Zeb Hadley says. The purchase of commercial painting contractor National Coatings Inc. is slated to close on April 15 for an undisclosed amount. Color Masters, […]
Congratulations to N.C. Reps. Chuck McGrady and Charles Jeter and N.C. Senators Fletcher Hartsell, Tom Apodaca and Tamara Barringer. They are the only Republican lawmakers standing up to the panderers who pressed for today’s special session at the N.C. General Assembly on the pretense of protecting people who use Charlotte bathrooms. Congratulations also to Gov. […]
James Maynard, one of North Carolina’s most esteemed investors and best known for his Golden Corral restaurants, got a big pay day through the February sale of Biologics Inc. to San Francisco-based McKesson Inc. The Cary-based cancer-drug sales company is a portfolio company of Maynard’s Investors Management Corp. Details of the sale were not provided […]
So N.C. Department of Transportation Secretary Nick Tennyson is taking a trip Monday to Texas to learn why a toll road between San Antonio and central Texas filed for bankruptcy this week. The move gives fresh hope to opponents of Ferrovial SA’s plans to add toll lanes on Interstate 77 north of Charlotte. Here’s what […]
So there has been much talk in the state’s economic- development community about landing the “Big One.” Megasites are being prepared and global automakers wooed to bring a plant and thousands of jobs to the Old North State. That’s well and good, but it’s also time to focus on something that was once here and […]
Unless you are among 18% of North Carolinians who receive Medicaid, the term induces either boredom or despair. The mechanics behind the government’s health insurance for low-income families and individuals are so complex, and the subject so distressing, that it’s much easier to just avoid the topic. But senior contributing editor Ed Martin took a […]
By now, you’ve seen the viral video of a Donald Trump supporter sucker punching a protester being led out of an election rally at the Crown Coliseum in Fayetteville. But did you read anywhere that the Crown and Cumberland County sheriff’s deputies did a fantastic job with crowd control and preparation for one packed house […]
Business North Carolina’s online newsletter, DevelopCLT, launched Thursday and I’m thrilled to introduce it to you. During our planning for this new publication, we met with some of you and learned that people in Charlotte’s commercial real estate market want to hear from others in the industry and we are embracing that concept. We aim […]
Last Friday, two Business North Carolina editors and I were fortunate enough to visit E.E. Waddell Language Academy in Charlotte as part of the Students@Work program which took place across the state all last week. Students@Work is a job-shadowing and job-mentoring initiative originated by the North Carolina Business Committee for Education in 2011. BNC is […]
Not casting blame, but maybe the sharp decline in HanesBrands stock Friday should have been an omen that this wasn’t the Carolina Panthers’ year. Hanes sells tons of briefs, hoodies and t-shirts, including a lot adorned with the Panthers’ logo. Sure, they sell a lot of Denver Broncos stuff too, but Hanes is — like […]
Ronnie Bryant, CEO of the Charlotte Regional Partnership, contributed an op/ed tied to the group’s 25th anniversary. Just like our Carolina Panthers, as Charlotte logs more wins, the Charlotte Regional Partnership gains more supporters throughout our 16-county, two-state region. Charlotte USA’s fan base, once exclusively composed of bigger companies and people with economic development in […]
Martin Marietta Materials Inc., the Raleigh-based company that is a national leader in selling stone, sand, gravel and cement for highways and other construction-industry sectors, reported earnings Tuesday that were less than expected by analysts. But shares shot up more than 10% in early trading as investors looked past the quarterly report. Sales of $781 million […]
New Hampshire’s liberal Democrats had their fun Tuesday, giving Bernie Sanders a resounding victory and something for the political media pack to talk about ahead of the South Carolina primary. But the disconnect between Sanders’ rhetoric and what’s happening in the real economy is remarkable. Best example: Sanders proposes significant income tax increases, while the […]
Carolinas HealthCare System, the Charlotte-based hospital operator with annual revenues of almost $9 billion in 2015, named Eugene Woods CEO to replace Michael Tarwater, who is retiring in June. “I am honored to be joining Carolinas HealthCare System,” Woods said in a press release. “This is one of the most comprehensive and highly integrated healthcare […]
Not sure if the Federal Reserve uses it as an economic gauge, but one measure of the optimism of the banking economy is the location of the lenders’ annual convention. When the 2007-09 recession ravaged loan portfolios, prompting significant industry losses and bailouts from the federal Troubled Asset Relief Program, North Carolina bankers settled for […]
While legions of sportswriters tracked every move by Marcus Paige, Grayson Allen, Roy Williams and Coach K in Tuesday’s hard-fought 74-73 Duke victory over UNC, only a few of us numbers nerds get as excited about data that gives a precise picture of the nation’s first public university. But it’s Christmas in February: This week […]
Don’t tell VF Corp. shareholders that global warming is a hoax. Last week when it reported quarterly earnings, the Greensboro-based apparel company missed its estimate by six cents a share, the most in recent memory, CEO Eric Wiseman said on the company’s quarterly conference call. Much of the blame, he said, stemmed from the warmest […]
Bob Geary, one of North Carolina’s best journalists, is ending his weekly column at Durham’s Indy Week, previously called Independent Weekly. His last one is worth reading. As usual, Bob shows he gives a darn about his state and community and explains key issues, backed by years of reporting — not just pontificating. Whether you […]
At a November conference call with investors, PowerSecure Inc. CEO Sidney Hinton was asked about how his company’s technology fit with changing energy-industry trends. He responded, “I feel like somebody that’s 7-foot tall and standing by the volleyball net and I just got the ball,” according to a Seeking Alpha transcript. Investors savvy enough to […]
It’s been 15 years since Tyrone “Muggsy” Bogues played professional basketball, but the NBA’s smallest player still knows how to bring in a big crowd. The stars of the day were the “MVPs” of Bogues’ nonprofit, Always Believe Inc., and guest speaker Kenny “The Jet” Smith, another retired pro (and UNC Chapel Hill standout in the 1980s) […]
“It’s 49 to f’in 15, man!” I heard this at least a dozen times near the end of the fourth quarter of the NFC Championship Game Sunday night in Charlotte. Thanks to winter storm Jonas, which left my brother-in-law and his family buried under 2 feet of snow in D.C., and therefore unable to make […]
(The Charlotte Observer)
There’s a good reason governors often struggle holding on to their office or moving up: They have to make very tough decisions while the Washington D.C. senators spend their time making speeches. That’s obvious from Gov. Pat McCrory’s quick turnaround on CSX’s plan to place a $272 million plant in Johnston County that would speed […]
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 Texas branches by opening its own offices and acquiring others from Citigroup and […]
Bank of America Corp. released its annual financial results Tuesday, showing that the largest North Carolina-based public company is past its recession-era woes and ready for a big bounce once interest rates increase. Investors were so impressed with the $16 billion in annual profit – the best showing in a decade — that shares declined […]
Even in a bad stock market, Qorvo has proven to be among the most disappointing North Carolina-based stocks. The company was formed on Jan. 1, 2015 through the merger of Greensboro-based RF Micro Devices and Hillsboro, Ore.-based TriQuint Semiconductor. Most of its revenue stems from selling chips for Apple’s iPhone and other smartphones – a […]
The new year dawned with a scary question: Did I have health insurance? Chances were good. One of the fortunate 49% of Americans, I’m offered health insurance through my employer, the owners of this magazine. I filled out the paperwork to leave my husband’s plan on Dec. 31 and join Blue Cross and Blue Shield of […]
In Business North Carolina‘s annual “Best stocks for 2016” feature, we asked five North Carolina investment pros to offer their three favorite stocks — and one to avoid. Charlotte asset manager Don Olmstead of Novare Capital Management suggested investors be wary of LendingTree LLC, noting it had tripled over the past three years and “its […]
N.C. Budget Director Lee Roberts left state government last week to join a startup asset management company called SharpVue Capital, whose parent company is Medical Mutual Insurance, the Raleigh-based company that sells medical malpractice insurance to more than 10,000 physicians in 27 states. As its name suggests, Medical Mutual is member owned, meaning the docs […]
One of Margaret Spellings’ first decisions as UNC President — she starts officially in March — was to recommend the hiring of Boston Consulting Group to review the UNC System’s operations, the News and Observer reported. Sounds like a smart move, particularly because some unidentified Mr. X or Mrs. X is picking up the $1.1 […]
Press Release 2016 marks the 50th anniversary of Parker Poe Adams & Bernstein LLP in Raleigh. The law firm, known for its general corporate, litigation, environmental, tax, real estate, lending and public policy practices, boasts a staff of 98 in its downtown Raleigh PNC Plaza office. With firm roots dating back to the late 1960’s, […]
The stock market’s historic, bloody first week of trading took out 10% or more of the market value of about 15 of North Carolina’s publicly traded companies. Worst hit was drug developer Cempra (CEMP), down 30%. Other big losers included building-materials dealer Stock Building Supply, (STCK) at 17%, exterior-siding company Ply Gem Holdings (PGEM), 16%, […]
Some things to know about interesting North Carolina businesses and people — Thursday was a horrible day for investors, but there was at least one silver lining amid the gloom: Snyder’s-Lance Inc. (LNCE) gained 3.6% to $35.09. The Charlotte-based company, which has traded between $29 and $39 over the past year, was recently cited […]
Press Release Raleigh, N.C. – Governor Pat McCrory announced two cabinet-level personnel changes today. At an Executive Mansion ceremony, Governor McCrory announced the appointment of Jeff Epstein as North Carolina’s Secretary of Revenue to replace Lyons Gray, who the governor had appointed to serve on the North Carolina Utilities Commission. Gray’s immediate move to the […]
The announcement Tuesday that the state-owned N.C. Railroad Co. would buy about 875 acres in a Randolph County industrial megasite for $13 million is “a marriage meant to be,” says Jim Melvin, former Greensboro mayor, current octogenarian and Triad booster extraordinaire. Time will tell whether another budding megasite on the Chatham County side of Randolph […]
Five things you should know about interesting companies, people and trends in and around the Old North State: — N.C. State Senator Bob Rucho, House Majority Leader Mike Hager and other North Carolina lawmakers held a hearing in Raleigh Monday to discuss various energy issues. During the meeting, Becki Gray, head of outreach at the […]
Five things I just learned about North Carolina-based public companies. Asheville-based Ingles Markets (IMKT.A) lost 13% of its value on Monday, topping the list of biggest losers among N.C. stocks. Ingles shares more than doubled in value over the year ended Nov. 1, partly on speculation of a possible sale as the grocery industry consolidates […]
Looking for stock ideas with a Tar Heel twist? Five investors with decades of experience following North Carolina-based stocks offered their favorite selections for 2016 — and one to avoid. The rationale for these picks is included in the January edition of Business North Carolina. Bobby Edgerton, co-founder, Capital Investment Cos., Raleigh Cree Inc. […]