Tuesday, November 29, 2022

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Beacon Partners buys a Sanford factory for $4.3M

(Charlotte Business Journal)

Charlotte's Beacon Partners real estate company paid $4.3 million for a Sanford plant that makes candy products facility, according to a deed. Developers are pouring money into Sanford, which has attracted some key advanced manufacturing and life sciences projects including Abzena and Astellas.

Former Lane Furniture employee files federal lawsuit

(Furniture Today)
A former Lane Furniture employee has filed a lawsuit against the company for its sudden shutdown and termination of its 2,700 employees via overnight emails and text messages without following federal WARN regulations. The shutdown ended the jobs of at least 530 employees in the state’s Piedmont Triad region.

Chapel Hill investor Morgan Creek ensnared in BlockFi filing

(Yahoo! Finance)
A $50-million investment by Chapel Hill investment firm Morgan Creek Digital is ensnared in the FTX spiral as the crypto company has filed for bankruptcy. Started in 2017 by Zac Prince and Flori Marquez, BlockFi was one among several crypto companies to introduce lending and borrowing where customers could use cryptocurrencies as collateral.

Decision on state’s energy future draws closer

(USA Today Network)
The N.C. Utilities Commission has a mandate to come up with what mix of power sources the state will adopt to help it meet a legislative goal to reduce carbon emissions by Dec. 31. The Tar Heel State committed to reduce carbon emissions by 70% from 2005 levels by 2030 and to reach carbon neutrality by 2050.

VinFast ships first vehicles to U.S.

(WRAL TechWire)
VinFast, the Vietnam-based electric vehicle manufacturer that’s chosen Chatham County for a huge new vehicle plant, has shipped its first 999 vehicles to the U.S. Chatham County was announced as the company’s first factory location in July.

Johnston County backs job-training center with $17.5 million

(Johnstonian News)
Johnston County commissioners agreed to contribute $17.5 million toward the cost of a job-training center in Four Oaks. The county leaders hope the center will lure advanced manufacturers to the Interstate 95 corridor, home to some of the county’s poorer towns. The 60,000-square-foot building will go on 4.5 acres. Johnston Community College will use about 70% of the space fo…

Reynolds, Philip Morris gain legal victories

(Winston-Salem Journal)
R.J. Reynolds Tobacco Co. and Philip Morris USA were handed significant legal victories by the Florida Supreme Court, which upheld a recent lower-court ruling on four Engle progeny lawsuits. Jury damages of at least $29 million were affected by the ruling.

AG Stein announces $6.6 billion settlement with drug makers over opioid crisis

(Public Radio East)
North Carolina Attorney General Josh Stein has finalized $6.6 billion in agreements with opioid makers Teva and Allergan over allegations that the companies contributed to the opioid crisis by overstating the benefits of the drugs, downplaying the risk of addiction and failing to maintain effective controls to prevent them from getting into the hands of those not prescribed the medications…