Business

This category contains 928 posts

Uwharrie Q3 net up 65%

Oct. 22. Uwharrie Capital Corp third-quarter net income rose 65 percent to $1.6 million compared to the same quarter in 2019. Net income available to common shareholders during the third quarter was $1.4 million or $0.20 per share compared to $826,000 or $0.11 per share for the same quarter in 2019, an increase of 80 […]

Pratt& Whitney investment valued at $650MM

Oct. 22. Pratt & Whitney will invest approximately $650 million over several years to build new manufacturing plant in Asheville. The company, a division of Raytheon Technologies Corp., will create 800 jobs through 2027. The 1 million square foot high-tech turbine airfoil production facility “signals a bright future in aviation even with the current challenges […]

Stein Mart in Cornelius

Stein Mart filing: A history of retail’s decline in 246 words

Oct. 22. Stein Mart will officially close its doors in the Shops at Fresh Market in Cornelius on Oct. 26. No replacement has been announced. Part of the Jacksonville, Fla. company’s bankruptcy filing said the retail industry was challenging even before the COVID-19 pandemic became widespread in March. The July resurgence in the coronavirus sank […]

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Birkdale Village will get a refresh with new owner

Oct. 19. By Dave Yochum. Birkdale Village will be sold to North American Properties for an undisclosed amount, according to sources. The 66-year-old North American has developed more than $7 billion in properties, including 22 million square feet of commercial space and 19,000 residential units in 15 states. The mixed-use project in Huntersville is apparently […]

Atrium launches 3 new COVID-19 clinical trials

Oct. 20. Atrium Health has launched three new COVID-19 treatment clinical trials, which are the only outpatient treatment trials available in the region to address the COVID-19 virus. All for outpatient use, the first trial is the Gilead Remdesivir Trial, the second is the Regeneron Trial and the third is the Regeneron Prophylaxis Trial. The […]

Partial consent judgments entered in SEC matter; Fla. developer charged

Oct. 19. The U.S. District Court for the Western District of North Carolina entered partial consent judgments against defendants Dana J. Bradley, Marlin S. Hershey, D. Bradley, Inc., Bryant Boys, LLC, Distressed Lending Fund, LLC, Erdnit LLC, Hershey Enterprises, Inc., MW Enterprises, LLC, Performance Holdings, Inc., and Performance Retire on Rentals, LLC for their involvement […]

RMC bringing 80 jobs to Newton

Oct. 16. RMC Advanced Technologies, a manufacturer of molded plastic and composite parts, will develop a new manufacturing operation in Newton, expanding a facility previously used for plastics manufacturing and bringing 80 jobs to Catawba County. RMC technology specializes in processes that support high-volume, high-speed, and large surface-area molding. A performance-based grant of $150,000 from […]

Benestar’s $24MM investment means 129 new jobs

Oct. 14. Benestar Brands, a snack food manufacturer, will invest $24 million to establish a new production facility in Kings Mountain. It means 129 jobs new jobs for Cleveland County. Benestar is the parent company of Evans Food Group. The rapidly growing snack food manufacturer is aiming for better access to the nation’s east coast […]

Cabarrus

Atrium, Wake Forest announce merger

Oct. 9. Atrium Health and Wake Forest Baptist Health, including Wake Forest School of Medicine, are officially joining together as a single enterprise in a “strategic combination” announced today. “We are reinventing ourselves yet again,” said Atrium CEO Eugene A. Woods. The merger will help the healthcare giant address the challenges facing the business of […]

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Home prices still climbing; more tear-downs coming

Oct. 9. By Dave Yochum. New data from S&P CoreLogic Case-Shiller shows year-over-year home price increases of 6 percent in Charlotte with homes selling almost as fast as they are listed. Only Phoenix (9.2 percent) and Seattle (7 percent) out-performed Charlotte in terms of residential price appreciation. Indeed, the suburban residential real estate market is […]

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