Business North Carolina articles from January 2006

Business North Carolina archives from January 2006

Lawyers, guns and money.(Erskine Bowles appointed as president of University of Carolina)
January 1, 2006... This Mover and Shaker of the Year, unlike last year's, isn't a lawyer even though he's featured in an issue of the magazine riddled with them. But he did once work for one so deft that his parry of an adversary's legal lunge still leaves minds...

Trend.(Illustration)
January 1, 2006... [GRAPHIC OMITTED] [GRAPHIC OMITTED] [GRAPHIC OMITTED] [GRAPHIC OMITTED] % change Latest Previous Previous from last ...

Stock watch.(Illustration)
January 1, 2006... SPOTLIGHT Tekelec stock fell 31% during a three-month period and 16% the day after CEO Fred Lax said he would resign at the end of 2005. [GRAPHIC OMITTED] [GRAPHIC OMITTED] Highest price/earnings ratios ...

Why Tar Heels got hosed at the pump.(ECONOMIC OUTLOOK)(Interview)
January 1, 2006... Looking for reasons why gasoline prices here are so much higher than a year ago and so much higher than in neighboring states? Blame speculators, refinery-ravaging hurricanes, the state's motor-fuel tax and yourself, says Gary Harris, executive...

Bruce Foods keeps getting into yams.(EASTERN)(Brief Article)
January 1, 2006... Bruce Foods, which processes sweet potatoes and other foods in Wilson, will add 52 jobs in the next three years as part of a $4.1 million expansion. State officials say the New Iberia, La.-based company also will increase its use of sweet...

North Topsail Beach and Surf City.(EASTERN)(government finance)(Brief Article)
January 1, 2006... TOPSAIL BEACH -- The town will get $600,000 from the federal government for beach nourishment projects scheduled to begin in 2009. The two other towns on Topsail Island -- North Topsail Beach and Surf City--will get a total of $175,000. About...

Pitt County.(EASTERN)
January 1, 2006... GREENVILLE -- Seeking more government grants and appropriations, Pitt County commissioners will spend $63,000 in 2006 to join Greenville in using The Ferguson Group of Washington, D.C., to lobby for the city and county in Washington. Under the...

Fly First Class.(EASTERN)(Brief Article)
January 1, 2006... WILMINGTON -- Fly First Class, a Fort Lauderdale, Fla.-based airline, will start flying from here to London by way of Bermuda, possibly as early as this month. Executives of the airline--which actually has three classes--say they expect to...

Fort Bragg.(Fort Bragg gains personnel)(Brief Article)
January 1, 2006... FORT BRAGG -- More than 20,000 people are expected to move here and to nearby communities during the next six years because of a nationwide shake-up of military operations. State officials had feared that the base might lose some of its nearly...

Working capital.(REGIONAL REPORT)
January 1, 2006... Source: Employment Security Commission, September. Figures are not seasonally adjusted. The index is the number of jobs as a percentage of the average in 2000. [GRAPHIC OMITTED]

Lenovo will build a think pad for R & D.(TRIANGLE)
January 1, 2006... Lenovo, part of Beijing-based Lenovo Group, will spend $84 million to build a research-and-development center in Morrisville and create 400 jobs over the next five years. Lenovo is based in Purchase, N.Y., and was formed last year by Lenovo...

Headway Corporate Resources.(TRIANGLE)
January 1, 2006... RALEIGH -- Headway Corporate Resources, a human-resources company, will move its headquarters here from New York City and open a recruiting center in Tarboro, creating 188 jobs and investing $4.3 million during the next five years. Forty-nine...

North Carolina Citizens for Business and Industry.(TRIANGLE)
January 1, 2006... RALEIGH -- Phil Kirk, 61, resigned as president and CEO of North Carolina Citizens for Business and Industry, a statewide business lobbying group. Kirk spent 16 years at the helm. "Now is a good opportunity to explore some new challenges," he...

Soleil Group.(TRIANGLE)
January 1, 2006... RALEIGH -- The City Council approved Cary-based Soleil Group's plans for a $90 million, 42-story building with a Westin hotel and condominiums across from Crabtree Valley Mall. Construction of what will be the city's tallest building could...

Progress Energy.(TRIANGLE)
January 1, 2006... RALEIGH -- Progress Energy will seek federal approval to build two nuclear power plants--one in the Carolinas and one in Florida. If approved by the U.S. Nuclear Regulatory Commission, the plants could begin operating in 2015. In a separate...

The American Institute of Certified Public Accountants.
January 1, 2006... The American Institute of Certified Public Accountants, a New York-based nonprofit, will move some operations from New York and Jersey City, N.J., to Durham, where it will create 360 jobs and invest $5.2 million over five years. Construction of...

Apax Partners.(TRIAD)(Apax Partners acquires Triad Laboratory Alliance)(Brief Article)
January 1, 2006... GREENSBORO -- Apax Partners, a New York-based investment group, bought a majority stake in Triad Laboratory Alliance, which does business as Spectrum Laboratory Network. Spectrum does medical testing for more than 7,000 physicians in the...

Hanes Dye and Finishing.(TRIAD)
January 1, 2006... WINSTON-SALEM -- Hanes Dye and Finishing, part of Conover-based textile maker Hanes Industries, planned to lay off half its 288 employees by the end of 2005. The company blamed imports from Asia, rising natural-gas prices and higher health-care...

EGL Eagle Global Logistics.(TRIAD)
January 1, 2006... WINSTON-SALEM -- Round Rock, Texas-based computer maker Dell chose Houston-based EGL, which operates as EGL Eagle Global Logistics, to manage supplies inside its assembly plant here. EGL will occupy 175,000 square feet of Dell's plant and...

International Home Furnishings Market Authority.
January 1, 2006... Judy Mendenhall, 67, announced her retirement as president of the International Home Furnishings Market Authority in High Point. She has led the authority since it was created in 2001 to coordinate the twice-yearly furniture markets. She told...

Timken gets its bearings in Randolph.(TRIAD)(business expansion)(Brief Article)
January 1, 2006... Canton, Ohio-based Timken, which makes ball bearings and other products, will spend $27 million over three years to expand its plant in Randleman. The expansion will be completed in mid-2007 and add 50 jobs for a total of 280. The average...

John S. Clark.(TRIAD)
January 1, 2006... MOUNT AIRY -- Tokyo-based Obayashi acquired John S. Clark construction company for an undisclosed sum. Clark will retain its name. The Japanese builder reported revenue of $13 billion in 2004. Clark has more than 300 employees here and in...

Distribution Technologies.(TRIAD)
January 1, 2006... GREENSBORO -- Distribution Technologies, a Newbury, Ohio-based trucking and logistics company, opened a terminal that employs seven.

BB & T.(TRIAD)
January 1, 2006... WINSTON-SALEM -- BB & T agreed to buy Bergen Capital, a Hasbrouck Heights, N.J.-based brokerage and investment bank. Terms were not disclosed. The deal should close in the first quarter. Bergen will become part of Richmond, Va.-based Scott &...

Tanger Factory Outlet Centers.(TRIAD)
January 1, 2006... GREENSBORO -- Tanger Factory Outlet Centers is building a 90-store, 352,000-square-foot shopping center in Charleston, S.C. It will open this fall. Tanger owns 33 shopping centers in 22 states.

Golding Farms Foods.(TRIAD)
January 1, 2006... CLEMMONS -- Golding Farms Foods added a second shift, increasing employment by 15 to about 75. Customers for its private-label and other sauces include Wal-Mart, Food Lion and Lowes Foods.

Deal makes Wachovia put it on plastic.(CHARLOTTE)(Wachovia Corp. issues credit cards )(Brief Article)
January 1, 2006... Charlotte-based Wachovia will begin issuing its own credit cards this month and sever ties with its current issuer, Wilmington, Del.-based MBNA, later this year. MBNA had been servicing credit cards for the bank since August 2000. A Wachovia...

National Tour.(CHARLOTTE)
January 1, 2006... CONCORD -- National Tour, which got $163,000 from the city and Cabarrus County to move here from Rancho Santa Margarita, Calif., in late 2004, filed for Chapter 11 bankruptcy protection. The company has debts of nearly $5 million but hopes to...

Robert Bosch Tool.(CHARLOTTE)
January 1, 2006... LINCOLNTON -- Robert Bosch Tool spent $2 million to increase production here and add 45 jobs, bringing employment at its factory and a nearby distribution center to about 550. New product lines include band saws, circular saws and masonry drill...

Haas CNC Racing.(CHARLOTTE)
January 1, 2006... KANNAPOLIS -- Haas CNC Racing will move its NASCAR teams from Harrisburg to a 140,000-square-foot headquarters it is building in Kannapolis Gateway Business Park. It fields one car in NASCAR's top division, the Nextel Cup. It employs 85 but...

Goodrich.(CHARLOTTE)
January 1, 2006... CHARLOTTE -- Goodrich, which makes aerospace products, bought Princeton, N.J.-based Sensors Unlimited for $60 million. Sensors designs and makes infrared technology--including surveillance and night-vision equipment. It has 50 employees.

DHL Holdings.(CHARLOTTE)
January 1, 2006... CHARLOTTE -- Plantation, Fla.-based DHL Holdings, which delivers packages and employs 175 locally, will spend $6 million to open an 80,200-square-foot service center at Charlotte/Douglas International Airport in April. The center will...

Portrait Corporation of America.(appointment of David Alexander as chief executive officer, president and chairman)(Brief Article)
January 1, 2006... Matthews-based Portrait Corporation of America hired David Alexander, 48, as its new CEO, president and chairman. Alexander, former president and chief operating officer of Matthews-based discount retailer Family Dollar Stores, succeeds Barry...

West Jefferson lands aerospace jobs.(WESTERN)
January 1, 2006... Smiths Aerospace Components, which has a 295-employee factory in Asheville, will spend $44 million to set up an operation in West Jefferson to make turbine-engine parts. Production will begin in February. Company executives say the plant is...

Emerson Electric.(WESTERN)(Facility closures)(Brief Article)
January 1, 2006... MURPHY -- Western Forge, part of St. Louis-based Emerson Electric, will close its plant here by April, idling about 170 workers. It opened in 1999 to make screwdrivers sold by The Home Depot and Sears. The company laid off 39 a year ago....

Simeus Foods.(WESTERN)(Production management)(Brief Article)
January 1, 2006... FOREST CITY -- Simeus Foods, which makes food for restaurants, will expand production at its 30-year-old operation, adding about 50 jobs to bring the total to more than 110. The $4.9 million project will be finished by April. Weekly wages will...

Broyhill Furniture Industries.(WESTERN)
January 1, 2006... LENOIR -- Broyhill Furniture Industries planned to close two factories here Jan. 1, cutting 421 jobs. It closed two other plants here in 2005 and turned a Rutherfordton plant into a distribution center, eliminating 644 jobs. Broyhill, part of...

Mission Hospitals.(WESTERN)
January 1, 2006... ASHEVILLE -- Mission Hospitals bought a former Continental Teves brake factory for $6.3 million and will use it to launder clothes, sterilize medical equipment and for other purposes. The plant closed in May 2003.

Furniture factory didn't know what it was missing.(TAR HEEL TATTLER)
January 1, 2006... Johnny Cash once had a hit about a Detroit autoworker who for decades smuggled parts out of the plant in his lunchbox until he had enough to build his own Cadillac. That guy had nothing on eight former employees at Bassett Furniture Industries'...

Counties stray from straight and narrow.(Alamance and Guilford counties)
January 1, 2006... Sometimes it's best to take a hard-line approach. That's what Alamance and Guilford counties haven't done in administering the boundary between them set in 1771. It looks straight on most maps. But zoom in, and the county line arcs about 350...

Loan arranger faces down masked men.(TAR HEEL TATTLER)
January 1, 2006... Self-Help Helps Itself. That was the headline on a study published by the Washington, D.C.-based Capital Research Center. It accuses Durham-based Self-Help Credit Union and its CEO, Martin Eakes, of making insider loans and understating credit...

All Marketers are Liars: The Power of Telling Authentic Stories in a Low-Trust World.(WHAT THEY'RE READING)(Brief Article)(Book Review)
January 1, 2006... Brad Brinegar, CEO, McKinney & Silver All Marketers are Liars: The Power of Telling Authentic Stories in a Low-Trust World by Seth Godin Godin explains that we seldom buy things because we need the features and benefits they offer. We...

It's Not About the Bike: My Journey Back to Life.(WHAT THEY'RE READING)(Brief Article)(Book Review)
January 1, 2006... Mark Tonnesen, CEO, Triad Guaranty It's Not About the Bike: My Journey Back to Life by Lance Armstrong with Sally Jenkins Armstrong takes us through the emotional roller coaster of his life. From overcoming long odds through the...

The Wicked Wit of Winston Churchill.(WHAT THEY'RE READING)
January 1, 2006... Ed Swartz, CEO, Static Control Components The Wicked Wit of Winston Churchill by Dominique Enright The book was a humorous insight into the man I consider the outstanding political leader of the 20th century. I enjoyed it immensely and...

U trn me on.(TATTLE TALES)(text messaging survey)(Brief Article)
January 1, 2006... U TRN ME ON: An Alltel survey of Charlotte wireless users showed most text messaging is done at work--but with relatives, not co-workers. Forty-one percent of respondents admitted they use texting to flirt. Jennifer Aniston is the celebrity...

Jackpot.(TATTLE TALES)
January 1, 2006... Jackpot: Tom Shaheen is the state lottery's first big winner. He'll pull down a $50,000 bonus--on top of his $235,000 executive director's salary--if he gets the games going by April 5.

Diamond in the rough.(World Beer Festival damages ball park)(Brief Article)
January 1, 2006... Diamond in the rough: The World Beer Festival, which drew 8,000 people after several days of heavy rain, left deep ruts in the outfield of Durham Athletic Park, former home of the Durham Bulls, that will take eight months and at least $10,000...

First, bury the hatchet.(TATTLE TALES)
January 1, 2006... First, bury the hatchet: Wiseman Mortuary in Fayetteville has been holding a man's body since July while two women, each claiming to be his wife, battle over where to bury him. It was hoped a judge would clear the air before 2005 ended.

Urine trouble now.(unruly airline passenger)(Brief Article)
January 1, 2006... Urine trouble now: A United Airlines flight was diverted to Charlotte after a Florida man lit a cigarette onboard, threw pretzels and a book of matches at flight attendants, then turned to a window and relieved himself when they refused to...

Data bits.
January 1, 2006... Population per lodging establishment is lowest in these mountain and coastal counties. Swain 229 Hyde 325 Dare 398 Watauga 894 Haywood 920 Transylvania 1,226 Macon ...

Briggs.(Cartoon)
January 1, 2006... "That's Briggs, our new department head. he's got an amazing knack for reducing complex problems into easy-to-understand witch hunts!" [ILLUSTRATION OMITTED] www.BRADVELEY.com

Figuratively speaking.
January 1, 2006... * Percentage of CFOs who say they consider the cell phone to be their most indispensable portable-technology device: 44. Laptop: 39. Wireless handheld: 8. * Percentage of employees who say morale at their workplace is good or excellent:...

Lawyer gathered evidence against Iraqi war criminals.(Alston and Bird LLP)(Interview)
January 1, 2006... Think you've had a bad day at work? Well, your problems--late-paying customers, a crashed network, whatever--pale in comparison with dodging hostile fire and wearing a flak vest to meetings. [ILLUSTRATION OMITTED] That was all in a...

VP says incentives computed for state.(PEOPLE)
January 1, 2006... When Dell Inc. officially opened its computer-assembly plant in Winston-Salem in October, there was plenty of fanfare. The plant, which took nine months to build, was headline-worthy: It is the Round Rock, Texas-based computer maker's largest...

The Atkins Diet has his business cooking.(PEOPLE)
January 1, 2006... John Troy's experience with the Atkins Diet mirrored that of many Americans. he got spectacular short-term gains but couldn't maintain them. Troy, 66, wasn't following the diet, which concentrates on foods low in carbohydrates and high in...

The man in the mirror: Erskine Bowles, UNC's new CEO and our Mover and Shaker of the Year, reflects what people want to see in him--for now.(FEATURE)
January 1, 2006... Much ballyhoo--some of it even believable--accompanied the hiring of Erskine Bowles as the new president of the University of North Carolina. Brad Wilson, chair of the UNC system's Board of Governors, lauds his "governmental and private-sector...

Stock advice: a panel of pros compete in predicting whose picks will produce the most profit in the year to come.
January 1, 2006... Take a peek at Frank Black's picture on page 33. Note the stern look. The dark glasses. The prairie-flat line of his mouth cutting across his face. Pair his last name with "Tuesday," and you've got the worst day in Wall Street history. It all...

Athwart torts: why the case politicians and special-interest groups make that lawsuits are crippling the economy doesn't stand up.
January 1, 2006... Children giggle and squeal as they churn the water in the wading pool at Medfield Area Recreation Club in Cary, but above the clamor a shriek jolts David Lakey. Standing nearby with other parents, he spots his 5-year-old daughter seemingly...

Legal Elite: after weighing their opinions, lawyers elected these as the state's best in 12 business-related specialties.
January 1, 2006... Each year, BUSINESS NORTH CAROLINA sets out to answer a simple question: Who are the best business lawyers in the state? No one knows the answer to that better than Tar Heel lawyers themselves. So the magazine mailed 17,336 ballots last...

Patricia L. Holland.(LEGAL ELITE PROFILES)(Brief Article)
January 1, 2006... CRANFILL, SUMNER & HARTZOG LLP 225 Hillsborough St., Suite 300 Raleigh, NC 27603 (919) 828-5100 Fax: (919) 828-2277 www.cshlaw.com E-mail:plh@cshlaw.com [ILLUSTRATION OMITTED] Patricia L. Holland is the...

James C. Hardin III.(LEGAL ELITE PROFILES)(Brief Article)
January 1, 2006... JAMES C. HARDIN III PLLC 6201 Fairview Road, Suite 200 Charlotte, NC 28210 (704) 944-4286 Fax: (704) 552-6332 E-mail: jhardin@jimhardinlaw.com [ILLUSTRATION OMITTED] Jim Hardin is a board-certified specialist in...

B. David Carson.(LEGAL ELITE PROFILES)(Brief Article)
January 1, 2006... ERWIN AND ELEAZER PA 831 E. Morehead St., Suite 840 Charlotte, NC 28202 (704) 369-7900 Fax: (704) 335-5433 E-mail: bdcarson@eelaw.net [ILLUSTRATION OMITTED] David is a partner at Erwin and Eleazer PA, focusing...

Hoyt G. Tessener.(LEGAL ELITE PROFILES)(Brief Article)
January 1, 2006... MARTIN & JONES 410 Glenwood Ave., Suite 200 Raleigh, NC 27603 (919) 821-0005 Fax: (919) 863-6074 www.MartinandJones.com E-mail: hgt@m-j.com [ILLUSTRATION OMITTED] Hoyt manages the firm's personal injury and...

Langdon M. Cooper.(LEGAL ELITE PROFILES)(Advertisement)
January 1, 2006... MULLEN HOLLAND & COOPER PA P.O. Box 488 Gastonia, NC 28053 (704) 864-6751 Fax: (704) 861-8394 www.mhc-law.com E-mail: lcooper@mhc-law.com [ILLUSTRATION OMITTED] Langdon M. Cooper, managing director of his...

Bob Clay.(LEGAL ELITE PROFILES)(Brief Article)
January 1, 2006... PATTERSON, DILTHEY, CLAY, BRYSON & ANDERSON LLP 4040 WestChase Blvd., Suite 550 Raleigh, NC 27607 (919) 821-4020 Fax: (919) 829-0055 www.pattersondilthey.com E-mail: BClay@pattersondilthey.com [ILLUSTRATION...

James K. Pendergrass Jr.(LEGAL ELITE PROFILES)(Brief Article)
January 1, 2006... PENDERGRASS LAW FIRM PLLC 4101 Lake Boone Trail, Suite 202 Raleigh, NC 27607 (919) 510-9559 Fax: (919) 510-0190 E-mail: jpendergrass@pendergrasslawfirm.com [ILLUSTRATION OMITTED] Mr. Pendergrass concentrates his...

Mark E. Anderson.(LEGAL ELITE PROFILES)(Advertisement)
January 1, 2006... PATTERSON, DILTHEY, CLAY, BRYSON & ANDERSON LLP 4040 WestChase Blvd., Suite 550 Raleigh, NC 27607 (919) 821-4020 Fax: (919) 829-0055 www.pattersondilthey.com E-mail: MAnderson@pattersondilthey.com [ILLUSTRATION...

Ronald C. Dilthey.(LEGAL ELITE PROFILES)(Advertisement)
January 1, 2006... PATTERSON, DILTHEY, CLAY, BRYSON & ANDERSON LLP 4040 WestChase Blvd., Suite 550 Raleigh, NC 27607 (919) 821-4020 Fax: (919) 829-0055 www.pattersondilthey.com E-mail: RDilthey@pattersondilthey.com [ILLUSTRATION...

Robert D. Walker Jr.(LEGAL ELITE PROFILES)(Brief Article)
January 1, 2006... WALKER, ALLEN, GRICE, AMMONS & FOR LLP 1407 W. Grantham St. Goldsboro, NC 27530 (919) 734-6565 Fax: (919) 734-6720 www.nctrialattorneys.com E-mail: bob@nctrialattorneys.com [ILLUSTRATION OMITTED] The members...

School's out: coastal businesses praise calendar change.(SPECIAL ADVERTISING SECTION)(Advertisement)(Calendar)
January 1, 2006... An often-quoted study of tourism by East Carolina University professor James Chandler proclaims that a 10-day delay in the start of the public-school year would produce additional tourism revenue of $377.5 million a year for North Carolina. The...

Bricks & mortar.(Brief Article)
January 1, 2006... He loved the biscuits and ham. Author Thomas Wolfe grew up in this boarding house run by Julia, his mother. It had 29 rooms when he left Asheville for UNC in 1916. Fire gutted it in 1998, but a $2.4 million restoration in 2004 proved for...