Business North Carolina articles from May 2004

Business North Carolina archives from May 2004

Look at us now.(Up Front)(Business North Carolina )
May 1, 2004... Not long after the News and Observer Publishing Co. bought BNC in the mid-'80s--the first of three times the magazine has changed hands--Frank Daniels Jr. (still one of the owners) asked his cousin to check it out. Derick Daniels had been an...

Flipping out.(Letters)(Letter to the Editor)
May 1, 2004... Your Up Front ("Got Them Fry-Grill Blues") in the April issue hit me smack-dab between the eyes. I grew up in Roanoke Rapids in the 1940s, when it was a major cottonmill town, and those lyrics by Dorsey Dixon were on target. I never worked in...

The fear factory.(Letters)(Letter to the Editor)
May 1, 2004... I just read Up Front ("Blue-Collar Blues") in the March issue. My first impulse was to copy it and send it to the White House and Congress, but that probably wouldn't do much good. The question you pose has bothered me for several years. I've...

Harmed forces.(Letters)(Letter to the Editor)
May 1, 2004... I object to your article on the military in Eastern North Carolina (cover story, February). Three of the four photos on pages 16 and 17 show a pawnshop, a strip joint and a tattoo parlor. It perpetuates an unfair and untrue image of the...

Guns and money.(Letters)(Letter to the Editor)
May 1, 2004... I commend your February cover story. It is imperative we build a collaborative effort throughout our state to drive awareness of North Carolina as the most-friendly military state in the country. We must then develop a strategy to attract and...

Trend.(North Carolina)(Illustration)
May 1, 2004... Latest Previous Previous % change month month year from last year EMPLOYMENT Total employed (000s) 3,960.1 3,985.6 3,914.6 1.2 Civilian labor force...

State confronts growing competition for biotech.(Economic Outlook)(Interview)
May 1, 2004... A panel led by former governors Jim Hunt and Jim Martin released a 54-point plan in February for North Carolina's biotechnology industry. It sets a goal of having 125,000 jobs--a nearly seven-fold increase--by 2023 and calls for a five-year...

Call center will create 1,100 jobs.(Eastern)(Verizon Wireless Inc. new call center)(Brief Article)
May 1, 2004... Bedminster, N.J.-based cell-phone-service provider Verizon Wireless will complete a nearly $30 million call center in Wilmington by the end of the year. The company, which will get $7.2 million in state economic incentives and $2.9 million from...

AaiPharma.(Eastern)(Brief Article)
May 1, 2004... WILMINGTON -- AaiPharma's founder and chairman returned to his CEO role after disclosure that the drug maker had hired Atlanta-based law firm King & Spalding to investigate sales irregularities involving its top products, the asthma drug...

Ellery Homestyles.(Eastern)(Ellery Products Manufacturing Co. distribution center move)(Brief Article)
May 1, 2004... LUMBER BRIDGE -- New Yorkbased home-furnishings distributor Ellery Homestyles is moving its distribution center from Pinebluff to this Robeson County town. Company officials say it could employ up to 150, either transfers or new hires. Owners...

Local officials are negotiating with a drug company that might build a $70 million packing-and-distribution center here.(Eastern)(Brief Article)
May 1, 2004... WILSON -- Local officials are negotiating with a drug company that might build a $70 million packing-and-distribution center here. It would employ 300 and pay wages of at least $32,000 a year. The name of the company has not been disclosed. It...

Nash Community College.(Eastern)(Brief Article)
May 1, 2004... NASHVILLE -- Nash County is spending $6.5 million to build a science-and-technology center at Nash Community College.

Construction Systems.(Eastern)(moved)(Brief Article)
May 1, 2004... FAYETTEVILLE -- Lumberton-based Construction Systems moved into one of three buildings vacated when Time Warner Cable left for larger quarters last year. The company paid $405,000 for the 7,200-square-foot building and is spending $150,000 to...

Pasquotank County.(Eastern)(Brief Article)
May 1, 2004... ELIZABETH CITY -- Pasquotank County, which is attracting retirees and second-home owners, is requiring bigger lots--an acre each for houses with septic tanks, nearly double the former minimum. Officials say water quality will rise, but some...

Working capital.(Eastern)
May 1, 2004... Source: Employment Security Commission, January. Figures are not seasonally adjusted. The index is the number of jobs as a percentage of the average in 2000. [GRAPHIC OMITTED]

MCNC seeks funds for incubators.(Triangle)(MCNC Center for Microelectronic Technologies)(Brief Article)
May 1, 2004... Research Triangle Park-based MCNC, a nonprofit computing center, wants $160 million in state money over the next 10 years to pay for high-tech-business incubators. President David Rizzo says the investment in its North Carolina Innovation...

Youngstown, Ohio-based MS Consultants bought Marlow, Dreitzler and Associates.(Triangle)(Brief Article)
May 1, 2004... RALEIGH -- Youngstown, Ohio-based MS Consultants bought Marlow, Dreitzler and Associates, an engineering firm based here, for an undisclosed amount. MS says the purchase will bolster its transportation and storm-water business.

Tekelec.(Triangle)(moving production opeations to North Carolina plant)(Brief Article)
May 1, 2004... MORRISVILLE -- Calabasas, Calif.-based telecommunications-equipment maker Tekelec is shifting product-design and manufacturing-support operations from its head-quarters to its plant here. A spokesman did not know how much it would expand its...

Ultimus.(Triangle)(Ultimus Inc. (Carey, North Carolina) new office)(Brief Article)
May 1, 2004... CARY -- Ultimus, which makes software to automate business processes such as purchasing, opened an office in Dubai, United Arab Emirates. The company will increase employment 25% to 250 by the end of the year.

Alltel.(Triangle)(ALLTEL Arkansas Inc. closes call center)(Brief Article)
May 1, 2004... RALEIGH -- Little Rock, Ark.-based phone company Alltel closed a call center here, eliminating 45 jobs.

Capital Bank is selling three branches but plans to open offices in Greensboro, Asheville and Wake Forest by the end of the year.(Triangle)(Capital Bank Corp. of Raleigh)(Brief Article)
May 1, 2004... RALEIGH -- Capital Bank is selling three branches but plans to open offices in Greensboro, Asheville and Wake Forest by the end of the year. Raleigh-based First Citizens BancShares is buying the Warrenton branch. Mount Olive-based Southern Bank...

BPB.(Triangle)(new plant)(Brief Article)
May 1, 2004... ROXBORO -- Tampa, Fla.-based BPB plans to build a $100 million gypsum-wallboard plant here that could employ up to 200.

Raleigh-Durham leads the state in percentage of Internet users with broadband service.(Triangle)(Brief Article)(Illustration)
May 1, 2004... Raleigh-Durham leads the state in percentage of Internet users with broadband service. U.S. Metro Have rank area broadband 1 Honolulu 40% 2 San Diego 34 3 Rochester, N.Y. 32...

Fall lifts golf tournament.(Triad)(Chrysler Classic of Greensboro)(Brief Article)
May 1, 2004... The Chrysler Classic of Greensboro golf tournament looked as if it might be headed to the clubhouse after the 2002 event. It was the tournament's worst financial year since 1983, and none of the PGA Tour's top five money winners showed up...

International Legwear Group.(Triad)(acquired Ellis Hosiery Mills )(Brief Article)
May 1, 2004... WINSTON-SALEM -- Sock maker International Legwear Group bought Hickory-based Ellis Hosiery Mills for an undisclosed amount.

Unifi.(Triad)(restructuring)(Brief Article)
May 1, 2004... GREENSBORO -- Yarn maker Unifi will cut 400 of its 4,100 jobs by midsummer as part of a companywide restructuring. It is closing a 140-worker mill in Altamahaw in May and laying off 25 at its headquarters.

Sealy.(Triad)(securities, Kohlberg, Kravis, Roberts and Company L.P. investments)(Brief Article)
May 1, 2004... HIGH POINT -- New York-based Kohlberg Kravis Roberts & Co. paid $1.5 billion to a group of investors for controlling interest in mattress manufacturer Sealy.

Guilford Mills.(Triad)(Cerberus Capital Management acquisition)(Brief Article)
May 1, 2004... GREENSBORO -- New York-based Cerberus Capital Management is buying Guilford Mills for $107 million. The fate of Guilford's 2,600 employees hadn't been decided.

Kucera Pharmaceutical.(Triad)(filed for patent )(Brief Article)
May 1, 2004... WINSTON-SALEM -- Kucera Pharmaceutical has filed for patents on an anti-viral compound that has shown promise in treating severe acute respiratory syndrome. The drug still needs approval from the U.S. Food and Drug Administration.

Wakefield Associates.(Triad)(shopping center planning)(Brief Article)
May 1, 2004... BURLINGTON -- Raleigh-based Wakefield Associates and New York-based Kimco Realty are planning a 375,000-square-foot shopping center in western Alamance County. Expected cost is $16.1 million. It could open by late 2005.

Mutual-fund scandal scorches BofA.(Charlotte)(Brief Article)
May 1, 2004... Days before shareholders approved their merger, Charlotte-based Bank of America and FleetBoston agreed to a record $675 million settlement in connection with improper mutual-fund trading. BofA will pay $250 million in restitution and $125...

R.W. Garcia.(Charlotte)(R.W. Garcia Company Inc. planning new plant )(Brief Article)
May 1, 2004... LINCOLNTON -- San Jose, Calif.-based tortilla-chip maker R.W. Garcia will open a plant here in July. It will employ 25 initially and is expected to create 75 jobs.

Invista.(Charlotte)(Brief Article)
May 1, 2004... CHARLOTTE -- Textile-fiber maker Invista, a Wilmington, Del.-based subsidiary of DuPont, will open a regional office here that will employ 160. DuPont agreed in 2003 to sell Invista to Wichita, Kan.-based Koch Industries for $4.4 billion. Koch...

Duke Power.(Charlotte)(Brief Article)
May 1, 2004... CHARLOTTE -- The U.S. Justice Department, concluding that no action was warranted, closed its probe of Duke Power's regulatory reporting.

B & W Fiber Glass.(Charlotte)(Brief Article)
May 1, 2004... SHELBY -- Forest City-based B & W Fiber Glass is moving to a $3 million, 42,000-square-foot plant it is building here. It will open with about 20 employees, and its owners hope to double that within three years.

Belk.(Charlotte)
May 1, 2004... CHARLOTTE -- John Belk, chairman and CEO of the Belk departmentstore chain, is retiring in May. Belk, 84, is the son of founder William Henry Belk and has been with the company almost 60 years, the last 23 as chairman and CEO. Nephew Tim Belk...

Pavestone.(Charlotte)(Brief Article)
May 1, 2004... CHARLOTTE -- Dallas-based Pavestone, a concrete-stone maker, bought a plant here. It will bag rock and will make paving stones, retaining-wall segments and edgers. It will employ 50 initially and 100 when it reaches capacity.

Shelby schools spent the most per pupil of the region's 18 systems in 2002.(Charlotte)(Brief Article)(Illustration)
May 1, 2004... Shelby schools spent the most per pupil of the region's 18 systems in 2002. The top five: State Per-pupil rank System spending* 39 Shelby $7,228 43 ...

Plants keep sliding off the mountains.(Western)(Avondale Mills Inc.)(Brief Article)
May 1, 2004... The rash of western North Carolina plant closings continues with the shutdown of the Avondale Mills yarn plant in Burnsville. A company official says in a statement that the closing and loss of 163 jobs is due to foreign competition. Avondale...

Earth Fare.(Western)(plans more stores)(Brief Article)
May 1, 2004... ASHEVILLE -- Earth Fare, a naturalfoods supermarket chain based here, will open three stores this year, bringing its total to 10. The stores will be in Charlotte, Greenville, S.C., and Knoxville, Tenn.

Blue Ridge Parkway.(Western)(Brief Article)
May 1, 2004... ASHEVILLE -- Visits to the Blue Ridge Parkway declined 11% in 2003, possibly because of rainy weather. Dan Brown, superintendent of the 469-mile highway, says 20.3 million drivers used it.

APAC-Atlantic.(Western)(new plant )(Brief Article)
May 1, 2004... BLACK MOUNTAIN -- APAC-Atlantic will build a plant that will employ five and produce up to 240,000 tons of asphalt a year.

Anonymous donors have pledged $2.5 million--more than a third of what is needed--toward renovation of Pack Square and the City-County Plaza downtown.(Western)(Brief Article)
May 1, 2004... ASHEVILLE -- Anonymous donors have pledged $2.5 million--more than a third of what is needed--toward renovation of Pack Square and the City-County Plaza downtown. The 6.5-acre park is public, but the nonprofit group restoring it says private...

Fiberarts.(Western)(Interweave Press)(Brief Article)
May 1, 2004... ASHEVILLE -- Colorado-based publisher Interweave Press bought Fiberarts, a textile-art magazine, for an undisclosed amount. The magazine will move to Colorado, but some editorial functions will remain.

Fugazy Travel.(Western)(new building)(Brief Article)
May 1, 2004... ASHEVILLE -- Travel agency Fugazy Travel will build a 25,000-square-foot retail and office building here. Completion is expected this fall. The 15-employee agency will occupy part of it.

Bruton Smith might steer the rock's race to Texas.(Tar Heel Tattler)
May 1, 2004... Will Bruton Smith, the Charlotte billionaire who helped build stock-car racing into a major Tar Heel industry, be the person responsible for driving it out of Rockingham? Could be, under a proposed settlement for a lawsuit filed against...

Audit report docks ports chief's tenure.(Tar Heel Tattler)
May 1, 2004... Maybe something like this has happened to you. A business contact offers you tickets for a major sporting event, say, college football's Gator Bowl. He encourages you to bring the family. You think it might be a chance to discuss business so...

Rents won't be on par with last Open.(Tar Heel Tattler)
May 1, 2004... The 1999 U.S. Open at Pinehurst played to big crowds and rave reviews, especially after a dramatic final-hole win by Payne Stewart. It prompted the fastest repeat visit ever for the Open, which will return to Pinehurst No. 2 in June 2005. ...

The Da Vinci Code.(What They're Reading)(Brief Article)
May 1, 2004... The Da Vinci Code by Dan Brown "It has really generated discussion, especially on the subject of religious history. Many friends have recommended it, saying it is a suspenseful and thought-provoking book. It sounds like it will be a great...

Epiphany.(What They're Reading)(Brief Article)
May 1, 2004... Epiphany by Ferrol Sams "Epiphany is three novellas about people who had an epiphany or led others to have one. If your grandfather were still alive, these are the stories he would tell to shine a light on how to live your life and raise...

Franklin and Winston: An Intimate Portrait of an Epic Friendship.(What They're Reading)
May 1, 2004... Franklin and Winston: An Intimate Portrait of an Epic Friendship by Jon Meacham "I love to read about the pivotal period in history covered by Franklin and Winston. I'm a longtime admirer of Winston Churchill, who is a model for being true...

N.C. Department of Insurance.(Tattle Tales)(Brief Article)
May 1, 2004... * Can you hear me now?: The N.C. Department of Insurance received about 1,200 phone calls complaining about premium increases after Blue Cross announced record profits and that its charitable foundation had given away $10 million to nonprofit...

Information Technology Association of America.(Tattle Tales)(Brief Article)
May 1, 2004... * Consider the source: Outsourcing high-tech jobs to low-wage countries such as India will add $3.3 billion to the North Carolina economy and create 9,699 jobs here by 2008, according to a study by the Arlington, Va.-based Information...

Gardner-Webb University.(Tattle Tales)(Brief Article)
May 1, 2004... * Tangled Webb: The Atlanta law firm that Gardner-Webb University hired to advise it in a 2002 grade-changing scandal didn't make the grade, either. It has been indicted for practicing in North Carolina without a license.

N.C. Department of Agriculture.(Tattle Tales)(Brief Article)
May 1, 2004... * Scalped: Taxpayers will pay a New Jersey midway operator $50,000 for tickets it had printed for the 2003 State Fair before the N.C. Department of Agriculture canceled its contract because of bribes that led to the criminal convictions of...

Martha Stewart.(Tattle Tales)
May 1, 2004... * It's a good thing: There's a chance Martha Stewart will be sent to the same West Virginia prison where Phipps is doing time.

Dale Earnhardt.(Tattle Tales)
May 1, 2004... * Egging them on: A casting call for a Dale Earnhardt biopic brought hundreds of movie hopefuls to a Concord mall the week before Easter. Some didn't bring head shots for the casting director. A few quick thinkers had their kids' pictures taken...

Duke Energy.(Tattle Tales)
May 1, 2004... * The cost of failure: After leading Duke Energy to the worst year in its 100-year history, CEO Rick Priory departed with a $4.8 million severance package. [ILLUSTRATION OMITTED]

That's not all, folks.(Tattle Tales)
May 1, 2004... * That's not all, folks: Though Duke cast his departure as voluntary, it agreed to pay up to $65,000 for legal fees he incurred while negotiating his separation agreement.

Pennies on the dollar.(Data Bits)(Brief Article)(Illustration)
May 1, 2004... Of the 45 states with a sales tax, North Carolina has one of the lowest rates. 1 Colorado 2.9% 2 Alabama 4.0 Georgia 4.0 Hawaii 4.0 Louisiana 4.0 South Dakota 4.0 ...

Figuratively speaking.
May 1, 2004... * Percentage increase in foreign investment in U.S. real estate in 2003 over 2002: 59. Rank of the U.S. as the most stable and secure country for real-estate investment: 1. Of U.S. real estate as having the best opportunity for capital...

Goodrich spinoff needs sales in scale with price.(Money Matters)
May 1, 2004... Life doesn't get much better for CEOs than it was for Ernie Schaub in February. The head of Charlotte-based EnPro Industries Inc. (NYSE: NPO) recounted to analysts a year in which EnPro earned $33.2 million (after losing $3 million in 2002) and...

Tar heel stock watch.(Illustration)
May 1, 2004... Top 10 large-cap stocks 3-month 1-year 52-week Company change (1) change range Inveresk Research Group 20.2% 96.1% $12.85-28.92 Cree ...

Basnight eyes raising prices of some vices.(Capital)
May 1, 2004... If you smoke or drink, it soon might cost more to feed your habit. But don't snuff that butt or recork the bottle just yet. If you're ready to vote on a state lottery, you might get your chance. But don't bet on it. If you think taxes are too...

Unwired: N.C. has lost high-tech jobs at nearly twice the national rate.(Feature)(North Carolina)
May 1, 2004... If misery loves company, Fredrick McGriff should have been in a state of blissful sorrow. In November 2002, his job moved to Asia, where labor was cheaper. At 53, he was unemployed. He had to find a comparable job or get some training to switch...

Callus treatment: Century Furniture believes the best way to beat back mass-produced imports is to deal with things at hand.
May 1, 2004... Don't come to Century Furniture looking for low prices. That's not how the company has operated since 1947, when Harley Ferguson Shuford Sr. started it in Hickory. It has always concentrated on high-end pieces made by skilled craftsmen. ...

It's not easy being green: but, as Cherokee Investment Partners shows, it can be lucrative. So Tom Darden takes the good with the bad.(Cover Story)
May 1, 2004... The Burlington Mills plant in Mooresville sits shuttered. The glass-and-lattice design dates the entrance on its north side, where tall weeds along the sidewalk and in the parking lot sway with the breeze. Churned dirt hems in the south...

Sandhills: golf isn't region's only treasure.(Special Advertising Section: Regional Focus)(Advertisement)
May 1, 2004... About 1.1 million tourists make pilgrimages each year to the Sandhills region of North Carolina. Many are coming to Pinehurst, mostly for the worldclass golf courses there and in neighboring Southern Pines and Aberdeen. But while golf gets them...

The business North Carolina golf getaway.(Special Advertising Section: Golf)(Directory)
May 1, 2004... Win a North Carolina golf getaway for two. Just fill out the entry card at the end of this section for a chance to win. You also may request detailed information from the advertisers listed on the entry card. [ILLUSTRATION OMITTED] ...

With a slick move, he buys a competitor twice his size.(People)
May 1, 2004... Irvin Warren prides himself on being ready when opportunities present themselves. But his latest deal as chief executive of Dunnbased Warren Oil Co.--the $34 million acquisition of Coastal Unilube from El Paso Corp.--was one most executives...

This car dealer can't keep his ciao down.(People)(Steve Barney)
May 1, 2004... Steve Barney knew he wanted a change in 2000. He thought he'd get it retiring from Greensboro-based Foreign Cars Italia, the dealership he had owned or worked at for 20 years, selling Ferraris to Michael Jordan and dozens of Tar Heel...

Producer shows disc respect to space race.(People)(Spacecraft Films Inc)(Brief Article)
May 1, 2004... Spacecraft Films Inc. founder Mark Gray, 41, discovered success by combining a hobby and a skill. The former TV producer has tapped into a niche market of the DVD industry, and his company's fortunes have blasted off. Spacecraft Films uses...

Among his products are assault weapons.(People)(Tri-Tech Inc.)(Company Profile)
May 1, 2004... The popularity of TV dramas featuring forensic science has been a pleasant surprise for Jay Walker Jr., president of Southport-based Tri-Tech Inc., one of the nation's top manufacturers of evidence-collection kits. "Twenty years ago," Walker,...

Bricks & mortar.(Brief Article)
May 1, 2004... RJR instructed the New York architects to go for "an effect of conservatism along with attentiveness, but to avoid flashiness." Built in 1929, the 22-story Winston-Salem headquarters won Shreve & Lamb national acclaim and the contract to design...