Business North Carolina articles from November 2003

Business North Carolina archives from November 2003

Where to lay blame.(Pillowtex's closing)(Letter to the Editor)
November 1, 2003... We agree and disagree with the last couple of points in September's Up Front about Pillowtex's closing. Yes, we should be mad at someone. No, we shouldn't dismiss the issue as something no one can address. We should be mad at (at least)...

Wages of thin.(Letters)(Letter to the Editor)
November 1, 2003... Regarding the September Economic Outlook on Sorien Schmidt, here are questions and comments a thoughtful reader might have: 1. Is the 60% [of N.C. parents who don't make a living wage] figure she throws out based on the federal definition...

Trend.(Economic conditions)(Illustration)
November 1, 2003... [GRAPHIC OMITTED] [GRAPHIC OMITTED] [GRAPHIC OMITTED] [GRAPHIC OMITTED] [GRAPHIC OMITTED] [GRAPHIC OMITTED] Latest Previous Previous %change ...

Worried employers keep a lid on raises.(Interview)
November 1, 2003... Bruce Clarke is CEO of Capital Associated Industries, a Raleigh-based employers association, which for 30 years has conducted pay surveys in 55 counties in the eastern half of the state. This year's survey of 393 employers, with 66,000 workers,...

Universal Leaf North America.(opens new plant in Nashville)(Brief Article)
November 1, 2003... NASHVILLE -- Richmond, Va.-based Universal Leaf North America opened a $100 million plant here that will employ about 1,000 by the end of the year. Some of the jobs came from consolidating operations when the company closed plants in Henderson...

New Hanover Regional Hospital.(Novant Health bid declined)(Brief Article)
November 1, 2003... WILMINGTON -- New Hanover County commissioners rebuffed an offer from Winston-Salem-based Novant Health to buy publicly owned New Hanover Regional Hospital. Novant's bid was not disclosed, though public records indicate the hospital is worth...

Cape Fear Valley Health System expects to spend about $200 million to expand and renovate medical clinics and specialty hospitals, including converting the 133-bed Highsmith-Rainey Hospital to a long-term care center.(Eastern)(Brief Article)
November 1, 2003... FAYETTEVILLE -- Cape Fear Valley Health System expects to spend about $200 million to expand and renovate medical clinics and specialty hospitals, including converting the 133-bed Highsmith-Rainey Hospital to a long-term care center. Also...

The town council approved a $6 million development of homes on the western tip of this island despite reservations that the houses will be vulnerable to storms.(Oak Island, North Carolina)(Brief Article)
November 1, 2003... OAK ISLAND -- The town council approved a $6 million development of homes on the western tip of this island despite reservations that the houses will be vulnerable to storms. Members said that the project by developers Stuart Cooke and John...

The state will build a 1,000-bed prison that will employ about 400 with an annual payroll of $12 million.(Eastern)(Brief Article)
November 1, 2003... TABOR CITY -- The state will build a 1,000-bed prison that will employ about 400 with an annual payroll of $12 million. Construction will begin in fall 2004.

TRW Automotive.(phase out operation at Greenville plant)(Brief Article)
November 1, 2003... Livonia, Mich.-based TRW Automotive will start phasing out operations at its Greenville plant early next year. About 230 will be laid off. Work at the plant, which produces steering parts for various automakers, will be shifted to Tennessee and...

Working capital.(Eastern)(Brief Article)
November 1, 2003... North Carolina's unemployment rate climbed to 6.9% in July. Rates increased in 33 counties, remained the same in seven and decreased in 60. Vance County, for the fourth straight month, had the highest rate--14.2%. Dare, at 1.6%, had the lowest....

Pergo.(Triangle)(Brief Article)
November 1, 2003... GARNER -- Swedish flooring maker Pergo will spend about $16 million to improve its 153,000-square-foot plant. Among the changes is installation of a laminating press. The company was not sure how the improvements, to be completed in mid-2004,...

The Pantry.(to buy Golden Gallon stores)(Brief Article)
November 1, 2003... SANFORD -- The Pantry is buying 138 Golden Gallon convenience stores in Tennessee and Georgia from Ahold USA, a subsidiary of Dutch retailer Ahold. Terms were not disclosed. Golden Gallon had sales of $375 million in 2002.

Pozen.(Triangle)(Royalties)(Brief Article)
November 1, 2003... CHAPEL HILL -- Pozen sold U.S. commercialization rights for MT 300, its injectible migraine treatment, to San Diego-based Xcel Pharmaceuticals. Xcel will pay $2 million upfront and up to $8 million more if MT 300 wins regulatory approval from...

Bayer Biological Products'.(Gamunex treatment)(Brief Article)
November 1, 2003... RESEARCH TRIANGLE PARK -- The FDA approved Bayer Biological Products' Gamunex, a treatment for hereditary immune disorders. It will be made at the company's Clayton campus, which employs about 1,600. The company is a division of Germany-based...

Caterpillar.(Triangle)(Brief Article)
November 1, 2003... SANFORD -- Heavy-equipment maker Caterpillar, based in Peoria, Ill., planned to open a 75,000-square-foot warehouse in October. It will employ 25 and supply its plant here, which makes skid steerers and other construction equipment.

UNC Chapel Hill and Duke researchers will team up with peers at Emory, Alabama-Birmingham, Florida and Vanderbilt on a $4.5 million project to develop vaccines, treatments and diagnostic tests for infections such as severe acute respiratory syndrome and potential bioterrorist organisms such as smallpox.(Triangle)(Brief Article)
November 1, 2003... UNC Chapel Hill and Duke researchers will team up with peers at Emory, Alabama-Birmingham, Florida and Vanderbilt on a $4.5 million project to develop vaccines, treatments and diagnostic tests for infections such as severe acute respiratory...

Before it had closed a deal to buy Burlington Industries, New York-based WL Ross & Co. offered to buy another Greensboro textile company, denim maker Cone Mills.(Triad)(Brief Article)
November 1, 2003... GREENSBORO -- Before it had closed a deal to buy Burlington Industries, New York-based WL Ross & Co. offered to buy another Greensboro textile company, denim maker Cone Mills. Ross' bid of $90 million was approved by Cone's board. Cone lost 15...

Unifi.(Triad)(Brief Article)
November 1, 2003... GREENSBORO -- Yarn maker Unifi will cut 240 jobs, about 6.5% of its domestic work force, by the end of November. The biggest job loss, 115, will come in Yadkin County, while 107 jobs will be cut in Rockingham County. The remaining losses will...

Jones Apparel Group.(Triad)(Brief Article)
November 1, 2003... RURAL HALL -- Jones Apparel Group will close its distribution center here in January, putting about 130 out of work. The clothes maker, based in Bristol, Pa., will transfer work to its other distribution centers. Its brands include Gloria...

Oakwood Homes.(bankruptcy protection)(Brief Article)
November 1, 2003... GREENSBORO -- Oakwood Homes hopes to emerge from Chapter 11 protection at the end of November, a year after it entered bankruptcy. Its reorganization plan is subject to approval of a bankruptcy judge and creditors.

North Carolina Biotechnology Center.(hires director)(Brief Article)
November 1, 2003... WINSTON-SALEM -- The North Carolina Biotechnology Center hired a director for its first office outside the Triangle. Gwyn Riddick, a chemicals-industry veteran and former director of economic development and corporate training at Guilford...

Tower Mills.(Triad)(Brief Article)
November 1, 2003... BURLINGTON -- After nearly 75 years in business, Tower Mills will close, idling about 100 workers by the end of the year. The hosiery maker's executives blamed competition from cheaper imports, recession and casual-dress styles.

Graham & Boles Properties bought Crowder McChesney & Associates.(Triad)(Brief Article)
November 1, 2003... WINSTON-SALEM -- Graham & Boles Properties bought Crowder McChesney & Associates. Terms weren't disclosed. Graham & Boles had sales of $340 million in 2002. The deal created a residential real-estate agency that had combined sales of $440...

Total Information Source.(bought by First Advantage Corp.)(Brief Article)
November 1, 2003... WINSTON-SALEM -- St. Petersburg, Fla.-based First Advantage Corp. bought Total Information Source, an employee-background screening service. Terms weren't disclosed.

R.J. Reynolds Tobacco Holdings.(to cut jobs)(Brief Article)
November 1, 2003... R.J. Reynolds Tobacco Holdings is cutting 2,600 jobs--40% of its work force--as part of an effort to trim $1 billion from its annual costs--last year, they exceeded $5.4 billion--by the end of 2005. About 1,700 of the job cuts will be in North...

Continental Tire North America.(cuts 100 jobs)(Brief Article)
November 1, 2003... CHARLOTTE -- Continental Tire North America, a division of Germany-based Continental AG, cut about 100 jobs from its headquarters here in an effort to return the company to profitability by 2005. About 600 will remain. About 1,400 workers at...

Wake Forest University's Babcock Graduate School of Management.(Charlotte)(Brief Article)
November 1, 2003... CHARLOTTE -- Wake Forest University's Babcock Graduate School of Management named Dan Fogel dean of its Charlotte MBA programs. He will oversee the evening program and new Saturday MBA program, which begins in January. He was director of the...

Carolina Beverage.(expands distribution of soft drink)(Brief Article)
November 1, 2003... SALISBURY -- Carolina Beverage is expanding sales of its Cheerwine soft drink into Texas, Alabama and Louisiana. The company also expanded availability of the cherry-flavored drink in Tennessee and Virginia.

Presbyterian Healthcare.(Charlotte)(Brief Article)
November 1, 2003... CHARLOTTE -- Edward Case, president and chief executive of Presbyterian Healthcare, resigned. Case, who started in August 2000, was Presbyterian's third CEO in six years. The hospital group, owned by Novant Health in Winston-Salem, cited...

MedCath.(Charlotte)(Brief Article)
November 1, 2003... CHARLOTTE -- MedCath President and CEO David Crane resigned. The company, which develops and operates heart hospitals, says he left to pursue other business interests.

Norton Door Controls.(adding jobs)(Brief Article)
November 1, 2003... MONROE -- Norton Door Controls, owned by Swedish lock maker Assa Abloy, plans to add 35 jobs to the 250 at its plant here by the end of the year. It's closing a plant in Mississippi.

Air T, which delivers air cargo, sold its Mountain Aircraft Services subsidiary.(Charlotte)(Brief Article)
November 1, 2003... MAIDEN -- Air T, which delivers air cargo, sold its Mountain Aircraft Services subsidiary. A group of investors led by MAS executives bought the business for $1.85 million. MAS provides aviation-related parts brokerage and repair services.

Royal & SunAlliance USA.(sells business lines )(Brief Article)
November 1, 2003... Royal & SunAlliance USA, based in Charlotte since 1986, sold most of its business lines to Hartford, Conn.-based Travelers Property Casualty Corp. R & SA's struggling parent, London-based Royal & SunAlliance Insurance Group, is refocusing on...

Beacon Blankets.(mill destroyed by fire)(Brief Article)
November 1, 2003... SWANNANOA -- Fire destroyed the Beacon Blankets mill. The million-square-foot plant was built in 1925 and once employed 466. It closed in April 2002, with officials citing import competition. There was no immediate loss estimate.

American Uniform.(Western)(Brief Article)
November 1, 2003... ROBBINSVILLE -- Cleveland, Tenn.-based American Uniform planned to close its sewing plant in October, idling 34. The company blamed a weak economy.

TDP Electronics.(closure)(Brief Article)
November 1, 2003... SWANNANOA -- TDP Electronics will close Nov. 21, leaving 150 without jobs. Fort Worth, Texas-based Radio Shack owns TDP, which makes small electronic parts sold in Radio Shack stores.

Grove Park Inn.(Western)(Brief Article)
November 1, 2003... Grove Park Inn is proposing a $250 million project for Pack Square, Asheville's town square, that would include a 15-story building of condominiums and stores. Grove Park faces opposition from some neighboring property owners concerned that the...

Researchers blame RTI for agony over Ecstasy.(Tar Heel Tattler)
November 1, 2003... A year ago, researchers at Baltimore's Johns Hopkins University School of Medicine reported that even light use of the recreational drug Ecstasy, popular for its ability to foster empathy among people, could cause lasting brain damage. The...

FinancialContent/business North Carolina index.(Tar Heel Tattler)(Brief Article)
November 1, 2003... North Carolina large-cap stocks slipped in the past month, despite healthy gains by some high-tech and energy companies. Small caps gained a little, aided by a couple of military-footwear makers. 52-week return N.C. large caps--72% ...

Dale Earnhardt Jr.(Tattle Tales)(NASCAR driver didn't remove his cap which sponsors the King of Beers at elementary school)(Brief Article)
November 1, 2003... Hops to it: NASCAR drivers don caps bearing their sponsors' logos after races, but Dale Earnhardt Jr. caused a flap when he didn't doff his during an appearance at the Mooresville elementary school he once attended. The crown prince of racing's...

Cruel and unusual.(Tattle Tales)(Brief Article)
November 1, 2003... Cruel and unusual: Watauga County cut a deal with the local hospital to cater meals for jail inmates. Well, the price was right: $9.84 per day per prisoner.

Employment Security Commission.(cuts employees)(Brief Article)
November 1, 2003... Help unwanted: The Employment Security Commission, which handles unemployment claims, let go 120 employees--most of them part-time--in September.

William Daisy.(steps down as chief district judge)(Brief Article)
November 1, 2003... No laughing matter: Hear the one about the judge who e-mailed jokes about Jews, Hindus and blacks from his office computer? William Daisy stepped down as chief district judge in Guilford County after news of his missives made it into the media....

North Carolina Museum of Art.(Tattle Tales)(Brief Article)
November 1, 2003... Party pooper: A party for a departing North Carolina Museum of Art staffer fizzled after an investigator for the state auditor's office crashed the affair to find state employees imbibing beer and wine during work hours.

Roger Sheats.(disregards research of consulting firm)(Brief Article)
November 1, 2003... Try again: N.C. Deputy Transportation Secretary Roger Sheats didn't like a New York consulting firm's conclusion that it would take 25 years and at least $439 million to build carpool lanes on I-40 in the Triangle. Even though the state paid $2...

Drug money.(pharmacists' compensation)(Illustration)
November 1, 2003... Pharmacists can make more outside the three biggest metro areas. (000s)* 1 Fayetteville $87.1 2 Greenville 87.0 3 Greensboro 86.3 4 Raleigh 86.2 5 Charlotte 85.4 6 Asheville 85.3 7...

Correction.(Correction Notice)
November 1, 2003... The Chemtronics that operated a hazardous-waste site in Swannanoa (Regional Report, September) is not Georgia-based ITW Chemtronics.

Tar heel stock watch.(Money Matters)(Illustration)
November 1, 2003... Expensive stocks Highest price-earnings ratios among North Carolina stocks P/E 09/26/03 52-week Company ratio* price range MedCath ...

Tar heel stock watch.(July-September 2003)(Illustration)
November 1, 2003... Rankings based on three-month price change July-September Top 10 large-cap stocks 3-month 1-year 52-week Company change change range RF Micro Devices 53.9%...

Watts up, doc?(Cover Story)
November 1, 2003... A guard in green fatigues and a flak jacket pokes his head through the door of the gatehouse. "Pull over there and shut it off," he orders, motioning with his M-16 to a bare patch of pavement. A second guard, his rifle held low, trots into...

Mooresville race city still has vroom for growth.(Special Advertising Section)(Mooresville, North Carolina)(Advertisement)
November 1, 2003... Fasten your seatbelt!" That's the advice from Melanie O'Connell Underwood, executive director of economic development for the Mooresville-South Iredell Chamber of Commerce when asked how to prepare for Mooresville's future. "We're a vibrant,...

Blockade-Runner Beach Resort.(Special Advertising Section: Meeting & Convention Guide)(Brief Article)(Advertisement)
November 1, 2003... Fall is the best time for meetings at the beach! The water is still warm, the crowds have left and the rates are great. You'll find our completely renovated lobby and meeting space, high-speed wireless internet access, state of the art...

Historic Wilmington and North Carolina's Cape Fear Coast.(Special Advertising Section: Meeting & Convention Guide)(Advertisement)
November 1, 2003... Historic Wilmington and North Carolina's Cape Fear Coast have been luring meeting planners and attendees with a variety of meeting facilities, attractions, wide sandy beaches and a subtropical climate. Almost limitless opportunities await those...

Chetola.(Special Advertising Section: Meeting & Convention Guide)(Brief Article)(Advertisement)
November 1, 2003... Located on 87 magnificent acres, Chetola Resort at Blowing Rock features exceptional accommodations, dining and activities for your next meeting. Take a fly fishing excursion with Orvis Outfitters or enjoy whitewater rafting, snow skiing,...

Conference center.(Special Advertising Section: Meeting & Convention Guide)(Brief Article)(Advertisement)
November 1, 2003... A conference and training facility on the Albemarle Sound, fully appointed and ready for small and large meetings, training sessions and workshops, dynamic seminars and quiet retreats. It is more than a conference center. It is the experience...

Fayetteville North California.(Special Advertising Section: Meeting & Convention Guide)(Advertisement)
November 1, 2003... Rich in history, the Fayetteville area boasts a range of artistic and cultural experiences, colorful festivals, professional sports, diverse eateries, unique shopping and challenging golf. Fayetteville is home to the world-class Airborne &...

Fearrington House.(Special Advertising Section: Meeting & Convention Guide)(Brief Article)(Advertisement)
November 1, 2003... The Fearrington House is a country inn and restaurant near Chapel Hill. Whether enjoying our unique shops and cafes, experiencing our five-star inn and restaurant, celebrating a special occasion or attending an elegant corporate gathering,...

Graylyn International Conference Center.(Special Advertising Section: Meeting & Convention Guide)(Brief Article)(Advertisement)
November 1, 2003... A spectacular manor on 55 acres in Winston-Salem, Graylyn is ideal for conferences, meetings, seminars and retreats. Facilities include 25 conference rooms and a full-service business center. Our conference coordinators will work with you to...

Greensboro North Carolina Convention & Visitors Bureau.(Special Advertising Section: Meeting & Convention Guide)(Brief Article)(Advertisement)
November 1, 2003... Let us connect you to a 23,000-seat, 120,000-square-foot coliseum complex, 16,000 hotel rooms, 500 restaurants and the support services you need to make your conference a success. Call for a Meeting Planners Guide today. [ILLUSTRATION...

Greenville more than you expect * NorthCarolina.(Greenville Convention Center)(Brief Article)(Advertisement)
November 1, 2003... The Greenville Convention Center is a technologically advanced 32-acre conference campus containing 74,000 square feet of meeting space and 333 hotel rooms. An additional 1,700 rooms and 75,000 square feet of meeting space are within 10 minutes...

The Grove Park Inn[R] Resort & SPA.(Special Advertising Section: Meeting & Convention Guide)(Brief Article)(Advertisement)
November 1, 2003... Surrounded by the Blue Ridge Mountains of western North Carolina, the Grove Park Inn Resort & Spa is minutes from Asheville. Groups from 10 to 1,000 are easily accommodated. The Grove Park Inn's award-winning convention-services team provides...

Hilton Charlotte & Towers.(Special Advertising Section: Meeting & Convention Guide)(Brief Article)(Advertisement)
November 1, 2003... The Hilton Charlotte & Towers is uptown Charlotte's premier AAA four-diamond hotel, with 407 deluxe rooms, including 24 luxurious suites. Our Towers-level accommodations have a private lounge with spectacular views. Our 27,500 square feet of...

Oceanfront at Wrightsville Beach, NC Holiday Inn SunSpree'Resort.(Special Advertising Section: Meeting & Convention Guide)(Brief Article)(Advertisement)
November 1, 2003... Come together and meet by our shore! The beauty and tranquility of Wrightsville Beach and the casual elegance of the Holiday Inn SunSpree Resort provide the atmosphere you are looking for. With luxurious interiors and verandas offering...

Myrtle Beach Marriott[R] Resort at Grande Dunes.(Special Advertising Section: Meeting & Convention Guide)(Brief Article)(Advertisement)
November 1, 2003... Opening in December 2003, the Myrtle Beach Marriott Resort at Grande Dunes will be the only world-class convention facility in Myrtle Beach with a luxurious beachfront setting. Located at Grande Dunes, the resort offers more than 45,000 square...

McKimmonCenter for extension and continuing education.(Special Advertising Section: Meeting & Convention Guide)(Brief Article)(Advertisement)
November 1, 2003... A multimedia teleconference facility with two-way videoconferencing capabilities, as well as events management, technical services and client support for any educational program or conference. [ILLUSTRATION OMITTED] N.C. State...

Peace College.(Special Advertising Section: Meeting & Convention Guide)(Brief Article)(Advertisement)
November 1, 2003... Peace College offers an 80-seat lecture hall, a 275-seat auditorium, elegant reception areas and private executive dining. The front campus green has a panoramic venue for outdoor dining. A competition-size swimming pool, full-size gymnasium...

Pinehurst 1895.(Special Advertising Section: Meeting & Convention Guide)(Brief Article)(Advertisement)
November 1, 2003... At Pinehurst, you'll find more than beautiful boardrooms. Add a golf tournament or a visit to The Spa to your meeting schedule. Our personal meeting coordinators are at your service to make your Pinehurst experience unique. This winter our...

Radisson[R].(Special Advertising Section: Meeting & Convention Guide)(Brief Article)(Advertisement)
November 1, 2003... With 12,500 square feet of meeting space, including 11 meeting rooms and a private board room, we can accommodate your meeting, seminar, training session, or conference. Our trained staff can provide full audio/visual equipment and catering...

The Sanderling.(Special Advertising Section: Meeting & Convention Guide)(Brief Article)(Advertisement)
November 1, 2003... A 12-acre oceanfront resort and meeting destination, The Sanderling offers facilities for groups from 10 to 100, including meeting rooms, a boardroom, an executive suite and outdoor special-event venues. Enjoy the Outer Banks, 88 luxurious...

Best Western University Inn.(Special Advertising Section: Meeting & Convention Guide)(Brief Article)(Advertisement)
November 1, 2003... The Best Western University Inn in Chapel Hill offers 84 comfortable rooms with modem hookups. Our superior staff, complimentary breakfast and reasonable rates will make your stay enjoyable in every way. [ILLUSTRATION OMITTED] Highway...

He says his clothes won't bug people.(Buzz Off Insect Shield LLC)(Brief Article)
November 1, 2003... For more than three decades, Richard Lane has been a high-profile innovator in textiles. But his latest venture is sure to generate the most buzz--or maybe the least. Lane is president of Buzz Off Insect Shield LLC, a Greensboro-based company...

Professor builds success on failure.(People)(Biography)
November 1, 2003... Henry Petroski knows how bridges are built and how pencils and bookshelves evolved. He delights in the analysis of designs--and in particular, why they fail. A professor of civil engineering at Duke University, his specialty is errors in...