Winston-Salem Journal articles from April 2005

Winston-Salem Journal archives from April 2005

Krispy Kreme's Canada chain struggles to survive.
April 30, 2005... Byline: Brian Louis Apr. 30--KremeKo Inc. was supposed to be Krispy Kreme Doughnuts Inc.'s vehicle for spreading the Krispy Kreme brand across much of Canada. Instead, the troubled franchisee -- in which a Krispy Kreme subsidiary...

Biotech firm considers building $9 million research lab in Winston-Salem, N.C.
April 29, 2005... Byline: M. Paul Jackson Apr. 29--When Anthony Atala, a Wake Forest University Health Sciences professor, brought his tissue engineering discoveries to Winston-Salem two years ago, his research was expected to help create more than 100...

Triad Guaranty reports another record net income.
April 29, 2005... Byline: Richard Craver Apr. 29--Triad Guaranty Inc. reported its fifth consecutive quarter of record net income yesterday, buoyed by an increase in retained loan business and market share. The company, which owns Triad Guaranty...

Triad officials will tour Indianapolis, Ind., to examine local economy.
April 29, 2005... Byline: Richard Craver Apr. 29--A group of 50 Triad officials will tour Indianapolis next week to observe how a similarly sized region is handling structural change to its economy. Along the way, the trip's organizers hope the three...

Southern Community Financial deals with settlements affecting 1Q net income.
April 28, 2005... Byline: Richard Craver Apr. 28--A series of one-time charges for settlements with former employees and other expenses resulted in Southern Community Financial Corp. posting lower net income in the first quarter. The bank reported...

Reynolds American reports large increase in first-quarter profit.
April 28, 2005... Byline: Brian Louis Apr. 28--Reynolds American Inc. reported a big increase in first-quarter profit yesterday because of increased cigarette prices and the merger of R.J. Reynolds Tobacco Co. and Brown & Williamson Tobacco Corp. ...

BB&T says it will employ an aggressive growth strategy.
April 27, 2005... Byline: Richard Craver Apr. 27--BB&T Corp. said yesterday that it is pursuing a selective, but aggressive, growth strategy in its attempt to fend off major banks within its territory. John Allison, the chairman and chief executive of...

Sara Lee reports 50 percent decline in profit for fiscal third-quarter.
April 27, 2005... Byline: Brian Louis Apr. 27--Sara Lee Corp. reported yesterday that fiscal third-quarter profit declined 50 percent because of charges, higher commodity costs and weak sales in Europe. The company's branded-apparel division, based in...

Founder of North Carolina mortgage-insurance firm to retire.
April 27, 2005... Byline: Richard Craver Apr. 27--Darryl Thompson has guided Triad Guaranty Inc. from a business startup in 1987 to a leader in the mortgage-insurance industry. Yesterday, Thompson gave notice that he would retire as the Winston-Salem...

SunTrust establishes presence in North Carolina.
April 26, 2005... Byline: Richard Craver Apr. 26--SunTrust Banks Inc. made its branch-banking debut in the Triad yesterday expressing confidence that an out-of-state bank can thrive in an intensely competitive North Carolina market. The bank, based in...

Winston-Salem, N.C., chamber of commerce will publish business magazine.
April 26, 2005... Byline: Richard Craver Apr. 26--A recent wave of economic momentum has convinced the Greater Winston-Salem Chamber of Commerce the time is right for a business-to-business magazine focused on area industries and success stories. The...

New bankruptcy law may prompt consumers to file before October.
April 25, 2005... Byline: Richard Craver Apr. 25--The new federal bankruptcy law could convince some Triad residents to get off the fence, and over their embarrassment, about filing because stiffer requirements go into effect in October, legal officials...

Dell to begin hands-on assessment of job candidates.
April 23, 2005... Byline: Richard Craver Apr. 23--Dell Inc. begins the hands-on assessment next Saturday of an estimated 1,800 job candidates who have cleared the first two online-application steps, the company said yesterday. The candidates were...

Triad's unemployment rate drops in March.
April 23, 2005... Byline: Richard Craver Apr. 23--The unemployment rate for the Triad combined statistical area dropped sharply to 5.1 percent last month from 5.7 percent in February, the N.C. Employment Security Commission said yesterday. There were...

Medical school to test Targacept's drug for memory loss.
April 23, 2005... Byline: M. Paul Jackson Apr. 23--The Wake Forest University School of Medicine said yesterday that it is participating in a national study to analyze the effectiveness of a drug developed by a Winston-Salem company to treat cognitive...

Local retailers move around.
April 23, 2005... Byline: Fran Daniel Apr. 23--Several retailers in the Stratford Road area near Hanes Mall are in the moving groove. Hanes Furniture recently set up home in the former Lowe & Lowe Furniture Galleries building at 1602 S. Stratford...

Southern Community Financial Corp. hires CFO.
April 22, 2005... Byline: Richard Craver Apr. 22--Southern Community Financial Corp. said yesterday that it has hired a Charlotte accountant as its chief financial officer to guide the bank through a more stringent regulatory environment. David...

Medical group to maintain relationships with Blue Cross patients.
April 22, 2005... Byline: M. Paul Jackson Apr. 22--The contract dispute between N.C. Baptist Hospital and Blue Cross and Blue Shield of North Carolina has some Forsyth County patients worried. Now, one physician practice is trying to allay those fears....

Krispy Kreme closing doughnut factories.
April 22, 2005... Byline: Brian Louis Apr. 22--Krispy Kreme Doughnuts Inc. said yesterday that it is cutting the number of its doughnut factories to improve efficiency in the face of declining sales. Amy Hughes, a Krispy Kreme spokeswoman, said that...

Shortfall forces Forsyth County, N.C., tourism agency to freeze hiring.
April 21, 2005... Byline: Richard Craver Apr. 21--A revenue shortfall of almost $100,000 has led the Forsyth County Tourism Development Authority to freeze all nonessential spending and job vacancies with 2 1/2 months left in its fiscal year. The...

Winston-Salem, N.C.-based bank denies bonuses to executives.
April 21, 2005... Byline: Richard Craver Apr. 21--The top executives at Southern Community Financial Corp. did not receive a bonus for a second consecutive year in 2004 after failing to meet profit goals, the bank reported yesterday. The bank said in...

Guilford Mills will close one of its Greensboro, N.C., plants.
April 20, 2005... Byline: Richard Craver Apr. 20--Guilford Mills Inc. said yesterday that it is closing one of its two Greensboro plants and cutting 101 jobs because of a decline in orders from domestic fiber-yarn customers. The textile manufacturer...

Krispy Kreme reveals details in SEC filing.
April 19, 2005... Byline: Brian Louis Apr. 19--Krispy Kreme Doughnuts Inc. said yesterday it expects to report a loss for the quarter ended Jan. 30 because of declining revenue and the "substantial costs" of dealing with its legal and regulatory problems....

Jittery mood pervades furniture market.
April 19, 2005... Byline: Richard Craver Apr. 19--The mood at this week's International Home Furnishings Market should have been as sunny as the spring weather. After all, the industry is coming off a record year of nearly $75 billion in residential...

Pike Holdings to go public.
April 19, 2005... Byline: Brian Louis Apr. 19--Pike Holdings Inc., which builds power lines for utilities, filed plans for an initial public offering yesterday to sell $230 million in stock. If the offering takes place, Pike would become the second...

Biotech firms could replace traditional pharmaceuticals on Wall Street.
April 16, 2005... Byline: M. Paul Jackson Apr. 16--The traditional pharmaceutical industry is fading from prominence on Wall Street. And the biotechnology industry has to be poised to take its place. That's the opinion of Cynthia Robbins-Roth, a...

Unemployment improved slightly in North Carolina last month.
April 16, 2005... Byline: Richard Craver Apr. 16--Prospects for employment in North Carolina improved slightly in March, but employment officials said yesterday that companies remain cautious about hiring. The N.C. Employment Security Commission...

Wachovia posts record income in first quarter.
April 16, 2005... Byline: Richard Craver Apr. 16--A record quarter for net income has whetted Wachovia Corp.'s appetite for growth and expense reduction, but the bank said yesterday that it is not pursuing any "mega" deals. The bank posted net income...

North Carolina has improved business climate, consultant says.
April 15, 2005... Byline: Richard Craver Apr. 15--North Carolina has improved its reputation among site selectors because of an enhanced pro-business stance, a business consultant said at a statewide manufacturing summit Wednesday. But concerns over...

North Carolina's health care providers struggle to comply with privacy laws.
April 15, 2005... Byline: M. Paul Jackson Apr. 15--In 1996, the federal government established laws to increase privacy and security measures for patients. Nearly 10 years later, the impact of those laws is still being felt. The deadline for...

Not much time left to file taxes.
April 15, 2005... Byline: Fran Daniel Apr. 15--Last-minute taxpayers still have time to make today's midnight deadline. There's always the automatic four-month extension by phone, computer or through the paper Form 4868, but the extension must be made...

Tourists flock to High Point, N.C., for furnishings market.
April 13, 2005... Byline: Richard Craver Apr. 13--The International Home Furnishings Market in High Point might be an out-of-sight, out-of-mind event for many residents in Forsyth County. But Forsyth plays a critical role in handling the spillover of...

Job fair attendees brave long line.
April 13, 2005... Byline: Richard Craver Apr. 13--A line of people stretched nearly 500 deep in front of the Joel Coliseum Annex yesterday morning. They weren't there to spend money on basketball, hockey or concert tickets. Instead, they were...

BB&T reports profits, but fails to meet analyst expectations.
April 13, 2005... Byline: Brian Louis Apr. 13--BB&T Corp. reported strong profit growth for the first quarter yesterday, but its results failed to meet Wall Street expectations. BB&T said that for the three months ended March 31, its net income was...

Summit in Greensboro, N.C., focuses on struggling manufacturing sector.
April 13, 2005... Byline: Richard Craver Apr. 13--GREENSBORO--North Carolina's battered manufacturing sector has a fighting chance of beating global competition, but only if it ratchets up its commitment to education, technology and innovation, speakers...

U.S. Airways gives final work dates for employees who take 'early out' packages.
April 12, 2005... Byline: Richard Craver Apr. 12--US Airways Group Inc. said yesterday that it has given final work dates to local reservation employees who opted for an "early out" package last month. The package consists of a pay out of up to...

Shopping center merchants in Winston-Salem, N.C., form advocacy group.
April 12, 2005... Byline: Fran Daniel Apr. 12--Tenants at Reynolda Manor Shopping Center have started a merchant's association to increase visibility and customers. "We have right now 35 businesses here," said Gene Kirk, the president of the Reynolda...

Closure of Duracell plant in Lexington, N.C., to cost 280 jobs.
April 8, 2005... Byline: Richard Craver Apr. 8--Davidson County's manufacturing base received another major blow yesterday when Duracell Inc. said it was closing its Lexington plant by early 2006 and cutting 280 jobs. The future of the plant had been...

Hospital, Harvard get grant to study dietary supplements.
April 8, 2005... Byline: M. Paul Jackson Apr. 8--Wake Forest University Baptist Medical Center said yesterday that it has received a grant to finance the study of dietary supplements which it hopes will help better inform millions of people who now use...

US Airways signs outsourcing contracts with Florida-based companies.
April 7, 2005... Byline: Richard Craver Apr. 7--US Airways Group Inc. said yesterday that it will contract out part of its domestic-reservation service to other countries, but reiterated that its Winston-Salem center would remain its primary reservation...

Dell warns potential North Carolina suppliers to be flexible, competitive.
April 6, 2005... Byline: Richard Craver Apr. 6--Dell Inc. told Triad companies yesterday that they must be flexible and internationally competitive if they want to provide services or supplies to its Forsyth County plant. Dell executives also...

Web site to allow people to compare hospitals' medical treatments.
April 6, 2005... Byline: M. Paul Jackson Apr. 6--Consumers struggle to find detailed information about different medical services provided by their local hospitals. But that's changing. The federal government has designed a Web site allowing users to...

Changes to student loans to affect Winston-Salem, N.C., financial-services firm.
April 6, 2005... Byline: Richard Craver Apr. 6--A potential change in how the federal government provides loans to needy college students could significantly affect a financial-services company in Winston-Salem. Campus Partners, with 90 employees at...

Krispy Kreme finds lender to keep the company afloat.
April 5, 2005... Byline: Brian Louis Apr. 5--Krispy Kreme Doughnuts Inc. said yesterday that it closed on a $225 million lending deal that gives the struggling company some financial breathing room. The new lending group is led by investment bank...

Dell suppliers could move into nearby industrial parks.
April 5, 2005... Byline: Richard Craver Apr. 5--Forsyth County's industrial parks may be the biggest beneficiary of Dell Inc.'s fixation on just-in-time manufacturing, according to Triad economic developers. But sites in High Point, around Piedmont...

Unilin is still struggling to hire employees in Davidson County, N.C.
April 2, 2005... Byline: Richard Craver Apr. 2--It's been more than a year since Unilin Flooring NC LLC gave Davidson County its biggest economic shot-in-the-arm in recent memory. The Belgian manufacturer's commitment to an $80-million plant in...

Winston-Salem, N.C.-area jobless rate rose sharply in February.
April 2, 2005... Byline: Richard Craver Apr. 2--Perceptions of better economic times, as well as the reality of major layoffs, combined to push the Triad's jobless rate sharply higher in February, the N.C. Employment Security Commission reported...

Fresh look helps Winston-Salem, N.C.-area mall attract many new tenants.
April 2, 2005... Byline: Fran Daniel Apr. 2--Marketplace Mall on Peters Creek Parkway has a fresh look and a lot more tenants. Samco Properties Inc. in Deerfield Beach, Fla., bought the struggling 21-year-old mall in December 2002 and has spent about...

Winston-Salem, N.C., battery maker cut 200 jobs, less than expected.
April 1, 2005... Byline: Richard Craver Apr. 1--Douglas Battery Manufacturing Co. said yesterday that it has cut fewer jobs than expected in its transition to a leaner company focused on industrial-battery production. The Winston-Salem company said...

New Camel cigarettes to be made in Forsyth County, N.C.
April 1, 2005... Byline: Brian Louis Apr. 1--A new Camel is coming to stores soon: Camel Turkish Silver. Dubbed "the mellowest Camel ever," smokers will begin seeing the new R.J. Reynolds Tobacco Co. cigarette in retail stores in the middle of this...

New gum is for smokers who plan to keep smoking.
April 1, 2005... Byline: Brian Louis Apr. 1--A New Jersey company is using an interesting twist in its bid to get smokers to use XPL, its new chewing-gum. XPL Innovations Inc. claims that the peppermint-flavored gum will freshen a smoker's breath --...

Proposed Dell plant casts large shadow over Forsyth County, N.C., business park.
April 1, 2005... Byline: Richard Craver Apr. 1--Dell Inc.'s presence in Forsyth County is still mostly 119 acres of graded dirt, but its proposed computer-assembly plant is casting a larger shadow over nearby Union Cross Business Park. Bob Leak Jr.,...