Winston-Salem Journal articles from June 2001

Winston-Salem Journal archives from June 2001

Fed Rate's Impact on Winston-Salem, N.C.-Area Economy Hard to Quantify.
June 29, 2001... Byline: Jane Seccombe Jun. 29--The first of the Federal Reserve's string of interest-rate cuts this year seem to be helping certain sectors of the local economy, such as housing, but the impact is difficult to quantify and it may still...

North Carolina Health Care Company to Buy Rival for $202 Million.
June 29, 2001... Byline: Fran Daniel Jun. 29--Blue Cross and Blue Shield of North Carolina would pay Novant Health $202 million for the acquisition of Partners National Health Plans of North Carolina Inc., according to an acquisition statement BCBSNC...

Battle for Control of Wachovia Bank Heats Up.
June 29, 2001... Byline: Jane Seccombe Jun. 29--The battle for control of Wachovia Corp. is heating up. With their joint-proxy solicitation of shareholders now under way, Wachovia and its preferred suitor, First Union Corp., ran full-page newspaper...

SEC Approves Proposed Proxy Statement for First Union-Wachovia Merger.
June 28, 2001... Byline: Jane Seccombe Jun. 28--The proposed joint proxy statement by First Union Corp. and Wachovia Corp. was approved by the Securities and Exchange Commission yesterday, clearing the way for the statement's mailing to shareholders. ...

Carolina-Based Pilot Therapeutics Teams with Quintiles on Asthma Product.
June 26, 2001... Byline: Kristi E. Swartz Jun. 26--Pilot Therapeutics Inc. is teaming up with Quintiles Transnational Corp. to commercialize its dietary supplement used to treat asthma. The agreement allows Pilot to take advantage of Quintiles'...

SunTrust Forges Ahead in Fight for Wachovia by Mailing Proxies.
June 26, 2001... Byline: Jane Seccombe Jun. 26--SunTrust Banks Inc. has started to mail its proxy statement to Wachovia Corp. shareholders, urging them to vote against a $14.5 billion board-approved acquisition offer from First Union Corp. SunTrust,...

Winston-Salem, N.C.-Area Networking Firm Files for Bankruptcy Protection.
June 26, 2001... Byline: Kristi E. Swartz Jun. 26--Entegrait, a once rapidly growing networking, design and computer-training company, has filed for Chapter 7 bankruptcy protection. Wes Walker, Entegrait's chief executive, said he is quickly trying...

Rising SunTrust Shares Tempt Wachovia Stockholders to Pass on First Union Bid.
June 22, 2001... Byline: Jane Seccombe Jun. 22--The share price of SunTrust Banks Inc. has appreciated substantially this week, opening up a gap again between its unsolicited offer for Wachovia Corp. and Wachovia's preferred deal with First Union Corp....

Winston-Salem, N.C., Chamber of Commerce Hosts Tech Networking Social Event.
June 21, 2001... Byline: Kristi E. Swartz Jun. 21--Technology. Networking. Triad. Fun. Those words don't often pop up in the same sentence. But Techcentricity, with a little help from the Idealliance and the Winston-Salem Chamber of Commerce's...

FedEx Still Wants Next Cargo Hub in Winston-Salem, N.C.-Area Airport.
June 21, 2001... Byline: Kristi E. Swartz Jun. 21--FedEx Corp. will not consider putting its next cargo hub anyplace other than the Piedmont Triad International Airport, the company said, even though a federal agency last week said it further needs to...

Hearing Date Is Set for SunTrust Banks' Suit against Wachovia, First Union.
June 21, 2001... Byline: Jane Seccombe Jun. 21--GREENSBORO, N.C.--The North Carolina Business Court has set a hearing date of July 17 for the suit by SunTrust Banks Inc. against Wachovia Corp. and First Union Corp. SunTrust is challenging the...

Regulators Approve Proposed First Union, Wachovia Merger.
June 20, 2001... Byline: Jane Seccombe Jun. 20--Federal anti-trust regulators approved First Union Corp.'s proposed acquisition of Wachovia Corp. yesterday, one of several hurdles that the North Carolina banks need to clear before they can merge. ...

Advertising Firm to Cut 20 Percent of Work Force in Winston-Salem, N.C.
June 19, 2001... Byline: Fran Daniel Jun. 19--Mullen/LHCsaid it is cutting about 30 jobs, or 20 percent of its workforce of 160, in Winston-Salem. The advertising company, formerly Long Haymes Carr, said that the job losses are necessary because of a...

Blue Cross, Shield Makes Deal to Buy Winston-Salem, N.C., Health Plan.
June 19, 2001... Byline: Fran Daniel Jun. 19--Blue Cross and Blue Shield of North Carolina has signed an agreement with Novant Health to buy Partners National Health Plans of Winston-Salem. The purchase price was not disclosed. With 400,000...

Judge Allows SunTrust to Challenge Proposed Wachovia Deal with First Union.
June 19, 2001... Byline: Jane Seccombe Jun. 19--SunTrust Banks Inc., which is fighting to overturn anti-takeover provisions in the merger agreement between Wachovia Corp. and First Union Corp., can question Wachovia's directors and officers on how they...

Winston-Salem Journal, N.C., Business Briefs Column.
June 18, 2001... Byline: Jeanne Sturiale Jun. 18--MOUNTAIN NATIONAL BANK OPENS NEW BRANCHES: Mountain National Bank, an independent, publicly owned bank based in Galax, Va., has opened two North Carolina branch offices, at 1606 Curtis Bridge Road in...

North Carolina Technical University Viewed as Major Link to Engineering.
June 18, 2001... Byline: Kristi E. Swartz Jun. 18--GREENSBORO, N.C.--It is hard to imagine that an institution that is emerging as a national leader in science, technology, engineering and research is often overlooked locally. But in the Triad, N.C....

Blue Cross of North Carolina Will Buy Winston-Salem, N.C.-Based HMO.
June 18, 2001... Byline: Fran Daniel Jun. 18--Blue Cross and Blue Shield of North Carolina has signed an agreement with Novant Health to buy Partners National Health Plans of Winston-Salem. The purchase price was not disclosed. With 400,000...

SunTrust Officer Wins North Carolina Court Ruling.
June 15, 2001... Byline: Jane Seccombe Jun. 15--GREENSBORO, N.C.--SunTrust Banks Inc. may have lost its case in North Carolina's General Assembly, but the state's business court handed the Atlanta bank a victory on a separate issue yesterday. Judge...

North Carolina Enacts Law That Boosts Possible First Union, Wachovia Merger.
June 15, 2001... Byline: David Rice Jun. 15--RALEIGH, N.C.--After overwhelming approval from the state Senate, Gov. Mike Easley quickly signed a change in state law yesterday to protect Wachovia Corp. from an effort by SunTrust Banks Inc. to get Wachovia...

Developers of Kernersville, N.C., Project to Look at Retaining Golf Course.
June 15, 2001... Byline: Amy Frazier Jun. 15--KERNERSVILLE, N.C.--Developers proposing a large-scale community in southern Kernersville that could have as many as 6,000 residents say they will take a second look at whether keeping the Pine Tree Golf...

Downsizing Drives Textile Makers to Question U.S., WTO Policy.
June 14, 2001... Byline: Fran Daniel Jun. 14--Job eliminations, layoffs and plant closings are common in today's textile industry. Since 1990, North Carolina has lost 79,100 textile jobs, 36 percent of the industry in the state. Local companies...

Bill Involving `Baby Bells' Upsets National Phone Firms.
June 13, 2001... Byline: Kristi E. Swartz Jun. 13--Besides protesting the entry of regional Bell companies into the long-distance telephone service market, national phone companies now are upset over a bill in Congress that would allow the "baby Bells"...

SunTrust Banks Loses Price Advantage in Wachovia Merger Battle.
June 12, 2001... Byline: Jane Seccombe Jun. 12--SunTrust Banks Inc. has virtually lost its price advantage over First Union Corp. in the tug-of-war over Wachovia Corp. 's future. SunTrust's unsolicited bid to acquire Wachovia was worth $14.7...

North Carolina Community College Conducts Cisco eLearning Program.
June 12, 2001... Byline: Kristi E. Swartz Jun. 12--Forsyth Technical Community College is conducting a pilot program for Cisco Systems Inc.'s eLearning Technology, a program designed to let students learn in the online environment that is best for them....

Recession Unlikely, Says North Carolina Economic Expert.
June 11, 2001... Byline: Jane Seccombe Jun. 11--A recession looks increasingly unlikely this year, thanks to five interest-rate cuts by the Federal Reserve and healthy consumer spending, according to Gary Shoesmith, the director of Wake Forest...

Wachovia-First Union Merger Could Result in 325 Branch Closures.
June 8, 2001... Byline: Jane Seccombe Jun. 8--Wachovia Corp. and First Union Corp. have raised their estimate of proposed branch closures in their pending integration to about 325 from an initial 250-300 closures announced in April. The estimate was...

North Carolina-Based Sara Lee's Apparel Unit Looking for New Advertising Firm.
June 7, 2001... Byline: Jeanne Sturiale Jun. 7--Mullen/LHC, formerly Long Haymes Carr, this week withdrew from consideration to continue as the advertising agency for Sara Lee Corp.'s Hanes assignments after serving in that capacity for about 20 years....

Winston-Salem, N.C.-Area Drug Firm Hires Two for Management Team.
June 7, 2001... Byline: Kristi E. Swartz Jun. 7--Targacept Inc. has made two hires to complete its executive-management team, bringing in more pharmaceutical experience to become a product-focused company. Targacept is a pharmaceutical company that...

High Point, N.C.-Based Fabrics Maker Posts Fourth Quarter Loss.
June 7, 2001... Byline: Fran Daniel Jun. 7--Culp Inc. of High Point, one of the world's largest makers of upholstery fabrics for furniture, reported a loss for the fourth quarter and 2001 fiscal year ended April 29. The company blamed its financial...

Raleigh, N.C.-Based Bank to Open New Forsyth County Headquarters.
June 5, 2001... Byline: Jane Seccombe Jun. 5--First Citizens Bank plans to build a new county headquarters at the intersection of Stratford and Bethesda roads-about one and a half miles from its current main office in leased premises on West First...

Home Ownership Center To Open in Winston-Salem, N.C.
June 5, 2001... Byline: Fran Daniel Jun. 5--Charles T. Wright and his fiance, Dorothy Rucker, were displaced in March when a fire destroyed four apartments at Cambridge Apartments on Cherry Street. "We lost everything, except our lives, and I thank...

Software Integration Firm to Relocate to Winston-Salem, N.C., Downtown.
June 2, 2001... Byline: Kristi E. Swartz Jun. 2--The Piedmont Triad Research Park has lured Sunrise Technologies Inc. into its newest building, pulling the software integration company from the congested Stratford Road area to the growing downtown. ...

Real Estate Firm Plans Development Project in Raleigh, N.C., Area.
June 1, 2001... Byline: Adrian Zawada Jun. 1--After months of speculation, Highwoods Properties Inc. said yesterday it will construct a 116,000-square-foot office building at 160 Stratford Road, where the dilapidated Stratford Inn once stood. The...

Reports Say Jobless Rate in Winston-Salem, N.C.-Area Rose at Fast Rate.
June 1, 2001... Byline: Jane Seccombe Jun. 1--The Triad's jobless rate took a nasty turn for the worse over the past year, according to two new reports. A survey by the Bureau of Labor Statistics shows that unemployment rose faster in the...