Allied Systems workers
expected to strike today
Union workers at Allied Systems Ltd. in Walkertown are expected to go on strike this morning.
"They are planning to walk out at 6 a.m.," Ricky Stone, the manager of Allied Systems, said Wednesday, declining to say how many local employees work at Allied Systems, a division of Allied Systems Holdings that delivers new cars to dealerships.
The office of Local Teamsters 391 in Colfax referred inquiries to the International Brotherhood of Teamsters office in Washington, which could not be reached for comment.
The Teamsters National Automobile Transporters Industry Negotiating Committee served a 72-hour strike notice on Allied Systems and Transport Support Inc. March 10 after Allied said it had retroactively cut teamster members' pay by 20 percent. The 72-hour strike notice expired Wednesday, which allowed a lawful strike to start if the dispute was not resolved by then, according to the International Brotherhood of Teamsters' website.
Fran Daniel
Four Triad banks have deferred U.S. payments
A report released Wednesday by SNL Financial found that 142 banks nationwide, including four serving the Triad, have deferred payments on its preferred cash dividend to the U.S. Treasury.
The local banks are Bank of the Carolinas Corp. of Mocksville, Carolina Bank Holdings Inc. of Greensboro, FNB United Corp. of Asheboro and Southern Community Financial Corp. of Winston-Salem.
As of Feb. 18, Bank of the Carolinas had borrowed $13.2 million and repaid $1.04 million. Carolina Bank Holdings had borrowed $16 million and repaid $1.5 million. FNB had borrowed $51.5 million and repaid $2.6 million. Southern Community had borrowed $42.7 million and repaid $4.2 million.
FNB United has deferred its past four scheduled payments, while the other banks had deferred only the February payment.
Three other North Carolina banks have deferred at least one payment — 1st Financial Services Corp., Bank of Currituck and Crescent Financial Corp. In December, Bank of Currituck completed the repayment of its $4 million of outstanding Troubled Asset Relief Program preferred shares for about $1.7 million.
The 142 institutions that deferred the latest dividend payment received a total of $3.7 billion in funds, which comprises 1.8 percent of the $204.9 billion received by the 707 institutions under the capital purchase program.
Richard Craver
China Connection conference set April 1
The China Connection, a conference offering networking and educational connections for area companies, will be held April 1 from 9 a.m. to 3:30 p.m. at the Benton Convention Center.
The seminar will feature speakers in person and via satellite from Shanghai to discuss business opportunities between Winston-Salem and China. The event is free, but reservations are required at 602-6213 or by e-mailing to info@twincityalliance.com.
Other presenters will include William Chu, the N.C. Commerce officer for Hong Kong, and Marlinda Ma, the N.C. Commerce officer for Shanghai, who will provide information on those two specific markets. Fang Liu, a corporate attorney for the Pillsbury Group in Washington and an expert in Chinese legal affairs, will discuss licensing, regulations, venture capital and import/export requirements.
Billy Prim, the president and chief executive of Primo Water Corp., will be the keynote speaker.
The conference is being presented by the Winston-Salem International Business Council.
Richard Craver
Celgard adding phase to plant in Concord
Celgard LLC, a manufacturer of high-tech automotive batteries, said Tuesday that it is adding another phase to a plant it is constructing in Concord.
The company said it will make a $65 million addition to the plant to increase its production capacity for lithium-ion battery separators for electric cars. It marks the company's fourth expansion linked to the electric-drive vehicle market since 2009.
The expansion will create jobs, company spokeswoman Holli Hughes said, but she declined to say how many.
Celgard makes separators — or barriers between the positive and negative electrodes — for the batteries, which are used in notebook computers, cellphones and electric vehicles among other applications.
Celgard began construction in September on its new facility and said it would create more than 200 jobs.
Celgard employs about 440 people in the Charlotte area.
McClatchy-Tribune
Credit union to have Sunday hours
Coastal Federal Credit Union, based in Raleigh, is breaking through the Sunday business hours barrier.
Beginning this weekend, Coastal is expanding its teller services to seven days a week.
"I think it makes us more attractive to someone who is shopping around for a new financial institution," said Joe Mecca, a Coastal spokesman,
Tony Plath, a finance professor at UNC Charlotte, said he knows of no other bank or credit union in the state that offers teller services every day of the week.
McClatchy-Tribune
Tower Space, eSupport form partnership
Tower Space LLC, based in Winston-Salem, and eSupport Business Solutions, based in Greensboro, said Wednesday that they have formed a partnership that combines their services to the small-business market in the Triad.
Tower specializes in offering real estate services for small business owners that include turnkey options.
ESupport Business Solutions specializes in administrative support options. Its services can be provided in each Tower Space suite.
The companies have two offices in Winston-Salem at Winston Tower, 301 N. Main St., and 3069 Trenwest Drive, and one in Greensboro at 3200 Northline Ave.
Richard Craver
HVAC firm launches assessment division
Logan Heating and Air Conditioning, based in Winston-Salem, has started a home-energy audit and assessment division.
Scott Boyles, the owner and president of Logan, said the new division offers services that can detect all sources of energy loss in a home.
Fran Daniel
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