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Attorneys general group objects to bankruptcy plan for Renegade in Mocksville
A group of state attorneys general have detailed their objections to the proposed bankruptcy exit plan of three bankrupt Mocksville tobacco manufacturers.
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Former Pace employees won't see all wages that they were due
The bankruptcy trustee in the Pace Airlines Inc. case issued a filing this week with a dose of harsh reality for the defunct company's 423 employees.
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Research parks need to attract venture capital, experts say
Fleshing out the Triad's two life-sciences research parks means more than adding buildings, tenants and employees, panelists said Tuesday during a Winston-Salem Chamber Tech Council meeting.
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Krispy Kreme Q1 earnings meet expectations
Krispy Kreme Doughnuts Inc. reported today net income of $6 million in the first quarter of its fiscal year 2013, which ended April 29. The company reported $9.2 million in net income in the first quarter of fiscal 2012. Krispy's net income was lower for the first quarter of 2013 primarily because of the required reversal of valuation allowances on deferred tax assets in the fourth quarter of fiscal 2012. That reversal was valued at $4.3 million by the company. Analysts typically do not include one-time charges in their earnings projections. Diluted earnings were 8 cents a share, meeting the average earnings estimate of 8 cents by analysts surveyed by Zacks Investment Research.
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Pine Knolls Golf Club in Kernersville will be auctioned on June 13
Racebrook Marketing Concepts said Thursday it will hold an auction on June 13 to sell the Pine Knolls Golf Club in Kernersville.
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Hostess warns of job cuts if bankruptcy exit fails
The jobs of up to 106 Hostess Brands Inc. employees in the Triad and Northwest North Carolina could be at stake if the company does not emerge from bankruptcy.
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Capital Bank posts first-quarter profit
Capital Bank Corp., whose parent company is trying to buy Southern Community Financial Corp., had $2.7 million in profit in the first quarter.
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VF posts record profit for first quarter
Another strong sales showing by the recently acquired Timberland brand bolstered VF Corp. to a record first-quarter profit of $215.2 million, the company reported Friday.
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Triad jobless rate fell to 9.6 percent in March
A nearly 1 percent drop in the Triad jobless rate this year has economists encouraged, but still cautious, that a long-awaited recovery finally has some tangible momentum.
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Old Dominion Freight Line reports Q1 profit surge
Old Dominion Freight Line Inc. keeps on trucking down the profit lane, reporting Thursday a 44.1 percent surge in first-quarter profit to a record $31.1 million.
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Yadkin Valley Financial Corp. posts third consecutive quarter of profitability
Continued loan-portfolio improvements enabled Yadkin Valley Financial Corp. to report Thursday its third consecutive profitable quarter.
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UPDATE Word expected today on Inmar expansion
Winston-Salem is expected to learn today that Inmar Inc. has decided to expand its local presence by 212 jobs, in addition to keeping 761 local jobs.
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Reynolds American Q1 earnings down 29.1 percent
Reynolds American Inc.'s latest round of job cuts took a significant -- and expected -- toll on its first-quarter earnings, which were down 29.1 percent to $270 million.
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Aerospace firm B/E posts record 1Q profit
B/E Aerospace Inc.'s bid for topping its best annual financial performance got off to a strong start with record first-quarter profit of $68.8 million, the company reported Monday.
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First Community reports $5.72 million in first-quarter income
Continued improvements in its loan-portfolio performance enabled First Community Bancshares Inc. to post net income of $5.72 million in the first quarter, the bank reported today.
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N.C. jobless rate drops to lowest level in 17 months
The state's jobless rate reached its lowest level in 17 months during March, declining 0.2 percentage points to 9.7 percent, the N.C. Commerce Department reported Friday.
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Ashley Furniture plans announcement Friday; officials expect news on Davie County plant
Ashley Furniture Industries Inc. appears set to choose Davie County for a multifaceted East Coast operation with up to 550 jobs.
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Insteel's profit down from a year ago
Insteel Industries Inc. reported Thursday a profit of $262,000 in its second quarter of 2012, which ended March 31.
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UPDATE BB&T posts gain in Q1 net income
BB&T Corp.'s show of financial muscle carried over, as expected, into fiscal year 2012 as the bank reported today a 91 percent increase in net income to $431 million for the first quarter.
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Hearing for co-owner of Pace Airlines postponed until June
A Forsyth Superior Court judge agreed today to postpone until June 11 the next hearing for William Rodgers Sr., the co-owner of defunct Pace Airlines Inc.
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B/E Aerospace adding space for local operations
B/E Aerospace Inc. is expanding its Winston-Salem operations — its largest in the United States — by more than 90,000 square feet.
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Targacept loses big shareholder, finds error in previous study
Targacept Inc. took another plunge on its roller-coaster ride Tuesday, with its share price falling 12.2 percent to a 52-week low after it disclosed an error in a recent promising asthma study.
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NewBridge CEO got 25 percent raise in 2011
Pressley Ridgill, the top executive of NewBridge Bancorp, received a 25 percent increase in salary to $442,436 in fiscal year 2011, according to a regulatory filing.
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UPDATE Pace trustee begins process for paying former employees
The bankruptcy trustee for Pace Airlines Inc. has started the process of providing wage and benefit compensation to its former 423 employees.
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Southern Community execs take pay cut
The top executives at Southern Community Financial Corp. took a sizable pay cut for a third consecutive year, the bank reported in a regulatory filing Wednesday.
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