Highwoods Properties reported second-quarter financial results that topped expectations of Wall Street analysts.
Duke Energy's residential customers will pay nearly 5 percent more for electricity, beginning next month, to account for high fuel costs, the Charlotte Observer reports.
The N.C. Utilities Commission, which approved the increase today, allows electric utilities to adjust customer charges once a year to reflect fuel costs.
Duke spokeswoman Paige Sheehan said high coal prices and volatility, driven by worldwide demand, have driven up those adjustments for the past two years. A record-hot June 2008, leading to more fuel use, also drove up this year's adjustment.
The commission today approved a 4.8 percent increase in residential bills, pushing the average charge up $4.14 to $90.42 a month.
Charlotte-based Duke has more than 160,000 customers in the western Triangle. Read the full Charlotte Observer story here.
There are just a few days left to request the government-issued $40 coupons toward the purchase of a digital converter box. (The coupons look like the one pictured here...)
The boxes are required for TVs that still use an analog signal, ie. bunny ears, to interpret the new digital TV signals now being used by TV stations nationwide.
Each household can request two $40 coupons, and you can do so until Friday at dtv2009.gov.
If you are looking to redeem a coupon this week, try CVS. The convrter boxes are $40, which makes them free after you use your coupon. You will need a CVS card to get the discounted price, but the program is free to join. You can do so in the store when you make your purchase.
A Texas-based franchisee that operates 42 Golden Corral restaurants in six states has filed for Chapter 11 bankruptcy protection.
According to the Dallas Morning News, four companies owned by Guillermo Perales filed for bankruptcy in Fort Worth last week. The company sought bankruptcy protection because of a 2008 lawsuit settlement of nearly $1 million that was awarded to a former employee at a Burger King restaurant also owned by Perales.
According to the Dallas Morning News story, "the woman would have been entitled to garnish restaurant funds to pay the judgment. So the company sought bankruptcy protection."
Bob McDevitt, Golden Corral's senior vice president of marketing and franchise operations, said Perales' 42 stores were in Texas, Indiana, Alabama, Georgia, Tennessee and Florida. All stores remain open at this time, he said, though he was not able to offer details about what may happen to those stores in the future.
Raleigh-based Golden Corral operates almost 500 restaurants in 41 states with $1.5 billion in systemwide sales.
Caterpillar, the global maker of earth-moving equipment that has shed 17,000 workers in recent months, is plowing ahead with plans for a production testing center in Clayton.
The company known for its bulldozers and loaders this week won a zoning permit for the 49,000-square foot facility to be built on 252 acres on N.C. Highway 42, near Caterpillar's existing manufacturing plant.
"They are looking to expand," said Clayton Mayor Jody McLeod.
Another rival of Cary-based SAS is getting swallowed by a tech industry giant.
But IBM's $1.2 billion acquisition of SPSS announced Tuesday won't create "much competitive threat," said Jim Davis, SAS' chief marketing officer. SAS competes with SPSS in selling software that helps businesses predict trends, but IBM also uses SAS software, he added.
"It illustrates the importance that analytics play in today's market," Davis said. "It's good to be in a sector that adds value when the economy is down."
Come this fall, Krispy Kreme will sell its sugary sweets to downtown workers and tourists from a new store on Fayetteville Street.
The company has confirmed plans to open a Neighborhood Shop in one of the four 900-square-foot "pavilion" buildings flanking the new City Plaza.
The store will be the second Neighborhood Shop opened by the doughnut company in the Triangle this year, following the opening of one in Knightdale's Shoppes at Midway Plantation that is coming up on Monday.
However, don't look for the Hot Now sign downtown. Neighborhood Shops offer a full range of Krispy Kreme products but do not make doughnuts on-site. Instead the other Raleigh store on Person Street will provide doughnuts for all three locations.
Kripsy Kreme says the new downtown Raleigh store will open at the end of October.
Chapel Hill drug maker Pozen swung to a loss in the second quarter, as royalties from its migraine drug didn't do much to boost profit.
During the quarter, Pozen earned $900,000 in royalties on the drug, Treximet, which is sold by partner GlaxoSmithKline. Analysts are worried that insurers' reluctance to cover Treximet's high price is hurting sales.
There's been much debate about the future of print journalism.
And the appetite for that conversation, it seems, is never sated.
The next edition of public television's Carolina Business Review — which tackles issues of interest to people doing business in the Carolinas — will focus on print media.
Frank Daniels, Jr., former owner and publisher of The News & Observer, and Larry Tarleton, retired publisher of The Post and Courier in Charleston, S.C., will join host Chris William. They will talk about the future of the local daily paper, discuss how the newspaper industry found itself in financial trouble and share thoughts on the future of online journalism.
Catch the show Sunday at 12:30 p.m. on UNC-TV.
It's safe to assume the sun will be shining at the Raleigh Convention Center this week.
That's the site of this year's national convention of the American Chamber of Commerce Executives, a group of officials known for keeping a rosy outlook during even the darkest economic times.
The convention is expected to attract more than 900 chamber cheerleaders from across the country.
"These visitors have rich networks of contacts and they will spread the word about all the good things that are happening in our region," said Greater Raleigh Chamber of Commerce CEO Harvey Schmitt, in a prepared statement.
Keynote speakers at the convention, which runs Wednesday to Saturday, will include best-selling author Stephen R. Covey, new media strategist Rahaf Harfoush and FOX Business News anchor Stuart Varney.
For more information, visit the group's Web site.