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Triad Business Journal
Bank of America closing Triad branch, replacing it with new prototype
In an age where retail banking is often done on a screen or in an app, one of the country’s largest financial institutions is keeping brick-and-mortar banking alive with a new type of branch, or “financial center” in company parlance.<\p> Bank of America is replacing its 426 Stratford Road financial center, set to be closed Sept. 24, with a new one nearby at 400 Knollwood Street. In between, it’s setting up a temporary mobile financial center in the parking lot at 514 S. Stratford Road.<\p>
Printing of Triad dailies moving to Va. as W-S Journal plant to close
After 30 years of operations, the Winston-Salem Journal Production Plant will close on June 16, resulting in an undetermined number of layoffs. <\p> Lee Enterprises, which owns the Winston-Salem Journal, the Greensboro News & Record and several other N.C. daily newspapers, is moving printing operations from the site on Fifth Street in Winston-Salem to its facilities in Lynchburg, Virginia and Bristol, Tennessee.<\p>
Greensboro company seeking incentives to consolidate local operations
A Greensboro-based company looking to consolidate area operations is behind Project Aggie, which is coming before Greensboro City Council Tuesday for consideration of economic-development incentives.<\p> The company’s proposal was given the code name of Project Aggie. Greensboro and Guilford County announced public hearings on incentive packages for the company in early May but those were withdrawn, a decision made to allow the company to first pursue state aid. <\p>
How TBJ determined the Triad's highest-rated upscale restaurants
What does it take to determine the Triad's highest-rated upscale restaurants? As it turns out, a lot.<\p> This week, Triad Business Journal ranks the region's highest-rated upscale restaurants as ranked by Yelp ratings, then by number of Yelp reviews. <\p>
Greensboro restaurants top list of Triad's best upscale restaurants
Machete and Liberty Oak rank 1-2 on Triad Business Journal's List of the region's highest-rated restaurants, leading a sweep of the top seven spots by Greensboro restaurants.<\p> Machete, a James Beard semifinalist in the Best New Restaurant category in 2022, and Liberty Oaks, a staple of downtown Greensboro for more than 40 years, both had Yelp ratings of 4.6 but Machete earned the top spot by virtue of having more reviews (246-191).<\p>
New owners to bring new concept, new name to Green Bean
The oldest coffee shop in downtown Greensboro will be getting a new name and concept — and new ownership — this summer.<\p> Chandler's will hold its soft opening July 3, in the space currently occupied by coffee shop the Green Bean, located at 341 N Elm St. Chandler's will continue the legacy of a coffee shop in the space, and will also serve food as well as a variety of cocktails and mocktails, said Alexis Chandler, co-owner of the establishment along with her husband, Josh Chandler.<\p>
Most Americans still struggle to get away from work while on vacation
Most Americans struggle to get away from work while on vacation, even as some progress is being seen in restoring work-life balance.<\p> About 59% of the 2,000 Americans surveyed by communications firm Movchan Agency said they struggled to switch off during their downtime and 63% said they felt anxious if they didn’t check work emails while away. Overall, 54% said they worked while on vacation, although that's a lower share than previous years. <\p>
Burritos and bourbon chicken: Latest restaurant additions to the Triad
From a popular burrito franchise to an upscale Japanese-Peruvian fusion restaurant, the Triad has a lot to offer. Over the past few weeks, the region has seen a number of new places to eat and drink pop up in urban areas like Greensboro as well as more residential spots such as Bermuda Run.<\p> Triad Business Journal is here to give you a rundown of the latest additions to the local food and drink scene.<\p>
Alabama door company seeking incentives to expand in Union Cross area
Excel Interior Door of Hartselle, Alabama, is seeking to set up operations in the Union Cross area of Forsyth County with plans to create 69 jobs.<\p> Excel was identified Thursday morning in an updated agenda item for the Forsyth County Board of Commissioners as the company behind Project Sully, a code name for a company seeking economic-development incentives from the county and the city of Winston-Salem.<\p>
Do Palladium South, West Edge offer a glimpse into future of retail?
For weeks now, the buzz in north High Point has surrounded what's in store for the intersection of Wendover Avenue and Penny Road, where land clearing has revived anticipation of the long-awaited Palladium South retail development.<\p> As the developer continues to work those details out, including whether a grocer will anchor the center, there's a bigger question: What does the project's emergence say about the health of the Triad's retail sector four years after the Covid-19 pandemic. Large scale new projects in the Triad have been sparse since 2020 in a sector hard hit by the pandemic. But are projects like Palladium South and West Edge in Winston-Salem a sign that the sector has recovered? Or are they select opportunities driven more by specific sites and demographics surrounding them than an indicator of broader retail confidence. <\p>
The Playbook: The common pay threads for high-performing companies
Editor's Note: Welcome to The Playbook Edition, a look at stories, trends and changes that could affect your business and career. Want more stories like this in your inbox? Sign up for The Playbook newsletter. <\p> During a time when more workers expect transparency around pay, most top-performing companies are proving to be forthcoming — but that's not the only common thread. <\p>
Food-service equipment manufacturer starts work on Triad logistics hub
The 300,000 to 400,000 parts made a week at the Cambro Manufacturing plant in Mebane might sound like a lot, but it’s less than half what’s made at the company’s home base in California.<\p> But Mebane is catching up.<\p>
FTC’s latest attempt to stop Novant deal denied. What happens now?
A federal judge has once again denied the Federal Trade Commission’s request to stop Novant Health from completing its $320 million acquisition of two North Carolina hospitals but gave the federal agency a new deadline to take the matter to a higher court.<\p> U.S. District Judge Kenneth Bell on Tuesday denied the FTC’s appeal of his June 5 ruling denying the agency's bid for a preliminary injunction that would block the Winston-Salem health system’s deal to aqcuire over Lake Norman Regional Medical Center and Davis Regional Medical Center.<\p>
NAR settlement threw a wrench into VA loans but a fix is coming
The class-action lawsuits that rocked the residential real estate industry over the past year have resulted in nearly $1 billion in settlements so far — and also put in place changes that could have hurt veterans’ ability to shop for homes.<\p> The National Association of Realtors and big brokers such as RE/MAX Holdings Inc., Anywhere Real Estate Inc. and Keller Williams Realty Inc. agreed to prohibit mandatory so-called “cooperation agreements,” in which sellers pay both the selling agent and the buyers agent commission for a sale, in exchange for being allowed to list a home on a multiple listing service.<\p>
Historic site to be converted into multi-use space with new Bobby Boy
Less than a year after it was named a historical landmark, the Coca-Cola Bottling Plant in Winston-Salem is being developed into a multi-use space called Salem Bottleworks.<\p> Owned by Jared Rogers, head of Salem Bottling LLC and QAH Group LLC, the development sits on a 1.09-acre parcel at 845 S Poplar St., across the street from the Old Salem Visitors Center. Rogers told TBJ that the complex will feature several dining options and a few residential spaces.<\p>
Roy Carroll sells Rhino Times to longtime journalist
Scott Yost has seen the Rhino Times in many different iterations during his two decades at the publication, which he will now be taking into its next phase as the owner after buying it from prominent Greensboro businessman Roy Carroll.<\p> Carroll announced recently in a column in the Rhino Times that he would be selling the conservative online publication to Yost, a long-time reporter for the paper. Carroll noted that with the retirement of John Hammer, Yost approached him with "some great ideas" for the paper moving forward and Carroll felt it was the appropriate time for someone else to "lead the Rhino Times into a new generation."<\p>
Novant pays $6.6M to settle patient lawsuit over data shared with Meta
Novant Health has settled a class-action suit, agreeing to pay $6.6 million to about 160,000 patients who claimed some of their sensitive data was shared with Meta, the parent company of Facebook.<\p> A U.S. District judge in the Middle District of North Carolina signed off on the settlement between the Winston-Salem-based health system and patients whose data was compromised while using Novant's MyChart portal between May 1, 2020 and August 12, 2022.<\p>
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The Piedmont Triad region's source for local business news, breaking news alerts, newsletters, business intelligence and local business networking. An American City Business Journals publication.
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