Triad.
Position | REGIONALREPORT |
Former Wachovia CEO Ken Thompson is back in North Carolina banking, joining High Point-based BNC Bancorp's board of directors. Forced out in 2008 after the Charlotte-based bank's acquisition of Golden West Financial created heavy losses--which led to Wells Fargo gobbling it up--Thompson is now an adviser with Aquiline Capital Partners, a New York private-equity firm that invested in BNC last June.
[ILLUSTRATION OMITTED]
4 minutes
Time between Stan Kowalewski withdrawing $100,000 and the bank freezing his account in January. A federal judge had blocked the Greensboro hedge-fund manager's assets the day before, after the Securities and Exchange Commission accused him of misusing $11.7 million of investors' money. The SEC wants him held in civil contempt. Kowalewski said in late April he doesn't have the resources to reimburse the money--plus another $100,000 he used to pay his lawyers.
[ILLUSTRATION OMITTED]
The largest showrooms in the rival High Point and Las Vegas home-furnishings markets will be united under new ownership. Las Vegas-based International Market Centers LLC has agreed to buy the High Point Market's three largest complexes plus the World Market Center in Las Vegas, left, creating the world's biggest network of furniture showrooms.
[ILLUSTRATION OMITTED]
$1 billion
Amount IMC, backed by private-equity firms, will invest.
11.5 million
Square footage of the 18 building IMC will control. The High Point Market, the world's largest furniture market, has a total of 10 million square feet.
7.2%
Decrease from last year in registrations to attend the spring High Point...
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