David Mildenberg, Business North Carolina Journalist Profile

Articles

Wolfspeed plant nears opening as stock remains unloved

1 day ago | businessnc.com | David Mildenberg

Many folks of all political stripes agree the U.S. needs to expand domestic chip manufacturing production to relieve our reliance on China. So Wolfspeed’s $5 billion bet on a Chatham County plant, supported by a $750 million in government backing pledged by the Biden Administration, makes sense to a lot of people across the political spectrum.
McHenry joins NYC investment bank Lazard

6 days ago | businessnc.com | David Mildenberg

Wall Street investment bank Lazard hired former U.S. Rep. Patrick McHenry as a senior adviser, three months after the Lincoln County resident left Congress, the Wall Street Journal reported. McHenry was a Republican congressman for two decades. He was considered perhaps North Carolina’s most influential congressman because of his role as chair of the House Financial Services Committee since 2023. Former House Speaker John Boehner predicted McHenry would be the House Speaker someday.
Businesses operating in a foggy zone, Barkin says

1 week ago | businessnc.com | David Mildenberg

Since becoming president of the Federal Reserve Bank of Richmond in 2018, Tom Barkin has consistently shown up in unusual places to gain the pulse of the economy in his five-state region. This week, Barkin met with various regional business leaders in southeastern North Carolina while visiting UNC Pembroke in Robeson County. Chancellor Robin Cummings hosted Barkin at various gatherings, including the regular weekly meeting of the Lumberton Rotary Club.
BCBS of NC posts "just above break even" profit in 2024

2 weeks ago | businessnc.com | David Mildenberg

Blue Cross and Blue Shield of North Carolina reported net income of $69 million and revenue of $11.9 billion in 2024, marking declines from the year earlier, the company said. In 2023, the Durham-based not-for-profit insurer earned $136 million with revenue at $12.2 billion. The results follow a May 2024 downward revision in Blue Cross’s outlook to negative by the Standard & Poor’s credit rating agency.
Founder John McAdams retires from his 500-employee design firm

3 weeks ago | businessnc.com | David Mildenberg

Founder John McAdams is retiring from McAdams, a multidisciplinary design and engineering firm that he started in 1979. The Raleigh-based business has grown from a single office to nine locations in North Carolina, South Carolina, Florida and Texas, with more than 500 employees. The N.C. offices are in Asheville, Charlotte, Durham, Raleigh and Winston-Salem. McAdams says his vision was to deliver exceptional service and create a workplace for building fulfilling careers.
Upfront: Booze, golf and gambling

3 weeks ago | businessnc.com | David Mildenberg

It strikes me that change is inevitable and that North Carolina is getting better all the time. It’s easy to long for the good old days, even if they weren’t all that good, while appreciating enduring values that make for long-term progress. The thought, and more specifically how Raleigh has changed, was sparked by a chat with Brad Hurley, who with John Vick has run the 42nd Street Oyster Bar restaurant in downtown Raleigh since 1987.
NC trend: Duke University drives to become a bigger healthcare force in North Carolina.

3 weeks ago | businessnc.com | David Mildenberg

It hasn’t attracted attention like Blue Devil basketball phenom Cooper Flagg, but the pace of change at Duke University’s healthcare operation has accelerated dramatically. In December, Duke Health said it would invest $280 million to buy Lake Norman Regional Medical Center and related businesses in Mooresville in Iredell County. It marks the Durham-based system’s first entry into the Charlotte metropolitan area, pending regulatory approval.
Jose Costa, Oaktree Capital aim to be captains of car washing.

3 weeks ago | businessnc.com | David Mildenberg

If a newly clean car puts an extra bounce in one’s step, imagine the carom from taking over about 380 locations to become the global leader of car washes. That’s the feeling Jose Costa enjoyed after his private-equity-backed Express Wash Operations agreed to buy the U.S. car wash business of Charlotte’s Driven Brands for $385 million in February. The combined firm will have 530 units and about 5,200 workers in 23 states, covering much of the Sunbelt and Michigan and Ohio in the Midwest.
Falfurrias Capital closes $1.35B fund, cites record 2024

3 weeks ago | businessnc.com | David Mildenberg

Falfurrias Management Partners raised $1.35 million in its latest fund, topping the $850 million it collected in 2021, according to a company release. The increase reflects strong investor interest in the Charlotte-based private equity group formed by Marc Oken, Hugh McColl Jr. and Ed McMahan.
flyExclusive's declining losses show "massive transition," CEO says

4 weeks ago | businessnc.com | David Mildenberg

flyExclusive, the Kinston-based private jet charter company, reported a $101.5 million net loss for 2024. But the declining amount of losses in recent quarters shows that the company is executing and should be reporting positive cash flow and net profitability later this year, CEO Jim Segrave says.