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Breaking: AG won't block NHRMC-Novant sale


Note: This is a developing story and will be updated as more information becomes available.
NEW HANOVER COUNTY North Carolina Attorney General Josh Stein will not object to Novant Health’s $1.5 billion purchase of the publicly owned New Hanover Regional Medical Center.
After a three-month legally required review of the proposed asset purchase agreement and the addition of certain new negotiated conditions, Stein announced Thursday the parties have agreed to increase the transparency of the endowment bestowed with $1.25 billion in sale proceeds.
The endowment’s “representativeness” and independence of its board of directors has also been improved, according to Stein’s announcement. ....

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Trouble in paradise: Bald Head Island Council objects to private-to-public ferry sale


The Bald Head Island Transportation Authority is working to acquire the system’s privately-owned assets, valued at $47 million. (Port City Daily photo/Johanna F. Still)
BALD HEAD ISLAND A week after the Bald Head Transportation Authority met and a majority approved moving forward with purchasing the island’s ferry system for $47 million, the island’s political leaders drafted a letter to the state treasurer, opposing the sale as it currently stands.
The authority is
mandated by legislation to purchase the system, owned by Bald Head Island Limited LLC. Though there’s no deadline baked into the law that created the authority for this purpose, trustees have been working at this for three years last week’s move to apply for revenue bond approval marked its most significant step yet. ....

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After NHCS' state Supreme Court loss, millions in Smithfield fees headed to treasury


The original legal case surrounds whether or not millions that arose out of a July 2000 agreement between then-Attorney General Michael Easley and Smithfield Foods and its subsidiaries actually belonged to the public school system.
Under the N.C. Constitution, penalties must be remanded to public schools in the region being impacted by the violation. But under the legal agreement, Easley directed funds to be held in an escrow account, controlled and administered by his office to approved environmental causes.
A root issue in the case was whether the millions constituted a penalty. The state’s defense centered around the claim the money was offered “voluntarily.” NHCS argued the payments were punitive. ....

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