the old north state
genetically-engineering tobacco plants. Following successful lab tests, SynShark harvested the oil from plants grown on an acre of land. The company is now trying to double yields to make the effort commercially viable for tobacco farmers, who now leave thousands of acres fallow due to decreased interest in smoking. SynShark is now experimenting on a 10-acre plot outside Greensboro with a $250,000 NCBiotech loan, and hoping to raise $500,000 in venture capital by 2016.
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D e n t i s t r y
| December 2015
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Surprise Ending outer banks
Plaintiffs Melvin and J. Rex Davis sued their own mother in the North Carolina Business Court. They alleged she violated terms of a restricted estate. The brothers’ parents acquired an Outer Banks beach house in 1980 and gifted it exclusively to their three children, including daughter Kaye, through MKR, LLC in 2009. The gift was contingent upon the house being available to the mother and father whenever they wanted to use it, so long as they lived, and it was not to be used by another person or traded for cash. Following the father’s death, the mother, Dorothy, began renting the property, so the sons sued. Judge Gregory McGuire ruled in favor of the mother, though, saying the deed created a disabling restraint on the conveyance of a life estate, which was against public policy. The children claimed that violating a self-imposed restriction did not constitute public policy, but the judge disagreed. The restrictions, but not the entire life estate, were declared void, so the case was dismissed.
If You Survive the Insurance Payments raleigh
The North Carolina Department of Insurance has approved new rates for health insurance coverage under the
Vol 5 | Ed 12 - Western North Carolina's Business Lifestyle Magazine - Featuring Clyde Hollifield