Cobey is a board member of the Jesse Helms Center in Wingate, North Carolina and chair of the board of trustees at Trinity School of Durham and Chapel Hill.
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Cobey was one of the leading candidates for the Republican gubernatorial nomination to challenge Democratic Governor Mike Easley in the 2004 election.
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After serving as town manager of Morrisville, North Carolina, he did government relations consulting for Capitol Link, Inc.
In 1977, they petitioned the UNC Athletic Director, Bill Cobey, to take the club to the varsity level.
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He defeated fellow former House Speaker Carl J. Stewart, Jr. in the 1980 Democratic primary, and then went on to defeat Republican Bill Cobey in the general election.
Patrick Ballantine emerged as one of the leading candidates for the Republican gubernatorial nomination to challenge Governor Mike Easley in the 2004 election, although he faced heated competition for the nomination from former Charlotte mayor Richard Vinroot and former Congressman Bill Cobey.